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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-03-23]
BTC Price: 42892.96, BTC RSI: 58.20
Gold Price: 1936.60, Gold RSI: 52.72
Oil Price: 114.93, Oil RSI: 61.78
[Random Sample of News (last 60 days)]
GLOBAL MARKETS-Wall Street heads lower as Fed, Ukraine capture investor attention: By Elizabeth Howcroft and Pete Schroeder
LONDON/WASHINGTON, Jan 25 (Reuters) - U.S. stocks continued their downward trend on Tuesday, opening sharply lower as safe havens gained ground amid investor nerves about tensions between Russia and the West and the prospect of the U.S. Federal Reserve tightening monetary policy soon.
All three major U.S. indices opened trading down at least 1%, resuming a sharp selloff that had been briefly upended around the close of Monday's trading. U.S. stocks posted their worst week since 2020 last week. World stocks are on course for their biggest monthly drop since the COVID-19 pandemic hit markets in March 2020.
The Dow Jones Industrial Average fell 2.28% in early trading, while the S&P 500 lost 2.72% and the Nasdaq Composite dropped 2.92%. The MSCI world equity index , which tracks shares in 45 nations, was down 1.74%.
A build-up of Russian troops on Ukraine's border has triggered fears in the West that Russia will invade. NATO said on Monday it was putting forces on standby and reinforcing eastern Europe with more ships and fighter jets.
The Federal Reserve kicked off its two-day meeting on Tuesday. It is expected to give guidance about the trajectory of monetary policy tightening, with investors expecting the first post-pandemic U.S. rate hike in March.
Tightening monetary policy typically hurts riskier assets, such as equities, and makes government bonds more attractive to investors.
Asian stock indexes extended Wall Street's losses. European markets were up slightly after falling sharply on Monday.
World stocks have fallen 6.5% this month, the most since the 13.8% monthly drop when the COVID-19 pandemic hit markets in February 2020.
"What we have seen is a combination of the rising geopolitical risk ... in combination with the market downside risk triggered by the more hawkish Fed," said Eddie Cheng, head of international multi-asset investment at Allspring Global Investments.
The world equity index has fallen below its 200-day moving average. The last time this happened, stocks had a 30% drop and bounce.
Allspring's Cheng said such a drop was unlikely this time in the absence of a driver as big as the start of the pandemic.
"We don't expect that equities are going to go all the way down just because of one geopolitical risk," Cheng said.
The sell-off in equities had limited impact on rates markets, with investors pricing in about 100 bps of rate hikes for the Federal Reserve and Bank of England this year.
Although investors do not expect a rate hike at this week's Fed meeting, the market is pricing in a 5.4% chance of this happening, according to Refinitiv data on Eikon.
The U.S. 10-year yield was at 1.7405%, a touch lower on the day, as investors gravitated to safer havens.
Likewise, the U.S. dollar index was up 0.3%, while euro-dollar slipped.
Oil prices recovered some of the previous day's losses, as the geopolitical tensions fuelled supply fears. Brent crude was last up 1.09% at $87.21 a barrel. U.S. crude was last up 1% at $84.14 per barrel.
Cryptocurrencies slipped further. Bitcoin was trading around $36,070. On Monday it hit a six-month low of $32,950.72, having halved since its latest all-time high of $69,000 hit in November .
(Reporting by Elizabeth Howcroft in London and Pete Schroeder in Washington; Editing by David Evans, Susan Fenton, Will Dunham and Nick Macfie) || SEC Rejects Fidelity’s Wise Origin Bitcoin ETF Proposal: The U.S. Securities and Exchange Commission (SEC) refused to approve a Fidelity spot bitcoin exchange-traded fund (ETF), adding to the recent list of rejected applications. The rejection of Fidelity's application for the Wise Origin Bitcoin Trust on Thursday comes just seven days after the SEC threw out a spot bitcoin ETF application filed by investment advisory firm First Trust and hedge fund SkyBridge Capital. The rejection follows the precedent set by the SEC in preferring ETFs that track bitcoin futures. "While we are disappointed by the outcome of the SEC’s deliberations resulting in today’s disapproval order, we reaffirm our belief in market readiness for a physical bitcoin exchange traded product and look forward to continued constructive dialogue with the SEC," said a spokesperson from Fidelity. In December, the regulator rejected investment firm Kryptoin's proposal to list a spot bitcoin ETF. It has also rejected spot bitcoin ETF proposals from VanEck and WisdomTree . In October, the first-ever ETF backed by bitcoin futures was launched by ProShares trading on the New York Stock Exchange. Other approvals include the Valkyrie Bitcoin Strategy ETF and the VanEck Bitcoin Strategy ETF. Read more: SEC Rejects First Trust SkyBridge's Spot Bitcoin ETF Proposal UPDATE (Jan. 27 20:11 UTC): Added statement from Fidelity in third bullet point. || Bitcoin Will Reach $200K in Second Half of 2022, FSInsight Says: Bitcoin became increasingly correlated with equities toward the end of the fourth quarter of last year and fell when faced with the prospect of central bank tightening, FSInsight said in a note entitled “Digital Assets in a Post-Cycle World.”
• The correlation has become more pronounced with bitcoin and the wider crypto market now being strongly correlated with technology stocks because of “legacy market capital entering the fold,” Sean Farrell, head of digital asset strategy, wrote in the note on Friday.
• However, bitcoin is still king, Farrell wrote, adding that the crypto could reach $200,000 in the second half of the year, following a choppy start to 2022.
• FSInsight also said thatdecentralized finance(DeFi),non-fungible tokens(NFTs) and other Web 3 applications have driven massive growth of the Ethereum network.
• Ethereum is undervalued relative to cloud platforms, and ether, which is the native token of the network, could reach $12,000 in 2022, the report said.
• There is optimism surrounding Ethereum's transition toproof-of-stakein 2022, which if it happens, would likely result in capital inflows irrespective of bitcoin performance, the note added.
• Bitcoin was trading at $42,750, and ether at $3,068 as of publication time.
CORRECTION (Feb 7, 13:40 UTC):Corrects headline to say $200,000 not $20,000.
Read more:Goldman: Bitcoin, Altcoins to Become More Correlated With Traditional Financial Market Variables || Coinbase, Genesis Highlight Massive Institutional Growth at MicroStrategy Conference: Institutions now make up 50% of Coinbase's business, up from 10% three years ago, the head of Coinbase Institutional said Wednesday during MicroStrategy's Bitcoin for Corporations conference.
Brett Tejpaul told MicroStrategy CEO Michael Saylor that increase in business has prompted an increase in the institutional group's size, from about a dozen people to 150. Institutions need to know they can transact their business in large volume, and that will be even more important in coming years, he added.
A far more recent emerging theme, he said, is retailersinterested in non-fungible tokens(NFT). This may lead these companies into holding bitcoin in their treasuries, once they are comfortable with the concept, and then accept customer payments in crypto, said Tejpaul.
Tejpaul also noted institutions are getting comfortable holding stablecoins, from roughly $10 billion three years ago to $150 billion today. Stablecoins keep institutions in the cryptocurrency ecosystem during those times when they’re not comfortable holding bitcoin, he added, noting there was a marked increase in stablecoin usage at the same time as bitcoin’s plunge during December and January.
Michael Moro, CEO of digital prime brokerage Genesis, told Saylor his company’s derivatives business is about eight times larger than a year ago, with borrowing against bitcoin and borrowing to buy bitcoin also showing strong growth. He also agreed with Saylor there has been an “avalanche of hedge funds” entering the bitcoin space over the past year.
Genesis is a subsidiary of Digital Currency Group, CoinDesk's parent company.
Read more:Jack Dorsey Touts Bitcoin's Virtues at MicroStrategy Conference
UPDATE (Feb. 2 20:25): Corrects spelling of Brett Tejpaul's name. || Russia Acknowledges That It’s Impossible To Ban Bitcoin: The Russian Minister of Finance Anton Siluanov has finally commented on the potential regulation of the crypto markets, and his comments look bullish for the industry.
Commenting on the recent discussion between the Ministry of Finance and the Russian Central Bank, which wants toban crypto, Siluanovsaidthat a crypto ban is similar to an internet ban, which is impossible.
He noted that the risks highlighted by the Russian Central Bank were real, but regulation was the preferred option compared to a blanket ban.
He alsoaddedthat Russia needs to create a legal framework for crypto mining in order to tax this business. At this point, it looks that Russia may be ready to attract some miners from Kazakhstan, which isreadyfor a tenfold increase in the crypto mining tax.
China is the only major country that managed to ban cryptocurrencies, and the crypto market has successfully survived this ban. Russia is not ready to follow China’s steps, which is bullish forBitcoin,Ethereumand other cryptocurrencies as the country’s citizens are material contributors to the crypto community both as buyers and as developers.
The recent discussion between the Russian Central Bank and other officials also shows that the crypto market has become too big to ignore , and even the countries which prefer to have a tight grip on their financial system have to acknowledge the fact that crypto is here to stay.
In the short-term, news from Russia should not have a major impact on the crypto market which is currently focused on general risk sentiment. Thetotal crypto market capfaced resistance near the $2 trillion level, and it will need to settle above this level to gain additional upside momentum. In the longer term, the recent developments in Russia are certainly bullish for cryptocurrencies.
Thisarticlewas originally posted on FX Empire
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• Headline Driven Euro Setting-Up for Heightened Volatility || Euro Gives Up Early Gains: TheEurohas been all over the place during the course of the trading session on Friday, initially spiking during the day, only to turn around after the jobs number came out much stronger than anticipated. Perhaps it was not so much the jobs number in America, but it had more to do with the fact that interest rates in America spiked as the Federal Reserve has almost no excuse not to become a very tight central bank. This puts more upward pressure on the greenback going forward, but at this point in time it somewhat of a relative game as the ECB has finally acknowledged inflation.
With the bond market behaving the way it is and the central banks out there all tightening at the same time, this is only going to make volatility worse, not better. Because of this, I believe that it is probably only a matter of time before something breaks, as the central banks all suddenly worry about inflation. We went from a “race to the bottom” to everybody is doing the same thing in the opposite direction.
This is going to cause headaches, so be aware the fact that we will be choppy. If we can break above the 1.15 handle that could continue the overall uptrend in the Euro, but at this point in time a short-term pullback looks more likely than not. The 50 day EMA underneath could offer support, but I would not count on it if we suddenly saw interest rates spike even further in America. There was a massive move after the jobs report so it will be interesting to see how this plays out.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
• Gold Prices Rise Slightly As Yields Surge
• The Australian Dollar Gives Up Gains for the Week
• Natural Gas Drops and Finishes the Week in the Red
• British Pound Has Strong Week
• Is the “expect a Big Rally” in Bitcoin Here?
• S&P 500 Has Another Tough Outing || DraftKings Has a Serious Profitability Problem That Isn’t Going Away: WithDraftKings(NASDAQ:DKNG) continuing to face very tough competition that’s severely undermining its profitability and also about to deal with an important, near-term hurdle, the outlook for DKNG stock remains poor.
Source: Lori Butcher / Shutterstock.com
Given the intense competition that DraftKings is facing, I’m unsure if the company will ever be profitable. DraftKings is facing tough competition in the sports-betting space that has weighed on its profitability for some time.
Partly due to Wall Street’s current focus on profitability, investors finally have realized that DraftKings’ losses are very detrimental. Since its losses are mostly caused by high marketing costs spurred by intense competition, I expect the firm to remain in the red for many years, if not forever.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
In 2021, for example, DraftKings’ sales and marketing costsnearly doubled versus 2020to $981.5 million. Those sales and marketing costs were equal to roughly 75% of its entire revenue for the year.
In my view, DraftKings’ main underlying problem is that it’s facing competitors with very strong name recognition. Those competitors are able to spend hundreds of millions on marketing costs without sustaining huge losses.
Competitors likeMGM Resorts(NYSE:MGM),Penn National(NASDAQ:PENN) andCaesars(NASDAQ:CZR) also have access to contact information and data on their tens of thousands of customers. These casino owners can easily contact and effectively market their online betting businesses to these customers, many of whom enjoy gambling with large amounts of money.
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It’s true that DraftKings has access to many current and former fantasy sports participants. But these people are likely to spend less money than traditional casinos gamblers on the whole. These are people who like spending many hours per day and many days per year gambling.
To compete effectively with the casino owners for lucrative gamblers’ dollars, DraftKings has to spend tremendous amounts of money on marketing.
DraftKings expects its EBITDA, excluding certain items, to come in at $825-$925. That is meaningfully worse than the $676 million adjusted EBITDA the company reported in 2021. The EBITDA guidance was also below analysts’ prior average estimate.
Turning to the short-term challenge, Major League Baseball and its Players’ Association have beenunable to reach an agreementon a new Collective Bargaining Agreement.
As a result, MLB announced that its 2022 season, will be delayed beyond its slated March 31 start date. That could negatively affect DraftKings’ second-quarter results since there will be no MLB games on which to bet.
Arguably, if the postponement turns out to be long-lasting, MLB’s existing problems with young Americans could be aggravated, hurting DraftKings’ financial results over the longer term.
Wells Fargocut its ratingfrom “overweight” to “equal weight,” citing DraftKings’ spending, which is expected to surge 60% year-over-year.
DraftKings has a huge profitability issue because it cannot keep up its marketing efforts without generating huge losses.
This issue is not going to be resolved for the foreseeable future and may never be alleviated. Therefore, I continue to advise investors to sell DKNG stock.
On the date of publication, Larry Ramer held a long position in MGM. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Larry Ramer has conducted research and written articles on U.S. stocks for 13 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 postDraftKings Has a Serious Profitability Problem That Isn’t Going Awayappeared first onInvestorPlace. || Nike Headwinds Grow Ahead of Report: Dow component Nike Inc. (NKE) reports Q3 2022 results after Monday’s closing bell, with analysts looking for a profit of $0.71 per-share on $10.61 billion in revenue. If met, earnings-per-share (EPS) will mark a 21% profit decline compared to the same quarter last year. The stock rose 6.2% in December after beating Q2 top and bottom line estimates but turned south with other mega-cap stocks in January 2022 and has carved a 25% year-to-date loss. Russia, China and MLB A slow China rebound and chronic supply chain disruptions have impacted annual performance, along with political events that have reduced risk appetites for international growth stocks. Last week’s Major League Baseball settlement removed a major obstacle from the agenda but Nike just shut down the stores it owns and operates in Russia, eliminating another income source. It’s also halted online sales in the rogue state, walking away from rapid sales growth. Credit Suisse analyst Michael Binetti reiterated an ‘Outperform’ rating and $160 price target this week while lowering quarterly and full year earnings estimates, As he notes, returns are being impacted by a “growing list of global macro factors (inventory shortages, Russia/Ukraine, new China lockdowns, and US/Europe consumer inflation)”. Jefferies analyst Randal Konik just cut his earnings estimates as well, warning clients about the “volatile macroeconomic backdrop”. Wall Street and Technical Outlook Wall Street consensus stands at an ‘Overweight’ rating based upon 18 ‘Buy’, 5 ‘Overweight’, 7 ‘Hold’, and 1 ‘Underweight’ recommendation. Price targets currently range from a low of $125 to a Street-high $199 while the stock is set to open Thursday’s session on top of the low target. This dismal placement highlights the failure of analysts to measure the long-term impact of adverse trends on a broad range of widely-held issues. Nike cleared January 2020 resistance at 105.62 in August, entered a two-legged uptrend that ran out of steam near 175 in August 2021. A November breakout attempt failed, ahead of a steady downtick that completed a double top breakdown in February. This pattern yields a measured move target near 109, or about 16 points below Thursday’s opening print. 50-month and 200-week moving average support are closely aligned at that level, raising the stakes for bulls in coming weeks. Story continues Catch up on the latest price action with our new ETF performance breakdown . Disclosure: the author held no positions in aforementioned securities at the time of publication. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin and ETH Print Bullish Pattern, Why AVAX Aims $100 British Pound Gives Up Early Gains Ukraine President Enacts a Law To Legalize Crypto As Donations Pour-In Nike Headwinds Grow Ahead of Report US Dollar Continues to Levitate Against Japanese Yen Crude Oil Markets Bounce || Market Wrap: Bitcoin Price Jump Fades After US Inflation Spike: Bitcoin ( BTC ) recovered from a nearly 5% drop on Thursday after the January U.S. inflation report showed a 7.5% increase in prices, a four-decade high. The increase in inflation was the fastest since February 1982 and exceeded economists' predictions of a 7.3% rise. The U.S. Federal Reserve is expected to raise interest rates next month , which could ease inflation over time. Tighter monetary policy could also weigh on speculative markets such as equities and cryptocurrencies. Stocks also fell on Thursday, with the S&P 500 down as much as 2% over the past 24 hours, while Treasury yields rose above 2%. In crypto markets, bitcoin outperformed most alternative cryptocurrencies (altcoins). Typically, during down markets, investors overweight bitcoin because of its lower risk profile relative to altcoins. BTC was roughly flat over the past 24 hours, versus a 4% drop in ETH and a 6% drop in SOL. Latest prices ● Bitcoin (BTC): $44122, −1.25% ● Ether (ETH): $3114, −4.36% ● S&P 500 daily close: $4504, −1.81% ● Gold: $1828 per troy ounce, −0.40% ● Ten-year Treasury yield daily close: 2.03% 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. Some analysts expect selling pressure to eventually wane, while others expect slowing economic growth and tighter monetary policy will keep buyers on the sidelines. "The simple explanation from our end is that there is major trading volume around economic data releases," Sean Farrell, head of digital asset strategy at Fundstrat Global Advisors, wrote in a Thursday brief. "It’s possible that the carnage we witnessed the past several weeks already priced in a 50 basis point rate hike." Fundstrat remains bullish on crypto, and it has advised clients to buy on dips through the first half of this year despite choppy price action and macroeconomic uncertainty. Story continues Meanwhile, MRB Partners, an investment strategy firm, wrote in a note this week that stocks and bonds "will struggle to digest the less accommodative shift in global monetary policy over the next six to 12 months." "There is further upside for government bond yields in the next year, although a pause likely looms in the near term," MRB wrote. U.S. CPI chart (CoinDesk, TradingEconomics) Altcoin roundup Cartesi to expand its blockchain game ecosystem with Aetheras: Cartesi, which is trying to develop a layer 2 Linux infrastructure, is teaming up with Aetheras in the hope that future blockchain games can be created with its blockchain operating system. According to Cartesi, Aetheras' software will enable gamers to enjoy more flexibility to explore different games at the same time without the worry of losing their in-game assets. Read more here . Streamr Network approaches a key milestone of decentralization: Streamr, a real-time data network, will become the open, permissionless and decentralized Brubeck Network on Feb. 24. Developers can now build on the Brubeck Network, or migrate their existing apps forward in anticipation of the official launch. Read more here . FLOW tokens surge on mobile game Beijing 2022: The price of Flow’s FLOW token has risen 12% since Tuesday as nWayPlayNFT, a subsidiary of the Hong Kong-based game software company and venture capital firm Animoca Brands, launched an officially licensed play-to-earn mobile game called Beijing 2022. Read more here . Relevant news US Inflation Hits New 4-Decade High of 7.5% in January Crypto M&A Surged Nearly 5,000% in 2021, PwC Report Says Ransomware Payments Are Getting Bigger as Hackers Shift Focus to Larger Targets: Chainalysis Compliance Platform Sardine Closes $19.5M Funding Round to Eliminate Fishy Crypto Transactions Bitcoin Miner CleanSpark Surges on Plan to Sell Legacy Energy Business Other markets Digital assets in the CoinDesk 20 ended the day lower. Largest gainers: Asset Ticker Returns Sector Ethereum Classic ETC +0.7% Smart Contract Platform Bitcoin Cash BCH +0.4% Currency Largest losers: Asset Ticker Returns Sector Algorand ALGO −6.0% Smart Contract Platform Polkadot DOT −5.8% Smart Contract Platform XRP XRP −5.8% Currency Sector classifications are provided via the Digital Asset Classification Standard (DACS) , developed by CoinDesk Indices to provide a reliable, comprehensive, and standardized classification system for digital assets. The CoinDesk 20 is a ranking of the largest digital assets by volume on trusted exchanges. || Why Ford Stock Could Drive Higher From Current Levels: 2022 has been an interesting year already for Ford (NYSE: F ) stock. Shares rose more than 21% during the first two weeks of January before a sudden crash soon followed. And now in mid-March, F stock has completely flipped and is down nearly 22% year-to-date (YTD). A Ford (F) sign hangs on a glass wall in Kiev, Ukraine. Source: Vitaliy Karimov / Shutterstock.com Furthermore, Ford recently announced a strategic transformation and business decision to form separate units for its ICE models named Ford Blue and for its Model e electric vehicle (EV) models. The rationale is to scale EV production, strengthen business operations and unlock value. With that in mind, the concept of value should make investors happy. Higher value is synonymous with higher valuation and stock price. Of course, both Ford and the entire automotive industry are facing a plethora of risks at the moment. And all of them appear to be hurting a potential rebound in the industry due to a variety of factors. In turn, this could prove to be material for both current business plans and in the future. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Overall, there are several factors that could affect the performance of F stock. But why not start though with positive things to consider first? The Good for F Stock At the moment, F stock boasts a trailing price-earnings ratio (P/E) of around 4.01. And shares of Ford also have a forward dividend & dividend yield of 40 cents and 2.5%, respectively. 7 Safe Investments for Seniors to Consider in 2022 Additionally, analysts expect Ford’s earnings per share (EPS) to grow at a rate of 27.1% over the next 3-5 years. Furthermore, the PE-to-growth (PEG) ratio is only 0.31. This is dirt cheap for a company that is and will continue to be a leader in the global automotive industry. Unlike most EV stocks that have losses and still trade at irrational valuations like Rivian Automotive (NASDAQ: RIVN ), Ford is both profitable and an icon as a company with a bright future despite the latest headwinds. In fact, many Wall Street analysts clearly think F stock will bounce back over the next 12 months. The one-year target estimate of $22 per share implies 35% upside potential from the current stock price of $16.26 Story continues Of course, there is a chance F stock could move lower due to the aforementioned risk factors. From a long-term perspective, though, I only see a great investment opportunity in Ford at this moment. The Bad and The Ugly The main factor hurting Ford right now is the Russian invasion of Ukraine. This caused many companies to stop their business activities in Russia and has sent commodities like nickel skyrocketing. In fact, the LME (London Metal Exchange) had to suspend trading of nickel market as the price went parabolic due to Western sanctions that raised concerns over the metal supply. Why is this important? Nickel is essential to produce EV batteries, and Russia produces around 6% of the global demand . Thus, the sanctions against Russia can lead to a continuous deficit in the quantities of nickel used to produce batteries and equip EVs. With that in mind, Ford has already set great expectations with its Mach-E model. Therefore, the chances of running out of stock and not being able to meet high demand are very high. And that is not a good thing for this automotive company. Additionally, Russia is also an important exporter of aluminum and of natural gas and oil. There are also deeper chip-supply constraints, and problems in the logistics chain as the disruption of business activities in Russia means that the capital employed must be transferred elsewhere now. On top of these problems, Ford had a mixed fourth-quarter earnings report with misses on both EPS and revenue. Adjust EPS of 26 cents was below the expectation of 45 cents for the period, and revenue of $35.3 billion was slightly below the expected $35.5 billion. That said, the business decision to create separate units for electric cars and internal combustion engines vehicles is smart and effective. Management expects it will scale and drive operating improvements, while synergies will be present by sharing relevant technology. Moreover, this transformation should address the high debt level Ford has as the net debt to equity ratio of 207.9% is considered too high, and debt is not well covered by operating cash flow. How Rivian Affects Ford Back in January, Ford reported an update on certain special items for fiscal year 2021 results , and among these items was “A fourth-quarter gain of $8.2 billion on Ford’s equity investment in Rivian”. This gain was included in reported GAAP net income and EPS but excluded from its non-GAAP adjusted EPS. Furthermore, Ford stated that going forward, “mark-to-market revaluations to account for changes in Rivian’s stock price could result in related gains or losses each quarter reported as special items.” Since this announcement, shares of Rivian have crashed more than 50%. So clearly, Ford will likely post a huge loss related to this equity investment. Nonetheless, the bottom line on F stock is this: Ford is now facing numerous challenges, and risks that can harm its growth and profitability. Still, the valuation cannot be ignored, and thus, F stock is now a bargain with elevated risks. On the date of publication, Stavros Georgiadis, CFA did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . Stavros Georgiadis is a CFA charter holder, an Equity Research Analyst, and an Economist. He focuses on U.S. stocks and has his own stock market blog at thestockmarketontheinternet.com . He has written in the past various articles for other publications and can be reached on Twitter and on LinkedIn . 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 Why Ford Stock Could Drive Higher From Current Levels appeared first on InvestorPlace .
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 43960.93, 44348.73, 44500.83, 46820.49, 47128.00, 47465.73, 47062.66, 45538.68, 46281.64, 45868.95
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin is having trouble getting through $900: Bitcoin holds little changed near $891 a coin as of 7:02 a.m. ET. The cryptocurrency is contending with resistance in the $900 area for the third straight session. Bitcoin raced to more than $916 on Tuesday but was unable to break out above the early-January resistance level.
Bitcoin has gotten off to a wild start in 2017. Buying in the opening days of the year lifted its price more than 20% and above $1,000 for the first time since November 2013. However, rumblings about a crackdown on trading in China have caused jitters as of late. Beijingannouncedit had beguninvestigating bitcoin exchangesin Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues.The price crashed 35% to nearly $750 before finding support and working its way back up to resistance in the $900 area.
Thursday's action has to alleviate some concerns regarding the trading environment in China as Beijing announced it wastightening capital controls even further. While the rules were aimed atoutbound investments by centrally-controlled state firms, it is still notable thatbitcoin has so far been spared. In a note to clients on Wednesday, Deutsche Bank's Torsten Sløk showed howChina dominates the global bitcoin market, accounting for nearly 100% of the trading.
(Investing.com)
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• Bitcoin is charging higher || Here’s A Portfolio Based On JP Morgan’s 2017 Outlook: This article is part of a regular series of thought leadership pieces from some of the more influential ETF strategists in the money management industry. Today's article is by Corey Hoffstein, co-founder and chief investment strategist of Boston-based Newfound Research.
J.P. Morgan recently released its 2017 long-term capital market assumptions, a valuable resource for investors looking to leverage institutional research in their own asset allocation decisions.
For those unfamiliar, capital market assumptions outline the expected return, volatility and correlation parameters that can be fed into a portfolio optimization process.
The full report sits at a hefty 94 pages. Before using the research,we believe it is prudent for investors to read the full reportto understand the methodologies employed. For those less interested in narrative and more interested in implications, there is an easier way to gain insight: Build a portfolio.
That is exactly what we have done.
Using the capital market assumptions, we have built mean-variance optimal portfolios at varying risk levels. The results may surprise you.
For a larger view, please click on the image above.
While traditionally built portfolios rely heavily on stocks and bonds, portfolios built leveraging J.P. Morgan’s capital market assumptions steer away from them. For example, the portfolio designed to have a similar risk profile as a 100% global equity portfolio (the far right of the above graph) holds less than 50% in global equities.
Alternative Income Favored
Credit-based and alternative income asset classes dominate portfolios across the risk spectrum. These asset classes are emerging market debt (USD), emerging market debt (local currency), high-yield bonds, bank loans and REITs.
Whythe optimization ends up relying so heavily on credit-based asset classes can be seen in the below scatter plot of expected returns and volatilities.
For a larger view, please click on the image above.
With equity exposures in yellow and credit exposures in blue, we can see that similar return levels are expected to be achieved at significantly less risk. High-yield bonds, for example, are expected to only earn 0.5% less a year than U.S. large-cap stocks, but with 40% less volatility.
Consider, similarly, that bank loans are expected to have a risk profile in line with intermediate-term U.S. Treasurys and investment-grade corporate bonds (the two green dots below bank loans in the above graph), but with nearly double the return.
The result is that the optimizer ends up using credit in place of both stocksandbonds.
Investment-Agnostic
Part of the beauty of a completely systematic approach like portfolio optimization is that it is agnostic to what the investments actually are. While investors may be reluctant to go so far outside their own comfort zone, a computer simply sees numbers and performs rote calculations to find the optimal risk/reward trade-off.
Why use riskier stocks when emerging market debt and high yield can be used instead? Why use lower returning bonds when bank loans fit the bill?
This agnosticism to what the allocations represent results in what might seem, to many, a rather unusual—albeit thought-provoking—portfolio.
So while on the one hand J.P. Morgan’s outlook provides evidence that investors should strive to incorporate many of these credit-based exposures, on the other, it may be totally untenable for most investors. We should acknowledge that the optimal portfolio is first and foremost the one an investor can stick to.
We explicitly model this trade-off in ourmodel research portfolios. Those interested in learning more about how we do it can read our white paper, “A Modern, Behavior-Aware Asset Allocation.”
Balancing Short-Term Risk & Long-Term Opportunity
It is also important to recognize that not only are J.P. Morgan’s capital market assumptionsestimates, but that they areestimatesfor annualized returns for the next seven to 10 years.
Today if we use the BofA Merrill Lynch US High Yield Option-Adjusted Spread as a measure of “value,” credit-based instruments are not cheap. In fact, sitting at 3.93% at the time of writing puts us in the most expensive quartile of markets going back to 1996.
In Newfound’sMulti-Asset Income portfolio, we seek to balance potential short-term risk and long-term opportunity in two ways. First, we strategically allocate using a Sharpe parity approach, dynamically emphasizing the asset classes that provide the most yield with the least volatility. We then apply a trend-following process to remove asset classes we deem to be exhibiting significant downside risk.
We believe this dual approach to managing risk can help create a stable, balanced portfolio in healthy market environments while providing a means of de-risking in unhealthy ones.
For do-it-yourselfers, there are a variety of ETFs available today in each of these credit categories that can be used to incorporate exposure.
• Bank Loans:SPDR Blackstone / GSO Senior Loan (SRLN),PowerShares Senior Loan Portfolio (BKLN),Highland/iBoxx Senior Loan (SNLN)
• EM Debt (USD):iShares JPMorgan USD Emerging Markets Bond ETF (EMB),PowerShares Emerging Markets Sovereign Debt Portfolio (PCY)
• EM Debt (Local Currency):SPDR Bloomberg Barclays Emerging Markets Local Currency (EBND),VanEck Vectors JP Morgan EM Local Currency Bond (EMLC)
• High Yield:SPDR Bloomberg Barclays High Yield Bond ETF (JNK),iShares iBoxx $ High Yield Corporate Bond ETF (HYG),JPMorgan Disciplined High Yield (JPHY)
• REITs:Vanguard REIT Index Fund (VNQ)
Regardless of approach, the implications behind J.P. Morgan’s capital market assumptions are clear: Credit-based exposures will be key to unlocking the optimal risk/reward trade-off for portfolios over the next decade.
Newfound Research uses BKLN, SNLN, PCY, EMLC, HYG, JPHY and VNQ in its portfolios and may hold positions at the time of publishing.Founded in August 2008, Newfound Research is a quantitative asset management firm based in Boston.Investing at the intersection of quantitative and behavioral finance, Newfound Research is dedicated to helping clients achieve their long-term goals with research-driven, quantitatively managed portfolios, while simultaneously acknowledging that the quality of the journey is just as important as the destination. For more information about Newfound Research, call us at617-531-9773, visit us atwww.thinknewfound.comor email us [email protected]. For a list of relevant disclosures, clickhere.
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Permalink| © Copyright 2017ETF.com.All rights reserved || CEOs love the corner office, but research says it's overrated: ("The Office"/NBC)
Corner offices are a coveted piece of corporate real estate — but they probably shouldn't be.
According tonewly published researchfrom office design company Steelcase, corner offices meet only a small percentage of modern CEOs' needs. Many leaders say they value teamwork over unilateral decision-making, yet still work in fixed spaces designed to isolate.
Patricia Kammer, senior design researcher at Steelcase, says the corner office does a disservice for companies with flatter organizational structures where consensus trumps top-down commands.
"If they don't have that [flexibility], the organization's agility and ability to respond to market demands are at stake," Kammer tells Business Insider.
Steelcase conducted a two-year study of more than 20 companies around the world to learn how CEOs and other executives spent their working hours. The company found leaders face a battery of challenges in any given day. They switch between tasks, manage stress, rely on assistants, and wrestle with always staying available by phone or email.
"It's not that they misunderstand how their work gets done," Kammer says of CEOs retaining their corner offices. "It's that their jobs have gotten harder."
Steelcase's research finds there are a number of strategies, ranging from tiny tweaks to elaborate overhauls, that CEOs could make to help themselves. Kammer says the simplest approach is building environments that promote exercise and social interaction during the day.
That could mean setting up a more communal work area for executives and their team, such as standing desks far away from the fixed office, but which encourage interaction with others on the way there.
More involved solutions include building whole new rooms for executives that serve a different function from their personal offices. The spaces could be used for reflection or creative thought, rather than business dealings, and reserved exclusively for leaders.
As workplaces continue to get more farflung — arecent surveyfound remote work is gaining in popularity — leaders have to make sure they can connect with everyone effectively, Kammer says. That means being visible to people at a main branch but available when someone in a different time zone needs them.
"This is an interesting paradox," Kammer says.
Business are getting more global at the same time they're getting less hierarchical. People need to see their leaders more as equals but with the understanding that their jobs are still measurably harder, and their schedules more demanding. According to Kammer, success in this new world of work means being as nimble as possible.
"To achieve all of this," she says, "CEOs and their executive teams cannot afford to be hidden away in traditional private executive suites that potentially undermine a free-flowing exchange of ideas."
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• Britain's former business secretary: It's not globalisation killing jobs — it's technology || U.S. regulators reject Bitcoin ETF, digital currency plunges: By Trevor Hunnicutt and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - The U.S. Securities and Exchange Commission on Friday denied a request to list what would have been the first U.S. exchange-traded fund built to track bitcoin, the digital currency. Investors Cameron and Tyler Winklevoss have been trying for more than three years to convince the SEC to let it bring the Bitcoin ETF to market. CBOE Holdings Inc's (CBOE.O) Bats exchange had applied to list the ETF. The digital currency's price plunged (BTC=BTSP), falling as much as 18 percent in trading immediately after the decision before rebounding slightly. It last traded down 7.8 percent to $1,098. Bitcoin had scaled to a record of nearly $1,300 this month, higher than the price of an ounce of gold, as investors speculated that an ETF holding the digital currency could woo more people into buying the asset. 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. Yet bitcoin presents a new set of risks to investors given its limited adoption, a number of massive cybersecurity breaches affecting bitcoin owners and the lack of consistent treatment of the assets by governments. "Based on the record before it, the Commission believes that the significant markets for bitcoin are unregulated," the SEC said in a statement. "The commission notes that bitcoin is still in the relatively early stages of its development and that, over time, regulated bitcoin-related markets of significant size may develop." The regulators have questions and concerns about how the funds would work and whether they could be priced and trade effectively, according to a financial industry source familiar with the SEC's thinking. "We began this journey almost four years ago, and are determined to see it through," said Tyler Winklevoss, CFO of Digital Asset Services LLC. "We agree with the SEC that regulation and oversight are important to the health of any marketplace and the safety of all investors." Story continues The Winklevoss twins are best known for their feud with Facebook Inc (FB.O) founder Mark Zuckerberg over whether he stole the idea for what became the world's most popular social networking website from them. The former Olympic rowers ultimately settled their legal dispute, which was dramatized in the 2010 film "The Social Network." Since then they have become major investors in the digital currency, which relies on "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles. The first to solve the puzzle and clear the transaction is rewarded with new bitcoins. Solutions to the puzzle come roughly every 10 minutes. Advocates of the currency and the technology it relies on to document transactions, blockchain, were dismayed by the ruling. "How do we develop well-capitalized and regulated markets in the U.S. and Europe if financial innovators aren't allowed to bring products to market that grow domestic demand for digital currencies like bitcoin?" asked Jerry Brito, executive director of Coin Center, an advocacy group. Spencer Bogart, head of research at Blockchain Capital, said bitcoin's price could fall as much as 20 percent but that its long-term adoption will continue. A Bats spokeswoman said the exchange is reviewing the SEC's statement and would have no further comment. There are two other bitcoin ETF applications awaiting a verdict from the SEC. Grayscale Investments LLC's Bitcoin Investment Trust, backed by early bitcoin advocate Barry Silbert and his Digital Currency Group, filed an application last year. SolidX Partners Inc, a U.S. technology company that provides blockchain services, also filed its ETF application last year. (Reporting by Trevor Hunnicutt and Gertrude Chavez-Dreyfuss; Additional reporting by Sarah N. Lynch in Washington and John McCrank in New York; Editing by Sandra Maler and Jennifer Ablan) || 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 could hit $3,000 by the end of the year after recent rally: Analyst: The price of bitcoin (Exchange: BTC=-USS) could hit $3,000 by the end of the year after recently trading above gold and hitting a fresh record high, an analyst told CNBC on Tuesday. A rise on this scale would represent a near 150 percent increase from bitcoin's current price of $1,204 at the time of publication, and a more than 130 percent increase from the fresh $1293.47 high it set last week, according to CoinDesk data. The price of bitcoin at time of publication is not trading above an ounce of gold (Exchange: XAU=) , but the recent rise in price, which is up 195 percent in the past 12 months, has been attributed to a number of geopolitical and broader market factors. These include: Increased regulation from Chinese authorities to clamp down on money laundering Demonetization in India which has caused bitcoin to be seen as an alternative store of value Volatility in other currencies and uncertainty in the global economy Now Adam Davies, a consultant at Altus Consulting, who works with large financial institutions on technology, is predicting bitcoin can go even higher. "In terms of price this year, I think it will go up to $3,000. As it becomes more pervasive and more generally accepted, I think you'll see rapid growth in adoption," Davies told CNBC in an interview on Tuesday. "People are unsure about what is going on in the world, and digital currencies unlike the U.K. pound sterling have been hit badly because of Brexit, so people are looking to divest into bitcoin. There is a definitely upward trend. So the drivers will be hedging against currency fluctuations and insecurity in the markets." Peter Smith, CEO of Blockchain, a bitcoin wallet, told CNBC by email that his company is seeing "unprecedented volume and sign ups", adding that at the current price appreciation, a £3,000 dollar price by the end of the year is "feasible". Experts said a number of other factors could help boost bitcoin this year. These include: The expected approval of a bitcoin-based exchange traded fund created by Tyler and Cameron Winklevoss. This could lead to a "flood of institutional funds" entering the market, according to Thomas Glucksmann, head of marketing at cryptocurrency trading platform Gatecoin. Japan has recently passed a bill that deems digital currencies as similar to fiat money and can be used as methods of payments, which could further the credibility to the cryptocurrency, which was once seen as just a means to buy illegal drugs Story continues Glucksmann said that $3,000 by the end of the year seems "realistic" but somewhere in the region of $2,000 to $2,500 is a safer prediction. "The bitcoin price will continue to rise this year although it's difficult to say by exactly how much," Glucksmann told CNBC. Disclosure: Adam Davies of Altus Consulting owns bitcoin || U.S. regulators reject Bitcoin ETF, digital currency plunges: By Trevor Hunnicutt and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - The U.S. Securities and Exchange Commission on Friday denied a request to list what would have been the first U.S. exchange-traded fund built to track bitcoin, the digital currency. Investors Cameron and Tyler Winklevoss have been trying for more than three years to convince the SEC to let it bring the Bitcoin ETF to market. CBOE Holdings Inc's (CBOE.O) Bats exchange had applied to list the ETF. The digital currency's price plunged (BTC=BTSP), falling as much as 18 percent in trading immediately after the decision before rebounding slightly. It last traded down 7.8 percent to $1,098. Bitcoin had scaled to a record of nearly $1,300 this month, higher than the price of an ounce of gold, as investors speculated that an ETF holding the digital currency could woo more people into buying the asset. 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. Yet bitcoin presents a new set of risks to investors given its limited adoption, a number of massive cybersecurity breaches affecting bitcoin owners and the lack of consistent treatment of the assets by governments. "Based on the record before it, the Commission believes that the significant markets for bitcoin are unregulated," the SEC said in a statement. "The commission notes that bitcoin is still in the relatively early stages of its development and that, over time, regulated bitcoin-related markets of significant size may develop." The regulators have questions and concerns about how the funds would work and whether they could be priced and trade effectively, according to a financial industry source familiar with the SEC's thinking. "We began this journey almost four years ago, and are determined to see it through," said Tyler Winklevoss, CFO of Digital Asset Services LLC. "We agree with the SEC that regulation and oversight are important to the health of any marketplace and the safety of all investors." Story continues The Winklevoss twins are best known for their feud with Facebook Inc (FB.O) founder Mark Zuckerberg over whether he stole the idea for what became the world's most popular social networking website from them. The former Olympic rowers ultimately settled their legal dispute, which was dramatized in the 2010 film "The Social Network." Since then they have become major investors in the digital currency, which relies on "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles. The first to solve the puzzle and clear the transaction is rewarded with new bitcoins. Solutions to the puzzle come roughly every 10 minutes. Advocates of the currency and the technology it relies on to document transactions, blockchain, were dismayed by the ruling. "How do we develop well-capitalized and regulated markets in the U.S. and Europe if financial innovators aren't allowed to bring products to market that grow domestic demand for digital currencies like bitcoin?" asked Jerry Brito, executive director of Coin Center, an advocacy group. Spencer Bogart, head of research at Blockchain Capital, said bitcoin's price could fall as much as 20 percent but that its long-term adoption will continue. A Bats spokeswoman said the exchange is reviewing the SEC's statement and would have no further comment. There are two other bitcoin ETF applications awaiting a verdict from the SEC. Grayscale Investments LLC's Bitcoin Investment Trust, backed by early bitcoin advocate Barry Silbert and his Digital Currency Group, filed an application last year. SolidX Partners Inc, a U.S. technology company that provides blockchain services, also filed its ETF application last year. (Reporting by Trevor Hunnicutt and Gertrude Chavez-Dreyfuss; Additional reporting by Sarah N. Lynch in Washington and John McCrank in New York; Editing by Sandra Maler and Jennifer Ablan) || Bitcoin trading shrivels under Chinese government's glare: By Brenda Goh SHANGHAI (Reuters) - Trading volumes at China's three largest bitcoin exchanges have plummeted after the central bank put the virtual currency market under sharper scrutiny a month ago in a move that coincided with official efforts to stem capital outflows. China had been the world's leading venue for bitcoin trading, with analytics site Bitcoinity estimating that the OkCoin, Huobi and BTCC exchanges had accounted for more than 90 percent of the global bitcoin market on Jan. 11. But data compiled by analytics platform Sosobtc showed the number of bitcoins traded on the three exchanges slumped from 13.6 million on Jan. 6 to just over 120,000 on Feb. 9. The People's Bank of China launched checks into the three exchanges last month and they have responded by saying that they would improve their systems to prevent money laundering and the use of bitcoin to trade against the yuan. On Thursday, the People's Bank of China said it had also warned smaller bitcoin exchanges that it would shut them down if they violated regulations. While the yuan weakened 6.6 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs. That, and the relative anonymity the digital currency offers, has prompted some market operators to believe bitcoin had become an attractive, if niche, option for tech-savvy Chinese to hedge against the yuan and skirt rules limiting how much foreign exchange individuals can buy each year. The three main exchanges have introduced trading fees, stopped allowing margin lending and increased scrutiny of user identities, making it far less attractive for automated, high speed trades which had previously accounted for the lion's share of their business. The absence of trading fees had provided an advantage over overseas rivals earlier, but that advantage has now gone, traders said. Business has virtually dried up on Beijing-based high-speed bitcoin trading platform BotVS, according to chief executive Chen Zhenguo. "With the transaction fees the profits you can get from hedging (Bitcoin) are too low...You might as well put your money in Yu'e Bao," he said, referring to a money market fund run by an Alibaba Group affiliate. Other traders voiced similar sentiments. Cai Wenhao, business manager at Sosobtc, said trading volume levels in China would likely normalize to around those seen on exchanges elsewhere, like the Hong Kong-based Bitifinex and U.S.-based Coinbase. (Reporting by Brenda Goh; Additional Reporting by SHANGHAI Newsroom and John Ruwitch; Editing by Simon Cameron-Moore) || Bitcoin could be on the edge of a cliff: (A Bitcoin sign is seen in a window in TorontoThomson Reuters)
Let me be clear: I do not trade bitcoin, but I do write about it often.Before going into journalism, I spent my days trading. I learned a lot about technical analysis during that time, and right now, technical analysis spells huge trouble ahead for the cryptocurrency.
Let's recap what has been going on in the bitcoin market so far this year.
Bitcoin rallied 120% in 2016 and has been thetop-performing currencyin each of the last two years. It opened 2017 by gaining 20% in the first week before crashing 35% on news thatChina was going to consider clamping downon trading.
Since then, bitcoin has ripped higher by more than 50% even in the face of several pieces of bad news.
First, China's biggest bitcoin exchanges said they were going to start charging a 0.2% fee on all transactions (previously there was no fee). This was significant asnearly 100% of bitcoin's trading volumetakes places on China's exchanges.
Then, China's biggest exchanges said they were going toblock withdrawalsfrom trading accounts.
But bitcoin kept climbing higher.It put in a record high of $1,327 a coin on March 10 as traders piled in ahead of the US Securities and Exchange Commission's ruling on theWinklevoss twins' bitcoin exchange-traded fund(ETF). The SEC denied the ETF. There are two more SEC rulings on the way, the next being on March 30. Neither one is expected to pass.That ruling sent bitcoin crashing 16% lower, but again it was ultimately resilient in the face of bad news. Prices snapped back up in overnight trade and ended the following session above the previous day's opening price.
All of those ups and downs, though, have left the cryptocurrency in a precarious position. Take a look at a bitcoin chart:
(Investing.com)
The chart pattern appears to be putting in a classicdouble toppattern. In very simple terms, that's describing those two peaks you see highlighted above.
What the double top does, is give us a clue to where traders will go from buying to selling bitcoin. In order for this pattern to be activated, bitcoin would have to close below the neckline, which appears near the $1,100 level.
And while that hasn't happened yet, there is another troubling sign that's popping up on the charts.
(bitcoinity.org)
Bitcoin volume exploded into the end of 2016, but has vanished in 2017. This means that as the price was going up, the drop in volume didn't support the price trend. In other words, there wasn't any conviction behind the move. It appears that the transaction fees implemented by China's biggest exchanges have caused participation to dry up.
So where is bitcoin headed?
If the cryptocurrency falls below the neckline drawn on the first chart, the charts suggest a trip to the $900 area is likely. That's $300 a coin less than it's current level, or a 25% drop.
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Here is what you need to know.
Tesla is getting ready to start making the Model 3.The electric-car maker announced on Wednesday that it would shut down production at its California plant for a week later this month to get things ready to start producing its Model 3 on February 20, Reuters reports.
Whole Foods misses and slashes guidance.The upscale grocer missed on both the top and bottom lines, earning $0.30 a share on revenue of $4.92 billion. The company slashed its 2017 full-year EPS guidance to at least $1.33 from its previous guess of $1.42.
The DOE is selling 10 million barrels of oil from the Strategic Petroleum Reserve.The sale will take place in late February and is required by a law passed last year, Reuters says. Over the next three years, the Department of Energy is required to sell 25 million barrels.
The PBOC is going after bitcoin.In a statement posted on the People’s Bank of China's website on Thursday, the bank said it told the country's bitcoin exchanges during a meeting held on Wednesday not to take part in financial activities such as margin lending or to allow money laundering. Bitcoin is little changed near $1,066 a coin.
Germany's gold repatriation is ahead of schedule.Germany's central bank has brought back 538 tons of gold from New York and Paris and plans to have half its gold back in Germany in 2017, three years ahead of schedule, according to Reuters.
The Bank of Mexico meets.Mexico's central bank is expected to hike its key interest rate by 50 basis points as it looks to cool inflation tied to a spike in gas prices. The decision will cross the wires at 2 p.m. ET.
Saudi Arabia has picked a legal adviser for the world's biggest IPO.Saudi Arabia will use the international law firm White & Case for the planned IPO of Saudi Aramco, its state-owned oil giant.
Earnings reporting remains heavy.Coca-Cola, CVS, Dunkin', Twitter, and Yum are among the names reporting ahead of the opening bell.
Stock markets around the world trade mixed.Japan's Nikkei (-0.5%) was the laggard in Asia, and France's CAC (+0.6%) is out front in Europe. The S&P 500 is on track to open higher by 0.3% near 2,300.
US economic data remains light.Initial jobless claims will be released at 8:30 a.m. ET. The US 10-year yield is higher by 4 basis points at 2.37%.
***Bonus***
New York City schools are closed.Severe weather conditions have shuttered schools across New York City on Thursday as the area is expected to receive10 to 14 inches of snow accumulation.
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[Random Sample of Social Media Buzz (last 60 days)]
BTC ↑ ask:121972 bid:121956
F X ↑ ask:121935 bid:121911
ETH ↓ ask:0.01217 bid:0.01212 || #bitcoin #miner ANTMINER S9-B7 16nm with 2 hashboards - 8.5 TH/S $999.00 http://ift.tt/2kZLagp pic.twitter.com/Ac8SQugtf4 || 1 BTC Price: BTC-e 914.97 USD Bitstamp 925.00 USD Coinbase 926.96 USD #btc #bitcoin 2017-01-31 02:30 pic.twitter.com/ZOIAsNQsVu || Buckle up guys, it's happening http://dlvr.it/NPW6G0 #bitcoin #digitalnomadpic.twitter.com/3OuaRFiiz4 || Did you know that you can buy #bitcoins with your debit and credit cards at SpectroCoin? #bitcoinwallet #btc #blockchainpic.twitter.com/QjuVEuQf5q || 2017-02-13 00:00
1 BTC son: 5.804.395Gs. #btc #gs #pyg #bitcoin #paraguay #guaranies || LIVE: Profit = $0.22 (0.13 %). BUY B0.14 @ $1,215.00 (#BTCe). SELL @ $1,223.90 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || Earn $25/Hr Paid To Your Bitcoin Wallet! Automated system! https://goo.gl/eXvntg #workfromhomepic.twitter.com/NMPs7Gn6mm || $921.08 at 23:30 UTC [24h Range: $910.00 - $923.00 Volume: 3023 BTC] || Cryptsy class action lawsuit via /r/BitcoinMarkets http://bit.ly/2lbVfUa #bitcoin #finance #marketspic.twitter.com/EYBKeCOwG4
|
Trend: down || Prices: 1054.23, 1120.54, 1049.14, 1038.59, 937.52, 972.78, 966.72, 1045.77, 1047.15, 1039.97
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-03-28]
BTC Price: 7954.48, BTC RSI: 37.49
Gold Price: 1324.20, Gold RSI: 48.75
Oil Price: 64.38, Oil RSI: 56.18
[Random Sample of News (last 60 days)]
Snapchat's Redesign Threatens to Undermine the Good Earnings News: It's one step forward, two steps back forSnap(NYSE: SNAP), which was basking in the glow of abetter-than-expected earnings report, only to be lambasted by, well, just about everyone over a seemingly botched app redesign.
CEO Evan Spiegel is putting up a brave front, saying the complaints "validate" the changes that were made and that he is "excited" about the response so far. Sure, that's the feeling anyone would get when they see one online petition garnering over 1.2 million signatures urging Snapchat to change the app back to the way it used to be.
Image source: Snap.
Snap has no intention of undoing the changes it's made, saying only that the new design "can take a little getting used to." That's the real risk: The intransigence of management to admit it may have made a mistake could very well alienate the new users the app has only just begun to attract again.
After a year of numerous missteps following its initial public offering, Snap looked like it had gotten itself back on track. Its fourth-quarter earnings report showed the number of daily active users increased 8.9 million to 187 million, an 18% gain over the year-ago period and the first time in two years it had posted a higher rate of growth.
Even its recent decision to beginbroadcasting live updatesfrom the Winter Olympics in Pyeongchang, South Korea, but to not allow users to do so, looked like a wise move considering the controversial content that's often found its way ontoFacebook's live programming, and evenAlphabet's YouTube's.
Yet all that's at risk if there really is this groundswell of opposition to the app's makeover.
The redesign, which was originally announced in November, is the biggest overhaul of the application Snap's performed so far in a bid to keep its users engaged. The update walls off content from friends and family from that posted by celebrities and media. Instead of receiving all the content in one spot, users have to swipe left to get content from friends and family and swipe right for branded and celebrity content.
But users don't like the change, as the petition signatories make clear, saying that rather than making the app easier to use, it does the opposite and renders some content useless.
Part of the problem with separating the content the way Snap has done is that many users feel a kinship with celebrities, and the change makes them feel like they're no longer friends. Spiegel dismisses the complaint, saying: "Exactly. They're not your friend."
Regardless of the truth of the statement, that kind of hubris doesn't help Snap. It's not up to the app whether its users are feeling an imaginary bond with entertainers. If that makes them more engaged on the app, then it's all good. It's called a "user experience" for a reason.
Another complaint about the redesign is that direct messages are scattered among the posts that disappear; friends with whom you frequently engage are topmost, but those with whom you interact less frequently are harder to find.
The changes that Snap made indicate a desire to differentiate the user experience in Snapchat from what's offered by Facebook or Instagram. In Facebook's News Feed, for example, content from friends and family is mixed in with sponsored corporate messages, branded video, and more. It's all a mishmash. But Spiegel has said your friends are different from the commercial interests, celebrities included. "They're relationships."
But what Spiegel believes and what users want may not be the same. Change can be jarring, and right after a major overhaul, users may feel like they're in unfamiliar territory. While the CEO says he feels even more engaged with the app after using it for several months, he may find that users are so alienated by the changes that they don't hang around long enough to have it grow on them.
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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors.Rich Dupreyhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Facebook. The Motley Fool has the following options: short March 2018 $200 calls on Facebook and long March 2018 $170 puts on Facebook. The Motley Fool has adisclosure policy. || GBP/USD Price Forecast March 12, 2018, Technical Analysis: The British pound has rallied significantly during the trading session on Friday, as the jobs number in the United States for the month of February came out strong. Because of this, it looks as if we are starting to see a bit of a risk on move, and I believe that the market will eventually reach towards the 1.39 level, sending this market towards the 1.40 level after that. Overall, I believe the pullbacks will continue to offer potential buying opportunities, but I recognize that it will be very noisy overall, so its difficult to imagine putting a lot of money into this market. However, if we can break above the 1.40 level, the market can continue to go much higher, perhaps reaching towards the 1.43 level eventually. The 1.38 level underneath should offer short-term support, and I believe that every time we pull back there will be value hunters coming into this market place. However, I would start out with small positions, as the volatility should be rather large. If the market moves in your favor, then its okay to start adding, but in the meantime, its going to be very difficult to go in with both feet, and therefore I think that this is a marketplace that will continue to cause a lot of concerns and nervous trading until we can break above the resistance barrier. Expect a lot of noise, but at this point I believe in the uptrend still. GBP/USD Video 12.03.18 This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Price forecast for the week of March 12, 2018, Technical Analysis GBP/JPY Price forecast for the week of March 12, 2018, Technical Analysis Natural Gas Price forecast for the week of March 12, 2018, Technical Analysis Ethereum Price forecast for the week of March 12, 2018, Technical Analysis Silver Price forecast for the week of March 12, 2018, Technical Analysis DAX Index Price forecast for the week of March 12, 2018, Technical Analysis || Cryptocurrency comes storming back after a blockbuster regulatory hearing on Capitol Hill: Screen Shot 2018 02 06 at 4.29.56 PM MI The market for digital currencies was on a tear Tuesday afternoon after two major US regulators addressed members of the Senate on cryptocurrency. Bitcoin picked up more than 12% in afternoon trading, and the cryptocurrency market added $40 billion in value. Regulators are taking a "do no harm approach" to the crypto market, while monitoring activity in the ICO market closely. Lawmakers pressed the two top financial regulators during a morning hearing on cryptocurrency — and now the market for digital currency is storming back. The price of bitcoin, which has had a bearish start to the year, soared past $7,700 during Tuesday's trading session. At the time of writing, the coin was trading up 12% against the US dollar at $7,756 — a more than $1,700 increase from its daily low set early Tuesday morning. Meanwhile, the market for digital currencies picked up more than $40 billion in market capitalization over the last 10 hours. Tuesday's rally ramped up soon after Jay Clayton, the head of the Securities and Exchange Commission, and J. Christopher Giancarlo, the chairman of the Commodity Futures Trading Commission, addressed members of the Senate Banking, Housing, and Urban Affairs committee on the red-hot topic of bitcoin, blockchain technology, and cryptocurrency. The long and short of the hearing: US regulators see the transformative potential within blockchain technology and cryptocurrency. But they also see a nascent market in need of more policing. "We sort of got what we hoped for and expected," said Peter Van Valkenburgh, director of research at Coin Center, a cryptocurrency think tank based in Washington DC, in an interview with Business Insider. "We were expecting them to say 'we've got this don't worry, we have the authority to police these markets,' and that's basically what unfolded in the hearing." Story continues "The cryptocurrency community seems to be reacting positively to what it heard today," Neeraj Agrawai, a spokesperson for Coin Center, added. Clayton reiterated the agency's stance on initial coin offerings, a cryptocurrency twist on the IPO process. The funding mechanism, which is a darling of young tech companies, has helped some raise hundreds of millions of dollars from mostly mom-and-pop investors, although not without controversy. Already, the SEC has halted a number of ICOs through its Cyber Unit for issuing text-book securities to investors. "There should be no misunderstanding about the law," Clayton said in prepared remarks. "When investors are offered and sold securities — which to date ICOs have largely been — they are entitled to the benefits of state and federal securities laws and sellers and other market participants must follow these laws." Clayton and Giancarlo also praised the underlying technology behind cryptocurrencies — blockchain — and the impact the technology could have on Wall Street. Giancarlo, whose agency gave the green light on bitcoin futures in December, said it would be irresponsible for regulators to ignore that cryptocurrencies have ushered in a "paradigm shift." As such, he said the agency is taking a "do no harm approach." Here's Giancarlo: "I believe that 'do no harm' is the right overarching approach for distributed ledger technology. With the proper balance of sound policy, regulatory oversight and private sector innovation, new technologies will allow American markets to evolve in responsible ways and continue to grow our economy and increase prosperity." The news was well received by one crypto executive. "We welcome these comments," Bruno Wu, the head of Seven Stars Cloud, an operator of a blockchain dark pool, said. "The total size of the cryptocurrency market is not even 1% of the legacy financial system," Wu said. "There is a big opportunity to take the infrastructure that exists in the legacy market and to update it into the crypto era." Bitcoin has had a rough start to 2018, hit by fears of a regulatory crackdown and slipping Asian volumes . The market for digital currency has shaved more than $480 billion of value since hitting an all-time high above $800 billion at the beginning of January. This post has been updated. NOW WATCH: Netflix is headed for a huge profit milestone in 2018 See Also: 2 economists just eviscerated bitcoin, saying it should be trading at $20 A bitcoin conference held an event at a Miami strip club, and you can guess what happened next Bitcoin briefly drops below $9,000 SEE ALSO: Robinhood users ramped up deposits during Monday's market bloodbath || Venezuela Launches Pre-Sale of Its Controversial Oil-Backed Cryptocurrency: Venezuelas government on Tuesday opened the pre-sale of its contentious petro cryptocurrency, making 82.4 million of the blockade-busting virtual coins available for purchase. The Bitcoin-esque petro (the code for which is PTR) is part of a drive to overcome the U.S.s economic blockade against Venezuela and rescue the national economy. President Nicolas Maduro announced it back in December, and the U.S. Treasury has warned investors to steer clear of it. Venezuelas official currency, the bol?var fuerte, is in freefall. Earlier this month, it saw a 99.6% devaluation --the latest in several under the governments of Maduro and his predecessor, Hugo Chavez. Petro is born and we are going to have a total success for the welfare of Venezuela, Maduro said on Tuesday. According to a report by the Caracas-based news agency Telesur, people will at first only be able to buy the petro using hard currencies and other cryptocurrencies, although it will later be possible to sell petros for local currency. Our responsibility is to put (the Petro) in the best hands and then a secondary market will appear," said Carlos Vargas, whos charge of the project. One of the big selling points of cryptocurrencies is--generally--that they are free from the control of any state or central bank. Thats obviously not the case here. The Venezuelan government has said that each petro coin will be backed by a barrel of the countrys oil. Maduro has also claimed that 100 million petros will be made available at a value of more than $6 billion. The countrys opposition-led congress has said this is an illegal forward sale of Venezuelan oil that is ripe for corruption. If and when Maduro leaves office, the cryptocurrency will be nullified, lawmakers warned. Some outside observers are also sceptical about the scheme. Venezuela has been known for misappropriation of assets in the past and the central bank has just created hyperinflation so I imagine therell be trust and transparency issues, Longview Economics director Harry Colvin told CNBC . Story continues See original article on Fortune.com More from Fortune.com This Country Will Experience 13,000% Inflation This Year, IMF Says Venezuela Promises Pregnant Women a Handout That's Worth Almost Nothing 'They're Hunting. The People Are Hungry!' Venezuelans Are Rioting Over Food Shortages Chinese Knockoff Brands Are Taking Inflation-Ravaged Venezuela By Storm Meet the 'Petro,' Venezuela's New Oil-Backed Cryptocurrency Aimed at Skirting U.S. Sanctions || Fear of Credit Card Fees Could Cost You Big Rewards: Given how much Americanslovecredit cards, you wouldn't expect them to shy away from annual fees. That said, only one in four cardholders are willing to pay to use their credit account, according to a 2017 Bankratereport.
It's true that all not all credit card fees are justified, but shunning annual fees altogether could be costing you even bigger rewards. Follow these steps to weigh the tangible merits of credit card rewards against their annual fees.
How do you want your credit card to work for you? Are you interested in frequent flyer miles or cash? Deciding what you want to earn from your credit card rewards is the best way to ensure that the annual fee is a wise investment. For instance, suppose you travel often and want to reap the benefits of all those hours in the air. TheAmerican Express(NYSE: AXP)Platinum Card offers five times the points for every dollar you spend on flights, but the annual fee is a hefty $550.
Image source: Getty Images.
How will you know if it's worth it? Do a test drive by booking a few hypothetical trips. Let's say you travel three times a year and each flight costs around $600, which translates to 9,000 points (or $90) when you book with your Platinum card. Not much, right? But the benefits don't stop there: Remember the other things that dig into your wallet while you're traveling, like a hotel, a rental car, cabs, dining out, etc. When deciding on a card, focus on how it will impact your entire travel experience. In the case of the Amex Platinum card, some of the annual benefits include:
• Five times the membership rewards points on hotels booked through its website.
• Hotel benefits, including free room upgrades, with an average value of $550.
• A $75 hotel credit when you spend two consecutive nights at a qualifying hotel.
• A $200 airline travel credit that you can use to check baggage and order in-flight amenities like snacks and Wi-Fi.
• A $200 Uber credit for rides around town, or to and from the airport.
• Free insurance coverage for rental cars and 24/7 roadside assistance.
The full value of these benefits (assuming you use them all), combined with your airline rewards, will more than eclipse the annual fee. When choosing a credit card, compare the benefits to all your financial needs. You might be missing some perks that justify the up-front cost.
Comparing fees to reward values is a start, but what about the other ways credit card benefits can improve your life, like helping you pay off debt orfinallyplan forretirement? If we're talking about the latter, a cash-back credit card can boost your long-term savings. Let's assume you take the American Express Blue Cash Preferred Card, which has a $95 annual fee. The card offers 6% cash back at U.S. supermarkets for up to $6,000 a year in purchases, then 1% after that. So, in the likely event that you spend $500 a month on groceries, this card will earn you at least $360 a year.
Image source: Getty Images.
It also provides 3% cash back at U.S. gas stations and select U.S. department stores. The average American paid about $1,977 to fill up on gas last year, according to an Energy Information Administration (EIA) report, which would earn another $59 in rewards. Finally, you'll earn 1% cash back on all other purchases. If you're like average Americans, who pay off their balances from month to month, according to Experian, your $13,848 in annual charges will yield another $139 in cash back.
Putting it all together, your annual cash back would total at least $463 after deducting the annual fee. While it's true that the card pays out benefits in credits and gift cards, you can adjust yourbudgetto account for the monthly savings by funneling more money into your 401(k) or other long-term savings account. In this case, $463 works out to an additional $38.58 saved per month. While it doesn't sound like much, compounding interest can yield big rewards over time:
[{"Years of Investing $38.58 a Month": "10", "Earnings (Assumes a 7% Average Annual Return)": "$7,307"}, {"Years of Investing $38.58 a Month": "15", "Earnings (Assumes a 7% Average Annual Return)": "$12,911"}, {"Years of Investing $38.58 a Month": "20", "Earnings (Assumes a 7% Average Annual Return)": "$20,771"}, {"Years of Investing $38.58 a Month": "25", "Earnings (Assumes a 7% Average Annual Return)": "$31,795"}, {"Years of Investing $38.58 a Month": "30", "Earnings (Assumes a 7% Average Annual Return)": "$47,256"}, {"Years of Investing $38.58 a Month": "35", "Earnings (Assumes a 7% Average Annual Return)": "$68,941"}]
You can't afford to overlook nearly $69,000 in retirement funds, and as you can see, saving it over time is virtually painless. Think strategically about how to make the most of your credit card benefits. The right move could literally change your lifestyle.
It's no secret that the most desirable credit cards usually come with annual fees, but there's another requirement that needs your attention: your credit rating. Most high-end cards list "good" to "excellent" credit as a qualifier for cardholders, which includes scores between 670 and 850 points, according to Experian (that said, keep in mind that credit card companies often have their own criteria when it comes to approving an application). Rather than exclude yourself from the running, consider it a challenge to get your financial house in order byimprovingyour scores. The rewards that come with better credit will outshine any benefits from a credit card.
Image source: Getty Images.
For example, a 685-point credit score will qualify you for a $300,000 mortgage at 4.288% APR, according to myFICO. On the other hand, increasing your score to 760 will lower your interest rate to 3.889% APR. That may not sound like much, but it would save you nearly $25,000 in interest over the life of the loan. With all that extra cash, you'll be able to use your new credit card wisely.
Spending can be painful, but don't let an unfounded fear of annual fees keep you from reaping bigger rewards. Dust off your arithmetic skills and consider the bigger picture.
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Sarah Szczypinskihas no position in any of the stocks mentioned. The Motley Fool recommends American Express. The Motley Fool has adisclosure policy. || 37 States That Don't Tax Social Security Benefits: Around one third of Americans expect Social Security will be a major source of their retirement income, according to a 2017 Gallup poll. If you're going to be reliant on Social Security to fund your lifestyle as a retiree, it's important you understand exactly how much money you'll have available to you. This means not only figuring out what your benefit will be worth depending upon your age at retirement, but also determining if you'll lose a portion of your Social Security benefits to income taxes. While the federal government does tax some of your benefits once your income reaches a certain level, the good news is that a lot of Americans live in states that won't tax Social Security. In fact, there are a total of 37 states where you can enjoy your Social Security benefits without paying state taxes on this important source of income. Social security card with money. Image source: Getty Images. Which states don't tax Social Security benefits? The 37 states that do not tax Social Security benefits include Alabama, Alaska, Arizona, Arkansas California, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Nevada, New Hampshire, New Jersey, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Virginia, Washington, Wisconsin, and Wyoming. Washington D.C. also exempts Social Security income from local income taxes . Map showing 37 states that do not tax Social Security benefits. Image created by author. While some of these states are generally tax-friendly for retirees, others still require seniors to pay a substantial amount of other taxes, including high property and sales taxes. New York, Massachusetts and California, for example, are some of the nation's highest taxed states. It's important to consider all taxes you may have to pay as a retiree -- including taxes for property, 401(k) and pension income, sales tax, gas taxes, and other state and local taxes -- when you make a decision on where to live during your golden years. Story continues You could still owe federal taxes on Social Security benefits If you live in a state that doesn't tax your Social Security benefits, this doesn't necessarily mean you'll enjoy totally tax free income from Social Security. There are federal taxes to pay once your total income reaches a certain threshold: If your income exceeds $25,000 for single filers or $32,000 for married filing jointly, you'll be taxed on 50% of your Social Security benefits. If your income exceeds $34,000 for single filers or $44,000 for married filing jointly, you'll be taxed on 85% of your Social Security benefits. Not all income counts when determining if you're taxed. The IRS considers half of your Social Security benefits, along with all taxable Social Security income such as 401(k) distributions. Some non-taxable income, including interest income from muni bonds, also counts -- but tax-free distributions from your Roth IRA aren't factored in. Minimize your tax burden by choosing a tax-friendly state to retire When you're living on a fixed income from Social Security, every dollar counts. You want to make the most of your retirement money and one of the best ways to keep more of your cash in your pocket is to consider living in a tax-friendly state. Fortunately, you have lots of great places to live where the cost of living is reasonable and your Social Security benefits won't be taxed. By taking a little time to research the best states for retirees , you can find the perfect place to set up your retirement home where the minimum amount of your money will go to the government. Related:Why Millenials Need To Save Money For The Future More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has a disclosure policy . || Carl Icahn: Bitcoin and other cryptocurrencies are 'ridiculous' — 'I wouldn't touch that stuff': Billionaire investor Carl Icahn told CNBC on Tuesday that he has an unfavorable view of bitcoin (Exchange: BTC=) and other cryptocurrencies, calling them "ridiculous." "I don't like the cryptocurrencies only because, maybe I don't understand them," the chairman of Icahn Enterprises said in an interview on " Fast Money Halftime Report ." "How do you regulate them?" "Maybe I'm too old for them," Icahn said, "but I wouldn't touch that stuff." Bitcoin was recovering from three-month lows Tuesday, trading near the $7,000 level, according to CoinDesk. Bitcoin and other cryptocurrencies have dipped in recent weeks amid worries about increased regulation. Despite bitcoin's popularity, there are also more big-name naysayers. At the World Economic Forum in Davos, Switzerland, last month, bitcoin was hammered by many top business leaders. J.P. Morgan Chase Chairman and CEO Jamie Dimon has said virtual currencies would never be a major competitor to the dollar. But he's indicated blockchain could be used for more efficient transactions. Dimon recently said he regrets calling bitcoin a "fraud" back in September. Last month, billionaire investor Warren Buffett told CNBC he believes the recent craze over bitcoin and other cryptocurrencies won't end well. Even late last year, Icahn said bitcoin seemed " like a bubble ." Icahn is a noted activist investor. He became an advisor on regulation to President Donald Trump but resigned in August.
DisclaimerMore From CNBC
• BlackRock distances itself from funds that have freaked out the market
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• Since Trump's election, he has tweeted about the stock market at least 60 times || Genomic Health Hits its Inflection Point: Genomic Health(NASDAQ: GHDX)managed to post its 10th consecutive quarter ofimproving earnings, but more importantly, the cancer-test maker appears to be at an inflection point where revenue growth will accelerate, helping the bottom line increase substantially.
[{"Metric": "Revenue", "Q4 2017": "$87.5 million", "Q4 2016": "$82.7 million", "Year-Over-Year Change": "5.7%"}, {"Metric": "Income from operations", "Q4 2017": "$2.15 million", "Q4 2016": "$1.49 million", "Year-Over-Year Change": "44%"}, {"Metric": "Earnings per share", "Q4 2017": "$0.05", "Q4 2016": "$0.04", "Year-Over-Year Change": "25%"}]
Data source: Genomic Health.
• Genomic Health delivered more than 31,990 Oncotype tests during the quarter, up 7% year over year.
• The prostate cancer test continues its solid launch, with test volume up 33% and revenue up 39% as the company gets reimbursed for more of the tests. Genomic Health estimates it has about 20% of the overall prostate cancer market and is the leader of adoption for patients with low and intermediate-risk prostate cancer.
• Unfortunately, despite the solid growth, prostate cancer test revenue only contributed $5 million in the quarter, so it doesn't move the overall revenue line that much. New guidelines published by the National Comprehensive Cancer Network, which recommend doctors consider molecular testing for men with low- and favorable intermediate-risk prostate cancer, should help boost the overall market for prostate cancer tests.
• Management didn't break out the fourth-quarter numbers for the U.S. breast cancer test, which make up the bulk of revenue, but noted that the fourth quarter was the strongest quarter for growth in the year -- a year in which breast cancer test volume increased 3%.
• Internationally, revenue was up 14% year over year in the fourth quarter, adding $13.7 million. Test volume was only up 3%, but that was largely due to a decision to require reimbursement in Germany. Excluding Germany from the numbers, international test volume was up 10%.
• Economies of scale helped turn more of the extra revenue into income, allowing the bottom line to grow faster than the revenue line.
• The company made a couple of deals at the end of the year: a multiyear research collaboration withJohnson & Johnson's(NYSE: JNJ)Janssen Pharmaceuticals, to evaluate the Oncotype DX GPS test with Johnson & Johnson's prostate cancer drug pipeline, and a licensing agreement with Cleveland Diagnostics, to develop and commercialize a high-PSA reflex test to improve the diagnosis of prostate cancer.
• This quarter, the company launched the Oncotype DXAR-V7Nucleus Detect, a liquid biopsy test to help doctors pick the best treatment for patients with metastatic castration-resistant prostate cancer.
• Genomic Health decided to stop development of the Oncotype SEQ Liquid Select test and other tests based on next-generation sequencing panels, which will result in a $10 million charge in the first quarter. While it's clearly disappointing to have wasted the resources, Genomic Health sees a bigger opportunity to move its current tests onto Biocartis Group's Idylla platform, which should help with future growth -- especially internationally, where it's easier to get reimbursement on Biocartis' system.
Image source: Getty Images.
Kim Popovits, Genomic Health's chairman, CEO, and president, pointed to three sources of growth in the (previously fairly stagnant) market in the U.S. for invasive breast cancer diagnostics:
In our core U.S. invasive breast cancer business, where we have 60% market penetration, three key catalysts position us to drive higher utilization and revenue, including the recent implementation of AJCC [see below] breast cancer staging criteria, which named Oncotype DX specifically; PAMA [see below] market-based pricing, representing more than a 10% increase to our Medicare rate, or an estimated $6 million to $8 million to the top line in 2018; and likely the most important, the expected near-term readout of the TAILORx intermediate results.
For those filling out your acronym bingo cards at home, that's:
• AJCC: American Joint Committee on Cancer, a group that advises doctors on how to determine what stage a tumor is at. AJCC is recommending using Oncotype DX as one of the tests to help determine the course of treatment.
• PAMA: Protecting Access to Medicare Act, a law that will increase Genomic Health's Medicare reimbursement rate.
• TAILORx: Trial Assigning IndividuaLized Options for Treatment (Rx), a clinical trial testing molecular profiling to help determine the best treatment course for breast cancer patients.
For a little more context on TAILORx, Popovits added:
As a reference point, when the secondary endpoint of TAILORx in patients with recurrence scores less than 11 was published inThe New England Journal of Medicinein 2015, we saw a 5% increase in tests delivered. We expect the results for patients with recurrence scores of 11 to 25 to be reported by study investigators in the first half of this year.
Assuming everything coming together with the U.S. breast cancer market, continued growth of the prostate cancer market, and a successful launch of the Oncotype DX AR-V7 test, management thinks revenue will increase by 10% to 15% this year. However, that includes a new ASC 606 accounting standard, which will reduce revenue by about 2.5%, but won't have any effect on earnings.
Looking at the bottom line, adjusted net income is expected to be in the range of $14 million to $20 million, up substantially from the $0.4 million in adjusted net income last year.
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Brian Orellihas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Genomic Health and Johnson & Johnson. The Motley Fool has adisclosure policy. || Crypto Mania Puts NVIDIA and AMD in a Tough Spot: Graphics cards are in short supply as a result of cryptocurrency miners buying them up in an attempt to profit from the ongoing mania. BothNVIDIA(NASDAQ: NVDA)andAdvanced Micro Devices(NASDAQ: AMD)are having trouble keeping up with demand, leading to elevated prices and slim pickings for PC gamers.
Both companies are trying to ramp up production. CEO Lisa Su said as much during AMD's latest earnings call, and NVIDIA CEO Jensen Huang recently told TechCrunch that "we have to build a whole lot more" in order to keep up with demand. As long as cryptocurrency prices remain high enough to sustain demand from miners, this strategy makes sense. But it could backfire for both companies when the mania eventually comes to an end.
Image source: Getty Images.
NVIDIA and AMD want to put as many graphics cards in the hands of gamers as possible. "Cryptocurrency is not our business," Huang told TechCrunch. But with those mining cryptocurrencies buying through the same channels as gamers, there's no easy way to do that without boosting supply.
But growing production of GPUs, beyond what gamers alone could consume, comes with a significant risk. If the bubble in cryptocurrencies comes to an end, a big source of demand for both companies could disappear quickly and without much warning. That would solve the undersupply problem, but it could create an oversupply problem, pushing down prices in the process.
Exacerbating that issue would be a flood of used graphics cards hitting the market from cryptocurrency miners unable to turn profit. Those cards wouldn't be all that desirable, given they were likely run at full load 24/7, shortening their life-span. But that deluge would increase supply even further.
Cryptocurrency prices have tumbled so far this year as the euphoria of 2017 began to fade away. Ethereum, the second-largest cryptocurrency by market capitalization and akey driver of demand for graphics cards, has lost about two-thirds of its value since early January. The price could plunge even further if reports of specialized Ethereum mining hardware, capable of supplanting GPUs, prove accurate.
The days of dramatically overpriced graphics cards won't last forever, because all bubbles eventually burst. That's good for gamers, but not so much for NVIDIA and AMD.
When demand from cryptocurrency miners vanishes, both NVIDIA and AMD will lose a meaningful amount of revenue. Exactly how much is up for debate, since estimating how many graphics cards are ultimately being used for cryptocurrency mining isn't a simple task.
AMD believes that cryptocurrency was responsible for a mid-single-digit percentage of its revenue in 2017. Jon Peddie Research, which tracks GPU sales,puts it closer to 10%,depending on the split between NVIDIA and AMD. An analyst with Susquehanna Financial Group puts it as high as 20%. That 20% figure seems high, since that would represent almost all of AMD's revenue growth last year. Somewhere between 5% and 10% is probably a reasonable guess, although it could be higher.
For NVIDIA, the percentage is likely lower. The company generated quite a bit more total revenue than AMD last year, and Jon Peddie Research found that AMD was the primary benefactor of cryptocurrency-related demand. Still, how accurate any of these estimates are won't be apparent until the bottom falls out of the cryptocurrency market.
The worst-case scenario for NVIDIA and AMD: a ramping of production at the precise moment demand for GPUs from cryptocurrency miners falls off a cliff, leading to an oversupply of graphics cards made even worse by miners dumping their used cards. This will hurt AMD more than NVIDIA, but neither will escape unharmed.
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Timothy Greenhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Nvidia. The Motley Fool has adisclosure policy. || Coinbase addresses Ripple rumors, says it has made no decision on adding new coins: Coinbase just threw a bit of cold water on Ripple enthusiasts eager to see their coin hit the popular mainstream exchange.
Rumors thatRipple’s XRPwould be next in line after Bitcoin Cash reached a fever pitch this week among coin hype types, with some reading between the lines of a Tuesday segment of CNBC’s Fast Money that’s set to feature Ripple CEO Brad Garlinghouse and Coinbase President Asiff Hirji in what appears to be a panel discussion on cryptocurrency trends.
Speculation based on the Fast Money segment drove XRP up to $1.07, up about 6% from weekly averages. Ripple's XRP remains the only coin in the top five by market cap that isn't available on Coinbase, though given XRP's centralized nature andvery different aimswhen compared to other cryptocurrency projects, its absence isn't that surprising. Still, there is plenty of trading interest and those things don't preclude Coinbase from adding XRP in the future were it to choose to do so.
Responding to the rumors, Coinbase tweeted "Our January 4th, 2018 statement continues to stand: we have made no decision to add additional assets to either GDAX or Coinbase. Any statement to the contrary is untrue and not authorized by the company." Following the statement, XRP slid back modestly toward its previous averages.
The company also linked to aJanuary 5 blog poston its criteria for adding new assets. That post states that “Coinbase will announce the addition of new assets only via our blog post or other official channels.” The company likely isn’t eager to repeat the chaos around theintroduction of Bitcoin Cash. Support for Coinbase’s newest asset was announced officially well ahead of time, but the rollout itself was marred by massive premiums, a trading freeze and an internal insider trading investigation.
Disclosure: The author holds a small position in some cryptocurrencies. Regrettably, it is not enough for a Lambo.
• This article originally appeared onTechCrunch.
[Random Sample of Social Media Buzz (last 60 days)]
Check out our new episode of The Bitology Podcast! We announce our #ripple giveaway winner and #tron giveaway winner. We also talk about if this is the end of #bitcoin. #giveaway #crypto #cryptocurrency
Check out our new store too http://mybitology.com/shop https://soundcloud.com/mybitology/episode-4-is-this-the-end-of … || #BTC KEY RESISTANCES
Woke up to #BTC slightly higher = $11,354.00
Key resistance points to test for breakout:
1: $12,150
2: $12,800
3: $13,750
4: $15,000
Still very uncertain. Careful out there. || Senate to spotlight virtual currencies as bitcoin plunges – Reuters Politics https://dailymarkhor.business/senate-to-spotlight-virtual-currencies-as-bitcoin-plunges-reuters-politics/ … || 8GPU Plus Mining Rig Machine Power Supply For Bitcoin ETH Antminer 8 Card 1250W - C $216.84 End Date: Wednesday Mar-7-2018 22:31:55 EST Buy It Now for only: C $216.84 Buy It Now | Add to watch list http://ow.ly/Hy9150go4tK || Gana $45,00 Usd Por Afiliar, Quieres ganarte dólares con Bitcoin sin tanto esfuerzo? Es solo dedicar u ··- https://goo.gl/Cdo6SQ * # || $BTC 30 min looking nice pic.twitter.com/7pjSYOqH8M || #BTC Average: 8309.02$
#Bitfinex - 8189.40$
#Poloniex - 8190.00$
#Bitstamp - 8178.25$
#Coinbase - 8096.14$
#Binance - 8169.98$
#CEXio - 8339.30$
#Kraken - 8174.00$
#Cryptopia - 8150.13$
#Bittrex - 8178.00$
#GateCoin - 9425.00$
#Bitcoin #Exchanges #Price || #BTC Average: 9039.51$
#Bitfinex - 10014.00$
#Poloniex - 10037.55$
#Bitstamp - 9865.03$
#Coinbase - 9883.00$
#Binance - 10088.88$
#CEXio - 10559.50$
#Kraken - 9870.00$
#Cryptopia - 10027.12$
#Bittrex - 10050.00$
#GateCoin - API DOWN!$
#Bitcoin #Exchanges #Price || Is it too early to call today a win for all #hodlers #thereishope time to bull $btc || So far #bitcoin is the worst investment by far that I've ever made. I bought high. I believed in the story. The pain is MASSIVE. Too many #altcoins, too much dilution. Yet I soldier on holding my #btc like a beefeater guards the crown jewels. Only from my dead cold hands.
|
Trend: down || Prices: 7165.70, 6890.52, 6973.53, 6844.23, 7083.80, 7456.11, 6853.84, 6811.47, 6636.32, 6911.09
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-08-25]
BTC Price: 4371.60, BTC RSI: 70.24
Gold Price: 1292.50, Gold RSI: 64.28
Oil Price: 47.87, Oil RSI: 50.24
[Random Sample of News (last 60 days)]
'Petya' cyber attack: List of affected companies shows scale of hack: The 'Petya' cyber attack is affecting major companies around the world. The ransomware, which is being likened to WannaCry , which crippled the NHS in May, initially attacked businesses in Ukraine, but has spread to more countries, including Russia and the UK. It's locking users out of their computers, and demanding a payment of $300 in Bitcoin from them. However, experts have warned against paying the ransom, as doing so could encourage similar attacks in the future. These are the companies and organisations that have confirmed they've been affected by the Petya attack. Rosneft Russias top oil producer Rosneft said its servers had been hit been a large-scale cyber attack but its oil production was unaffected. A.P. Moller-Maersk Danish shipping giant A.P. Moller-Maersk, which handles one out of seven containers shipped globally, said a cyber attack had caused outages at its computer systems across the world. Maersks port operator APM Terminals was also hit. Dutch broadcaster RTV Rijnmond reported that 17 shipping container terminals run by APM Terminals had been hacked, including two in Rotterdam and 15 in other parts of the world. WPP Britains WPP, the worlds biggest advertising company, said computer systems within several of its agencies had been hit by a suspected cyber attack. Merck & Co. Pharmaceutical company Merck & Co. said in a tweet its computer network was compromised as part of a global hack. Russian Banks Russias central bank said there had been computer attacks on Russian banks and that in isolated cases their IT systems had been infected. All Russian branches of Home Credit consumer lender are closed because of a cyber attack, an employee of a Home Credit call centre in Russia said. Ukrainian Banks, Power Grid A number of Ukrainian banks and companies, including the state power distributor, were hit by a cyber attack that disrupted some operations, the Ukrainian central bank said. Ukrainian International Airport Yevhen Dykhne, director of the capitals Boryspil Airport, said it had been hit. In connection with the irregular situation, some flight delays are possible, Dykhne said in a post on Facebook. Story continues Saint Gobain French construction materials company Saint Gobain said it had been a victim of a cyber attack, and it had isolated its computer systems to protect data. Deutsche Post German postal and logistics company Deutsche Post said systems of its Express division in the Ukraine have in part been affected by a cyber attack. Metro Germanys Metro said its wholesale stores in the Ukraine had been hit by a cyber attack and the retailer was assessing the impact. Mondelez International Food company Mondelez International said employees in different regions were experiencing technical problems but it was unclear whether this was due to a cyber attack. Evraz Russian steelmaker Evraz said its information systems had been hit by a cyber attack but its output was not affected. Norway A ransomware cyber attack is taking place in Norway and is affecting an unnamed international company, says the Nordic countrys national security authority. Additional reporting by Reuters || Pogue's Basics: The secret Start menu in Windows 10: Windows 10’s Start button harbors a secret: It can sprout a tiny utility menu.
To see it, right-click the Start button in the lower-left corner of the screen, or (on a touchscreen) hold your finger down on it. Or press Windows+X.
There, in all its majesty, is the Start menu’s secret utility menu. It’s bursting with shortcuts to important toys for the technically inclined.
Some are especially useful to have at your mousetip, likeSystem(opens a window that provides every possible detail about your machine) andTask Manager(lets you quit a frozen app and get on with your life).
This secret utility menu also offered a link to the Control Panel — at least until Microsoft, in its wisdom, removed that option in the Windows 10 Creators Update.
Adapted from “Pogue’s Basics: Tech” (Flatiron Press), byDavid Pogue.
More from David Pogue:
Is through-the-air charging a hoax?
Electrify your existing bike in 2 minutes with these ingenious wheels
Marty Cooper, inventor of the cellphone: The next step is implantables
The David Pogue Review: Windows 10 Creators Update
Now I get it: Bitcoin
David Pogue’s search for the world’s best air-travel app
The little-known iPhone feature that lets blind people see with their fingers
David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’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. || GUNDLACH: 'Markets have been coiling' and there's one big thing that could unleash volatility: (Jeffrey Gundlach of DoubleLine Capital thinks you should be keeping an eye on the 10-year Treasury as you await market volatility.REUTERS/Brendan McDermid)
To "bond king"Jeffrey Gundlach, the market hasn't simply been sitting still. It's been coiling.
In other words, under a seemingly placid surface, the co-founder and CEO of DoubleLine Capital sees conditions brewing that could eventually unleash price swings upon a market so starved for them.
As for apotential trigger, Gundlach has singled out the10-year Treasury note.
"One way or another, it’s going to have to break," Jeffrey Gundlach, co-founder and chief executive officer of DoubleLine Capital, said in an interview on CNBC. "I think it’ll break to the upside. If it happens, that will introduce volatility into the market."
He's specifically eyeing a threshold at 2.42%, a level that hasn't been breached since March. The 10-year sits at 2.27% as of 1:14 pm ET on Tuesday, and has tested but not exceeded 2.42% on two separate occasions in the past five months.
"It sounds like you're calling a bond yield-fueled stock market correction," replied interviewer Scott Wapner.
While Gundlach did not repeat the phrase back to Wapner, he simply replied "yes," before diving into his views on the stock market, as well as theCBOE Volatility Index— or VIX — which serves as a fear gauge for theS&P 500.
Gundlach made waves two weeks ago when hepurchased some five-month put optionson the S&P 500, calling it "free money."
He expanded upon the trade and those comments on CNBC, stressing that the investment was less of a bear call on the S&P 500, and more of a bull call on the VIX, which has sunk to record lows in recent weeks. It traded as low as 9.52 on Tuesday.
"With all of the shorting of the VIX that’s out there, I think you could have a big shock higher from offsides positioning," he told CNBC. "When we get whatever correction is coming, the VIX will easily go to 20."
The way he looks at it, stock market volatility is so low right now that the S&P 500 only has to drop 3% by the time the options expire for the trade to be profitable. He thinks that should be enough to spur an outsized VIX move.
"I’ll be surprised if we don’t make 400% on those puts," he said, before trotting out what's quickly becoming his new catch phrase. "Going long the VIX is free money."
NOW WATCH:Stocks have shrugged off Trump headlines to hit new highs this week
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• Bitcoin's meteoric rise is costing some investors billions
• These 4 companies look Amazon-proof
• GoPro surges after cost cuts lead to earnings beat || GUNDLACH: 'Markets have been coiling' and there's one big thing that could unleash volatility: jeff gundlach (Jeffrey Gundlach of DoubleLine Capital thinks you should be keeping an eye on the 10-year Treasury as you await market volatility.REUTERS/Brendan McDermid) To "bond king" Jeffrey Gundlach , the market hasn't simply been sitting still. It's been coiling. In other words, under a seemingly placid surface, the co-founder and CEO of DoubleLine Capital sees conditions brewing that could eventually unleash price swings upon a market so starved for them. As for a potential trigger , Gundlach has singled out the 10-year Treasury note . "One way or another, its going to have to break," Jeffrey Gundlach, co-founder and chief executive officer of DoubleLine Capital, said in an interview on CNBC. "I think itll break to the upside. If it happens, that will introduce volatility into the market." He's specifically eyeing a threshold at 2.42%, a level that hasn't been breached since March. The 10-year sits at 2.27% as of 1:14 pm ET on Tuesday, and has tested but not exceeded 2.42% on two separate occasions in the past five months. "It sounds like you're calling a bond yield-fueled stock market correction," replied interviewer Scott Wapner. While Gundlach did not repeat the phrase back to Wapner, he simply replied "yes," before diving into his views on the stock market, as well as the CBOE Volatility Index or VIX which serves as a fear gauge for the S&P 500 . Gundlach made waves two weeks ago when he purchased some five-month put options on the S&P 500, calling it "free money." He expanded upon the trade and those comments on CNBC, stressing that the investment was less of a bear call on the S&P 500, and more of a bull call on the VIX, which has sunk to record lows in recent weeks. It traded as low as 9.52 on Tuesday. "With all of the shorting of the VIX thats out there, I think you could have a big shock higher from offsides positioning," he told CNBC. "When we get whatever correction is coming, the VIX will easily go to 20." The way he looks at it, stock market volatility is so low right now that the S&P 500 only has to drop 3% by the time the options expire for the trade to be profitable. He thinks that should be enough to spur an outsized VIX move. Story continues "Ill be surprised if we dont make 400% on those puts," he said, before trotting out what's quickly becoming his new catch phrase. "Going long the VIX is free money." NOW WATCH: Stocks have shrugged off Trump headlines to hit new highs this week More From Business Insider Bitcoin's meteoric rise is costing some investors billions These 4 companies look Amazon-proof GoPro surges after cost cuts lead to earnings beat || Gold and Oil Moving Higher Steadily: Gold prices continued to move steadily higher, something which has been happening for the past 3 weeks and it is no longer a surprise. The prices have been moving slow and steady and that is one of the reasons why there has not been any shock and awe with regard to its movement. The euro has also been moving at almost the same speed higher but the euro seems to be getting all the attention as the volatility in the currency is much higher due to the pullbacks, corrections and then the bounces. On the other hand, the pullbacks and the corrections in the gold prices have been pretty much low and have been very shallow and that is the reason why the steady rise in the gold prices have escaped market attention so far.
Also, the gold prices have now crossed the important resistance region of 1262 and have continued to move higher which only points to further gains in the short term. Ideally, we should be looking at 1280 and then 1300 as the targets for the short term but with a large amount of news slated to be released towards the end of the week, it is better for the traders to be on their toes. It is likely that the investors may bail out on first hints of trouble in the bullish trend as they are likely to be sitting on a lot of profit. So, if there are any signs of reversal, it is likely to be a quick and large one and that is why it is important to be on the trigger when the news events roll in towards the end of the week.
Oil prices have also basically followed the gold prices but for entirely different reasons. The oil prices continue to be strong and have finally broke through the $50 region over the last 24 hours. The oil producing countries have made it clear, in no uncertain terms, that they would like to see the prices higher and they have also shown that they would do anything in their powers to get the prices higher. This was enough signal for the markets to push the prices higher and thats what they have been doing. Like the gold prices, the correction in the oil prices have also been few and far between and we believe that the prices would continue to move higher though there is likely to be some resistance between now and the time the prices crosses $53.
Silver prices have been lagging behind the gold prices as far as this upmove is concerned. Though the corrections in silver have also been few and far between, the upmove has been quite slow and does not have the momentum that the uptrend in gold is having. The silver prices are expected to face some stiff resistance in the $17 region which could lead to a correction.
Thisarticlewas originally posted on FX Empire
• Will Bitcoin Network Split to Two on August 1st? All the Things You Need to Know About it
• How Far Can the Dollar Fall – It May Not Just be Data Dependent
• Gold and Oil Moving Higher Steadily
• Dow Closes at Record on the Back of Solid Quarterly Earnings
• Market Snapshot – Stock Markets Slow and Steady
• European Shares Edge Higher as Economic Data Buoys Stocks || Dance The Roomba: iRobot's Sterling Second Quarter Has Pro Bullish On Domestic Robot Space: iRobot Corporation(NASDAQ:IRBT)'s stellar second quarter makes Loup Ventures' Andrew Murphy more bullish on a market that includes robots that clean your floors and cut your lawn.
Revenue for the second quarter of 2017 was $183.1 million, compared with $148.7 million for the second quarter of 2016. Revenue for the first half of 2017 was $351.6 million, compared with $279.5 million last year.
“We believe the domestic robot market, which includes robotic vacuums, mops, and lawnmowers, is one of the most promising sub-categories within the robotics space.” Murphy wrote in a note.
View more earnings on IRBT
He said iRobot’s results leads to these takeaways:
Legacy Vacuum Companies Not A Big Threat
“It’s easier for a robotics company to build a vacuum than it is for a vacuum company to build a robot,” he wrote. “Although a Roomba vacuum cleaner may look simplistic on the outside, the advanced software programming, computer vision systems and engineering acumen that goes into developing a high-performing robot is difficult to replicate.”
Related Link:Cornell’s Eccentric Robot Genius Gets Ideas From Infant Daughter
The Market Is Bigger Than Anybody Thought
“iRobot’s total robot revenues increased 24.2% y/y and the company raised full year 2017 guidance, which now implies 25.0% y/y growth in their robot business.”
It’s Not Just Vacuums
IRobots wet floor mops were up 80 percent. “And domestic robots is just the beginning of the much larger connected home theme.”
Domestic Robots Are A Global Trend
“While iRobot saw the strongest growth for robots domestically, the company is also upbeat about the growth they are seeing internationally.”
________
Image Credit: By Nohau - Own work, CC BY-SA 3.0,via Wikimedia Commons
Latest Ratings for IRBT
[{"Jul 2017": "May 2017", "": "Canaccord Genuity", "Downgrades": "Downgrades", "Buy": "Buy", "Neutral": "Hold"}, {"Jul 2017": "Nov 2016", "": "Dougherty", "Downgrades": "Initiates Coverage On", "Buy": "", "Neutral": "Buy"}]
View More Analyst Ratings for IRBTView the Latest Analyst Ratings
See more from Benzinga
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• The Athletic's New Model For Local Sports Writing: If You Build It, Will They Buy It?
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin is giving gold a run for its money: trader: ByDavid 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).
German 10-year yields also rose, holding onto their post-election breakout last November.
Even Japanese 10-year yields—in a nearly two-decade slump—are threatening to break the downtrend line.
However, of more concern for asset allocators, is gold (GLD,GC=F)—the ultimate safe haven trade. This is the asset that’s 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.
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. Gold’s 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 hasn’t 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 secular—not cyclical—dynamic.
Geopolitical instability or military action often provides a lift in gold. However, following North Korea’s test launch of an ICBM near the Fourth of July break, gold barely budged, dashing hopes of a breakout.
Cryptocurrencies and, of course Bitcoin, have captured the attention of nearly every speculator on the planet. There’s 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.
It wasn’t 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 currencies—giving 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 Christ—so there’s some 5,000 years of history. It’s way too soon to write off gold as the alternative currency of choice, but competition usually means lower prices.
Bitcoin’s success will likely come at the expense of gold and provide another example of thezero-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. || Dance The Roomba: iRobot's Sterling Second Quarter Has Pro Bullish On Domestic Robot Space: iRobot Corporation (NASDAQ: IRBT )'s stellar second quarter makes Loup Ventures' Andrew Murphy more bullish on a market that includes robots that clean your floors and cut your lawn. Revenue for the second quarter of 2017 was $183.1 million, compared with $148.7 million for the second quarter of 2016. Revenue for the first half of 2017 was $351.6 million, compared with $279.5 million last year. “We believe the domestic robot market, which includes robotic vacuums, mops, and lawnmowers, is one of the most promising sub-categories within the robotics space.” Murphy wrote in a note. View more earnings on IRBT He said iRobot’s results leads to these takeaways: Legacy Vacuum Companies Not A Big Threat “It’s easier for a robotics company to build a vacuum than it is for a vacuum company to build a robot,” he wrote. “Although a Roomba vacuum cleaner may look simplistic on the outside, the advanced software programming, computer vision systems and engineering acumen that goes into developing a high-performing robot is difficult to replicate.” Related Link: Cornell’s Eccentric Robot Genius Gets Ideas From Infant Daughter The Market Is Bigger Than Anybody Thought “iRobot’s total robot revenues increased 24.2% y/y and the company raised full year 2017 guidance, which now implies 25.0% y/y growth in their robot business.” It’s Not Just Vacuums IRobots wet floor mops were up 80 percent. “And domestic robots is just the beginning of the much larger connected home theme.” Domestic Robots Are A Global Trend “While iRobot saw the strongest growth for robots domestically, the company is also upbeat about the growth they are seeing internationally.” ________ Image Credit: By Nohau - Own work, CC BY-SA 3.0, via Wikimedia Commons Latest Ratings for IRBT Jul 2017 Downgrades Buy Neutral May 2017 Canaccord Genuity Downgrades Buy Hold Nov 2016 Dougherty Initiates Coverage On Buy View More Analyst Ratings for IRBT View the Latest Analyst Ratings Story continues See more from Benzinga Stay Tuned For Facebook TV: Ad Sales Will Fund Big Bet On Video Feds Bust Reputed Bitcoin Baron In Billion Scheme To Launder Drug Money, Ransomware, Bribes And Identity Theft Scams The Athletic's New Model For Local Sports Writing: If You Build It, Will They Buy It? © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin tumbles below $4,000: (Bitcoin is down about 7% Tuesday afternoon.Phil Walter/Getty Images)
Bitcoinhas tumbled below $4,000, down 7%, at 3,996 a coin.
The drop follows a strong surge that pushed the cryptocurrency's price to almost $4,500 on Monday.
Bitcoinwas on a tear following theAugust 1 forkthat split the cryptocurrency in two. The price of the cryptocurrency is up 323% year-to-date.
Bitcoin's recent meteoric rise grabbed the attention of Wall Street. Goldman Sachs, for instance, told clients in an August 10 note that thecryptocurrency space is worth paying attention to.
And VanEck, the $25 billion money manager,filed with the SEC on August 11 to launch a Bitcoin ETF.
But folks in the cryptocurrency space aren't looking at today's losses as a sign that the good times are coming to an end. Greg Dwyer, head of business development atBitMEX, a Bitcoin mercantile exchange, told Business Insider this is a normal and expected market correction.
"At $4,400, the market was looking extremely toppish - I believe this move is a result of traders deciding to take some profits off the table after this enormous rally," Dwyer said in an email.
These kind of drops are part and parcel with Bitcoin, according to Dwyer.
"For everyone who is new to Bitcoin, this is where we say 'welcome to crypto-trading,'" he added.
Aaron Lasher, the chief marketing officer atBreadwallet, a Bitcoin technology company, referred to the 7% drop as a "healthy correction."
"Keep in mind that when this bubble finally pops the price will probably bottom out with a 60-80% correction," he said.
So, keep some popcorn on hand folks.
(MI)
NOW WATCH:Stocks have shrugged off Trump headlines to hit new highs this week
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• Bitcoin flies past $3,500 for the first time
• Bitcoin cash plunges as investors look to dump their coins
• Bitcoin is sliding a day after a big change was made in its software || Tons of Coinbase users fled the platform after it rejected bitcoin cash — now the $1 billion startup is in the center of a raging storm: Brian Armstrong Coinbase (Coinbase cofounder Brian Armstrong.Anthony Harvey/Getty Images for TechCrunch) The digital currency startup Coinbase saw an exodus of users this week after announcing that it wouldn't support bitcoin cash, the new digital currency established Tuesday. Bitcoin cash is a bitcoin offshoot created as a means of dealing with disagreements in the community over how the technology behind the currency should run. But investors don't seem worried about this exodus harming Coinbase's potential unicorn status. The world of cryptocurrency is not exactly a calm place. And for Coinbase, one of the hottest and most valuable startups in the sector, this week's remarkable news around bitcoin put the company in the center of a raging storm. The big offense for Coinbase, which operates a platform for buying and selling cryptocurrencies like bitcoin, was its decision not to support bitcoin cash — the new cryptocurrency that was spun out of bitcoin this week. Many Coinbase users unleashed their wrath, accusing the company of being everything from a scam to a tool for the National Security Agency. Some threatened to sue. The $1 billion startup also lost users in droves, with 12-hour wait times over the weekend as users scrambled to transfer their bitcoins to competitors that would support bitcoin cash. The angry reaction, and the risk of a big loss of customers, raised questions about the future of what has been one of the crypto world's biggest success stories. For now, though, Coinbase's backers aren't sweating it. And they say they don't anticipate the drama having much of an effect on the startup, which has been raising money on terms that would value it at roughly $1 billion . Barry Schuler (Coinbase investor Barry Schuler.Manny Ceneta/Getty Images) "There's no one on the board or any investor who doesn't completely back the point of view that we should err on the side of safety and trust," said Barry Schuler, a partner with DFJ, an investor in Coinbase. "From an investor's point of view, we invested in Coinbase because they have made a voluntary commitment to be regulated," Schuler said, "and to focus on being trusted and safe — as safe as you can be in an experimental environment like this." Story continues Though Coinbase didn't participate in Tuesday's currency launch, Schuler said Coinbase could change its policy as early as next week, depending on how bitcoin cash matures. Another Coinbase investor, Fueled founder Rameet Chawla, even suggested that Coinbase may increase the strength of the original bitcoin down the line by establishing faith in the legacy currency. That's because Coinbase's conservative approach may make cryptocurrency more accessible to potential users who are afraid to dabble in technologically complex digital currencies. "They're a huge net positive on bitcoin, making it really easy on people who are not early adopters," Chawla said. Mass exodus of coinbase users With 9 million users and $20 billion exchanged, Coinbase has its hands on a lot of the digital currency floating around. And while investors support Coinbase's decision to sit out the initial bitcoin split, many customers felt betrayed by the company. A scan of the Coinbase community forums shows a host of angry topics such as "What if Coinbase is NSA tool to destroy BTC (bitcoin cash)?" and "Dear Coinbase, if you not release my funds in 1h I am going to sue you." Coinbase wouldn't disclose how many users withdrew bitcoins in anticipation of bitcoin cash's arrival. But things looked rough. Coinbase users experienced delays of about 12 hours on withdrawals over the weekend because of the number of people moving bitcoins. Rameet Chawla Fueled (Fueled founder Rameet Chawla doesn't seem worried about long-term harm to Coinbase.Rameet Chawla) Despite this, sources close to the situation said the company expected to see many people return to Coinbase while simultaneously storing newly acquired bitcoin cash in a different digital wallet. "Ultimately, Coinbase is an exchange for buying bitcoin, but people are free to use their own wallets and take control of their wallets anyway they want," Chawla said. The 'hard fork' The introduction Tuesday of bitcoin cash was known as the "hard fork." It resulted in a cloned currency with different technological protocols from those of the original bitcoin. The fork was a means of dealing with disagreements in the bitcoin community over how to evolve the technology to handle increased demand. The hard fork followed a process similar to cell division in biology, in that the two currencies were the same at the point of division but will pursue different paths moving forward. Users storing their bitcoin in a digital wallet that accepts bitcoin cash on Tuesday found themselves with a bitcoin cash coin for every bitcoin they had at the time of duplication. Bitcoin and bitcoin cash do not have the same value, however, so duplication is not the same as a doubling in worth. Why Coinbase sat out on bitcoin cash In a statement on Twitter on Tuesday, Coinbase CEO Brian Armstrong wrote that the company was agnostic to which currencies its users trade and that it was not opposed to adding new assets in the future. "Our goal is to be the safest, most trusted and compliant, and easiest to use," Armstrong wrote. "Not the first to market with new assets. Especially at scale, it takes time to ensure any new asset we add is well tested and secure." Generally speaking, Coinbase isn't quick to take on new currencies. Founded in 2012, the exchange still trades only bitcoin, ether , and litcoin — all digital currencies the team has deemed stable and technically secure enough for an amateur investor to put money into. We have made this decision because it is hard to predict how long the alternative version of bitcoin will survive and if Bitcoin Cash will have future market value. So it was of little surprise to those close to the company when it issued a statement last week advising that customers who want to access both bitcoin and bitcoin cash would need to withdrawal from Coinbase by this past Monday. "We have no plans to support the Bitcoin Cash fork." David Farmer, the director of business development at Coinbase, wrote. "We have made this decision because it is hard to predict how long the alternative version of bitcoin will survive and if Bitcoin Cash will have future market value." Users were irked because Coinbase's decision not to accept bitcoin cash meant that anyone with bitcoin stored in Coinbase's digital wallet would not receive what many saw as free bitcoin cash. Others were concerned that Coinbase would secretly keep the bitcoin cash that was generated Tuesday. In a statement last Friday, however, the company denied that this would happen. "Coinbase would not keep the bitcoin cash associated with customer bitcoin balances for ourselves," the company posted on Twitter. Investors like Schuler, however, saw the Coinbase's trepidation as part of its core business strategy. "The whole cryptocurrency-blockchain space is a bit like the Wild West right now — just like the beginning of the internet," Schuler said. "But slowly and surely, it's becoming institutionalized. Coinbase represents that — being legitimate and offering as much trust and safety as possible." NOW WATCH: This cell phone doesn't have a battery and never needs to be charged More From Business Insider Voice activated speakers, like Amazon Echo and Google Home, are pumping new life into Pandora's business Pandora topped Q2 revenue targets and its stock just had a wild rebound Amazon wants to continue testing grocery stores without human cashiers when it owns Whole Foods
[Random Sample of Social Media Buzz (last 60 days)]
Bitcoin just passed $4000 https://techcrunch.com/2017/08/12/bitcoin-just-passed-4000/?ncid=mobilenavtrend … || Gana $45,00 Usd Por Afiliar, Quieres ganarte dólares con Bitcoin sin tanto esfuerzo? Es solo de ···- https://goo.gl/Cdo6SQ .. #España || Bitcoin Market Overview http://www.tradingview.com/v/blo7ZCEF/ #markets #trading #technicals (trending on TradingView) || Bitcoin - BTC
Price: $3,896.80
Change in 1h: +0.37%
Market cap: $64,308,792,980.00
Ranking: 1
#Bitcoin #BTC || BTC Real Time Price: ThePriceOfBTC: $3219.11 #GDAX;
$3263.99 #bitstamp;
$3242.74 #gemini;
$3273.00 #kraken;
$3275.05 #cex;
$3255.00 #hitbtc; || This site is legit and they pay your profit everyday without any problem
https://control-finance.com/?ref=cointrader0603 …
$ANS $BTC || #AudioCoin #ADC $0.001822 (-8.22%) 0.00000045 BTC (-18.00%) || #Bitcoin Maintains $4,000 Value as 24-Hour Volume Surpasses $3.1B https://buff.ly/2w3R7NK #cryptocurrency || Gana $45,00 Usd Por Afiliar, Quieres ganarte dólares con Bitcoin sin tanto esfue ·-·> https://goo.gl/Cdo6SQ * pic.twitter.com/qiGn8UY8k2 # || One Bitcoin now worth $2780.22@bitstamp. High $2882.00. Low $2700.02. Market Cap $45.772 Billion #bitcoin
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Trend: down || Prices: 4352.40, 4382.88, 4382.66, 4579.02, 4565.30, 4703.39, 4892.01, 4578.77, 4582.96, 4236.31
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-10-23]
BTC Price: 7514.67, BTC RSI: 29.11
Gold Price: 1489.90, Gold RSI: 48.43
Oil Price: 55.97, Oil RSI: 56.74
[Random Sample of News (last 60 days)]
Report: Bitcoin searches on Google mirror how much the currency is worth: Bitcoin's price is more heavily correlated with Google searches than you might think. According to data providerSEMrush, there's an 80% correlation between the two. That means four out of five times, whenever Bitcoin's price rises, so does search volume.
The correlation compared the average monthly Google search volume for Bitcoin (that peaked at 45.5 million in December 2017) with the average monthly traded price for bitcoin in dollars.
The dataset goes all the way back to Sept 2015, when Bitcoin was trading at just $225, and Google search interest was only 1 million a month.
It's hard to pin down exactly where the causation lies but we can take a stab.
It's fairly clear that a rising Bitcoin price leads to more news articles and general awareness, causing an increase in search volumes. And it's possible this creates a virtuous circle, where more people searching for Bitcoin end up buying some—raising the price even more. But on the other hand, it's possible people are finding out about Bitcoin by other means and then searching for ways to buy it.
The firm found that there was an even higher correlation for XRP, at 86%, with other altcoins seeing similarly positive correlations, such as Ethereum (74%) and Litecoin (71%).
And like most things in crypto, someone's already tried to manipulate the system. In September searches for BTC–Bitcoin's price tickersurgedin the first week of September. Some commentators havesuggestedbots were being used to inflate searches in order to manipulate other bots that use search volume as an indication of how they should trade.
But for now, it remains a mystery. || Black-market weed vape company linked to lung crisis is verified on Instagram: Dank Vapes, a brand of black-market THC vaporizer cartridges whose products have been linked to the outbreak of vaping-related lung diseases, has an official verified account on Instagram — despite the fact that it may not even be a real company. The brand claims "nothing is for sale" in its Instagram bio. However, users can buy products with flavor names like "cotton candy" and "banana split" through third-party distributors advertising their services in the comments of Dank Vape's verified Instagram posts. Black-market weed vape company linked to lung crisis is verified on Instagram Image: screenshot via instagram According to a report the U.S. Centers for Disease Control and Prevention released Friday, a number of patients affected by the vape-related lung diseases reported they used cartridges from Dank Vapes. "Dank Vapes appears to be the most prominent in a class of largely counterfeit brands," the CDC says, "with common packaging that is easily available online and that is used by distributors to market THC-containing cartridges with no obvious centralized production or distribution. The report comes from health officials in Illinois and Wisconsin. SEE ALSO: Vape lung crisis is a wake-up call for the weed industry Dank Vapes may not even be a real company at all. An Inverse report in August concluded that the brand is "one of the biggest conspiracies in all of marijuana" — a packaging company "with no quality control or oversight." The Instagram account appears to be registered in Los Angeles. But there are no California state marijuana licenses in its name. The California Cannabis Industry Association does not recognize Dank Vapes as a registered brand. View this post on Instagram Cotton candy 🍭 #dankvapes A post shared by Official Dank Vapes (@dankvapes) on Sep 20, 2019 at 2:39pm PDT And that means Dank Vapes is slipping through the cracks of regulation. The state of California mandates rigorous testing from cannabis labs to legally sell products. But as Vox found when it looked into online vaping communities, just about anyone can make and distribute their own vape juice. Story continues The Dank Vapes account, which first posted in September, advertises various flavors and doesn't directly link to distributors. The account's comments are filled by people trying to buy flavored cartridges — and by Instagram users warning others. Black-market weed vape company linked to lung crisis is verified on Instagram Image: screenshot via instagram Black-market weed vape company linked to lung crisis is verified on Instagram Image: screenshot via instagram Black-market weed vape company linked to lung crisis is verified on Instagram Image: Screenshot via instagram Instagram did not immediately respond to a request for comment. But to obtain verification an account has to be "in the public interest," according to Instagram's verification page . The account must "represent a real person, registered business, or entity." The company also says that to qualify for verification, the account in question has to represent a "well-known, highly searched for person, brand, or entity." The verification process requires some form of identification, like a government-issued ID, which means Instagram may have the identify of an individual who claimed the Dank Vapes brand. Inverse points to one Jake Lindsey as the individual who filed trademarks for Dank Vapes with the U.S. Patent and Trademark Office. The only account that Dank Vapes follows on Instagram is Dankwoods, another trademark belonging to Lindsey. It's a blunt pre-roll distributor that, contrary to its Instagram bio , does appear to sell and ship products online. The Dankwoods store accepts payments through Western Union, Moneygram, Zelle, Bitcoin, Amazon gift cards, and CashApp. Dankwoods' site also sells Dank Vapes' cartridges. The domain name Dankwoods.org is registered to an office and retail building in San Francisco's SOMA district, a block from the Giants' ballpark. In a section titled "Is Dank Vapes Safest for Health?" the Dankwoods site says "We are professionals: we have no mind to spoil your life." Here's its bizarre, barely-English disclaimer in full: The site does not make any mention of the ongoing vape-related lung disease crisis, which claimed seven lives. The Centers for Disease Control, Federal Drug Administration, and Health and Human Services recommend immediately throwing away black market vapes bought on the street, instead of in a regulated store, regardless of whether it contains CBD, THC, or nicotine. Leafly reported that a diluent referred to as Honey Cut, which dilutes THC oil without affecting the viscosity, contains Vitamin E oil. The cutting agent makes vape juice production cheaper, but also comes with a slew of unknown side effects. Health officials in New York suspect Vitamin E oil may cause severe lung damage seen in patients hospitalized for vape-related disease symptoms. The Dank Vapes Instagram account has not responded to request for comment, and calls to numbers listed on Dankwoods.org went unanswered. || Traders Doubling Down on Trump Tweets to Move Interest Rates: This article was originally published on ETFTrends.com. Based on a paper from the National Bureau of Economic Research, President Donald Trumps tweets could be causing traders to double down on the movement of interest rates. Per a CNBC report , the assumption came from looking at the shift in fed funds futures contracts over short and longer terms and their reaction to Trump tweets criticizing the Fed. The funds market is where traders bet on where the Feds benchmark overnight lending rate will land. Policymakers watch for changes in how markets view where interest rates are heading. Trumps tweets aimed at the Federal Reserve have been a constant, particularly with regard to interest rate policy. In return, the central bank has been saying that global market weakness could be stemming from the U.S.-China trade warnot a pointed attack at Trump but indirectly referencing his willingness to engage in a tariff-for-tariff battle. We are winning, big time, against China. Companies & jobs are fleeing. Prices to us have not gone up, and in some cases, have come down. China is not our problem, though Hong Kong is not helping. Our problem is with the Fed. Raised too much & too fast. Now too slow to cut.... Donald J. Trump (@realDonaldTrump) August 14, 2019 ..Spread is way too much as other countries say THANK YOU to clueless Jay Powell and the Federal Reserve. Germany, and many others, are playing the game! CRAZY INVERTED YIELD CURVE! We should easily be reaping big Rewards & Gains, but the Fed is holding us back. We will Win! Donald J. Trump (@realDonaldTrump) August 14, 2019 Overall, we find strong evidence that the consistent pressure applied by President Trump to pursue more expansionary monetary policy is manifested in the market expectations of a lower target rate, forecasting a steady erosion in central bank independence over the course of his presidency, said the paper, authored by economists Francesco Bianchi of Duke University and Howard Kung and Thilo Kind at the London Business School. Our findings that market participants do not perceive the Federal Reserve as independent from the executive branch has indirect, but important, consequences for the actual autonomy of the central bank, they added. A Value-Added Option One ETF thats worth a look under the hood is the iShares MSCI EAFE Value ETF ( EFV ) . While the extended bull run has given investors a wave of gains, the focus has returned to value and as such, the risk-off strategies are back in vogue. While this typically involves a move back to bonds, more defensive maneuvers into ETFs like EFV are also an option. Story continues EFV seeks to track the investment results of the MSCI EAFE Value Index composed of developed market equities, excluding the U.S. and Canada, that exhibit value characteristics. As far as strategy goes, the fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. 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 Health Concerns Over Vaping Escalate As Walmart Pulls E-Cigarettes From Shelves Total Return Alternatives: Balancing Portfolio Risks When Even Junk Yields Less than 5% Bitwise Bitcoin ETF Ruling Expected Before Mid-October In the Know: Where Markets Stand in the Late-Cycle U.S.-China Trade War Intensifies, But It May All Work Out in the End READ MORE AT ETFTRENDS.COM > View comments || What Google’s ‘Quantum Supremacy’ Means for the Future of Cryptocurrency: Just like that, the promise of quantum computers overtaking traditional computers is one step closer to reality.
According to a recent report by theFinancial Times, tech giant Google claims to have achieved “quantum supremacy,” meaning it has built a quantum computer able to solve formerly impossible mathematical calculations.
If proven true, this marks a major milestone in the development of quantum computers and possibly, the demise of blockchain technology as we know it today.
Related:Crypto Finance Firm Circle Puts Research Offering on Hold
Since the advent of bitcoin,the threat of quantum computinghas motivated researchers, technologists and, now, governments, to build software able to resist attack by even the most powerful quantum computers.
Quantum computers, while still largely theoretical, are thought to vastly speed up the process of solving complex computations. So much so that current calculations impossible for a current computer to solve in one human lifespan would take mere seconds for a quantum computer to crack.
As explained by data research firm CB Insights, quantum computers rely on “naturally occurring quantum-mechanical phenomena” known as superposition and entanglement.
“These states of matter, when harnessed for computing purposes, can speed up our ability to perform immense computations,” said thereport.
Related:Square Crypto Hires Lightning, Libra Developers for ‘Bitcoin Dream Team’
And this summer, the National Research Council (NRC) of Canada partnered with the University of Waterloo to launch a two-year research initiative for quantum-safe blockchain technology.
The research, led by University of Waterloo professors Srinivasan Keshav and Michele Mosca, is receiving a total of $180,000 over this two-year period to expand the team with other “highly qualified personnel,” said Nic Defalco, communications advisor to the NRC.
Among state governments, Canada is the leader in quantum computing research, according to Andersen Cheng, CEO of quantum R&D firm Post-Quantum.
“Other governments are trying to play catch-up,” said Cheng. “The U.S. is lagging behind quite a bit. The UK is putting a lot of money into quantum computing hardware and now, they’re just about to start thinking about post-quantum software and cryptography.”
U.S. President Donald Trump signed the National Quantum Initiative Act into law last December, allocating$1.2 billionover a five-year period to activities promoting quantum information science. In June, the UK’s National Quantum Technologies Programme received an additional$193 millionof funding from the UK government, placing total investments in the program since 2014 at $1.2 billion.
Efforts in the private sphere are similarly increasing, according to CB Insights, which found the number of investments in private quantum computing startups has increased over 200 percent in the past six years.
All this, in the mind of Adam Koltun of theQuantum Resistant Ledger (QRL) Foundation, speaks to a growing problem.
“A decade ago people said it would take 50 years to get where we are now with quantum computing. Five years ago, they said it would take 25 years to get where we are now. So quantum computing has this nasty habit of exceeding people’s expectations,” said Koltun, adding:
“The blockchain industry does need to grapple with this and be wary.”
Koltun’s group claims to have built the first blockchain that is secure against attacks from quantum computers.
Without proactive behavior to safeguard existing technologies from possible attacks, Koltun fears the future blockchain and cryptocurrencies – and also the internet at large – will be at risk.
There are actuallya few different waysa quantum computer can snap a blockchain.
For one, blockchain transactions are secured with digital signatures based on elliptic curve cryptography (ECC). ECC coincidently is also used on the internet to encrypt user data and website traffic.
However, ECC is not “quantum-safe,” according to Post-Quantum’s Cheng, meaning that a powerful quantum computer could theoretically decrypt user private keys and forge transaction signatures on their behalf.
“Once that trust is broken, that will be the end of cryptocurrencies,” said Cheng, adding:
“If you can no longer tell whether [the right] people are signing transactions to you or not, then you have destroyed trust. This cryptocurrency world is based on a distributed, trustless environment.”
This is by far the most pertinent security issue for blockchains when it comes to co-existing in a world with quantum computers – especially given that researchers and mathematicians are already aware of a possible algorithm, calledShor’s algorithm, that could be used by a sufficiently powerful quantum computer to break elliptic curve digital signatures.
“We’ve had the math available for us for decades in terms of what the first and second generation of quantum computers are going to look like,” said the QRL Foundation’s Koltun.
At the same time, Koltun did contend that quantum computers may vastly exceed scientist’s expectations and prove to make blockchain technology obsolete in ways not yet imagined.
Said Koltun:
“You should be wary of anyone who claims to sell you a waterproof watch or quantum-proof blockchain because we are not yet fully aware of the potential of quantum computers. … For someone to proclaim any technological product, blockchains or otherwise, as impervious to quantum computers would require them to know what these computers are entirely capable of, which we don’t.”
Precisely because the full capabilities of quantum computers are not yet known, combatting their impact to existing blockchain platforms may sound like a doltish task.
As frequently explained by prominent bitcoin evangelist and author Andreas M. Antonopoulos, the threat of quantum computing in his mind is often overplayed.
“We can migrate quite easily to another algorithm,” he said last year during one of his monthlyQ&As. “It’s not really as big a threat as people think it is.”
What’s more, while the capabilities of quantum computers might be vastly more extensive than currently imagined, they may also be vastly overstated.
“Google’s quantum breakthrough is for a primitive type of quantum computing that is nowhere near breaking cryptography,” said bitcoin core developerPeter Todd. “We still don’t even know if it’s possible to scale quantum computers.”
Still, if there’s a general understanding that quantum computing will be a problem for blockchain networks moving forward, Keshav, the professor at the University of Waterloo, asks:
“Shouldn’t we be doing something about it today?”
Keshav said his newly commissioned research team would be looking into a handful of the most promising “quantum-safe cryptography” tools, includinglattice-based cryptographyandmultivariate public-key cryptography. His researchers will initially begin testing on the enterprise-focusedHyperledger Fabricblockchain.
There are scores of others that the wider crypto space should be looking into, according to Keshav. Pointing to an ongoing competition hosted by the U.S. National Institute of Standards and Technology (NIST), Keshav said there have been over80 different proposalssubmitted from researchers and academics for “quantum-resistant, public-key cryptographic algorithms.”
Having put forth his own proposal in NIST’s ongoing cryptography competition, Post-Quantum’s CEO Andersen Cheng said:
“You don’t need a quantum computer to come into existence to work out what is required to counter the threat from it. This isn’t trial and error because you can work out mathematically what is good enough or not.”
Model quantum computerimage via Shutterstock
• BIS Paper Makes Case for ‘Embedded’ Regulation in Blockchain Markets
• Crypto Code Commits Remain Near All-Time Highs, Despite Price Declines || The bugs that almost killed Bitcoin: Bitcoin was the first cryptocurrency, being introduced to the world by the anonymous developer or group of developers that go by the name Satoshi Nakamoto. BTC has had a long history of ups and downs, some of which were quite good for the community as it allowed folk to further accumulate additional Bitcoin. Others, however, almost destroyed the original crypto. Today I aim at looking at some of the toughest bugs Bitcoin developers had to deal with, why did they happen, what went wrong and how they were mitigated. I will do my best to keep things simple and not technical. Ready to hear some of the most disturbing stories surrounding Bitcoin? Emperor evil laugh How bugs happen Software is created through scripts. In Bitcoin, the original version was programmed in a low-assembly language called ‘c++’. Even though developers, especially in the open-source world, make tons of runs at the code, some bugs tend to happen. This may be due to changes that make some functions incompatible with the new code, due to errors in the new code or even due to functions that do stuff they shouldn’t. Whatever the reason may be, you must realise that Bitcoin, being open-source software, is also prone to some bugs and errors. Even though most issues are easily fixed (BTC is lucky enough to have top-notch devs looking at it), sometimes bugs that arise may cause unforeseeable problems. Below I will look into the top three bugs and errors that almost led to Bitcoin’s demise. Bug 1: OP_LSHIFT crash One of the original instructions that you could run in the scripting language was OP_LSHIFT which would shift a number a certain set of places to the left. It was discovered that when using OP_LSHIFT on some machines, processing the transaction would cause the machine to crash. The way that this bug works is that you would simply make an evil transaction and send it to a bitcoin node, effectively causing the node to crash. The way developers fixed the bug was to invalidate certain functions, making the script return ‘false’ – essentially not running the program (the transaction). Story continues Bug 2: Inflation error Inflation bugs allow you to print more money. It’s almost like you are able to become a central bank within the Bitcoin protocol. The code that originated the problem was about adding up all the outputs and all the inputs in the transaction. You subtract all the inputs from the outputs, and if you got a negative number then that meant your outputs were greater than your inputs. Basically an inflation bug is caused by an overflow, as in when the absolute value of the number is too high for the computer to represent it. So this allowed the user to print money, and this bug was exploited on main net. Billions of BTC were produced. To solve the issue the code was patched and every miner switched to a new fork, using the last block before the exploit. In essence, there was a hard-fork of the Bitcoin code. Bug 3: Netsplit The netsplit bug exploits the fact that you can have two alternative blocks with different transactions in it, that hash to the same value. This doesn’t mean the hash value is broken. It means that there are two blocks, with different transactions that collide, which have the same hash. This bug has an easy fix. Miners simply need to eventually reject one of the blocks, making those transactions invalid. Collisions may happen, and are known to happen, to a certain extent. One of the worst times there were two valid blockchains for around eight blocks. Meaning some miners were mining one chain, while others were mining a different chain. These splits may happen but eventually get resolved, as one of the chains will get more work done and replace the other. The post The bugs that almost killed Bitcoin appeared first on Coin Rivet . || With 18 Million Bitcoins Mined, How Hard Is That 21 Million Limit?: In a matter of hours, the 18 millionth bitcoin will have been mined and the world’s first cryptocurrency will draw one step closer to its hard-coded cap of 21 million coins.
“The pie is shrinking. This [milestone] gives people some simple math to raise awareness about where we’re at in the [bitcoin mining] process,” said Alex Adelman, CEO of bitcoin rewards platform Lolli, adding:
“It’s good for people to see the progress of bitcoin, to look back on everything that has been done and will be done for the next 3 million. … You should pay attention to the next 3 million.”
Related:Peter Thiel Backs $200 Million Valuation for Renewable Bitcoin Mining in the US
But don’t worry, you’ll have 120 years to do so.
The next 3 million bitcoins will be progressively slower to mine as a result of block reward halvings which occur every 210,000 blocks (or roughly four years) and reduce new bitcoin supply by 50 percent. The final bitcoin is expected to be mined in 2140.
Or is it?
It seems blasphemous even to go there, given bitcoin’s value proposition as digital gold. But outsiders foresee a day when the 21 million cap might, gasp, come up for debate.
Related:Next Bitcoin Halving Could Squeeze out Retail Miners, But Jury’s Split on Price
Eventually, once there are no more bitcoins left to mint, miners will rely solely on transaction fees, which are paid by users to transfer coins through the blockchain. This change gives cause for concern to some who view bitcoin’s block subsidies as integral to bitcoin’s incentive system.
To skeptics, this could undermine the structure that motivates miners to record validated transactions in the ledger.
“All of your assumptions about incentives, risk and value go out the window,” said Angela Walch, a research fellow at the University College London Centre for Blockchain Technologies. “Please take the blinders off and stop assuming that everything will still work well once everything goes to a pure transaction-fees system as opposed to block [subsidy].”
Currently, with each block, miners get a subsidy of 12.5 newly created BTC, worth roughly $99,370, plus any additional transaction fees, which normally don’t totalmore than 1 BTC.
Along the same lines, Paul Brody, global innovation leader for audit firm Ernst & Young (EY), said bitcoin’s limited supply could limit the cryptocurrency’s utility as a global reserve currency.
Pointing to situations such as the Great Recession where monetary policy interventions were needed to lift the U.S. out of economic turmoil, Brody said:
“If bitcoin were to become a substantial part of the global monetary system, we would need to address [the hard supply cap] because a lot of economists agree deflationary systems are not necessarily the best thing.”
Both Walch and Brody suggested that bitcoin’s 21 million supply cap might one day be subject to change. What if?
“We need to acknowledge that the 21 million cap is aspirational,” said Walch. “If people decide to change that [supply] cap for certain reasons and enough people make that decision, the system will move to it. It’s aspiration, not reality.”
While technically feasible, a change to the supply cap would almost certainly be a non-starter for bitcoin users who cherish its gold-like properties. Indeed, bitcoin’s code has long been governed by a community with a bias toward retaining the coin’s original features as created by its pseudonymous founder, Satoshi Nakamoto.
Unlike ethereum, the world’s second-largest cryptocurrency, the bitcoin blockchain has rarely seen backward-incompatible, system-wide upgrades changing core code features.
In the rare instances it has, the bitcoin community has gone through fierce governance disputes – such as the infamousscaling debates of 2017, which centered on a potential increase to bitcoin’s block size. The philosophical rift ultimately resulted in the creation of bitcoin cashin August 2017.
Still, a prospective hard fork that would change bitcoin’s 21-million-coin supply cap is conceivable, if perhaps heretical.
“It’s not a given that bitcoin has to stay at that 21 million hard limit,” said EY’s Brody (who, it should be noted, is building enterprise applications on top of rival chain ethereum). “There is a governance mechanism to permit changes in bitcoin – if the community agrees that would be good.”
Even so, bitcoin advocate and author Andreas Antonopoulos stressed that governance drama surrounding bitcoin’s supply cap is nothing to lose sleep over – especially since bitcoin’s transition to a purely transaction-fee rewards model will take 120 years.
Antonopoulos added that from the very launch of bitcoin in 2009, mining was always “a marginally profitable endeavor” never intended to stay constant.
“[Mining rewards] dynamically adjust based on the network. … It’s a very complex economic environment. It’s not as simple as people think,” said Antonopoulos, adding:
“There are half a dozen variables that determine miner profitability [right now] including the cost of electricity, their access to bandwidth transaction, the block subsidy, the transaction fees at the time, bitcoin price, their local currency exchange rate, the type of equipment and how efficient it is at converting electricity into mining.”
As such, Antonopoulos says the concerns surrounding a transition from a block subsidy to purely transaction-based block rewards are grossly overblown.
“Nothing magical happens when block subsidy drops to zero,” said Antonopoulos. “It’s a very gradual and predictable change that happens over a period of 120 years. It’s already happening and every day [miners] make their decisions.”
While the 18th million bitcoin may not be the best reminder of the ongoing reality of a limited supply cap, the next upcoming milestone on bitcoin’s horizon assuredly will.
Viewing the next bitcoin halving as a far more notable event in bitcoin’s history, venture capitalist William Mougayar said:
“In my opinion, [the 18 million] milestone is not that significant in relation to the next halving which occurs May 2020. … On that date, the block [subsidy] will go from 12.5 BTC to 6.25 BTC.”
Andreas Antonopoulos image via Christine Kim for CoinDesk
• MakerDAO’s Multi-Collateral DAI Token Is Launching Nov. 18
• Hyperledger Blockchain Group Weighs Changes to Fix Election Issues || US Law Enforcement Traces Bitcoin Transfers to Nab ‘Largest’ Child Porn Site: A U.S. federal grand jury indicted a South Korean citizen for operating the largest child porn site by volume, where visitors spent millions of dollars worth of bitcoin to pay for the illegal content.
Jong Woo Son, 23, the owner of the Welcome to Video (WTV) site has also been charged and convicted in South Korea and is currently in custody serving his sentence there, the Department of Justice said.
The DOJ said 337 site users, including law enforcement officers, from 22 U.S. states and 11 countries around the world were arrested.
The operation resulted in searches of residences and businesses of 92 individuals in the U.S. The investigation has also led to the rescue of at least 23 minor victims residing in the U.S., Spain and the U.K., who were actively being abused by the users of the site.
WTV offered these videos for sale using bitcoin, rather than simply sharing the videos and images over a chat forum. According to the indictment, the site claimed more than a million downloads of child exploitation videos by its users.
Each user received a unique bitcoin address to create an account on the website. An analysis of the server revealed that the website had more than one million bitcoin addresses, signifying that the website had capacity for at least one million users.
A forfeiture complaint was also unsealed today. Law enforcement was able to trace payments of bitcoin to the Darknet site by following the flow of funds on the blockchain. Separately, Chainalysis said it was their Chainalysis Reactor software used to analyze the blockchain transactions.
The virtual currency accounts identified in the complaint were allegedly used by 24 individuals in five countries to fund the website and promote the exploitation of children. The forfeiture complaint seeks to recover these funds and, ultimately through the restoration process, return the illicit funds to victims of the crime.
Chainalysis Reactor transaction activity graph showing the flow of funds in and out of the WTV address.
Chainalysis said that with the site’s listed bitcoin address, IRS Criminal Investigation and Homeland Security Investigations were able to use Chainalysis Reactor to analyze transaction activity and build a graph showing the flow of funds in and out of the WTV address.
Know Your Customer (KYC) processesenabled many of the exchanges involved to provide investigators copies of identification, addresses, and other relevant transactions associated with those accounts. In cases where that was insufficient, account information combined with open source intelligence and standard investigative techniques were enough to identify users.
Chainalysissaid in a statement:
“We want to enable an entire economy powered by cryptocurrency, but sites like WTV destroy the public’s faith in the technology and slow down adoption in the legitimate economy. Fighting against them is a step in the right direction.”
Assistant Attorney General of the Justice Department’s Criminal Division, Brian Benczkowski, said:
“Darknet sites that profit from the sexual exploitation of children are among the most vile and reprehensible forms of criminal behavior. This Administration will not allow child predators to use lawless online spaces as a shield.”
Speaking at a press conference on Wednesday, U.S. Attorney for the District of Columbia Jessie K. Liu said:
“Our message for those who produce, distribute and receive child pornography is clear: you may try to hide behind technology, but we will find you, and we will arrest and prosecute you.”
On March 5, 2018, agents from the U.K., and Korean National Police in South Korea arrested Son and seized the server that he used to operate a Darknet market that exclusively advertised child sexual exploitation videos available for download by members of the site.
The operation resulted in the seizure of approximately eight terabytes of child sexual exploitation videos, which is one of the largest seizures of its kind. The website was also among the first of its kind to monetize child exploitation videos using bitcoin.
The images contained over 250,000 unique videos, and 45 percent of the videos currently analyzed contain new images that have not been previously known to exist.
The DOJ said that two WTV users in the Washington, D.C. area committed suicide after being served search warrants. In that metropolitan area, five search warrants were executed and eight people were arrested for conspiring with the administrator of the site, as well as for being its users.
Among the 36 Americans named in the indictment, at least three were federal law enforcement employees who had been arrested earlier in this long-term investigation.
Former U.S. Navy Petty Officer Don Edward Pannell, II, 32, of Harvey, Louisiana,was arrested in April and plead guiltyin August. Pannell was assigned to Fleet Readiness Center Mid-Atlantic Detachment, New Orleans, and was also identified via his bitcoin use.
HSI computer forensic examiners found more than 1,000 images and 125 videos depicting the sexual victimization of children on Pannell’s home-built tower computer. The images and videos depicted pre-pubescent girls, including toddlers, engaged in sexual acts with adults.
Pannell faces five to 20 years in prison, up to a life term of supervised release, and a $250,000.00 fine, as well as registering as a sex offender. U.S. District Judge Greg G. Guidry will sentence him on Dec. 17.
Former HSI agent Richard Nikolai Gratkowski, 40 at the time, was sentenced in May to 70 months in federal prison on child pornography charges. Theinvestigation showed that Gratkowski, in San Antonio, received hundreds of videos of pre-pubescent children engaged in a variety of sexual acts and had also bought access with cryptocurrency.
U.S. Border Patrol Agent Paul Casey Whipple was arrested, also, in San Antonio in December, 2017, for producing and sharing child pornography over the site. FBI agents determined the videos were produced in Hondo, TX, going back to 2015.
Image via DOJ
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UPDATE (16th October 18:00 UTC):Updated to include coverage from a press conference on Wednesday and more information on those indicted, including former law enforcement officers. || Bitcoin briefly drops below $7,500, touching five-month low: Bitcoin prices fell from $8,000 to as low as $7,450 this morning — a downswing of more than 7%. According to data fromRekto, over the past hour, derivatives exchange BitMEX saw over $205 million worth of XBT Perpetual Swap contracts liquidated. That is to say, a large number of bitcoin levered positions have been automaticallyclosedby BitMEX's system. The low represents a new bottom over the past five months. The price has since settled slightly above $7,500 at the time of this writing.
BTC/USD Price, Source: TradingView
BitMEX Liquidations, Source: BitMEX || Wells Fargo tests cryptocurrency for internal transactions: By Imani Moise (Reuters) - Wells Fargo & Co <WFC.N> said on Tuesday it will pilot its own digital currency powered by blockchain to help move cash across borders and between branches in real time. The currency, called Wells Fargo Digital Cash, will be linked to the U.S. dollar and transferred using the bank's distributed ledger technology to keep track of payments within its internal network. The system will allow the bank to bypass third parties in the asset transfer process saving costs and time, said Lisa Frazier, head of the Innovation Group at Wells Fargo. "We are eliminating the intermediaries which can often extend the timeline to be able to do cross border money transfers," she said. The fourth largest U.S. bank's corporate clients will not have to make any changes to the way they interact with the bank since the currency will not be client-facing. The pilot will begin next year but the bank has tested the technology by moving money between Canada and the United States. Following the broader roll-out the company hopes to expand to multi-currency transfers. Though Wells Fargo executives have been bullish on the potential for blockchain technology in financial services, the company has been more skeptical of cryptocurrencies like bitcoin which launched the system into the spotlight. Last year, Wells Fargo joined U.S. rivals in banning the purchase of Bitcoin by credit-card customers, due to the volatility of the investment. Blockchain technology has attracted billions of dollars in investments from banks and other companies, but concerns about implementation and scalability has hindered many blockchain projects so far. Early roadblocks have not stopped banks from experimenting aggressively in the space. In February, JPMorgan Chase & Co <JPM.N> launched its own digital currency, also linked to the U.S. dollar, that allows its corporate clients to transfer funds instantly across its internal blockchain network. (Reporting by Imani Moise; Editing by Lisa Shumaker) || eToro Launches Crypto Portfolio Weighted by Twitter Mentions: That notorious abyss of Crypto Twitter where the XRP Army patrols, altcoins flourish and falter, and @Vitalik99832182 promising you infinity ETH got a new plaything today: an eToro crypto portfolio calibrated to the tenor of its tweets. The new financial instrument is called TheTIE-LongOnly CopyPortfolio , and, as of Tuesday morning, it was live on eToros trading platform with a minimum $2,000 buy-in. Its a partnership between eToro exchange and The TIE data analysis firm, who sources their tweets about 850,000,000 daily from Social Markets Analytics. With an AI system trawling through that massive trove and multiple benchmarks to compare it against, the network calibrates an optimal crypto portfolio based on the sentiments of those tweets, Joshua Frank, CEO of The TIE told CoinDesk. Related: eToro Aims to Put Derivatives on the Blockchain With Lira Programming Language At launch, the portfolio included five different crypto assets: 47.24% stake in DASH; 23.92% EOS; 21.86% XRP; 5.01% MIOTA; and 1.97% ETC. It rebalances every month. Franks theory: theres no better intel source for crypto market movements than Twitter kind of the epicenter of the crypto universe. Crypto remains an asset class driven by the wisdom of the crowd. Money to Be Made Theres nothing fundamentally driving the value of crypto, said Frank. Theres no earnings, theres no dividends, theres no revenue. Related: Someone Just Hacked Binance Jerseys Twitter Account Without any of the normal metrics driving stock market values in crypto, investor sentiment takes a leading role in determining the value of different crypto assets, he argues. Crypto trades almost entirely on public outlook. And public outlook is forged on Twitter. Like a great swirling ball of pump-and-dump news blasts, the 50,000-odd daily crypto tweets that The TIEs algorithm sweeps up from Twitters daunting 850,000,000 daily output drive the markets, investor sentiment, and ultimately, the price of different crypto assets. Story continues Its the market-moving glue that tells the narrative of crypto traders. And as such, Frank said it is a high value data set for any investor to use. But before now, Frank said that a platform with The TIEs level of real-time sophistication was only available to hedge fund managers and their private clients, who could access, and then sift the Twittersphere with the same Social Markets Analytics (SMA) data stream The TIE uses. SMA licenses Twitters firehose the full daily tweet stream directly from Twitter. (The TIE is an off-shoot of SMA, and Frank said SMA remains an investor.) Now, however, anyone with an eToro account can tap directly into the data stream via the new portfolio. It brings strategies and investment capabilities that have been reserved to crypto hedge funds up until this point to the average retail investor, Guy Hirsch, eToros U.S. managing director, told CoinDesk. The result would have paid dividends in the past, eToro and The TIE tell CoinDesk. The companies back tested their algorithm against two years of crypto Twitter content, from October 2017, and found that the resulting portfolio would have returned 281% returns after fees. A portfolio of the same crypto assets would have only returned 29%. How it Works TheTie-LongOnly portfolios algorithms choose between 13 different coins: BTC, ETH, XRP, IOTA, BCH, NEO, ETC, DASH, EOS, XLM, LTC, ZEC and ADA. eToro and The TIE have not yet discussed adding more, but expect to in the coming years. Part of the challenge of using Twitter as a dataset is filtering the real content from fake. Frank said that so much of Crypto Twitter activity is fraudulent, either because of bot accounts or designated shills, that it can be daunting to go through it all. Were actually eliminating about 90% of tweets because we think theyre coming from bots or people trying to manipulate the market. But even before the algorithm squashes bots, and long before it makes a judgement as to whether a tweet employs positive or negative sentiment, it must intuit whether the tweet is actually about crypto. We have to identify and assess the relevance of each individual tweet, Frank said. That can be harder than it seems; Frank said that there are 80 overlapping keywords between crypto markets and other areas. Is that EOS tweet referring to the EOS blockchain and token, or the popular line of Canon cameras? Natural language processing and a comprehensive buzzword dictionary figure it out. Once those problems are eliminated, the actual sentiment-crunching can begin. Tweet sentiment is compared against tweet sentiment, not against other coins. We know, for example, there are a bunch of XRP shills pushing out positive tweets, Frank explained. So well say, hey, how much more positive or negative are conversations on XRP today versus the last seven days to account for that. LongOnlys Long Game The resulting composite is, predictably, as much an emotional HODL-coaster as any individual coin has ever been. In January 2019 the portfolio would have lost 17% before rebounding 410% come February, a review of TheTIE-LongOnlys retroactive projections show. Stuart Colianni, a Machine Learning graduate student at Georgia Tech, who studied the relationship between Twitter sentiment and crypto valuations at Stanfords Information Management program, told CoinDesk massive swings could be a turn-off to investors. While the concept is really good and probably fertile ground for pursuing new investment strategies, people just have to be wary of the amount of risk that theyre potentially exposed to. But The TIE plans to build tweet sentiment portfolios for investors of queasy constitutions, too. One product in the works takes out 50% long and 50% short positions so your net exposure to the market is zero, Frank said. Its all in the name of bolstering cryptos mass adoption, said Hirsch, the eToro manager. He sees the new portfolio as an accessible investment, especially for crypto-curious individuals still mystified by anything blockchain. We hope that this will give people on the fence about crypto a path to enter this asset class, as opposed to trying to figure out for themselves when to sell and when to buy. Illustration via CoinDesk Related Stories Barclays Is No Longer Banking Coinbase British Authorities Seek Data from Crypto Exchanges in Search of Tax Evaders
[Random Sample of Social Media Buzz (last 60 days)]
Bull Signal: Sparkle @ $0.027708; w/ 8.62% 1H return. Check it out: https://t.co/SI3PR8jf9j #crypto #bitcoin #SPRKL $SPRKL || Use the offer code "CraigIsSatoshi" to get 10 percent off these great t shirts at checkout. #bitcoin #bsv #btc #bch @nChainGlobal @CalvinAyre https://t.co/NtA20IBS8g || BTC/JPY = 923762円
ETH/JPY = 20694円
XRP/JPY = 29.328円
LTC/JPY = 6227.3円
#ビットコイン #仮想通貨 #BTC #ETH #XRP #LTC || Beep. Ding. Vroom. Electric Cars Need to Make Noise for Safe..
@News_1jl4 - nytimes - Twitter - News - Noticias -
Bitcoin - CryptoCurrency - @InvestCrypForex - @1jl4com - @Health14Fitness - @Marketing_1jl4 - @bitcoinincoins > https://t.co/JoicL6Yzxd || O valor do Bitcoin aumentou :) - R$41529.98985 || 明日(毎週日土曜日)は、
ヘッジファンド(大口)のポジションが公開される日です。
2018年調整相場開始以来大口のポジションは常にショート優勢でしたが、
その保有量は減少傾向です。
10/15のBTC高騰以来、はじめてのポジション公開は注目です。 https://t.co/mpxfEENw1M || 10/06 03:30 現在のビットコインの価格
BTC/JPY ask: 867,609 / bid: 866,872
・sp: 737 ・ps: +0.265% || @casestreetx Hi Casey, do you have a #bitcoin or #litecoin wallet? I can send to some? || Perkiraan Elliott wave untuk Bitcoin, Ripple dan Ethereum
Perkiraan Elliott wave untuk BTCUSD, ETHUSD, XRPUSD untuk hari ini
Analisis Elliott wave BTCUSD
Pasar membentuk bagian akhir dari diagonal terdepan dalam jangka panjang (1). Kemungkinan …
https://t.co/2HxwdfvpxD https://t.co/3TuGWMtO7k || 1/2
Top 5 Cryptocurrency
# Name Volume price
1 Bitcoin $13,965,437,764 $7916.78
2 Ethereum $6,159,374,893 $172.64
3 XRP $1,253,010,237 $0.264467
|
Trend: up || Prices: 7493.49, 8660.70, 9244.97, 9551.71, 9256.15, 9427.69, 9205.73, 9199.58, 9261.10, 9324.72
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2021-05-07]
BTC Price: 57356.40, BTC RSI: 52.88
Gold Price: 1831.10, Gold RSI: 68.14
Oil Price: 64.90, Oil RSI: 58.39
[Random Sample of News (last 60 days)]
'Britcoin' digital currency being considered by UK: LONDON (AP) British authorities are exploring the possibility of creating a new digital currency that Treasury chief Rishi Sunak touted as "Britcoin." The Bank of England and the Treasury said Monday that they will work together to assess the benefits of a central bank digital currency, at a time when cash payments are generally on the decline, partly as a result of the coronavirus pandemic. The bank said the new currency, if it comes to pass, would be a new form of digital money for use by households and businesses and would exist alongside cash and bank deposits, rather than replacing them. Digital currencies, which are only available in digital or electronic form, are already being explored or even implemented in several other countries, with many proponents drawing inspiration from the success of Bitcoin and other so-called cryptocurrencies. However, digital currencies, like the one being considered in the U.K. are different in a key sense to Bitcoin as they are issued by state authorities. The world is going the way of digital currencies and we have to find a place for them in the mainstream, said Anne Boden, founder and chief executive of app-based Starling Bank. One of the benefits of a digital currency would be as a backup to card payments if cash payments continue to drop in the years to come by the end of this decade, only one in 10 payments in the U.K. are expected to be made with traditional paper money. Proponents of digital currencies also think they can provide another way for people to make purchases online. Currently, only the Bahamas has such a currency, though China is trialing it in several cities. Sweden has indicated it could have its own digital currency by 2026, while the European Central Bank has indicated an electronic euro might be created within four years. The new British task force is part of a series of measures that Treasury chief Sunak hopes will help the U.K.s financial technology sector. Story continues Our vision is for a more open, greener, and more technologically advanced financial services sector," he told a fintech conference. "And if we can capture the extraordinary potential of technology, well cement the U .K.s position as the worlds preeminent financial center. Promoting Monday's announcement on Twitter, Sunak was brief. Britcoin?, he posited. || Daily Gold News: Thursday, Mar. 18 – Gold’s Further Consolidation: Thegoldfutures contract lost 0.22% on Wednesday, as it extended a short-term consolidation following rebound from last Monday’s local low of $1,763.30. The Wednesday’s FOMC release led to an increased volatility. However, gold went basically sideways. A week ago yellow metal’s price was the lowest since early June. Today gold is retracing its intraday advance, as we can see on the daily chart (the chart includes today’s intraday data):
Gold is 0.6% lower this morning, as it is trading within a short-term consolidation. What about the other precious metals?Silveris 0.6% lower,platinumis 0.1% higher andpalladiumis 1.9% higher today.So precious metals are mixed this morning.
Today we will get the Philly Fed Manufacturing Index and Unemployment Claims releases.
Where would the price of gold go following yesterday’sFOMCrelease?We’ve compiled the data since January of 2017, a 50-month-long period of time that contains of thirty four FOMC releases. The first chart shows price paths 5 days before and 10 days after the FOMC release. We can see that the biggest 10-day advance after the FOMC day was +10.5% after March 15, 2020 release and the biggest decline was -7.2% after March 3, 2020 release. But we’ve had an increased volatility following coronavirus fear then.
The latest FOMC Statement release came out on January 27th. Gold price was 0.1% lower 10 days after the release.
The following chart shows average gold price path before and after the FOMC releases. The market was usually declining ahead of the FOMC day. Then it was going up for a week-long period. We can see that on average, gold price was 0.61% higher 10 days after the FOMC Statement announcement.
Below you will find ourGold, Silver, and Mining Stockseconomic news schedule for the next two trading days:
Thursday, March 18
• 5:00 a.m. Eurozone – ECB President Lagarde Speech
• 8:00 a.m. Eurozone – ECB President Lagarde Speech
• 8:00 a.m. U.K. – Monetary Policy Summary, Official Bank Rate
• 8:30 a.m. U.S. – Philly Fed Manufacturing Index, Unemployment Claims
• 10:00 a.m. U.S. – CB Leading Index m/m
Friday, March 19
• Tentative, Japan – Monetary Policy Statement, BOJ Policy Rate
• Tentative, Japan – BOJ Press Conference
For a look at all of today’s economic events, check out oureconomic calendar.
Paul RejczakStock Selection StrategistSunshine Profits: Analysis. Care. Profits.
* * * * *
Disclaimer
All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.
Thisarticlewas originally posted on FX Empire
• GBP/USD Price Forecast – British Pound Continues Grind
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• GBP/JPY Price Forecast – Continues to Look Towards the Upside
• Gold Price Forecast – Gold Continues to Struggle Breaking Out
• Dollar General Shares Slump Over 6% as Earnings, Outlook Disappoints
• Bitcoin Bearish Reversal Still In Play || Crypto Mining Stocks Could Keep Beating Bitcoin in ‘Modern-Age Digital Gold Rush’: Over the past year, crypto mining stocks have outperformed bitcoin (BTC), and the trend has accelerated since the cryptocurrency climbed past $20,000 a few months ago, according to the financial research firm FundStrat . The dynamic might hold if bitcoin stays in a bull market, the firm predicts. “Bitcoin and the wider crypto market are the modern-age digital gold rush,” wrote FundStrat, which means crypto mining stocks could see further upside. Because “miners play such a critical role in ensuring the Bitcoin network functions properly, investors have sought opportunities to gain exposure to mining companies,” which generate revenue in the form of mined bitcoin. The largest publicly listed mining companies include Riot Blockchain (NASDAQ: RIOT), Hive Blockchain (OTCMKTS: HVBTF), and Marathon Patent Group (NASDAQ: MARA). As the bitcoin price increases, miners spin up new rigs or upgrade hardware in pursuit of higher block rewards. And FundStrat expects more-efficient mining machines will help some firms remain competitive, which could boost profit margins. But buyer beware: “Mining company equities may serve as a high-beta play on bitcoin … [and when the cryptocurrency] enters a bear cycle, we would expect mining equities to have greater downside volatility than bitcoin,” according to FundStrat. Related Stories Crypto Mining Stocks Could Keep Beating Bitcoin in ‘Modern-Age Digital Gold Rush’ Crypto Mining Stocks Could Keep Beating Bitcoin in ‘Modern-Age Digital Gold Rush’ Crypto Mining Stocks Could Keep Beating Bitcoin in ‘Modern-Age Digital Gold Rush’ Crypto Mining Stocks Could Keep Beating Bitcoin in ‘Modern-Age Digital Gold Rush’ || AMD May Repurpose Its Apple-Exclusive GPUs For Cryptocurrency Mining: Reports: What Happened: Advanced Micro Devices, Inc. (NASDAQ: AMD ) may be looking to release its own cryptocurrency mining-specific GPUs, according to reports . AMD’s GPUs were originally manufactured exclusively for Apple Inc (NASDAQ: AAPL ), but a recent announcement from the company communicating a “set of fixes” to the AMDGPU kernel driver suggests that the graphics card will be repurposed for cryptocurrency mining. Specifically, the GPU no longer supports Video Core Next (VCN) which renders it effectively useless for gamers but an ideal option for cryptocurrency miners. AMD’s move comes after NVIDIA Corporation (NASDAQ: NVDA ) announced their CMP cards, exclusively meant for cryptocurrency mining. The NVIDIA CMP cards are Cryptocurrency Mining Processor cards that will be a line of hardware focused on professional mining, with an emphasis on Ethereum. See also: Best Cryptocurrency Apps Why It Matters: Bitcoin and Ethereum mining is a massive industry, with miners on both the blockchains each recording daily revenues of over $50 million a day. Mining companies like Marathon Digital Holdings Inc (NASDAQ: MARA ) and Riot Blockchain Inc (NASDAQ: RIOT ) have seen their share price rally by over 1000% in the past six months that followed the surge in cryptocurrency prices. The attractive fees to be earned in cryptocurrency mining operations have made the business a lucrative investment for many companies that have been focused on moving into the space. On March 8, Norway-based oil and gas giant Aker (OTCMKTS: AKAAF) announced it would set up its own Bitcoin mining unit. The company would set up a unit called Seetee for its mining operations and will reportedly place all of Seetee’s liquid assets in Bitcoin. In a letter to the company’s shareholders, Aker CEO Oeyvind Eriksen stated, “To get long-term exposure to bitcoin, the ability to increase that with mining, and the chance to create new companies with some of the brightest minds in the world, is a once in a lifetime opportunity. It would be insane not to do it.” Story continues See more from Benzinga Click here for options trades from Benzinga Cathie Wood Thinks Bitcoin And Other Cryptocurrencies Could Soon Become Part Of Typical Investor Portfolios Major Crypto Exchange Coinbase Closes In On Going Public With Pre-IPO Valuation Of 0B © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The Crypto Daily – Movers and Shakers – April 25th, 2021: Bitcoin , BTC to USD, fell by 1.91% on Saturday. Following on from a 1.17% decline on Friday, Bitcoin ended the day at $50,161.0. A mixed start to the day saw Bitcoin rise to an early morning intraday high $51,201.0 before hitting reverse. Falling short of the first major resistance level at $52,993, Bitcoin fell to a late morning intraday low $48,852.0. While steering clear of the first major support level at $48,422, Bitcoin fell back through the 23.6% FIB of $50,473. Finding late morning support, however, Bitcoin broke back through the 23.6% FIB to revisit $51,000 levels before easing back. A bearish end to the day saw Bitcoin fall back through the 23.6% FIB to end the day at sub-$50,200 levels. The near-term bullish trend remained intact in spite of the latest reversal. For the bears, Bitcoin would need to slide through the 62% FIB of $27,237 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a mixed day on Saturday. Crypto.com Coin rose by 2.70% to buck the trend on the day. It was a bearish start for the rest of the majors, however. Chainlink and Ripple’s XRP slid by 11.06% and by 10.17% respectively to lead the way down. Binance Coin (-5.68%), Bitcoin Cash SV (-5.21%), Cardano’s ADA (-4.66%), Ethereum (-6.47%), Litecoin (-6.77%), and Polkadot (-8.32%) also struggled. In the current week, the crypto total market rose to a Monday high $2,100bn before sliding to a Friday low $1,648bn. At the time of writing, the total market cap stood at $1,787. Bitcoin’s dominance rose to a Tuesday high 54.32% before falling to a Thursday low 50.03%. At the time of writing, Bitcoin’s dominance stood at 52.25%. This Morning At the time of writing, Bitcoin was up by 0.15% to $50,238.0. A mixed start to the day saw Bitcoin fall to an early morning low $5,0005.0 before rising to a high $50,273.0. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Story continues Polkadot was up by 0.25% at the turn of the day to buck the trend. It was a bearish start for the rest of the majors, however. At the time of writing, Crypto.com Coin was down by 3.22% to lead the way down. For the Bitcoin Day Ahead Bitcoin would need to avoid the $50,071 pivot to bring the 23.6% FIB of $50,473 and the first major resistance level at $51,291 into play. Support from the broader market would be needed for Bitcoin to break out from Saturday’s high $51,201.0. Barring an extended crypto rally, the first major resistance level and Saturday’s high would likely cap any upside. In the event of an extended crypto rally, Bitcoin could test resistance at $53,000 before any pullback. The second major resistance level sits at $52,420. Failure to avoid a fall through the $50,071 pivot would bring the first major support level at $48,942 into play. Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$47,000 levels. The second major support level at $47,722 should limit the downside. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Weekly Price Forecast – Crude Oil Continues to Struggle PCE Versus CPI: Which One Will Sway the Fed’s Outlook on Inflation? European Equities: A Week in Review – 23/04/21 Asia-Pacific Shares Mostly Higher; Japanese Stocks Fall on COVID-Related Lockdown Fears Silver Weekly Price Forecast – Silver Gives Up Early Gains Crude Oil Price Update – Could Strengthen Over $62.29, Weaken Under $60.83 || What to Watch: Travel sell-off continues, oil finds support, and Bellway revives divi: A protester wearing a mask holds a placard at Plaza de la Constitucion square during the demonstration in Malaga, Spain. Employees from S.O.S Souvenirs association who work in tourists souvenir stores, demand that the Spanish government ensures the survival of this industry. Photo: Jesus Merida/SOPA/LightRocket via Getty (SOPA Images via Getty Images) Here are the top business, market, and economic stories you should be watching today in the UK, Europe, and abroad: Travel sell-off continues Travel stocks looked set for another day of selling on Wednesday as investors wager that the summer holiday season could be cancelled. Travel stocks sunk on Tuesday as Germany extended its lockdown until 18 April and the UK introduced fines of up to £5,000 for anyone travelling abroad. "The extended lockdown in Germany, and Boris Johnson’s claim he has ‘no doubt’ that the third wave will hit British shores, has kept the markets, if not panicked, then in a state of quiet concern," said Connor Campbell, a financial analyst at SpreadEx. British Airways-owner IAG ( IAG.L ) fell 1.3% in London on Wednesday, easyJet ( EZJ.L ) fell 0.5%, and engine maker Rolls-Royce ( RR.L ) dropped 2%. Lufthansa ( LHA.DE ) was down 1.4% in Frankfurt. European stocks under pressure European stocks were weak at the open amid continued concerns about a third wave of COVID-19 sweeping the continent and reports on a looming EU block on vaccine exports. The FTSE 100 ( ^FTSE ) fell 0.7% at the open in London, while the CAC 40 ( ^FCHI ) and the DAX ( ^GDAXI ) both dropped 0.9% on the continent. The New York Times reported late on Tuesday that the European Union was drawing up plans to block exports of COVID-19 vaccines for six weeks. The report cited draft legislation due to be published on Wednesday. The paper said the move was likely to "disrupt supply to Britain." The looming export ban comes amid a row between the EU and AstraZeneca over fulfilment of Europe's order of vaccine. The EU believes AstraZeneca ( AZN.L ) is unfairly rerouting jabs made within the bloc to Britain. O il finds support Oil prices rallied after a sharp sell-off in the last session. Oil futures dropped as much as 6% on Tuesday amid concerns that the COVID-19 third wave could lead to oversupply in the market. Prices rallied on Wednesday. Brent futures ( BZ=F ) were up 2.2% to $62.12 and crude futures ( CL=F ) were 2.2% higher to $59.05. Story continues News broke overnight that Egypt's Suez canal had been blocked after a gust of wind knocked a shipping container off course , leaving it wedged sideways in the channel. Jim Reid, a senior strategist at Deutsche Bank, said the blockage "could have an impact on movement of oil and consumer goods". The Suez canal is one of the busiest and most important shipping routes in the world. Bellway revives divi House builder Bellway ( BWY.L ) has reinstated its dividend after the recent lockdown property boom helped it reach record house sale revenues. Bellway announced a 35p interim dividend as it said half year revenues rose 11.6% to to £1.7bn — a record high. Pre-tax profit slipped 4% to £280m. The builder was hit by £20m in costs related to cladding. "Sales rates were more pronounced in the Summer and early Autumn, given the pent-up demand arising from the Spring national 'lockdown'," chief executive Jason Honeyman said. "The reservation rate slowed during November, as the sector transitioned to the new Help-to-Buy rules and more widespread 'lockdown' measures were reintroduced. "Despite the escalation of these 'lockdown' measures in the new calendar year, sales rates recovered to a more normalised level for the remainder of the trading period, boosted by the effective transition to the new Help-to-Buy scheme, which has been well received by our customers." Shares dropped 2%. WATCH: What is bitcoin? Bitcoin scores Tesla boost The price of bitcoin spiked on Wednesday morning after Elon Musk said the cryptocurrency could now be used to buy Tesla ( TSLA ) electric vehicles. "You can now buy a Tesla with Bitcoin," Musk wrote on Twitter shortly after 7am UK time on Wednesday. Billionaire Musk said bitcoin would be accepted in the United States and "will be retained as Bitcoin, not converted to fiat currency." Bitcoin was up 3% against the dollar to $55,444.21 ( BTC-USD ) shortly after the tweet. UK inflation undershoots UK inflation dropped unexpected in February, according to official data, as retailers slashed clothing and footwear prices to try and shift excess stock. The Office for National Statistics (ONS) said annual consumer price inflation was 0.4% in February, falling from 0.7% in January. Economists had forecast a rise to 0.8%. Falling prices for clothing, second-hand cars, and games acted as a downward drag on inflation last month, while fuel and housing costs rose. WATCH: What is inflation and why is it important? || Ethereum is rising faster than Bitcoin is it a good investment?: Ethereum - lucadp/lucadp Ethereum is well known in the cryptocurrency world but lacks the star status of Bitcoin among mainstream investors. It is second to Bitcoin in terms of market value, at £220bn compared with Bitcoins £520bn. Like Bitcoin its price has been knocked from an all-time high, and fell yesterday after China's central central bank warned financial firms about accepting cryptocurrencies as payment. But it has recovered some of that ground and is rising faster than Bitcoin this year, up 269pc versus 35pc. One Ethereum token now costs $2,690 (£1,900). But what exactly is it, will its price keep rising, and should investors buy some? What is it? Ethereum is a cryptocurrency , like Bitcoin, which runs on its own "blockchain", an online ledger which tracks the transfer of information. It was created by Vitalik Buterin in 2013, a developer who was just 19 at the time. His vision was for a decentralised payment network, with its own cryptographic currency, that allows anonymous payments to be sent across the internet without the need for a bank or other third party. As the second-biggest cryptocurrency after Bitcoin, Ethereum has inevitably drawn comparisons to it. Its rapid rise has also led to claims of a bubble. But advocates say Ethereum has several advantages over Bitcoin that make it more useful. The first is that Ethereum allows for "blocks", the records of cryptocurrency transactions, that can be created much more quickly than Bitcoin. While Bitcoin has been more widely adopted by online retailers and even some physical stores, Ethereum's fans believe its efficiency makes it better for transactions, rather than storing value. But the major advantage of Ethereum is that the technology allows for third party applications, not just the currency, to run on the network. Bitcoin's appeal lies in money that is not controlled by any one party and does not have to run through a central server, but Ethereum allows not just money, but all sorts of other things to run on the network. Story continues Storing files on a cloud storage service like Dropbox means the user is trusting Dropbox to take care of it, but on a decentralised storage network, they are placing their faith in fellow users who have an interest in maintaining it. A number of apps are being built on Ethereum, and the network is also being used by start-ups to raise money with initial coin offerings, which exchange Ethereum or other currencies for special "tokens" that grant access to a service. Why is the price rising? The price of Ethereum is linked to the price of Bitcoin, as there is an overlap between those buying both. When cryptocurrency buyers are optimistic, that will be reflected in price rises for a number of different currencies. When they are pessimistic, they will dump many of them as well. However, there have been a number of events specific to Ethereum that have led investors to bid up prices this year. For example, this month there was a change in the way Ethereum is used in transactions, known at the Ethereum Improvement Proposal 1559. David Derhy, of cryptocurrency exchange eToro, said currently users paid a fee to a cryptocurrency "miner" for a transaction to be included in a block, but under the new proposals fees would be sent to the network instead, in a new charging structure called a "basefee". Miners will only be given an optional tip by users, with the basefee set by an algorithm and thus easier for users to understand and check if they are paying a fair fee or not. "The market is already welcoming the moves. Ethereum and Bitcoin prices have both rebounded this week amid the news, as well as because of the latest expectations of further government stimulus," he said. Another big development this year was that Christies, the auction house, announced it would accept Ethereum as a form of payment for a piece of digital artwork , known as a non-fungible token, or NFT. It said while plans to accept Ethereum were restricted to this single lot, it recognised the growing importance of cryptocurrencies as a global form of payment. Should you invest? The same arguments for buying or avoiding Bitcoin can be applied to Ethereum. Sceptics argue that cryptocurrencies have no intrinsic value, could face regulatory hurdles which would block people from buying them, and are too volatile to ever become a reliable store of value or medium of exchange. Fans counter that trust in cryptocurrencies is built on their "incorruptible" blockchain ledgers and limited supply of coins, which provide a sound store of value in a world of fiscal stimulus and money printing, which will ultimately lead to inflation. Therefore, over long periods, the value of digital assets will keep rising, they argue. What is certain is that any cryptocurrency investment is likely to be volatile, so it is not for investors that might need to cash out over short periods. Digital assets should also be held as part of a balanced portfolio which contains mainstream assets like stocks and bonds. For example, Ruffer, the investment manager, invested 2.5pc of its portfolios in Bitcoin. That said, Mr Derhy was positive about the potential this year for Ethereum and said it could stay over $2,000 because of the changes being made to its fee structure. How to invest? Ethereum is available on most cryptocurrency exchanges. The largest include Coinbase, eToro and Binance. Binance and eToro do not charge transaction fees on Ethereum, however there are fees for withdrawing the coins from the exchange. Coinbase has different fee tiers, with transactions under $10 (£7) costing £1 and a £3 charge on deals between $50 and $250. Any purchase over $250 carries a 1.49pc fee for British customers. Investors also have to pay a spread the difference between the buying and selling price which tends to come in at around 0.5pc. || Swiss Crypto Firm Bitcoin Suisse Turned Down on Banking License: Cryptocurrency trading platform Bitcoin Suisse AG has had its application for a Swiss banking license turned down.
• According to the the Swiss Financial Market Supervisory Authority (FINMA), the Zug-based financial services providers’ application is ineligible for approval, the regulatorannouncedWednesday.
• Providing few details, FINMA cited a number of “elements that are relevant under licensing law,” such as “weaknesses in money-laundering defense mechanisms,” as the reason for the rejection.
• The financial watchdog has now terminated the licensing procedure after Bitcoin Suisse indicated it would not be continuing with its application at the present time.
• Bitcoin Suisseappliedfor a banking license in July 2019.
• The firmraisedmore than CHF 45 million (US$48.5 million) in Series A funding in July 2020, which it claimed pushed its valuation to CHF 302.5 million ($327 million).
See also:Switzerland’s ‘Crypto Valley’ Has Started Accepting Bitcoin, Ether for Tax Payments
• Swiss Crypto Firm Bitcoin Suisse Turned Down on Banking License
• Swiss Crypto Firm Bitcoin Suisse Turned Down on Banking License
• Swiss Crypto Firm Bitcoin Suisse Turned Down on Banking License
• Swiss Crypto Firm Bitcoin Suisse Turned Down on Banking License || Jerome Powell dismisses cryptocurrencies as a speculative asset: [hotlink][/hotlink] Dont expect the Fed to embrace Bitcoin anytime soon. Federal Reserve Chairman Jerome Powell, speaking at a virtual panel discussion on digital banking hosted by the Bank for International Settlements, brushed off cryptocurrencies and their recent spike in price, saying the central bank is keeping its focus on more traditional investments. Its more a speculative asset thats essentially a substitute for gold rather than for the dollar, said Powell. Bitcoin prices were down more than $465 in midday trading Monday, but the crypto is still trading at $57,112. Year to date, Bitcoin has seen its value soar 96%and at least one pattern predicts it will hit $70,000 before long . Those prices have surged almost 600% since the start of 2020 with extreme volatility , but bears including Big Short investor Michael Burry argue cryptocurrencies are in a speculative bubble. And Powell seems to agree. Theyre highly volatile and therefore not really useful stores of value, and theyre not backed by anything, Powell said. While the central bank isnt a fan, more investment banks are becoming interested . Citibank last November said Bitcoin could pass $300,000 by the end of 2021. JPMorgan is less bullish, though, saying it could reach as high as $146,000 in the long term. (That in itself was notable, as CEO Jamie Dimon once called Bitcoin a fraud.) The Federal Reserve has looked into creating its own digital currency, but Powell said any movement on that would be done with great care and transparency and would likely need the blessing of Congress to proceed. In the meantime, Bitcoins value continues to exceed many top-tier companies, including [hotlink]Facebook[/hotlink]. According to CoinGecko, there are now 18.6 million Bitcoins in circulation, giving the digital currency a market cap of over $1 trillion . This story was originally featured on Fortune.com || CBD of Denver Inc. (CBDD) Becomes One of the First CBD Companies to Accept Bitcoin and Other Crypto Currencies: Denver, Colorado--(Newsfile Corp. - March 30, 2021) - CBD of Denver, Inc. (OTC: CBDD), a full-line CBD and Hemp oil company ("CBDD") and a producer and distributor of Cannabis and CBD products in Switzerland, Europe, and the US, closed its first deals paid in Bitcoin and other popular crypto currencies. Rockflowr Group has integrated a process allowing them to accept Bitcoin and other popular Crypto Currencies as payment for CBD wholesale business. "We successfully closed our first transactions with Bitcoin this week following the global trend. All transactions work smoothly and at our client's satisfaction," reports CEO Marcel Gamma. "Because of this new payment method we will be able to further expand our customer base even more and become one of the biggest players in the European Market as several of our new potential clients have been waiting on this," states Pascal Siegenthaler, Managing Director Sales. Follow CBDD on Instagram: @SwissCBDTrading @Rockflowr @CBDofDenver_Inc @SwissGreenGrow @RockflowrRetail CBD of Denver, Inc., Rockflowr GmbH and Swiss Industry Ventures AG are now also on LinkedIn. About CBD of Denver, Inc. CBD of Denver, Inc. (OTC: CBDD) a full-line CBD and Hemp oil company ("CBDD") and a producer and distributor of Cannabis and CBD products in Switzerland, Europa and US. CBDD is focused on using equity to acquire profitable Swiss assets at attractive valuations to create value for all our shareholders driven by a passion to improve lives and strengthen communities by unleashing the full potential of cannabis. Through our brand Rockflowr and BlackPearlCBD we reach our consumers and have built up a strong customer base by focusing on top quality products and meaningful customer relationships. Black Pearl CBD has 0% THC, but is not an Isolate where the THC is stripped from the product rendering it ineffective. We use a proprietary technique adding terpenes as the activation ingredient, resulting in a product that is the finest in the industry and only available at www.cbdofdenver.com Story continues Information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, involving known and unknown risks and you should not place undue reliance on these statements. Any forward-looking statement reflects our current views with respect to future events. We assume no obligation publicly about update or revise these forward-looking statements for any reason. Marcel Gamma [email protected] To view the source version of this press release, please visit https://www.newsfilecorp.com/release/78917
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 58803.78, 58232.32, 55859.80, 56704.57, 49150.54, 49716.19, 49880.54, 46760.19, 46456.06, 43537.51
|
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 2021-09-23]
BTC Price: 44895.10, BTC RSI: 46.90
Gold Price: 1747.70, Gold RSI: 38.97
Oil Price: 73.30, Oil RSI: 61.73
[Random Sample of News (last 60 days)]
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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• Cuba Reportedly Looks Into Recognizing Crypto On National Level
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoins Rally to $90K+ Back on Track: Last week, see here , I showed the Bullish Elliott Waves (EWP) option for Bitcoin (BTC), looking for a rally to initially mid-$40Ks (its 200-day simple moving average (SMA)) before a multi-week pullback should happen. In finer detail, I had placed a wave-iv of wave-1 label at around the August 3 low of $37718, expecting a wave-v of 1 higher to commence soon. Bitcoin bottomed a daily later at $37526 and is now trading at $46.5K. Thus, so far, so good. Figure 1. Bitcoin daily chart with detailed EWP count and technical indicators. A break below Mondays low at $42818 is the Bulls first warning Last week I found, Because one can always find a bullish or bearish data point to support ones biased view, it is the weight of the evidence approach that allows for a much more objective interpretation. In this case, it is rather apparent the weight of the evidence is predominantly bullish. All BTC now needs to do is reclaim its 200d SMA. Thus, my objective analyses, which my premium crypto trading members bank on, pointed in the right direction, and Bitcoin has now reclaimed its 200d SMA. Given that the daily chart is still Bullish price is above all its SMAs and those are rising. Note the four green arrows at the upper left corner of the chart. Its called the traffic light, and it means GO when it is green. And the currency is above its Ichimoku cloud as well, A possible more Bullish alternative should be considered. Namely, the current red wave-v can subdivide higher to $58-59K. But, I find that option less likely because of the divergences on the technical indicators and overbought money flow. Thus, a break below the 200d SMA from current levels is a first warning sign for the bears that the (black) major-2 wave is likely underway. In contrast, a break below Mondays low ($42818, red horizontal arrow) increases those odds even more as the cryptocurrency makes lower lows. Bottom line: Last week, I found, If BTC can hold above $35495 from now on (the red wave-i high made on June 24) and rallies towards its 200d SMA from around current levels, then the chart shows a perfect setup for five waves higher since the June 22 low. That would significantly increase the odds for a pullback, wave-2, before a solid rally to ideally new all-time highs; wave-3. The cryptocurrency did just that and even gave us a little more upside. Thus my preferred POV remains BTC should see a decent pullback soon before rallying again. Alternatively, since upside surprises and downside disappoints in Bull markets, a continued $58-59K is not entirely unlikely. The Bears will now have to break $30K to target $20K. Story continues For a look at all of todays economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: USD/CAD Exchange Rate Prediction The Dollar Slips on Softer Core CPI Amazon Launches Its $1.5 Billion Air Hub In Kentucky USD/CAD Daily Forecast Test Of Support At 1.2500 Gold Price Prediction Prices Rebound on Core CPI Decelleration Gold Price Forecast Gold Markets Trying to Recover Natural Gas Price Fundamental Daily Forecast Less Heat, Low LNG Demand Capping Gains Ahead of EIA Report || Bitcoin surges 15% to top $38,000, boosted by comments from influential investors and chatter about Amazon getting into crypto: OZAN KOSE/AFP via Getty Images Bitcoin rose 15% to its strongest level since mid-June on Monday. Positive remarks by Elon Musk, Jack Dorsey, and Cathie Wood at "The B Word" event helped drive the gains. Chatter about Amazon possibly accepting bitcoin payments by the end of 2021 are seen as adding further support. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . Bitcoin leapt 15% on Monday to rise above $38,000 for the first time in about six weeks, after remarks from influential commentators and a report that Amazon is considering accepting payments in the cryptocurrency helped restore bullish investor sentiment. The coin was trading at around $38,750 as of 3:15 a.m. ET, representing a 33% gain so far this year. It had earlier hit a 24-hour high of about $39,544, its highest level since mid-June. After being stuck in a descending slope for three months, bitcoin broke out at the top end of recent levels following positive comments from leading CEOs Elon Musk, Jack Dorsey, and Cathie Wood at "The B Word" event last week. Tesla CEO Musk said the electric-vehicle maker would be open to accepting bitcoin as payment again , as long as the mining community strives to move towards efficient energy use. Twitter boss Dorsey said that bitcoin is a big part of the social-media platform's future, and that he's working to make an accessible wallet for it via payments company Square. A report from London's City A.M. about Amazon possibly accepting bitcoin payments by the end of 2021 also helped drive the digital currency's move higher. The roll-out may not take long, since the online retail giant has been working on these plans since 2019, a source told the newspaper, it reported. Amazon is also looking to hire someone to lead its digital currency and blockchain initiatives. The re-emergence of institutional experts, along with Goldman Sachs' recent services for institutional trades in bitcoin, helped drive the weekend rally for bitcoin, Jeffrey Halley, a senior market analyst at OANDA, said in a note on Monday. Story continues "I still believe the entire sector and un-stable coins are complete nonsense that will lose small investors billions, but the people have spoken, and the digital Dutch tulips look ripe for a large rally in the short term," Halley said. Read More: 5 crypto experts explain why bitcoin is charging back into a bull market after a brief dip below $30,000 - plus 3 under-the-radar ways to gain balanced exposure to the crypto ecosystem Read the original article on Business Insider || Coinbase Stock Will Keep Benefitting From the Crypto Craze: Coinbase (NASDAQ: COIN ) stock enjoys the first-mover advantage with cryptocurrency and has taken crypto mainstream with its user-friendly investment platform. The Coinbase (COIN) logo on a smartphone screen with a BTC token. Source: Primakov / Shutterstock.com Bitcoin (CCC: BTC-USD ) has attracted massive interest and investment over the last few months. Investors have high hopes on Bitcoin’s price movement, which has driven BTC higher and it has worked in favor of Coinbase. InvestorPlace - Stock Market News, Stock Advice & Trading Tips COIN stock is trading close to $268 today, far from its peak of $429 but with strong potential to move upwards. I had recommended a buy in July when it was trading at $225. If you bought COIN stock then, you would be sitting on 15% gains today. The first crypto-focused company came with an IPO at the right time. It debuted in April and was well-received by the investors. Coinbase has simplified the process of buying and selling cryptocurrencies and garnered a massive user base. Its Q2 numbers are proof that the company is firing on all cylinders and as BTC continues to gain, COIN stock will move higher. Let’s dig deeper in the Q2 results of the company. Impressive Q2 Results and COIN Stock Coinbase has an impressive growth story, and the revenue growth is proof that it is moving in the right direction. The company makes money from the crypto trading volume, and frequency. When there is volatility in the price of crypto, the company will make money with every trade you make. It is not dependent on the price of BTC, although it is sensitive to it. Hence, a drop in the price of Bitcoin can lead to a fall in COIN stock. 7 Healthcare Stocks to Buy Before $3.5 Trillion Floods In The company will charge a fee for each purchase or sale transaction made on the platform. Its transaction revenue is 95% of the total revenue and the subscription revenue is the remaining 5%. Coinbase reported an earnings per share of $6.42 for the quarter, beating analyst estimates. The total trading volume for the company was $462 billion for Q2 and the verified users on the platform stood at 68 million. That represents an 89% rise from the same period the previous year. Story continues The net revenue stood at $2.03 billion, which is a 1040% rise from the same quarter in the previous year. Coinbase enjoys an early mover advantage and it has made the process of crypto investing quick and simple for new investors. I believe 2021 will be the year for Coinbase and it will continue to report strong revenue numbers. As people continue to jump the crypto bandwagon, the company will see higher user growth. Massive Addresable Market Crypto investment has only begun and there is a long way to go. A lot of investors are not aware of the different crypto assets they can invest in, and Coinbase will enjoy the first-mover advantage. Currently, its revenue is sensitive to the price of BTC but it supports more than 80 crypto assets. As investment in crypto gains popularity, the platform will generate higher revenue and enjoy a wide user base. Interestingly, there has been a rise in the trading volume of other crypto assets in Q2. Bitcoin forms 24% of the trading volume, Ethereum (CCC: ETH-USD ) is 26% and the balance 50% are the other assets. The global crypto market has crossed $2 trillion and is expected to grow further. I believe Coinbase has the right platform and the potential to attract users and help them with crypto investment. The risks associated with crypto certainly apply to all investors but investing in COIN stock is an ideal way to diversify your portfolio. Whenever a crypto asset makes a strong move, investors will be drawn towards it and Coinbase will make money through the transaction. The Bottom Line on COIN Stock There is ample evidence that cryptocurrency is here to stay and it could become a major currency in the next five years. This will push COIN stock higher and it could hold a strong position in the market. It has made investment easier and enjoys several growth opportunities in the long term. Try to look at COIN stock without relating it to BTC, and you will see that the stock is a great investment. On the date of publication, Vandita Jadeja 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 . Vandita Jadeja is a CPA and a freelance financial copywriter who loves to read and write about stocks. She believes in buying and holding for long term gains. Her knowledge of words and numbers helps her write clear stock analysis. More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS Now Analyst Who Found Microsoft at $0.38 Names #1 Pick for the AI Boom America’s #1 EV Stock Still Flying Under the Radar The post Coinbase Stock Will Keep Benefitting From the Crypto Craze appeared first on InvestorPlace . || GOP Strategist Arrested for Underage Sex Trafficking: Photo Illustration by Elizabeth Brockway/The Daily Beast/Getty/Twitter Anton Lazzaro, a young Republican strategist and former congressional campaign manager in Minnesota, was arrested on underage sex trafficking charges Thursday morning, according to federal law enforcement. Lazzaro, an occasional Fox News guest who flaunted his wealthy lifestyle on social media, was indicted on five counts of sex trafficking of a minor, one count of attempting to do so, and three counts of obstruction of justice. The FBI confirmed its agents had arrested Lazzaro in Minneapolis this morning. And the indictment was unsealed in federal court Thursday afternoon during his initial appearance in federal court in St. Paul, Minnesota, which took place over a video conference. U.S. Magistrate Judge Becky R. Thorson ordered that Lazzaro remain jailed until a court hearing next week, after prosecutors claimed six victims had asked for additional protection from Lazzaro. Its their strong wish that the United States proceed with a recommendation of detention, Thorson said of the alleged victims. The indictment accuses Lazzaro of having recruited at least five underage victims for paid sex between May and December last year, and trying to entice a sixth. It also says he knowingly and intentionally interfered with the investigation as it closed in on him. The feds have yet to arrest a second person under investigation, who is mentioned as a co-conspirator in the indictment but not identified. The FBI raided Lazzaros luxury condo in mid-December last year, and agents had sought evidence concerning whom he had brought home into the Hotel Ivy residences in downtown Minneapolis, according to three sources who spoke on condition of anonymity. Law enforcement served the condo buildings management company with a search warrant seeking Lazzaros bank records and video surveillance footage a week before the raid, according to a person with direct knowledge. The search warrant appears in federal court records but remains sealed. The prosecutors working on this case did not return phone calls seeking further detail. Story continues When asked about the investigation last month, the U.S. Attorneys Office declined to provide any information about the matter. The FBI at the time would only confirm that it had conducted court-authorized law enforcement activity at that location this past December. In a phone conversation with this reporter last month, Lazzaro confirmed that his apartment had been searched in December but did not acknowledge the nature of the investigation, simply claiming that someone made a false accusation against me. There's no charges, no case, nothing political, he said, adding that the matter was regarding a totally unrelated incident that's now almost resolved, essentially. Bombshell Letter: Gaetz Paid for Sex With Minor, Wingman Says Lazzaro claimed that his defense attorney in this case had subcontracted the prominent lawyer Alan Dershowitz, a one-time Harvard Law School professor who has advised former President Donald Trump and ex-New York Mayor Rudy Giuliani. However, Dershowitz denied that to The Daily Beast. It's just not true, Dershowitz said. The 30-year-old entrepreneur served as the campaign manager for GOP candidate Lacy Johnson, who ran an unsuccessful bid in 2020 to unseat Democratic Rep. Ilhan Omar. Johnson told The Daily Beast that his former campaign manager never told him about the raid or the investigation. Johnson said Lazzaro never discussed his personal dating life. I dont know that side of Tony. Hes young, hes got money, and
that tends to attract females, Johnson said. Gaetz Paid Accused Sex Trafficker, Who Then Venmod Teen Johnson expressed dismay that he first heard details about the criminal probe from a journalist, as opposed to his trusted adviser. Johnson described first meeting Lazzaro at a statewide GOP caucus. He later launched his campaign with the younger political operative at his side in 2019. Federal election records list Lazzaros own political action committee, Big Tent Republicans PAC, as an affiliated organization of Johnsons campaign. Lazzaros PAC has funneled more than $22,000 to political committees in California, Minnesota, Michigan, and New Mexico, according to federal election records . Nearly half of the relatively small PAC is funded by Lazzaro himself , whom associates describe as a young investor with a particular interest in the digital currency Bitcoin. Lazzaro has cast himself as a next-generation Republican with more modernized views, as he told Minnesotas Star Tribune last year. On his website, Lazzaro says his PAC looks to redefine the Republican Party specifically to minority, LGBT, and women who he acknowledges have been neglected by his own party. via AntonLazzaro.com He has donated to Republicans for nearly a decade, but his contributions have ramped up sharply since 2016. His personal website shows him alongside Trump and Vice President Mike Pence, as well as multiple television appearances on Fox News. On social media , Lazzaro shows himself sitting on private jets, waving stacks of cash, and driving shirtless in his red Ferrari. Last year, he was on the shortlist of Minnesotas presidential electors for the Republican Party as an alternate who could substitute for any missing delegates, according to state election records . In a brief interview in July, Lazzaro claimed The Daily Beast had intercepted information about the case it should not have received and threatened to sue this reporter. Lazzaro revealed that he secretly recorded the phone call and asserted that he would buy the domain name JosePaglieryNews.com to release audio of the call. After the interview, Lazzaro sent an email with a screenshot indicating he had already purchased six similar domains with that intent. There's nothing to this case. It's not some Matt Gaetz or whatever you think this is, he said. via AntonLazzaro.com His Dallas-area defense attorney, Zachary L. Newland, declined to provide details about the alleged sex crime being investigated or the ongoing discussions with federal prosecutors. In mid-July, he told The Daily Beast that his legal team is still in the dark because it had yet to receive copies of law enforcement paperwork explaining what agents have found. Newland did not immediately respond to requests for comment on Thursday. But in an earlier interview, he had said, We look forward to clearing Mr. Lazzaro's name
I think he's innocent. They don't have a provable case here. Read more at The Daily Beast. Get our top stories in your inbox every day. Sign up now! Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more. || Dogecoin’s Highs and Lows: Is It Still Worth an Investment?: If you’re bored with index funds and you’re ready to roll the dice on one of those sexy and mysterious new alternative investments,you have plenty of options. One of those options involves a Japanese dog, Elon Musk and what appears to be fake money from a toy cash register.
Read:How Does Cryptocurrency Work – and Is It Safe?Find Out:Where Does Cryptocurrency Come From?
That’s Dogecoin (DOGE), and it’s here to rescue anyone who couldn’t bear to wait one second longer for the latest next-big-thing cryptocurrency that promises to out-Bitcoin Bitcoin.
Dogecoin is a joke — or at least it started out as one. Two software engineers — IBM’s Billy Markus and Adobe’s Jackson Palmer — created Dogecoin in 2013 to lampoon all the altcoin wannabes that popped up after Bitcoin rose to blockchain fame. As a logo, they chose a Shiba Inu from a meme called Doge, which went viral that same year.
The Economy and Your Money:All You Need To Know
Like Bitcoin and all cryptocurrency, Dogecoin is:
• Decentralized — it’s not issued or backed by a government or bank
• “Mined” independently and recorded on a blockchain
• Anonymous — privacy is part of the reason crypto is so popular
Unlike Bitcoin and other “deflationary” cryptocurrencies that exist in limited quantities, there is no cap on “inflationary” Dogecoin.
It started as tech-geek satire, but Palmer and Markus were skilled, experienced and imaginative professionals. Their blockchain, proof-of-work process and minting procedures were stable, efficient and secure. Crypto wonks recognized its potential and the fake currency began amassing a very real following.
More Economy Explained:Ethereum (ETH): What It Is, What It’s Worth and Should You Be Investing?
It already had achieved cult status by the time Tesla CEO Elon Musk startedtweeting about Dogecoin in 2021. The props from Musk made Dogecoin a household name and sent its value soaring. It’s now one of the most-used altcoins, particularly for tipping on social media.
Investors who are put off by the $36,000-plus asking price of a single Bitcoin will be happy to know that comparatively, Dogecoin trades at a bargain.As of March 19, Dogecoin was trading at $0.0585 per coin.But as of May 4, the price was up to $0.53, according to CoinDesk — a huge increase for people who had already bought in. It has since dropped down to $0.23, as of June 23 — still a big increase if you bought way back when.
Find Out:Why Some Money Experts Believe In Bitcoin and Others Don’t
If you’re reading a basic primer like this, you’re probably better off sticking with your ETF until you learn the ropes. Investing in crypto is not like buying shares of Walmart or UPS. First, it’s incredibly volatile. Wild price swings that would make the common investor queasy are par for the course.
The way that cryptocurrency is generated, distributed, validated and accounted for is completely foreign even to most tech-savvy investors. It’s not backed by any bank, government or corporation, and despite the fact that it feels like everyone’s talking about it, crypto is still a highly experimental niche concept that the vast majority of people know almost nothing about and are nowhere near adopting.
Read:How To Invest In Cryptocurrency: What You Should Know Before Investing
There’s a steep learning curve to investing in cryptocurrency. It requires immersion. If you’re just recently hearing about Dogecoin, it’s probably best to invest time in research before you invest a single dollar in an imaginary coin adorned with a picture of a smiling dog.
This article is part of GOBankingRates’ ‘Economy Explained’ series to help readers navigate the complexities of our financial system.
GOBankingRates’ Crypto Guides
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Last updated: June 23, 2021
This article originally appeared onGOBankingRates.com:Dogecoin’s Highs and Lows: Is It Still Worth an Investment? || AMC to Accept Bitcoin for Tickets and Concessions Later This Year: AMC Entertainment Holdings, which runs the largest movie theater chain in the U.S., will begin accepting bitcoin payments for tickets and concessions by the end of the year, the company’s CEO, Adam Aron, said on a second-quarter earnings call Monday. “We are also in the preliminary stage of now exploring how else AMC can participate in this new burgeoning cryptocurrency universe and we’re quite intrigued by potentially lucrative business opportunities for AMC if we intelligently pursue further serious involvement with cryptocurrency,” Aron said. AMC did not specify what technology it would use to process the payments. The company has 593 theaters in the U.S. and 335 international locations. Related: Human Rights Foundation, Compass Mining Give $80K to Sponsor Bitcoin Developer Aron said that AMC will also begin accepting Apple Pay and Google Pay payments by the end of 2021. AMC’s stock was trading at roughly $33 Monday morning. After the earnings release, the stock jumped 13.2% before falling to about $35 at the time of publication. During the Reddit-driven retail trading frenzy earlier this year, so-called “ meme stocks ” like GameStop and AMC soared in value. AMC’s pivot to bitcoin payments suggests the struggling movie theater chain sees value in cryptocurrencies. Related Stories Bitcoin Upside Stalls; Lower Support at $38K-$40K Bitcoin Breaks Key Resistance as Market Health Improves on Institutional Demand Institutional Investors Return to Bitcoin Despite US Crypto Tax Plans || CFTC Commissioner Stump Decries Oversimplification That Crypto Is Either a Security or Commodity: The U.S. top commodities regulator primarily oversees derivatives markets, rather than spot commodity markets, Dawn Stump, a commissioner at the Commodity Futures Trading Commissions (CFTC), said Monday. Stump, who was appointed by then-President Donald Trump in 2018, joined a growing group of regulators debating which federal agency should regulate the booming digital asset market in the United States. In her statement , Stump described a grossly inaccurate oversimplification that digital assets are either securities or commodities that fall under the jurisdiction of the CFTC. If they are deemed to be securities, they would be regulated by the U.S. Securities and Exchange Commission. Related: Digital Yuan Used in China’s Domestic Futures Market for First Time: Report Because the CFTC doesnt regulate commodities themselves only futures contracts or derivative products like swaps Stump said it doesnt matter whether digital assets are classified as securities or commodities, because they wouldnt fall under the authority of the CFTC unless a futures or derivatives contract was involved. Earlier this month, SEC Chairman Gary Gensler said that his agency should regulate a broader segment of the crypto market, including possibly spot market and exchanges that list any cryptocurrencies that fall under securities law. In response, crypto-friendly CFTC Commissioner Brian Quintenz tweeted that the SEC has no authority over pure commodities or their trading venues implying that responsibility belongs to the CFTC. In her statement Monday, Stump also explained the difference between the CFTCs regulatory authority, which Stump said doesnt apply to digital assets, and its broader enforcement authority, which Stump suggested does. Using the CFTCs case against crypto exchange and derivatives trading platform BitMEX as an example, Stump said the agency has historically used its anti-manipulation and anti-fraud enforcement authority to protect cash commodities. Story continues Because well-functioning futures contracts (and other derivatives products) rely upon a sound underlying cash market and may reference cash market indexes in their pricing. Thus, the CFTC utilizes this particular enforcement authority to protect the integrity of the derivatives markets that it regulates, Stump wrote . Related Stories Eurex to Launch Bitcoin ETN Futures to Meet Significant Demand Crypto Booster Brian Quintenz to Step Down as CFTC Commissioner Congressmen McHenry, Thompson Call SEC Chair Genslers Remarks on Crypto Concerning || What Happens to Social Security When You Die?: The end of a person’s life doesn’t necessarily mean the end of their social security payments. Depending on factors like income and dependents,social security checks will still be issuedto someone else even after the original recipient passes away.
See:The Biggest Problems Facing Social SecurityFind:Can You Afford To Die in Your State?
According to the Social Security Administration website, if you work and pay into Social Security, part of those taxes go toward survivor benefits, which means your surviving spouse, children and even parents could be eligible for payments based on your earnings.
Likewise, you and your family could be eligible for benefits based on the earnings of someone else who died — as long as the deceased worked long enough to qualify for benefits.
If you have no survivors or dependents, the payments simply cease.
Whenever someone dies, the Social Security office should be notified immediately. This is usually handled by the funeral home, which sends in a form called Statement of Death by Funeral Director.
If that doesn’t happen, you’ll have to call the SSA — you cannot report a death or apply for survivor benefits online. If you need to report a death or apply for survivor benefits, call 1-800-772-1213 (TTY 1-800-325-0778) between 8 a.m. and 7 p.m. Monday through Friday.
You’ll need to provide the deceased person’s social security number when applying. In the event of your death, your survivor will need to provide your social security number. The executor of the estate can also call Social Security, CNBC reported.
Here are some things to remember for those getting benefits on a spouse’s or parent’s record, according to the SSA:
• Social Security will automatically change any monthly benefits received to survivors’ benefits after it receives the report of death.
• The agency might be able to pay a Special Lump-Sum Death Payment automatically.
• One thing to keep in mind is that no social security benefits are due for the month of a person’s death.
“Any benefit that’s paid after the month of the person’s death needs to be refunded,” Peggy Sherman, a certified financial planner and lead advisor at Briaud Financial Advisors in College Station, Texas, told CNBC.
See:What Happens to Your Bitcoin When You Die?Find:Key Points COVID-19 Long-Haulers Need to Know About Applying for Social Security
Meanwhile, if your spouse or qualifying dependent were already getting money based on your record, that benefit will auto-convert to survivors benefits when the government gets notice of your death.
If the surviving spouse has already reached their own full retirement age, they can get their deceased spouse’s full benefit. You can apply for reduced benefits as early as age 60 — or age 50 if disabled —which is a couple of years earlier than the standard earliest claiming age of 62.
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This article originally appeared onGOBankingRates.com:What Happens to Social Security When You Die? || Sweden’s Government Forced to Return $1.5M in Bitcoin to Drug Dealer: Report: The Swedish government has been forced to return over $1.5 million inbitcointo a drug dealer after its value surged while he was in custody.
• Authorities in Sweden seized 36 BTC from the drug dealer, worth just under $150,000 at the time of his prosecution two years ago, according to areportFriday by U.K. newspaper The Telegraph.
• By the time the Swedish Enforcement Authority came to auction off the bitcoin, its value had appreciated to the extent that only three needed to be sold for the original value to be recouped.
• The authority must now return the remaining 33 bitcoin to the drug dealer, which prosecutor Tove Kullberg has described as “unfortunate.”
• “The lesson to be learned from this is to keep the value in bitcoin, that the profit from the crime should be 36 bitcoin, regardless of what value bitcoin has at the time,” Kullberg said.
• Poly Network Attacker Threatens to Delay Return of Funds
• Poly Network Hack Not Over as Attacker Prolongs Return of Funds
• Russia’s Financial Monitoring Agency Wants to Identify and Profile Crypto Users
• US Marshals Service Chooses Anchorage Digital for Custody of Seized Digital Assets
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 42839.75, 42716.59, 43208.54, 42235.73, 41034.54, 41564.36, 43790.89, 48116.94, 47711.49, 48199.95
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2021-08-26]
BTC Price: 46942.22, BTC RSI: 56.10
Gold Price: 1792.20, Gold RSI: 51.18
Oil Price: 67.42, Oil RSI: 47.52
[Random Sample of News (last 60 days)]
Upbit Is First Korean Exchange to Register With Authorities Before September Deadline: Crypto exchange Upbit was the first to register with South Korea’s Financial Intelligence Unit (FIU) before a September deadline, the FIU website posted on Friday. Doh Gyu-sang, vice chairman of the Financial Services Commission, expects one or two more exchanges will register before the end of August, local media reported Friday. Authorities have threatened to block the websites of unregistered exchanges that fail to meet the Sept. 24 deadline. Registration has several requirements, including setting up partnerships with banks to obtain accounts for real-name verification. While other exchanges are reportedly having difficulty persuading banks to work with them, Upbit, South Korea’s largest exchange, already has a partnership with online-first K-bank for real-name verification. Bithumb, Coinone and Korbit also have such partnerships, and so they likely will be the next ones to register. Foreign exchanges are also under the microscope. The FIU has called on them to register as well if they provide services to South Korean consumers. Binance limited its exposure to the market on Aug. 13, when it stopped offering trading pairs and payment options with the South Korean won. Last week, Upbit’s local operator Dunamu rolled out a product for compliance with the intergovernmental Financial Action Task Force’s “ travel rule ” in Singapore. The FIU will review Upbit’s filing within three months, local media reported. Related Stories Cuando China habló, bitcoin reaccionó. ¿Cuando lo hizo Estados Unidos? No tanto Crypto Trading Isn’t Protected by Law, Shandong Province High Court Says Crypto Long & Short: When China Spoke, Bitcoin Reacted. America? Not So Much Binance Tightens Customer Verification Requirements || Dogecoin Mining 2021: Everything You Need to Know: Dogecoin’s incredible start to the year has attracted record numbers of miners to its network. But how easy is it to minedogecoinand what do you need to get involved?
Dogecoin has come a long way since its modest beginnings as ajoke cryptocurrencycentered around a viral internet meme of a Shiba Inu “doge.” What was once a parody project purposefully created by software engineers Jackson Palmer and Billy Markus to be “as ridiculous as possible,” is now a top ten crypto asset boasting a $32 billion market capitalization and a global fanbase.
Dogecoin’s spectacular rise over the first half of 2021, driven largely by internet pop culture and relentless promotion from Tesla CEO Elon Musk, has unsurprisingly reignited significant interest in dogecoin mining as mining profitability spikes to a newsix-year high.
Related:Dogecoin Sees Uptick After Elon Musk Tweet Supporting Fee-Change Proposal
Even with its recent success, mining dogecoin is still significantly less competitive than miningbitcoin(but still difficult). New blocks are also discovered much faster and coin rewards are substantially higher – 10,000 DOGE per block reward vs 6.25 BTC.
Dogecoin’s blockchain network employs the same system for adding new blocks to its decentralized ledger and reaching agreement among its network participants as bitcoin,litecoinand many other cryptocurrencies.
Known as a “Proof-of-Work” mechanism, this process involves “mining” where individuals or organizations compete for the right to add new blocks containing pending transactions to the blockchain ledger using specialized computer equipment.
More specifically, miners use their machines to try and create a fixed length code known as a “hash” with a value that is equal to or lower than the target value of the new block, known as the “target hash.” Whoever creates the winning code earns the exclusive right to add new transaction data to the next block in the chain and is rewarded with newly minted coins for doing so.
Related:3 Reasons Why China’s Bitcoin Crackdown Isn’t All That Bad
Each hash generated is completely random so it’s simply a process of trial and error until one miner wins.
Here is how dogecoin mining compares to bitcoin and litecoin mining (as of June 2021):
As a rule, PoW blockchains such as bitcoin and litecoin usually have a predetermined supply of locked coins that have to be mined in order for them to be added to the circulating supply (21 million and 84 million, respectively). Think of it as being like actual mining and how precious gems or gold have to be physically mined before they can enter the market.
Unlike a vast majority of cryptocurrencies, however, dogecoin doesn’t have a maximum supply cap. Its circulating supply will continue to increase indefinitely over time as miners unlock new coins.
New blocks are discovered approximately once every minute on the Dogecoin network. For comparison, Bitcoin blocks are discovered approximately once every 10 minutes.
Despite using the same Proof-of-Work system, dogecoin mining operates slightly differently than bitcoin.
Bitcoin, which is the oldest and largest cryptocurrency by market cap, uses a hashing algorithm called SHA-256. This might sound complicated but a hashing algorithm is simply a function that generates a fixed-length code using a certain technique. Think of it as random code generators, where each hashing algorithm creates random codes in a unique way.
Dogecoin and litecoin use a hashing algorithm called Scrypt, which is less complex than SHA-256. This makes mining litecoin and dogecoin much faster and less energy intensive than bitcoin.
The use of a common algorithm enabled Dogecoin and Litecoin mining to be “merged mined”, meaning both coins can be mined simultaneously without impacting operational efficiency. The two share a common algorithm because dogecoin’s design is based on luckycoin, which in turn was derived from litecoin.
In its early years, mining dogecoin was much easier because very few people participated in the network. This meant anyone could mine the coin individually. However, as the popularity of DOGE increased, the mining process became more difficult, prompting miners to come together and form “mining pools.”
A mining pool is a group of individual miners who mine the cryptocurrency as a single entity, or node, by merging their computing power. The rewards are then distributed among pool participants proportionally by the amount of computer power committed by each miner.
Today, there are three main approaches to mining dogecoin:
• Individual mining/solo mining
• Mining pools
• Cloud mining
For anyone looking to mine DOGE for fun or simply to understand the process, it can be done independently using a GPU through a software like EasyMiner, for example. The GPU (graphics processing unit) is a specialized processor that renders all images on a computer’s screen, and many laptops and desktop computers use it to improve image processing.
However, mining alone can be a difficult process and is rarely profitable unless one is willing to shell out significant sums of money on top-spec equipment and electrical bills.
For crypto enthusiasts interested in trying to make a profit from doge mining, joining a mining pool is usually recommended and provides a much better chance of becoming a block validator due to the collective hashing power of the pool. But before jumping into a mining pool, be ready to pay 1%-3% in fees for the privilege to participate and always check in advance how each pool calculates payouts for its members.
Popular dogecoin mining pools in 2021 include:
• Multipool
• Prohashing
• AikaPool
Dogecoin can also be earned through cloud mining, which is not really mining per se. Cloud mining basically involves renting computing power from a data center and paying a monthly or annual fee based on an agreed-upon contract. The chosen coin is then mined at the center via a mining pool and then shared with you based on how much computing power you pay for.
The main drawback of cloud mining is that most contracts are time-locked, meaning you can lose money if DOGE prices drop below the operational and electrical costs associated with mining it.
Nevertheless, this can also be just as effective as joining a mining pool and does not require the user to own any specialist equipment. Anyone opting for the cloud mining route simply needs a dogecoin wallet.
Popular cloud mining pools that support DOGE include:
• Genesis Mining
• Nicehash
For individuals interested in mining dogecoin solo or via a mining pool, there’s a range of equipment needed in order to get started.
There are three types of hardware equipment you can use for DOGE mining:
• CPU– your PC’s central processing unit might be an option even today, but it is not really recommended because it can cause damage to your computer by overheating it.
• GPU– a graphics processing unit is more powerful than a CPU and can be used to mine dogecoin.
• ASIC– an application-specific integrated circuit is a computing machine built specifically to generate hashes. ASICs are far more powerful than GPUs and, unsurprisingly, more expensive. Anyone planning to buy an ASIC should look specifically for a Scrypt-based ASIC miner.
Once you’ve decided which type of hardware to use, you’ll also need to download software to accompany it. Here are some of the leading software options available at the moment:
• CPU –CPU minerby Pooler.
• GPU –EasyMineris great for beginners,CudaMinerworks best with Nvidia GPUs, whileCGminerdoes well with all types of GPUs.
• ASIC – CGminer and EasyMiner can be used with ASICs as well, but most ASIC miners useMultiMiner.
A dogecoin wallet is essential for mining and provides a secure place to receive any dogecoin rewards generated from mining. A crypto wallet consists of a public key address for sending and receiving DOGE and a private key to access it. The latter has to be kept secure and not shared with anyone. There are several types of wallets, such as:
• Online: Anyone mining for fun can opt to use an online wallet such as Coinbase or Binance. These aren’t as secure as other wallet options but are much more convenient to use.
• Software: Software wallets reside on your PC or mobile device rather than online, which makes them more secure. You can download the originaldogecoin walletor use third-party software wallets.
• Hardware: Hardware wallets are regarded as the most secure solution for storing crypto assets. These are physical devices similar to a USB stick that store crypto offline.Leading hardware wallets include theLedger Nano SandTrezor Model T.
It’s worth noting, good access to electricity and an internet connection are essential for mining any cryptocurrency. If you opt for ASIC mining, it’s recommended that rigs be kept in a cool and isolated place to prevent overheating and disturbing neighbors with the noise.
Well, dogecoin mining can still be profitable, especially thanks to the recent price surge. However, don’t expect to become a millionaire. Having powerful hardware and joining a pool will give you the best possible chance of making a profit from doge mining. If you’re interested in finding out how much you could make (approximately) per month, there’s a dogecoin miningcalculatoryou can use.
• Market Wrap: Bitcoin Slides to Two-Week Low, Ether to Below $2K as China Reiterates Crypto Ban
• Dogecoin-Branded NASCAR Crashes as Badly as DOGE || US Sanctions Bitcoin Address Belonging to Suspected Syria-Based Terrorist Fundraiser: U.S. regulators have sanctioned abitcoinaddress belonging to a suspected fundraiser for a Syrian militant group.
Farrukh Furkatovitch Fayzimatov, 26, a citizen of Tajikistan, has been designated a terrorist fundraiser and recruiter by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC).
Fayzimatov uses social media to recruit members, disseminate propaganda and solicit donations for Hay’et Tahrir Al-Sham (HTS), a militant group involved in the Syrian civil war. according to a Treasury Departmentpress release. Fayzimatov reportedly organized community fundraising campaigns to purchase equipment for HTS, including motorbikes.
Related:Presidential Advisory Group Promises Stablecoin Recommendations
The first time the Treasury Department added crypto addresses to its list of sanctioned individuals was in2018, and since then, doing so has become a routine part of OFAC’s designations of internationaldrug dealers,RussianandNorth Koreanhackers andterroristfundraisers.
Thewalletbelonging to Fayzimatov has made 24 transactions on the bitcoin blockchain. The wallet, which is now empty, received and sent about 0.25 BTC in total.
• US Presidential Advisory Group to Discuss Stablecoins
• Israeli Seizure Order Shows Hamas Holds USDT, TRX, DOGE
• FATF Report on Extreme Right Financing Highlights Cryptocurrency Use || Let The Games Begin: How You Can Participate In Competitions On The Blockchain: The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
Whether you’re a beginner or an expert investing in the cryptocurrency market, diversifying your portfolio properly to get the best bang for your buck can be challenging. Not only do you have to account for volatility in the market, but you have to balance your digital assets and align them with traditional holdings in your portfolio.
In the traditional market alone, you can seek help with asset management that you can’t usually find in the crypto world. But there are companies likeInvictus CapitalandSolStreetwho are paving new ways to navigate the digital landscape and accomplish your goals. And in celebration of bringing a whole new crypto asset management protocol to investors on the Solana blockchain, SolStreet is running a series ofexciting competitionscalledMoney Never Sleepsto spice up its launch.
Early User Access
The competitions — taking place on the devnet where no real cash is at stake — are open to investors as well as fund managers, giving early users a peek into the SolStreet protocol’s special features and functions. Participants can build a portfolio usingcrypto assetslike Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE). The top 500 performers participating have a chance to win rewards in the following categories:
• Best overall return on investment (ROI)
• Best Sharpe ratio
• Most individual investor (fund managers only)
Keep in mind that the protocol's point is to give everyone the chance to launch a decentralized investment fund directly to the Solana blockchain. The SolStreet plan also gives these investors access to successful strategies while keeping costs low with minimal transaction fees. Healthy competition gives investors the opportunity to explore while learning and a chance to earn prizes, too.
What Do You Win?
The top performers in each contest will win a share of the protocol’s 1 million STRT tokens being made available for the competition. This represents an estimated $600,000 in value. Not only can you win these tokens, but investors have the chance to own STRT before it becomes available to the general public. In addition to the cryptocurrency, the winner of each category will get to own a one-of-a-kind SolStreet non-fungible token (NFT).
Note that as the competitions approach, SolStreet will release more details regarding the exact prize distribution. So, keep an eye out for more information.
You Have To Play To Win
To have a chance at these fantastic prizes and up your crypto investment game in the meantime, you have to register andparticipate. The Wolf of SolStreet competition registration deadline is August 2, 2021, so be sure to put your hat in the ring today and join the fun.
Photo byCHUTTERSNAPonUnsplash
The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 10 Best Roth IRA Stocks Hedge Funds are Buying: In this article, we discuss the 10 best Roth IRA stocks hedge funds are buying. If you want to skip our detailed analysis of these stocks, go directly to the 5 Best Roth IRA Stocks Hedge Funds are Buying . Roth IRA accounts have been making headlines across the finance world over the past few weeks after non-profit news platform ProPublica released a report detailing how billionaire investor Peter Thiel had transformed a less than $2,000 Roth IRA investment into a $5 billion tax-free retirement plan. The report also highlighted other important figures on Wall Street that had used the benefits offered by Roth IRA accounts, including titans like Ted Weschler, Warren Buffett, and Randall Smith, among others. Roth IRA accounts intend to incentivize savings by offering the average citizen tax-free growth and withdrawals during retirement provided certain conditions are met after the account is opened and savings deposited. These accounts have been around for more than two decades and offer modest growth in savings, as an average Roth IRA account offers annual returns of 7-10%. If investors can commit to a handsome amount in savings every month, these accounts offer the best possible retirement savings plan for Americans. Some of the popular Roth IRA stocks that hedge funds are piling into these days include Microsoft Corporation (NASDAQ: MSFT ), Amazon.com, Inc. (NASDAQ: AMZN ), and The Walt Disney Company (NYSE: DIS ), among others. These firms weathered the pandemic and are well-poised to take advantage of the post-pandemic economic recovery. The long-term outlook on the earnings of these firms is also positive, with most analysts bullish on the stocks. They offer solid growth potential as well, incentivizing savings through Roth IRA accounts. According to a report by the Tax Policy Centre, close to 44 million households in the United States owned an IRA in 2017, highlighting the popularity of these accounts in the country. Of these, Roth IRAs were the second most popular account choice, with at least 19% of all households in the nation owning such an account. The pandemic-related problems have served to highlight the importance of savings and more people in the US are now lining up open Roth IRAs. Hedge funds are also jumping on the bandwagon. Story continues 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. Image by pasja1000 from Pixabay With this context in mind, here is our list of the 10 best Roth IRA stocks hedge funds are buying. Our Methodology The stocks in this list are usually recommended by market experts and analysts for Roth IRA. These stocks are also very popular among the 866 hedge funds tracked by Insider Monkey as of the first quarter of 2021. We ranked these stocks based on the number of hedge funds having stakes in them, from smallest to largest. Best Roth IRA Stocks Hedge Funds are Buying 10. Shopify Inc. ( NYSE: SHOP ) Number of Hedge Fund Holders: 91 Shopify Inc. (NYSE: SHOP) is placed tenth on our list of 10 best Roth IRA stocks hedge funds are buying. The stock has offered investors returns exceeding 44% over the course of the past twelve months. Shopify Inc. (NYSE: SHOP) owns and operates an ecommerce platform. The firm recently announced the purchase of Primer, a platform that uses augmented reality technology to market home design services. The share price of the online retailer jumped by close to 1% after the announcement was made. On June 30, investment advisory Loop Capital maintained a Buy rating on Shopify Inc. (NYSE: SHOP) stock and raised the price target to $1,600 from $1,400, highlighting that the revenue sharing model change would attract more partners to the ecommerce firm. Out of the hedge funds being tracked by Insider Monkey, Connecticut-based investment firm Lone Pine Capital is a leading shareholder in Shopify Inc. (NYSE: SHOP) with 1.7 million shares worth more than $1.8 billion. Just like Microsoft Corporation (NASDAQ: MSFT ), Amazon.com, Inc. (NASDAQ: AMZN ), and The Walt Disney Company (NYSE: DIS ), Shopify Inc. (NYSE: SHOP) is one of the best Roth IRA stocks hedge funds are buying. In its Q4 2020 investor letter, RGA Investment Advisors, an asset management firm, highlighted a few stocks and Shopify Inc. (NYSE: SHOP ) was one of them. Here is what the fund said: “While we are pleased with the results of these specific purchases, we made a huge mistake of omission at that time. This mistake will likely be one of the biggest we ever make in our careers. Specifically, we did deep work on Shopify and loved everything about the business qualitatively. Unfortunately, we ultimately found ourselves unable to get comfortable with the numbers. We built our model up from the key performance indicators (KPIs) that drive revenues. Our last save of the model dated 8/3/2016 looked as follows: (Page 2). These numbers seemed right from everything we understood about the company. While we tend not to rely on sell-side consensus estimates before finishing our own workup of the business, we do give them a look once we feel comfortable with how we have approached our analysis as it is often helpful to get a sense of what the average participant in the market expects the business to do. With Shopify, the sell-side consensus was so far from where our numbers were shaking out, it seemed almost impossible that we were basing our analysis on the same underlying information. Our natural next step was thus to take the sell-side consensus data and work backwards to figure out the implied expectations on each of the key revenue drivers. Here is what the sell-side consensus looked like as at the time: (Page 2). Shopify’s actual revenues for 2016-2018 ended up being $389m, $673m and $1,073m. In other words, not only were we justifiably far more optimistic than the consensus estimate, but we also were far too conservative in terms of how the company actually performed. The nature of our job as securities analysts is to take calculated risks, in an uncertain world where the “true” answer is inherently unknowable before the fact. We operate in what many call an “efficient market” and subscribe to the belief that for the most part, markets are generally pretty efficient and it requires differentiated analysis to find a return above what the market can offer. So why did we pass on Shopify despite 1) deeply believing in the qualitative elements of the business; and, 2) seeing a meaningful gap between what we expected and the consensus expected? The answer is unfortunate but simple: we lacked confidence in ourselves. It was the first time we truly experienced such a stark divergence between our expectation and the consensus and the result was the inclination was to pound ourselves over the head with how dumb we must be, rather than the other way around. We also learned that the truly great companies use their strong business advantages, smart management and execution to raise the bar every step along the way. Obviously this is a cycle which cannot continue ad infinitum, but especially in instances where our qualitative work identifies the inherent strengths in the business and the numbers shake out to be quite fair, the consistent “raising of the bar” can be a potent driver for the stock. Please do not judge us too harshly for our mistake on Shopify, for we have from the very beginning made one commitment above all else to both our clients and ourselves: that we will be better today than we were yesterday, and better tomorrow than we are today. While this mistake was quite costly, it ended up being a key confidence and process builder.” 9. Bank of America Corporation ( NYSE: BAC ) Number of Hedge Fund Holders: 97 Bank of America Corporation (NYSE: BAC) is a North Carolina-based financial services firm. It is placed ninth on our list of 10 best Roth IRA stocks hedge funds are buying. The company’s shares have offered investors returns exceeding 56% over the course of the past year. On July 16, news platform CoinDesk reported that the bank, the second largest in the US, had allowed some clients to trade in Bitcoin, the most popular cryptocurrency. The policy shift marks a key milestone for the crypto industry that is reeling from price volatility. On July 6, investment advisory Keefe Bruyette initiated coverage of Bank of America Corporation (NYSE: BAC) stock with a Market Perform rating and a price target of $40, underling that the outlook on large-cap banks was positive despite price volatility in macro trade. At the end of the first quarter of 2021, 97 hedge funds in the database of Insider Monkey held stakes worth $45 billion in Bank of America Corporation (NYSE: BAC), down from 99 in the previous quarter worth $35 billion. Alongside Microsoft Corporation (NASDAQ: MSFT ), Amazon.com, Inc. (NASDAQ: AMZN ), and The Walt Disney Company (NYSE: DIS ), Bank of America Corporation (NYSE: BAC) is one of the best Roth IRA stocks hedge funds are buying. 8. Adobe Inc. ( NASDAQ: ADBE ) Number of hedge fund holders: 107 Adobe Inc. (NASDAQ: ADBE) stock has returned 32% to investors over the past year. It is ranked eighth on our list of 10 best Roth IRA stocks hedge funds are buying. Adobe Inc. (NASDAQ: ADBE) markets software for several creative professionals, including animators, digital artists, and photographers. The firm posted earnings for the second fiscal quarter on June 17, reporting earnings per share of $3.03, beating market estimates by $0.21. The revenue over the period was $3.8 billion, up 22% year-on-year. On June 18, investment advisory JP Morgan maintained an Overweight rating on Adobe Inc. (NASDAQ: ADBE) stock and raised the price target to $660 from $595, noting the positive earrings results for the firm in the second quarter and the strength of products. Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Adobe Inc. (NASDAQ: ADBE) with 5.9 million shares worth more than $2.8 billion. In addition to Microsoft Corporation (NASDAQ: MSFT ), Amazon.com, Inc. (NASDAQ: AMZN ), and The Walt Disney Company (NYSE: DIS ), Adobe Inc. (NASDAQ: ADBE) is one of the best Roth IRA stocks hedge funds are buying. Here is what Polen Capital has to say about Adobe Inc. (NASDAQ: ADBE ) in its Q1 2021 investor letter: “Adobe and Autodesk are both prime examples of the rotation that occurred during the quarter. Both are dominant businesses in their respective markets, which are experiencing structural tailwinds. Despite each business’s position of strength, the stocks of cyclicals and businesses with higher leverage and lower profitability were more favored this past quarter. In stark contrast, Adobe and Autodesk both have low leverage, high levels of profitability, high recurring revenues that mitigate cyclicality, and are both capital-light business models—all attributes we appreciate as investors. Adobe and Autodesk were also two of the top three performers within the Portfolio during 2020.” 7. Berkshire Hathaway Inc. ( NYSE: BRK-A ) Number of Hedge Fund Holders: 111 Berkshire Hathaway Inc. (NYSE: BRK-A) is placed seventh on our list of 10 best Roth IRA stocks hedge funds are buying. The company’s shares have returned 43% to investors over the past twelve months. The firm operates as a holding company with interests in the insurance, commodities, and finance businesses. Berkshire Hathaway Inc. (NYSE: BRK-A) has recently ignited speculation around the purchase of chocolate-maker Hershey after a plane belonging to the chocolate firm was spotted in Omaha, the headquarters of Warren Buffett, the chief of the holding company. On June 8, news publication The Wall Street Journal reported that Berkshire Hathaway Inc. (NYSE: BRK-A) had agreed to purchase a stake worth $500 million in Nu Pagamentos SA, a Brazilian fintech firm as part of a plan to expand reach in the sector. At the end of the first quarter of 2021, 111 hedge funds in the database of Insider Monkey held stakes worth $19 billion in Berkshire Hathaway Inc. (NYSE: BRK-A), up from 110 in the preceding quarter worth $20 billion. Berkshire Hathaway Inc. (NYSE: BRK-A) is one of the best Roth IRA stocks hedge funds are buying, just like Microsoft Corporation (NASDAQ: MSFT ), Amazon.com, Inc. (NASDAQ: AMZN ), and The Walt Disney Company (NYSE: DIS ). In its Q1 2021 investor letter, Vltava Fund, an asset management firm, highlighted a few stocks and Berkshire Hathaway Inc. (NYSE: BRK-A ) was one of them. Here is what the fund said: “Despite the considerable rise in stock markets over the past year, there are still many attractive opportunities. Human nature also is playing a bit into our hands. Investor crowds often chase popular stocks, hot IPOs, or mysterious SPACs and completely leave aside stocks they consider boring and not sexy enough. A typical example of this category is our long-term largest position in Berkshire Hathaway. Since we bought it for the first time, its price has nearly quadrupled and yet it remains just as undervalued today as it was at that time. Considering the current rate at which it is buying back its own shares and the amount of cash that Berkshire Hathaway has, my greatest wish as a shareholder is for the company’s share price to remain as low as possible for as long as possible.” 6. Apple Inc. ( NASDAQ: AAPL ) Number of Hedge Fund Holders: 127 Apple Inc. (NASDAQ: AAPL) stock has returned 44% to investors in the past year. It is ranked sixth on our list of 10 best Roth IRA stocks hedge funds are buying. The company is based in California and has interests in a wide range of technology-related businesses, including the making and selling of premium electronic devices. On July 14, investment bank JP Morgan noted that the outlook for the future sales of Apple Inc. (NASDAQ: AAPL) products were strong and the company was in line to outperform investor expectations in the long run. On July 19, investment advisory Deutsche Bank maintained a Buy rating on Apple Inc. (NASDAQ: AAPL) stock with a price target of $165, noting that the share price had room to climb higher considering strong business momentum. At the end of the first quarter of 2021, 127 hedge funds in the database of Insider Monkey held stakes worth $130 billion in Apple Inc. (NASDAQ: AAPL), down from 146 in the preceding quarter worth $142 billion. Apple Inc. (NASDAQ: AAPL) is one of the best Roth IRA stocks hedge funds are buying, alongside Microsoft Corporation (NASDAQ: MSFT ), Amazon.com, Inc. (NASDAQ: AMZN ), and The Walt Disney Company (NYSE: DIS ). In its Q1 2021 investor letter, Distillate Capital , an asset management firm, highlighted a few stocks and Apple Inc. (NASDAQ: AAPL ) was one of them. Here is what the fund said: “Apple is an even more notable situation and one that highlights our free cash valuation methodology and bears further discussion given its Q3 ‘20 sale from our strategy. For an extended period, Apple was extraordinarily inexpensive on a free cash flow basis and was the largest position in our strategy, exceeding 5% of the portfolio.” Click to continue reading and see 5 Best Roth IRA Stocks Hedge Funds are Buying . Suggested Articles: 10 Best Roth IRA Stocks to Buy According to Reddit 10 Best Dividend Stocks for Roth IRA 10 Best Money Saving Tips According to Experts Disclose. None. 10 Best Roth IRA Stocks Hedge Funds are Buying is originally published on Insider Monkey. || Bitcoin Suisse Launches Crypto Payment Solution With Worldline: BeInCrypto –
Swiss cryptocurrency trading platform Bitcoin Suisse and payments firm Worldline are launching an omnichannel crypto payment solution, WL Crypto Payments.
This cryptopayments collaborationbetween Worldline and Bitcoin Suisse had first been announced in November 2019.
Benefit for merchants
The integrated service will enable over 85,000 Swiss merchants across Worldline’s network to accept Bitcoin and Ether. These include payment options at the point-of-sale (POS) and in e-commerce.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || HOKK Finance - Latest Developments, Partnership, Audit and Listing Updates: GEORGETOWN, CAYMAN ISLANDS / ACCESSWIRE / August 1, 2021 / HOKK Finance will be showcased at the Hackathon: Decentralized Finance event and billed as a meme utility token generating automated returns. HOKK Finance is the rebirth of HOKK, and has also been listed on Coinsbit . HOKK Finance has created an affordable and internationally accessible payment system based on an inclusive financial system powered by the blockchain. HOKK Finance has also been audited and on-boarded as of 7/17/2021 by CERTIK Audit Community-Centric Defi Project Following a fair contract launch, HOKK Finance has become a deflationary token by default as its whale holders have burned $1 million worth of HOKK tokens. As a result, the users on the platform will receive automated returns via a 2% redistribution fee in the form of Automated Rewards Farming (ARF). The platform is devoted towards the community and wants to bring the benefits of crypto, meme, and open market to everyone. Joining the bandwagon of running meme-oriented platforms, HOKK Finance is innovating in the meme coin space, focusing on inclusivity. Prima facie, the platform is built for enhancing utility and enhancing the adoption of the crypto space for different purposes. One example of the enhanced utility is the principle of utility that is meant to create equal opportunities for every user engaging with the platform. HOKK Finance has also partnered with Shopping.io . Here, the users can buy products from Amazon and eBay with more than 100 cryptocurrencies. So, with such initiatives, HOKK Finance is integrating the real-world financial needs with the crypto space. Three-Tier HOKK Ecosystem The users will interact with three unique forms of HOKK. The $HOKK is meant to become the Bitcoin of Defi and will work as a decentralized token that is free from manipulation. It will also become the primary transactional currency and act as a store of value for the HOKK financial system. The $HOKKFI Utility Token is included in the future roadmap of the platform and will power HOKK Wallet, HOKK Pay, and HOKK Remit. HOKK Pay and Remit will help to operationalize the decentralized and global crypto payment systems. Story continues The HOKK Wallet will be integrated with the ARF rewards, this will increase the wallet balance progressively, as the number of transactions increases on the platform. The $HOKKFI Staking will begin after it goes live, and the users can then stake $HOKK to earn more tokens. Down the line, this three-tier ecosystem will be governed by the DAO, which will shift the power to the community. About HOKK Finance HOKK Finance is updated with a new version of HOKK. The new platform is considered as a rebirth of its predecessor and has brought in new community-centric aspects.The decentralized project is creating an ecosystem of meme utility added with an inclusive financial system. Considered as the next chapter in HOKK, HOKK Finance is providing access to a decentralized payments and remittance system enabling quick and secure international payments. Media Contact Prex Hokk Email - [email protected] PR - Cryptoshib.com Email - [email protected] SOURCE: The HOKK Foundation View source version on accesswire.com: https://www.accesswire.com/657920/HOKK-Finance--Latest-Developments-Partnership-Audit-and-Listing-Updates || Bitcoin bounces above $35,000 despite increased regulation: By Samuel Indyk
Investing.com – The price of Bitcoin briefly bounced back above $35,000 on Monday despite further regulatory scrutiny for the cryptocurrency industry.
Over the weekend, the UK’s Financial Conduct Authority banned Binance, the world’s largest cryptocurrency exchange, from conducting any regulated activity in the UK. In theconsumer warning, the regulator also advised people to be wary of adverts promising high returns on cryptoasset investments or cryptoasset-related products.
Bitcoin initially fell on the news, hitting a low of around $30,200 on Saturday before rebounding above $35,000 today.
Cryptocurrency bulls will look at the bounce off the psychological $30,000 support level as further evidence that the recent sell-off may have run its course. Some have also suggested that increased regulatory scrutiny is proof that the industry is maturing.
On the other hand, the regulatory clampdown in the UK could be viewed as a sign of things to come, with the potential for further strict regulation from across the globe.
China has renewed its crackdown on the cryptocurrency industry in recent weeks, with a focus on mining activity. Last week’s action to shutter mining activity in Sichuan province helped briefly send the price of Bitcoin below $30,000.
To the upside, a firm break of $35,000 could open the door to the 50DMA at around $38,600 before a test of the all-important $40,000 level.
A break above $40,000 could then lead to a test of the 200DMA, seen around $43,600.
On the downside, support is seen at $32,000 and around $31,250 before the $30,000 level comes into play.
If a breach of $30,000 manifests itself into further selling pressure, some have argued Bitcoin could drop into the mid-$20,000s.
“One more push down to $30,000 might not hold given the number of times we’ve tested it and there’s only so much liquidity there,” said Vijay Ayyar of cryptocurrency exchange Luno.
“Post-$30,000 and we should probably see $24,000 to $25,000,” Ayyar added.
The price action of Ethereum has been similar with the world’s second largest cryptocurrency hovering around the key $2,000 level, but well below the all time high of $4,300 hit in May.
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Cryptocurrency: The future of futures? || BlackRock Has Almost $400M Invested in Bitcoin Mining Stocks: Report: BlackRock, the world’s largest asset manager, had nearly $400 million invested in bitcoin mining companies at the end of the second quarter, according to U.S. Securities and Exchange Commission (SEC) filings. The SEC filings dated June 30 show BlackRock held stakes of 6.71% in Marathon Digital Holdings and 6.61% in Riot Blockchain, Forbes reported Thursday. The total amount invested in the two companies amounts to just under $383 million. The investment is spread across a number of BlackRock’s mutual funds and exchange-traded funds (ETFs), such as its iShares Russell 2000 ETF. Earlier this month, fellow asset manager Fidelity Investments also disclosed an investment in Marathon Digital, reflecting the increased interest mainstream financial services companies are taking in the crypto sector. Related Stories Compass Mining Says Chase Shut Down Bank Accounts Without Warning Hive Blockchain Appoints Fortress Blockchain Founder as Chief Operations Officer Market Wrap: Bitcoin Buyers Could Take Profits as Volume Declines Blockstream Energy Could Let Bitcoin Miners Set Up Anywhere There’s a Power Source || Bitcoin leaps 12% to test recent peaks, ether hits 3-week high: HONG KONG/SINGAPORE (Reuters) -Cryptocurrencies popped to the top of recent ranges on Monday as short sellers bailed out in the wake of a strong week and while traders hoped a handful of positive comments from influential investors might signal a turnaround in fragile sentiment.
Bitcoin rose as far as 12.5% to hit $39,850, its highest since mid-June during the Asia session, while ether hit a three-week peak of $2,344. On the heels of bitcoin's best week in almost three months, the move put the squeeze on short sellers.
Last week, cryptocurrency enthusiast and Tesla boss Elon Musk said the carmarker would likely resume accepting bitcoin once it conducts due diligence on its energy use. It had suspended such payments in May, contributing to a sharp crypto selloff.
Twitter boss Jack Dorsey also said last week that the digital currency is a "big part" of the social media firm's future and, on Sunday, London's City A.M. newspaper reported - citing an un-named "insider" - that Amazon is looking to accept bitcoin payments by year's end.
Brokers said that taken together the remarks were enough to finally lift the market from the floor of support where it has held steady since a May plunge, while data also pointed to heavy short-seller liquidations - suggesting many might have given up.
"Over the last five trading sessions we've seen general near-term bullishness in the market, driven by key technicals, as well as recent positive comments," said Ryan Rabaglia, global head of trading at digital asset platform OSL.
"With a record $1.2 billion in shorts liquidated over the past 24 hours, the outlook and momentum for the week ahead is positive," he said.
Bitcoin was last up 8% at $38,064, putting it within sight of resistance around June's $41,341.57 peak just a week after it was testing support at $29,500.
Ether was last up 5% at $2,304.
(Reporting by Alun John in Hong Kong and Tom Westbrook in Singapore; Editing by Christopher Cushing and Jacqueline Wong)
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 49058.67, 48902.40, 48829.83, 47054.98, 47166.69, 48847.03, 49327.72, 50025.38, 49944.62, 51753.41
|
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 2017-10-26]
BTC Price: 5904.83, BTC RSI: 65.52
Gold Price: 1266.30, Gold RSI: 37.89
Oil Price: 52.64, Oil RSI: 61.59
[Random Sample of News (last 60 days)]
Cryptos - Bitcoin Falls below $4,000 Level as Uncertainty Weighs: Bitcoin falls below $4,000 level as uncertainty weighs Investing.com - The price of the digital currency bitcoin fell below the $4,000 level on Wednesday as uncertainty over recent reports that China could move to ban cryptocurrency trading on domestic exchanges weighed. On the U.S.-based Bitfinex exchange, Bitcoin hit a low of $3,904.1, the weakest level since September 5. It was trading at $3,965.00 by 04:48 AM ET (08:48 GMT), down 4.44%, having opened at $4,351.5. At current prices, bitcoin has a total market capitalization of around $65 billion. Bitcoin prices are down 16.5% so far this month, but have still quadrupled in value since the start of the year. The cryptocurrency market has been hit by uncertainty since Chinese financial publication Caixin reported Friday that the country’s authorities are planning to shut down domestic cryptocurrency exchanges . The reports came after China last week announced a ban on initial coin offerings, a kind of fundraising via virtual currencies in order to finance start-ups. Regulators in China have been investigating the domestic market for bitcoin and other virtual currencies since January of this year. Meanwhile, JPMorgan Chase Chief Executive Jamie Dimon said Wednesday that bitcoin "is a fraud" and will blow up. The comments came at a bank investor conference in New York. "The currency isn't going to work. You can't have a business where people can invent a currency out of thin air and think that people who are buying it are really smart," he said. Dimon said that if any JPMorgan traders were trading the cryptocurrency, "I would fire them in a second, for two reasons: It is against our rules and they are stupid, and both are dangerous." Elsewhere, the price of bitcoin offshoot Bitcoin Cash was lower. It touched a low of $492.90 and was last at $509.46, having opened at $538.98. Bitcoin cash has a total market cap of nearly $8 billion at current prices, making it the third most valuable cryptocurrency. Story continues Elsewhere in cryptocurrency trading, Ethereum, the second biggest cryptocurrency by market cap after bitcoin, was down 6.43% to $275.00. To stay on top of the latest moves in the crypto-space, be sure to check out: https://www.investing.com/crypto/ Related Articles Cryptos - Bitcoin Falls below $4,000 Level as Uncertainty Weighs Cryptocurrency chaos as China cracks down on ICOs JPMorgan's Dimon says bitcoin 'is a fraud' || Russian central bank to ban websites offering crypto-currencies: MOSCOW (Reuters) - Russia will block access to websites of exchanges that offer crypto-currencies such as Bitcoin, Russian Central Bank First Deputy Governor Sergei Shvetsov said on Tuesday. He called them "dubious". Russian financial authorities initially treated any sort of money issued by non-state approved institutions as illegal, saying they could be used to launder money. Later the authorities accepted the globally booming market of crypto-currencies but want to either control the turnover or to limit access to the market "We cannot stand apart. We cannot give direct and easy access to such dubious instruments for retail (investors)," Shvetsov said, referring to households. Speaking at a conference on financial market derivatives, Shvetsov said the central bank sees rising interest in crypto-currencies because of high returns from buying into such instruments. He warned, however, that crypto-currencies gradually transform into high-yielding assets from being a mean of payment. Bitcoin, the most well-known virtual currency that emerged in mid-2010, last traded at around $4,807, up from its initial price of less than $1. "We think that for our citizens, for businesses the usage of such crypto-currencies as an investment object carries unreasonably high risks," he said. Russian authorities said earlier this year they would like to regulate the use of crypto-currencies by Russian citizens and companies. (Reporting by Elena Fabrichnaya; Writing by Andrey Ostroukh; Editing by Jermey Gaunt) || Trade the Earnings Rebound in General Electric Company (GE) Stock: I’ve been a bear onGeneral Electric Company(NYSE:GE) for several months now. It’s an easy stance to take given the company’s restructuring and reorganizing efforts. However, even I think this recent selloff has been more than a bit overdone. What’s more, earnings are coming up, and all it will take is a bit of positive news to send the stock skipping higher once again.
Source: Shutterstock
GE will step onto the earnings stage next Friday ahead of the market open. Wall Street is currently expecting GE to post a profit of 50 cents per share, up sharply from earnings of 32 cents in the same quarter last year. Revenue is expected to rise 11.5% to $32.62 billion.
Still, expectations appear to be a bit higher within the analyst community, despite the recent spate of bearish headlines. According to EarningsWhispers.com, General Electric’s whisper number arrives two cents higher at 52 cents per share. Matching the whisper could be a significant bullish spark for a beaten down GE stock price.
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Expectations begin to fade from here. For instance, only nine of the 16 analysts following GE stock rate the shares a “buy” or better. The 12-month price target of $27.93, meanwhile, rests a hefty 21% north of GE’s current perch following the stock’s recent plunge. Whether this results in downgrades or price-target cuts remains to be seen, but most analysts are likely waiting on next week’s quarterly earnings report to make a final decision.
Click to Enlarge
Whether this results in downgrades or price-target cuts remains to be seen, but most analysts are likely waiting on next week’s quarterly earnings report to make a final decision.
On the bearish end of the spectrum are GE options traders. Currently, the October put/call open interest ratio rests at a lofty reading of 1.18, with puts outnumbering calls among options most affected by next week’s earnings report.
(Note: October options expire the same day that GE reports earnings.)
October implieds are currently pricing in a post-earnings move of about 3.78%. This places the upper bound at $23.87, with the lower bound coming in near $22.13.
With the shares trading at very oversold levels, GE stock analysis indicates that a rebound from $23 is all but inevitable. And with earnings on the horizon, look for bargain hunters to move in rapidly.
Call Spread:Those looking to bet on a rebound for GE stock might want to consider an Oct $23.50/$24 bull call spread. At last check, this spread was offered at 13 cents, or $13 per pair of contracts. Breakeven lies at $23.63, while a maximum profit of 37 cents, or $37 per pair of contracts — a potential return of 184% — is possible if GE stock closes at or above $24 when October options expire.
Put Sell:If you’re looking for a more neutral play on GE ahead of earnings, then an Oct $22 put sell position has you covered. At last check, this put was bid at 13 cents, or $13 per contract. On the upside, traders will keep the initial premium received as long as GE stock closes above $22 when October options expire. The downside is that should GE trade below $22 ahead of expiration, traders could be assigned 100 shares for each sold put at a cost of $22 per share.
As of this writing, Joseph Hargett did not hold a position in any of the aforementioned securities.
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The postTrade the Earnings Rebound in General Electric Company (GE) Stockappeared first onInvestorPlace. || Bitcoin tumbles on report China to shutter digital currency exchanges: By Gertrude Chavez-Dreyfuss and Angela Moon NEW YORK (Reuters) - Bitcoin fell sharply on Friday after a report from a Chinese news outlet said China was planning to shut down local crypto-currency exchanges, although analysts said this was just a temporary setback. Sources close to a cross regulators committee that oversees online finance activities told Chinese financial publication Caixin that authorities plan to shut key bitcoin exchanges in China. Reuters was not immediately able to verify the report. But two sources in direct contact with officials at three Chinese bitcoin exchanges - Beijing-based OKCoin, Shanghai-based BTC China, and Beijing-based Huobi - said the platforms told them that they have not heard anything from the Chinese government. The news follows China's move earlier this week to ban so-called "initial coin offerings," or the practice of creating and selling digital currencies or tokens to investors in order to finance start-up projects. Greg Dwyer, business development manager at crypto-currency trading platform BitMEX, said there was confusion over whether China would close bitcoin exchanges following the ICO ban. "If this turns out to be true, then this sell-off is substantiated, and we could see further downside over the weekend, as it could mean the large bitcoin/Chinese yuan exchanges will need to halt trading," he added. Bitcoin dropped to a low of $4,227 on the BitStamp platform and last traded at $4,309.80, down 6.6 percent. On Sept 2, it hit a record high of nearly $5,000. Sharp losses such as Friday'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. Still, bitcoin was still up nearly 346 percent this year. John Spallanzani, chief macro strategist at GFI Group, said Friday's losses could be short-lived. "Bitcoin is here to stay," he said. Jehan Chu, a partner at Jen Advisors, a Hong Kong-based early-stage blockchain venture capital firm, noted that should China shut down bitcoin exchanges, it will not be the end of the crypto-currency world in the country. Blockchain, a digital ledger of transactions underpinning bitcoin, has leapt to prominence as it enable users to track and record assets across all industries. "This is just China pressing the 'Pause button," said Chu. A big part of bitcoin's recent surge was the ICO craze, which exploded this year. Bitcoins and ether, another digital currency, are used to purchase tokens for ICOs. By mid-July, tech firms had raised about $1.1 billion in 89 coin sales this year, roughly 10 times more than in all of 2016, data from crypto-currency research firm Smith + Crown showed. (Reporting by Gertrude Chavez-Dreyfuss and Angela Moon; Editing by Dan Grebler and Chizu Nomiyama) || Dollar Rises After U.S. Producer Inflation Rebound in August: The U.S. Dollar posted a solid gain against a basket of currencies on Wednesday after a report showed U.S. producer prices rebounded in August and as traders shifted their focus to consumer inflation data due on Thursday. Both producer and consumer inflation data will be important to the Federal Open Market Committee when it meets next week to discuss monetary policy.
September U.S. Dollar Index futures settled at 92.508, up 0.652 or +0.71%.
The index rallied after the U.S. Labor Department said its producer price index for final demand increased 0.2 percent in August after slipping 0.1 percent in July. The rebound was driven by a surge in the cost of gasoline.
While the rebound suggests that the U.S. economy is holding on to underlying momentum, traders should note that the overall demand picture may not lead to an increase in consumer prices. All the producer price data showed was that the U.S. economy was retaining underlying momentum. Domestic producer prices actually came in less than forecast.
The Fed meets next week, but is not expected to raise rates.
The GBP/USD hits its highest level in a year, but a massive wave of selling pressure drove the Forex pair lower for the session, forming a potentially bearish closing price reversal top chart pattern. The catalyst behind the selling pressure was weaker-than-expected U.K. wage growth which may have curtailed the Bank of England’s plans to raise rates in response to a surge in inflation.
Gold retreated to its lowest level in 1 ½ weeks on Wednesday in response to a jump in the U.S. Dollar Index. Weaker stock prices probably prevented further losses.
Low volatility in higher risk assets and a more cautious approach by investors has led to profit-taking weakness in gold this week.
Demand for gold as a safe-haven asset has dropped this week due to reduced concerns over North Korea.
U.S. West Texas Intermediate and international-benchmark Brent crude oil rallied sharply higher on Wednesday in response to a bullish report from the International Energy Agency (IEA).
According to the IEA, global oil demand is set to accelerate faster than anticipated this year. Strong second-quarter demand has buoyed oil markets, which have been struggling to rebalance as a supply glut has weighed heavily on prices, the IEA said in its September report released on Wednesday.
In other news, U.S. crude stockpiles rose sharply last week and gasoline inventories fell the most on record as refineries continued to be hampered by damage from Hurricane Harvey, the Energy Information Administration said on Wednesday.
Crude inventories rose 5.9 million barrels, compared with analysts’ expectations for an increase of 3.2 million barrels.
Thisarticlewas originally posted on FX Empire
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• Soft Earnings Data Weighed on Sterling || Leveraging Alternative Sources For Stock-Picking: Kai Score: As artificial intelligence becomes more advanced, machines will be able to more quickly and effectively comb the massive quantities of market data to identify patterns and other investment intelligence that traders can use to outperform the market.
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Kai’s Track Record
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The Kai Bottom Picks portfolio has delivered a CAGR of 2.5 percent during the same stretch, or an alpha of -11.4 percent.
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Models such as the Kai Model take massive quantities of data and extremely complex correlations and market dynamics and condense all that information into a single number that can easily be used as a trading indicator. Big data is the door to outperforming the market in the digital age. Buttraderswill need powerful analytical tools like the Kai Model to unlock that door and profit off the opportunity that big data and AI can provide.
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© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 5 top finance stories, and how Bitcoin is in hyperinflation: North Korea fires another missile over Japan: North Korea sent a missile over Japan and into the northern Pacific Ocean in its longest-ever test flight. According to a North Korean newspaper, this demonstrates that the country can “turn the American empire into a sea in flames through sudden surprise attack from any region and area.”
Alphabet is looking to invest in Lyft: Alphabet’s private-equity arm may invest $1 billion in ride-hailing company Lyft, Bloomberg reported. Lyft is the No. 2 ride provider behind Uber Technologies.
Angry Birds maker Rovio thinks it’s worth $1 billion: Finnish mobile games company Rovio Entertainment set its the initial price range for its IPO at 10.25-11.50 euros per share would give the company a market value of 802 million euros to 896 million euros ($955.34 million – $1.07 billion).
Oracle earnings beat expectations, but outlook disappoints: Oracle’s reported revenue of $9.21 billion and earnings of $0.62 per share, beating expectations for the quarter ending August 31. But management’s outlook for current quarter earnings fell short of expectations, signaling slowing growth in its red-hot cloud computing business.
US equity funds see biggest inflows in 13 weeks: Investors poured $1.9 billion into US stock funds in the week ending September 14, according to Bank of America Merrill Lynch.
World marketsare brushing off the latest defiant act from North Korea. Stocks closed higher in Asia with Japan’s Nikkei climbing 0.5% and Hong Kong’s Hang Seng up 0.1%. Markets are flat in Europe. The British pound climbed to a 14-month high of $1.35 afterBank of England’s Gertjan Vlieghe said“the appropriate time for a rise in Bank Rate might be as early as in the coming month.”
Japan’s Softbank wants a big chunk of Uber, but at a steep discount
Macy’s to hire 80,000 workers for holidays, fewer than last year
Portland probe finds Uber used software to evade 16 government officials
Facebook is the latest tech giant to hunt for AI talent in Canada
Who’s Warren Buffett’s successor? JPMorgan thinks it’s Greg Abel
Hugh Hendry closes hedge fund after 15 years as losses mount
• 8:30am: Retail Sales: Analysts estimate 0.1% growth month-over-month, or 0.3% excluding autos and gas.
• 9:15am: Industrial Production: Analysts estimate 0.1% growth month-over-month.
• 10:00am: Univ. of Michigan Consumer Sentiment: Analysts estimate this index fell to 95 from 96.8 a month ago.
Theunfavorable sentiment towards Bitcoin by Wall Street analysts persists. Here’sUBS’s Paul Donovonon the suggestion that Bitcoin is a currency: “In 1922, the start of the Weimar hyperinflation saw the German Mark lose 27% of its value against the dollar every fortnight. Bitcoin has lost 45% of its value against the dollar in the last fortnight. If Bitcoin were a currency, that loss of value would be considered hyperinflation. German Mark banknotes could be reused as wallpaper. Bitcoin cannot.”
Hurricane Irma couldn’t come at a worse time for the US Virgin Islands
Here’s Facebook Messenger’s plan to get its next 1 billion users
You have over 70 different credit scores
Why NFL scandals don’t matter to corporate sponsors
You and I don’t deserve a tax cut || Unfazed by wild swings, strategist Tom Lee still sees bitcoin surging another 600% in 5 years: It's going to take more than a double-digit percentage drop in a week to shake strategist Tom Lee's faith in the potential of bitcoin . "I unequivocally believe bitcoin is your best investment to the end of the year," the Fundstrat co-founder told CNBC, standing by similar remarks he made Aug. 9 on "Fast Money." He said on the program Thursday that bitcoin should be viewed as a store of value like gold was in the 1980s when some investors didn't trust dollars. "It's not worth it to look at bitcoin two months, two weeks ahead," Lee argued, saying he still believes each bitcoin will be worth $25,000 in five years or about 600 percent higher than current levels. In early trading on Friday, bitcoin fell below the $3,000 level before turning higher in volatile action. But the cryptocurrency was still about 15 percent lower for the entire week by midday. In the past 12 months, bitcoin has spiked about 500 percent. But China's recent crackdown on bitcoin exchanges there has created some forced selling, Lee said. But he stressed investors in the digital currency aren't strangers to these kinds of swings. From mid-June to mid-July, bitcoin fell about 30 percent and then more than doubled to an all-time of over $4,900 at the beginning of September. To critics, like JPMorgan Chairman and CEO Jamie Dimon , who've called bitcoin a fraud, Lee advised investors to be "on the other side, very strong." On Tuesday, at the CNBC-Institutional Investor Delivering Alpha conference, Dimon called the digital currency a "fraud" and predicted governments will step in. "Wait until someone gets hurt. Wait until it's used for illicit purposes, which it's somewhat used for illicit purposes. They close it down. That's my point," Dimon said. Lee also said bitcoin can't be in a "bubble," another assertion of bitcoin doubters, because so few people actually own it. "I think it's still very early stages." Story continues "We have some data. There's only about 300,000 holders of at least $5,000 of bitcoin," he said. "That's like saying the iPhone was a bubble in 2007 four days into the sale because there were 500,000 iPhones sold." Noted economist Mohamed El-Erian on Wednesday told "Squawk Box" that bitcoin is certainly a "disruptive" technology but won't see widespread use. "The current pricing assume massive adoption," Allianz's chief economic advisor and former Pimco chief said. That's the reason why he thinks bitcoin should be worth about half today's value. More From CNBC Terror to end bitcoin anonymity? 'Smart' people and Panama Papers Bitcoin mining IPO falls short || 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) || The Zacks Analyst Blog Highlights: ARK Web x.0 ETF, ARK Innovation ETF and iShares PHLX Semiconductor ETF: For Immediate Release Chicago, IL – October 16, 2017 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog includeincluding ARK Web x.0 ETF ARKW – Free Report), ARK Innovation ETF ARKK – Free Report) and iShares PHLX Semiconductor ETF SOXX – Free Report). Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free . Here are highlights from Friday’s Analyst Blog: ETFs Riding High on Bitcoin Surge After being hurt by regulatory crackdowns in China and Russia, and criticism from major Wall Street leaders last month, bitcoin regained its astronomical surge in recent sessions. The cryptocurrency skyrocketed from below $3,000 to a new high of above $5,900 today in less than a month, representing nearly 500% surge this year. For the week, bitcoin is up more than 30%. With this, the total market capitalization of the digital currency reached $97 billion and accounts for more than 55% of the total cryptocurrencies market. Most of the rally was driven by investors’ enthusiasm in receiving the offshoot coins from a scheduled split in November. In early August, the split of the digital currency into bitcoin and bitcoin cash resulted in an equal amount of new coin to investors. Additionally, the speculation of resuming bitcoin trading in China by licensing exchanges for cryptocurrencies is lending further strength. Moreover, strong demand from Japan and rising institutional investor interest continue to push up the price of bitcoin. Meanwhile, reports of Goldman Sachs exploring a bitcoin trading operation have kept the space buoyant. If this wasn’t enough, bitcoin is gradually becoming a safe-haven currency as tensions between North Korea and the United Stated as well as political crisis in Spain's Catalonia region has spurred a rally in the digital currency (read: Bitcoin Update: Goldman Trading & ETF Filings). Story continues The trend is likely to continue with most researchers and analysts giving bullish calls. The former Fortress Investment Group manager, Michael Novogratz, sees bitcoin price to rise over $10,000 in the next six to 10 months, largely because of heavy investor interest. Going forward, many analysts believe a better and mature regulatory environment will be a huge boon to the digital currency, leading to an increased investment in the booming cryptocurrency with a growing number of retail investors. Investors seeking to ride the surge and increased optimism surrounding cryptocurrency should invest in ETFs. Though none of the filled bitcoin ETFs have received approval until now, the popularity and success of bitcoin is driving the following ETFs. ARK Web x.0 ETF (ARKW – Free Report) ARKW is the first ETF to add bitcoin to its roster. This is an actively managed fund focusing on companies that are expected to benefit from the shift in technology infrastructure to the cloud, enabling mobile, new and local services. The fund holds 43 stocks in its basket with none holding more than 6.3% share. The ETF has amassed $103.5 million in its asset base and trades in a lower average daily volume of around 52,000 shares. The expense ratio comes in at 0.75%. The ETF is up 66.2% in the year-to-date time frame (see: all the Technology ETFs here). ARK Innovation ETF (ARKK – Free Report) This is also an actively managed fund focusing on companies that are expected to benefit from the development of new products or services, technological improvement and advancements in genomic revolution, Web x.0 and industrial innovation. The fund holds 54 stocks in its basket, with each holding no more than 6% share. It has AUM of $178.8 million and trades in a moderate average daily volume of around 73,000 shares. The product charges 75 bps in annual fees and has gained 74.2% so far this year. iShares PHLX Semiconductor ETF (SOXX – Free Report) Semiconductor ETFs are gaining from rising demand of cryptocurrency mining, which needs the usage of semiconductors. SOXX follows the PHLX SOX Semiconductor Sector Index and offers exposure to 30 firms with none holding more than 8.25% of assets. The fund has amassed $1.3 billion in its asset base and trades in a solid average volume of around 502,000 shares a day. It charges 48 bps in fees a year from investors and has surged 34.7% so far this year. It has a Zacks ETF Rank #1 (Strong Buy) with a High risk outlook (read: 5 Winning ETF Strategies for Q4). 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 >> Strong Stocks that Should Be in the News Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year.See these high-potential stocks free >>. Get the full Report on ARKW - FREE Get the full Report on ARKK - FREE Get the full Report on SOXX - FREE Follow us on Twitter: https://twitter.com/zacksresearch Join us on Facebook: https://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates. Media Contact Zacks Investment Research 800-767-3771 ext. 9339 [email protected] https://www.zacks.com/ Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ISHARS-PHLX SEM (SOXX): ETF Research Reports ARK- WEB XO ETF (ARKW): ETF Research Reports ARK-INNOVATION (ARKK): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research
[Random Sample of Social Media Buzz (last 60 days)]
Check. #Altcoin Exchange Performs First Atomic Swap Between Bitcoin and Ethereum https://news.bitcoin.com/altcoin-exchange-performs-first-atomic-swap-between-bitcoin-and-ethereum/ … via @BTCTN #tech #digital #data || 14 Ekim 2017 Saat 23:00:03, Bitcoin Ne Kadar Oldu, 20.719,10 TL. #BitcoinTL #btctry #BitcoinNeKadarhttp://www.doviz724.com/1-bitcoin-kac-tl.html … || 803 Mine Launches ICO Pre-Sale Forever Changes Bitcoin Investing http://www.nbc-2.com/story/36555840/803-mine-launches-ico-pre-sale-forever-changes-bitcoin-investing … || بیت کوین زیر ذره بین؛ پول رمزنگاری شده چرا و چگونه متولد شد؟
https://buff.ly/2xy0z9c
#bitcoin #زومیتpic.twitter.com/tHCREvpkwX || .@TriForceTokens Gaming Platform Partners Announces New Partnerships and IP Audit l #blockchain #Bitcoin #technology https://twitter.com/hashtag/technology?src=hash …pic.twitter.com/Q7LHLuOlvf || When headge minds start tlking about #Bitcoin price never take it for granted. They're mostly fudding for the sake of short term profits || #bitcoin non si ferma più? Analisi tecnica || 1 #BTC (#Bitcoin) quotes:
$5659.01/$5660.85 #Bitstamp
$5670.00/$5673.92 #Kraken
⇢$9.15/$14.91
$5631.68/$5688.29 #Coinbase
⇢$-29.17/$29.28 || Cotizaciones al 11/09/2017 01:00 PM
Bitcoin (BTC): 23.588.423
Ethereum (ETH): 1.667.892
Litecoin (LTC): 376.786
BTC Cash (BCH): 3.009.333 || A good month of $BTC consolidation. 200 day moving average rising well. Next six months should be very interesting & fun. LedgerX! #NO2X pic.twitter.com/Q1n3ns1myu
|
Trend: up || Prices: 5780.90, 5753.09, 6153.85, 6130.53, 6468.40, 6767.31, 7078.50, 7207.76, 7379.95, 7407.41
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Blockchain Spreads Its Wings: While the excitement seen at the beginning of 2014 over bitcoin has fizzled out, investors are becoming more and more interested in the technology behind the cryptocurrency Blockchain. Blockchain is an infinite ledger that keeps track of all transactions for bitcoin, and enthusiasts say it won’t be long before the technology has become widely used throughout several sectors. Related Link: Is Bitcoin Poised For Success in 2015? Blockchain For Central Banks On Monday, Vice President of the Federal Reserve Bank of St. Louis David Andolfatto said he believes that Blockchain technology could help improve the Federal Reserve by making it more accountable to the public. In his view, a ledger that kept track of all movements within the bank would take away a lot of the uncertainty associated with centralized banking. Social Media Jumps On Board ChangeTip has added Facebook Inc (NASDAQ: FB ) to its list of usable platforms alongside Twitter Inc (NYSE: TWTR ) and Reddit, and now allows users to tip each other in bitcoin. Embedding bitcoin into the world’s most popular social media site, ChangeTip said, is an important step in spreading the technology to the masses. Big Name Partners International Business Machines Corp. (NYSE: IBM ) and Samsung are also working on integrating Blockchain into their own partnership to create a fully functional decentralized "Internet of Things." The two are looking use Blockchain to create a ledger that would record billions of devices from the moment they are manufactured. Related Link: Bitcoin Startups Prove The Currency Isn't Dead Yet Blockchain Propels Cryptocurrencies Forward While bitcoin itself appears to be struggling, many companies say the Blockchain technology will continue advancing regardless. Eventually, most expect some sort of cryptocurrency to become the norm for online transactions, and whether or not bitcoin succeeds, Blockchain will become the standard for carrying out online transactions without a third party. Some enthusiasts say that with time, Blockchain will allow people to do more than just transfer money. The technology could make it possible to create usable contracts without lawyers and make share market trades without the need for a broker. See more from Benzinga Bigfoot To Enter The Market The Facebook Hustle Activist Investors Picking Up Where They Left Off © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || New York Could Become First City To Accept Bitcoin: New York City Councilman Mark Levine is expected to unveila proposalon Thursday that will allow the city to accept bitcoin as payment for fines.
The bill would allow the municipality to accept thecryptocurrencyfor things like parking tickets and court fees, but could also include an added charge for bitcoin payments.
The bill is still in its infancy and will need to be reviewed by the city’s officials before becoming a law; if passed, it would be hailed as a huge step toward mainstream adoption for bitcoin.
App To Pay Parking Tickets
Late last year, New York began working to find ways to make parking tickets easier to pay, which is where the concept of bitcoin payments was born.
City finance officials were considering the use of a smartphone app that would allow ticket holders to pay usingApplePay, PayPal or bitcoin.
Since then, lawmakers have been working out the details of creating such an app and debating the merits of incorporating bitcoin into the system.
Related Link: MyCoin Ponzi Scheme Another Setback For Cryptocurrencies
Pittsburgh Turns Down Cryptocurrency Payments
New York is not the first state to explore the possibility of using cryptocurrency for fees and fines.
In 2014, Pittsburgh also examined the benefits of allowing its residents to make bitcoin payments, but ultimately decided against it.
The city’s officials, who were working to avoid bankruptcy at the time, said the currency was too volatile and new to be considered as a viable option. Instead, they chose to focus on more popular forms of payment like credit and debit.
See more from Benzinga
• Is The U.S. Prepared To Legalize Marijuana?
• Word-Of-Mouth Takes On A New Meaning In The Digital Age
• Government Push For Cybersecurity Highlights Growing Demand
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || U.S. bitcoin exchange makes debut: NEW YORK (Reuters) - Bitcoin payments processor Coinbase on Monday opened a regulated exchange in the United States for trading the virtual currency, the company said. Launched just days after Coinbase raised $75 million from blue-chip financial institutions such as the New York Stock Exchange, the Coinbase Exchange was meant to help stabilize the bitcoin network, which has no central regulator or overseer, the company said. Coinbase users in 24 states and U.S. territories can immediately trade on the exchange, which will charge no fees through March 30, according to a blog post by the San Francisco-based company. Details of the new exchange's volumes were not immediately available. The value of highly volatile bitcoin was up 5.2 percent on Monday afternoon at $265.49, according to Thomson Reuters data. (Reporting By Michael Connor; Editing by Jonathan Oatis) || ZeusHash Offers Up To 30% Off Bitcoin Cloud Mining Batch II And Launches Extensive Cryptocurrency E-Commerce Platforms: With over 90 000 customers worldwide, cloud hashing platform ZeusHash is pleased to announce a new batch of Bitcoin cloud mining with up to 30% price drop and 15% cut in maintenance fees. Up to 20% discounts are offered for existing customers. Cryptocurrency e-commerce platforms are also under development. CHINA / ACCESSWIRE / January 30, 2015 / "ZeusHash's efforts to deliver the best cloud hashing services has never stopped and we hold a strong belief in the future of the crypto industry." Stated ZeusHash management earlier today. ZeusHash was launched on October 3rd 2014. In only 3 months, ZeusHash has successfully signed up over 90,000 users from 190 countries and regions around the world. The innovative cloud mining platform has just announced new batch II GHS cloud mining available for purchase . In the current climate of Bitcoin price instability, ZeusHash's commitment to their regular clients is highlighted by rewarding all customers who registered before January 27th 2015 with 10% off all GHS purchases. Recognized VIP users also receive a 20% off any cloud mining purchased. Brand new users will also receive one week of zero maintenance fees if they are one of the first 10 orders of the day. This special offer lasts from January 27th to January 31st 2015. Cloud mining prices start as low as $359 for 1 THS and $0.002 per GHS in maintenance fees per day. As well as extensive cloud mining infrastructure Zeus also retails Bitcoin ASIC Antminer S5's . Customers that wish to purchase a $399 Antminer S5 for $20 off can use coupon code "ZEUS-1501-399-20", $50 off a $799 purchase with coupon code "ZEUS-1501-799-50", and a $200 discount on Antminer S5 orders in the $1,999 price range can be claimed by using coupon code "ZEUS-1501-1999-200". ZeusHash Ecosystem 1. Cloud Mining 2. E-commerce 3. ZPAY.io Besides cloud mining services, ZeusHash is also working on its unique and interconnected ecosystem supported by two pillars: a cross border e-commerce platform that offers discounted goods with adoption of coin payment , and ZPAY.io, a wallet/payment service that will integrate international crypto businesses offering diversified and secured consumer services. Crazy Wednesday ( zeusminer.com/forums/forum/4-zeushash_crazywednesday ) is now the early stage of the e-commerce platform. With special products offered with major discounts every Wednesday it has gathered a lot fans worldwide. More will come for Crazy Wednesday in the near future and it will gradually grow into a mature e-commerce platform. Upcoming Zeus project ZPAY.io will feature cryptocurrency web wallets, online shops, merchant services, cryptocurrency crowdfunding, charity projects, and much more in one integrated platform. ZPAY.io is under intensive development and its diversified features will be released to the public in the near future. Story continues ZeusHash is also seeking partnerships with different Bitcoin and cryptocurrency businesses, anyone interested in future cooperation may send a request to [email protected] . Pillared by cloud mining services, e-commerce and ZPAY, the new ZeusHash ecosystem will serve as an integrated network that provides the best services for all cryptocurrency enthusiasts. About ZeusMiner and ZeusHash: Hong Kong based ZeusMiner is one of the largest distributors and retail sellers of Litecoin and Bitcoin ASIC mining hardware worldwide. With data centres spanning the globe clients worldwide can also cloud mine Bitcoin and Litecoin with ZeusMiner's in-house cloud mining platform ZeusHash. Pooling the best resources in the industry ZeusHash offers reliable, scalable and affordable Bitcoin and Litecoin industry grade cloud mining infrastructure. Moving forward ZeusHash aims for more industry partnerships, continued scaling of mining infrastructure, and to continue building out their infrastructure with a unique ecosystem in development. *This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. For more information about us, please visit https://zeushash.com . Contact Info: Name: Fei Hong Email: [email protected] Organization: ZeusHash SOURCE: ZeusHash View comments || Police risk losing tech arms race with criminals: Europol: AMSTERDAM (Reuters) - Austerity and funding cuts threaten to place police at a technological disadvantage against increasingly innovative and high-tech criminal organizations, Europe's policing agency warned on Monday. Europol said criminal gangs had a new array of technological tools at their disposal, ranging from hard-to-trace virtual currencies like Bitcoin to communications systems that allowed organizations to become looser and more decentralized. "Sustained austerity threatens to leave law enforcement behind the curve and unable to close the gap to criminal actors, who continuously innovate and invest," the Hague-based organization said in a report. Scattered crime groups would increasingly do deals in a "virtual criminal underground," carrying out transactions using virtual currencies and leaving little organizational footprint for police to target, Europol said. Europol's warning echoes concern in national intelligence agencies. Last year, the Netherlands said Islamist radicals in Europe were increasingly organizing themselves online, becoming an elusive and decentralized "swarm". Cracking such networks would need skills few police forces currently had, Europol said, adding that if budgets did not rise, victims of cybercrime might have to step up themselves, "crowdsourcing" the funding to investigate incidents. The agency said that the shifting balance of the global economy would also bring about changes in the nature of the crimes faced by police in Europe. As the continent's relative prosperity declined, the streams of economic migrants trying to enter the continent via the Mediterranean and the Balkans would slow or change direction. "Europe ... may not necessarily remain in the top tier of desired destination regions" for economic migrants, it said. In the longer term, criminal gangs could begin offering their services to European economic migrants hoping to gain illegal entry to the Asian or South American labor markets. (Reporting by Thomas Escritt; Editing by Crispian Balmer) || Deep Web Drug Dealers Are Freaking Out About The Bitcoin Crash: REUTERS/Enrique Castro-Mendivil All manner of illegal drugs are available on the deep web.
"Fantastic!"
That's the sarcastic reaction of one deep web dealer after losing $1,000 in a single night due to this week's catastrophic Bitcoin price crash.
The virtual currency has been declining in value for all of 2014, but it began 2015 particularly badly —losing 30% of its value in a matter of days. At the time of writing, the cryptocurrency is sitting relatively stably around the $205-mark. But it's a level not seen since the end of October 2013, and well below its $350 valuation just a month ago.
The price drop has had a damaging impact on the mainstream Bitcoin economy. One mining operation has already beenforced to temporarily close its doorsbecause it's no longer profitable. Other businesses are being forced to sell off Bitcoin reserves in order to stay afloat —risking driving prices down further.
But that’s just legitimate businesses. Bitcoin’s growth has been built upon far more nefarious uses — chief among them: buying and selling drugs online. And it turns out drug dealers are freaking out about the price crash just as much as everyone else.
CoinDesk A recent chart of Bitcoin's price decline over the past month.
Drug dealers and their customers have spent days lamenting over the decline using forums accessible only through anonymising software Tor. “Out a couple of thousand over this,” writes one dealer. “Bad f---ing time to start up. I really hope it bounces back and stays there. I can’t believe how fast they’re dropping. $330 to 280 to 220 in just a few weeks. Bye bye profit.”
“I am losing losing 10-20% on all orders in escrow now!” says another. “Make that 30%!!! There goes all profit! FML.”
Deep web markets almost exclusively accept Bitcoin as payment, and typically adjust prices automatically to account for Bitcoin’s fluctuations. The customer will always pay the same dollars-worth of Bitcoin, the amount varying depending on the exact price of the virtual currency at the time of purchase. It means that if a vendor makes some big sales, and then the price of Bitcoin plummets before they cash out, they can find their profits slashed, or even losing significant amounts of money.
Deep web
One user suggests that vendors should weather the storm and buy up in Bitcoin, in anticipation of a rise. “The people this is bad for is buyers who are getting less and less for the coins they bought,” they argue. Another says they’ve “bought a chunk to last me 6 months. Surely it won’t go lower.”
But others disagree. “Some of the really big sellers might be able to do that,” a dealer writes, “but many of us have overhead costs that need to be paid to keep the business running! I believe in Bitcoin’s future and try to hold, but when you have been holding since around $800 and you need to cash out under 200, it hurts!”
Evolution
One deep web cocaine dealer spoke to Business Insider about the price crash. “It’s pretty damn sad,” they said. “We have worked so hard over the past 3 months, and for profits to get halved? It’s hard to swallow, simple as that, but what can you do. It’s a gamble, whether you hold or sell.”
They'd cashed out and had a massive payday during the bubble in November 2013, so they weren't immediately hurt by the dropping prices. But it’s still “hard work down the toilet.” And other, newer dealers don't have that luxury: they’ll be forced to sell reserves at a loss just to keep going (and potentially forcing the price down even more in the process).
There's been a "slight drop" in sales over the last few days, the dealer said, but it's too early to say what's the cause. As for the future, “it might drop a little or might go up a little… we will just have to ride it out :)”
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• Major Silk Road Drug Dealer Known As 'CALIGIRL' Sentenced To Nearly 6 Years In Prison
• Both Of The Men Accused Of Running The Silk Road Made The Exact Same Mistake
• 'Bitcoin Jesus' Renounced His American Citizenship — So Now The US Isn't Letting Him In || Tether Introduces Real-World Currency to the Blockchain by Going Live on Bitfinex: HONG KONG, CHINA--(Marketwired - Jan 15, 2015) - Tether, the first real-world currency platform built on the Bitcoin blockchain and currently in private beta, today announced its first live integration with Bitfinex, the leading US Dollar digital currency exchange. For the first time, verified exchange clients can fund accounts and withdraw US Dollar balances directly and securely without using traditional financial institutions. Tether Co-Founder and CEO Reeve Collins stated, "This integration with Bitfinex is the first step into a world where traditional currencies move like bitcoins. Dollars have now inherited the portability benefits of cryptocurrency." Tether aims to accelerate the adoption of blockchain technologies by enabling individuals to use the currencies with which they are familiar on a robust, decentralized network. Users of Tether leverage a secure platform that allows deposited US Dollars (and soon Euros, Japanese Yen and others) to be converted into Tether currency on a 1-to-1 basis and held in their online or offline wallet. A spokesperson for Bitfinex said, "We see Tether as a significant optimization for the problems that plague bitcoin traders and exchanges when interfacing with the traditional banking system. We proudly support Tether and encourage other exchanges, OTC traders, and arbitrageurs to also use Tether. We believe that widespread adoption of a secure Blockchain-compatible 'crypto-dollar' will lead to better price discovery, market transparency and liquidity." A new financial platform for the Bitcoin ecosystem Each Tether is backed 1-to-1 by its corresponding currency, which can be viewed and verified in real-time via the Tether.to website and on the Blockchain. Tether will be fully transparent and audited to demonstrate 100% reserves at all times. The near-zero fees for creating and redeeming tethers, and zero-fee transfer ability incentivizes rapid adoption and widespread use. Craig Sellars, Tether Co-Founder and CTO added, "We built Tether as a non-competitive technology platform to enhance the features of all Blockchain companies by focusing on one premise -- to provide access to fiat currency on the Blockchain. A simple integration with Tether enables a new foundational layer on Bitcoin and offers a powerful utility for everyone in the ecosystem." View comments || Bitcoin Alternative HYPER Announces Anonymous Mobile Accessible Web Wallet With Staking And Many More Cryptocurrency Gaming Competitions: Untitled Document
Gaming Cryptocurrency HYPER Is Pleased To Announce The Mobile Accessible Staking Web Wallet With Fully Anonymous And Obfuscated Transactions To Be Released In Alpha Shortly. Free HYPER Is Offered To Web Wallet Testers And Gamers Who Compete In Many Competitions
LOS ANGLES, CA / ACCESSWIRE / January 18, 2015 /Essentially,HYPER is a low energy cryptocurrency designed for use in online games, MMOs, virtual worlds and more. The currency is currently used in CS:GO, TF2, Rust, StarMade, Assetto Corsa Racing, Paperboy, Tilt, Snowball, and more. Players worldwide can earn, spend and win HYPER on a decentralized network of HYPER game servers run by the community.
HYPER was recently added to Coinpayments.net so online merchants can easily accept HYPER as a payment method. Artists, authors, game developers and more can also easily accept HYPER tips and donations via Whitepuma. Currently, the most active market for trading HYPER is on Bittrex. HYPER is also going to be integrated in the Casheer iPhone and Android App – recently announced at Bitcoin Miami – for in-store and online purchases at merchants worldwide.
The HYPERGG team is pleased to announce thatthe anonymous, mobile, staking HYPER web wallet at the HYPERGG will be released shortly. The team is offering free HYPER to alpha testers.
The HYPERGG web wallet will be very secure. The web wallet uses multiple servers with the wallet server being "cold" from any outside connections, and thus cannot be hacked remotely. The wallet server is not only separate from the web server, but the web connections and RPC are all protected with SSL. Data in the database is also encrypted, so even if someone gains access to it, the attacker will not be able to do anything with the encrypted information.
In addition, the HYPERGG web wallet has the added benefit of protecting users identity by masking the transactions they make, keeping their spending history anonymous.
HYPER rewards users who “stake” their wallets by issuing compound interest at 5% monthly. The currency's multi-stage economic model incentivizes users to keep their wallet clients running on regular desktops and laptops, which is what enables this currency to be so decentralized. Transactions are processed and verified by true peers, not by wealthy mining interests. This 5% monthly interest will continue for another 4.5 years before HYPER switches to 10% per annum proof of stake interest.
No energy and resources are used by users computers when running the HYPER web wallet or earning stakes. Users earn their guaranteed 5% monthly HYPER stakes daily. The HYPER anonymous wallet will also be fully accessible on all mobile devices.
Eventually, the HYPERGG will contain not only the HYPER web wallet, but also a social network for cryptocurrency gamers, as well as listing all current HYPER gaming competitions.
HYPER development has been speeding up rapidly, with a hack n slash MMO that integrates HYPER due to be launched at http://vslayers.me shortly, as well as over 10 different monthly gaming competitions for CS:GO, TF2, Rust, StarMade, Assetto Corsa Racing, Paperboy, Tilt, Snowball, and more.
Through giving HYPER bounties to server admins and online game developers, HYPER aims to eventually have hundreds of online games and servers that utilize HYPER as the in-game currency. The key focus of all future development plans is to ensure HYPER has a diverse and unprecedented ecosystem that provides many unique opportunities for gaming, trading and profit.
To trade HYPER with bitcoin please go to:https://bittrex.com/Market/Index?MarketName=BTC-HYPER
* This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.For more information about us, please visithttp://hypercrypto.com/
Video URL:https://www.youtube.com/watch?v=cMTt3zAJgpg
Contact:David SeamanHYPER U.S. Media [email protected]
Source:HYPER Media || Force Minerals Corporation Finalizes Acquisition of Crypto Currency Digital Mining Company; New Commerce Platform for BTC Transactions Under Development: IRVINE, CA / ACCESSWIRE / February 24, 2015 / Force Minerals Corporation (OTC Pink: FORC) ( FORC ), is pleased to announce the Company has completed acquisition of an established Crypto Currency digital mining company and its digital mining assets. The acquisition is now finalized. The acquisition of Digital Mining Corporation, a developing Crypto Currency and Alt Currency Mining Corporation is finalized and the company is now moving forward in executing its business plan, which will concentrate in two primary divisions of operations. These divisions will include mining, mining pools, trading and arbitrage across all crypto currencies. The second division of operations will include the development of crypto security features particular to Bitcoin for merchants. The company is developing a platform which will allow merchants to utilize, by subscription, the ability to confirm the authenticity of Bitcoin being offered as payment on a much timelier basis than currently available. Bitcoin transactions can take between half a minute to several minutes to confirm the authenticity of the Bitcoin being offered as payment with larger transactions involving several Bitcoin taking up to 15 minutes or more. The company believes that upon successful development of its platform the transaction times can be reduced to a few seconds, no matter how large. "We believe this new transaction platform will be a significant game changing technology for merchants utilizing Bitcoin," states, company President, Mr. Nate Lewis. "Companies such as Microsoft, Dell and many others with collective annual revenues of over 180 Billion now accept Bitcoin and the market is growing worldwide. We look forward to becoming a key developmental company in the Bitcoin and Crypto Currency markets in the future." Upon the successful implementation of this process the company will expand to other relative Crypto Currencies as opportunities become available. 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; FORC'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: Force Minerals Corporation Mr. Nathaniel Lewis President 1-970-660-8197 www.digitalminingcorp.com [email protected] SOURCE: Force Minerals Corporation || Bitcoin An Unlikely Solution For The Poor: So far,bitcoinhas caught on among tech-savvy enthusiasts; but many see the cryptocurrency as a viable solution for the poor, who often don't have access to banking facilities.
While some bitcoin firms are continuing their efforts to push thecryptocurrencytoward mainstream adoption, others are turning to nations with a large population of bankless-people that would benefit from a new way to send and receive money.
Bitcoin In Africa
Africa has become a major target for bitcoin companies looking to focus their adoption efforts on poor populations without easy access to banking. Many currently rely on companies likeWestern Union(NYSE:WU), which charge a significant premium, to send and receive money, making bitcoin's relatively cheap transaction costs very attractive.
Related Link:Bitcoin Makes Its Way To A Major Exchange
Sending Money Home Carries Costs
In 2014, more than 30 million Africans left their hometowns in order to work and sent around $40 billion back to their families. Since money sending agencies charge about 12 percent of the total amount sent, that means much of their hard-earned cash was spent on the transaction costs alone. Those figures make bitcoin a viable competitor and could help boost the currency's adoption.
Filling The Gap
Several firms are focusing their attention on the unmet banking needs in Africa using bitcoin. Global payment company BitPesa recently raised just over $1 million in order to expand its operations into Kenya, while bitcoin exchange igot saw more than 200,000 transactions in Africa throughout 2014.
Still Some Concerns
Although bitcoin's low transaction costs make it a good option for African populations without access to banking systems, the cryptocurrency still has a long way to go before becoming stable enough to depend on. Because of its high degree of volatility, critics say bitcoin is far too unstable for use in poor populations.
See more from Benzinga
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
Bitstamp Prices
LAST: $260.00
BID: $260.00
ASK: $260.40
VOL: 54253.99 BTC
http://bit.ly/Cryptoticks || BTCTurk 562.23 TL Koinim 585 TL CampBx 255.00 $ BTCe 222.016 $ BitStamp 232.42 $ SCounter #Bitcoin #btc http://bitcoindunyasi.com || buysellbitco.in #bitcoin price in INR, Buy : 16974.00 INR Sell : 16420.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || Current price: 154.34£ $BTCGBP $btc #bitcoin 2015-02-16 22:00:05 GMT || Current price: 251.45€ $BTCEUR $btc #bitcoin 2015-01-26 05:00:04 CET || 2015年3月13日 02:00:02
BTC_MONA
買[bid]:2155.17269528MONA
売[ask]:2600.00000000MONA
API by もなとれ || Current price: 139.27£ $BTCGBP $btc #bitcoin 2015-01-15 20:00:06 GMT || 1 #bitcoin = $3300.03 MXN | $224.49 USD #BitAPeso Precio: http://www.bitapeso.com - Wednesday 4th of February 2015 05:00 AM || One Bitcoin now worth $225.78@bitstamp. High $233.00. Low $216.10. Market Cap $3.114 Billion #bitcoin || In the last 10 mins, there were arb opps spanning 21 exchange pair(s), yielding profits ranging between $0.00 and $1,079.03 #bitcoin #btc
|
Trend: down || Prices: 286.39, 290.59, 285.51, 256.30, 260.93, 261.75, 260.02, 267.96, 266.74, 245.60
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-07-21]
BTC Price: 2667.76, BTC RSI: 57.26
Gold Price: 1254.30, Gold RSI: 60.28
Oil Price: 45.77, Oil RSI: 49.57
[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 from Coindesk that 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--its like a geeks version of holding up todays newspaper. Another day, another blockchain use case. pic.twitter.com/OyHzdhEeGR Vitalik Buterin (@VitalikButerin) June 26, 2017 Buterins 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. (Its 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). Get Data Sheet , Fortune's technology newsletter 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 Hacketts magazine profile of Buterin from last summer.) Story continues 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 || A Wall Street legend is backing a bitcoin trading startup: John Mack Morgan Stanley (Former Morgan Stanley CEO John Mack.AP) Wall Street investors have been slow to embrace bitcoin, even as the cryptocurrency has soared. John Mack, the former CEO of Morgan Stanley who led the bank through the doldrums of the financial crisis, wants to change that. The 72-year-old banker — along with other members of investment fund Venture One — has invested in Omega One, a Brooklyn-based startup that wants to act as a middleman between investors trading volatile cryptocurrencies like bitcoin. The news was first reported by Bloomberg News’ Matthew Leising. As an agency broker, Omega One serves as counterparty, allowing clients like Wall Street banks to avoid the risks that come with these emerging assets while still serving clients who are interested in the space. To avoid crashing a single exchange with a large transaction, Omega claims it can split big trades across platforms. “We’re the bridge between the traditional capital markets and the crypto markets,” Omega One CTO Alex Gordon-Bradner told Bloomberg. “We will provide everything from balance sheet intermediation to a trusted counter party.” Banks seem to be more bullish on bitcoin’s underlying technology, blockchain, than they are on actual currency. BNY Mellon , for example, has set up a blockchain ledger that mirror’s the bank’s traditional system. Even Mack's former employer isn’t convinced bitcoin can function as a currency, saying it's more of a value-holding asset. Bitcoin’s price skyrocketed earlier this year to a price of over $3,000 a coin, but has fallen recently to $2,300. “I have been watching and investing in the cryptocurrency market over the last several years, and as a Venture One portfolio company, I find Omega One to be an important next step in the emergence of this new economy,” Mack said in a statement to Bloomberg. NOW WATCH: The world’s tallest single-family home is up for sale — take a look inside More From Business Insider Bitcoin is embroiled in a civil war — here's one way it can unfold MORGAN STANLEY: 'Bitcoin acceptance is virtually zero and shrinking' Ethereum has found its price floor || Goldman predicts Tesla shares will get cut in half on ‘plateauing’ Model S sales: While some investors may be optimistic on Tesla's(TSLA)Model 3 production plans, Goldman Sachs is concerned over slowing sales growth of the company's current electric cars.
The report helped send Tesla's stock down about 5 percent in the first hour of trading.
Goldman analyst David Tamberrino lowered his six-month price target for Tesla to $180 from $190, representing 49 percent downside from Monday's close."We remain sell rated on shares of TSLA where we see potential for downside as the Model 3 launch curve undershoots the company's production targets and as 2H17 margins likely disappoint," Tamberrino wrote in a note to clients Wednesday. "This comes as demand for TSLA's established products (Model S and Model X) appear to be plateauing slightly below a 100k annual run rate."
The analyst cited how Tesla's second quarter deliveries number of approximately 22,000 carsmissedhis forecast of 23,500 and the Wall Street consensus of 24,200. As a result, he lowered his annual growth estimate for the Model S and Model X cars to 5 percent through 2021 from his previous forecast of 13 percent per year.
Teslablameda production issue with its 100 kilowatt-hour battery packs for the second quarter deliveries shortfall."Further, cash burn should intensify as we progress through 2017 –though we forecast the next capital raise in 1H18," he wrote.
Multiple Wall Street firms including Bernstein, KeyBanc Capital and Cowen also expressed disappointment over Tesla's second quarter deliveries result in notes to clients Wednesday and Tuesday."Tesla's Q2 production and deliveries report raised more questions than answers, particularly about Model S and X demand," Bernstein's Toni Sacconaghi wrote.Tesla did not immediately respond to a request for comment on this story. Its shares are up 65 percent this year versus the S&P 500's 8.5 percent return through Monday.
—CNBC'sMichael Bloomcontributed to this story.
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• Bitcoin could nearly double and reach $5,000 soon, says Standpoint Research
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• Some recent tech IPOs are cratering || Bitcoin rival Ripple is suddenly sitting on many billions of dollars worth of currency: Blockchain start-up Ripple is in a precarious position for a 5-year-old company.
The business is still in its very early days but suddenly has billions of dollars worth of cryptocurrency on its balance sheet.
Ripple, which built a digital payments network for real-time financial transactions, is also the creator and biggest owner ofRipple XRP, a digital currency that has increased in value by 40 times this year.
There's a total of 100 billion XRP in existence, each priced at about 26 cents. The $26 billion of total value is second among cryptocurrencies, behindbitcoin, which is valued at $41 billion.
Ripple owns about 61 percent — or $16 billion worth — of XRP.
If that were factored into the company's valuation, Ripple would be worth more than all but four U.S. start-ups — Uber, Airbnb,Palantirand WeWork.
XRP is surging alongsidebitcoinandetheras well as smaller digital currencies like dash and monero. They're all benefiting from the surging interest inblockchain, a distributed electronic ledger that makes all transactions trackable. Unlike other cryptocurrencies on the market, XRP is tied to — and majority-owned by — a single company.
That's led to concern among XRP investors and enthusiasts that Ripple will one day decide to capitalize on its massive stake and flood the market with currency. Some venture investors would surely welcome cashing in on some of that value after pouring about $94 million into the company.
But for people with thousands (or millions) of dollars wrapped up in XRP, the fear of a sudden excess of supply has been unsettling, particularly considering the volatility of the currency. The price fell 13 percent late in the day on Thursday and double-digit daily moves are normal.
To create some long-term stability and ease those concerns, Ripple announced aplanlast week for the structured sale and use of its currency. By the end of 2017, the company will put 55 billion of its XRP into escrow and will unleash up to 1 billion into the market every month. Thus, investors will have some sense of what's coming.
"We decided to take the issue off the table," Ripple CEO Brad Garlinghouse said in an interview. "We wanted to make sure we were combating any uncertainty about supply."
Garlinghouse is a well-known name in Silicon Valley. He had senior executive roles at Yahoo(YHOO)and AOL and was CEO of Hightail (formerly YouSendIt) from 2012 to 2014. He joined Ripple in 2015, and earlier this year took over the CEO role from founder Chris Larsen, a serial entrepreneur, who previously started online lender Prosper.
Garlinghouse likened Ripple's situation to Yahoo, which derives almost all of its current value from its large stake in China's Alibaba(: ). (Yahoo's core business is being sold to Verizon(VZ)and the Alibaba stake is being spun out into a new holding company calledAltaba.)
The analogy only goes so far, as equity investors haven't ascribed a big multibillion dollar valuation to Ripple. The company last raised money inSeptember, when the XRP currency was worth a tiny fraction of its current price.
However, Ripple's business has picked up quite a bit of momentum since then, which helps explain at least some of XRP's rally. Last month, Ripple signed up10 new financial institutions, including BBVA, to its payments platform that supports speedy transactions by eliminating all the friction that exists between various currencies and financial systems.
Global banksincluding Bank of America(BAC), RBC(Toronto Stock Exchange: RY-CA)and UBS(Swiss Exchange: UBSG-CH)are also customers. While bitcoin is the more establishedcyptocurrency, it's primarily used today as an investment vehicle and has run into big latency problems with handling transactions.
Ripple and ethereum have emerged as the early leaders in enabling business arrangements, with Ripple trying to build the digital payments standard for the financial sector.
"Some of those banks are all in and some are still in the early stage running a pilot," Garlinghouse said. "We have real customers touching real production systems. We're the only company you can say that about in our space."
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• GameStop shares tank despite earnings beat
• Bitcoin rival ethereum is headed for a 38% correction, analyst says
• Nintendo adds $2.2 billion to market cap as shares rally after release of hit game || Your first trade for Wednesday, May 24: The "Fast Money" traders shared their first moves for the early hours of the trading day.
Pete Najarian was a buyer of Goldman Sachs(NYSE: GS).
Brian Kelly was a buyer of the SPDR S&P Regional Banking ETF(NYSE Arca: KRE).
Steve Grasso was a buyer of KB Home(NYSE: KBH).
Guy Adami was a buyer of Xilinx(NASDAQ: XLNX).
Trader disclosure: On May 23, 2017, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: BK is long Bitcoin, Ethereum, GE, HLF, IWM, TSLA, WMT. Pete Najarian owns calls BAC, BUD, C, CHK, CPN, CRM, DAL, EOG, FEYE, GS, KMI, MDLZ, NBL, NBR, ORCL, RF, TECK, UNP, WFM, WFT, WLL, XLE. Pete is long stock AAP, AAPL, BAC, CL, DIS, DLTR, EMR, FSLR, GILD, GIS, GM, GS, IBM, JWN, K, KMX, KO, KORS, MRK, MSFT, PFE, RL, STX, TPX, UNP, WDC, WFT. Steve Grasso's firm is long stock AON, BX, CTL, CUBA, DIA, F, HES, ICE, KDUS, KORS, MAT, MFIN, MJNA, MSFT, NE, RIG, SNAP, SPY, SQBG, TIME, TITXF, UA, VEON, WDR, WPX, ZNGA. Grasso is long stock BABA, CHK, EEM, EVGN, GDX, JCP, KBH, LEN, 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.
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• Your first trade for Thursday, May 18 || Bitcoin bulls runs wild as cryptocurrency surges above $3000: Bitcoin(Exchange: BTC=-USS)traded above $3,000 for the first time on Sunday, continuing this year's massive surge and helped by increased demand from Asia-based investors.
After trading in a range for the last week, bitcoin climbed to an all-time high Sunday of $3,012.05, according to CoinDesk.
On Chinese exchanges such as BTCC, the currency traded about $40 to $60 above that price. Last week, several major Chinese bitcoin exchanges allowed customers to resume withdrawals of the cryptocurrency, after haltingwithdrawals in early February amid scrutinyfrom the People's Bank of China.
Source: CoinDesk
The digital currency has had a stellar year, rising by more than 200 percent and easily outperforming stock market benchmarks like the S&P 500(INDEX: .SPX)Index and the Nasdaq composite(NASDAQ: .IXIC)in 2017. The cryptocurrency has now more than tripled in value since trading at $968 on Dec. 31, and has gained nearly 30 percent in June alone.
Bitcoin in 2017
Source: CoinDesk
Brian Kelly, CEO and founder of BKCM and a CNBC contributor, told CNBC this week that the cryptocurrency was "in the first years of what is likely to be a multi-year bull market. Of course there will be corrections and even crashes along the way, but bitcoin is here to stay."
A contributing factor to bitcoin's recent surge is growing demand from Asia. In addition to the China factor, Japanese interest has risen ever since the government approved bitcoin as a legal payment method in April.
Investors also plowed more money into the currency after Minneapolis Federal Reserve President Neel Kashkari commented on the blockchain technology behind bitcoin, saying it "has more potential than bitcoin itself."
—CNBC's Fred Imbert contributed to this report.
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• A tech investor heads home to run for Congress in rural California || 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) || The Bears are Waiting for Their Chance in the Nasdaq: InvestorPlace - Stock Market News, Stock Advice & Trading Tips
U.S. equities finished sharply lower on Thursday, although off of their worst levels, as a rise in long-term interest rates and recent central bank hawkishness took a toll. Big-cap tech stocks resumed their on-again, off-again weakness, dragging the major indices lower.
In the end, theDow Jones Industrial Averagelost 0.8%, theS&P 500lost 0.9%, theNasdaq Compositelost 1.4% and theRussell 2000lost 0.6%. Treasury bonds extended their recent selloff, the dollar weakened, gold fell 0.3% and crude oil gained 0.4% for the sixth straight gain.
Breadth was heavily negative, with 2.4 decliners for every advancing issue on the NYSE.
Click to Enlarge
Technology stocks were on the chopping block, down 1.8% as a group:Facebook Inc(NASDAQ:FB) fell 1.4%,Amazon.com, Inc.(NASDAQ:AMZN) fell 1.5%,Apple Inc.(NASDAQ:AAPL) fell 1.5%,Microsoft Corporation(NASDAQ:MSFT) fell 1.9% andAlphabet Inc(NASDAQ:GOOG, NASDAQ:GOOGL) fell 2.4%.
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Semiconductors were among the day’s hardest hit, withNvidia Corporation(NASDAQ:NVDA) down 3.3% andAdvanced Micro Devices, Inc.(NASDAQ:AMD) down 4.8% asThe Wall Street Journalsuggests the company’s revenues are too exposed to cryptocurrency mining.
Qualcomm, Inc.(NASDAQ:QCOM) fell 1.9%, boosting the July QCOM $56 puts recommended toEdge Prosubscribers to a 67% gain since added on Tuesday.
Click to Enlarge
Financials bucked the trend to gain 0.7% as a group thanks to net interest margin hopes. TheFinancial Select Sector SPDR Fund(NYSEARCA:XLF) is on the verge of an upside breakout from a long seven-month consolidation pattern. It’ll be interesting to see how the market bulls reconcile tech weakness/bank strength since both are heavily weighed sectors in the major averages.
Also helping the banks was the announcement of capital return plans last night following the passage of Federal Reserve “stress test” capital tests.Citigroup Inc(NYSE:C) gained 2.8% on a larger-than-expected 100% dividend increase and a $15.6 billion buyback plan.
In other corporate news,Staples, Inc.(NASDAQ:SPLS) gained 1.5% after agreeing to be acquired by Sycamore Partners for $10.25 per share in cash or nearly $7 billion.Groupon Inc(NASDAQ:GRPN) gained 4.3% on an upgrade from analysts at B Riley. AndLululemon Athletica Inc.(NASDAQ:LULU) gained 5.2% after its chairman purchased $5.5 million worth of shares.
Rite Aid Corporation(NYSE:RAD) collapsed 26.5% after the company andWalgreens Boots Alliance Inc(NASDAQ:WBA) terminated their merger agreement due to regulator opposition. WBA will still acquire nearly 2,200 stores for $5.2 billion in cash. The company also announced Q1 earnings well below estimates on a 3.9% decline in same-store sales.
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The single biggest dynamic in play right now is the weakness hitting Treasury bonds as shown above.
This is being driven by hawkish commentary from Federal Reserve officials lately, who have echoed each other on worries about elevated asset price valuations (stocks too expensive), leverage (too much credit overhang), reach-for-yield behavior (sentiment too hot), and the fact that credit conditions have loosened since they started tightening policy in December 2015 (based largely on the fact stock prices are up some 20% since then.
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Source: OptionsAnalytix
There is a technical element to the action as well amid a reversal of some recent trends: Crude oil is up six days in a row, which is boosting inflation expectations, lifting long-term yields (thus weakening bonds), and weakening the dollar (down five of the last seven days).
This is the best opportunity the bears have had in months to pile on: The Nasdaq 100 closed back below its 50-day moving average, a level that hasn’t been traded below in a major way since early December.
• Buy Tesla Inc (TSLA)? Try This Undervalued Auto Stock Instead.
That’s great news for theProShares UltraShort QQQ (ETF)(NYSEARCA:QID).
Check out Serge Berger’sTrade of the Dayfor June 30.
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 founder of theEdge(ETFs) andEdge Pro(Options) investment advisory newsletters. A two-week and four-week free trial offer has been extended to Investorplace readers.
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The postThe Bears are Waiting for Their Chance in the Nasdaqappeared first onInvestorPlace. || Japanese family life is falling apart — and the reasons why go back to World War II: (mrhayata/Flickr)
Japan is in the midst of a fertility crisis, and it's 65 years in the making.
Saddled with long work hours and rising expenses, young Japanese couples are opting not to have kids. Even if they have the energy to start a family, many simply don't have the time.
As a result, spending shrinks on the small scale and the Japanese economy contracts on the large scale. Japan has seen trillions in lost GDP over the past years, in combination with a population decline of 1 million people. Harvard sociologist Mary Brinton puts it bluntly:"This is death to the family," she tells Business Insider.
Japan's case isn't just extreme in scale; it's also extreme in how far the ripples of the past have extended into the present. Policies implemented in the early 1950s, in the aftermath of World War II, still shape the lives of many Japanese young people in 2017.
During the early 1950s, Prime Minister Shigeru Yoshida made it his top priority to rebuild Japan's economy. Much of the country had just been decimated in some form — if not by the two atomic bombs, then by the resulting effects on business and daily life.
Yoshida's plan involved a pact made between businesses and their employees. He called on companies to offer lifetime employment to their workers, asking that those workers devote the whole of their beings to those jobs.
The pact worked. Japan's economy emerged from the rubble as one of the strongest in the world. Japan became a manufacturing and technological hub, and almost none of the work came from outside the country's borders, save for trace populations of Chinese immigrants.
Ultimately, Japan's economy ended up becoming the third-strongest in the world. Its present-day GDP stands at $4.3 trillion.
But there was a high cost to that initial pact: Family life began to deteriorate. As more people began staying later at the office, and women began entering the workforce en masse, Japan's fertility rate started to plunge because its corporate structure wasn't built to accommodate both.
What started as a healthy 2.75 children per woman in the 1950sfell to 2.08by 1960. Today, more than 50 years later, Japan's fertility rate sits at 1.41.
Yoshida's plan worked, and yet Japan still clings to its intense work culture. Frances Rosenbluth, a Yale University political scientist, says the early competition between firms to attract top talent for life has cemented Japan's corporate structure.
"You are promoted gradually with your class," she tells Business Insider. "You're sort of on this escalator of very steady, slow promotion. And if you leave your job you have to start over somewhere else. It's not a fluid labor market where you can pick up a job at another place with the assets you've accumulated in human capital."
This has led to many Japanese couples having almost no free time. Men work16-hour days at times, while their wives may work similarly long hours. Some couples achieve a work-life balance by becoming entrepreneurs, allowing them to set their own schedules. But many fall victim to a system that dictates the roles men and women should play.
"Despite that there's an equal opportunity employment law, firms will find ways to avoid hiring and promoting women just for the economic reason," which is that women may leave to have kids, Rosenbluth says. "We call it statistical discrimination."
Rosenbluth says Japanese family life can't repair itself until companies make it easier to balance the demands of a job and home life. And since many firms don't see any incentive to do that, the government has a duty to offer tax breaks to those offer balance, Rosenbluth says.
Brinton takes a similar stance.
"No matter what you say, what you hear out of Prime Minister Abe's mouth, it's not about gender equality," she says. "It's about productivity of the economy and addressing the fact that Japan is one of the most rapidly aging societies in the world and they're going to run out of labor unless women have more babies."
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• A historian's TED talk on basic income got a standing ovation — here's what he said || 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. Message undelivered 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 Intel intc 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.
[Random Sample of Social Media Buzz (last 60 days)]
Advice to live by http://ift.tt/2s6fA2d #bitcoin #blockchain #cryptos #reddit || 1 BTC Price: BTC-e 2398.962 USD Bitstamp 2419.19 USD Coinbase 2501.00 USD #btc #bitcoin 2017-05-25 15:30 pic.twitter.com/AC5q6iXhnj || $2886.53 at 13:30 UTC [24h Range: $2800.00 - $2909.91 Volume: 8853 BTC] || Bitcoin $2283.62 Check it out at: http://ift.tt/2rv06GA #steem #photography #drone || $SING Using Bitcoin to Bypass Banking Roadblocks http://nnw.fm/a1UOo http://fb.me/1uV9X0H0o || Tonight's #Bitcoin price is $2980.00 via Chain & Thanks to @MoosePicks_ #bet anything you want at http://tinyurl.com/betmoose || #Bitcoin #cryptochan Иногда айтишники выходят из квартирыhttps://cryptochan.org/stream/id/1497536460/ … || 1 #BTC (#Bitcoin) quotes:
$2556.94/$2559.07 #Bitstamp
$2482.00/$2485.00 #BTCe
⇢$-77.07/$-71.94
$2559.27/$2585.28 #Coinbase
⇢$0.20/$28.34 || $2360.00 at 17:15 UTC [24h Range: $2242.62 - $2429.31 Volume: 20828 BTC] || Day traders start their career with a training program to get them to profitable trading fast $ell/฿uy http://bit.ly/2mdYD3U #Bitcoin
|
Trend: up || Prices: 2810.12, 2730.40, 2754.86, 2576.48, 2529.45, 2671.78, 2809.01, 2726.45, 2757.18, 2875.34
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-05-17]
BTC Price: 1839.09, BTC RSI: 72.96
Gold Price: 1257.50, Gold RSI: 57.43
Oil Price: 49.07, Oil RSI: 51.94
[Random Sample of News (last 60 days)]
U.S. regulators to review decision denying Bitcoin ETF: filing: By Trevor Hunnicutt NEW YORK (Reuters) - The U.S. Securities and Exchange Commission plans to review its decision last month to block the listing of the first U.S. exchange-traded fund tracking the digital currency bitcoin, a regulatory filing showed on Tuesday. A more-than-three-year effort by investors Cameron and Tyler Winklevoss to convince the SEC to allow it to bring the Bitcoin ETF to market stalled when the agency's staff ruled against them in March. 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. A fund holding the currency could bring more professional investors to the asset and push its price higher. Yet bitcoin presents a new set of risks to investors given its limited adoption, a number of massive cybersecurity breaches affecting bitcoin owners and the lack of consistent treatment of the assets by governments. Bitcoin (BTC=BTSP) traded up 1.7 percent at $1274.99 earlier on Tuesday. The digital currency has rebounded after initially plunging following the SEC's initial decision calling the digital currency market "unregulated." CBOE Holdings Inc's (CBOE.O) Bats exchange had applied to list the ETF and appealed to the commission to review its staff's decision. The exchange did not immediately respond to a request for comment. (Reporting by Trevor Hunnicutt; Editing by Chizu Nomiyama and Diane Craft) || How to Protect Yourself as Ransomware Attack Spreads Around the Globe: Consumer Reports has no relationship with any advertisers on this website. Hospitals and other healthcare providers across England were forced to cancel countless appointments and divert ambulances on Friday after a massive ransomware attack crippled their computer systems. In the hours that followed, the crisis spread to facilities in at dozens of other countries, according to news reports. FedEx was one of the big corporations affected by the attack, saying that "like many other companies, FedEx is experiencing interference with some of our Windows-based systems caused by malware. We are implementing remediation steps as quickly as possible. We regret any inconvenience to our customers.” Although this latest attack was massive in scope, ransomware threats often strike the personal computers of individual consumers, too. Here’s what you need to know and how to protect yourself. What Is Ransomware? Ransomware is a form of malware designed to steal money from individuals, businesses and other organizations by holding their data hostage. Imagine coming home to find a big padlock on your front door and a criminal standing next to it, demanding money to let you in. That's ransomware. Only instead of being locked out of your house, you're locked out of all your personal files. The next time you log on, your computer displays a ransom note saying your data has been encrypted, with instructions on how to pay to unlock it. Can Hackers Really Make Money Doing This? Oh, yes. Ransomware is big business. Ransoms can range from a few hundred to thousands of dollars and are usually paid in the "virtual" currency Bitcoin, which is nearly impossible to trace. In some cases, the longer you wait to pay, the higher the ransom becomes. According to cybersecurity firm Symantec's Internet Security Threat Report released in April, the number of new versions of ransomware uncovered during 2016 more than tripled to 101, while the number of ransomware infections the company spotted jumped 36 percent. Verizon's recently released 2017 Data Breach Investigations Report notes that ransomware accounted for 72 percent of the malware incidents involving the heathcare industry last year. Story continues Why Is This Particular Ransomware Attack Significant? Friday's attack affected at least 25 of the UK's National Health Service's hospitals and other organizations. But NHS says it was not the specific target of the attack. It does not appear that patient information was accessed, according to the organization, but its investigation into the matter is still in the early stages. Barts Health, which manages a handful of major hospitals in London and elsewhere, also confirmed it was experiencing a "major IT disruption." The malware arrived in encrypted files distributed by email. Once a computer was infected, the user received a note demanding $300 in bitcoin to restore access to patient information and other data on the device. British Prime Minister Theresa May called it an "international attack" affecting a "number of countries and organizations." CNN put the figure at 74 countries . Has This Ever Happened in the U.S.? Yes. One of the best known examples involved L.A.'s Hollywood Presbyterian Medical Center, which in February 2016 said it paid a ransom of $17,000 to get its computer systems unlocked. Because of the large amount of personal information collected about patients, hospitals and other healthcare providers are prime ransonware targets. If a doctor can't access information about a patient's medications and pre-exisiting conditions, it's virtually impossible to provide treatment, forcing the doctor and patient to reschedule appointments. And that can result in millions of dollars in lost productivity. So, even though medical computer systems are routinely backed up, and nearly all that data can be recovered and restored, hospitals often pay the ransom in an effort to speed things up and minimize financial losses. How Does Your Device Get Infected? Whether they involve a computer nework run by a business or hospital, or just an average person's personal PC, most ransomware infections happen when a user is lured by a bogus “phishing” email to a site that infects his or her computer, or by clicking on an attached file that secretly installs it. How can you avoid having your data taken hostage? You avoid ransomware the same way you avoid any malware infection: By being careful. While that's not always easy, there are things you can do to steer clear of problems. Don’t casually click a link inside an email; instead, type the web address directly into your browser. Never open an attachment unless you were expecting to receive it and you're certain of what it is. Don't spend time in the disreputable corners of the internet that specialize in risqué content or pirated movies; you can get infected simply by visiting a dodgy site. Never install software just because a web site tells you to do it. And always keep a backup copy of all your personal files on a separate drive or with a "cloud"-based backup service. That way, if the worst happens, you'll always have access to your most important data. More from Consumer Reports: Top pick tires for 2016 Best used cars for $25,000 and less 7 best mattresses for couples Copyright © 2006-2017 Consumer Reports, Inc. || Bitcoin Wallets Under Siege From 'Large Collider' Attack: A group called the “Large Bitcoin Collider” claims it can smash open bitcoin wallets by using a so-called brute force attack, which directs mass amounts of computer power at individual wallets in order to guess their private keys.
The project, which has been underway for months, relies on a distributed network of computers (similar to bitcoin itself), and invites anyone to participate-those who do could potentially share in the proceeds of the wallets cracked open.
A “trophy list” on the home page of Collider (an apparent reference to theHadron Collider) suggests the group has successfully opened over a dozen wallets, though only three had any bitcoin in them. It’s unclear if the group is motivated by financial gain or the cryptographic challenge of smashing wallets-the answer is probably both based on the site’s webpage and outside observers.
AQ&A liston the Collider’s website says robbing even a tiny amount from non-profit group like the Internet archive “would make you an unconditional jerk.” But it also suggests other wallets are fair game, and that proceeds would be divvied up among the Collider participants.
Meanwhile, others think the wallet-smashing endeavor is a fool’s errand, according toMotherboard, which first reported on the Large Bitcoin Collider. In this view, the project is too hard and the rewards too low and infrequent (as thisReddit commenter explains) to pay off.
But some speculate the goal of the project is not to rob a whole lot of wallets, but instead to strike a mother lode from a long-lost wallet from bitcoin’s early days:
“About 10% ofBitcoinswere created early, before 2012, and have never been traded. If somebody ever finds the key of the early lost Bitcoins, they’ll have a huge payoff, over a billion dollars. Speculation is that either “Satoshi Nakamoto”, whoever he is, is holding onto them for a big payoff, or somebody lost the private key for all those early Bitcoins. As the years go on, the second explanation seems more likely,” said the top comment on the siteHacker News.
Get Data Sheet,Fortunes technology newsletter.
As for the process of cracking open wallets, it involves the laborious task of creating private keys-which are dozens of characters in length-and trying them against existing bitcoin addresses. The Collider has so far created and checked3,000 trillionprivate keys, a researcher told Motherboard.
As for the legality of all this, it’s unclear. On one hand, the law is pretty clear that you are not supposed to join a conspiracy in order to rob people. But on the other hand, as the group’s website points out, “It is not illegal to search for colliding private keys.”
For bitcoin owners, the risk of the Large Bitcoin Collider performing a stick-up on your private wallet is pretty tiny for now. But if the process also results in someone creatinga collisionfor bitcoin’s general hashing algorithm-as happened with the longtime crypographic standard SHA-1 (cracked byGooglethis year)-that would spell a lot more trouble, though as one readerpoints out, bitcoin’s encryption algorithm can be upgraded.
This article was originally published on FORTUNE.com || 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. || Bitcoin soars past $1,700 for the first time: Bitcoin seems unstoppable, topping $1,700 for the first time on Tuesday. The cryptocurrency is up 5.71% at $1,758.45 a coin, as trade grinds higher for the 16th time in 18 sessions. It has gained nearly 50% during its run. Tuesday's gain comes without any obvious catalyst as traders await the US Securities and Exchange Commission's ruling on whether it will reverse its decision to reject the Winklevoss twins' exchange-traded fund . The SEC rejected two bitcoin ETFs back in March, saying it "is disapproving this proposed rule change because it does not find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest." Bitcoin recently has shrugged off China restricting trade , the SEC's rejecting of the two bitcoin ETFs, and threats from developers to create a " hard fork " that would split the cryptocurrency in two. But there has also been some good news for bitcoin, which has posted an 85% gain this year. At the beginning of April, Japan's financial regulators said bitcoin would be considered a legal payment method in the country, and days later Russia said it would consider bitcoin and other cryptocurrencies in 2018. Aside from 2014, bitcoin has been the top-performing currency every year since 2010. NOW WATCH: Animated map of what Earth would look like if all the ice melted More From Business Insider Bitcoin just soared to a new $1,600 high but the first investor in Snapchat thinks it could hit $500,000 by 2030 The price of Bitcoin just hit an all new high here's how easy it is to buy your first one Bitcoin is closing in on $1,500 || Inside the world's greatest scavenger hunt, Part 3: GISHWHES stands for the Greatest International Scavenger Hunt the World Has Ever Seen . Teams of 15 have one week to complete a list of 200 difficult, charitable, or hilarious tasks. They prove they’ve completed each item by submitting a photo or video of it; their $20 entry fees go to a charity, and the winning team gets a trip to an exotic location. This is Part 3 of our five-part report on the hunt. Part 1 • Part 2 • Part 3 • Part 4 • Part 5 Part 3: GISHWHES for Good Each August, as the world’s largest scavenger hunt is under way, the general public is usually unaware—except when teams perform their tasks in public places. Recent tasks have included: Hug someone you love, motionless, in a very crowded location, for 20 minutes without moving—and time-lapse it. Stand in a crowded public place. Ask people to sign a petition to Save The Endangered Unicorns. Get everyone on a subway, bus, or train car to sing “Over the River and Through the Woods.” There must be at least 8 passengers (random commuters, not your friends). But each year, the list also includes challenges to perform acts of kindness. For example: Write and mail a thank-you letter to a teacher or mentor from your past that you never sufficiently thanked. Have a tea party with a special-needs child or pediatric cancer patient, dressed as a character from “Alice in Wonderland.” More than 10% of veterans returning from war suffer post-traumatic stress syndrome. Post an image of you next to an armed serviceman, with you holding up a sign with a message of gratitude to them and soldiers worldwide. But for hunt creator Misha Collins (a star of the WB series “Supernatural”), neither GISHWHES nor acting were part of his life’s original master plan. “[After college,] my objective was to go to law school and somehow try to make a positive impact on the world,” he says. “I thought probably the best way to do that was to go into politics. This was, you know, my 20-year-old brain. “I was interning at the White House, but I just didn’t love the machine that I saw. I was very naive. I was exposed to this weird environment of, like, nepotism and yea-saying that I wasn’t inspired by.” Story continues So he switched paths. “I had this great get-rich-quick/make-an-impact scheme: ‘I’ll just go to Hollywood and I’ll become an actor and I’ll get famous enough that I can then leverage that celebrity into doing things.’” Off he went to Los Angeles. “I thought, like, I’d be the next Leonardo DiCaprio in a couple of months. It took me 10 years to get on a TV show. “ And once I’d achieved a certain modicum of, you know, C-list celebrity, that desire to try to use my celebrity for some other purpose resurfaced.” GISHWHES was born: a list littered with acts of kindness that tens of thousands of players attempt to fulfill every August. Crowdsourcing for refugees In the most recent hunt, item 175 is a perfect example: “#175. According to the United Nations, 4.8 million people have fled Syria since the civil war began in 2011. Many of these families are living in tent cities with few resources and difficult lives. Let’s change the lives of one family that’s in particularly dire circumstances. The GISHWHES Item is to create a fundraising page for your team, where family, friends and others can donate.” “We identified one particular family with a heartbreaking story. The mom had been shot in the spine tending to her garden. She was paralyzed, she’s been in a bed in this tent for two years. And we said, let’s just change this one family’s circumstances,” Collins says. “Let’s get them a house, and let’s get her medical care, and let’s pay for the kids’ school. And I woke up the next morning to see, oh my god!” By week’s end, GISHWHES teams had raised close to $250,000. “So we added another family, and another and another—by the end of the hunt, we materially changed the lives of four different families. We’ve been getting photos from these families, like them moving into their apartments that we just paid for. It’s just such a lovely thing to be a part of.” The space balloon, continued For Team Raised From Perdition, though, there are 174 other items to complete if they hope to win. My daughter, Tia, also participated in GISHWHES. Several days have passed since she launched a weather balloon into space , bearing a child’s note to the universe. It came down into a nearly inaccessible Connecticut forest; she’s unable to retrieve it even after hours of searching. Item 175 is worth more points than anything else in the hunt; for her team, it will have to be marked “incomplete.” But teammate Christine has no intention of giving up on the balloon’s precious footage. She tells Tia that she’ll just drive over to the forest to help look for it. From Chicago. Fifteen hours later, she, her husband Vince, and their children arrive, laden with gear. After hours of shaking, throwing things at, and yanking at trees, Christine’s 13-year-old son Josh climbs the tree. After an hour and a half, he dislodges the balloon. Item 175 is in the can! The Haves and the Have-Nots Not everything on the GISHWHES list is as exasperating as lost space balloons. Item 15, for example, sounds like fun: #15. This is the final showdown between the Haves and the Have-nots. Show up at Dolores Park in San Francisco, dressed either as executives or in blue-collar apparel. At exactly 12:10 PM, the ultimate water balloon battle will ensue. Nearly a thousand Gishers show up. They stand in two long lines, facing off across the park. They’ve taken the day off from work, driven for hours, even flown to San Francisco for this battle. At the stroke of noon, GISHWHES volunteer Tone Rawlings raises her megaphone, ready to announce the open-fire. But at that moment, a San Francisco park ranger runs onto the field. Ranger: “Hold on! Hold on! You can’t do this! Not without a permit! Anytime you have X amount of people in a park, you have to have a permit.” “This is like a 10-minute situation for charity,” Tone pleads. “It’s a flash-mob type situation.” “Yeah, you guys can’t do it without a permit.” (A CBS News camera picked up the audio.) The two armies can’t hear this, but they see that there’s a problem. It’s not the first time that GISHWHES stunts have tested the patience of society’s overseers. Will they be deprived of their balloon battle because of paperwork? Suddenly, a second park manager arrives. Incredibly, he’s persuaded. “Here’s the thing,” he says. “You have enough people to get this cleaned up?” “I will personally guarantee it,” Tone says. “You should have a permit. But if you can make an announcement like that, and get everyone to agree, then OK.” Tone lifts her megaphone. “I know and you know that you guys are going to be responsible for these pieces of balloon when this fight is over! Is that right?” The crowd roars in agreement. “This can’t happen…unless you guys repeat after me: I solemnly pledge to pick up every last piece of balloony plastic thing on the ground! And I will throw it all away in the proper receptacles!” The crowd roars. “Haves and Have-Nots… Commence the water-balloon melee!” The battle is on. This time, at least, the forces of merry mayhem win the day. Part 1 • Part 2 • Part 3 • Part 4 • Part 5 More from David Pogue: Inside the World’s Greatest Scavenger Hunt: Part I Inside the World’s Greatest Scavenger Hunt: Part 2 The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue tested 47 pill-reminder apps to find the best one David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’s davidpogue.com . On Twitter, he’s @pogue . On email, he’s [email protected]. You can read all his articles here , or you can sign up to get his columns by email . || Altcoin Crowdsale ICO Begins New Offering Under Symbol "ALT": VANCOUVER, BC / ACCESSWIRE / March 29, 2017 / First Bitcoin Capital Corp.(OTC PINK: BITCF) launched its first Initial Coin Offering (ICO) today. The Company foresees a major shift coming that will overnight witness the emergences of altcoins surpassing Bitcoin in overall market cap. Investopedia.com defines "Altcoin" as a combination of two words: "alt" and "coin"; alt being short for alternative and coin signifying currency. Thus, together they imply a category of cryptocurrency that is alternative to the digital currency, Bitcoin. In order to capitalize on the pending shift, the Company has wasted no time in launching its first ICO choosing a name to capture the maximum exposure to this emerging trend calling it "ALTcoin" bearing the symbol " ALT ." In conjunction with this new ICO (also sometimes known as ITO for Initial Token Offering), the company is preparing to launch the AltCoinMarketCap.com - website for worldwide tracking capitalization of various alternative cryptocurrencies, as a social platform for cryptocurrency enthusiasts and as a new, potential income source. Crypto Coin speculators may already begin acquiring ALT using Tether (USDT) as the medium of exchange. Early participants will automatically receive approximately 1.25 ALT for each USDT sent to the company's Omni wallet, Bitcoin address: 1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS In order to insure receipt of the ALT upon transferring USDT to the company's wallet address, speculators will need to use their own personal Omni Wallet address and not an exchange provided wallet as the exchanges may not be prepared to credit those ALT to the senders account. After 6 confirmations, the ALTcoin ( ALT ) will arrive in recipient's personal Omni Wallet. This process is fully automated and requires no manual processing by the issuer of ALT . To participate, kindly see further details at: https://www.omniwallet.org/assets/details/149 The early bird bonus originally at 25%, will be gradually reduced to 20% the second week, 15% the third week, 10% the fourth week and 5% the final, fifth week, when the ICO closes. A bonus of 10% of all coins sold will belong to The Company while the 90% will be held by the public. It is rare to find an ICO that doesn't amass a greater percentage to the issuers and organizers. Story continues Management expects to witness ALT listed on several exchanges in the immediate future, including its subsidiary, COINQX.com so that those unable to send USDT to acquire ALT may also participate and so that secondary trading may ensue. Cryptopia is the first Bitcoin exchange outside OMNIDEX to list ALT . ALT utilizes the same Omni protocol as our recently launched Bitcoin Unlimited Futures, which is now trading on 3 exchanges under the symbols XBU on OmniDEX and CoinQX and as XB on C-Cex. We chose USDT as a medium of exchange for speculators to acquire ALT since it is the most actively traded Omni asset with tens of millions of coins in daily volume, trading in 11 currencies on Poloniex cryptocurrency exchange, as well as many other exchanges such as CoinQX.com and OMNIDEX exchanges. 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. 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 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. || PayPal's strategic risks pay off: (BI Intelligence)
This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, pleaseclick here.
PayPal beat analyst expectations and grew its revenue to just under $3 billion, up 19% year-over-year (YoY) in Q1 2017. Those results, which were announced in the firm’s earnings presentation, position PayPal on a strong upward trajectory, particularly as it stretches into new technologies and segments of the financial ecosystem in a move to become an omnipresent player in its users’ lives.
The firm is growing, but still managing to increase engagement.
• PayPal added customers while growing its volume. PayPal added 6 million new customers in Q1, bringing its total to 203 million active users. That’s up from the 4.5 million that it added in the same quarter last year, and puts it on track to add 20 million or more in 2017. The firm also managed to hit $99 billion in total payment volume (TPV), relatively flat sequentially but up from $81 billion last year, marking 25% growth.
• The firm is growing organically, rather than simply by scale. Customer growth is still outpacing TPV gains, albeit slightly. But customer engagement is growing — average quarterly interactions grew to 32 from 28 last year in Q1 — customers are using PayPal on a more regular basis, gains that could magnify over time.
These are strong indicators for PayPal’s health down the line.
• Since last summer, PayPal has been focusing on scale, rather than on revenue. As an example, the firm has been entering strategic partnerships with issuers, card networks, and other mobile payments players. These partnerships have allowed PayPal to introduce choice for customers and offer more flexibility for users to opt to pay with a credit/debit card, rather than bank accounts, which funded the lion’s share of accounts in the past. That could be more expensive for PayPal, since card-based transactions have higher fees than bank-based transactions. But it’s pleasing and convenient to customers, which could bring its own gains.
• So far, that risk is paying off. Choice is increasing customer adds while driving up average spend per consumer, while the impact on margins falls safely within expectations. As PayPal continues to build partnerships that help it scale, customer and spend adds could outweigh revenue drags. And that impact could be magnified as the firm expands into new areas, like bill pay, better monetizes services like Venmo, and invests in up-and-coming mobile technology.
Peer-to-peer (P2P) payments, defined as informal payments made from one person to another, have long been a prominent feature of the payments industry.
That’s because individuals transfer funds to each other on a regular basis, whether it's to make a recurring payment, reimburse a friend, or split a dinner bill.
Cash and checks have historically dominated the P2P ecosystem, and they’re still a popular tool. But as smartphones become a primary computing device, top digital platforms, like Venmo and Google Wallet, have enabled customers to turn away from cash and make those payments digitally with ease. Over the next few years, though overall P2P spend will remain constant, a shift to mobile payments across the board and increased spending power from the digital-savvy younger generation will cause the mobile P2P industry to skyrocket.
That poses a problem for firms providing these services, though. Historically, most of these players have taken on mobile P2P at a loss because it’s a low-friction way to onboard users and won’t catch on unless it’s free, or largely free, to consumers. But as it becomes more popular and starts to eat into these firms’ traditional streams of revenue, finding ways to monetize is increasingly important. That could mean moving P2P functionality into more profitable environments, leveraging existing networks of friends to encourage spending, or offering value-added services at a nominal fee.
Jaime Toplin, research analyst forBI Intelligence, Business Insider's premium research service, has compileda detailed report on mobile P2P paymentsthat examines what’s driving this shift to mobile P2P and explains why companies need to find a way to capitalize on it quickly. It discusses how firms can use the tools they have to gain in the P2P space, details several cases, and evaluates which strategies might be the most effective in monetizing these platforms.
Here are some key takeaways from the report:
• Consumers still want mobile P2P services, and they’re turning to them. Individuals pay their peers on a regular basis, and as smartphones are increasingly used as computing devices, these consumers look to such services for fast and easy ways to pay.
• Monetizing P2P is more important than ever. Initially, P2P was a valuable onboarding tool for companies, and when it was still a small segment, taking it on at little value or a loss didn’t have major implications. But as volume grows and user bases scale fast, finding ways to monetize quickly should be a priority for firms looking to stay ahead.
• New technology could put some apps ahead of their peers. P2P continues to rely on networks, especially for informal, social transactions. But rather than having a large network, it’s becoming important for firms to understand their user bases and the networks within them. This means that chat apps, and leveraging bot and AI technology, may offer a distinct advantage.
In full, the report:
• Forecasts the growth of the P2P market, and what portion of that will come from mobile channels, through 2021.
• Explains the factors driving that growth and details why it will come from increased usage, not increased spend per user.
• Evaluates why mobile P2P isn’t profitable for companies, and details several cases of attempts to monetize.
• Assesses which of these strategies could be most successful, and what companies need to leverage to succeed in the space.
• Provides context from other markets to explain shifting trends.
Interested in getting the full report? Here are two ways to access it:
1. Subscribe to anAll-Accesspass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. >>START A MEMBERSHIP
2. Purchase & download the full report from our research store. >>BUY THE REPORT
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• THE MOBILE PAYMENTS REPORT: Market forecasts, consumer trends, and the barriers and benefits that will influence adoption || What You Must Know Before Subscribing to a VPN: When the U.S. Congress voted recently to overturn a Federal Communications Commission (FCC) rule requiring internet service providers (ISPs) to get a customer's permission before selling personally identifiable information, that kicked off a land rush to find virtual private network (VPN) providers to protect consumers' online privacy. There are literally hundreds of VPNs to choose from, however, and if you're not sure what these do and what they don't do, you could easily end up with a VPN that doesn't add much to your privacy except another subscription fee.
The idea of a VPN is quite simple: it provides a secure (encrypted) tunnel between your device and a website, bypassing the traffic logs kept by your ISP. For example, if your ISP is in New York City, a VPN service allows you to connect with any of several servers anywhere in the world, making it look to the website that the connection is being made from one of those servers and not the ISP you use in New York.
ALSO READ:Nearly 400 2017 Data Breaches Have Exposed More Than 7 Million Records
Your ISP can't keep a useful log of your VPN activity because it doesn't know who requested the data or from where the requested data is coming. But your VPN knows, and that's the first thing you want to learn about any VPN provider: does the VPN keep traffic logs and, if so, what does it do with them?
Some VPNs do keep traffic logs in order to provide themselves with legal protection in the event of a government request. Others keep some minimal data in order to help maintain their servers. Still others, sadly, collect the data and sell it to third parties. Because that's what you are probably trying to avoid, read the fine print and be sure to choose a service that states categorically that it does not keep logs, making sure to specify exactly the logs they don't keep. Be especially sure that the ISP does not keep activity or connection logs.
ALSO READ:14 Million Credentials Stolen from US Universities for Sale on Dark Web
A good general overview of online privacy and VPNs is posted at Krebs on Security. More comprehensive tips on selecting a VPN, with more details and a comparison chart for nearly 200 VPN providers is available at That One Privacy Site. Here's a much shorter version of some of the site's guidelines:
• Beware of VPN review websites, which are nearly always paid reviews. Also look more carefully at affiliate VPN programs.
• Be aware of where the VPN service's servers are located and where in the world you will be connecting to the VPN.
• Check on payment methods, such as Bitcoin, cash or anonymous gift cards, that allow you to maintain your privacy.
• Choose a VPN that maintains its own first-party domain name server (DNS) that doesn't leak, and check it to make sure.
• Choose a VPN that provides an IPv6 DNS server that is only reachable through a VPN tunnel, and then test it to make sure that's true.
• Choose a VPN that has strong data and handshake encryption.
Deciding if you want a VPN and the features of the VPN that are most important to you will take some time, and it will come with a price of around $10 a month. It's up to you to make sure you're getting the privacy protection you're paying for.
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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.
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[Random Sample of Social Media Buzz (last 60 days)]
One Bitcoin now worth $1142.65@bitstamp. High $1146.42. Low $1111.00. Market Cap $18.574 Billion #bitcoin || One Bitcoin now worth $1447.65@bitstamp. High $1481.73. Low $1388.00. Market Cap $23.604 Billion #bitcoin || Bitcoin Hard Forks May Become Safer With User Voting - http://www.bitcoinsahoy.com/bitcoin-hard-forks-may-become-safer-with-user-voting/ … || Try festac77 at https://LocalBitcoins.com/ad/382244?ch=w7m … only £1,247.00 per BTC. (BPI +4.67%) #buy #bitcoin #banktrans || Exscudo ICO launches on April 25, 18:00 GMT. Learn more: http://exscudo.com/ico/ #Exscudo #ICO #Blockchain #Bitcoin... by #h2002alpic.twitter.com/aa6ofUzE0m || 1 #BTC (#Bitcoin) quotes:
$1175.28/$1175.52 #Bitstamp
$1180.00/$1181.01 #BTCe
⇢$4.48/$5.73
$1179.27/$1192.56 #Coinbase
⇢$3.75/$17.28 || Bitcoin Earning School Maxed Out Get Spillover wit http://ift.tt/2pbCOUq || #Monacoin 14.2円↓[Zaif] 14.81円↑[もなとれ]
#NEM #XEM 8.31円↓[Zaif]
#Bitcoin 177,785円↓[Zaif]
05/06 00:00
口座開設はこちらで！ https://goo.gl/31dyoO || $1229.86 at 01:45 UTC [24h Range: $1199.00 - $1247.15 Volume: 4246 BTC] || 1 #BTC (#Bitcoin) quotes:
$1203.55/$1204.24 #Bitstamp
$1220.00/$1220.52 #BTCe
⇢$15.76/$16.97
$1196.13/$1208.31 #Coinbase
⇢$-8.11/$4.76
|
Trend: up || Prices: 1888.65, 1987.71, 2084.73, 2041.20, 2173.40, 2320.42, 2443.64, 2304.98, 2202.42, 2038.87
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-07-27]
BTC Price: 654.35, BTC RSI: 48.74
Gold Price: 1326.60, Gold RSI: 53.70
Oil Price: 41.92, Oil RSI: 34.27
[Random Sample of News (last 60 days)]
Silver ETFs Might be due for Pullbacks: The iShares Silver Trust (SLV) and ETFS Physical Silver Shares (SIVR) are among this year’s best-performing commodities exchange traded products, but with investors looking for safer assets following the Brexit outcome, some commodities market observers see silver as ripe for a near-term retreat.
Silver and other precious metals enjoyed safe-haven demand as the equities market plunged into a correction. The metal also maintained its momentum as the Federal Reserve lowered its interest rate outlook to only two hikes this year from a previously expected four rate hikes. Additionally, with the dovish Fed stance, the U.S. dollar weakened, which made USD-denominated silver cheaper for foreign buyers and a better store of value for U.S. investors.
Related:Analysis: Silver ETFs Are Outshining Gold
Both SLV and SIVR are bullion-backed silver ETFs – the funds’ shares represent a physical holding in silver bars stored in London, U.K. bank vaults. Potential investors should be aware that physically backed ETFs are taxed as collectibles at a rate of 28% instead of long-term equity rate of 15%.
On Monday, “we noted that a push higher would likely be difficult for the metal given resistance between the 17.80s and 18.00 vicinity. As it turned out, the third lower high was created at 17.86 before shoving back lower,” reports DailyFX. “It might not turn into a rout, but a clean undercut into the upper 17.50s on the hourly should lead to near-term weakness towards 17.30/25. If selling becomes aggressive then a move could develop into strong support between 17.07 and 17.13.”
Trending on ETF Trends
11 Surging Silver ETFs as Two-Year High Looms
A Gold Boon for these Glistening ETFs
As Bank of England Mulls Rate Cuts, More Pound Punishment Likely
As Q3 Begins, Gold Miner ETFs Keep Shining
Winklevoss Bitcoin ETF Will Trade on BATS
Looking ahead, total global installed photovoltaic power capacity is projected to increase by about 150% to 605 gigawatts by 2020, according to Bloomberg New Energy Finance.
Related:Soaring Silver ETFs to Snap Up as Metals Shine
However, increased technological efficiency has reduced the amount of silver required in newer solar panels. The amount of silver used in solar cells has been reduced by 5% to 6% every year. Nevertheless, Andreas Liebheit, head of the photovoltaic business at Heraeus, the German technology group, argued that the diminished requirements have been offset by growth in the overall market of 20% per year.
“A convincing break of the top-side trend-line puts this view at risk, but again, as said yesterday, there isn’t much room for silver to run before running aground with resistance,” adds DailyFX.
Traders looking to profit from silvers downside can consider the ProShares UltraShort Silver ETF (ZSL)
For more information on the silver market, visit oursilver category.
iShares Silver Trust
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. || How to Hedge Market Turns with Inverse ETFs: With the equities market exhibiting greater bouts of volatility, exchange traded fund investors can utilize inverse or bearish strategies to help protect against the turns and limit the negative effects of any further drawdowns.
On a recent webcast,Managing Market Pullbacks with Inverse ETFs, Sylvia Jablonski, Managing Director and Head of the Capital Markets & Institutional Strategy Team at Direxion, explained that inverse ETFs typically replicate the inverse returns of a benchmark on a daily basis, allowing investors to easily gain short or bearish exposure to various areas of the market.
Jablonski pointed out that traders have typically used inverse ETFs to maintain momentum strategies, capitalize on short-term opportunities or hedge against unforeseen risks.
“Inverse ETFs can provide an easy means of short-term hedging for long-term investors,” Jablonski said.
However, potential investors should be aware of the risks associated with these inverse products. Specifically, Jablonski reminded advisors that these ETFs rebalance on a daily basis, so the inverse funds may not perfectly reflect their intended strategies over long periods due to compounding issues as a result of the daily rebalancing.
In Trending markets that move consistently in a single direction, compounding may benefit inverse ETFs. However, in more volatile markets when securities experience greater oscillations, an inverse ETF may underperform its intended -1x, -2x or -3x multiples compared to a benchmark..
Related:VIX, Bearish S&P 500 ETFs to Hedge Uncertainty
Jablonski also pointed to a number inverse ETF strategies that could help traders hedge against potential market risks ahead. For instance, the he Direxion Daily CSI 300 China A Share Bear 1x Shares (CHAD) ,Direxion Daily S&P Biotech Bear 1X Shares (LABS), Direxion Daily Financial Bear 1x Shares (FAZZ) , Direxion Daily Energy Bear 1x Shares (ERYY) , Direxion Dialy Technology Bear 1x Shares (TECZ) and Direxion Daily S&P 500 Bear 1x Shares ETF (SPDN) provide inverse or -100% exposure to some of the more volatile areas this year.
On a survey of financial advisors who attended the webcast, 26.9% of respondents pointed to oil & gas as the area that could offer the most tactical opportunities in the next 6 months, followed by 16.4% pointing to Europe, 15.8% looking to gold related and 14.0% watching financials.
Trending on ETF Trends
11 Surging Silver ETFs as Two-Year High Looms
A Gold Boon for these Glistening ETFs
As Bank of England Mulls Rate Cuts, More Pound Punishment Likely
As Q3 Begins, Gold Miner ETFs Keep Shining
Winklevoss Bitcoin ETF Will Trade on BATS
Tom Dorsey, Co-Founder of Dorsey, Wright & Associates, pointed to the relative strength technical indicator to help financial advisor and investors to gauge a securities’ momentum in the market.
“This reading is plotted on a point and figure chart, which then tells us whether we can expect that stock or ETF to outperform or outperform the base index,” Dorsey said.
Relative strength is a type of momentum investment technique that compares the performance of a security to that of the overall market. The indicator calculates which investments are the strongest performers compared to the overall market and suggests further investments for purchase.
Related:Navigating Risks of Leveraged, Inverse ETF Play
Along with the momentum indicator, investors can also utilize other trend following techniques. Jablonski pointed to a simple trend following strategy around the 200-day moving average indicator. For example, if the S&P 500 is trading above its 200-day, go long the S&P 500. On the other hand, if the index dips below its 200-day, go short or inverse S&P 500.
Financial advisors who are interested in learning more about hedging strategies for a volatile market ahead canwatch the webcast here on demand. || 25 Payment Tools for Small Businesses, Freelancers and Startups: Billing your customers is very important. Even more critical is getting paid for those bills. Thanks to the ongoing evolution in the payments industry, there are more payment tools and platforms to choose from to help find the perfect option for your business -- based on how many payments you receive, the type of business you have and, of course, your budget. I’ve worked with many payment companies over the past 10+ years. I’ve learned that not every payment company is created equal. For that reason, I’ve compiled a list of 25 payment tools to consider for your business. These options will expand the number of payment methods you can accept which will attract more clients, facilitate faster payment, and ensure a secure environment for both parties during every transaction you make. 1. Due Due is a payments solution company that offers credit card processing and international credit card processing. You get a low flat-rate transaction fee of 2.7 percent for credit card processing, including global credit card payments . It features a digital wallet tool as well as the ability to handle ACH payments. The company has integrated PayPal and Stripe for further payment options. Due also offers time tracking and online invoicing. 2. PayPal PayPal has become one of the most trusted payment platforms online. It was one of the first that provided freelancers with a way to accept credit card and debit card payments without having to partner with a credit card processing company and face high monthly and transaction fees. Over time, PayPal has evolved into offering personal and business accounts, its own debit and credit card, a revolving credit line and business loans. It allows you to accept payment in foreign currency and then handles the currency exchange process for you for a minimal fee. Now, PayPal is beginning to accept Bitcoin so that you can make and accept cryptocurrency payments. Related: 20 Online Invoice Solutions That Offer More Than Just Invoicing 3. Braintree As part of PayPal, this company has bolstered the company’s payments expertise and provided more options for you to pass onto your customers -- like Venmo, Apple Pay, Android Pay, Bitcoin and debit and credit cards. There are no extra fees, including no fees for refunds, inactivity or failed transactions. You only pay for those transactions you actually carry out. After your first $50,000 in transactions, you will pay as little as 2.9 percent + $.30 per transaction . Story continues 4. Dwolla Dwolla is a developer-friendly payments system that lets you customize how you make and receive recurring, bulk or single payments. Offering a free account with no transaction fees, it only links to a U.S. bank account or credit union account. There is no fee to set up your account, plus there are no transaction fees. However, Dwolla is strictly made for making payments within the U.S. 5. Authorize.net Authorize.net is a payments gateway that offers domestic and some international transactions for small to medium-sized businesses. You can accept all major credit cards, signature debit cards, echecks and digital payment options like Apple Pay, PayPal and Visa Checkout. Other features include automated recurring billing, a free suite of security and fraud prevention tools and the ability to synch with your Quickbooks. Although there are no annual renewal or hidden fees involved, there are some other fees to consider. There’s a $49 set-up fee, $25 per month gateway fee, and 2.9 percent plus $0.30 per transaction. 6. 2Checkout 2Checkout focuses on global payment acceptance, providing you with a secure and compliant gateway to do business in nearly every country around the world. It offers both online and mobile platforms for payments, including numerous language and currency options, recurring billing, hosted checkout and fraud protection. You can accept all major credit and debit cards as well as PayPal, and then get paid by bank or wire transfer. Transactions are 2.9 percent plus $0.30 per transaction. While there are no set-up or monthly fees, you will have fees like an extra 1 percent added on to each transaction from outside of the U.S., 2-5 percent charge above daily bank rate on currency conversion and a $20 charge back fee. 7. Square Square is a credit card processing company that provides a way for small businesses like yours to accept credit cards without carrying the burden of all those fees that typically get added in by other credit card processors. You will be able to accept credit cards anywhere and process gift cards with their free magstripe reader that works with the Square app on smartphones and tablets. Features include fraud protection and deposits on demand with payments received in your bank account in one to two business days. You only pay per transaction with no set-up or monthly fees. The fee is 2.75 percent per swipe for all major credit cards. 8. Stripe Stripe was built for developers to create custom payment solutions, but it can also be used in its basic form. Even as a standardized payment platform, it is packed with features like integrated mobile payments for iOS and Android, checkout, the ability to add coupons and recurring billing. As a global payment option, it works with over 100 currencies, as well as Bitcoin and local payment instruments like Alipay. You can also accept digital payment services like Apple Pay, Android Pay and AmEx Express Checkout. 9. Wepay Wepay is an online payments processing platform that is completely customizable. Its standard payments solution is fully integrated into your business, offers fraud prevention and fraud detection tools, direct bank transfer, recurring payments and multi-party payments, all major credit cards and ACH payments. Credit card processing fees are 2.9 percent plus $0.30 per transaction while ACH payment processing is 1 percent plus $0.30 per transaction. Charge backs are $15. Related: 5 Features to Look For While Selecting the Right E-Payment Model 10. Popmoney Popmoney is a way to send, request and receive money within the U.S. from bank account to bank account or debit card. It has a limited amount of daily and monthly funds that can be sent and received, making this ideal for smaller sized transactions. This highly secure payment solution is ideal for collecting money from groups or for recurring payments. With a debit card, you can receive the funds in as little as one business day while a bank account may take up to three business days. There is one small fee of $0.95 for each transaction, making this a low-cost payment option. 11. Heartland Payment Systems Although they do not list their pricing, they are known to be a competitively priced payment processing provider that focuses on service, security and transparent processes. They promise no fees and next-day funding on a wide range of payments, including major credit and debit cards, EMV, gift cards, PayPal, Apple Pay, Samsung Pay and Android Pay. They offer payment processing on any type of device and focus on EMV, tokenization and end-to-end encryption to deliver one of the most robust security solutions for card processing. They have other services for businesses, including payroll, POS, loyalty programs, ecommerce and billing solutions, mobile payments, gift cards and more. 12. Cybersource Cybersource is an online payment processing company that offers a wide array of services, including gateway and processing connections, digital wallet and digital payments, debit and bank transfers, payer authentication, payments security, global tax calculation and more. It allows you to take and make payments in 190 countries and 40 currencies across all major and local payment cards as well as Alipay, PayPal, Visa Checkout, PayEase, Apple Pay and Android Pay. It does not list pricing but instead offers a custom program for businesses of all sizes. 13. Digital River Digital River is positioned as a true global payment processing company, working in 190 countries, including many emerging countries like China and India, as well as in 170 transaction and display currencies. It offers local and global card processing as well as transactions with retail and Internet banks. Its pricing is available by contacting the online payment processing company and working with them to develop a customized program for your business. 14. ecoPayz ecoPayz offers personal, business and merchant global payment processing services that do not require any recipient bank accounts. This is because this payments solution uses its own branded ecoCards that have a Visa or Mastercard logo and work as payment cards for transactions in 45 currencies. There is instant funding and free set-up for an ecoAccount that uses these virtual payment cards. 15. Creditcall Creditcall links to all U.S. processors and UK acquirers, offering online and mobile payments for your business. It uses an EMV-ready payment gateway and virtual terminal to keep your transaction costs low. Creditcall allows you to customize your hosted payment page to seamlessly integrate it into your existing website. 16. Elavon Converge Elavon Converge offers a number of services, including a solution for small businesses. With an online and mobile option, Elavon Converge provides a way to process credit cards, debit cards, electronic gift cards, electronic checks, Electronic Benefit Transfer (EBT) and mobile wallets like Apple Pay. The payment processing provider is also preparing its customers for the EMV transition. Pricing is also available by calling the company to get a customized payment processing program that fits your small business. 17. Neteller Neteller is a global payment processing company that helps businesses work with customers in 200 countries and across 15 languages. You will be able to accept a wide array of credit and debit cards and local payment options, including cryptocurrency like Bitcoin. Along with many deposit options, Neteller offers businesses instant payouts on these transactions. Related: 4 Tips for Revving Up Revenue When You Need It The Most 18. Nochex Nochex is a UK credit card processing company that was established to help companies in the UK work with consumers and businesses around the world, accepting payments from all the major debit and credit card companies. It offers free PCI and anti-fraud tools along with low fees and transparent pricing. 19. Payoneer Payoneer specializes in the ability for a business to make mass payments to customers all over the world, but it also offers a payment processing solution. You will be able to work with 200 countries and 150 currencies. Payoneer lets you receive and withdraw funds through deposit in your local bank account, use of the Payoneer Prepaid Mastercard, or purchase through an online store affiliated with Payoneer’s network. 20. PayXpert PayXpert is a globally known payments processing company that offers transaction rates as low as 1.5 percet based on volume and risk. They handle more than 40 currencies across 40 countries and work with 150 payment solutions. Features include a payment gateway, merchant account services, mobile and online payment functionality, credit card processing, data encryption and a virtual terminal. 21. Worldpay As a global payments system solution, the company offers numerous POS, online and mobile payment processing options. Its online payment solutions include shopping carts, payment gateways, a virtual terminal and recurring payments. You can accept all major payment types, including credit, debit, gift and direct debit cards. The pricing is also customized to fit your business needs. 22. Payment Depot Payment Depot operates as a membership solution to offer businesses of all sizes access to wholesale credit card processing. It works for all major credit cards and delivers one of the lowest transaction rates available. For its basic membership, which costs $29 per month or $299 per year, you can process up to $20,000 per month and receive a rate of $0.25 per transaction. As your transactions grow in value per month you can tap into even lower transaction rates, from $0.15 all the way down to $0.05 per transaction with the highest volume of transaction value. 23. Payline Data Payline Data is a credit card and debit card company that offers low rates for small businesses, helping them grow on a budget. Its simple plan is interchange plus 0.5 percent and $0.15 per transaction for online credit card processing for under $5,000 per month. The other plan is for those who do more than $5,000 per month. It is $15 per month plus a $0.10 per transaction as well as interchange plus 0.2 percent. 24. Charge.com Charge.com offers many types of credit card processing services, including one made for small businesses. It comes with no set-up fees, low processing fees, free software and shopping card, no hidden fees and SSL secured transactions. Charge.com lets you process all major credit and debit cards online and through a mobile device like a tablet or smartphone. 25. Moneris Solutions Moneris Solutions is a U.S./Canadian payments processing company that offers a wide range of tools, including EMV solutions, online and mobile payments, gift card and loyalty programs, echecks, ACH direct deposit, recurring payments and even payroll processing. There are custom pricing models for businesses to match business size, volume and budget. A world of online payment options for your business. This is just a sampling of the growing number of payments companies that include credit card processors, global payment processing firms, online payments providers, digital payment companies and cryptocurrency payment businesses. As you build out your business, you’ll be able to offer a wide range of payment options, including ecash and echecks, digital currency and traditional payments across a world of currencies, and credit and debit cards. || Europe's first regulated bitcoin product launches in Gibraltar: By Jemima Kelly
LONDON, July 25 (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's Novelty Is Spent: If drawing a stack of Benjamins on fast-food napkins and praying they spring to life sounds like your idea of a good time, consider the urban myth behind bitcoin -- the enigmatic digital currency that exists online, has no central bank or even a known founder. Here's what we know, at least from the fabulist perspective: Satoshi Nakamoto is said to have invented bitcoins in 2008 after he sold a vintage McDonald's paper napkin online and the buyer defrauded him out of several thousand bucks. Since then, Nakamoto has been pegged as anyone and everyone from an Irish grad student to a reclusive Hungarian American. And as the legend grows, so grows the legal tender. Today you'll find an estimated 15 million bitcoins in circulation, worth about $872 million. But putting your money into bitcoins isn't a slam dunk (even if the Sacramento Kings accept them). That's because bitcoin fever -- much like the infamous "Tulip Mania" of 17th Century Holland -- has died down. Way down. Observers say once-smitten financial reporters and publications now focus elsewhere. "Bitcoin is actually unchanged since many years ago: What is different is the focus of the media," says Peter Leeds, the author of "Penny Stocks for Dummies." In it, Leeds mentions bitcoin as an example of what he calls "an investor stampede." [See: The 9 Best Investors of All Time .] "Much -- almost all -- of bitcoin's rise in value was driven by the standard media cycle," Leeds says. "And as the story became old news, coverage levels diminished and the currency faded into the background." But arguably, bitcoin was bound to make headlines in 2013, when European speculators sent its value through the roof. The Cyprus economic bailout drove anxious investors to bitcoins as they sought alternatives to the euro and other currencies manipulated by central bankers. Bitcoin also made waves because no one in the investment world had seen anything like it. Bitcoins are known as a "cryptocurrency," a term that appeals to the James Bond in all of us. In fact, early adopters included thieves and criminals who embraced its all-digital nature. Bitcoin's nefarious fans included Silk Road, an online black market (since shuttered) that sold drugs. A handful of anarchists embraced it, too. Story continues That said, old-fashioned cash has long been a favorite of malfeasants. For the rest of us, "the legal status of bitcoin varies from country to country," says Nicolette Kost De Sevres, senior policy advisor with DLA Piper, a global business law firm, "It is banned or restricted in some, undefined in many and explicitly allowed in others." Adding to the mystery, bitcoins hinge on tongue-twisting technobabble even most Wall Street pundits can't grasp. This includes "source code repository" and the concept of "computationally impractical to reverse." Nor is a bitcoin a coin in the traditional sense. It exists as an open-source, peer-to-peer internet protocol, which may explain why the digerati have embraced it. One bitcoin evangelist is Nicolas Cary, a serial entrepreneur and co-founder of Blockchain, the world's top bitcoin software company. "The virtual currency has specific properties that make it work really nicely as a form of money," Cary says. Ask him why and he rattles off a long list: "It is counterfeit-proof, fungible, easily divisible by up to 8 decimal points, purely digital, robust against the elements -- it won't burn or get corroded in water -- and with certain digital precautions far more resilient than cash." Yes, but... "If you lose the hard drive you've stored your coins on or lose access to a hosted account, you've effectively lost your money," says Cindy McAdam, partner in Goodwin Procter's Technology and Life Sciences Group, and a former executive at Xapo, a leading bitcoin company. And it's not like those things ever happen, right? If you think you'd be better off spending bitcoins than investing in them, online retailers such as TigerDirect and Overstock.com ( OSTK ) accept the currency. You can even make donations with bitcoins at higher-ed institutions that include the University of Puget Sound. Yet you don't have to be an economics professor to describe bitcoin like this: volatile. One bitcoin is worth about $581. On Nov. 29, 2013, it hit a peak of $1,108, according to Coinbase.com, a website that tracks Bitcoin prices. Less than a month later, it had plummeted to $593 -- more than its current worth. But if you bought in at the start of last September, you'd have doubled your money and then some. It's enough to give even a stalwart market-timing enthusiast a case of virtual currency vertigo. "There is a belief that much of the 'Wild West' spike in late 2013 was driven by fraud and market manipulation," McAdam says. "The price fell dramatically in the year following that, but has basically been on an upward trend for the past 18 months." [See: The 10 Best REIT ETFs on the Market .] That includes a price bump of $130 over two weeks between late May and early June. "With the upward price movement, we should expect to see more bitcoin headlines soon," says Anthem Hayek Blanchard, founder and CEO of Anthem Vault, which has created a gold-backed digital currency, HayekGold. He predicts that "it is very likely that bitcoin prices will go higher and breach $1,000 per bitcoin." Taken one way, the recent price rebound could be interpreted as newfound stability away from the harsh media spotlight. "Some speculate the buying is coming from the Chinese market due to currency controls and a devalued yuan," says Jalak Jobanputra, a venture capitalist and founding partner of FuturePerfect Ventures in New York City. Or, it could represent the latest gyration in Bitcoin's brief, marble-in-a-bathtub history. So is now a good time to buy bitcoins? Or is it ever a good time to invest in them? "Bitcoin remains a risky investment," says William Brindise, chief trading officer at DigitalX, a software solutions company in the global digital payments industry. "If growth in demand remains roughly constant as supply growth falls, economic theory suggests the price of bitcoin should rise," Brindise says. "However that's a big if, since the factors driving demand for bitcoins remain in flux." Meanwhile, some argue that the current lack of sensationalism means that bitcoin , once an investment upstart, is settling down. "Bitcoin never went away," says Christopher Burniske, analyst and blockchain products lead at New York City's ARK Investment Management, the first public fund manager to invest in bitcoin. "Its strength can be seen in the 'up and to the right' graphs of transactional volumes, trading volumes, hashing power, number of wallets, startups, merchants, and more, all involved with bitcoin." Burniske also points to the 99bitcoins website, which tracks bitcoin obituaries in the press. The number to date: 104. He notes that while bitcoin isn't the media darling it once was, it doesn't deserve to be on death row, either. The truth, in all likelihood, sits securely in the mundane middle. [Read: Real Estate's New Land of Plenty .] "There are fewer headlines because the currency has leveled out to a degree," says John Sedunov, assistant professor of finance at the Villanova University School of Business in the Philadelphia area. "If anything, it is becoming more mainstream." More From US News & World Report 11 Stocks That Donald Trump Loves 7 Ways to Tell if a Stock Is a Good Price 8 Easy Ways to Make Money || Bitcoin spikes as yuan hits five-and-a-half year low on Brexit: The price of global cryptocurrencybitcoin (: BTC=) spiked on Friday as the yuan dipped after Britain voted to leave the European Union. Bitcoin moves are often counter-linked to the yuan because the majority of trade in the cryptocurrency comes from China. The yuan hit a five-and-a-half-year low on Friday, while the price of bitcoin jumped around 8.7 percent from the day's opening price, hitting highs of around $680.19, according to Coindesk which tracks the price of the cryptocurrency. "We are seeing trading volumes almost $100 million traded in the past 24 hours, it's two or three times compared to a slow day," Bobbly Lee, chief executive of BTCC, one of the largest bitcoin exchanges in the world based in China, told CNBC by phone on Friday. The value of bitcoin continues to be volatile. On Thursday, it plunged 25 percent since hitting a two-and-a-half year high on June 17 of $774.94. It is still not back at that level. But it's important to note that Brexit is just one among several factors that have affected the bitcoin price in recent times. Sentiment was dampened when earlier this week, Hong Kong-based bitcoin exchange Bitfinex was closed for a few hours because of "networking issues" in the company's data center, it said on Twitter. The issues were fixed on the same day. "The correction from a day or two ago had more to do with a technical correction that it did with Brexit," Lee said. More From CNBC Top News and Analysis Latest News Video Personal Finance || 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. More From CNBC Top News and Analysis Latest News Video Personal Finance || Bitcoin Buying Service Launches with Market-Beating Rates: NEW YORK, NY / ACCESSWIRE / July 13, 2016 / Selling bitcoins has just been made more profitable with the launch of a new website from PowerBTC.com . The recently revamped service offers to buy the crypto currency with one very simple advantage - a guarantee that they will pay a significantly higher price than the exchange rate of the day. The platform charges no transaction fees, making the market-beating offer even more attractive to those with bitcoin assets to trade. PowerBTC.com can guarantee this higher payment as they have established relationships with bulk bitcoin buyers, and need volume to feed their clients' hunger for the digital currency. They aim to make the selling process as simple and transparent as possible, not requiring any lengthy registration process, nor storing any personal information about their customers. Funds are delivered direct within 48 hours of purchase using Paypal, Western Union, or bank transfer, with the promise of complete privacy and anonymity. Tom Clark , CEO of PowerBTC.com, said, "We believe we are the best buyers for your bitcoin assets, whether you're a dedicated miner or a savvy trader. Not only do we offer better-than-market rates, but we deliver your funds in US Dollars direct with no strings attached, no need for registration, and a guarantee of complete privacy." Bitcoin has long been the most high-profile crypto currency, but its technological origins have often made it appear inaccessible to the mainstream investor. Talk of mining and exchanges can be off-putting, but PowerBTC.com aim to simplify the whole process of realizing bitcoin value by offering a no-frills, easy to use way of turning coins into solid cash. The service is not limited to new entrants to the blockchain arena, however, as the ease of converting a digital wallet into conventional currency at market-beating rates will appeal to even the most hardcore of bitcoin miners. The Key PowerBTC.com Features: All bitcoins purchased at significantly above market rates. No commissions or fees charged, just a clear and transparent buying price: what you see is what you get. Simple selling process with no registration or account required. Easy international payment in US Dollars via PayPal, Western Union, or bank transfer. Full anonymity guarantee with no personal details stored, and a safe and secure online platform. SOURCE: PowerBTC LLC || Bitcoin Buying Service Launches with Market-Beating Rates: NEW YORK, NY / ACCESSWIRE / July 13, 2016 /Selling bitcoins has just been made more profitable with the launch of a new website fromPowerBTC.com. The recently revamped service offers to buy the crypto currency with one very simple advantage - a guarantee that they will pay a significantly higher price than the exchange rate of the day.
The platform charges no transaction fees, making the market-beating offer even more attractive to those with bitcoin assets to trade.
PowerBTC.com can guarantee this higher payment as they have established relationships with bulk bitcoin buyers, and need volume to feed their clients' hunger for the digital currency. They aim to make the selling process as simple and transparent as possible, not requiring any lengthy registration process, nor storing any personal information about their customers. Funds are delivered direct within 48 hours of purchase using Paypal, Western Union, or bank transfer, with the promise of complete privacy and anonymity.
Tom Clark , CEO of PowerBTC.com, said, "We believe we are the best buyers for your bitcoin assets, whether you're a dedicated miner or a savvy trader. Not only do we offer better-than-market rates, but we deliver your funds in US Dollars direct with no strings attached, no need for registration, and a guarantee of complete privacy."
Bitcoin has long been the most high-profile crypto currency, but its technological origins have often made it appear inaccessible to the mainstream investor. Talk of mining and exchanges can be off-putting, but PowerBTC.com aim to simplify the whole process of realizing bitcoin value by offering a no-frills, easy to use way of turning coins into solid cash. The service is not limited to new entrants to the blockchain arena, however, as the ease of converting a digital wallet into conventional currency at market-beating rates will appeal to even the most hardcore of bitcoin miners.
The Key PowerBTC.com Features:
• All bitcoins purchased at significantly above market rates.
• No commissions or fees charged, just a clear and transparent buying price: what you see is what you get.
• Simple selling process with no registration or account required.
• Easy international payment in US Dollars via PayPal, Western Union, or bank transfer.
• Full anonymity guarantee with no personal details stored, and a safe and secure online platform.
SOURCE:PowerBTC LLC || Bitcoin "miners" face fight for survival as new supply halves: By Jemima Kelly
KEFLAVIK, Iceland, July 8 (Reuters) - Marco Streng is a miner, though he does not carry a pick around his base in south-western Iceland. Instead, he keeps tens of thousands of computers running 24 hours a day in fierce competition with others across the globe to earn bitcoins.
In the world of the web-based digital currency, it is not central banks that add new money to the system, but rather computers like Streng's which are awarded fresh bitcoins in return for processing blocks of the latest bitcoin transactions.
Bitcoin can be used to send money instantly around the world, using individual bitcoin addresses, free of charge with no need for third party checks, and is accepted by several major online retailers.
The work Streng's computers and others do serves two purposes: they record and verify the roughly 225,000 daily bitcoin transactions and - because they earn new bitcoins for the work they do - steadily increase the currency in circulation, currently worth around $10 billion.
The process has come to be known as "mining" because it is slow and intensive, reaping a gradual reward in the same way that minerals such as gold are mined from the ground.
But on Saturday, the reward for miners will be slashed in half. Written into bitcoin's code when it was invented in 2008 was a rule dictating that the prize would be halved every four years, in a step designed to keep a lid on bitcoin inflation.
From around 1700 GMT on Saturday, instead of 25 bitcoins up for grabs globally every 10 minutes, worth around $16,000 at the current rate, there will be just 12.5.
That means only the mining companies with the leanest operations will survive the ensuing profit hit.
"The most important thing is to be the most efficient miner," said Streng, the 26-year-old co-founder of German firm Genesis Mining, which has "mining farms" in Canada, the United States and eastern Europe, as well as in Iceland. "When the others drop out, that means that they leave the market and give you a bigger share of the pie."
SOLVING PUZZLES
The currency was founded eight years ago by a person or group using the name Satoshi Nakamoto, whose real identity has not been established. It was set up to operate independently of any single authority, instead relying on a decentralised global network.
Because the bitcoin miners operate autonomously, it is hard to track their numbers and size. But in terms of computing capacity it was estimated earlier this year that the network is 43,000 times more powerful than the world's top 500 supercomputers combined.
Computers like Streng's solve complex, automatically generated mathematical puzzles to help secure each block of transactions and keep the bitcoin network safe from hacking or manipulation. For bitcoin users, that security is one of the currency's main attractions.
After the first miner secures a block of transactions, its work is verified by the other miners in the network, and that block is added to the "blockchain" - a shared record of all the transaction data - which is virtually impossible to tamper with. The mining, therefore, keeps the whole system going.
Bitcoin is now accepted by major organisations including U.S. online retailer Overstock.com and travel company Expedia.
The speed and anonymity of bitcoin transactions, and lack of a central authority overseeing the currency, has drawn in many users, including those who want to get around capital controls. It has also attracted investors who see it as a potentially lucrative commodity in itself.
KEEPING COOL
Bitcoin mining started out as a hobby for tech geeks using their home computers in the early years of the virtual currency, but has become more specialised as bitcoin usage expands.
As the bitcoin price has risen, as transaction numbers have grown and as the computers have become so specialised that they can only perform the function of bitcoin mining, a whole industry has emerged.
It can be profitable if firms are able to keep their expenses low. But the costs of running these machines, which cost around $1,800 each, and keeping them cool are fiendishly high.
Streng reckons that, on average, it costs about $200 in electricity, including cooling power, to mine one bitcoin. Equipment, rent, wages and business running costs are on top.
On Saturday, all else being equal, the halving of the reward will double that cost, to $400, leaving a small margin for profit at the current exchange rate of around $640 per bitcoin.
In the same remote region of Iceland as the Genesis mining farm, on a former Cold War U.S. military base lies a bitcoin mining facility belonging to U.S. firm Bitfury. A nearby sub-station means electricity transmission costs are minimal.
In the farm's two vast buildings, tens of thousands of mining machines whir away, producing a huge amount of heat, so the buildings are open to the cold Icelandic air at either side, save for particle filters to trap dust.
Fans in the ceiling allow hot air to escape, but spin so fast that no rain or snow can enter during the winter. The noise produced by computers and fans is deafening.
It is no coincidence that so many mining companies have chosen to build farms in Iceland - Chinese giant Bitmain also has a huge farm there. The volcanic island's cheap, bountiful, renewable energy supply, good internet connectivity, and cool temperatures make it an ideal location.
The Icelandic authorities welcome the boost to the economy that the bitcoin miners have brought -- Bitmain opened its farm after an approach by the Icelandic embassy in Beijing. Genesis's Streng says he is such a valued client that the Icelandic energy companies fly him around in helicopters.
Bitfury CEO Valery Vavilov, who estimates electricity makes up between 90 and 95 percent of bitcoin mining costs, says one way his firm stays competitive is by making its own hardware.
He also says the company, founded in 2011, is prepared for the mining reward cut. "We're prepared - we already went through one halving event in 2012," he said. "You can forecast this...so you have time to prepare, and if you're prepared you can live quite easily."
Vavilov, and other miners, say the prospect of new supply halving has already helped drive bitcoin up over 50 percent this year, which should help ease the pain.
COMPETITION FROM CHINA
Despite the fact that the halving was expected, and that the price has risen, it has already claimed one casualty: Sweden's KnCMiner filed for bankruptcy at the end of May, citing the hit to its profits that the reward cut would bring.
Daniel Masters, who runs a Jersey-based bitcoin hedge fund and who bought a part of KnC's business, said the Swedish firm, like everybody else, had faced competition from miners in China, which are estimated to make up more than two-thirds of the bitcoin network's computing power, or "hashpower".
"It turned out that the Chinese, who really stormed into the mining market in the last couple of years, could just do this whole thing cheaper," Masters said.
Some Chinese miners get hydroelectric power from disused dams, while others use cheap coal-powered electricity.
Bitfury and Genesis, though, say their lean operations allow them to fight off the competition. Genesis, for example, keeps cost down by remotely monitoring conditions in its mining farms and adjusting its fans and cooling accordingly.
And the next time the mining reward is halved, in 2020, they hope the number of bitcoin transactions will have grown sufficiently to mean that the small fees paid by users will make up enough of their income to smooth out the profit cut.
"By 2020 we will definitely have had the tipping point," said Bitfury's Vavilov.
(Reporting by Jemima Kelly; Editing by Dominic Evans)
[Random Sample of Social Media Buzz (last 60 days)]
$693.48 at 03:15 UTC [24h Range: $655.79 - $725.00 Volume: 16957 BTC] || $653.46 at 17:30 UTC [24h Range: $605.50 - $655.00 Volume: 8271 BTC] || LIVE: Profit = $147.56 (15.23 %). BUY B1.70 @ $625.20 (#VirCurex). SELL @ $652.00 (#BitKonan) #bitcoin #btc - http://www.projectcoin.org || $584.90 at 00:15 UTC [24h Range: $574.05 - $586.02 Volume: 4430 BTC] || $549.81 at 09:00 UTC [24h Range: $529.13 - $552.00 Volume: 5049 BTC] || 1 KOBO = 0.00001950 BTC
= 0.0129 USD
= 3.6636 NGN
= 0.1879 ZAR
= 1.3065 KES
#Kobocoin 2016-07-16 23:00 pic.twitter.com/U79bIOCtsn || $537.20 at 04:30 UTC [24h Range: $529.13 - $540.00 Volume: 3878 BTC] || #ChainCoin #CHC $ 0.000186 (5.89 %) 0.00000027 BTC (0.00 %) || One Bitcoin now worth $525.49@bitstamp. High $535.00. Low $510.01. Market Cap $ 8.201 Billion #bitcoinpic.twitter.com/tsXy13Btlh || Bitstamp: $670.50/BTC - last trade of USD/BTC at https://www.bitstamp.net/ (high: 714.00, low: 625.00) #bitcoin #BTC http://bitcoinautotrade.com
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Trend: down || Prices: 655.03, 656.99, 655.05, 624.68, 606.27, 547.47, 566.35, 578.29, 575.04, 587.78
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-06-08]
BTC Price: 33472.63, BTC RSI: 34.50
Gold Price: 1892.20, Gold RSI: 61.96
Oil Price: 70.05, Oil RSI: 66.89
[Random Sample of News (last 60 days)]
Crypto and blockchain must accept they have a problem, then lead in sustainability: As the price of bitcoin hits record highs and cryptocurrencies become increasingly mainstream, the industry’s expanding carbon footprint becomes harder to ignore. Just last week , Elon Musk announced that Tesla is suspending vehicle purchases using bitcoin due to the environmental impact of fossil fuels used in bitcoin mining. We applaud this decision, and it brings to light the severity of the situation -- the industry needs to address crypto sustainability now or risk hindering crypto innovation and progress. The market cap of bitcoin today is a whopping $1 trillion. As companies like PayPal, Visa and Square collectively invest billions in crypto, market participants need to lead in dramatically reducing the industry’s collective environmental impact. As the price of bitcoin hits record highs and cryptocurrencies become increasingly mainstream, the industry’s expanding carbon footprint becomes harder to ignore. The increasing demand for crypto means intensifying competition and higher energy use among mining operators. For example, during the second half of February, we saw the electricity consumption of BTC increase by more than 163% -- from 265 TWh to 433 TWh -- as the price skyrocketed. Sustainability has become a topic of concern on the agendas of global and local leaders. The Biden administration rejoining the Paris climate accord was the first indication of this, and recently we’ve seen several federal and state agencies make statements that show how much of a priority it will be to address the global climate crisis. A proposed New York bill aims to prohibit crypto mining centers from operating until the state can assess their full environmental impact. Earlier this year, the U.S. Securities and Exchange Commission put out a call for public comment on climate disclosures as shareholders increasingly want information on what companies are doing in this regard, while Treasury Secretary Janet Yellen warned that the amount of energy consumed in processing bitcoin is “ staggering .” The United Kingdom announced plans to reduce greenhouse gas emissions by at least 68% by 2030, and the prime minister launched an ambitious plan last year for a green industrial revolution. Story continues What Square’s smashing earnings tell us about consumer bitcoin demand Crypto is here to stay -- this point is no longer up for debate. It is creating real-world benefits for businesses and consumers alike -- benefits like faster, more reliable and cheaper transactions with greater transparency than ever before. But as the industry matures, sustainability must be at the center. It’s easier to build a more sustainable ecosystem now than to “reverse engineer” it at a later growth stage. Those in the cryptocurrency markets should consider the auto industry a canary: Carmakers are now retrofitting lower-carbon and carbon-neutral solutions at great cost and inconvenience. Market participants need to actively work together to realize a low-emissions future powered by clean, renewable energy. Last month, the Crypto Climate Accord (CCA) launched with over 40 supporters -- including Ripple, World Economic Forum, Energy Web Foundation, Rocky Mountain Institute and ConsenSys -- and the goal to enable all of the world’s blockchains to be powered by 100% renewables by 2025. Some industry participants are exploring renewable energy solutions, but the larger industry still has a long way to go. While 76% of hashers claim they are using renewable energy to power their activities, only 39% of hashing’s total energy consumption comes from renewables. To make a meaningful impact, the industry needs to come up with a standard that’s open and transparent to measure the use of renewables and make renewable energy accessible and cheap for miners. The CCA is already working on such a standard. In addition, companies can pay for high-quality carbon offsets for remaining emissions -- and perhaps even historical ones. While the industry works to become more sustainable long term, there are green choices that can be made now, and some industry players are jumping on board. Fintechs like Stripe have created carbon renewal programs to encourage its customers and partners to be more sustainable. Companies can partner with organizations, like Energy Web Foundation and the Renewable Energy Business Alliance, to decarbonize any blockchain. There are resources for those who want to access renewable energy sources and high-quality carbon offsets. Other options include using inherently low-carbon technologies, like the XRP Ledger, that don’t rely on proof-of-work (which involves mining) to help significantly reduce emissions for blockchains and cryptofinance. The XRP Ledger is carbon-neutral and uses a validation and security algorithm called Federated Consensus that is approximately 120,000 times more energy-efficient than proof-of-work. Ethereum, the second-largest blockchain, is transitioning off proof-of-work to a much less energy-intensive validation mechanism called proof-of-stake. Proof-of-work systems are inefficient by design and, as such, will always require more energy to maintain forward progress. The devastating impact of climate change is moving at an alarming speed. Making aspirational commitments to sustainability -- or worse, denying the problem -- isn’t enough. As with the Paris agreement, the industry needs real targets, collective action, innovation and shared accountability. The good news? Solutions can be practical, market-driven and create value and growth for all. Together with climate advocates, clean tech industry leaders and global finance decision-makers, crypto can unite to position blockchain as the most sustainable path forward in creating a green, digital financial future. || US STOCKS-Wall Street slips off record highs, Tesla drops after fatal crash: * Tesla falls after fatal crash, bitcoin slumps
* GameStop shares jump as CEO exits
* Coca-Cola rises as revenue beats estimates (Adds post 4 p.m. close data)
By Herbert Lash
NEW YORK, April 19 (Reuters) - U.S. stocks closed lower on Monday, slipping from last week's record levels, as investors awaited guidance from first-quarter earnings to justify high valuations, while Tesla Inc shares fell after a fatal car crash.
The electric-car maker slid 3.4% after a Tesla vehicle believed to be operating without anyone in the driver's seat crashed into a tree on Saturday north of Houston, killing two occupants.
The stock was the biggest drag on the S&P 500 and Nasdaq Composite Index. An 8.4% drop over the weekend in bitcoin, in which Tesla has an investment, also weighed on its share price.
The S&P 500 was mostly lower, with Microsoft Corp, Amazon.com Inc and Nvidia Corp also weighing on the benchmark index as analysts await results this week and next that form the bulk of earnings season.
Corporate outlooks should indicate to what degree the rally from last year's lows can continue. Analysts expect first-quarter earnings to have grown 30.9% from a year ago, according to Refinitiv IBES data.
The U.S. economy is poised to boom as consumers hold $2 trillion in savings in excess of pre-pandemic levels, said Doug Peta, chief U.S. investment strategist at BCA Research, adding markets are in pause mode.
"If indeed we do keep grinding higher that would be healthy, that would suggest that the grinding higher is sustainable," Peta said. "The pullbacks along the way are healthy."
Real estate was the only one of the 11 S&P 500 sectors to post gains.
Nvidia fell 3.5% after the UK government said it would look into the national security implications of Nvidia's purchase of British chip designer ARM Holdings, raising a question mark over the $40 billion deal.
Coca-Cola Co rose 0.6% after the beverage maker trounced estimates for quarterly profit and revenue, benefiting from the easing of pandemic curbs and wide vaccine rollouts.
International Business Machines Corp, another blue-chip company, slipped 0.4% ahead of its results due after the market close.
"The market has had a huge jump to the upside so it needs to take a little bit of rest," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
"For now it's just a little bit of profit taking as traders await results from big tech names on Wall Street."
The Dow Jones Industrial Average fell 123.04 points, or 0.36%, to 34,077.63. The S&P 500 lost 22.21 points, or 0.53%, at 4,163.26; while the Nasdaq Composite dropped 137.58 points, or 0.98%, to 13,914.77.
Volume on U.S. exchanges was 9.86 billion shares.
A recent retreat in benchmark 10-year Treasury yields from 14-month highs has helped high-flying technology stocks to rebound, while strong economic data has lifted the S&P 500 and the Dow to record levels.
The S&P 500 has gained the past four weeks, its longest winning streak since August 2020.
GameStop Corp jumped 6.3% on the announcement of its chief executive's resignation.
Crypto stocks including miners Riot Blockchain and Marathon Digital each fell more than 8% as bitcoin took a hammering over the weekend. Bitcoin closed down 0.7%.
Harley-Davidson Inc jumped 9.7% after the motorcycle maker raised it full-year forecast for sales growth. (Reporting by Shivani Kumaresan and Medha Singh in Bengaluru; Editing by Shounak Dasgupta, Bernard Orr and Richard Chang) || BCH Finally Breaks Out From Long-Term Resistance: Bitcoin Cash (BCH) has broken out from a long-term resistance area at $1,160. BCH is expected to continue moving upwards towards the next closest resistance area. Long-term BCH breakout BCH made a breakout attempt on April 2 but was rejected by the long-term $1,160 resistance area. After a decrease, it is making another breakout attempt and has moved considerably above the area. If it stands, the current weekly close would be the highest since 2018. Technical indicators are bullish. This is especially visible by the RSI cross above 70. In addition, both the MACD & Stochastic Oscillator are increasing. The next closest resistance area is found at $1,840. Chart By TradingView Wave count The wave count is not entirely clear. The most likely one has this being sub-wave five (orange) of a long-term wave three (white). A potential target for the top of the upward movement is found at $1,770. This is close to the long-term resistance level outlined in the previous section. Similarly to the weekly time-frame, technical indicators in the daily one support this upward movement. After the target is reached, a significant correction would be likely. Chart By TradingView BCH/BTC BCH/BTC has just broken out from a descending resistance line that had previously been in place since March 2019. However, it is still trading below the main resistance area at ₿0.025. Until it clears it, we cannot consider the long-term trend bullish. Nevertheless, it looks likely that BCH will be successful in breaking out above it. The RSI has just crossed above 70 and both the MACD & Stochastic Oscillator are moving upwards. Once it does, we can consider the long-term trend bullish. Chart By TradingView To conclude, BCH/USD is expected to continue its upward movement towards the next resistance near $1,800. BCH/BTC is expected to reclaim the ₿0.025 resistance area. For BeInCrypto’s latest bitcoin (BTC) analysis, click here. || Staff at Biggest Dutch Domino’s Pizza Franchise Can Now Be Paid in Bitcoin: A Domino’s Pizza franchisee in the Netherlands is offering to pay its employees in bitcoin – appropriately starting on Bitcoin Pizza Day. Staff taking up the option will be able to choose how much of their salary above the minimum wage – which must be paid in euros by law – they wish to receive in bitcoin, according to an announcement Saturday. The franchisee, Immensus Holdings, is Holland’s largest with 16 Domino’s stores, and will offer the salary option in partnership with Dutch fiat-to-crypto gateway BTC Direct. The company has over 1,000 internal and external employees who can opt into the scheme. “We work with a lot of young employees. We hear them talking about bitcoin and we want to offer the opportunity to own cryptocurrency,” Immensuus co-owner Jonathan Gurevich said. The news was announced on Bitcoin Pizza Day, which commemorates the first time bitcoin was used as a form of payment when developer Laszlo Hanyecz used 10,000 BTC to pay for two pizzas on May 22, 2010. That amount of bitcoin is worth almost $410 million at time of writing. See also: Soccer Player Ifunanyachi Achara the Latest Sports Pro to Take Salary in Bitcoin Related Stories PizzaDAO Celebrates Bitcoin Pizza Day With 1M Slice Giveaway Why It’s Tough to Send Aid Money to Palestine During the Latest Israel-Hamas Conflict Greenpeace Stops Accepting Bitcoin Donations, Cites High Energy Use Crypto Card Provider Simplex Being Acquired by Canadian Firm for $250M View comments || Google’s contact-tracing system has left data accessible to hundreds of apps for months: (Getty Images) Google ’s coronavirus contact tracing framework, which alerts users if they have been near someone with COVID-19 , has been making its data available to third-party apps. The software giant had been informed of the privacy issue since February, a report from The Markup alleges, but said that the issue was not a “severe enough” flaw. The contact-tracing framework is built into Android devices, but can communicate with iPhones . It works by monitoring the phone’s owner via Bluetooth , but the data should only be available to official apps of public health authorities such as the “NHS COVID-19” app, which is being used by 16 million people. However, hundreds of preinstalled apps including Samsung Browser and Motorola’s MotoCare on Android devices have access to this potentially sensitive information. The signals that the contact tracing data generates are saved into its device system logs, which companies have permission to read for crash report and analytics. The information includes data about whether a phone registered a person as being in contact with someone who had the coronavirus, the device’s name, MAC address, and advertising ID, security researchers said. Google had pledged that “the list of people you’ve been in contact with doesn’t leave your phone unless you choose to share it”. Researchers from the privacy analysis firm AppCensus raised the problem to Google in February 2020 , as part of the US Department of Homeland Security’s testing. Google reportedly did not change it. “This fix is a one-line thing where you remove a line that logs sensitive information to the system log. It doesn’t impact the program, it doesn’t change how it works, ” Joel Reardon, co-founder and forensics lead of AppCensus, told The Markup. “It’s such an obvious fix, and I was flabbergasted that it wasn’t seen as that.” Reardon apparently reached out to Google’s bug bounty program concerned about the issue on 19 February. Google said that the finding did not merit a serious enough flaw to merit a reward, but a panel would look through the findings in a subsequent meeting. Story continues The Google security team eventually sent an automated email that they would “decide whether they want to make a change or not”, but Reardon received no communication from Google since. “Exposure Notifications uses privacy preserving technology to help public health authorities manage the spread of COVID-19 and save lives. With the Exposure Notification system neither Google, Apple, nor other users can see your identity and all of the Exposure Notification matching happens on your device. We were notified of an issue where the Bluetooth identifiers were temporarily accessible to some pre-installed applications for debugging purposes”, Google said in a statement to The Independent . “Immediately upon being made aware of this research, we began the necessary process to review the issue, consider mitigations and ultimately update the code. These Bluetooth identifiers do not reveal a user’s location or provide any other identifying information and we have no indication that they were used in any way - nor that any app was even aware of this.” However, Reardon had contacted Giles Hogben, Android’s director of privacy engineering, later in February. Hogben said that “[System logs] have not been readable by unprivileged apps (only with READ_LOGS privileged permission) since way before Android 11 (can check exactly when but I think back as far as 4),” Google did not provide an answer as to why, if the company knew about these issues before Android 11, they were not fixed prior to the rollout of the contact tracing framework, nor why it did not provide Reardon with a response to his messages. Read More Bitcoin price live: Cryptocurrency value surges as Elon Musk tweet sends Dogecoin soaring What’s going on with bitcoin? Cryptocurrency is following price prediction model ‘with astonishing precision’ Dogecoin price sky rockets after Elon Musk calls himself ‘The Dogefather’ || Beijing’s Crypto Crackdown Is Not New but Don’t Dismiss It: China’s crypto warning on Tuesday may look similar to previous notices. However, it conveys a pointed message to commercial banks and payment companies that have been friendly to crypto-related businesses.
The National Internet Finance Association of China, the China Banking Association and the Payment and Clearing Association of Chinapublisheda notice saying member financial institutions should not provide services to crypto-related transactions or investment funds. The news appeared to help spark a crypto sell-off on Wednesday, when the overall crypto market lost nearly$1 trillionbefore it began recovering on Thursday.
“Although yesterday’s notice looks largely the same as before, it is a more explicit warning specifically for Chinese banks and payment processors,” said Tao Luo, former Beijing Fengtai district attorney and chief consultant at Global Blockchain Compliance Union.
Related:Bitcoin Falls as China Calls for Crackdown on Crypto Mining, Trading
China’s central bank officially barred financial and payment institutions from providing any services related to all cryptocurrencies as early as 2017. But some major crypto trading platforms are still able to process transactions through personal bank accounts due to certain banks’ lax compliance requirements, Luo said.
The warning could lead Chinese financial institutions to implement more rigorous compliance requirements and further limit basic banking services they can offer to crypto traders, at least in the short term, according to Luo.
The recent notice appears to be targeted more at the banks by spelling out what specific banking services are prohibited. Some services in the recent notice, such as purchasing crypto with fiat currencies and setting up crypto funds, were not included in the 2017 ban prohibiting financial institutions from transacting, clearing, settling and insuring all cryptocurrencies as well as initial coin offerings.
The earliest crypto-related ban in China dates back to 2013, which barred financial institutions from offering services related tobitcoin.
Related:Gensler Says SEC Should Be ‘Ready to Bring Cases’ Involving Crypto
“The regulation seems to have tightened,” said a Beijing-based executive from a U.S. crypto investment firm that has a few multi-million dollar crypto funds in China. “The number of available service providers has dropped.” The executive sought anonymity due to the sensitivity of OTC trading activities in China, some of which are still illegal in the country.
“Sometimes who sends the message is almost as important as the message itself,” Luo said. The three associations issuing the warning are among the most important watchdogs besides China’s central bank, the People’s Bank of China (PBoC), which oversees China’s banking and online payment services.
The members of the three associations that issued the notice range from major state-owned commercial banks to payment giants including AliPay and WeChat Pay.
“That fact that the notice comes from these ‘semi-official’ associations indicates the regulators might just want to give the banks a wake-up call,” said Aries Wang, partner of South Korea-based crypto venture capital firm BlockWater Capital. “There will be more serious consequences if it is from the central bank.”
The bans in 2013 and 2017 were issued by the People’s Bank of China along with other government agencies including China Securities Regulatory Commission and the Ministry of Industry and Information Technology.
The Chinese financial regulators have taken a similar approach in limiting investment in other asset classes such as real estate and U.S. stocks, Luo said.
Although the Chinese banking system can not officially offer any services related to crypto, sometimes these banks have offered services without knowing they were dealing with crypto-related businesses, said Wang.
Certain Chinese banks would allow crypto trading firms to use personal bank accounts to deposit cash for their trading businesses as long as the firms are not involved in money laundering, while other banks would not even know they are dealing with crypto-related businesses, he added.
Many of the crypto trading firms have over-the-counter trading (OTC) desks, which is a major marketplace for Chinese traders to buy or sell cryptocurrencies.
OTC trading services is one of the two major ways for Chinese investors to enter the crypto market. Investors could set up an account on a foreign exchange, such as Coinbase, where they can buy crypto with fiat currencies or cash in on their crypto holdings. However, many Chinese investors are not able to go abroad and open such accounts due to the exchanges’ compliance requirements. That leaves OTC trading as the more common trading platform for Chinese traders.
“If the Chinese regulators completely close bank accounts associated with crypto businesses, the impact on trading, such as the OTC desks, in the country could be devastating,” Wang said, adding it is highly unlikely regulators would be able to ban all such transactions in practice.
The intensifying crackdown on crypto trading could be, in part, attributed to OTC trading desks’ potential involvement in money laundering.
The notice comes amid China’s nationwide crackdown on an increase in money laundering activities in the banking system due to the rise of telecom fraud. Some fraudsters tend to use crypto OTC trading desks because tens of thousands of their bank accounts have been closed by the Chinese police. Prominent Chinese OTC trader Dong Zho has been in police custody since last year for his involvement in money laundering.
Another reason prompting the crackdown notice could be the overheated crypto market.
The crackdown notice calls the crypto market’s extreme volatility a substantial threat to China’s financial stability and its citizens’ assets. “As virtual currencies see more drastic price swings, we have also seen more frequent trading and marketing activities,” the notice said.
A number of memecoins have been issued in China following the success ofdogecoin copycatSHIB in the U.S. There are more than 60 new coins that derive fromDOGEon the market. Unlike decentralized finance (DeFi), which could be complicated for the average crypto investor to participate in, memecoins can be easily traded on small exchanges, Wang said.
However, the Chinese crypto market is likely to survive this round of crackdowns in the long run.
“Traders would probably experience short-term headwinds,” Lingxiao Yang, chief operating officer at crypto hedge fund Trade Terminal, said. “But they have seen multiple rounds of crackdowns before and they can wait out the cycle.”
In China, crypto trading remains in a murky legal area. The regulators tend to carry out crackdowns when the Chinese crypto market is overheated or serious compliance issues emerge.
The Chinese crypto community has seen two large-scale crackdowns over the last decade. China’s central bank banned financial institutions from offering services related tobitcoinin 2013 and expanded the ban to all cryptocurrencies and initial coin offerings in 2017. Yet, Chinese crypto trading persists.
“It’s just about controlling the narrative, not about controlling bitcoin,” Leonhard Weese, co-founder of the Bitcoin Association of Hong Kong, said. “Bank accounts will be shut, new accounts will be opened and everyone is on notice not to get too big.”
• Australian Minister Says Government Has ‘No Issue’ With Crypto Investment
• OCC Warns of Fraudulent Emails Seeking Bitcoin Wallet Keys || Things You Must Consider Ahead of NOV's Q1 Earnings Report: NOV Inc. NOV is set to release first-quarter 2021 results on Tuesday Apr 27, after the closing bell. The current Zacks Consensus Estimate for the to-be-reported quarter is a loss of 23 cents per share while the same for revenues is $1.23 billion. Lets delve into the factors that might have impacted this oilfield services companys performance in the March quarter. But its worth taking a look at NOVs previous-quarter results first. Highlights of Q4 Earnings & Surprise History In the last reported quarter, this Houston, TX-based provider of equipment and technology to the oil and gas exploration and production firms reported an adjusted loss of 42 cents per share, wider than the Zacks Consensus Estimate of a loss of 12 cents. However, the year-ago bottom line was a profit of 13 cents per share. This downside could be attributed to weakness in the Rig Technologies and the Completion & Production Solutions units, partially offset by better-than-expected revenues from the Wellbore Technologies unit. Total revenues of $1.33 billion were in line with the Zacks Consensus Estimate. However, the top line plunged 41.6% from the year-ago number of $2.28 billion. As far as earnings surprises are concerned, NOVs bottom line beat the Zacks Consensus Estimate in three of the last four quarters and missed the same in the remaining one, witnessing a negative surprise of 21.19%, on average. This is depicted in the graph below: NOV Inc. Price and EPS Surprise NOV Inc. Price and EPS Surprise NOV Inc. price-eps-surprise | NOV Inc. Quote Factors to Consider Last month, NOV trimmed its first-quarter 2021 guidance due to weather disturbances and lower-than-expected customer demands. The companys Rig Technologies unit and the Completion & Production Solutions unit were affected by logistical troubles from coronavirus-induced restrictions in Southeast Asia and postponements in certain projects. This, in turn, hurt the quarterly performance of its three units, namely Rig Technologies, Wellbore Technologies and Completion & Production Solutions, which fell below the companys expectations. Consequently, the Zacks Consensus Estimate for the first-quarter adjusted EBITDA for Rig Technologies and Wellbore Technologies is pegged at $3.01 million and $21.44 million, respectively, indicating a decrease of 94.6% and 79.2% each from the corresponding year-ago reported figures. Meanwhile, the Zacks Consensus Estimate for the first-quarter adjusted EBITDA for Completion & Production Solutions is pegged at a loss of $2.34 million. However, the year-ago quarters adjusted EBITDA was a profit of $71 million. Story continues Also, shortage in the supply of acute global glass fiber hampered NOVs fiberglass systems operations in the quarter under review. As a result of these headwinds, the company now foresees its first-quarter sales in the $1.20-$1.25 billion range, indicating a decline from the year-ago quarters reported figure of $1.88 billion while its adjusted EBITDA loss is anticipated in the $15-$25 million band. However, the year-ago quarter reported adjusted EBITDA profit of $178 million. What Does Our Model Say? The proven Zacks model does not conclusively predict an earnings beat for NOV this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. But thats not the case here. You can uncover the best stocks to buy or sell before theyre reported with our Earnings ESP Filter. Earnings ESP: NOV has an Earnings ESP of -5.60%. Zacks Rank: NOV has a Zacks Rank #4 (Sell), currently. Stocks to Consider While an earnings beat looks uncertain for NOV, here are some firms from the energy space that you may want to consider on the basis of our model: Helix Energy Solutions Group, Inc. HLX has an Earnings ESP of +25.00% and a Zacks Rank #2, currently. You can see the complete list of todays Zacks #1 Rank stocks here. The firm is scheduled to release earnings on Apr 26. BP plc BP has an Earnings ESP of +5.10% and is Zacks #2 Ranked, presently. The firm is scheduled to release earnings on Apr 27. Baker Hughes BKR has an Earnings ESP of +3.97% and is Zacks #3 Ranked, currently. The firm is scheduled to release earnings on Apr 21. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the Internet of Money and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree were still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NOV Inc. (NOV) : Free Stock Analysis Report BP p.l.c. (BP) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report Helix Energy Solutions Group, Inc. (HLX) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Bitcoin's slump opens the door to a tax loophole every investor needs to know: A months-long bull run has finally driven crypto prices over a cliff.
Bitcoin, Ethereum and Dogecoin prices are on their way back up after all three cryptocurrencies saw their values plummet in May, but investors will be waiting some time before they recover the $590 billion in value the global crypto market shedbetween May 12 and May 17.
If you’re a crypto investor down in the dumps, there’s a strategy you can use that might take some of the sting out of your recent losses. It’s called a “wash sale,” and it could help mitigate your losses by creating some pretty tasty tax savings — it could even be a reason toincrease your stake in cryptonow that prices are down.
Cryptocurrencies aren’t regulated as securities. In fact, the IRS actually taxes them as property. That means the rules that apply to typical stocks don’t apply to crypto, and the rules around "wash sales" don’t apply.
A wash sale takes place when you sell your stocks for a loss and then, within 30 days, you acquire more of the same securities, either through an outright purchase, a taxable trade or an option to buy.
If you scoop up more of the same stocks in that 30-day period, the IRS will prohibit you from using the losses incurred on the sale to reduce the capital gains taxes generated by your more successful investments.
But with crypto, there’s a lot more fun to be had. Your lossescanbe used to draw down — or completely wipe out — your capital gains taxes. You can also buy more of the same crypto asset and try to capitalize on a swift rebound without having to wait 30 days, which, in crypto time, is forever.
Let’s say your Bitcoin investment lost you $50,000 a few weeks back, but the gains from your stocks and mutual funds this year earn you $50,000. Your Bitcoin losses would offset the taxes you would otherwise have to pay on your capital gains.
If you’re going to try and use the wash sale rules to your advantage, just make sure you’re not repurchasing too soon after making the sale. The IRS can still prevent you from claiming the tax credit if they think the sale lacks legitimacy. And don’t plan on trying this with Coinbase shares. They play by the same rules as every other stock.
Whenever you try out a new tax strategy, make sure you’re making an informed decision. Reach out toa reputable financial adviserso you can understand the short- and long-term benefits — and risks — of what you’re about to do.
In May, Bitcoin, Ethereum and Dogecoin investors went on a selling spree that many feel was sparked by comments made by Tesla CEO Elon Musk.
Bitcoin prices began an intense run-up after the electric car innovator announced in February that it would be purchasing $1.5 billion in cryptocurrency and allowing customers to pay for their Teslas with bitcoin.
On Feb. 8, the day of Tesla’s announcement, Bitcoin closed at just over $46,375. By April 15, it had hit a new peak of $62,237.
Ethereum and Dogecoin prices followed a similar, though slower, path. Ethereum peaked at $4,179 on May 11, while Dogecoin hit a high of $0.68 on May 7.
But the air started rushing out of the crypto market on May 12, when Musk announced that Tesla would no longer be accepting Bitcoin as payment for vehicle purchases because of the environmental cost of Bitcoin mining. Over $300 billion in value evaporated from the crypto market in just one day.
Not even a week after the self-styled Master of Coin backtracked on his commitment to Bitcoin, China banned its financial institutions from offering any services that involve cryptocurrency. The double dose of bad news for crypto kicked off weeks of losses.
As of June 7, Bitcoin was selling for about $35,000, rough 44% down from its peak.
Cryptocurrency is mystifying to most people, but there are two things we know about it for sure:
1. It has already rebounded from multiple crashes.
2. It has madea lotof people rich.
So if you’re interested in buying crypto on the dip, who can blame you, especially if assets like Bitcoin can help you keep the taxman at bay?
Investing in cryptocurrencies doesn’t require you to be a tech wizard or obsessive investing geek with a degree in engineering. You can do it, easily and safely, througha legit, wildly popular investing app.
And if you’d rather stick to more traditional investments, it’s not like the stock market has shown much sign of cooling. You can actuallystart building a diversified portfoliowith little more than the “spare change” left over from your everyday purchases. || What an Increasingly Booming Economy Means for Bitcoin: Bitcoin (BTC) declined late Thursday after a brief test spike to $56,000. The cryptocurrency was trading around $52,600 at the time of writing.
The largest cryptocurrency is down about 10% for the month to date and is on track for the worst month since January.
Bitcoin retraced roughly 50% of the prior two-week sell-off, which ended at a low around $47,000. However, the recovery was short-lived as intraday charts showedresistance around $56,000.
Related:What an Increasingly Booming Economy Means for Bitcoin
BTC remains below the 50-day moving average on the daily chart, a sign of slowing momentum.
Ether (ETH) also declined, to $2,720, after reaching an all-time high around $2,790 on Thursday. The second-largest cryptocurrency by market cap is up about 13% over the past seven days while BTC is up only 1.75%.
“Alts (altcoins) are now enjoying the attention bitcoin has brought them. The real question is, if bitcoin breaks lower and heads back to $50,000, will the rest of the crypto market take a bath or will the dominance index head back to record lows?” Matt Blom, head of sales and trading for the digital-asset exchange firm Diginex, wrote Thursday in a newsletter.
Steve Ehrich, CEO of Voyager Digital, attributed at least part of the weakness to the bitcoin options expiry thisFriday, saying, “Historically, we have seen prices drop in the days leading up to bitcoin options expiry only to rebound afterwards, confirming the continued bullishness around bitcoin.”
Related:What China’s Blockchain Services Network Means for the World
• Paxos Joins Crypto Unicorn Club After Latest $300M Funding Raise
• Stablecoin Rush Breaks Out; JPMorgan, DBS and Temasek Launch Partior || Kellogg Challenges Pop-Tart Addicts With New Mystery Flavor: What You Need To Know: Kellogg Company (NYSE: K ) has added an air of secrecy to its Pop-Tarts product line with the introduction of its first mystery flavor. Hmmm, Tastes Like...: The new Mister E Pop-Tart challenges consumers’ taste buds to identify the new flavor by working in collaboration with Mister E, a new character described by the company as a “world-class investigator” within the augmented reality sphere. Kellogg is coordinating a sweepstakes competition, with participants invited to scan the QR code on a box of Mister E Pop-Tarts and join Mister E in an AR probe that offers clues on the new flavor. Prizes include gaming consoles, Pop-Tarts hoodies and Pop-Tarts embroidered hats. The sweepstakes kicks off on May 27 and runs through Aug. 31. The Benzinga Crypto Show: Elon Tanking Bitcoin!? Pop-Tarts-a-Go-Go: Kellogg appears to be giving new attention to its Pop-Tarts. Last month, the company added three new flavors to the product line: peach cobbler, lemon crème pie and tropical mango. In January, salted caramel pretzel Pop-Tarts were released, joining two other pretzel flavors, cinnamon sugar and chocolate. In April, Kellogg teamed with 7-Eleven, a subsidiary of Japan’s Seven and I Holdings - ADR (OTC: SVNDY ), in setting a new Guinness World Record for the World’s Largest Box of Toaster Pastries — in this case, a box in Dallas filled with 1,331 pounds of individual Pop-Tart packages, which was later donated to the North Texas Food Bank. In its Q1 earnings report, Kellogg recorded net sales of $3.58 billion, up by more than 5% from one year earlier. The company added its diluted earnings per share were $1.11, up by more than 12%. At last check Wednesday at publication, Kellogg shares were at $65.80, in between its 52-week high of $72.88 and its 52-week low of $56.61. (Photo courtesy Kellogg.) See more from Benzinga Click here for options trades from Benzinga EXCLUSIVE: How Alkaline Water Signed Shaquille O'Neal As Brand Ambassador © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 37345.12, 36702.60, 37334.40, 35552.52, 39097.86, 40218.48, 40406.27, 38347.06, 38053.50, 35787.25
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-04-13]
BTC Price: 423.73, BTC RSI: 55.90
Gold Price: 1246.80, Gold RSI: 54.68
Oil Price: 41.76, Oil RSI: 64.01
[Random Sample of News (last 60 days)]
Your first trade for Tuesday: The " Fast Money " traders gave their final trades of the day. Pete Najarian was a buyer of IBM. Brian Kelly was a buyer of GDX. Karen Finerman was a buyer of C. Guy Adami was a buyer of CSCO. Trader disclosure: On Monday, April 11 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, BAC, BMY, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, MRK, PEP, PFE, SAVE, VIAB Long Calls: AAL, AMAT, AGN, AKS, AMJ, BAC, BAX, BBBY, CL, CRM, DAL, EBAY, ECA, EGO, ENER, GRPN, HAIN, IBM, KBH, KO, KSS, LC, MDLZ, MET, MSFT, NLNK, POT, RIG, SBUX, SCHW, SLV, SLW, SPG, TCK, UAL, WYNN, XOM, YHOO, ZIOP, EWZ, GDX. Long Puts: DB, HES, MS, PBR, RY, VLO BRIAN KELLY is long BBRY, Bitcoin, GLD, SH, SLV, TLT, US Dollar, UUP, Yen; he is short Aussie Dollar, BLK, British Pound, CS, DB, Euro, EWA, EWH, FRC, Hong Kong Dollar, UBS, SPY, Yuan, 5-Year Note Futures KAREN FINERMAN is long BAC, C, FL, GOOG, GOOGL, JPM, LYV, KORS, M, SEDG, SPY puts, URI. Her firm is long ANTM, AAPL, BAC, BOKF, C, C calls, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, NRF, PLCE, SPY puts, URI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International. GUY ADAMI is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance || University of California notifies 80,000 of cyber attack: SAN FRANCISCO (Reuters) - Officials at the University of California Berkeley said on Friday that they were alerting 80,000 people, including current and former students, faculty and vendors of a cyber attack on a system that stores social security and bank account numbers. The news comes just more than a week after a Southern California hospital paid hackers $17,000 in the digital currency Bitcoin to regain control of their computer systems after a so-called "ransomware" attack. The San Francisco Bay Area university said there was no evidence that attackers actually took any personal information, but that it was still alerting the 80,000 individuals to be on the lookout for misuse of their information. The school said a hacker or hackers gained access to its financial management software in late December due to a security flaw present when the system is updating. Officials have notified law enforcement, including the FBI, and hired a private computer investigation company. The university said among the potentially affected are 57,000 current and former students; about 18,800 former and current employees; and 10,300 vendors who work with the school. Those figures come out to about half of the school's current students and two-thirds of its active employees. Large, high-profile organizations and businesses routinely come under cyber attack, and the school said it frequently identifies similar hacking attempts. "The security and privacy of the personal information provided to the university is of great importance to us," Paul Rivers, UC Berkeley's chief information security officer, said in a statement. "We regret that this occurred and have taken additional measures to better safeguard that information." The school said it was providing credit protection service free of charge to those potentially impacted. (Reporting by Curtis Skinner in San Francisco; Editing by Sharon Bernstein) || For Mac Users, The Security Bubble Has Burst: Apple's Mac operating systems are known for their resistance to malware, viruses, hackers and ransomware, which is one reason many people opt for Mac computers. Still, they're not invincible, and as a security company recently reported, Mac users should be aware of potential threats. Researchers at Palo Alto Networks reported finding "the first fully functional ransomware seen on the OS X platform," according to a March 6 post on their site. What Is Ransomware? Ransomware is what it sounds like: Cyber criminals infiltrate your computer and hold it (or more specifically, its data) hostage. They demand you pay them if you ever want your files back. They often want payment in digital currency like Bitcoin, because these transactions are difficult to trace — and it's a hassle for the victim to acquire and transfer. Apple did not immediately respond to request for comment on the reported attack. However, Palo Alto said in its blog post that, after it reported the occurrence to Apple, the Mac maker shut down the infiltration and updated its anti-virus system. How to Protect Yourself Ransomware attacks can be particularly stressful for consumers if the stolen data includes personal information, work data or irreplaceable files (think photos). Not only is this a case to back up your hard drive, it's also a reminder that you may want to install anti-virus software or malware protection on your computer, no matter how secure you think it is. Guarding your personal information is no joke. Losing your sensitive information to a criminal puts you at risk for identity theft . It can take a lot of time and money to recover from identity theft, not to mention the credit damage you might suffer. On top of that, if someone gets access to your Social Security number, the risk of fraud never goes away, because the Social Security Administration rarely changes numbers. Protecting your devices goes hand-in-hand with habits like reviewing your financial accounts for unauthorized activity and monitoring your credit for signs of fraud . (You can see a free summary of your credit report, updated each month, on Credit.com.) Story continues Taking steps to prevent cyberattacks is important, but so is having a plan for how to deal with one if it happens. Ideally, such planning will make the incident less stressful and less costly. You can report cyber crime to the Federal Bureau of Investigation and go here to learn what to do if you are a victim of identity theft . More from Credit.com How to Use Credit Monitoring to Protect Your Child's Identity Does Credit Repair Work? Can Credit Repair Companies Help? What Is a FICO Score? || Brave will pay you in Bitcoins for browsing the web (updated): Brendan Eich, the controversial former CEO of Mozilla, recently launched Brave , a privacy-focused browser that blocks ads and trackers. While that concept isn't new, Brave has a twist: You'll have to pay to completely block ads, and if you allow replacement ads (reportedly free of bloat, tracking and malware) you'll actually get paid yourself. Now, the company has revealed the Brave Ledger, a Bitcoin-based payment system for users and publishers. The specifications aren't final, but Brave is now fielding comments and discussion from advertisers and developers. Here's how it works: Previously, the company said it would allow users to either pay to block ads, or get paid to allow ad replacements from Brave's own network. Those ads, chosen by an ad-matching partner, are supposedly faster, safer and load after the publisher's content, not before it like regular third-party ads. For ad-free mode, you'll pay a monthly fee that will be distributed to publishers based on total traffic to each site. Brave's ad network would take a five percent cut of the total amount collected. How many publishers will go along with this, since many, like Engadget parent AOL, have their own ad networks? When users go for replacement ads, Brave will take a 15 percent cut, its ad-matching partner would take 15 percent and publishers would get the biggest chunk, 55 percent. The latter pot would be divvied up based on the same traffic measurements as the ad-free method. Users get 15 percent, but there are some caveats. First of all, you need to have a Brave Bitcoin wallet, and the default option will be to donate money to your preferred publisher. If you want to spend the money yourself, you'll need to verify your identity with a phone number and email address. Publishers will also need to be verified to a higher standard. All of this creates as many questions as it answers. How much will users get paid (and have to pay) to accept or decline ads, for instance? Since the ad-free method amounts to a subscription, how many users will pay to skip ads? (Not many, if torrent software providers like uTorrent are any indication.) Which publishers will go along with this, since many, like Engadget parent AOL, have their own ad networks ? These are tricky questions, and if the company doesn't have the right answers, its Brave browser model will be dead on arrival. Story continues Update : Since this article was published, Brave has updated the source blog post to say that paying for ad-blocking is "optional." In a previous version, it said "for ad-free mode, you pay a monthly fee in Bitcoin (BTC)." The article now states: "For sites in ad-free mode, you can optionally pay the site by drawing from your user wallet, funded by your revenue share from ad-replacement mode sites (see below) plus your own funds if you care to add any." A company spokesperson also confirmed that users do not have to pay to block ads. There's no word on whether users would opt in or out to pay, and how a free mode would affect publisher revenues. Engadget has reached out for more information, and Brave's comments, in part, are below. There is no subscription model. With Brave, a user can go ad-free if he wishes -- without paying. Of course we encourage users to support publishers and web sites, but we don't require users to pay to go ad-free. || Blockchain won’t kill banks: Bitcoin pioneer: Blockchain – the technology that underpins the cryptocurrency bitcoin – is unlikely to kill banks despite warnings from top industry executives, the chair of a bitcoin non-profit organization told CNBC on Monday.
Last week, Andrey Sharov, a vice president at Russia's Sberbank, said banks would disappear by 2026 due to the rising use of blockchain technology.
"In 10 years, there will be no banks, I'm afraid," according to a translation of Sharov's comments by the Coinfox bitcoin news website.
But Brock Pierce, the chairman of the Bitcoin Foundation, said that while the adoption of blockchain will hit parts of a bank, it will ultimately create opportunity.
"There are certain aspects of their business that are going to be negatively impacted, but there are also going to be other business units that are going to be positively impacted and new business units that get created that might not even exist today," Pierce told CNBC in an interview on Monday.
"And the parts of the industry that are being most negatively impacted are the ones where the bank is not providing much in the way of value, where they are being a toll taker but not really a value creator."
Blockchain is the technology that underlies the cryptocurrency bitcoin. It works like a huge, decentralized ledger for bitcoin which records every transaction and stores this information on a global network so it cannot be tampered with.Banks feel blockchain technologycan be utilized in areas from remittances to securities exchanges to bring about efficiency.
The Bitcoin Foundation positions itself as an organization that is helping to advance the use of the cryptocurrency "through advocacy, education and support of adoption and core development", according to its website. While there is no centralized authority for bitcoin, the organization is trying to create common standards for its use.
Pierce has a varied history. He was a child film star who appeared in Disney's "The Mighty Ducks" film in the early 1990s. He has previously run internet companies and is a partner in Blockchain Capital, a venture capital firm that invests in companies in the space.
A number of major financial institutions have been speaking publically about blockchain and touting its potential. A firm called R3 has brought together a group of the world's biggest banks including JPMorgan and Citigroup and is dedicated to researching and delivering new financial technology. Another company called Digital Asset Holdings, founded by an ex-top JPMorgan executive, partnered with JPMorgan earlier this year to explore blockchain technology.
Speaking at the Money 2020 conference in Copenhagen last week, Digital Asset Holdings chief executive Blythe Masters, said blockchain technology will be "deployed in a commercial setting in less than a couple of years," butwidespread adoption would take longer, a point Pierce echoed.
"I think banks are going to take a while to integrate this … it's going to take them years of testing before they start to commercialize aspects of the technology … it's more likely to have an impact in other industries in the short term which are less-regulated and where the stakes are lower," Pierce told CNBC.
Pierce also explained that there would be "dozens of different versions of blockchains" deployed for different use cases.
The Bitcoin Foundation has had a checkered history. In December, Pierce declared in meeting minutes that the organization was "close to running out of money."
And bitcoin itself has had a bad reputation. The cryptocurrency is often linked to allowing people to purchase illegal items anonymously, while one of the world's largest bitcoin exchanges,Mt. Gox, collapsed in 2014.
While not referring to these specific incidents, Pierce did admit that bitcoin's reputation has suffered some bad publicity, and why the banks are focusing on the underlying technology of blockchain.
"Bitcoin's got a major PR (public relations) problem and that's why you hear major banks saying bitcoin bad, blockchain good," Pierce said.
"Emerging technologies and the earliest adopters often produce these types of messages. And bitcoin as the pioneer takes the arrows in the back…which is probably not warranted."
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || Brave will pay you in Bitcoins for browsing the web (updated): Brendan Eich, thecontroversialformer CEO of Mozilla, recently launchedBrave, a privacy-focused browser that blocks ads and trackers. While that concept isn't new, Brave has a twist: You'll have to pay to completely block ads, and if you allow replacement ads (reportedly free of bloat, tracking and malware) you'll actually get paid yourself. Now, the company hasrevealedthe Brave Ledger, a Bitcoin-based payment system for users and publishers. The specifications aren't final, but Brave is now fielding comments and discussion from advertisers and developers.
Here's how it works: Previously, the company said it would allow users to either pay to block ads, or get paid to allow ad replacements from Brave's own network. Those ads, chosen by an ad-matching partner, are supposedly faster, safer and load after the publisher's content, not before it like regular third-party ads. For ad-free mode, you'll pay a monthly fee that will be distributed to publishers based on total traffic to each site. Brave's ad network would take a five percent cut of the total amount collected.
How many publishers will go along with this, since many, like Engadget parent AOL, have their own ad networks?
When users go for replacement ads, Brave will take a 15 percent cut, its ad-matching partner would take 15 percent and publishers would get the biggest chunk, 55 percent. The latter pot would be divvied up based on the same traffic measurements as the ad-free method. Users get 15 percent, but there are some caveats. First of all, you need to have a Brave Bitcoin wallet, and the default option will be to donate money to your preferred publisher. If you want to spend the money yourself, you'll need to verify your identity with a phone number and email address. Publishers will also need to be verified to a higher standard.
All of this creates as many questions as it answers. How much will users get paid (and have to pay) to accept or decline ads, for instance? Since the ad-free method amounts to a subscription, how many users will pay to skip ads? (Not many, if torrent software providers likeuTorrentare any indication.) Which publishers will go along with this, since many, like Engadget parent AOL, have theirown ad networks? These are tricky questions, and if the company doesn't have the right answers, its Brave browser model will be dead on arrival.
Update: Since this article was published, Brave has updated the source blogpostto say that paying for ad-blocking is "optional." In a previous version, it said "for ad-free mode, you pay a monthly fee in Bitcoin (BTC)." The article now states: "For sites in ad-free mode, you can optionally pay the site by drawing from your user wallet, funded by your revenue share from ad-replacement mode sites (see below) plus your own funds if you care to add any." A company spokesperson also confirmed that users do not have to pay to block ads.
There's no word on whether users would opt in or out to pay, and how a free mode would affect publisher revenues. Engadget has reached out for more information, and Brave's comments, in part, are below.
There is no subscription model. With Brave, a user can go ad-free if he wishes -- without paying. Of course we encourage users to support publishers and web sites, but we don't require users to pay to go ad-free. || Bitcoin finds room in small funds; large institutions still on sidelines: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Digital currency bitcoin has found favor among smaller investors, thanks to the availability of funds designed to invest in it, but remains a niche among the larger investing community.
Investors at some family offices, smaller mutual funds, and traders at hedge funds say bitcoin has helped returns and demonstrated a low correlation with other asset classes.
Hopes that bitcoin would become a broadly used alternative to other currencies helped buoy its price to more than $1,000 in December 2013, when its market capitalization was $13 billion.
But the market cap has retreated since then, to about $6.4 billion as of Thursday.
Early enthusiasts for the crypto-currency were drawn to its revolutionary ideals of transparency and a lack of central or official control. The risks of dealing in bitcoin were laid bare in 2013 when Tokyo-based exchange Mt Gox collapsed after admitting it had lost the equivalent of hundreds of millions of dollars of investor funds.
The currency's earlier ties to gambling and criminal websites did not endear it to traditional investors.
Jeremy Millar, founder and managing partner at Ledger Partners in London, estimated that 50 to 90 percent of bitcoin's current $6.4 billion market cap is held by near-institutional money such as individuals at hedge funds and family offices. That has not changed over the last two years.
He does not have an estimate for institutional investment holdings of bitcoin. But he said they are likely to be insignificant, compared with the smaller investors who have fewer restrictions about fund allocation.
"What is clear though is that over the last two years, bitcoin has emerged from its 'hacktivist' origins to a more institutionalized ecosystem which includes the participation of hedge funds, traders, and professional investors," said Millar.
BITCOIN IN PORTFOLIOS
Funds dedicated to investing in bitcoin are relatively small. The largest is the Pantera Bitcoin Fund, a $160 million hedge fund founded by Dan Morehead, formerly of Tiger Management, available to institutions and individuals who invest $50,000 or more.
According to a Pantera Bitcoin Fund brochure, the fund was launched in July 2013, a period when bitcoin <BTC=BTSP> 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) || Bitcoin group scores funds from biggest names in industry: Bitcoin-related businesses raised more venture capital money in 2015 than in any year before: $485 million, according to industry news siteCoinDesk. And yet, even as they court more VC interest, these companies continue to deal with skepticism from the general public and from top executives of big financial institutions, likeJamie Dimonof JPMorgan (JPM).
So they're turning to a non-profit advocacy group for help.
Coin Center, a 501(c)(4) lobbying group founded in 2014, calls itself the "leading non-profit research and advocacy center" for public policy on "cryptocurrency technologies such as Bitcoin." Its supporters already included well-known venture firm, Andreessen Horowitz (Marc Andreessen is a vocal bitcoin believer), and some of the biggest companies in the industry, including Chain, Coinbase, and Xapo. Now Coin Center is about to get a lot louder: This month it has raised $1 million in new donations, Yahoo Finance has learned.
In an industry where the hottest companies have had recent fundraising rounds of $116 million (21 Inc.), $50 million (Circle) and $30 million (Chain), $1 million may sound like small potatoes—and it is, although Coin Center says it will help fund travel for its five staff members, who spend much of their time meeting with lawmakers to discuss policy.
But as some big banks have joined a consortium to explore the possibilities of the blockchain (the public, open ledger on which all bitcoin transactions are logged), what is significant here is that Coin Center's extensive list of new supporters includes some of the most powerful people in the exploding fintech sector. Among those who donated are 21 Inc. (which last year released a small bitcoin-mining computer aimed at making it easier to develop bitcoin apps), BitStamp, Overstock.com (OSTK), which was one of the first major online retailers to accept bitcoin as payment, and Digital Currency Group.
That last firm is key: Led by SecondMarket founder Barry Silbert, DCG has invested in 65 different bitcoin companies, and the companies in its portfolio have raised 70% of all the venture capital in the space. DCG is to the bitcoin industry what Anheuser-Busch InBev (BUD) is to the beer market, or what IAC (IAC) has been to online-dating companies.
"Our mission is to accelerate the development of a better financial system," Silbert tells Yahoo Finance, "and the way we will do that is investing in great companies, starting companies, buying companies, and helping organizations like Coin Center." In other words: Silbert wants to have his hands in as many digital-currency entities as possible to ensure his influence, and he is quickly carrying out that strategy. It's why DCGbought outrightthe industry's leading news site, CoinDesk."There are many ways lawmakerscould stifle the bitcoin blockchain," Silbert says, "so providing awareness and education is a very important part of what will make this industry sustainable."
In short: Coin Center is getting more influential, and now it has people backing it who have deep pockets and major interest in keeping regulators from interfering too much in what bitcoin companies are doing. Coin Center is not a trade association—none of the companies in the bitcoin industry are members. But it certainly shares their interests.
Jerry Brito, Coin Center's executive director, isa law professor who has testified before Congress about cryptocurrencies. Hesays Coin Center's primary audience is policy-makers—and these people can often be confused about the industry. The fear of bitcoin businesses is that politicians will hastily regulate, or even shut down startups, before they understand the technology. (The tension is not unlike the battle raging in daily fantasy sports right now.) Coin Center can help, Brito says: "Policy makers hear about these negative aspects, whether it’s ransoms, or drug sales, or the like, and they will often contact law enforcement and say, 'What's up with this?' This is a challenge just like all new technologies have been, from email to pagers, butwe think that we can get a handle on this."
To that end,Coin Center teamed with the Chamber of Digital Commerce in October to help create The Blockchain Alliance, a safe-space private forum in which law enforcement groups like the FBI and the U.S. Department of Justice can pose questions to bitcoin startup executives and policy pundits. Think of the alliance like a Justice League for bitcoin. But it is unclear how frequently the forum is being used, since the media isn't allowed in.
Last year, New York became the first state to release its own regulatory framework specifically devoted to digital currency businesses. Called the BitLicense, it was met with so much opposition from the bitcoin community that a slew of companies packed up and left New York, cutting off service to customers in the state. Other companies happily applied for a license, but bemoaned the high cost.
Coin Center makes its stance on legislation clear. "If you look back, [former New York Department of Financial Services superintent]Ben Lawsky said he didn't want to interfere with innovation or hurt business. Ultimately, the BitLicense that we got did not succeed at that. It is not a good model for other states to follow," he says. "I think the only solution is a light touch approach. If you go heavy-handed, as a regulator, you’ll do two things: not meet your goals, typically, becasuse you’ll make it so difficult that people can’t even comply with it, and not get the visibility that you want as a regulator." Those in the bitcoin business, of course, like that argument quite a lot.
Marc Andreessen has been Coin Center's biggest donor since the beginning, giving the lion's share of help. But with Silbert flexing his muscle, Coin Center's role in advocating for digital currency will strengthen. (Brito says donors "can give input," but not dictate what Coin Center does.)
Coin Center has received $2 million in donations to date, and it now plans to seek $1 million every year. It won't have much trouble getting it.
--
Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more:
Bitcoin industry consolidates: Why Kraken bought Coinsetter
Bitcoin's biggest investor bought its biggest news site
Here's a sign that PayPal is embracing Bitcoin
Fantex, the 'athlete stock exchange,' signs first golfer || Exclusive: Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn
(Reuters) - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said.
Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals.
But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions.
“It is obviously a group of skilled of operators that have some amount of experience conducting intrusions,” said Phil Burdette, who heads an incident response team at Dell SecureWorks.
Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs.
The victims included a transportation company and a technology firm that had 30 percent of its machines captured.
Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December.
Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters.
The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly.
The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions.
Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement.
Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware.
It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell’s cases, the means of access by the team spreading ransomware was established in 2013.
The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments.
Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities.
PAYMENT IN BITCOIN
Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats.
In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks.
Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay.
Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams.
The involvement of more sophisticated hackers also promises to intensify the threat.
InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT.
“The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab,” Alderson said.
(Reporting by Joseph Menn in San Francisco; editing by Jonathan Weber and Grant McCool) || Newspaper giants threaten Brave over its ad-swapping browser: You remember how Brave's web browser pays you to see replacement ads (overriding a site's usual ads) when you don't pay to block promos outright? Yeah, publishers aren't very happy about that. A coalition of 17 news giants, including the New York Times and Dow Jones, has sent Brave a letter claiming that its ad-swapping business model is illegal. Allegedly, the approach is tantamount to copyright infringement. It's "indistinguishable" from stealing articles and posting them on another site, according to the publishers. The group also doesn't buy the argument that Bitcoin payments and revenue sharing will make up for the lack of native ads -- those methods "cannot begin to compensate" for the lost income. Not surprisingly, Brave isn't having any of it. CEO Brendan Eich says the browser isn't replacing publishers' own ads, including any first-party ads that aren't using third-party tracking. It's trying to create a better ad network that actually pays more than third-party options, he argues. Eich goes so far as to suggest that the publishers are being disingenuous (especially when sidestepping their own ad privacy concerns), and are really attacking any browser with an ad blocker add-on or ad-free reading mode . Brave says it's open to talking with the media group to argue its case, although it's hard to see those companies being very receptive when they not-so-subtly hint at possible legal action. Not that Brave is slowing down in the meantime. It just released a developer version of its browser with support for Chrome extensions, 1Password logins and blocks against everything from phishing scams to privacy-violating browser fingerprinting measures. In short, it's determined to fight privacy intrusions of all kinds, whether or not the perpetrators are in a position to object.
[Random Sample of Social Media Buzz (last 60 days)]
Liquid Bitcoin || @Free_Ross BTC after BTC!!! Send some my way!! 1CXohpGXwiE1mC4tw2tBTRkYntiPEsmXsF || New post: "Are Bitcoin Businesses Targets for Online Extortion?" http://ift.tt/1n4QB9x || BTCTurk 1237.0 TL BTCe 416 $ CampBx $ BitStamp 413.00 $ Cavirtex $ CEXIO 419.86 $ Bitcoin.de 377.73 € #Bitcoin #btc || Liquid Bitcoin || My all time fav comment on #Bitcoin & #blockchain from anywhere in world is Canadian gov't testifying that an ATM "spits out a Bitcoin." WTF || Current price: 415.55$ $BTCUSD $btc #bitcoin 2016-03-22 01:00:12 EDT || My monster has 200 hp left! I've earned a total of 98,750 satoshi http://www.monstercoingame.com/?id=5765284 #monstercoingame #Bitcoin || Liquid Bitcoin || Liquid Bitcoin
|
Trend: up || Prices: 424.28, 429.71, 430.57, 427.40, 428.59, 435.51, 441.39, 449.42, 445.74, 450.28
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on 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 2021-07-19]
BTC Price: 30817.83, BTC RSI: 37.28
Gold Price: 1808.70, Gold RSI: 48.82
Oil Price: 66.42, Oil RSI: 33.52
[Random Sample of News (last 60 days)]
Ukrainian Law Enforcement Raids Illegal Mining Farm With GPUs, PlayStations: Ukrainian law enforcement shut down a “major” crypto mining farm, the Security Service of Ukraine (SSU) said Thursday. According to an official report , the miners occupied a utility room at the local electricity provider in the town of Vinnitsa southwest of Kiev and illegally plugged into its power grid. “Entire blocks of Vinnitsa could have been left without power,” the SSU said. The law officers seized 5,000 units of hardware, including “3,800 PlayStations, 500 GPUs (graphic processing units), 50 CPUs (central processing units), documents, notepads, phones and flash drives,” according to the report. Authorities are now trying to identify the people involved with the mining farm, possibly including the staff of the electricity provider, Vinnytsiaoblenergo. Related: Crypto Long & Short: A Bear Market Doesn’t Spell Doom Vinnytsiaoblenergo may have lost as much as $250,000 a month, the investigators said. Ukrainian law enforcement officials discover illegal mining farms from time to time, raiding venues with unauthorized access to the electricity grid. Earlier in July, the SSU shut down a smaller farm in the Chernihiv region containing 150 application-specific integrated circuits (ASICs), Forklog reported . Ukraine is about to pass its first crypto regulation, with the Draft Bill on Virtual Assets proceeding through parliament. The country’s central bank has been exploring the prospects of issuing a Ukrainian hryvnia-backed central bank digital currency, and earlier this month, the future CBDC was included in the national regulation for payment systems. Read also: From Risky to Promising: Ukraine’s Quest to Become a Dream Crypto Jurisdiction Related Stories Why China’s Ban on Crypto Mining Is More Serious Than Before China’s Crackdown Is Forcing Miners to Dump GPUs on Secondhand Market: Report Bitcoin Miner Profitability Could Double After Record Drop in Network Difficulty || Marks & Spencer to close 30 stores after slumping to £201m loss: M&S said sales picked up in the second half of 2020 and have had a further boost since stores re-opened on 12 April (Reuters) Marks and Spencer has said it plans to close 30 more stores over the next decade after it swung to a £201.2m annual loss as clothing and homeware sales fell sharply in a year of lockdowns. The retailer has already closed or relocated 59 stores and cut 7,000 jobs. It plans to expand or open 17 sites over the next two years. M&S hailed the successful launch of an online grocery partnership with Ocado but food sales could not make up for declining sales elsewhere in the business. The loss for the year to 27 March follows a £67.2m profit in the previous 12 months. Like-for-like revenues increased 1.3 per cent over the year, but clothing and home sales fell 31.5 per cent. Investors shrugged off the news and sent the retailer's share price up 4 per cent in morning trading. M&S said sales picked up in the second half of 2020 and have had a further boost since stores re-opened on 12 April. Its food business grew 6.9 per cent excluding its hospitality and franchise arms. It also hailed a strong integration with Ocado after the two companies launched their online grocery joint venture last September. The retailer said its balance sheet is also “stronger than expected” following the impact of the pandemic. Chris Daly, chief executive of the Chartered Institute of Marketing said M&S’s bleak results came as no surprise. “Already on the back foot pre-pandemic due to its limited online offering, this stalwart of the high street needs to swiftly adapt to the consequences of Covid,” he said. “Investing in its partnership with food delivery giant Ocado strengthened its online food sales offering, enabling customers to easily access quality food without having to leave their homes.” Mr Daly said chief executive Steve Rowe had yet to deliver similar results with online clothing sales but its new website showed “promising” signs. Mr Rowe said plans to reshape the company were on track. “With the right team in place to accelerate change in the trading businesses and build a trajectory for future growth, we now have a clear line of sight on the path to make M&S special again. “The transformation has moved to the next phase.” Read More James Newman represents the UK at Eurovision Lidl pulls own-brand gin from shelves in trademark battle with Hendrick’s Bitcoin: Advert claiming it’s ‘time to buy’ crypto is banned in UK View comments || Modern Monetary Theory and a Basic Income for All: Related:Miami Coin and Voting With Your Tokens
The advent of distributed autonomous organizations, rather than extractive ones, opens up the possibility to reorganize society
• El Salvador Adopts Bitcoin: Hype or History in the Making?
• Bitcoin as Legal Tender? Why El Salvador’s Plan Isn’t as Crazy as You Think || The May 19 Sell-Off Actually Strengthened Bitcoin’s Narrative: May 19 was theworst day bitcoin has seen this yearand left some watchers wondering: did it destroy bitcoin’s narrative? The answer is, for those watching closely, it likely strengthened it.
Here’s why:bitcoinproved itself on Wednesday when it saw its second biggest volume day of the year, and market infrastructure did not break. Some exchanges suffered outages, but liquidity was available, as spot volumes show. Moreover, while a drop of over 30% may be dizzying for new buyers high on hopium, such events are not uncommon in bitcoin’s bull-market history.
The chart above shows bitcoin-dollar volume on the 11 exchanges that are eligible as components of theCoinDesk Bitcoin Price Index (XBX). That means these markets are accessible to U.S. investors, have transparent ownership and do not place limits on bitcoin or dollar withdrawals, among other criteria.
Related:Institutional Crypto Exchange LMAX Digital Hit Record $6.6B Volume on Bitcoin’s ‘Black Wednesday’
The chart shows how the May 19 selloff compared, in bitcoin terms, to volume traded in the Jan. 10 selloff, as Dogecoin and GameStop mania peaked on Jan. 22, and during a second sell-off in February.
The bitcoin-dollar markets in general are useful to watch, because they can indicate activity at a well-known market entry point – a place where new entrants “buying the dip” are likely to place orders.
More narrowly, XBX eligibility means these exchanges can attract institutional activity as well. In particular, LMAX Digital serves institutional clients exclusively, and Coinbase (marked here as Coinbase Pro) volume is 64% institutional, according to the company’s latest earnings report.
(To get insights like this in your inbox every Monday,sign up for CoinDesk Indexes’ weekly newsletter, “The Hard Fork”.)
Related:Bitcoin Holds Short-Term Support; Faces Resistance at $40K
Coinbase specifically set records on Wednesday, handling over $4 billion in notional BTC/USD volume for the first time. (It was not a record in bitcoin units. That record was set Dec. 13 2015, when 165,543 BTC changed hands on Coinbase dollar markets. For context,December 2015saw bitcoin trading up into the $400s, four months into abull marketthat would last through December 2017.) Coinbase ETH/USD markets also handled record volume in bothETHand dollar terms on Wednesday, 1.7 million ETH valued in aggregate at $4.5 billion.
The fact that spot market volume can crescendo like this is an indicator of market maturity, at least in these two blue-chip cryptocurrencies: capital is able to flow in as the price drops, and sellers are finding buyers on the way down.
Meanwhile, in offshore derivatives markets, all was normal. Wednesday put this week over $4 billion in bitcoin futures liquidations.
As this chart, pulled Thursday from skew.com, shows, this past week was only the third highest week for liquidations so far in 2021, and it’s the fourth time this year that bitcoin futures liquidations have crossed $4 billion in notional value. Offshore futures markets did not artificially flash-crash the price.
Wednesday’s bitcoin price drop was swifter and deeper than any so far this year. The CoinDesk Bitcoin Price Index (XBX) low, struck in the wee hours UTC time at $30,037.61, was 54% off its all-time high, 41% off its price beforeElon started tweetingand 30% off the prior day’s closing price at midnight UTC.
It’s the third time this year bitcoin has entered “bear market” territory, by equity markets’ rule of thumb, which is a 20% drop. The two prior occasions occurred as the XBX made its way to its current all-time high ($64,888.19, set on April 14).Some bear market.
On any time scale, a 30% intra-day drop is unusual for bitcoin. Matt Weller of forex.com presented this illustrative chart Wednesday afternoon onAll About Bitcoinon CoinDesk TV.
The chart shows how, in the bull market that began in the second half of 2015, bitcoin saw eight drawdowns of 30% or more. None of them took place in the course of a single 24-hour day. But they all took place during a longer upward trend that took bitcoin’s price from $200 to $20,000.
The current bull market dates back to March 2020, when bitcoin hit a yearly low of $3,905. If this bull market grows to resemble that period, it will put bitcoin on course to hit the $400,000 mark by July 2022. That’s a big if, but also apopularone.
• Bitcoin, Ether Bounce After Disastrous Week for Crypto Market
• Crypto Long & Short: Crypto Markets Are Volatile Because They’re Free || Stock market news live updates: Stocks gain as technology shares outperform, Bitcoin recovers some losses: Stocks rose Monday to recover some of last week's losses, with investors' concerns over inflation at least temporarily receding. [ Click here to read what's moving markets heading into Tuesday, May 25 ] The S&P 500 rose by about 1% after ending last week lower. The Dow and Nasdaq ended higher. Technology stocks outperformed as Treasury yields retreated. Bitcoin ( BTC-USD ) prices steadied to rise by more than 13%, after the largest cryptocurrency by market cap endured an extended streak of selling over the weekend. At their worst point during the past week's worth of selling, Bitcoin prices were off by more than 50% from their peak of more than $64,800 from mid-April. Ethereum ( ETH-USD ), the second largest cryptocurrency, also recovered some recent losses Monday morning, with prices up more than 20% to over $2,400. The three major indexes are heading into this week following a multi-week stretch of volatile trading. Investors have become increasingly jittery about the prospects of elevated, lasting inflation during the post-pandemic economic recovery. These concerns have hit growth stocks like technology companies especially hard, with the Amazon- and Tesla-heavy consumer discretionary sector down 5.2% in the S&P 500 over the past month, and the information technology sector off by 4.4%. "I do think it's been a pretty healthy sideways chop," Michael Jones, Caravel Concepts CEO, told Yahoo Finance. "It's taken out some of the speculative excess. The biggest pullbacks have been in some of the most pricey names. That all feels very healthy to me." "I also think that the big concerns that the market has had about inflation – well, you only care about inflation if the Fed cares inflation," he added. "And the folks on the FOMC [Federal Open Market Committee] who were sounding a warning bell, maybe we should start 'talking about talking about tapering,' since that meeting, a lot of the data has come in weaker than expected ... and I think that gives the more dovish folks ammo to push that conversation about tapering further out in time." Story continues Other pundits have also agreed with the Fed's predominant view that the inflation seen so far in government metrics like the consumer price index and producer price index, and anecdotally in company earnings calls and comments , will prove transitory. Later this week, the U.S. Bureau of Economic Analysis will release its April personal consumption expenditures (PCE) index on Friday . The headline print is expected to show a rise of 3.5% in April over last year for the biggest increase since 2008, according to Bloomberg consensus data. Stripping away volatile food and energy prices, the so-called core PCE is expected to have increased by 2.9% in April over last year, which would be the largest jump in more than two decades. The core PCE serves as the Fed's preferred gauge of inflation. But even given these expected increases, many economists have encouraged investors to keep the rises in perspective. "Although inflation expectations have moved up, our replication of the Fed's reference measure is still below the levels seen in the 2001-2007 expansion," Goldman Sachs Chief Economist Jan Hatzius wrote in a note Monday. "Ultimately, the biggest question is whether the economy will overheat, i.e. whether output and employment will rise substantially above potential," he added. "We don't expect this because the starting point is one of sizable slack—especially if we consider not just GDP-based but also employment-based measures of the output gap—and because growth is likely to slow from its current rapid pace as the fiscal impulse turns negative next year." — 4:04 p.m. ET: Stocks rebound as inflation concerns abate, tech stocks outperform; Nasdaq rises 1.4% Here were the main moves in markets as of 4:04 p.m. ET: S&P 500 ( ^GSPC ) : +41.20 (+0.99%) to 4,197.06 Dow ( ^DJI ) : +186.14 (+0.54%) to 34,393.98 Nasdaq ( ^IXIC ) : +190.18 (+1.41%) to 13,661.17 Crude ( CL=F ) : +$2.40 (+3.77%) to $65.98 a barrel Gold ( GC=F ) : +$6.60 (+0.35%) to $1,883.30 per ounce 10-year Treasury ( ^TNX ) : -2.4 bps to yield 1.6080% — 11:50 a.m. ET: Stocks hold higher as S&P 500, Nasdaq gain more than 1%; tech shares outperform The three major indexes extended gains in intraday trading, with the S&P 500 and Nasdaq each advancing by more than 1%. The communication services, information technology and consumer discretionary sectors outperformed in the S&P 500, with these tech-heavy areas making up losses after underperforming over the past several weeks. The utilities sector was the only one in the red heading into afternoon trading. Microsoft, Cisco, Apple and Intel outperformed in the Dow, while declines elsewhere in components like Goldman Sachs and The Travelers Companies capped gains. — 10:45 a.m. ET: Strategist on tech stocks: 'It's just the wrong macro backdrop for this part of the market at this moment in time' Technology stocks have seen some of the biggest drawdowns so far this year as prospects of a strong economic reopening have stoked investor interest in cyclical shares. Rising inflation expectations have also weighed on growth stocks, and will likely continue to do so over the near-term, especially with valuations still elevated, according to a number of strategists. "We don't think there's any problem with the fundamentals in the tech space ... but we think it's been an over-owned, overvalued part of the market, and it's just the wrong macro backdrop for this part of the market at this moment in time," Lori Calvasina, chief equity strategist for RBC Capital Markets, told Yahoo Finance. "The sector still does not look cheap relative to the broad market," she added. "We looked at positioning, and we found that we had really started to see the positioning come down if you look at the futures market. But we weren't back down to the lows that we saw in 2009, 2018 when you really did see some major inflections in the tech space." "And so bottom line we still think inflationary pressures are here, and tech is one of the biggest sources of funding for rotation back into reflationing plays, things like financials, energy and materials," Calvasina said. "And we don't think those inflation pressures are going to abate any time soon." — 9:30 a.m. ET: Stocks open higher Here's where markets were trading after the opening bell: S&P 500 ( ^GSPC ) : +21.49 (+0.52%) to 4,177.35 Dow ( ^DJI ) : +125.92 (+0.37%) to 34,333.76 Nasdaq ( ^IXIC ) : +86.41 (+0.63%) to 13,555.65 — 8:42 a.m. ET: Investors are still positioning for rising inflation: Deutsche Bank Investor attention so far this year has focused squarely on prospects of rising inflation, with a surge in prices expected to come alongside the jump in demand as people return to in-person activities. Consumers have taken notice, and investors have been positioning their portfolios in anticipation of these trends, according to Deutsche Bank. "Positive surprises in inflation data are running at the highest level in at least 20 years (as far back as the data goes)," Deutsche Bank strategists led by Binky Chadha wrote in a note Monday. "Looking throuogh the lens of our flows and positioning indicators, we see: strong inflows into inflation-protected bond funds as well as into equity funds focused on Energy, Materials and Financials, perceived to be beneficiaries of rising inflation; but positioning in commodities is not particularly high, as volatility remains elevated, and commodity focused funds have mostly been seeing outflows." The strategists added that flows into inflation-protected bond funds have been the strongest since 2010 over the last year, after seeing large outflows in March 2020 as the pandemic hit the U.S. — 7:23 a.m. ET Monday: Stock futures advance, Dow adds 100+ points, or 0.4% Here's where markets were trading in pre-market action: S&P 500 futures ( ES=F ) : 4,171.75, +20 (+0.48%) Dow futures ( YM=F ) : 34,281.00, +128.00 (+0.37%) Nasdaq futures ( NQ=F ): 13,493.50, +88.5 (+0.66%) Crude ( CL=F ) : $64.66 per barrel, +$1.08 (+1.70%) Gold ( GC=F ) : $1,882.50 per ounce, -$5.80 (-0.31%) 10-year Treasury ( ^TNX ) : 1.618%, -1.4 basis points NEW YORK, NEW YORK - MAY 11: People walk by the New York Stock Exchange after global stocks fell as concerns mount that rising inflation will prompt central banks to tighten monetary policy on May 11, 2021 in New York City. By mid afternoon the tech-heavy Nasdaq Composite had lost 0.6% after falling 2.2% at its session low. (Photo by Spencer Platt/Getty Images) (Spencer Platt via Getty Images) — Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck Read more from Emily: Charlie Munger on Robinhood and GameStop frenzy: 'It's a dirty way to make money' Charlie Munger says Costco 'has one thing that Amazon does not have' What happened in the economy in 2020 These tech jobs may disappear in the face of automation || It’s Official: El Salvador’s Legislature Votes to Adopt Bitcoin as Legal Tender: El Salvador officially recognizes bitcoin as legal tender. In an early Wednesday vote, a supermajority of the nation’s legislature voted in favor of President Nayib Bukele’s proposal for the Latin American nation to adopt bitcoin. The president intends to sign the bill into law later tonight or early in the morning. Sixty-two members of the legislature voted in favor of the bill, with 19 opposed and three abstentions. Related: Interactive Brokers to Offer Crypto Trading by End of Summer Bukele provided further details about his vision , pitched as an effort to boost financial inclusion in a country where only 30% of citizens have access to financial services, in a Twitter Space conversation early Wednesday morning hosted by Nic Carter of Castle Island Ventures and Coin Metrics. Users won’t necessarily have to use a government wallet, Bukele said. Bukele also said in the same Twitter Space conversation that the country is designing a new law that would grant permanent residency to any individual who invests three BTC into El Salvador’s economy. The bill that was just passed will mandate all businesses to accept bitcoin for goods or services, but the government will act as a backstop for entities that aren’t willing to take on the risk of a volatile cryptocurrency, the president said. A trust that the government will set up at the Development Bank of El Salvador to instantly convert bitcoin to U.S. dollars will assume merchants’ risk, he said. It will hold about $150 million in dollars. Related: China’s Qinghai Province Has Ordered All Crypto Miners to Shut Down “If there’s an ice cream parlor, he doesn’t really want to take the risk, he has to accept bitcoin because it’s a mandated currency, but he doesn’t want to take the risk of convertibility, so he wants dollars deposited in his banking account, when he sells the ice cream, he can ask the government to exchange his bitcoin to dollars,” Bukele said. “Of course, he can do that in the markets also, but he can ask the government to do it immediately.” Story continues The Development Bank’s trust fund would sell some of the bitcoin it receives for dollars to replenish the fund. Government officials from El Salvador will meet with the International Monetary Fund in the coming days to discuss the plan. Bukele also indicated that the government may promote bitcoin mining. El Salvador had already been hoping to draw businesses with excess geothermal energy, and while the government isn’t specifically looking to the bitcoin mining industry to fill that need, it is one such sector that could benefit, he said. Marc Hochstein , Danny Nelson and Seb Sinclair contributed reporting. Related Stories Bitcoin Holds Short-Term Support; Faces Resistance at $36K Bitcoin Jumps Most in 2 Weeks to $36K After El Salvador Passes Currency Law || Gold Price Futures (GC) Technical Analysis – Big Challenge for Gold Bulls at $1899.20 Retracement Level: Gold futures are edging higher early Monday, hovering around its highest level since January 8, reached just last week, while the U.S. Dollar Index sits just above a nearly three month low also reached last week. U.S. Treasury yields are trading nearly flat.
Without any major economic reports on Monday, gold traders may have to look to the outside markets like cryptocurrencies and stocks, for direction.
At 02:49 GMT,August Comex gold futuresare trading $1887.00, up $8.10 or +0.43%.
One concern for gold traders is Friday’s closing price reversal bottom in the June U.S. Dollar Index. If this chart pattern is confirmed by a move through 90.155 then sellers may return to the gold market.
The main trend is up according to the daily swing chart. A trade through $1893.20 will reaffirm the uptrend. A move through $1810.70 will change the main trend to down.
The minor trend is down. It changed to down on May 19 when sellers took out $1865.60. A trade through 1893.20 will change the minor trend to up. A move through $1854.40 will signal a resumption of the downtrend.
The main range is formed by the August 7, 2020 main top at $2120.00 and the March 8 main bottom at $1678.40. Its retracement zone at $1899.20 to $1951.30 is the next major upside target and potential resistance. Crossing over to the strong side of the Fibonacci level at $1951.30 will put the market in a bullish position.
The first minor range is $1810.70 to $1893.20. Its 50% level at $1852.00 is the nearest support.
The second minor range is $1756.80 to $1893.20. Its 50% level at $1823.90 is another potential downside target.
The direction of the August Comex gold futures market on Monday is likely to be determined by trader reaction to the major 50% level at $1899.20.
A sustained move over $1899.20 will indicate the presence of buyers. If this move can create enough upside momentum then look for an eventual move into the major Fibonacci level at $1951.30.
A sustained move under $1899.20 will signal the presence of sellers. If this move generates enough downside momentum then look for the selling to possibly extend into the first pivot at $1852.00. Since the main trend is up, buyers could come in on the first test of this level. If it fails then look for the selling to possibly continue into the next pivot at $1823.90. This is the last potential support before the main bottom at $1810.70.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• GBP/USD Daily Forecast – British Pound Moves Higher At The Start Of The Week || Fed’s Brainard Breaks Down CBDC Policy Considerations, Sees Price Pressures Waning in the Future: Digital payments and the growth of private money are two factors helping drive an increasing focus on central bank digital currencies (CBDCs), said Federal Reserve Governor Lael Brainard. A number of policy considerations remain before the U.S. can assess issuing a digital dollar, she said, speaking at CoinDesk’s Consensus 2021 on Monday. They include: preserving access to “safe central bank money,” increasing financial inclusion, payment and clearing efficiency, reducing cross-border frictions, complementing bank deposits and protecting both financial stability and personal privacy. “I do believe that in the context where we maintain the role of safe central bank money as a foundation for the payment system, there’s a lot of room for competition and innovation to flourish,” she said. Related: Bitcoin Rises to Near $40K After Musk Tweets About BTC Mining’s ‘Promising’ Renewable Usage While Brainard praised innovation, she said any regulatory framework must evolve and be shared across the different agencies with jurisdiction over the digital asset sector. Further, she said the U.S. should help develop the standards around cross-border payment systems, which CBDCs could provide. “I do think some cryptocurrencies are very different, in some cases, from more traditional financial assets,” she said. In prepared remarks , she said distributed ledger technology could lower costs, but digital assets also pose risks to cybersecurity, privacy and money laundering concerns. The longtime public official, who served in the U.S. Treasury Department prior to her role at the central bank, has warned regulators to pay attention to the digital-asset space for years, well before many agencies began taking an active role in the industry. Related: Marty Bent: Bitcoiners Must Fight for Energy Narrative Brainard revealed in 2020 that the Boston branch of the Fed was researching central bank digital currencies (CBDC) with the MIT Digital Currency Initiative. The branch is expected to publish its first report on this research later this summer. Story continues “Unlike central bank fiat currencies, stablecoins do not have legal tender status,” Brainard said in Monday’s speech. “Depending on underlying arrangements, some may expose consumers and businesses to risk.” Brainard also warned that the growth of private monies might prove detrimental to the U.S. payment system, which would in turn raise costs for businesses or households. She likened this risk to the wildcat banking activities of the 19th century in the U.S., when private entities issued their own paper money. The era is associated with inefficiency and fraud, she said. “It is not obvious that new forms of private money that reference fiat currency, like stablecoins, can carry the same level of protection as bank deposits or fiat currency,” she said. Public-private partnerships The Federal Reserve Bank of Boston plans to publish its first white paper detailing its research around central bank digital currencies this summer, Brainard confirmed. “The Federal Reserve Bank of Atlanta is launching a public–private sector collaboration as a Special Committee on Payments Inclusion to ensure that cash-based and vulnerable populations can safely access and benefit from digital payments,” Brainard said, referring to an announcement the central bank branch made earlier this month. Similarly, the Federal Reserve Bank of Cleveland is examining how a CBDC can boost financial inclusion. This effort will identify different features and approaches that can enable people locked out of traditional financial services to access them, she said. In response to a question from moderator and CoinDesk Chief Content Officer Michael Casey, Brainard said she is paying attention to how other countries like China are developing their own CBDCs. “The issuance of a CBDC in one jurisdiction … does potentially have significant effects across the globe,” she said. “And so it’s very important for us to follow many central banks’ progress on CBDCs.” Private monies Brainard also warned that the growth of private monies might prove detrimental to the U.S. payment system, which would in turn raise costs for businesses or households. “Unlike central bank fiat currencies, stablecoins do not have legal tender status. Depending on underlying arrangements, some may expose consumers and businesses to risk,” Brainard said in Monday’s speech. She likened this risk to the wildcat banking activities of the 19th century in the U.S., when private entities issued their own paper money. The era is associated with inefficiency and fraud, she said. “It is not obvious that new forms of private money that reference fiat currency, like stablecoins, can carry the same level of protection as bank deposits or fiat currency,” she said. The public official also warned there have been historical risks with private monies. “I think in a world where consumers and businesses retain access to a form of safe central bank money as part of that digital ecosystem, in fact we would see greater competition,” she said. “And that’s a good thing, it would be good to see a more dynamic, more innovative payment system foundation, a safe foundation that could provide greater opportunity for private sector participants to innovate.” Inflation concerns Brainard also addressed recent inflation data from April’s Consumer Price Index (CPI) report, which showed a 4.2% increase in prices since April 2020. The Fed governor emphasized that supply chain bottlenecks and base effects were pushing up year-over-year inflation numbers, and that higher inflation numbers were expected from an unprecedented “surge in demand” as vaccinations allow Americans to participate in pre-pandemic activities. “I would expect those price pressures associated with reopening and bottlenecks to subside over time,” Brainard said. “An important part is that longer term inflation expectations have been extremely well anchored.” While the deflationary pressures that have caused the economy to miss the Fed’s inflation targets for years could change, a new “inflation dynamic” would appear over time, Brainard added. “If we did see inflation above our goals persistently … we have tools and experience to gently guide inflation back down to target,” Brainard said. “No one should doubt our commitment to do so.” UPDATE (May 24, 2021, 14:15 UTC): Updated with additional context. Related Stories Rocky Mountain Institute Proposes Protocol to Track Climate Emissions IMF Official: ‘A World With More Than One Reserve Currency Is a More Stable World’ || Wait, This Is Why a Local Fox Reporter Sabotaged Her Career?: Fox 26 Fox 26 Houston general assignment reporter Ivory Hecker said Tuesday that she has been fired after interrupting a live on-air report to accuse her employers of “muzzling” her . In an interview with The Daily Beast on Tuesday afternoon, the 32-year-old reporter claimed she’d been terminated via text message and declared that she would never work in corporate media again—not even for Fox News, where she claimed “they wanted to bring me up.” Hecker went viral on Monday when she began a live report about the weather by revealing that she provided secret recordings to Project Veritas, the right-wing activist group founded by James O’Keefe, supposedly proving corruption and censorship at her station. “Before we get to that story, I want to let you, the viewers, know that Fox Corp. has been muzzling me to keep certain information from you, the viewers,” Hecker said during the Monday on-air report. “And from what I’m gathering, I am not the only reporter being subjected to this.” “I am going to be releasing some recordings about what goes on behind the scenes at Fox, because it applies to you, the viewers,” she declared. “I found a non-profit journalism group called Project Veritas that is going to help put that out tomorrow, so tune in then.” Hecker then pivoted to her report, which featured her standing in front of a man repairing an air-conditioning unit. Hecker was initially suspended by the station on Tuesday morning. When The Daily Beast reached her by phone in the afternoon, Hecker said she’d just landed in New York before a male voice in the background asked her who she was speaking with. After she mentioned a Daily Beast reporter was on the phone, the unidentified person told her to “get off the phone now.” Moments later, Hecker called back and confirmed that she had just been terminated by Fox 26 within the past hour. Reporter Says Live On Air That Fox Corp. Is ‘Muzzling’ Her, Proceeds With Weather Report The station, meanwhile, confirmed that Hecker was no longer an employee while torching her for pairing up with Project Veritas. Story continues “FOX 26 adheres to the highest editorial standards of accuracy and impartiality,” a Fox 26 spokesperson told The Daily Beast. “This incident involves nothing more than a disgruntled former employee seeking publicity by promoting a false narrative produced through selective editing and misrepresentation.” “I have been longing to part ways with this strange, slightly unhinged corporation since last August when I realized what they were,” Hecker told The Daily Beast. “The piece with Project Veritas doesn’t touch what they did. Fox 26 knows I’m fearless.” She added: “I have zero interest in working for another corporation. They all toe the same line.” Hecker even took a jab at the flagship network of her former employer’s parent company: “I would turn down Fox News. They wanted to bring me up to the network. I met a lot of executives there and I don’t want to talk to them anymore. It came from one of the top executives there that what I needed to succeed was to get in line with the narrative.” A Fox News spokesperson, however, confirmed the network did have a single meeting with Hecker but claimed it was only as a courtesy and the reporter was never offered a job with the network. Ultimately, the drama surrounding Hecker’s on-air stunt proved to be more salacious than the actual allegations contained within her “sting” videos revealed on Tuesday evening. The 10-minute video featured Hecker sitting down with O’Keefe to allege that Fox 26 management purposely steered her away from legitimate news stories in order to support a specific agenda handed down from corporate headquarters. In one piece of surreptitiously recorded footage, Fox 26 assistant news director Lee Meier was seen explaining why the station does not do more stories on Bitcoin. In the clip, Meier said it’s “an editorial choice” to not cover the cryptocurrency because it likely would not appeal to the station’s early-evening broadcast viewership. “I have passed on Bitcoin stories by almost every single reporter for our five o’clock audience, because that’s not our five o’clock audience,” Meier stated. “So, there are lots of reasons. If I know our numbers are tanking from five to six and in one particular segment… I may say, yeah, and Bitcoin for poor African-American audience at five, it’s probably not going to play. That’s a choice I’m making.” Reacting to Meier’s rather mundane remarks about the incentives of broadcast news, Hecker declared to O’Keefe: “I want out of this narrative news telling! I want out of this corruption!” Hecker also contended that Fox 26 attempted to censor her over her coverage of hydroxychloroquine, an anti-malarial drug hyped by former President Donald Trump as a miracle COVID-19 cure but found to be largely ineffective against the virus. In a recorded call with Meier and Fox 26 vice president and news director Susan Schiller, Hecker was told she “failed as a reporter” for not looking at the “latest research” on the drug before boosting a post from a local doctor hyping it as a COVID-19 treatment. “You need to cease and desist posting about hydroxychloroquine,” Schiller told Hecker. Station management’s critical comments to Hecker appear to center around an August Facebook post the reporter shared last August, featuring Dr. Joseph Varon’s claim that he used hydroxychloroquine to “good success.” In the call with her bosses, Hecker claimed the studies downplaying the effectiveness and safety of the drug made Varon’s comments more newsworthy. At the same time, she brought up Dr. Stella Immanuel, noting that she also referenced clinical research about hydroxychloroquine’s efficacy in her story about the controversial doctor. Immanuel, who believes sex with demons makes you sick , baselessly insisted that the anti-malarial drug is a “cure for COVID,” drawing praise from Trump but bans on social-media platforms. Hecker’s reporting on Immanuel at the time was largely sympathetic , painting her as a victim of “ mass censorship .” “They sent me to interview Dr. Joseph Varon, a highly respected doctor who did 1,600 media interviews,” Hecker told The Daily Beast. “They banned me permanently—after my interview—from covering COVID-19 medical treatments.” The Project Veritas video also featured undercover videos of Fox 26 employees from the conservative group’s own operatives, though these also appear to be more than a bit overhyped—largely involving low-level station staffers from its business side. In one clip, an undercover Project Veritas staffer spoke with a sales coordinator and promo producer at a loud bar over drinks. The Fox 26 employees acknowledged at one point that the Centers for Disease Control and Prevention (CDC) is paying for advertising at the station, noting that they tend to be able to outbid other sponsors, eventually prompting the Project Veritas operative to try to connect the dots between vaccine advocacy in the station’s news coverage and money it received from the government’s ad purchases. “So could the Ad Council call you and be like, ‘Hey, I want to run all these spots but I want to make sure your journalists aren’t running any anti-vax stories’?” the Project Veritas plant asked. “If that happens, it’s above our [pay grade],” the promo producer replied. “Does that stuff like that ever happen?” the Project Veritas operator pressed some more. “It can, a lot of stuff can happen,” the sales coordinator responded. Elsewhere, another undercover operative got a Fox 26 photographer to give his opinion that the station’s coverage is “pushing” vaccines more than it needed to. Eventually, though, it appeared that Hecker herself even admitted that there wasn’t any real smoking-gun evidence of corporate corruption preventing the station from reporting real news. “There’s always that concern that the corporation might cater too much to advertisers or self-censor to make sure they don’t lose any advertisers,” she declared. At the end of the video, meanwhile, Hecker sounded as if she was outright auditioning for a job in right-wing media. “I want to tell true stories without fear of if it fits the corporate narrative,” the reporter intoned, prompting O’Keefe to dramatically add: “Ivory Hecker is ready to pursue a career in independent journalism where she can report the news without fear or favor.” —Diana Falzone was an on-camera and digital reporter for FoxNews.com from 2012 to 2018. In May 2017, she filed a gender discrimination and disability lawsuit against the network and settled, and left the company in March 2018. Read more at The Daily Beast. Get our top stories in your inbox every day. Sign up now! Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more. || Circle Says It Lost $2M to Email Fraudsters in June: Circle Internet Financial lost $2 million to email fraudsters in an incident that occurred last month, the payments company said in Thursday regulatory filings. The email fraud incident did not impact customer funds and accounts, and Circles information systems remained secure, Circle said. It said the unnamed fraudsters stole $2 million in company-owned funds in June 2021. Circle made the disclosure as part of its preparation to go public through a merger with a special purpose acquisition company . The $4.5 billion payments company is positioning itself to be Wall Streets highest-profile stablecoin specialty firm. Related: Market Wrap: Bitcoin Sells Off as Regulatory Concerns Resurface Circle did not elaborate on the incident in its SEC filings. A spokesperson declined to comment. Related Stories USDC Is Only Circles Second-Biggest Business, SPAC Filing Shows Circle CEO Says USDC to Take High Road, But Its a Long Road Circle Lost $156M on Poloniex Acquisition, SPAC Documents Reveal
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 29807.35, 32110.69, 32313.11, 33581.55, 34292.45, 35350.19, 37337.54, 39406.94, 39995.91, 40008.42
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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 2021-01-12]
BTC Price: 33922.96, BTC RSI: 59.32
Gold Price: 1842.90, Gold RSI: 43.43
Oil Price: 53.21, Oil RSI: 76.57
[Random Sample of News (last 60 days)]
4 Big Reasons Bitcoin Belongs in Your Portfolio: As of this writing, the price of bitcoin is about $19,000 and, at less than 15% of my net worth, the single largest position in my portfolio. In the below paragraphs, I hope to articulate why – contrary to the common narrative – this is not crazy.
This post is part of CoinDesk’sYear in Review 2020– a collection of op-eds, essays and interviews about the year in crypto and beyond. Pondering Durian is a tech-focused investor and writer who explores connections between the U.S., China, and Emerging Asia (India and Southeast Asia) in the Emergingnewsletterandblog.
The core narratives I use to justify my significant holdings inBTCare as follows:
Related:'Happy Staking': Ethereum Core's Danny Ryan on 2.0 in 2021
Bitcoin as insurance: The probability of a reserve currency meltdown near-term is exceptionally low. However, as the probability inches up, more people will want an insurance policy. There are only 21 million bitcoins. More people wanting an insurance policy + static number of policies = price increases per policy.
Bitcoin as exit: Due to accommodative monetary policy, asset prices have not undergone their typical cycles which would have allowed millennials to access assets at affordable prices while artificially boosting the wealth of Gen X and boomers. Instead of playing in a “rigged system,” many millennials are exploring alternatives. More and more millennials will choose to “exit.”
Bitcoin as reflexivity: Bitcoin is the ultimate speculative asset. Like other forms of money, bitcoin only has value because other people believe it has value. There is a legit argument to be made that as prices increase and more people learn about the asset, the greater the probability Bitcoin will be more widely accepted, which merits a further increase in price.
Bitcoin as an “option” on digital gold: The bitcoin as digital gold metaphor is not quite right. Today it’s more of a call option on digital gold, a bet that over time, more and more investors will accept this view. Every new wave of investors which come to understand the narrative–retail investors, early adopting institutions, laggard asset managers and finally governments (in the ultimate bull case)–presents a step change in price as narrative becomes reality.
Related:10 Predictions for 2021: China, Bitcoin, Taxes, Stablecoins and More
Note: I’m writing from the perspective of a millennial with a fairly high risk tolerance, lean expense structure and long-term time horizon. Clearly, the allocations would be different for a parent heading towards retirement with college tuition payments and a mortgage to fund monthly. The asset is exceptionally volatile, with a decent chance of total collapse. However, if you are able to stomach near-term volatility and are aware of the risks, the upside makes the below allocations justifiable: ~15% gold, ~15% bitcoin/ETH, ~10% cash and ~70% equities/real estate.
Let’s find out why.
The only way to understand why this allocation makes sense is to zoom out and take in the big picture. There is a war going on, the accelerating deflationary forces of technology vs. the inflation-desperate central banks. A reflexive loop has formed:
The avenues for paying back the massive government debts now building are austerity, restructuring, faster GDP growth or devaluing the currency. Austerity is politically untenable and often limits GDP growth hurting debt to GDP ratios.
Furthermore, GDP growth is hard to come by in our stagnating, debt-laden economies. Restructuring would likely be catastrophic to the existing financial system. Devaluing the currency is the only realistic, politically tenable option. Growing GDP and controlled inflation are the means by which central banks have typically reduced debt burdens. Stimulus–providing cheap credit–has been the tool of choice. However, the ever-increasing stimulus is having a diminishing impact. We needmore and more cheap debtto buy $1 of GDP growth.
Against the backdrop of this monetary and fiscal circus, bitcoin’s narratives are finding their way into more and more portfolios.
Debt growth is outpacing GDP growth, which means the best option to stabilize the debt/GDP ratio is stoking inflation.
However, in recent years, inflation has been hard to come by despite quantitative easing on a global scale: the U.S. Federal Reserve has missed its 2% inflation target in eight of the last 12 years since the global financial crisis. This seems to be brought on by an increasing debt overhang as well as the deflationary forces of technology.
As Jeff Booth points out in “The Price of Tomorrow,” the easiest place to see the deflationary forces of technology is your smartphone. What would have previously been a separate collage of supercomputer + flashlight + calculator + wallet + camera + television + yellow pages + a zillion other things now fits into your pocket for prices affordable for billions. You get more for less. Many things today are basically free.
The deflationary forces of exponential digitization vs. central banks desperate to stoke inflation to pay back their large debt burdens. The key economic struggle of the 21st Century.
Based on rates of inflation, tech seems to have the upper hand. Our government’s response? More stimulus.
Clearly, this cannot go on forever, but it will last longer than many people think. Let’s look at the winners and losers of this current monetary regime.
Clearly, in a monetary regime of near-zero interest rates, savers are hit hard and yields on bonds turn progressively negative (in real or even nominal terms). The increased liquidity in the system has not flowed to goods and services (causing inflation) but is flowing into the equity markets (inflating asset prices – the only place with real returns to act as a store-of-value for future spending). The more money printed (or cheap debt issued), the higher equity prices are likely to go given the lack of alternatives in other asset classes to store wealth.
If you look at the equity indices globally since the unprecedented quantitative easing (QE) after the 2008 financial crisis, I think the trend ispretty clear.
If you believe we will continue to be in a deflationary environment (which seems likely given the increasing role of tech) and you believe governments will try desperately to stoke inflation (which they will because it is the least painful way to “repay debts”) and you believe their tools for stoking inflation are limited largely to more stimulus (which appears to be the case), then this trend will continue.
In that case, equities – with decent exposure to tech (adjusting for valuation) – seem like a good place to play ball. Hence my 70% weighting(as a young person with a long-term outlook).
How long can this cycle last?
As I mentioned in a previous post, it could last until the U.S. dollar (USD) loses its status as the global reserve currency. In short, for quite some time.
I think the below excerpt frommy newsletterback in June explains the dynamic well:
To quote 15th century Dutch philosopher Desiderius Erasmus, “In the land of the blind, the one-eyed man is king.” In 2020, the U.S. is the one-eyed king.
Despite poor fiscal and monetary practices, near-zero interest rates and an increasingly ailing balance sheet, demand for dollars and Treasury bonds remains strong. There is simply nowhere else to go.
Japan has been stagnating since the 1990s with adebt/GDP ratio of ~230%. The European Union is following suit and the very existence of the monetary union is in question. There is a high probability the euro doesn’t see 2030. Pound sterling is a relic from a colonial past and is rapidly being weaned from reserves. While China has a healthier government balance sheet, there are strict capital controls for a reason. It’s doubtful China will rapidly open its financial borders after thestrong outflow pressures witnessed in 2015 and 2016. The rule of law is still too arbitrary.
That leaves the U.S.
Even with the record stimulus, there is an “insatiable demand” for U.S. treasuries.From the Financial Timeson a possible additional $3 trillion in U.S. government borrowing:
Financial markets have so far had little difficulty in digesting the supply, with Treasury yields ticking slightly higher but still hovering close to record lows. The 10-year note now trades at 0.67 percent, roughly 1 percentage point lower than where it began the year…
There is a seemingly insatiable demand for U.S. dollar debt. There is little to suggest that the Treasury [Dept.] will have any issue funding [the government]”
The U.S. is still the only game in town.
These current trends, the central bank remedy and the sticky nature of reserve currency status points to a bull case for the continued expansion of global equities. If this base case happens, a majority equities portfolio will do well, and gold will underperform but still likely appreciate slowly.
To hedge against the downside, a mixture of cash, gold and bitcoin seem compelling.
However, a lot of smart people are starting to analyze this cycle and concluding it cannot last forever. Ray Dalio’sextended debt cyclewill need to unwind slowly or pop. Unfortunately, while still a ways off, the short-term nature of our four-year election cycle makes the latter scenario increasingly likely. Populism is in. Technocrats are out.
To hedge against the downside, a mixture of cash, gold and bitcoin seem compelling. USD in the event of a non-catastrophic downturn, gold in the event of a non-catastrophic or catastrophic downturn and BTC in the event of a catastrophic downturn, but with simultaneous upside characteristics near-term as penetration grows.
Considering this backdrop, a not-insignificant allocation to BTC strikes me as justifiable. If you are wrong, then equities will likely continue to perform well and your portfolio should be fine. Even if it goes to zero, you will not be on the street.
Despite being young and extremely risky, bitcoin’s narratives resonate with me. Assuming others think similarly, there is a lot of upside in being in early.
As stated above, bitcoin could be seen as a put option on continued irresponsible monetary and fiscal policy–surging in price when the extended debt cycle finally pops. Foreign governments eventually balk at buying U.S. Treasurys as debts continue to pile up.
Under this scenario, the financial system would likely have a catastrophic collapse leading to a scramble for “hard money,” of which bitcoin (along with gold) is a leading candidate. Still, reserve currencies are notoriously sticky; the above scenario is unlikely to play out on a medium-term time horizon. What is more likely is …
As more investors piece together the above reflexive loop, they will explore allocations to protect their downside. Gold has clearly been a recent favorite. However, BTC’s current market cap is just ~$350 billion (at time of this writing) relative to gold at ~$10 trillion. As the narrative around “digital gold” continues to gain adoption, step change increases in value are possible as different waves of investors decide to take a bet on the narrative. As historianNiall Ferguson notes, if all the world’s millionaires decide a ~1% portfolio allocation to bitcoin is worth the hedge, then the price per coin is ~$75,000.
There is growing discontent among millennials with expanding inequality. The low returns to labor and the monetary shenanigans that are propping up asset prices beyond their grasps are key drivers. While the increasing popularity of hard left politicians like U.S. Sen. Bernie Sanders or Rep. Alexandria Ocasio-Cortez is one symptom, crypto provides a more libertarian option. “If the existing system isn’t working for me and protects the wealth of my parents and baby boomers, then it’s time to play in a new sandbox.” Crypto is the new sandbox with algorithmically transparent rules of play. As cohorts age, more people and dollars will find themselves in the crypto sandbox.
As readers of my newsletter know, I’m a fan of George Soros’ reflexivity framework–essentially that subjective and objective reality are intertwined and dynamic. I believe in 2020 we are reaching an era ofpeak reflexivity, and bitcoin is the ultimate reflexive asset. Perfectly crafted to ride these trends.
As Naval Ravikant put it: “Money is the bubble that never pops. It’s a consensus hallucination.”
I’m bullish on bitcoin because of the unique technical properties ensuring scarcity but even more so because of the hard-core evangelical following. Many will never sell. More folks getting religion + constrained supply = a one-way impact on price.
At the end of the day, humans are social creatures and use narratives to derive meaning. Bitcoin presents a compelling narrative to many people, especially those below the age of 40. The top-heavy baby boomer demographic disparages it, the same people who will be gone when the massive debt bills finally come due.
See also: Hong Fang –The Complete Case for $100K Bitcoin
This narrative isn’t for them.
Crypto is a vehicle outside of the existing political system to serve as a forcing function. A mechanism to exit the old game headed for bankruptcy and start a new one which cannot be co-opted politically. The potential to serve as the massive intergenerational wealth transfer which never happened under the current system because the Fed keeps propping up asset prices.
A fresh start.
Against the backdrop of this monetary and fiscal circus, bitcoin’s narratives are finding their way into more and more portfolios.
At some point, the hallucination just becomes reality.
Note: Please note I am not a financial planner, and this should not be considered professional investment advice. Please do your own research and only invest what you are comfortable losing in its entirety. || OBITX, Inc Takes First Step To Acquire Check Cashing Operations: Fleming Island, Florida, Dec. 22, 2020 (GLOBE NEWSWIRE) -- December, 22, 2020 Fleming Island, Florida, OBITX, Inc (OTC:OBTX), an advanced software development and services company specializing in blockchain technologies and decentralized processing, announced today it has signed an LOI in order to negotiate the final terms for entering into a binding purchase agreement for the purpose of acquiring a check cashing kiosk business from Kronos Advanced Technologies, Inc. (OTC:KNOS). OBITX sees this transaction as a stepping stone in developing and acquiring a larger, related chain of check cashing machines throughout the US. OBTX is planning to offer discounted check-cashing services and will promote the new services through online advertising, in-store signs, and special events, all aimed at consumers who use a check-cashing services. Web-enabled check cashing kiosks merge unique and exclusive check cashing capabilities with Internet-based applications. Upon the final acquisition OBTX will begin development of Bitcoin buy/sell capabilities to be integrated into a nationwide network of a growing number of kiosks. Services OBITX Company plans to integrate will include BITCOIN ATM transactions, money orders and transfers as well as check cashing. Michael Hawkins, the OBITX CEO stated, With our goal of acquiring a larger database of customers having several hundred already placed check cashing machines Nationwide, if successful in moving to this next phase, we will be able to expand the current services offered with additional blockchain and cryptocurrency features to be added down the road. This is a highly strategic step in the development of our business model. We believe this is the right fit for our team with emphasis on our passion for development. We thank our largest preferred shareholder, BOTS, Inc. (OTC:BTZI) for bringing this opportunity to our attention. About OBITX: Headquartered in Fleming Island, Florida, OBITX, Inc., (OTCMKTS: OBTX) is a consulting and services organization specializing in blockchain technologies and decentralized processing. Forward Looking Statements This news release contains forward-looking statements which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as anticipate, seek, intend, believe, estimate, expect, project, plan, or similar phrases may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Companys reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Story continues CONTACT: Contact: Michael Hawkins [email protected] View comments || Bitcoin Miners Saw 48% Revenue Increase in November: Bitcoin miners generated an estimated $522 million in revenue in November,up 48% from October, according to on-chain data from Coin Metrics analyzed by CoinDesk.
The sharp revenue increase came asbitcoinsoared through November,setting a new all-time highby month’s end after gaining over 40%. Monthly aggregate revenue in November hit the highest level since September 2019.
Revenue estimates assume miners sell their BTC immediately.
Related:Bit Digital Completes $13.9M Deal for New Mining Machines
Measured by revenue per terahash (TH), the unit measurement for the speed of cryptocurrency mining hardware, miner revenue hit six-month highs as it climbed above $0.15 multiple times in November, the highest level since early May, according to data aggregated by mining software companyLuxor Technologies.
Despite significant intra-year volatility, mining revenue measured by terahash per second (TH/s) is roughly flat year to date from roughly $0.138 per TH/s on Jan 1 to $0.135 per TH/s at last check.
Network fees brought in $54.9 million in November, or nearly 11% total revenue, a slight percentage decrease from the 12.2% of revenue represented by fees in October.
Fees steadily declined through November, coming down from the roughly two-year highs in late October, dropping from a $13 average transaction fee at the start of November to below $3 near month’s end, per Coin Metrics.
Related:Hive Reports $7.4M Q2 Profit as Lower Costs More Than Offset ‘Big Spend’ on Expansion
Notably, fees as a percentage of total revenue continues a strong upward trend since April, prior to the network’s third-ever block subsidy halving in May. Increases in fee revenue are important to sustain the network’s security as the subsidy decreases every four years.
Taking advantage of the revenue increase, miners are bringing more and more machines online after early November’srecord difficulty drop, with the past two adjustments resulting in difficulty increases and a third consecutive increase projected for mid December, meaning an increase in resources required to mine than at a lower difficulty level.
As analysts predictbitcoin’s current rally is sustainablewith the strong possibility of continued upward price movement, miners eye continued revenue growth through the end of 2020.
• Bitcoin Miners Saw 48% Revenue Increase in November
• Bitcoin Miners Saw 48% Revenue Increase in November || Stocks, U.S. yields climb after Democrats win control of the Senate: By Rodrigo Campos NEW YORK (Reuters) -Bond prices dropped and stocks hit record highs on Thursday as investors bet Democratic control of the U.S. Congress would enable President-elect Joe Biden to borrow and spend heavily, while higher yields helped a bruised dollar recover from near three-year lows. The bullish sentiment remained throughout the day even as the top two Democrats in Congress called for President Donald Trump to be removed from office, one day after his supporters stormed and vandalized the U.S. Capitol in a rampage that left four people dead. U.S. Treasuries prices extended their steepest sell-off in months, with the benchmark yield at its highest in 10 months. Victories in two Georgia races handed the Democratic Party narrow control of the U.S. Senate, bolstering Biden's power to pass his agenda with his party controlling both chambers. The MSCI world equity index, which tracks shares in almost 50 countries, rose more than 1% to hit a record high for the third session this week. After a shaken Congress formally certified Biden's election victory in the early hours of Thursday, Wall Street focused on the implications of the Democrats' control of Congress. Major indexes hit record highs on bets that more pandemic stimulus will help the economy ride out the downturn. "The market is now looking past Trump and it's looking forward to a Biden presidency, more structure and stimulus," said Dennis Dick, a trader at Bright Trading LLC. "A Democratic Congress is going to obviously be more concerned about the small businesses, and the Main Street." The Dow Jones Industrial Average rose 211.73 points, or 0.69%, to 31,041.13, the S&P 500 gained 55.65 points, or 1.48%, to 3,803.79 and the Nasdaq Composite added 326.69 points, or 2.56%, to 13,067.48. The pan-European STOXX 600 index rose 0.51% and MSCI's gauge of stocks across the globe gained 1.18%. Emerging market stocks rose 0.53%. Earlier, MSCI's broadest index of Asia-Pacific shares outside Japan had risen 0.35% and Japan's Nikkei hit its intraday highest since 1990 before ending up 1.6%. Story continues The prospect for future stimulus spending sent bond prices lower, with the yield on the benchmark hitting its highest since March. It rose as high as 1.088% on Thursday. [US/] "The Georgia Senate elections just added a tailwind to existing trends of reflation and upward pressure on Treasury yields," said Bill Merz, head of fixed income research at U.S. Bank Wealth Management in Minneapolis. Benchmark 10-year notes last fell 12/32 in price to yield 1.0812%, from 1.042% late on Wednesday. The 30-year bond last fell 27/32 in price to yield 1.859%, from 1.821%. BRUISED DOLLAR The Democrats' victory also reverberated in currency markets. The dollar had sunk to a near three-year low against a basket of six major currencies, with traders betting growing U.S. trade and budget deficits would further weigh on the greenback. On Thursday, it rose 0.549%, on track for its strongest session since at least late October, with the euro down 0.02% to $1.2268. The Japanese yen strengthened 0.01% versus the greenback at 103.78 per dollar, while Sterling was last trading at $1.3564, up 0.01% on the day. "Once (Treasury yields) start to move, as they did yesterday, it wasn’t a big move but it was in the right direction, that is the direction of the future," said Joseph Trevisani, senior analyst at FXStreet.com. Oil prices touched their highest since late February as markets remained focused on Saudi Arabia's unexpected pledge to deepen its oil cuts. U.S. crude recently rose 0.57% to $50.92 per barrel and Brent was at $54.57, up 0.5% on the day. Spot gold % to $1,913.07 an ounce. Silver gained 0.19% to $27.16. Bitcoin hit a record high that breached the $40,000 mark, and was last up 7.05% at $39,446.75. (Reporting by Rodrigo Campos; additional reporting by Tom Wilson and Noah Browning in London, Laura Sanicola, Herbert Lash and Chuck Mikolajczak in New York and Karen Pierog in Chicago; Editing by Alistair Bell, Nick Zieminski and Dan Grebler) || Governments Will Start to Hodl Bitcoin in 2021: Reflecting on 2020, I struggle to think of another year in recent decades with both so many all-time highs and all-time lows. From the COVID-19 pandemic raging across the global population to record-setting wildfires in the western United States to numerous other calamities, the world this year has often appeared figuratively and literally in flames. This post is part of CoinDesks 2020 Year in Review a collection of op-eds, essays and interviews about the year in crypto and beyond. Garrick Hileman is head of research at Blockchain.com and a visiting fellow at the London School of Economics. Current research interests include governance, digital entrepreneurship, financial repression and measuring crypto-asset adoption. Related: More Aussies Back Bitcoin, the Underdog Starkly juxtaposed with this death and destruction have been uplifting scenes of pandemic-stricken communities pulling together and celebrating front-line workers, innovations such as astonishingly fast vaccine development and the first privately funded, human-flown space launch of a reusable rocket and the red-hot markets and crypto-asset space, the focus of this article. Years from now, I believe we will look back on 2020 as a critical inflection point in the wider adoption of crypto-assets and blockchain technology. From the long-heralded and -awaited arrival of institutional crypto adoption , to the acceleration of digital currency and payments spurred on by the pandemic, to greater regulatory clarity in key jurisdictions like the U.S., 2020 has proven, in my view, to be cryptos best year yet. As we head into 2021, what can we expect for crypto? Related: Why Impact Investing and Crypto Are Mutually Beneficial Two macro forces that have powered the ascent this year of crypto assets like bitcoin to yet another new all-time high show little signs of slowing down. 1. Outsized government spending and money printing Arguably the single biggest factor driving increased crypto asset valuations and adoption is concern over government spending and monetary stimulus. Indeed, debt levels were already worrisome prior to the pandemic, with many ( myself included ) sounding the alarm over world-war levels of public indebtedness, sans world war. Story continues However justified the generally bipartisan pandemic stimulus may be, the simple mathematical reality is that when governments and central banks suppress interest rates and increase the money supply, then the value of relatively scarce assets will often increase. Simply put, more fiat currency and debt chasing a finite number of things (e.g., bitcoin) equals a higher price for those things. Within the crypto space the biggest winner from this trend is bitcoin, which appears to have achieved broader product market fit this year on Wall Street and elsewhere around its digital gold investment thesis. Indeed, there are some recent indications that, alongside growing inflation fears, some investors are rotating part of their gold portfolio allocation into bitcoin. A continuation of this trend would provide strong support for further bitcoin price appreciation. See also: Worsening US Dollar, Inflation Metrics Bode Well for Bitcoins Continued Rally With the development of several promising vaccines, the COVID-19 pandemic and accompanying damaging economic restrictions should begin winding down sometime in 2021. However, an unprecedented global debt overhang will remain, creating debt sustainability concerns for the foreseeable future and a bullish tailwind for algorithmically supply-constrained crypto assets. 2. U.S.-China economic and geopolitical tension Even with the upcoming change in U.S. presidential administrations, geopolitical and strategic competition between the worlds two superpowers China and the U.S. is unlikely to abate. What this evolving clash of superpowers fully means for crypto is something we are still just beginning to understand, but some likely outcomes include: Increased government spending on a new Cold War, exacerbating macro force #1 above Accelerated rollout of central bank digital currencies Divided global governance and financial systems All of these developments are broadly positive for relatively decentralized crypto assets like bitcoin and ether . While central bank digital currencies may pose challenges for some more centralized crypto asset networks (e.g., stablecoins ) in the form of increased competition and regulatory scrutiny, the further digitization of fiat currency and payments is more complementary than competitive for decentralized crypto assets like bitcoin, which will have less design overlap. For example, central bank digital currencies will not feature a finite supply like bitcoins 21 million-coin hard cap, and it is also extremely unlikely they will have the same degree of censorship resistance and trust minimization as bitcoin. Bitcoin is a powerful tool in promoting freedom and open society values. A divided global governance picture means we are unlikely to see the type of widespread and coordinated regulatory crackdown that hedge fund manager Ray Dalio and others have suggested will occur if crypto ever gets too big. And a multi-polar global financial system, carved up into U.S. and Chinese spheres of influence, arguably creates space and motivation for more neutral blockchain-based assets and financial infrastructure. Money historian Niall Ferguson (my PhD supervisor) also argued recently that part of the reason the U.S. should embrace bitcoin and crypto assets is to support a more privacy conscious and open financial system versus the more centralized one being actively promoted by China via its central bank digital currency, the DCEP. Theres also the question of who controls or influences the largest public blockchains, like Bitcoin and Ethereum. Acting U.S. Comptroller of the Currency Brian Brooks recently fretted over Chinas outsized influence over cryptocurrencies like bitcoin through their dominant share of the computational mining power securing blockchain networks. This concern over Chinese influence over Bitcoin and Ethereum was also recently echoed by Ripple in its response to the recently filed Securities and Exchange Commission lawsuit. The growing support for crypto among those concerned with democratic values and the global balance of power could mean we also soon see one of the most positive developments for crypto assets: governments taking a direct role in supporting and even owning crypto assets. While admittedly speculative, it is possible to imagine the U.S. and China both gaining from more fully embracing crypto assets like bitcoin. As I have previously argued, an ascendant financial superpower like China could potentially leapfrog up the reserve asset league tables on the cheap by actively acquiring bitcoin. FOMO is not something restricted to private-sector market participants, and first mover nation states will gain the most in any race to acquire a new reserve asset. As an American my hope is the U.S. will think twice before rushing to auction off its latest law enforcement seizure of nearly 70,000 bitcoins connected to the shuttered Silk Road marketplace. See also: Mable Jiang Bridging Cultural Gaps in 2021: Crypto in China and the US At the same time, the U.S. and other democractic countries may increasingly come to see permissionless and relatively decentralized blockchain networks as similar to the open internet: a powerful tool in promoting freedom and open society values. Post-pandemic acceleration While the pandemic and its punishing economic and social restrictions will, I hope, end next year, there is little reason to believe the accelerating crypto adoption we are currently witnessing will end along with it. This year has cemented the notion that crypto assets are not only not going away but will be integral to our financial lives going forward. As we close out a very trying and historic 2020, the future has never looked brighter for bitcoin and crypto asset ownership and use. Related Stories Governments Will Start to Hodl Bitcoin in 2021 Governments Will Start to Hodl Bitcoin in 2021 || On-Chain Data Suggests More Institutions Are Buying Bitcoin Over the Counter: Despite bitcoin trading near all-time highs, more institutions continue to buy bitcoin, and theyre using over-the-counter (OTC) trading firms to keep their purchases from impacting the overall market. Unlike retail investors or smaller institutions that use crypto exchanges, large institutions usually trade bitcoin through the OTC market, noted John Todaro, director of institutional research at cryptocurrency analysis firm TradeBlock. That way, their transactions wont move prices the way they would had the investors used even the largest centralized exchanges. One reason thats the case is OTC transactions are also much more opaque compared with trades on exchanges. Without transparent data on OTC transactions, it is difficult to track or gauge this side of the crypto market. Related: Square's Cash App Now Lets Customers Get Bitcoin Back on Purchases However, three different metrics monitored by blockchain analytics firm CryptoQuant provide an idea of whats happening in the crypto OTC market and could give clues that in the coming weeks and months, more large institutions may come out to disclose their bitcoin positions. When a massive bitcoin outflow takes place on Coinbase Pro, it tends to go to Coinbases own cold wallets for custody that hold 6,000-8,000 BTC, according to Ki Young Jun, chief executive of CryptoQuant. We only know its not going to hot wallets [because] we have their address labels, Ki added. Exchange users withdrawals can happen, but I would say 99% of big single transactions over 5,000 bitcoin are either internal transfers or going to custody wallets. For example, a closer look at the spike in bitcoin outflow that took place on Dec. 12 shows that between 8,000 and 15,000 BTC were moved out of Coinbase Pro to other cold wallets, an implication of OTC deals, Ki said. Related: Tiny Capital's Wilkinson Shows Interest in Bitcoin Coinbase Custody is directly integrated with Coinbases OTC desk, meaning that its clients can leverage the OTC desk without having to move funds out of cold storage. Story continues Read More: Coinbase Completes First OTC Crypto Trade Directly From Cold Storage Both MicroStrategy and British investment firm Ruffer have revealed that their purchases of hundreds of millions of dollars worth of bitcoin were facilitated by Coinbase. Read More: Ruffer Investment Used Coinbase to Execute $745M Bitcoin Buy Another metric, the fund flow ratio for all exchanges, has gone down since the market sell-off in March. This is the ratio of network transaction volume of exchanges compared to the entire cryptocurrency transferred on the network. A lower number means fewer transactions that are done on exchanges and are instead conducted outside exchanges such as over-the-counter. Notably, the last time the fund flow ratio was at the current level (approximately 5%) was when major crypto exchanges launched their OTC desks in early 2019. Read More: Bittrex Launches OTC Trading Desk With 200 Cryptocurrencies The third metric, the total amount of bitcoin transferred on the blockchain, has continued growing. This, coupled with the decreased fund flow ratio, indicates that potential massive OTC deals from the likes of institutions are ongoing, Ki said. What were seeing is an entire class of investors who are new to the crypto market and want to establish positions, Matthew Hougan, chief investment officer at Bitwise Asset Management, told CoinDesk. They are not so much buying the dip as simply buying, consistently and over time. Related Stories On-Chain Data Suggests More Institutions Are Buying Bitcoin Over the Counter On-Chain Data Suggests More Institutions Are Buying Bitcoin Over the Counter || Bitcoin Price Could Hit $50K in 2021, Bloomberg Analysts Say: The path of least resistance for bitcoin is on the higher side, and the cryptocurrency could more than double from its current value in 2021, according to Bloomberg analysts. Bitcoin will maintain its propensity to advance in price into 2021, in our view, with macroeconomic, technical and demand [versus] supply indicators supportive of $50,000 target resistance, implying about a $1 trillion market cap, noted Bloomberg Crypto in a monthly report. The demand-supply mechanics are currently skewed bullish, as only 900 new coins mined each day compared with 1,800 in 2017, and institutional participation is increasing. Related: $50K BTC in 2021? Bloomberg Analysts Join the 'Traditional Onslaught' Driving Bitcoin's Rally Notably, assets under management at Grayscale Bitcoin Trust recently breached the $10 billion level, having begun the year at $2 billion. The trust has bought nearly 70% of new bitcoins mined since May 11, when the cryptocurrency underwent its third reward halving. Grayscale is owned by Digital Currency Group, which is also the parent company of CoinDesk. Open interest in the bitcoin futures listed on the Chicago Mercantile Exchange has risen above $1 billion for the first time on record compared with closer to $120 million in 2019, as per data source Skew. Bloomberg analysts said they expect these trends to continue in 2021 because major central banks and governments are unlikely to scale back or halt their inflation-boosting stimulus programs anytime soon. The unconventional policies adopted by authorities to counter the coronavirus-induced slowdown have boosted demand for bitcoin and gold this year. Past data also favors a rally to $50,000, according to Bloomberg. The 2017 advance followed a 2016 supply reduction to 1,800 coins a day, and similar occurred in 2012-13, Bloomberg analysts noted. Related: Market Wrap: Bitcoin Dips Below $19,000 as Ether Options Volume Drops Story continues History looks to be repeating itself. Bitcoins recent move to a new record high of $19,920 has happened roughly seven months following the May 11 reward halving. Similar price action had unfolded following the July 2016 supply reduction. Read more: Why Ethereum and Bitcoin Are Very Different Investments While the odds appear stacked in favor of the bulls, the cryptocurrency remains vulnerable to a March-like panic sell-off in the global equity markets, according to Bloomberg analysts. However, they do not see prices falling below $10,000. The $10,000 mark has shifted to a critical support level after serving as the cryptos resistance mark since 2017, the report says. Bitcoin fell sharply to $3,867 in March as global stock markets collapsed on fears of coronavirus-led recession, boosting demand for cash. Prices quickly recovered to $10,000 ahead of the May 11 reward halving. The top cryptocurrency by market value reached a record high of $19,920 earlier this week, surpassing the previous all-time high of $19,783 reached in December 2017. Prices have more than doubled in the past three months alone. Related Stories Bitcoin Price Could Hit $50K in 2021, Bloomberg Analysts Say Bitcoin Price Could Hit $50K in 2021, Bloomberg Analysts Say || Unfazed By A Plunging Bitcoin, Proponents Dub Pull-Back 'Necessary,' 'Healthy': Bitcoin(BTC) proponents are calling the drubbing the apex cryptocurrency received over the last two days as “necessary” and “healthy.”
No Pain, No Gain:The CEO of Binance, Changpeng Zhao, seemed to take inspiration from the old adage — No Pain, No Gain.
Retrace Opportunities:Barry Silbert, the CEO ofGrayscale Bitcoin Trust(OTC:GBTC) parent the Digital Currency Group revised his retrace level to $30,000 and called it a “buying opportunity of a lifetime” in a tweet.
Weak Hands, Strong Hands:Anthony Pompliano, co-founder of Morgan Creek Digitalsaidon Twitter that “Bitcoin moved from weak hands to strong hands today.” In September, Pomplianoappeared with CNBC host Jim Crameron a podcast, after which the latter purchased $14,000 worth of the cryptocurrency when it was trading at $10,000.
Learn About Hedges: Dallas Mavericks owner Mark Cuban termed cryptocurrency tradeakin to the dot-com bubblein a tweet and said Bitcoin, Ethereum, and few others will emerge as survivors and thrive likeAmazon.com Inc.(NASDAQ:AMZN) andeBay Inc.(NASDAQ:EBAY). Cuban’s advice — “Learn how to hedge.”
HODL On To Your Coins:Celsius CEO Alex Mashinsky says there are more corrections to come and a potential for a plunge to $16,000 levels before the end of the first quarter exists.
“This process will flush the weak hands and transfer the baton with all their BTC from the short-term speculators to the long-term institutions and HODLers,” MashinskytoldCointelegraph.
Hodlers are persons who refrain from selling their coins in Bitcoin parlance.
Measured Gains:Founder ofMicroStrategy Incorporated(NASDAQ:MSTR), Michael Saylor, whose company has purchased over abillion-dollar worth of Bitcoinsin the recent past referenced Bitcoin’s prior gains in a tweet.
Price Action:Bitcoin traded 1.36% lower at $35,143.37. GBTC closed 15.8% lower at $37.40 on Monday.
See Also:Bitcoin Trading Volume, Active Addresses Hit Record High Despite Slump — What That Means
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• Bitcoin Trading Volume, Active Addresses Hit Record High Despite Slump — What That Means
• Why Bill Miller Is Just As Excited About Bitcoin Near All-Time Highs As At K
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Warren Buffett Called Bitcoin 'Rat Poison' — Now It's Closing In On Berkshire Hathaway's Valuation: The rise of bitcoin has been one of the top stories of 2020. What Happened: Bitcoin hit all-time highs throughout December, passing the $27,000 level on Dec. 27. With the rise in the price of the cryptocurrency, bitcoin’s market capitalization has taken it past that of several financial companies. Earlier in 2020, bitcoin passed JPMorgan Chase (NYSE: JPM ) and Mastercard Inc (NASDAQ: MA ). Over the weekend, bitcoin’s market capitalization passed $500 billion and made it more valuable than Visa Inc (NYSE: V ). Related Link: 8 Stocks To Play Bitcoin's Resurgence Why It’s Important: According to AssetDash , bitcoin is now the 11th-most valuable asset by market cap, with a $500-billion valuation. Bitcoin has passed four companies on the list in the month of December. Up next on the list is Berkshire Hathaway (NYSE: BRK- A ) (NYSE: BRK-B ), led by legendary investor Warren Buffett. The Oracle of Omaha has been a vocal bitcoin bear. Buffett once said bitcoin is “probably rat poison squared.” “In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending. If I could buy a five-year put on every one of the cryptocurrencies, I’d be glad to do it but I would never short a dime’s worth,” Buffett told CNBC in 2018. Berkshire Hathaway ranks 10th on the asset list with a market cap of $535.7 billion. With 18,583,275 bitcoins out , the price would need to be $28,827 to pass the value of Berkshire Hathaway. With additional bitcoins mined and the cryptocurrency's continued rise, it could occur very soon. Apple Inc (NASDAQ: AAPL ) tops the AssetDash list with a market cap of $2.3 trillion. Alibaba Group (NYSE: BABA ) ranks eighth with a cap of $602 million, and has fallen three spots in the month of December. Price Action: Bitcoin was trading at $26,714.06 at last check Monday. The Grayscale Bitcoin Trust (OTC: GBTC ) ended Monday's session up 11.33% at $30.45 and is over 200% higher in 2020. Story continues See more from Benzinga Click here for options trades from Benzinga Ideanomics Shares Rally On Ride-Hailing EV Purchase: What Investors Should Know Buffett: Small Businesses Have Become Collateral Damage, Congress Should Renew PPP © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Coinbase to Support Spark Token Airdrop to XRP Holders: Coinbase announced Saturday it plans to support an upcoming airdrop that has been seen as a factor in boosting XRP’s price in recent weeks. The San Francisco-based exchange said in a blog post that Coinbase customers with XRP balances as of midnight UTC on Dec. 12, 2020, will receive Spark tokens from Coinbase at a later date. “The amount of Spark you’ll receive depends on how much XRP you had in your account at the snapshot time,” Coinbase wrote. Details about the airdrop will be posted this week, a company spokesperson told CoinDesk. Related: Market Wrap: Bitcoin Dips Below $19,000 as Ether Options Volume Drops Spark is the native token of the Flare Network , a system meant to bring Ethereum-like functionality to the XRP Ledger. “Flare’s token, Spark is created through what may be the first-ever utility fork whereby the origin network, in this case the XRP Ledger, benefits through increased utility,” the team behind the smart-contract project wrote in August . XRP is up nearly 10% over the last 24 hours as of press time, according to CoinDesk data . “Supporting new networks and their projects is important for not only meeting customer interest, but also the continued growth of the crypto ecosystem,” said Coinbase spokesperson Crystal Yang. Related Stories Coinbase to Support Spark Token Airdrop to XRP Holders Coinbase to Support Spark Token Airdrop to XRP Holders Coinbase to Support Spark Token Airdrop to XRP Holders
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 37316.36, 39187.33, 36825.37, 36178.14, 35791.28, 36630.07, 36069.80, 35547.75, 30825.70, 33005.76
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2018-05-31]
BTC Price: 7494.17, BTC RSI: 38.75
Gold Price: 1300.10, Gold RSI: 44.92
Oil Price: 67.04, Oil RSI: 40.95
[Random Sample of News (last 60 days)]
Why iQiyi Is (and Isn't) Netflix: Chinese streaming giant iQiyi Inc. (NASDAQ: IQ) was recently spun off from China's search leader Baidu Inc. (NASDAQ: BIDU) , raising an estimated $2.25 billion in the process. Investors love a good comparison, and in that vein have taken to calling the streaming service "the Netflix (NASDAQ: NFLX) of China." While it's true that both companies provide streaming video to consumers, there are some significant differences between their business models. Let's look at the ways in which iQiyi is different from Netflix, and how they are similar. A man laying on a couch watching streaming video on a tablet. iQiyi streams video, but is it really "the Netflix of China"? Image source: Getty Images. The biggest difference Netflix began as a DVD-by-mail service in the U.S., but added streaming just over a decade ago, and it has become the company's primary business. Netflix has never used advertising on its streaming platform. iQiyi began as an ad-supported video-on-demand service. In mid-2015, iQiyi added a paywall for a variety of its new releases, giving its subscriber growth a strong boost. iQiyi's subscribers quadrupled over the next year. Even in light of the popularity of its subscription service, the vast majority still use the ad-supported model. The biggest differentiator between the two models is the use of commercials. Show me the money More than 97% of Netflix's revenue comes from streaming, while the remainder comes from subscriptions to its DVD-by-mail service and licensing of its intellectual property (IP). iQiyi generates revenue from a combination of advertising, subscription revenue, and content distribution. During 2017, the majority of its sales -- nearly 47% -- came from advertising, while 37% was subscription revenue, and the remainder came from content distribution and other sources. Where their viewers live Netflix has nearly 57 million subscribers in its home market, but that's just the beginning. The company also boasts another 68 million customers in international markets, for a running total of 125 million subscribers worldwide. Story continues After perfecting its model in the U.S., Netflix began its international expansion in late 2010, crossing into Canada. It added Latin America in mid-2011, and numerous other countries before adding 130 new countries in early 2016 -- bringing its services to 190 countries worldwide. iQiyi operates only in China, though it has achieved similarly remarkable scale in its home market. An estimated 845 million customers access the platform each month, though the vast majority of viewers use the free, ad-supported model. The company boasts 421 million monthly active users on mobile devices, as well as 424 million on personal computers. Of those, iQiyi reported nearly 51 million paying subscribers in documents it filed with the SEC prior to its initial public offering. iQIYI landing page, showing the cast of Blade Attack: Yang Shuo. iQiyi is investing heavily in content, like its U.S. counterpart. Image source: iQiyi. There's more While Netflix has focused almost exclusively on content thus far, iQiyi provides its users with a growing ecosystem of interrelated products and services. In addition to streaming video, customers have access to online games, graphic novels, and merchandise based on the company's IP. Netflix has cautiously waded into licensing its IP, with a line of Stranger Things products in stores just in time for last year's holiday season. Comcast 's Universal Studios recently announced that it would be bringing Stranger Things to life as part of its Halloween Horror Nights attraction at its theme parks. This revelation marks Netflix's first major foray into licensing, though I think it's just the beginning. Then there's this ... When reporting its fourth-quarter and full-year results for 2017, Netflix revealed that its international segment had achieved its "first full year of positive contribution profit in our history," ending the year with both its international and domestic operations profitable. The company generated $560 million in net income for 2017. iQiyi isn't yet profitable, generating a loss of $574 million in 2017, a 22% greater loss than in 2016. The company has stated that over the short term, the cost of revenue would continue to outpace revenue growth as it worked to improve its streaming technology and invest in additional content. It is, but it isn't There are a lot of similarities between the two streaming companies, but many differences as well. iQiyi may be a closer match to Hulu than to Netflix, due to its hybrid-freemium and subscription model. It's important to understand the differences in the business models of the two companies, as well as the markets they serve, before deciding to invest. 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 Danny Vena owns shares of Baidu and Netflix. The Motley Fool owns shares of and recommends Baidu and Netflix. The Motley Fool recommends Comcast. The Motley Fool has a disclosure policy . || Ethereum shows signs of strength during the week after initially drifting lower: ETH/USD Ethereum markets initially fell during the week, but then found enough support near the 625 level to turn things around and reach towards the 800 level. There is a cluster of noise just above, but I think if we can break above the 900 level, we will inevitably takeover the 1000 level. Short-term pullbacks could offer value for people to get involved, and I think that we will eventually see this market go higher. However, this is a week to week situation, and of course we will pay attention to the next candle. I anticipate the pullbacks are value that will be picked up though. Get Into Ethereum Trading Today ETH/EUR Ethereum also initially fell against the Euro during the week but found enough support near the 500 level to rally significantly and reached towards the 700 level. This is an area that is very resistive just above, but I think if we can break above the 800 level, the market could go to the 1000 level. I think short-term pullbacks will be buying opportunities down to the 500 level, and I believe that until we break down below the 500 level, you should probably agree with the buyers. A break above 800 opens the door to at least 1000, but I think at that point we would probably go looking towards fresh, new highs again. Ethereum has been one of the stronger crypto currencies in the world lately, and I think it is going to lead the way for other markets. Buy & Sell Ethereum Instantly ETH/USD Video 07.05.18 This article was originally posted on FX Empire More From FXEMPIRE: Gold markets fall during the week, but find support at vital level Bitcoin finds support late during the week Silver falls during the week only to find buyers Crude Oil find strength again during the week USD/CAD Fundamental Analysis week of May 7, 2018 Alt Coins have mixed week || What to Watch When NVIDIA Reports Q1 Earnings: Tech darling NVIDIA Corporation (NASDAQ: NVDA) should be reporting its fiscal first-quarter 2019 earnings in a couple of weeks, most likely during the week of May 7. No exact date is set yet. The graphics processing unit (GPU) specialist has a lot of momentum, with investor expectations surely high. It's coming off another great year, with revenue and adjusted earnings per share (EPS) soaring 41% and 88%, respectively, in fiscal 2018. And a few weeks ago, it held its GPU Technology Conference (GTC) 2018, where it announced some exciting new products and partnerships . NVIDIA stock has returned 139% over the one-year period through April 18, crushing the S&P 500 's 17.6%. Shares, which closed at $236.40 on April 18, are nearly 6% off their all-time closing high of $250.48 reached on March 16. A digital human brain surrounded by many small images of people using their brain to do various things -- concept for artificial intelligence. Image source: Getty Images. The headline numbers Here are the year-ago period's results and Wall Street's estimates, as of this writing, to use as benchmarks: Revenue $1.94 billion $2.89 billion 49% Adjusted earnings per share (EPS) $0.79 $1.45 84% Data sources: NVIDIA and Yahoo! Finance. YOY = year over year. Analysts are projecting torrid growth, though the adjusted EPS growth estimate doesn't represent an apples-to-apples comparison as NVIDIA is expected to get a boost from the recent U.S. tax reform. Investors can probably bank on another earnings beat. NVIDIA has been consistently sprinting by Wall Street's expectations, and there's no reason to believe this dynamic won't continue. Gaming: Look for esports and high-quality games to remain growth drivers Investors should be able to count on more strong growth from gaming, the largest of NVIDIA's four target market platforms. (In order of revenue, data center, professional visualization, and automotive are the three others.) Last quarter and in fiscal 2018, gaming's revenue jumped 29% and 36% year over year to $1.74 billion and $5.51 billion, respectively. To put its size in perspective, this business accounted for nearly 57% of the company's total revenue of $9.71 billion last fiscal year. Story continues The gaming platform is benefiting from both an expansion in the number of gamers as well as existing gamers increasingly buying higher-end GeForce graphics cards. Key growth drivers behind both dynamics have been esports and higher-quality computer games being released. Last year, the meteoric rise in cryptocurrency prices also provided a boost, as some folks have been buying NVIDIA's GeForce cards for "mining" certain digital currencies, particularly Ethereum, rather than buying the company's application-special boards for mining. The plunge in crypto prices this year means demand for NVIDIA's GPUs for mining should cool off. Data center: Expect continued robust AI-driven Volta growth A chip in a circuit board with "AI" written on it. Image source: Getty Images. Investors should expect continued robust growth from data center, NVIDIA's second-largest market platform by revenue, and its fastest growing. Last quarter and in fiscal 2018, this platform's revenue soared 105% and 133% year over year to $606 million and $1.93 billion, respectively. This business accounted for nearly 21% of NVIDIA's total revenue last quarter. Data center's torrid growth is being driven by the strong adoption of NVIDIA's Tesla V100 GPUs based on its Volta architecture, which began shipping in the second quarter of last year and continued to ramp up in the third and fourth quarters. Every major server maker and cloud-service provider have adopted the V100 to deliver artificial intelligence (AI) and high-performance computing. NVIDIA's GPUs are the platform of choice for training deep-learning networks. (Deep learning is a category of AI that trains a machine to make inferences from data like humans do.) The company has also begun to gain traction in the deep-learning inference market. (Inferencing involves a machine applying what it's learned in training to new data.) Data center is also benefiting from robust growth in high-performance computing (HPC). Automotive: Be patient, as the groundwork is being laid for superior growth Last quarter and in fiscal 2018, the automotive platform's revenue increased 3% and 15% year over year, respectively. While this business is small -- it accounted for just 5.7% of NVIDIA's total revenue last year -- the company has been laying the groundwork for potentially massive growth once driverless vehicles become legal across the land, which CEO Jensen Huang and other industry players believe could occur as early as 2021. Huang said at the GTC that more than 370 automakers, truck manufacturers, top-tier parts suppliers, tech companies, and others are now developing with NVIDIA's AI-powered autonomous vehicle platform, DRIVE PX. 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 Beth McKenna owns shares of Nvidia. The Motley Fool owns shares of and recommends Nvidia. The Motley Fool has a disclosure policy . || Bitcoin Looking to Break Free from the Bear: Bitcoin finally managed to find some much needed support on Thursday, with Bitcoin gaining 1.08% to end the day at $7,576.1, partially reversing Wednesday’s 5.94% slide.
A positive start to the day saw Bitcoin move through to a morning high $7,729.8, falling short of the day’s first major resistance level at $7,881.3, before reversing to an intraday low and new swing lo $7,260 in the late morning, Bitcoin finding much needed support at the day’s first major support level at $7,264.
Bitcoin’s mid-day rally, off the back of the day’s low, saw Bitcoin recover to $7,500 levels by the day’s end, with the moves through the day leaving the day’s first major resistance level at $7,881.3 untested and some distance yet to travel to bring the 23.6% FIB Retracement Level of $7,906.4 into play.
Negative news through the early hours was the ultimate cause to the price reversal to the day’s low, with reports of the U.S Justice Department investigating price manipulation in the cryptomarket doing the damage, recent cryptomarket news having done little to restore investor appetite ahead of an expected flurry of regulator activity this summer.
For the Bitcoin bulls and the broader, the afternoon recovery was good news, but with regulators and governments now looking more closely at the market and practices, more bad news is likely to be on the horizon.
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At the time of writing, Bitcoin was up 0.62% to $7,624.0, with moves through the day relatively range bound, a morning $7,516.6 low and $7,654.1 high steering clear of the day’s first major support level at $7,314.13 and first major resistance level at $7,783.93.
With Bitcoin’s new swing lo $7,260 struck on Thursday and the afternoon recovery, which came in spite of concerns of investigations into possible price manipulation practices across the cryptomarket, the floor in the current bearish trend may have currently been struck, though sentiment is expected to deteriorate as governments and regulators roll out measures to increase oversight and control over the market.
For the day ahead, a break through the day’s first major resistance level at $7,783.93 would be needed to bring the 23.6% FIB Retracement Level of $7,906.4 and $8,000 levels into play, a move needed to affirm a near-term bottoming out of the bearish trend.
Failure to move through to $7,700 levels could weigh on Bitcoin later in the day, with a lack of upward momentum likely to see Bitcoin pullback to the morning’s low $7,516.6 and bring the day’s first major support level at $7,314.13 into play.
We would expect support to hold Bitcoin off from striking a new swing lo, barring materially bad news hitting the wires through the day.
Elsewhere in the cryptomarket, Stellar’s Lumen was on the move, up 2.02% at the time of writing, with Ethereum up 1.72%, while NEM’s XEM, Cardano’s ADA and Bitcoin Cash lingered in the red to buck the broader market trend.
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Thisarticlewas originally posted on FX Empire
• Commodities Daily Forecast – May 25, 2018
• Bitcoin markets continue to show a bit of weakness on Thursday
• German index falls as most stock markets do during the day
• Dow Jones 30 and NASDAQ 100 both fall on talks cancellation
• Bitcoin and Ethereum Price Forecast – BTC Prices Still Weak
• EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – May 25, 2018 || Warren Buffett on target date funds: Planning for retirement can be complicated and stressful. This is why target date funds — funds that are managed based on when you expect to retire — are so attractive. Over time, the balance of stocks, bonds and cash evolve automatically as retirement nears. Set it and forget it. But is investing really that easy? Yahoo Finance reader Greg Woodruff from Bakersfield, California asked Warren Buffett, the CEO Berkshire Hathaway ( BRK-A , BRK-B ), if target date funds are really adding value. “No, probably not,” Buffett said during a wide-ranging interview with Yahoo Finance’s Andy Serwer. “The S&P 500 Index Fund is the one to use. That’s the one I used in that bet I made for ten years. It’s the one I’ve told the trustee for my wife to put 90% of the funds I leave her in to.” One of the pitfalls of target-date funds is the fees. Buffett, who has argued that investors — both small and large — would be better off putting money in low-cost index funds, wrote in his 2005 shareholder letter that active management professionals (mutual funds, hedge funds, etc), as a group, would underperform the returns achieved “by rank amateurs who simply sat still.” His thought was that the active managers who collect massive fees would leave their clients “worse off” than the amateurs who simply invested in unmanaged low-cost index funds. At that time, Buffett offered to wager $500,000 (for charity) that no investment professional could select a set of at least five hedge fund that would match the performance of an unmanaged S&P 500 index fund. The bet was to last ten years and Buffett picked a low-cost Vanguard S&P fund as his contender. Ten years later, Buffett sealed his victory with his S&P fund pick delivering an average annual return of 8.5% compared to the fund-of-funds’ 2.4% average annual gain. Berkshire Hathaway CEO Warren Buffett waits to play table tennis during the Berkshire Hathaway annual meeting weekend in Omaha, Nebraska, U.S. May 7, 2017. REUTERS/Rick Wilking According to Buffett, investing in the S&P 500 is like “buying America,” which he has long remained bullish on. At age 11, during the first quarter of 1942, Buffett purchased three shares of Cities Service. The stock fell from $38.25 to $27. When the stock climbed back up to $45 per share Buffett sold his position. Eventually, the stock soared to $202 per share. Story continues “If I put that $114 into the S&P 500 at that time and reinvested the dividends, I think of a figure as to what it might be would be worth today.” Buffett estimates that it would be worth $400,000 today . Of course, everyone’s ability to take risk will vary on a case by case basis. But Buffett’s message is clear: if you’ve got the time, go with the S&P 500. Watch Warren Buffett LIVE at the 2018 Berkshire Hathaway Annual Shareholders Meeting exclusively on the Yahoo Finance app and desktop. Coverage begins May 5 at 9:45am ET. Set a reminder now! Berkshire Hathaway’s annual meeting will be held on May 5. — Julia La Roche is a finance reporter at Yahoo Finance. Follow her on Twitter . Buffett: I made a mistake not buying JPMorgan’s stock Buffett’s bet against the hedge funds had an unforeseen investment lesson Munger: Bitcoin is ‘poison’ and the government needs to step on it hard Munger: You won’t get the returns Buffett and I got by doing what we did Buffett: Women make me ‘very optimistic’ about this country || Fiat Chrysler's Bold Bet on SUVs Seems to Be Paying Off: Fiat Chrysler Automobiles ' (NYSE: FCAU) bold bet on SUVs might be starting to pay off: The Italian-American automaker said that its U.S. sales rose 14% -- reversing an 18-month streak of declines -- thanks to huge demand for Jeeps. Much of that demand came from retail buyers. An 11% retail sales gain was enough to push Fiat Chrysler Automobiles (FCA) past Ford Motor Company 's (NYSE: F) retail sales total for only the second time since 2010. Ford's U.S. sales rose 3.4% in March ; Detroit rival General Motors ' (NYSE: GM) rose 15.7%. Year to date, FCA's sales in the U.S. are up 0.8% through March. A red 2018 Jeep Wrangler Rubicon on a rocky wilderness trail. Big demand for the all-new 2018 Jeep Wrangler helped the iconic SUV brand to a huge sales gain in March. Image source: Fiat Chrysler Automobiles. High and low points from FCA's March sales results The high points have to start with FCA's powerhouse Jeep SUV brand, which had a tremendous month led by its all-new Wrangler and revamped Cherokee. Jeep sales rose 45% to 98,382 vehicles, its best monthly result ever. Sales of Jeep's iconic Wrangler rose 70% to 27,829 vehicles, its best result ever. Sales of the Jeep Cherokee rose 63% to 23,764. That wasn't quite its best result ever, but it's a high number. It appears that the Cherokee's new assembly line is now running at full speed. Sales of the stylish Chrysler Pacifica minivan rose 40% to 13,086. In what must be a sign of spring, sales of the Dodge Challenger muscle coupe rose 31% to 8,150. Alfa Romeo sold 2,576 vehicles, with the new Stelvio SUV nearly equaling the Giulia sedan's total sales. The low points: Sales of the Ram full-size pickup line fell 11% to 41,307. Although it's never good to see a decline when Ford and GM post gains, it's not quite as bad as it looks: FCA's all-new 2019 Ram just began shipping in the second half of March. Both of FCA's Ram ProMaster commercial-van models posted double-digit sales declines. Sales of the well-regarded three-row Dodge Durango crossover SUV fell 10%, and sales of its Jeep Grand Cherokee sibling declined 4%. The Grand Cherokee was the only Jeep model to post a sales decline in March. Fiat sales fell 47% to just 1,544 vehicles. The Italian brand's quirky novelty appears to have faded for U.S. buyers. Story continues A yellow 2018 Dodge Challenger SRT Hellcat Widebody is shown powersliding around a racetrack with a cloud of tire smoke behind. It must be spring: Dodge Challenger sales rose 31% in March. Image source: Fiat Chrysler Automobiles. The upshot: Marchionne's plan is working, for now CEO Sergio Marchionne was ahead of the industry in making a bold bet on SUV sales when he announced in early 2016 that the company would discontinue production of its two mass-market sedans, the Dodge Dart and Chrysler 200. Its only remaining car models are niche products with (in theory, at least) above-average profit potential: the little Fiat 500, the brawny Dodge Charger and Challenger, and the Charger's upscale Chrysler 300 sibling. Marchionne's decision to abandon the mainstream sedan market set off an elaborate assembly plant shuffle . Production of the Ram 1500 and Jeep Cherokee moved to the sedans' former factories, and the trucks' former homes began undergoing renovation to build all-new models -- more trucks and SUVs. That plan is still unfolding, but now that Cherokee is up and running in the Dart's former home in Belvidere, Illinois, and all-new Ram 1500s are beginning to ship from the 200's former factory in Sterling Heights, Michigan, we're starting to see the results: big sales gains that should drive big profit gains as the year goes on. FCA still appears to be well behind on the key technologies that most analysts expected to drive the future of autos. But it appears exceptionally well positioned in the market that exists in the here and now. Assuming that the U.S. market remains strong, FCA's strength in SUVs and trucks should drive outsized profit gains for at least the next couple of years, if not longer. How FCA's U.S. sales compared to rivals Below you'll find March sales totals for the six largest-selling automakers in the U.S. market. All but Nissan had sales gains to report. Note that these totals include both retail and fleet sales. Automaker March 2018 sales Change vs. March 2017 General Motors 296,341 15.7% Ford 244,306 3.4% Toyota 222,782 3.5% Fiat Chrysler Automobiles 216,083 14% Nissan 162,535 (3.7%) Honda 142,392 3.8% Data sources: The automakers. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Rosevear owns shares of Ford and General Motors. The Motley Fool recommends Ford. The Motley Fool has a disclosure policy . || A crypto miner trolls Warren Buffett with bitcoin billboards outside his office (BRKB): warren buffett Bill Pugliano/Stringer/Getty Images The founder of a crypto-mining company says he installed billboards trolling Warren Buffett. Buffett compared bitcoin to rat poison earlier this month. Follow the price of bitcoin in real time here . A cryptocurrency -mining company says it's trolling the billionaire investor Warren Buffett with billboards near his Omaha office. Marco Krohn, the cofounder of Genesis Mining , on Wednesday tweeted photos of the signs, which refer to Buffett's recent admission that he was wrong about not investing in the mega-cap tech giants Amazon and Google in their early days. "Maybe you're wrong about bitcoin?" the signs say. Buffett billboard bitcoin crypto Marco Krohn via Twitter At the Berkshire Hathaway annual shareholder meeting earlier this month, Buffett said bitcoin was " probably rat poison squared " and urged his fellow investors to avoid the "nonproductive" asset. The prices of bitcoin and most other major cryptocurrencies have fallen dramatically this year — a steep departure from last year when they seemed to only move upward at a jaw-dropping pace. Bitcoin has declined by 40% since the start of 2018. Genesis Mining runs a massive crypto-mining operation in Iceland. You can see photos of its gargantuan data center here . NOW WATCH: NBA ref explains why the James Harden step-back jumper isn't traveling See Also: The best photo from every single year of Prince Harry's remarkable life 50 must-have tech accessories under $50 The 18 best perks you get with an Amazon Prime membership SEE ALSO: WARREN BUFFETT: Bitcoin is 'probably rat poison squared' || Verizon's Wireless Business Stabilizes in First Quarter: Verizon Communications(NYSE: VZ)reported first-quarter earnings on April 24, and the telecom giant's important wireless segment continued to stabilize. Remember that a year ago, Verizon reported itsfirst-ever loss of postpaid wireless subscribers.
Big Red has been aggressively expanding into media assets in recent years and is now exploring over-the-top (OTT) options to mitigate cord-cutting. Verizon is not actively considering any new giant media deals, while rivalAT&Tcontinues to fight with the U.S. Department of Justice over its proposed acquisition ofTime Warner.
[{"Metric": "Total operating revenue", "Q1 2018": "$31.8 billion", "Q1 2017": "$29.8 billion", "Year-Over-Year Change": "6.6%"}, {"Metric": "Adjusted earnings per share", "Q1 2018": "$1.17", "Q1 2017": "$0.95", "Year-Over-Year Change": "23%"}, {"Metric": "Total retail wireless connections", "Q1 2018": "116.2 million", "Q1 2017": "113.9 million", "Year-Over-Year Change": "2%"}, {"Metric": "Retail churn", "Q1 2018": "1.28%", "Q1 2017": "1.39%", "Year-Over-Year Change": "(11 basis points)"}, {"Metric": "Retail postpaid average revenue per account (ARPA)", "Q1 2018": "$131.71", "Q1 2017": "$136.98", "Year-Over-Year Change": "(3.8%)"}, {"Metric": "Fios video subscribers", "Q1 2018": "4.6 million", "Q1 2017": "4.7 million", "Year-Over-Year Change": "(1.8%)"}]
Data source: Verizon.
Verizon finished the first quarter with 116.2 million retail wireless connections, maintaining its title as the largest domestic carrier. While that total increased year over year, Verizon still lost valuable phone customers. Verizon reported net adds of 260,000 retail postpaid connections, but that includes losing 24,000 phone connections and 75,000 tablet connections. Those subscriber losses were offset by adding 359,000 connected devices, which were mostly wearables. Cell plans for wearable devices do not generate nearly as much revenue as smartphone plans do.
Image source: Getty Images.
Additionally, here are some other details from the first quarter:
• Approximately 81% of the postpaid phone base are now on unsubsidized service plans, up from 72% a year ago.
• Retail postpaid churn improved to 1.04%, compared to 1.15% a year ago.
• There were net adds of 66,000 Fios internet connections, while Verizon lost 22,000 Fios video connections due to cord-cutting.
• Subsidiary Oath, which represents Verizon's media business, saw revenue (excluding the impact of recent changes to revenue recognition standards) decline 13% to $1.9 billion, due to seasonal factors in the display advertising market.
• The deployment of 5G is progressing according to schedule, with the launch of commercial service still expected this year.
• Capital expenditures were $2.4 billion.
On theconference call, CFO Matt Ellis said Verizon is considering an OTT video service, but doesn't want to simply launch a copycat product: "We continue to look at OTT options, and as we've said previously, we're not looking to launch a 'me, too' product, but certainly expect to have an overall product offering to consumers in those three to five markets that will be compelling and meet their needs."
The Unlimited plans that were unveiled a year ago are helping to reduce churn. Ellis added, "Our Unlimited offerings continue to provide a compelling value and overall customer experience that has led to postpaid phone churn of 0.80% for the quarter. This represents the fourth consecutive quarter of customer retention at 0.80% or better."
Instead of pursuing any more traditional media assets, Verizon is more focused on distributing digital content. Ellis said:
At this point in time, as we look at the ecosystem, we're very comfortable with the approach of making sure we have distribution rights to digital content. You saw that with the NFL deal, the NBA deal, and I would expect to see us continue to add to that portfolio of digital rights to distribute across various Yahoo platforms, Oath platforms, as we go forward. So, look, the content space is evolving rapidly, and we think the best approach for us at this point in time is to be that independent distributor of rights out there, and we're very comfortable that we'll be very effective doing that.
Verizon's guidance for 2018 is largely unchanged fromlast quarter. The company still expects full-year revenue growth in the "low single-digit percentage rates" on aGAAPbasis, and expects service revenue growth to turn positive by the end of the year. Adjusted EPS should be up in the low single-digit percentages as well. Capital expenditures are still forecast at $17 billion to $17.8 billion, which includes the costs associated with the commercial launch of 5G.
The company's effective tax rate for 2018 is expected to be in the range of 24% to 26% following tax reform.
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Evan Niu, CFAhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Verizon Communications. The Motley Fool recommends TWX. The Motley Fool has adisclosure policy. || 3 Reasons You're Broke: Around half of all Americans couldn't fund a $400 emergency, most Americans havefar too little saved for retirement, and as many as 65% of Americans have reported losing sleep over money woes, according toCreditCards.com.
Long story short, many Americans struggle with money. And, while there are absolutely situations where uncontrollable factors cause money worries -- like health issues -- there are also many circumstances where financial mistakes are the root of the problem.
In fact, here are three reasons Americans end up in over their heads and coping with money troubles.
Image source: Getty Images.
Close to 40% of U.S. households carry at least some credit-card debt, and the average debt for households that carry a balance is $16,048.
With a five-figure debt balance, monthly payments are high, and you'll pay a fortune in interest.
Let's say you owed $16,048 at 15% interest with a minimum payment equal to interest plus 1% of the balance. Your minimum payment would start at around $361 monthly. And, if you paid only the minimum, you'd pay $19,539 in interest, and it would take you 382 months -- 31 years -- to become debt free.
If you were instead able to invest $361 per month in a 401(k) over 31 years and earn a 7% return, you'd have almost $477,000.
When you carry a credit card balance, every purchase costs more because of interest. Don't make your everyday purchases more expensive. Instead, buy only things you can afford to pay for when your credit card bill comes due.Living on a budgetand saving for big purchases makes that possible.
If you're already in debt, get serious about getting out. Consider a consolidation loan to reduce your interest rate so repayment becomes more affordable. And, make extra payments by reducing spending or taking on a side hustle. If you pay $800 monthly instead of the minimum, a $16,048 balance could be paid off in just two years, and you'd save almost $17,000 in interest.
At the end of 2017, the average new car loan hit a new record of $31,099, and the average loan for a used car hit a new record of $19,589.
Americans are taking longer loans, buying costlier vehicles, and making higher monthly payments than at any time in history. In fact, the average monthly payment for a new car reached a record $515, and the average monthly payment for a used car hit a new high of $371 in 2017, according to data from Experian.
If you're paying $515 monthly for a car that loses value every day, that's $6,180 per year you can't use to max out an IRA or put money into an emergency fund. And,most people have a car loan for all but around six years of their working life, because they get new vehicles shortly after their loans are repaid.
Instead of always paying interest on a depreciating asset, buy the lowest-priced used car you can safely drive, drive it for as long as possible, and finance it for the shortest term possible.
Keep making "car payments" once your loan is paid off, and pay for your next car in cash. Then, rinse, and repeat -- drive your paid-for car into the ground, and save payments for your next vehicle. You'll have enough for a new car long before it's time to stop driving your old one, and can put the rest of the "payments" into retirement savings or toward accomplishing other financial goals.
Alternatively, if you live somewhere walkable, get rid of the car altogether and use a rideshare service or a rental when you need a vehicle. Or, if you're a two-car household, see if you can work out a way to share just one vehicle. You'll save on car payments, maintenance, gas, and insurance.
If your housing costs you more than 30% of your income, you're paying too much for housing, and accomplishing other financial goals will be really hard.
This 30% threshold has long been the standard, but unfortunately, around one-third of households are exceeding it.
If you live in a high cost of living area, staying below the 30% limit can be really difficult. You may need to resort to creative approaches, such as getting a roommate or listing your home on Airbnb. Don't rule out moving as an option, especially if your employer is open to a telecommuting arrangement, as there are plenty ofaffordable localesthat are great places to live.
If you don't live in an expensive area, housing costs still may be too high if you've opted for a big house or luxury apartment. Under these circumstances, ask yourself if your costly abode is really worth the financial struggle. And don't forget: Bigger and costlier housing comes with costs beyond just the mortgage, including higher property taxes and maintenance expenditures.
These costs typically can't be justified by viewing your house as an investment, either, since the stock market historically outperforms real estate. So, explore whether it's possible to find a cheaper living arrangement.
If you don't want to move, consider whether a side hustle could bring your income up enough that you can meet the 30% threshold. Otherwise, more careful budgeting and sacrifices in other areas of life -- such as eating out less andspending lesson entertainment -- might be necessary to afford your expensive house.
If you have a lot of credit card debt, high monthly car payments, and an expensive house, dealing with these money drains may seem like it will require huge lifestyle changes.
The reality is, a cheaper car will still get you where you need to go, sacrificing for a short time to pay off debt will allow you to enjoy life more later on, and cutting housing costs means you'll have fewer money worries, so you'll sleep more soundly under a smaller roof.
It's just a matter of deciding what you want your money to do and living the lifestyle that gives you the freedom to become financially secure.
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The Motley Fool has adisclosure policy. || Crude Oil Price Update – Breakout Over $69.97 or Closing Price Reversal Top?: Crude oil futures rallied to a new multi-year high last week as speculators continued to bet the U.S. will walk away from the Iran nuclear deal when the deadline for the decision hits on May 12. Gains could be limited, however, by concerns over rising U.S. production, which should continue to rise along with the U.S. rig count.
Last week,June West Texas Intermediate crude oilsettled at $69.72, up $1.62 or +2.38%.
The main trend is up according to the weekly swing chart. The trend isn’t close to turning down, but the market is in the window of time for a potentially bearish closing price reversal top, or higher-high, lower-close. This chart pattern, however, will take the entire week to form.
A trade through $69.97 will signal a resumption of the uptrend. If this move creates enough upside momentum, we could see a spike into the major 50% level at $72.86.
The first sign of weakness will be a move through $69.97 then a break back under last week’s close at $69.72.
On the downside, the nearest support is a pair of 50% levels at $63.63 and $62.84.
Based on last week’s close at $69.72, the direction of the crude oil market will be determined by trader reaction to $69.97.
Taking out $69.97 will signal the presence of buyers. If this move generates enough upside momentum then look for a possible surge into $72.86.
Taking out $69.97 then turning lower for the week will put the market in a position to form a potentially bearish closing price reversal top.
The inability to take out $69.97 will indicate the presence of buyers and that they are defending last week’s high. This is likely to occur if investors start to doubt the U.S. will leave the Iran nuclear deal.
Thisarticlewas originally posted on FX Empire
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$BTC $ETH $BCH $MIOTA $LTC $XRP $DASH $BTG $XMR $NEM || New episode from "The Bitcoin Podcast Network": Buy or Sell, What the Hell #21: Working the Bear Market https://www.listennotes.com/e/7659bfd0e55c48dd9f9b6ab6b131b9a5/buy-or-sell-what-the-hell-21-working-the-bear-market/ … || "Information security is the practice of defending information fro http://bit.ly/2jtEVNz #Cybersecurity #Bitcoin pic.twitter.com/G9B8f1VTMK
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Trend: down || Prices: 7541.45, 7643.45, 7720.25, 7514.47, 7633.76, 7653.98, 7678.24, 7624.92, 7531.98, 6786.02
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2018-10-29]
BTC Price: 6332.63, BTC RSI: 38.00
Gold Price: 1224.50, Gold RSI: 56.00
Oil Price: 67.04, Oil RSI: 36.41
[Random Sample of News (last 60 days)]
What is bitcoin, how does it work and what affects its price?: Bitcoin - Bloomberg News Few technologies have the ability to stir passionate online debate and baffle the vast majority of the population as bitcoin . The virtual currency rocketed in value last year before crashing at the start of 2018. But bitcoin appears here to stay, at least for the time being. Although the price has fallen since the start of the year to around $6,400 (£4,900), well below its peak of $20,000, it is still above its price a year ago and interest in it continues. There have been spikes along the way, possibly caused by mass computer trading or short sellers jumping ship and encouraging buyers to flood back in. It all leaves investors with a slew of questions. Is Bitcoin the future of currency ? Is it currency at all? What is it for? And should I buy some? Read on to have your questions answered. What is Bitcoin? Bitcoin is a digital currency created in 2009 that uses decentralised technology for secure payments and storing money that doesn't require banks or people's names. It was announced on an email circular as a way to liberate money in a similar way to how the internet made information free. How does it work? Bitcoin works on a public ledger called a blockchain, which holds a decentralised record of all transactions that is updated and held by all users of the network. To create bitcoins, users must generate blocks on the network. Each block is created cryptographically by harnessing users' computer power and is then added to the blockchain, letting users earn by keeping the network running. A limit for how many bitcoins can be created is built into the system so the value can't be diluted. The maximum amount is just under 21 million bitcoin. There are currently just over 17 million in circulation, each of which was worth around $6,400 (£4,900) at the time of writing. That puts its total value at around $108.8 billion. While at first ordinary people could mine thousands of bitcoins , potentially now worth millions of pounds, bitcoin mining now requires a huge amount of computer power to achieve. You can read our guide to bitcoin mining here . Story continues What affects its price? The price of a Bitcoin has jumped up and down since it first entered the mainstream consciousness in 2013. That year prices rose by almost 10,000 per cent before the collapse of Mt Gox, the biggest online bitcoin exchange at the time, sent it crashing. Prices slowly crept up after that but surged again in 2017. This is largely put down to regulators appearing to warm to bitcoin and the rise of initial coin offerings - a way for projects to raise money by selling cryptographic tokens similar to bitcoins. Sceptics believed we were in the middle of a Bitcoin bubble while advocates say we are just beginning to see the rise starting. Prices have fallen in 2018 amid fears of a regulatory crackdown. Who is Satoshi Nakamoto? Satoshi Nakamoto is the mysterious creator of Bitcoin and blockchain. Despite countless attempts to unmask the person or people behind the name, their identity has remained elusive. There have been numerous unsuccessful attempts by journalists to reveal the Bitcoin founder. In a high-profile incident in 2014, Newsweek magazine relaunched with a feature outing Dorian Nakamoto, a 64-year-old Japanese-American man, as the creator. The affair, having fallen apart under scrutiny, ended with a car chase and the real Nakamoto refuting the allegations. Australian computer scientist Craig Wright previously claimed he was Satoshi Nakamoto Credit: PA The most recent candidate was Craig Wright, a former Australian academic, who claimed to be the bitcoin inventor. Wright wrote blog posts and gave interviews to Wired, BBC and the Economist in 2015 and 2016 saying he was behind bitcoin. After failing to provide unquestionable proof, Wright posted an apology message that said: "I believed that I could put the years of anonymity and hiding behind me. 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." How many people use bitcoin? One of the largest Bitcoin storage platforms, Blockchain.info, claims it has more than 25 million cryptocurrency wallet holders. This has almost doubled from 10 million at the start of 2017. What is it used for? Bitcoin has a range of uses, including funding companies, investing cash and transferring money without fees. It is commonly associated with criminal activity such as drug dealing, cyber crime and money laundering, since it can be near-impossible to tie a bitcoin wallet to any one individual. Bitcoin can be spent online and at select retailers in the UK. They include CEX stores, some pubs and stores like e-cigarette shops and YourSushi restaurants. A full list of online and offline businesses that accept bitcoin is available here . They can also be withdrawn at a couple of dozen bitcoin ATMs, which can be found here . However, a surge of network activity has meant transaction fees spiking, meaning some retailers have lost enthusiasm. Computer maker Dell, for example, ended its pilot of accepting Bitcoins, as did online gaming store Steam. Others simply hold their Bitcoins, hoping they will accumulate in value and prove to be a lucrative investment. Its price is notoriously volatile, and early investors are now sitting on massive gains. Should I invest in Bitcoin? Bitcoin is safeguarded against fraud and theft through independent and decentralised set up, as well as being free from transaction fees. It has also given great returns to some investors, with the price jumping from a few dollars at the beginning of 2013 to $1,100 by November. People who invested £2,000 five years ago would now be very wealthy. After a few level years, its dollar price soared during 2017 , and it peaked at more than $20,000. But the price has plunged since then, leaving investors to ponder whether its bubble has burst or the best is yet to come. || How Jeff Bezos got the idea to sell 'everything' on Amazon: Amazon ( AMZN ) is known for selling nearly everything, from electronics to disinfecting wipes, but of course the e-commerce giant started out selling only books when it launched in 1994. In a fireside chat last week at The Economic Club of Washington D.C., Amazons chief executive explained the original business plan for the company focused entirely on selling books online an idea that occurred to Bezos in 1994 after calculating the nascent internet was rapidly growing at roughly 2,300% a year. I looked at that and was like, I should come up with a business idea on the internet and let the internet grow around this, Bezos recalled. And so I made a list of products and started force-ranking them, and I picked books, because books are super-unusual in one respect, which is there are more items in the book category than there are items in any other category, Bezos recalled. There are 3 million different books active and in print around the world at any given time. So, the founding idea of Amazon was to build a universal selection of books. Emailing 1,000 customers But after the company also began selling music and electronics in the late 1990s, Bezos turned to Amazon customers to figure out how he could further expand the business. Amazon CEO Jeff Bezos at The Economic Club in Washington, D.C. on Sept. 13. I emailed 1,000 randomly selected customers, and asked them, besides the things we sell today, what would you like to see us sell? Bezos recalled. And that answer came back incredibly long-tailed. Basically, the way they answered the question was whatever they were looking for at that moment. One of the answers was, I wish you sold windshield wiper blades, because I really need windshield wiper blades. And I thought to myself, we can sell anything this way! And then we launched electronics and toys and many other categories over time. The rest is history for Amazon, which now sells a wide array of items from third-party merchants, not to mention Amazon itself. During the companys second quarter, online store sales generated $27.2 billion, with nearly $9.7 billion generated from third-party sellers. Put another way: Amazon has built $840 billion of wealth for other people over the last 21 years, Bezos added. Story continues Those kinds of figures, as well as Amazons aggressive and successful push into areas such as cloud computing and advertising, have helped catapult Amazon into the stratosphere. The Seattle tech giants market cap crossed $1 trillion in early September, making it the second U.S. company to do so after Apple ( AAPL ) accomplished a similar feat in August. A bumpy few months Still, Amazon, like other tech giants, has had a bumpy few months. Amazon stock dipped over 3% on Monday following a Wall Street Journal report claiming employees accepted bribes in exchange for confidential information, bringing the companys market cap down to almost $931 billion. However, Bezos has cautioned employees in the past not to worry too much about fluctuations in the companys stock. At almost every all-hands meeting, I say, Look, when the stock is up 30% in a month, dont feel 30% smarter, because when the stock is down 30% in a month, its not going to feel so good to feel 30% dumber, Bezos explained. Instead, Amazons chief executive has his sights set on future quarters. None of the people who report to me should really be focused on the current quarter, Bezos explained. Sometimes, well have a really good quarterly conference call or something, and Wall Street will like our quarterly results. People will stop me and say, congratulations on your quarter, and I say, Thank you. But what Im really thinking is, that quarter was baked three years ago. Right now, Im working on a quarter thats going to reveal itself in 2021 sometime. And thats what you need to be doing: you need to be looking to two to three years in advance. Last weeks surprisingly frank discussion additionally covered a wide range of topics. The 54-year-old Amazon chief executive also reflected on his stepfather, a Cuban immigrant, and his mother, who had Bezos in Albuquerque, New Mexico, when she was 17 years old. He spoke of the virtues of getting eight hours of sleep each night, which enable him to make a small number of high-quality decisions. He also acknowledged that big businesses like his should be scrutinized . Bezos even disclosed Amazon would reveal the location of HQ2, the companys second headquarters, by the end of 2018 a long-awaited announcement expected to heavily impact the chosen citys local residents, labor, and housing. 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: Peloton CEO: Sales increased after we raised prices to $2,245 per bike LinkedIn co-founder Reid Hoffman defends Facebooks response to election meddling Bitcoin advocate Charlie Shrem: Heres how long you should hold your crypto Reddit co-founder: Why Im betting on bitcoin despite its volatility || How Crypto Will Grow Into an Institutional Asset Class: There have been rumblings about financial institutions adding crypto services to their offerings, raising new funds for digital currencies, and even launching dedicated trading desks . But until institutional investors have a regulated, full featured trading exchange with diverse sets of spot and derivatives products, their adoption will crawl at a snail’s pace, and crypto will continue to fall short of being the robust, legitimate asset class that it can be. Institutional exchanges for cryptocurrency represent a multi-billion-dollar whitespace market. Various parties—including Intercontinental Exchange, parent company of the NYSE—are vying to get such venues up and running . But some of the exchanges in development today face significant regulatory hurdles, and may be held back from launch until they wrestle with complex issues like securities custody and settlement. So, what are institutional investors to do since many want to make meaningful moves in the crypto markets now, not years from now? Why Crypto’s Retail Infrastructure Won’t Work for Institutions Crypto was born “retail first.” In many ways, crypto wouldn’t exist without the early adoption of retail speculators and entrepreneurs. But this came at a cost, because building an asset class “retail first” ignored the largest consumers of mature asset classes: traditional institutional capital. These investors and speculators provide liquidity for consumers, stabilize prices and drive innovation around valuation. But large institutional players demand levered products (derivatives), highly reliable infrastructure hosted in Wall Street data centers, and compliance features that fit in with their existing trading desks. This is why institutional investors will be challenged to adopt existing retail focused crypto exchanges. Not necessarily because all are untrustworthy, but because they were built retail-first. That said, trust is indeed an issue for institutional players, as many retail exchanges are unregulated and based offshore. Story continues Crypto needs better “rails” in place to turn it from an asset class into a capital class. But it is “here to stay.” Making Crypto a Capital Class What’s needed to make crypto a capital class is to allow physically delivered forwards, or the delivery of the actual asset after the expiration of a trading contract . This will be instrumental for getting institutional investors into crypto—but the existing infrastructure has problems delivering this. The Chicago Mercantile Exchange and the Chicago Board Options Exchange have started down this path by offering financially settled forwards for Bitcoin (cash settled in lieu of physical Bitcoin). However, because of the thin liquidity in the underlying spot markets, these contracts are subject to manipulation at settlement and distrusted by institutional venues. Daily volumes in August averaged just over 30,000 Bitcoin equivalent on CME and 5,000 on CBOE . This is why Bain Capital Ventures joined OKCoin USA to lead a $15 million Series B in Seed CX , a licensed cryptocurrency exchange to offer institutional trading and settlement for both spot and CFTC-regulated derivatives. This company will give institutions access to the levered products they want, with settlement functionality—including physically delivered forwards—on its platform. Centralized or Decentralized? Ultimately, two parallel worlds will form to support the crypto asset class: a centralized system that mirrors the traditional financial system, but with many friction points removed, creating an on-ramp of fiat into the crypto world. a decentralized, trust-less replica of the centralized system with protocols built to support each independent function. One cannot exist without the other and both can flourish together. There’s benefit in crypto assets and services that fall into the second, i.e., the decentralized, category, because they offer an alternative, non-fiat way to store value and conduct business without reliance on the competence and ethics of sovereigns and central banks, a notion that will gain more appreciation. Central banks—especially in the developing world—can harm national economies if they can’t overcome systemic shortcomings and stem inflation or devaluation. This is why some companies are developing “stablecoins” whose value is less prone to fluctuation, in one case pegging the value of a digital coin to the U.S. dollar. A decentralized digital currency like this can protect a society from the fallibilities of its own central bank. Decentralized money markets built with blockchain will also be of great benefit to the developing world, as they will enable people to lend, borrow and earn interest on their crypto assets without the burden of counter-party risk. There is plenty of opportunity to create new ways for the hundreds of millions of unbanked and under-banked people to join the global economy. Decentralized crypto assets can help people worldwide. But cryptocurrency as an asset class will not fully develop until institutional investors get off the sidelines and into the game. And what these investors want is a centralized, trusted venue for trading these new currencies. || UK's Oldest Crypto Exchange Prepares for Employee Layoffs: In what may be a sign that business in the cryptocurrency space is in a winding down phase, U.K.-based bitcoin exchangeCoinflooris bidding adieu to half of its staff.
The company, which claims to be the oldest crypto exchange in London, has roughly 40 employees. More than half of them will be let go, Financial Newsreported, citing two sources close to the matter. The news broke early today, October 8, 2018.
Coinfloor CEO Obi Nwosu confirmed the layoffs but declined to spell out exactly how many employees would be let go. He told Financial News the staff cuts were a normal response to a changing market environment.
Following the market’s downturn at the beginning of 2018, a lot is changing in the cryptocurrency business. Since the beginning of the year, bitcoin has lost more than half of its value, and regulations across the globe are heating up. China has been taking increased action toclamp downon all things cryptocurrency, and, in the U.S., regulators are starting toget toughwithcrypto exchanges,unregistered securities dealersandquestionableinitialcoin offerings.
Amidst this shifting landscape, Coinfloor is not the only one to feel the market’s pinch. In September, Jesse Powell, the CEO of San Francisco-based exchange Kraken, said the company wascutting 10 percentof its client services team in a “cost-saving measure,” but denied rumors that the layoffs would amount to any more than that. At the time of publication, Kraken is the 23rd largest exchange by trading volume.
Despite the market downturn, some exchanges continue to paint a rosy picture. Binance boasted that it expected a net profit of $500 million to $1 billion in 2018,accordingto its chief executive officer. But without seeing the company’s financials, it is hard to get a clear view on the full picture.
Typically, exchanges make a lucrative profit, which is why so many have entered the game as of late. To date, there are 219 crypto exchanges all competing for each other’s business. But if the current market downturn continues, more will likely have to make adjustments or else bow out.
Founded in 2013, Coinfloor was one of the first exchanges onto the scene. Its big pitch early on was that it followed strict know-your-customer (KYC) and anti-money-laundering (AML) procedures to ensure the integrity of its users and traders.
According to itswebsite, the exchange is backed by TransferWise founder Taavet Hinrikus, venture capital firm Passion Capital and Adam Knight, a former managing director at Goldman Sachs and Credit Suisse.
This article originally appeared onBitcoin Magazine. || Price of Gold Fundamental Daily Forecast – Traders Showing Little Reaction to Fresh Tariffs: Gold prices are trading lower shortly before the regular session opening. The market is under pressure early Tuesday as investors moved money into the safe-haven U.S. Dollar after the U.S. imposed a fresh round of tariffs on Chinese imports. On Monday, President Trump said that he will impose 10 percent U.S. tariffs on about $200 billion worth of Chinese imports, effective September 24. Trump also said that if China takes retaliatory action against U.S. farmers or industries, “we will immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports.” Despite the threat from Trump, the focus will shift towards China’s response to the announcement. Most analysts expect China to attempt to disrupt the U.S. supply chain with components for technology devices an obvious target as well as raw materials used to make certain devices. Furthermore, the country may even announce the cancellation of trade talks. At 1016 GMT, December Comex Gold settled at $1203.40, down $2.40 or -0.21%. Forecast Gold may be under pressure early Monday, but we’re not seeing aggressive shorting. This suggests the tariff news may have already been priced into the market. Furthermore, we’re not really seeing the shedding of risky assets with U.S. stocks trading higher after recovering from early session losses. Additionally, the USD/JPY is also trading higher. This is further evidence that investors aren’t being too rattled by the tariff news. If the trade tariffs become a muted issue today then investors will shift their focus on the direction of U.S. Treasury yields. If yields rise then then will be another sign that investors aren’t seeking protection from the uncertainty one would expect from an escalating trade warm. It may also be an indication that investors are already looking ahead to next week’s widely expected 25 basis point rate hike by the Fed. Technically, the key resistance area remains the 50% level at $1205.90 to th3 61.8% level at $1215.10. Story continues If traders give up on the upside then prices may retreat into the short-term retracement zone at $1193.90 to $1187.60. This article was originally posted on FX Empire More From FXEMPIRE: USD/CAD Daily Price Forecast – USD/CAD Range Bound On USD Sell Off But Stable Above 1.30 Handle Commodities Daily Forecast – September 18, 2018 E-mini Dow Jones Industrial Average (YM) Futures Analysis – September 18, 2018 Forecast AUD/USD and NZD/USD Fundamental Daily Forecast – “Big Boys” Driving Out Weak Shorts in Counter-Trend Rally Bitcoin aims for the long-term support! E-mini S&P 500 Index (ES) Futures Technical Analysis – September 18, 2018 Forecast || Bitcoin Price Manipulated by Cryptocurrency Trading Bots: WSJ: bitcoin price manipulation Bots that manipulate bitcoin price are not new, and they arent going away, according to The Wall Street Journal . The problem continues to draw regulatory scrutiny, as it was cited by the Securities and Exchange Commission (SEC) when it rejected several bitcoin ETF applications in August. Andy Bromberg, president and co-founder of CoinList, which issues tokens, told the WSJ that the bots are rampant marketwide, at least at the present time. Stefan Qin , the managing partner at cryptocurrency hedge fund Virgil Capital , uses its own bots to battle enemy bots on dozens of cryptocurrency exchanges worldwide. His company has built error handing functions to identify activities that are potentially illegal, referencing the crypto sector as the Wild West of Crypto. How One Bot Manipulates The Market Virgil, which specializes in arbitrage, suffered a harassing bot earlier this year that targeted certain ether trades, Qin told the publication, causing losses. Virgil was checking prices every minute looking for arbitrage opportunities with cryptocurrency prices. The hostile bot would post and order to sell ether at a price lower than what other sellers were offering, prompting Virgil to try to make a buy. Right before Virgil completed the purchase, the bot would cancel its sell order. As a result, Virgil posted buy orders that never got executed, which increased the price on other exchanges, according to Qin. This practice of faking orders and then canceling them is known as spoofing, the purpose of which is to create the impression that supply or demand for an asset is higher than it actually is. U.S. futures and stock markets outlawed the practice in 2010, but there have long been allegations that it is taking place in the cryptocurrency markets. Manipulation Has Defenders bitcoin price Some bitcoin supporters who oppose to cryptocurrency regulation dont consider market manipulation as wrong and openly support it. Trader Kjetil Eilersten developed a program called Quatloo Trader which he bills as the leading cryptocurrency market manipulation tool. He told the WSJ that he thinks it is pointless to outlaw manipulating digital currencies. He said it would be better to provide sophisticated manipulation tools to small traders as a way to level the playing field. If everyone manipulates, no one manipulates, he said. Story continues Other crypto traders see manipulation as undermining its adoption. Also read: Mt. Gox trading bots manipulated the bitcoin price WSJ: Bots Enable Pump-and-Dump Schemes Bots also enable pump-and-dump schemes, whereby traders promote a cryptocurrencys price before dumping it to make a profit. Those investors who bought at the top price end up losing the most. Quatloo Trader has a tab called whale tools that execute abusive strategies. One such tool, ping pong allows users to execute buy and sell orders to themselves, giving the illusion of extensive activity for a cryptocurrency. The practice, known as wash trading, is illegal in futures and stocks. Crypto pump groups did at least $825 million in a six-month period, the Wall Street Journal reported in August. Regulators have taken note. The Commodities Futures Trading Commission (CFTC) and the U.S. justice Department are investigating cryptocurrency manipulation while the SEC has been battling the issuing of fraudulent tokens. The CFTC in particular has issued a consumer warning on pump-and-dump schemes involving cryptocurrency and has offered cash rewards for whistleblowers who provide evidence of such operations. Featured Image from Shutterstock. Charts from TradingView . The post Bitcoin Price Manipulated by Cryptocurrency Trading Bots: WSJ appeared first on CCN . || Morgan Stanley is reportedly getting ready to offer clients exposure to bitcoin with a new trading product (MS): James Gorman Neilson Barnard/Getty Images Morgan Stanley is diving deeper into the world of cryptocurrencies and is planning to offer trading of a new product tied to bitcoin , according to a Bloomberg News report. The new bitcoin swaps at Morgan Stanley would represent the latest move by a Wall Street bank in the crypto space. Watch bitcoin trade in real time here . Morgan Stanley is planning to offer trading of a derivative product tied to bitcoin, according to a report by Bloomberg News. The New York financial-services firm is reportedly planning to offer bitcoin swaps, which would give investors exposure to the performance of the digital currency without having to buy it, according to the report. The product is ready to go-live, but the firm is waiting for the right amount of demand from institutional clients. Morgan Stanley, which has been clearing bitcoin futures trades for its clients , is the most recent bulge-bracket bank to dive deeper into the market for digital currencies. The bank has not said it is trading bitcoin itself. Citigroup, for instance, has created what it's calling a digital asset receipt , thought to be the most direct way to invest in cryptocurrencies without owning them, according to people with knowledge of the project. It works much like an American depository receipt, which has been around for decades, to give US investors a way to own foreign stocks that don't otherwise trade on local exchanges. The foreign stock is held by a bank, which then issues the depository receipt. Meanwhile, Goldman Sachs is exploring a custody product for cryptocurrencies and already actively trades bitcoin futures and other products tied to the digital coin. As for Morgan Stanley, the bank hired Andrew Peel from Credit Suisse in June as head of digital assets, according to Bloomberg. Despite Wall Street's intensifying interest in bitcoin and other cryptocurrencies, the market for such assets has plummeted this year. Bitcoin is down more thn 50% this year. Story continues NOW WATCH: What drinking diet soda does to your body and brain See Also: A cryptocurrency created as a joke about a dog meme is surging while other coins are tanking Goldman Sachs is ditching near-term plans to open a bitcoin trading desk, instead focusing on a key business for driving Wall Street investment in crypto Coinbase, the cryptocurrency powerhouse, has doubled its staff to 500 even amid bitcoin market rout || Abra Supports SEPA Bank Transfers, Enabling Crypto Purchases With Fiat: Abra Supports SEPA Bank Transfers, Enabling Crypto Purchases With Fiat Abra, the all-in-one digital wallet and cryptocurrency exchange, has announced its support for Single Euro Payment Area (SEPA) bank accounts. European users can now enable direct wire transfers from European banks to purchase any of Abra’s 28 available cryptocurrencies. Founded in 2014, Abra is working toward providing users with maximum privacy and control. The application is non-custodial, and the wallet’s private keys are never held by anyone other than the actual user. Abra employs no middlemen, ensuring customer funds are never touched, managed or viewed by outside parties. Past and present investors in Abra include American Express Ventures, First Round Capital, Arbor Ventures and RRE Ventures. Bill Barhydt is the founder and CEO of Abra. Speaking with Bitcoin Magazine , he explains, “Abra’s new European bank transfers will be available to people living in 34 countries if they have a SEPA-supported bank account. We get asked all the time by our users in Europe to try and find ways to make investing in cryptocurrencies easier.” Abra wallets were initially funded using wire and bank transfers in the U.S. Customers could also purchase crypto using both credit or debit cards. The platform’s integration of SEPA will give several European Union nations the chance to deposit either national fiat currencies or euros into their Abra wallets to invest in cryptocurrencies. Among the countries now privy to this service are Poland, Romania, Cyprus, Austria, Germany and Italy. Abra’s recent partnership with Coinify — a secure platform for buying and selling bitcoin — is what helps to connect SEPA bank accounts with the Abra app. Once users have deposited funds into their Abra wallets, Coinify transfers the money into BTC based on present exchange rates. Users can then use their bitcoins to purchase any of Abra’s other cryptocurrency offerings. Furthermore, Abra says it is adding three more cryptocurrencies to its trading system: Cardano (ADA), Basic Attention Token (BAT) and Tron (TRX). Abra also allows users to hold and trade bitcoin, ether, ethereum classic, bitcoin cash, dash and dogecoin among others. Barhydt states, “We are constantly looking for new ways to help make investing in cryptocurrency more simple and secure. By adding bank deposit support in Europe, we enable millions of people who are just entering crypto [to] gain exposure to this new asset class. We are also working on adding funding support to more countries across the globe. We have a lot of big plans in the next few months that are aimed at reducing some of the barriers to entry for cryptocurrency investors. In addition to that, we are constantly vetting more cryptocurrencies to add to the app.” This article originally appeared on Bitcoin Magazine . || “Crypto Sign of Hope”: Legal Uncertainty Suppresses Volatility, But ETH Volumes Are Encouraging: The second day of October and the beginning of the 4th quarter for the cryptocurrency market turned out to be anemic. The Bitcoin (BTC) does not show any price changes second day in a row staying at around $6,500. The Top-100 altcoins are also standing pat. Last week’s star XRP lost almost 3% during 24 hours despite Ripple’s announcement of three major partnerships including an $80 bln. banking giant Banco Santander. It seems that all possible optimism regarding XRP is already considered by investors in prices. At the same time, there is a trend on the growth of networks difficulty: since the beginning of June the difficulty of Zcash network has grown 4.5 times, as for the Bitcoin (BTC) network, the growth of difficulty has multiplied about 1.6 times. While “hodlers” keep waiting for the market reversal, miners are quickly selling the mined cryptocurrency admitting less income or even suffering losses. It is obvious that at the moment the market is frozen due to legal uncertainty. In the near future, it is American regulators who will determine the direction of the entire sector. Recently the representatives of the cryptocurrency business and companies providing traditional financial services went to Washington to try to speed up the creation of regulation and once again they wanted to explain to the officials the need for a friendly cryptocurrency environment in the United States. Right at the moment, Ripple heads the SAIV lobby group in Washington attempting to influence the US lawmakers. Everything in the world needs to grow up, otherwise, it dies. This law works here too, if the market does not receive any clear signals, new massive sales will be a matter of a very near future. The largest Asian regulators showed a very negative attitude to the cryptocurrency market. Thus, the Central Bank of India forced Zebpay, the largest crypto-exchange in the country, to stop its activities, banning banks from providing services to cryptocurrency companies. China continues to get rid of all possible crypto activities. New research did not help the market either: WSJ concluded that about $90 million was laundered through crypto exchanges for the last 2 years, although if we would try to imagine the volumes of such schemes within the traditional banking system, it is obvious that the cryptocurrency sector represents a very small share of the shadow business. Story continues The Bitcoin short-term technical picture does not change for a long time, so we turn to the assessment of the situation with ETH. Ethereum attracts buying interest up from the second decade of September, which caused its quotes’ rise from 13-month lows at $164.5 to current $225. It is also notable that from the beginning of the year the trading volumes grew to maximum levels reflecting the return of the demand and they have remained elevated for a long time. On the stock market, this is traditionally considered as a good signal of investors’ demand and maybe a preliminary sign of growth with the nearest target of about $280 from where the recent sale bad begun. This article was written by FxPro This article was originally posted on FX Empire More From FXEMPIRE: E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – October 2, 2018 Forecast EUR/USD Mid-Session Technical Analysis for October 2, 2018 Price of Gold Fundamental Daily Forecast – Price Action Being Driven by Technical Factors, Who is Buying? Risk Appetite Dwindles as NAFTA Cheer Fades Gold Just Below $1200 and Looking Higher Rescued NAFTA Deal Fails to Lift Global Risk Appetite || Blockchain Search Engine BlockBar To Make Digital Currency Transactions Tracking Easy: BlockBar launches the first ever search engine built for the blockchain, aims to help digital currency investors to track real-time transactions. The search engine also features a blockchain directory with latest updates of cryptocurrency projects
SINGAPORE / ACCESSWIRE / October 17, 2018 /The incredible growth of cryptocurrency world made the number of digital currencies and user base explode massively. As a result, it can be exceedingly difficult to keep track of transactions. Tools to help track and manage cryptocurrencies are still pretty slim. BlockBar is trying to help by itsblockchain search engineto track transactions and asset management.
A search engine built for the blockchain community
It's not a secret that the cryptocurrency market cap has grown faster than any other industry or technology and the adoption is rapidly increasing. BlockBar is a platform that helps users to track their crypto assets across all exchanges, wallets, and currencies.
BlockBar will allow users to check transaction hash or ID and addresses with ease. "Blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions and once a transaction has been recorded and verified, it cannot be changed. The search engine site blockbar.com is similar to conventional search engines like google.com and ask.com. We intend to build a platform that's easy to use, reliable and helpful" says sources close to the team.
A big fat cryptoworld directory is included
The search engine is not the only prime features of BlockBar. The platform has developed additional features its users could use such as a blockchain directory.
"Blockbar directory is an online cryptoworld directory that has the most complete and up-to-date crypto project." the project team explained in an announcement published on BloqWirecrypto newsnetwork.
The new search engine has specific categories and subcategories listing various projects. The payment currency, for example listed Basic Currency, Anchored Fiat Money, and Anonymous Currency as sub-categories. The Basic Currency sub-category for instance listed Bitcoin, Bytecoin, Bitcoin Cash, Ripple, Digibyte, Dogecoin, Gifto, Dai, Nano, NEM, Hshare, Bitcoin Diamond, Bitcoin Glad, Latoken, Verge, APIS, Groestlcoin, Super Bitcoin, Cryptonex, Gochain, Decred, Ethereum, Nxt, Ormeus Coin, Digitalnote, MaidSafeCoin, Zipper, Emercoin, Metal, GoNetwork, and Zclassic. Other categories listed in the search engine directory are Science, Infrastruct, Financial Tools, Public Welfare, Payment Tools, Cloud Service, Social, Media, Entertainment, Health, Transport, New economic Energy, and Others. The first category tagged "HOT" are blockchain projects considered by a team of experts to be gaining much momentum at the time of ranking.
Recently blockbar announced on their twitter handle, @the_blockbar, that Steemit, a blogging and social networking website owned by Steemit Inc that uses the Steem blockchain to reward publishers and curators, has been included in its search engine's directory category.
Mostly traders choose to search addresses and transactions through the official explorers provided by individual cryptocurrencies, which users never find as a convenient way. With the introduction of BlockBar, the team is putting an end to this problem. Users can just paste an address or transaction ID, and they can search all coins in one place.
While describing other features in store for users, the team said they are working on an asset management software which will be added to blockbar soon, so that users can effectively manage their crypto funds with lesser stress. However, their biggest project which they are tirelessly working on, is to make blockbar a decentralized application (DApp), to become the first ever search engine that runs 100% on the blockchain.
Contact Info:Name: BlockBarEmail:Send EmailOrganization: BloqWire
For more information, please visithttps://www.blockbar.com
SOURCE:BloqWire
[Random Sample of Social Media Buzz (last 60 days)]
Oct 24, 2018 12:00:00 UTC | 6,468.00$ | 5,667.20€ | 5,006.10£ | #Bitcoin #btc pic.twitter.com/ALTiaKn80t || 1H
2018/09/06 06:00 (2018/09/06 05:00)
LONG : 26056.34 BTC (+64.67 BTC)
SHORT : 33370.52 BTC (-48.54 BTC)
LS比 : 43% vs 56% (43% vs 56%) || Sep 29, 2018 03:00:00 UTC | 6,496.60$ | 5,594.90€ | 4,985.50£ | #Bitcoin #btc pic.twitter.com/0Pyp0oioRW || A few months back when i was researching bitcoin options I found out about that and straight away purchased slightly better $40,000.00 EOY call options from Deribit at a $3,590 discount lol... looking back maybe $10 was even too expensive lol || #LIZA #LAMBO price
10-26 14:00(GMT)
$LIZA
BTC :0.00000
ETH :0.00000
USD :0.0
RUR :0.0
JPY(btc) :0.0
JPY(eth) :0.0
$LAMBO
BTC :0.009
ETH :0.275
USD :55.1
RUR :3880.0
JPY(btc) :6337.3
JPY(eth) :6187.6 || Bitcoin (BTC) price: $6582.98, 24HR change: -115.04
Ethereum (ETH) price: $227.92, 24HR change: -16.00 || Lanzar Un Sitio Web En La Red #Bitcoin Cash Ya Es Una Realidad https://goo.gl/fb/3M5cfV #tecnología #bch #bitcoincash || Cotización del Bitcoin Cash: 424 00.€ | +0.07% | Kraken | 10/09/18 00:00 #BitcoinCash #Kraken #BCHEUR || Korea price
Time: 09/21 00:51:55
BTC: 7,241,875 KRW
ETH: 237,300 KRW
XRP: 416 KRW
#Bitcoin #Ethereum #Ripple || 2018/09/14 17:00
#Binance 格安コイン
1位 #HOT 0.00000017 BTC(0.12円)
2位 #NPXS 0.00000024 BTC(0.18円)
3位 #BCN 0.00000030 BTC(0.22円)
4位 #DENT 0.00000036 BTC(0.26円)
5位 #NCASH 0.00000079 BTC(0.58円)
#仮想通貨 #アルトコイン #草コイン
|
Trend: up || Prices: 6334.27, 6317.61, 6377.78, 6388.44, 6361.26, 6376.13, 6419.66, 6461.01, 6530.14, 6453.72
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-09-10]
BTC Price: 6329.70, BTC RSI: 39.18
Gold Price: 1193.00, Gold RSI: 42.28
Oil Price: 67.54, Oil RSI: 45.07
[Random Sample of News (last 60 days)]
Bitcoin as a Privacycoin: This Tech is Making Bitcoin More Private: Bitcoin as a Privacycoin: This Tech is Making Bitcoin More Private Ever since its inception Bitcoin has never really been private. Although Satoshi Nakamotos white paper suggests privacy was a design goal of the protocol, government agencies, analytics companies and other interested parties lets call them spies have ways to analyze the public blockchain and peer-to-peer network, to cluster Bitcoin addresses and tie them to IP addresses or other identifying information. A lack of privacy is a problem. Bitcoin users might not necessarily want the world to know where they spend their money, what they earn or how much they own, while businesses may not want to leak transaction details to competitors to name a few examples. Additionally, a lack of privacy could lead to a loss of fungibility: the property by which each monetary unit is worth the same as any other, which is an essential requirement for money. If, for example, it can be established that certain coins were at some point used for politically sensitive purposes, some might be less willing to accept these tainted coins as payment, harming fungibility for all of Bitcoin. Fortunately, spying on Bitcoin users is becoming increasingly difficult. Recent months in particular saw the introduction of a number of promising, privacy-enhancing technologies, and several more solutions should be released throughout the rest of the year or the next. Heres an overview of some of the most promising projects. TumbleBit Almost two years in the making, TumbleBit was long among the most highly anticipated privacy solutions to be rolled out on Bitcoin. TumbleBit is a coin-mixing protocol that uses a (centralized) tumbler to create off-chain payment channels between participants in a mixing session. Through these channels, all participants send coins and receive an equal amount of different coins in return. This process breaks the trail of ownership for all: neither spies nor any of the participants can re-establish who paid who. Further, and importantly, TumbleBit utilizes clever cryptographic tricks to ensure that even the tumbler cant establish a link between the users. Story continues TumbleBit does require two on-chain transactions per participant (one to open a channel, one to close it). While a trustless solution, this does make it one with somewhat higher fees than the alternatives. TumbleBit was first proposed in 2016 by an academic research team from Boston University, George Mason University and North Carolina State University, headed by Ethan Heilman and presented at Scaling Bitcoin Milan in the fall of that year. The ball really got rolling when NBitcoin developer Nicolas Dorier implemented an early version of the technology, which was later improved by privacy-focused developer Ádám Ficsór and others, to ultimately be implemented in Stratis Breeze wallet. This Breeze wallet was officially released about a month ago, meaning that TumbleBit is currently available for anyone to use though usage (and, therefore, the privacy-providing anonymity set) is reportedly still low. ETA: Available now Chaumian CoinJoin and ZeroLink CoinJoin is an old idea by Bitcoin standards, first proposed by Bitcoin Core contributor Gregory Maxwell in 2013. In essence, the trick is to combine several transactions into one bigger transaction, obfuscating which bitcoins are moving from which sending addresses (inputs) to which receiving addresses (outputs), exactly. As a simple example, lets say Alice, Bob and Carol all want to mix their coins with each other. Using CoinJoin, they can create a transaction that sends money back to themselves, using new addresses not tied to their identity. As long as Alice, Bob and Carol use equal amounts of coins, spies cant tell which of the new addresses belongs to whom. (If they use different amounts of coins its obvious which coins moved where.) CoinJoin transactions have been a reality for years, but for a long time one problem remained: Someone like Alice, Bob or Carol needs to construct the transaction. This person must learn exactly which old addresses are sending bitcoin to which new addresses; otherwise, it would be impossible to construct the transaction. If this person is a spy which is often impossible to know the effort becomes pointless: The spy could re-establish the trail of coin ownership. This problem can also be solved, using a trick mentioned by Gregory Maxwell in the same 2013 proposal, dubbed Chaumian CoinJoin (after David Chaums blind signature scheme ). In short, Alice, Bob and Carol will now connect to a central Chaumian CoinJoin server, perhaps operated by a wallet provider. First, they all give their sending addresses, as well as blinded (cryptographically scrambled) receiving addresses, which are cryptographically signed by the server. Then, Alice, Bob and Carol disconnect in order to reconnect via a hidden connection (like Tor) and provide their unblinded addresses. Utilizing the magic of Chaumian blind signatures, the server can verify that the unblinded addresses match with the blinded addresses. This allows it to verify that the addresses really belong to Alice, Bob and Carol not to an attacker without learning which of the addresses belong to whom. The Chaumian CoinJoin proposal fell by the wayside for about four years after it was first proposed. Then, about a year ago, Ádám Ficsór while working on Breezes TumbleBit implementation rediscovered the proposal and decided to implement it. Embedded in the ZeroLink framework Ficsór has since designed, Chaumian CoinJoin is now implemented in Ficsórs new privacy-focused Wasabi Wallet , which was recently released in beta. Even more recently, privacy-focused Samourai Wallet announced it will soon release a mobile ZeroLink implementation, called Whirlpool. Yet another, newer wallet by the name of Bob Wallet is also developing a ZeroLink implementation. ETA: Available now (beta) Schnorr Signatures for CoinJoin and More While CoinJoin including Chaumian CoinJoin was always possible, and first proposed years ago, its never caught on in a big way so far. For a long time, no popular wallet offered the feature, which may be because CoinJoin transactions add complexity, with little upside for those who dont care about privacy as much. Schnorr signatures , for which Bitcoin Core and Blockstream developer Pieter Wuille recently presented an official Bitcoin Improvement Proposal (BIP), could help provide this upside. Named after its inventor Claus-Peter Schnorr, Schnorr signatures are considered by many cryptographers to be the best type of cryptographic signatures in the field. Perhaps the biggest concrete advantage for Bitcoin is that multiple signatures can be aggregated into a single signature. This means that one signature can prove ownership of multiple sending addresses (inputs). Therefore, only one signature is ever needed per regular transaction, no matter how many sending addresses (inputs) are included. CoinJoin transactions, of course, always include multiple sending addresses as well, at least one for each participant and possibly more. Schnorr signatures could, therefore, add a new benefit to using CoinJoin: They enable all participants, not only to combine their transactions into one, but also to combine their signatures in that transaction into one. This would make the CoinJoin transaction smaller in size than the individual transactions combined would have been which, in turn, means that miners should charge a smaller processing fee. With Schnorr, there would be a cost benefit to using the most private option, which might just provide the right incentive for wallets to implement it and make it the go-to option for everyone. In addition, Schnorr signatures mathematical properties will benefit a brand new class of more complex, smart contract-like solutions with names like scriptless scripts, Taproot and Graftroot. Interestingly, these solutions would appear like regular Bitcoin transactions on the Bitcoin blockchain. This could for example enable futures markets, decentralized exchanges or insurance contracts without spies being able to identify anything but regular-seeming transactions. ETA: Optimistically, 2019 STONEWALL Another CoinJoin-related privacy measure was introduced by Samourai Wallet in May 2018 as a replacement for a similar but inferior solution. Called STONEWALL, the trick doesnt actually utilize CoinJoin but makes it seem that it does. STONEWALL transactions are, in effect, regular transactions: They send bitcoin from one user to another. However, STONEWALL transactions do something odd: They include an unnecessary number of sending addresses (inputs) and change addresses (outputs). This makes the transaction look a lot like a CoinJoin transaction a transaction where two people are combining their transactions into one even though, in reality, it isnt. (More details here .) The idea behind STONEWALL is to break (indeed, stonewall) the assumptions that spies presumably make when analyzing the Bitcoin blockchain. If these spies cant tell for sure whether transactions are really CoinJoin transactions or not, any conclusions based on this transaction data is worthless. Samourai Wallet will soon also deploy 2-wallet STONEWALL, which are real CoinJoin transactions, shared between two users that trust one another with their privacy. ETA: Available now; 2-wallet STONEWALL to follow in the next month or two Dandelion A very different method to deanonymize Bitcoin users is through analysis of the peer-to-peer network. More specifically, spying nodes could monitor the Bitcoin network to try and find out where transactions originate: The first node to transmit a transaction is probably the one that created it. Dandelion is a solution proposed by a team of academic researchers from Carnegie Mellon University, the University of Illinois and MIT. It was recently presented at the Building on Bitcoin conference in Lisbon by Carnegie Mellon University professor Giulia Fanti. The solution counters network analysis by changing how transactions are spread over the peer-to-peer network. Instead of immediately broadcasting and forwarding a new transaction to as many peers as possible, the Dandelion protocol initially sends a new transaction to only one peer node. This node randomly decides whether it also forwards it to only one peer or not. If forwarded to only one peer, the next node will randomly decide what to do as well. (And so forth.) If not forwarded to only one peer, the node transitions to broadcasting the transaction to as many peers as possible, and all receiving peer nodes follow suit. This should make it significantly harder for spies to pinpoint where a transaction originated. A version of Dandelion has already been implemented by the research team, and the general proposal has received a positive response within Bitcoins development community. As such, it seems likely to be included in an upcoming Bitcoin Core release (though the very next release, 0.17.0, will come too soon). ETA: 2019 BIP 151 Encryption Another older proposal to limit network analysis is BIP 151 , authored by Bitcoin Core maintainer and Shift developer Jonas Schnelli. BIP 151 is a somewhat straightforward solution: It would let Bitcoin nodes encrypt traffic (hence, transaction and block data) between them. It should be noted, however, that in bare form BIP 151 is no panacea for privacy. For one thing, the Bitcoin blockchain is public anyway, and, more importantly, nodes could connect to and share data with the very same spies theyd prefer to hide from. Still, BIP 151 could be a stepping stone to counter several types of attacks, including attacks on privacy (such as man-in-the-middle attacks ). And even in bare form, the solution is arguably better than nothing. Specifically, particular use cases and scenarios would benefit from peer-to-peer encryption; for example, ISPs or open wifi networks would no longer be able to monitor Bitcoin traffic. While BIP 151 dropped off the radar a little bit for a year or two after it was first proposed, Schnelli recently picked up the project again and re-drafted an official BIP to be discussed and potentially included in Bitcoin Core. ETA: 2019 Compact Client-Side Block Filtering To use Bitcoin without needing to download and verify the entire blockchain, many people use light clients, like mobile wallets. Unfortunately, almost all of these light clients have weak, if any privacy protection. They typically share their addresses with either a central server or a random node on the network, both of which can be spies or be spied on. Many of the light clients that (effectively) share their addresses with a random node on the network use a trick called Simplified Payment Verification (SPV). These SPV clients typically use Bloom filters to request the transactions potentially relevant for them if there are any. While such a filter will return false positives, which means the SPV client will request more transactions than strictly needed, these are few compared to downloading all transactions. Unfortunately, SPV wallets do effectively reveal all their addresses to the nodes they request this data from as well. To tackle this problem, Lightning Labs developers Olaoluwa Osuntokun and Alex Akselrod, along with Coinbase developer Jim Posen, proposed a new solution called compact client-side block filtering. Compact client-side block filtering was originally designed for Lightning Labs Lightning-focused Neutrino wallet but can be used by regular Bitcoin wallets as well: the Wasabi Wallet already implemented the solution in its beta release. Compact, client-side block filtering essentially inverts the trick that current SPV wallets use. Instead of SPV wallets requesting transactions relevant to them by creating and sending out a Bloom filter, full nodes create a similar filter. SPV wallets then use this filter to establish that relevant transactions did not happen. If the filter does produce a match, Neutrino fetches the relevant block to see if the match really concerns the exact transaction, instead of a false positive. Since SPV wallets using compact, client-side block filtering no longer request anything specific from any node, to instead receive a one-size-fits-all filter, they also reveal nothing about their transaction history. ETA: Available now (beta) Liquid and Confidential Transactions Liquid is the first commercial sidechain developed by blockchain development company Blockstream. Its main purpose is to establish transaction channels between exchanges and other high-volume Bitcoin companies (like brokerages), allowing them to send bitcoin and other assets between them much faster than the Bitcoin blockchain would allow. In the future, regular users (most obviously traders) should be able to access the sidechain too, with special Liquid wallets. One feature implemented on Liquid is Confidential Transactions (CT). CT is a trick that blinds (hides) the sending and receiving amount(s) in transactions. This is possible because clever cryptography allows math to be performed on the blinded amounts. All Liquid users can verify that the receiving amount(s) did not exceed the sending amount(s). In other words, they can check that no bitcoin was created out of thin air even if they dont know exactly how much money changed hands. In the context of Liquid, this means (among others things) that exchanges can move funds between them without anyone being able to tell how much was moved. The process offers privacy, and competitors will, for example, be unable to tell how much money is held in the exchanges. Meanwhile, traders can no longer use such information to trade on, which is effectively a form of front running possible today due to the public nature of Bitcoins blockchain. As Liquid becomes available to regular traders later on, these users could, most obviously, utilize the protocol to keep their balances hidden from spies, even after withdrawing funds from an exchange to temporarily hold it on the sidechain or move it to a different exchange. In addition, CoinJoin types of solutions could be developed for Liquid wallets, for a particularly powerful combination of privacy technologies. (As several transactions are merged into one and amounts are hidden, establishing links between the addresses becomes virtually impossible.) Even further out, CT may also be implemented on the main Bitcoin protocol. There are some ideas for how to accomplish this through a backward-compatible soft fork already, but, while technological innovation is advancing , such upgrades would still come with significant detriment for scalability and are probably still far from becoming a reality. ETA: Available for exchanges and other high-volume Bitcoin companies any day now; regular traders later and mainnet users maybe one day. Authors note: This article specifically focuses on new and upcoming privacy technologies; older solutions also include stealth addresses , using a Bitcoin full node as a wallet , Coin Control , JoinMarket and other existing CoinJoin solutions , Ricochet , PayNyms , the Lightning Networks Spinx , Monero-swapping , centralized mixers ( at your own risk ) and more. This cover story was inspired by Ádám Ficsórs recent tweetstorm on the same topic. Bitcoin Magazine does not endorse any of the products or services mentioned in this article. Always do your own research before sending or storing bitcoin anywhere. This article originally appeared on Bitcoin Magazine . || Bitcoin Price Stabilizes at $6,400 While Analyst Sticks to Crypto Downtrend: Bitcoin price Since falling from $7,400 to $6,300 on September 6, Bitcoin has stabilized in the $6,400 region, providing the crypto market with a small breathing room. Bitcoin has been fairly stable at $6,450 throughout the past 48 hours, recording a movement that has allowed tokens to minimize losses against BTC and other major cryptocurrencies. Still, Edward Morra, a widely recognized technical analyst in the crypto community, has said that Bitcoin and the rest of the market are still on a clear downtrend. Overoptimism Could Hurt Bitcoin From August 8 to August 26, for more than three weeks, Bitcoin had been relatively stable in the $6,500 to $7,000 region, demonstrating small volatility. However, from August 27 to early September, as Bitcoin started to see some major movements on the upside, the cryptocurrency market began to demonstrate extreme volatility. As seen on September 6, the end outcome of the volatility in the cryptocurrency market was a massive crash for Bitcoin, Ethereum, and the rest of the market, deleting gains over the past month. Considering the sheer speed in which the crypto market fell to its previous support level, Morra explained : Im not really sure why some people are still bullish here, market clearly showed you the evidence of supply still completely dominating the place. Erasing 2 weeks worth of gains in 2 days. Thats failed rally, and this is a sign of weakness, not the spring. Morra added that the cryptocurrency market will have to see solid stability in the low price range before properly bottoming out and initiating a mid-term rally. But, BTC and ETH, along with other assets, have not shown any signs of stabilization in their low price range. Springs occur at bottom of the range, preferably on low volume. Instead, we got the most technical bearish 0.618 macro retest followed by record $1B 1h volume candle. Thats not bullish in any senses, Morra said. Previously, ShapeShift CEO Erik Voorhees said that the bear market is not over yet but the low price range presents a viable opportunity to invest in the cryptocurrency market. Even if BTC drops in the upcoming days, it is unlikely to see BTC testing the mid-$5,000 range. Story continues But, as Morra emphasized, the market is not bullish and is not demonstrating any signs of mid-term recovery. As such, in this period, it is more urgent for major cryptocurrencies to remain stable in their low price range for weeks if not months to ensure the market truly bottoms out in the $190 billion to $200 billion range. Token Price Movements Against Bitcoin, tokens have recorded 50 to 90 percent losses over the past 8 months, despite the 70 percent correction in the price of BTC. Given the magnitude of the decline in tokens, the market will most likely show oversold conditions in the short-term. Still, in the grand scheme of things, tokens present overly high-risk opportunities with insufficient returns, at least for now. Featured image from Shutterstock. The post Bitcoin Price Stabilizes at $6,400 While Analyst Sticks to Crypto Downtrend appeared first on CCN . || Active ETFs to Help Fixed-Income Investors Navigate Rising Rates: This article was originally published onETFTrends.com.
After the three-decade long bull run in the fixed-income market, investors may be looking to actively managed bond ETFs that can better navigate the potential changes ahead.
"I think the timing for active is a great opportunity. Basically, late in the cycle, you're going to have winners and losers, so now is exactly the time when you want that expertise, that credit research, demonstrated investment process," Paul Kim, Managing Director of ETF Strategy atPrincipal Global Investors, said at the 2018 Morningstar Investment Conference.
For example, the Principal EDGE Active Income ETF (YLD) is an actively managed multi-asset fund. Multi-asset exchange traded funds have provided diversified exposure to a group of various asset classes and generated attractive yields and have become income investor favorites as advisors and investors searched for new yield sources amid several years of rock-bottom U.S. interest rates.
YLD seeks to generate consistent income through changing market environments and over market cycles. It invests opportunistically across a diversified range of income-generating asset classes while managing for risk. EDGE’s proven investment process, long history of income investing, and strong risk management and credit research capabilities may help enhance returns while reducing risks.
"Think of it as a better high-yield alternative," Kim said.
Additionally, the more recently launched the Principal Investment Grade Corporate Active ETF (IG) tries to provide current income and capital appreciation by investing in investment-grade corporate bonds rated BBB- or higher by S&P Global Ratings or Baa3 or higher by Moody’s Investors Service.
"You get to pick the business models that do better in a rising rate environment, business models that do better where yield curve is starting to move," Kim said.
Additionally, the Principal Spectrum Preferred Securities Active ETF (PREF) provides exposure to current income through preferred securities.
"Preferreds have a lot of embedded sort of protection against rising rates, better duration exposure or lower duration," Kim added.
For more ETF-related commentary from Tom Lydon and other industry experts, visit ourvideo category.
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READ MORE AT ETFTRENDS.COM > || USD/JPY Fundamental Weekly Forecast – US GDP in Focus, Light Volume Expected Ahead of US Holiday Week-End: A bullish outlook for U.S. interest rates helped widen the spread between U.S. Government bonds and Japanese Government bonds, making the U.S. Dollar a more attractive investment. The Dollar/Yen was strong all week, following a technical reversal bottom on August 21. The Forex pair was helped by the hawkish Fed minutes. However, the Japanese Yen strengthened on Friday after Fed Chair Powell hinted that policymakers were nearing the end of its monetary policy tightening cycle.
For the week,USD/JPYsettled at 111.268, up 0.762 or +0.69%.
There were no major reports out of Japan last week, however, All Industries Activity fell 0.8%, Flash Manufacturing PMI came in at 52.5, close to the 52.4 estimate and National Core CPI came in slightly below expectations at 0.8%.
The dollar started the week under pressure with some of the selling being driven by dovish comments from FOMC member Raphael Bostic, who said on Monday that he believes that relatively tame inflation warrants only one more rate hike in 2018. Late in the session, a comment by President Trump spiked the market lower into the close.
Trump criticized Fed policy for the second time in a month on August 20 saying, “I’m not thrilled with his (Jerome Powell) raising rates, no. I’m not thrilled.” He went on to say that “We’re negotiating very powerfully and strongly with other nations. We’re going to win. But during this period of time I should be given some help by the Fed. The other countries are accommodated,” Trump said.
The U.S. Dollar recovered on Wednesday and Thursday after the minutes of its July 31 – August 1 FOMC meeting, revealed that the central bank plans to continue its gradual pace of rate increases. It further added that Fed officials are wary of tariffs hurting the current economic recovery but are waiting to see evidence of widespread damage in economic data.
The Dollar/Yen gave back some of its gains on Friday after a key speech by U.S. Federal Reserve Chairman Jerome Powell. In his widely expected speech before a group of major central bankers at the Jackson Hole, Wyoming symposium, Powell said he anticipates a slow and steady pace of rate hikes as the central bank looks to balance economic growth and curbing lofty asset prices.
Despite Powell’s generally upbeat commentary on the state of the economy, some U.S. Dollar investors pointed out that the central bank chief seemed content with where interest rates are. This suggested that the Fed was nearing neutrality, a state where the economy needs neither a rate hike nor additional stimulus.
In economic news, the Commerce Department said on Friday Core Capital Goods Orders rose 1.4 percent last month after an upwardly revised 0.9 percent increase in June. Economists were looking for a 0.4 percent increase in July after a previously reported 0.2 percent gain in June. Core capital goods orders increased 7.2 percent on a year-on-year basis.
Watch the volume this week. It’s expected to come in below average as the major players start to prepare for next Monday’s U.S. Labor Day holiday.
The major U.S. report is Wednesday’s Third Quarter Preliminary GDP. It is expected to come in at 4.0%, slightly below the previously reported 4.1%.
Minor U.S. reports include Conference Board Consumer Confidence, Core PCE Price Index, Personal Spending and Chicago PMI.
There are no major reports scheduled for Japan. Minor reports include BOJ Core CPI, Consumer Confidence, Retail Sales, Tokyo Core CPI, Unemployment Rate, Preliminary Industrial Production and Housing Starts.
Although U.S. GDP is called a major report, I tend to differ. In my opinion, the data is stale so I don’t expect to see much of a reaction to this number this week.
I think investors should pay more attention to the U.S. Core PCE Price Index on Thursday at 1230 GMT. This report is the Fed’s preferred inflation indicator. It is expected to come in at 0.2%, up from 0.1%. This will indicate another gradual rise in inflation.
Thisarticlewas originally posted on FX Empire
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• LT Yields Fall, Gold Spikes Higher as Powell Hints at Move Toward Neutral Rates || Bitcoin is Erasing 300 Years of Monetary Evolution: Nobel Economist Paul Krugman: Paul Krugman bitcoin cryptocurrency blockchain American economist Paul Krugman has taken another swing bitcoin, arguing that the prominent cryptocurrency, as well as its peers, represents a 300-year economic regression and will “likely” experience a “total collapse.” Writing in his regular New York Times column , Krugman — who has at various times published articles lambasting bitcoin as “ evil ” and “ the long cryptocon ” — lays out a case for why his continued skepticism towards cryptocurrency is justified. The Nobel Prize winner said that he has two main problems with cryptocurrency: its transaction costs and “lack of tethering” (an ironic term, given the controversy surrounding the cryptocurrency token of the same name). Bitcoin Taking Economics Back Three Centuries Krugman argues that, throughout history, money has gradually evolved toward frictionless transactions, culminating in the current monetary regime centered around credit and debit cards and other types of digital payment methods. Bitcoin, he says, represents a 300-year evolutionary regression because it reintroduces friction into the monetary ecosystem in the form of the costs associated with mining transactions and validating the blockchain history. He writes: “Set against this history [of money], the enthusiasm for cryptocurrencies seems very odd, because it goes exactly in the opposite of the long-run trend…In other words, cryptocurrency enthusiasts are effectively celebrating the use of cutting-edge technology to set the monetary system back 300 years. Why would you want to do that? What problem does it solve? I have yet to see a clear answer to that question.” While conceding that governments have “occasionally abused the privilege of creating fiat money,” Krugman says that the conventional central banking system has done its job “quite well,” providing users with low-friction transactions and stable purchasing power. Bitcoin — you can probably guess where this is going — is not useful as a medium of exchange or a store of value. Story continues Cryptocurrency Has No ‘Tether’ It is then that Krugman betrays his true problem with cryptocurrency if it is indeed digital cash and digital gold. People hold cash in large denominations, he claims, for one purpose: criminal activities including tax evasion. Bitcoin, he says, is constrained to the same use case. But while $100 bills may not be a useful medium of exchange for legitimate transactions — many stores do not accept them — Krugman says that they have one key advantage over bitcoin: their value is “tethered” to the value of smaller-denomination bills, which “have underlying value because men with guns say they do.” He continues: “Cryptocurrencies, by contrast, have no backstop, no tether to reality. Their value depends entirely on self-fulfilling expectations – which means that total collapse is a real possibility. If speculators were to have a collective moment of doubt, suddenly fearing that Bitcoins were worthless, well, Bitcoins would become worthless.” So will that collapse occur? Krugman, on his part, thinks that it will, though he says that it’s possible, if unlikely, that bitcoin could endure as a black market-asset. Featured Image from Commonwealth Club/ Flickr The post Bitcoin is Erasing 300 Years of Monetary Evolution: Nobel Economist Paul Krugman appeared first on CCN . || There’s Power in Preferred ETFs: This article was originally published onETFTrends.com.
Preferred stocks and the related exchange traded funds are high-yielding, income-generating assets. The downside is that such assets are often perceived to be vulnerable to rising interest rates, but the iShares S&P US Preferred Stock Fund (PFF) is higher by nearly 2.60% year-to-date.
Preferred stocks are a type of hybrid security that show bond- and equity-like characteristics. The shares are issued by financial institutions, utilities and telecom companies, among others. Within the securities hierarchy, preferreds are senior to common stocks but junior to corporate bonds. Additionally, preferred stocks issue dividends on a regular basis, but investors don’t usually enjoy capital appreciation on par with common shares.
Income investors have looked to preferred stock ETFs in their portfolios for a number of reason. For instance, the asset class offers stable dividends, does not come with taxes on qualified dividends for those that fall into the 15% tax bracket or lower, is senior to common stocks in the event liquidation occurs, is less volatile than bonds and provides dividend payments before common shareholders.
Preferred Perks
Preferred stocks and ETFs like PFF are suitable for long-term, income-minded investors.
“As part of a long-term growth portfolio, consider carving out a portion for high-income strategies. It might be worth suffering some price drawdowns while reinvesting any income received in the same income-producing investments,” said BlackRockin a recent note.
The $17.19 billion PFF, the largest preferred ETF by assets, targets the S&P U.S. Preferred Stock Index and holds over 300 preferred stocks. Following the global financial crisis, financial services firms were major issuers of preferred stock. That is reflected in PFF as over 59% of the fund's holdings are issued by banks or diversified financial firms.
“The iShares U.S. Preferred Stock ETF (PFF) provided a 30-day SEC yield of 5.4% as of July 31, and the lion’s share of its dividend distributions constitute lower-tax-rate qualified dividend income (QDI) – making it tax efficient,” according to BlackRock.
For more fixed income investment solutions, visit theFixed Income Channel.
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READ MORE AT ETFTRENDS.COM > || Bitcoin price live: Latest updates as cryptocurrency crash towards $6,000: Bitcoin fell to its lowest price of 2018 in June, having experienced its worst start to a year since the cryptocurrency was founded, however it is showing signs of recovery. The value of bitcoin rose more than twenty-fold in 2017, generating huge amounts of interest in cryptocurrencies like ethereum and bitcoin cash. After peaking at close to $20,000 in December, bitcoin's value fell to below $10,000 within a matter of weeks. This precipitated a market-wide crash other leading cryptocurrencies tumble. Its price is expected to continue to fluctuate unpredictably, and this live blog will be regularly updated with the latest news and significant changes. :: The Independents bitcoin group is the best place to follow the latest discussions and developments in cryptocurrency. Join for the latest on how people are making money and how theyre losing it. Please allow a moment for the live blog to load. After hitting a record high of more than $19,850 (£14,214) in mid-December, bitcoins value tumbled to $12,000 (£8,630) within days . It then surged again, before plummeting in mid-January amid reports that trading was about to be banned in several countries around the world. It then stabilised, before beginning a gradual price slide throughout February, March and early April. Weve teamed up with cryptocurrency trading platform eToro. Click here to get the latest Bitcoin rates and start trading. Remember that returns are not guaranteed, so you could get back less than you invested. || One Faulty $416 Million Trade On Bitcoin Puts Several OKEx Users on the Hook: UPDATE:This article has been updated to reflect the amount to be clawed back from counterparties.
Some users ofcryptocurrency exchange OKExcould be on the hook for millions in losses after a faulty bet from a single unnamed client.
On Tuesday, a futures trader amassed an “unusually” large futures stake worth about $416.9 million using both cash and leverage, betting on the rise of Bitcoin. But soon after, the value of the cryptocurrency fell below what the exchange considered safe, triggering OKEx’s automatic liquidation function on the user’s position. As a result, the trader was unable to repay the full extent of what he, she, or they had borrowed.
It’s well known that betting on margin is risky. And while OKEx appeared aware of that, it was unprepared for the magnitude of the loss. On Friday, OKEx revealed that it had added 2,500 Bitcoins, or $18.5 million worth, to its insurance fund. But that alone would not be enough to cover the shortfall.
As for the rest, the exchange plans to clawback from the position’s counterparties on the platform—or those who were set to make a winning from the unnamed client’s losses. It plans specifically to gather the funding from users who made a net profit across the contracts the unnamed client had bet on.
About 1,200 Bitcoins, worth $8.8 million as of Friday, were socialized among those who profited across those contracts. That represented a 17.7% clawback on for each of the traders.
“We will take a portion of the profit in equal percentage from all profited traders only to cover the difference between the liquidated price and settled price,” OKEx representativeswrote in a Friday post.
The Hong Kong-based exchange said the “unusually” large position was made on Tuesday, prompting OKEx to reach out to the client. They urged the user “several times” to lower the position in the hopes of reducing the risk to the overall market. But the user refused to comply. In response, OKEx froze the account shortly before the price of Bitcoin dropped, and the position automatically sold.
In response to the incident, OKEx said it would implement several new rules to prevent a reoccurrence. In one measure, the exchange plans to adopt a so-called scaling margin ratio, in which higher opening bids will require a higher down payment.
OKEx isn’t the only cryptocurrency firm that’s used this strategy of socializing losses. In August of 2016, Hong Kong-based exchange Bitfinex lost about $72 million in a cyberattack. It later decided to spread those losses out among users, while offering an “IOU” that it said was repaidas of early 2017. || Venezuela Nationalizes Petro, Will Introduce Crypto-Based Salary System for Workers: Venezuelan President Nicolas Maduro recently revealed that the nation’s oil-backed cryptocurrency, thepetro, will be used as a unit of account by the state oil company PDVSA. The government is also developing a new salary system that will allow employees to receive their wages in petro funds over fiat.
“As of next Monday, Venezuela will have a second accounting unit based on the price and value of the petro. It will be a second accounting unit of the republic and will begin operations as a mandatory accounting unit of our PDVSA oil industry,” Maduro announced.
Thepetro was introducedthrough a pre-sale back in February of 2018 as a means to attract foreign capital to boost the Venezuelan economy and circumvent both EU and U.S. sanctions. It was designed to shore up an economy in shambles, as the bolivar has been struck with rampant hyperinflation over the past year.
From the very beginning, the currency aroused controversy both in and out of Venezuela. Many in the National Assembly publicly claimed that the currency was potentially illegal and that itswhite paperlacked sufficient details or offered unscrupulous arguments for its creation. Concerns further arose in the U.S., which led toPresident Trump’s subsequentpetro-trading ban in March of 2018.
Some arguments in favor of the cryptocurrency state that the petro makes paying taxes and settlements with state bodies less expensive and that the currency can be easily — and quickly — converted into USD.
Regardless, cryptocurrency isoften viewedas an economically liberating tool in the everyday Venezuelan’s struggle to survive. Bitcoin Magazine recently chronicled the struggles of a Venezuelan resident under the alias Hector, whoreceived a donation of roughly0.5 nano. Though worth less than $2 in USD, the funds were the beginning of what would become a growing account for Hector, who later garnered approximately $950 worth of the cryptocurrency. He is now able to provide his family with food and other supplies once thought unobtainable on a regular basis.
“My dad gave me a huge hug because it was a relief for all of us,” he states. “We are five in our house; four of us are adults, and we work in different areas. Every month, when we get paid, our salaries weren’t enough to buy basic supplies or even food. We were almost running out of food some days ago. It was common for that to happen every six or seven days after getting paid.”
Venezuela’s national currency, the bolivar, ranks high on the “worthless” meter as of late. Maduro believes the new salary system will stabilize wages andoffer consumers stronger buyingpower, which could bear positive repercussions on the country’s ailing economy.
“By 2020, the nation will be able to recover economic and social stability and prosperity,” he announces. “We are building a new revolutionary and humanist economic thought with a new strategic economy for a new economic model. On August 20, a new era will begin. In real time, Venezuelans will know the price of the sovereign bolivar and the petro, made public by the central bank. Also, detailed explanations of the salary system and the prices based on the petro will be forthcoming on August 20. Speculation has ended!” he stated in a speech announcing the cryptocurrency.
This article originally appeared onBitcoin Magazine. || 3 Top Large-Cap Stocks to Buy Right Now: Large-cap stocks may lack the excitement of their smaller brethren, but they can still make for some of the best investments . That's particularly true if you identify top companies with strong competitive advantages, solid long-term prospects to continue growing, and great management -- and make sure they can be bought at a reasonable price. As a matter of fact, three Motley Fool contributors recently identified three large-cap stocks they think are worth buying right now: Boeing Co. (NYSE: BA) , Verizon Communications Inc. (NYSE: VZ) , and Nucor Corporation (NYSE: NUE) . These are three of the most dominant companies in their industries, enjoying benefits of scale, technological know-how, and strong balance sheets under the control of top-notch management. Stopwatch with time to buy replacing some of the numbers. Image source: Getty Images. Best of all, there is a clear path forward for years of earnings growth, despite their already-dominant size, and you don't have to pay a big premium, either. Boeing trades for a reasonable valuation, and there's an argument that Verizon and Nucor are downright cheap today. Keep reading for more insight on these three "buy now" large-cap stocks. One could be perfect for your portfolio. Still flying high Daniel Miller (Boeing Co.): Investors that missed Boeing's 227% rise over the past five years are probably wondering if they've missed their buying opportunity. BA Chart BA data by YCharts . Despite Boeing's recent rise in share price, there are still plenty of factors that bode well for the company and its investors going forward. One factor is Boeing's improving commercial airplanes segment operating margin which jumped to 11.4%, compared to the prior year's second-quarter 9% level. The driving force behind that improvement was the 787 Dreamliner's increased profitability. Boeing's Dreamliner program should receive another boost as it moves from producing 12 planes per month during 2018 to 14 per month in 2019. Story continues That leads us into another positive factor for long-term investors: Boeing's backlog. The 787 Dreamliner alone added 59 orders during the second quarter and has a total of 650 in the backlog, worth roughly four years of deliveries at 14 per month. Furthermore, Boeing's total order backlog sits at a staggering $488 billion in value, or roughly five years' worth of revenue. While Boeing is dealing with a constant risk of trade war, it otherwise looks well positioned to reward shareholders as management anticipates a need for 41,030 global commercial aircraft valued at roughly $6.1 trillion over the next two decades. If the company can keep improving its commercial airplane operating margin, finally get past nagging charges from its KC-46 program , and continue increasing its dividend for shareholders, there's still plenty to like about owning Boeing . A dividend stock you can rely on Travis Hoium (Verizon Communication Inc.): One great thing about investing in large-cap stocks is that they can dominate large, profitable, mature markets that aren't likely to be disrupted anytime soon. One such market is wireless communications, where Verizon Communications is the U.S. leader in both size and profitability. The company is part of an oligopoly in U.S. wireless, which consolidates power among four major carriers that have little incentive to compete too hard against one another. Verizon's position as a premium supplier in the oligopoly allows it to leverage its national network to attract and keep customers who value fast wireless speed and a large network. What I like about Verizon today isn't just its legacy business -- it's the growth potential of the 5G network that's being built today. 5G wireless speeds are 10 to 100 times faster than 4G networks and will enable new technologies like self-driving cars, smart cities, and connected virtual reality devices. Even before 5G hits smartphones, it will also allow Verizon to enter the home wireless market with 5G routers, replacing cable, DSL, and fiber competitors. Later this year, Verizon expects to launch a home 5G router that will allow homeowners to cut the cord for their home internet and get world class speed. These new offerings should lead to a new phase of growth for the company. VZ PE Ratio (Forward) Chart VZ PE Ratio (Forward) data by YCharts . Shares of Verizon trade at just 11.4 times forward earnings estimates and carry a 4.5% dividend yield, both great values for investors. If the 5G market grows to more than a handful of early markets in 2019, we could see this large-cap stock be a growth stock once again and that's why I think it's a great buy today. The best steelmaker keeps getting better Jason Hall (Nucor Corporation): The U.S. steel industry is certainly winning right now as tariffs drive imports down and prices up. Nucor, America's biggest and best-run steelmaker, should continue to lead the way, too. The company crushed it last quarter, delivering one of its best quarterly financial performances ever , beating management's own guidance by a fair margin and setting expectations that business is on track to remain very good in the near term. On the earnings call , CEO John Ferriola said that steel imports fell 7% in the first half of the year, and with more tariffs kicking in to start the second half, the trend should continue as foreign steel that's been propped up by illegal subsidies in its nation of origin are pushed out of the market. NUE EPS Diluted (TTM) Chart NUE EPS Diluted (TTM) data by YCharts . So long as demand for steel remains strong -- something that bears watching under higher prices -- Nucor will benefit from both higher prices, and increased capacity utilization at its facilities, and that could send profits up even higher in the quarters to come. At the same time, management continues to invest in growth, recently announcing multiple new projects that add more capacity and new capabilities at some of its steelmaking facilities. If Nucor can keep up the momentum, today's price looks attractive. Shares trade for 12.3 times trailing earnings, and if demand remains strong and pricing holds steady, those profits are on track to be much bigger a few years from now. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Daniel Miller has no position in any of the stocks mentioned. Jason Hall owns shares of Nucor. Travis Hoium owns shares of Verizon Communications. The Motley Fool recommends Nucor. The Motley Fool has a disclosure policy .
[Random Sample of Social Media Buzz (last 60 days)]
@India_Bitcoin || @Bitcoin_price_8 || @Bitcoin_Post || @BTC_INFOCHAIN || @lifeoncoin || @btc_reddit || @btc_current || @BTC_INFOCHAIN || @BTC_INFOCHAIN || @Bitcoin_Post
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Trend: up || Prices: 6321.20, 6351.80, 6517.31, 6512.71, 6543.20, 6517.18, 6281.20, 6371.30, 6398.54, 6519.67
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-03-17]
BTC Price: 420.62, BTC RSI: 53.95
Gold Price: 1264.50, Gold RSI: 61.46
Oil Price: 40.20, Oil RSI: 66.92
[Random Sample of News (last 60 days)]
Canada's TSX hires Bitcoin guru, studies currency's technology: By Ethan Lou
TORONTO (Reuters) - The Toronto Stock Exchange has hired a Bitcoin entrepreneur as its first chief digital officer as it explores the capabilities of blockchain, the technology behind the virtual currency, a senior executive at TSX parent TMX Group said on Thursday.
Anthony Di Iorio, who has founded several companies based on the technology, filled the role at Canada's largest stock exchange in January, Jean Desgagne, chief executive of TMX's Global Enterprise Services, said in an interview.
Stock exchanges are embracing blockchain, which allows Bitcoin users to conduct secure transactions without middlemen, as they seek to diversify and boost profit margins. When used to issue securities, the technology could potentially remove the need for clearing houses.
"Blockchain is a disruptive technology," Desgagne said, noting that major changes could result from its potential adoption. "We're focused on it, we're going to learn."
In January the Australian stock exchange said it had enlisted a blockchain startup to develop a new trade settlement system.
Nasdaq in the United States used the technology last year to issue securities to an unidentified private investor. Last month, Nasdaq said it was developing a blockchain-based shareholder voting system for its Estonian stock exchange.
Blockchain could make operations "better, faster, cheaper," Desgagne said, but noted that, if adopted, the technology would be only one element in TMX's digital operations.
Di Iorio and Desgagne declined to discuss details about potential blockchain projects at TSX.
Di Iorio is the founder of the Bitcoin Alliance of Canada and a co-founder of Ethereum, a blockchain-based computing platform.
(Reporting by Ethan Lou; Editing by Euan Rocha and Richard Chang) || 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 || Digatrade Executes Bitcoin Debit Card Development Contract: Digatrade Bitcoin Debit Card Set to Launch VANCOUVER, BC / ACCESSWIRE / February 25, 2016 / BITX FINANCIAL CORP ( BITXF ) and its 100% owned and operated digital asset-currency exchange DIGATRADE ( digatrade.com ) today announced the execution of a technology development agreement with ANX Technologies. Under terms of the agreement Digatrade will have a bitcoin debit card developed by ANX Technologies, one of the world's first financial technology companies to have developed a bitcoin debit card and one of the largest distributors of debit cards in the market offering customers as well as businesses a fast and reliable payment solution. The Digatrade debit card will provide a gateway between digital assets and traditional payments processing. The reloadable debit card can be used to make purchases in any retail, point-of-sale devices or withdraw cash from ATMs that support the global payment network. Digatrade customers will be able to add funds to their debit card via the Digatrade exchange platform and will empower digital assets to be accepted worldwide. More information will be made available as it materializes. ABOUT DIGATRADE: DIGATRADE is a global digital asset-currency exchange located in Vancouver, British Columbia, Canada. The Company is owned and operated 100% by Bit-X Financial Corp which is publically listed on the OTC.QB under the trading symbol BITXF. BITXF is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC". Digatrade has now become a global platform offering its customers instant card-based transactions worldwide. CORPORATE CONTACT INFORMATION: Brad Moynes, CEO Bit-X Financial Corp DigaTrade.com 838 West Hastings Street, Suite 300 Vancouver, BC V6C-0A6 Canada Tel: +1(604) 200-0071 Fax: +1(604) 200-0072 www.digatrade.com Media inquiries: [email protected] Forward-Looking Information This press release contains certain "forward-looking information". All statements, other than statements of historical fact, that address activities, events or development that the Company believes, expects or anticipates will or may occur in the future constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the company based on information currently available to the Company. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the possibility of unanticipated costs and expenses. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the company disclaims any intent or obligation to update any forward-looking information whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. SOURCE: Bit-X Financial Corp || 7 Signs Americas Super-Rich Are Finally Losing Power: With billionaire Donald Trump the Republican frontrunner, it may seem like the impact of the ultra-rich on our public life is reaching new heights. A self-proclaimed billionaire (Trump still hasnt released his tax records ), Trumps anti-establishment, anti-Wall Street, anti-free-trade rhetoric has him running as a traitor to his class, though. A loose affiliation of the super rich has been scheming to halt his rise most recently, Mitt Romney but so far, without any success. In fact, there are plenty of signs that plutocrats are losing their grip on the levers of power and influence. Yes, income inequality continues to rage . But plenty of people with ten-figure net worths simply arent getting the satisfaction to which they have become accustomed. We may have reached Peak Plutocrat. The phenomenon can best be seen in politics, where the kings of private enterprise are having a tough time playing kingmaker this time around. Bloomberg for President Remember that? If you blinked, you missed it. In late January, the former Mayor of New York Michael Bloomberg, proprietor of the eponymous company, whose fortune is estimated at $36 billion to $48 billion , briefly considered jumping into the race. Never mind that third-party candidacies dont do well in the U.S., or that Bloomberg's constituency (coastal rich people who are socially liberal) are generally in the Hillary Clinton camp already. The candidacy of Mike Bloomberg, the billionaire candidate beloved by billionaires (hedge fund giant Bill Ackman wrote a passionate pro-Mike op-ed in the Financial Times), failed to launch. And then there was Jeb! Former Florida Governor Jeb Bush blew through $100 million of the establishments money before bowing out. Stanley Druckenmiller, the retired hedge fund billionaire, is backing. . . . John Kasich. The dealmakers from 2012 In 2012, Sheldon Adelson, the Las Vegas casino magnate, played an immensely influential role in the Republican primary and general election. In 2016? Not so much. The Las Vegas Review Journal, the newspaper (!) Adelson recently purchased, has endorsed Marco Rubio , a victor in precisely one caucus. And Adelson has yet to put his card on the table. Story continues The Koch brothers feel disenfranchised For their part, the Koch brothers, who have used their billions to build a highly effective political operation that runs in parallel to the Republican party, are feeling disenfranchised. Far from adopting the Koch Brothers line on free trade, or immigration, the Republican field is running in the opposite direction. "You'd think we could have more influence," Charles Koch groused to the Financial Times . On March 3, Reuters reported the Koch brothers had decided not to use any of their war chest to fight Trumps candidacy. As Reuters notes, the brothers made the decision because they were concerned that spending millions of dollars attacking Trump would be money wasted , since they had not yet seen any attack on Trump stick. No longer minting money, either Billionaires are not doing so hot in the stock market, either. Bill Ackman, the proprietor of Pershing Square, shot the lights out in 2013 and 2014; Ackmans brand of dramatic activism and willingness to go all-in on high-profile stocks gave his fund a impressive returns. But last year , his main fund was off 20.5 percent, net of returns; its off more than 15 percent so far in 2016. Whoops! John Paulson, the hedge fund manger who shot to prominence on the backs of bearish bets on the housing market and was thus elevated into the market sage, is literally half the asset manager he used to be . As air comes out of the markets that Plutocrats rely on and love the stock market, yes, but also junk bonds, tech start-ups, natural resources their spending power and public influence are starting to deflate. (The egos, not so much.) Real estate values wane High-end real estate in London, which has functioned as a sort of safety deposit box for the globes ultra wealthy, is starting to fall . In Manhattan last year, the number of contracts signed on condos worth more than $10 million fell 16 percent, from 270 to 227. So if you're in the business of selling trophy properties to ultra-rich people, you may be struggling. Christie's reported that its sales of fine art were down 11 percent in 2015 and Sotheby's said that so far this quarter, sales are off 33 percent . TV, the lagging indicator Don't get me wrong. While signs are everywhere that their influence on our culture and economy are declining, the Plutocrats like the poor will always be with us. And they will often be unavoidable. One of the better new shows to debut this TV season is Showtime's Billions , featuring Damian Lewis as Bobby Axelrod, a Steve Cohen-esque hedge fund manager. Billions has been picked up for a second season. But even a show that humanizes and dramatizes plutocrats is a sign of their peak. When it comes to business trends, television shows are always an extremely lagging indicator. In the fall of 2000, the debut of a show about the bull market, The$treet, presaged the impending market crash. In October 2005, ABC aired Hot Properties, a sitcom starring Sofia Vergara about a group of realtors in California. The housing market began to crash the following year. See original article on Fortune.com More from Fortune.com The Crisis in Bitcoin and the Rise of Blockchain 3 Ways to Win Over Your Boss Here's Why China Laying Off 1.8 Million Workers Is Actually Good News Your Great Idea Will Fail Without This These Are the Super-Rich People Shaping China || How big banks are paying lip service to the blockchain: IBM has high hopes for blockchain technology. The IT giantannouncedon Tuesday a laundry list of plans to use blockchain tech and to help developers do the same. IBM (IBM) will offer tools through its cloud service for building blockchain apps, and it will open up IBM "Garages" in London, New York, Singapore and Tokyo for experts to collaborate with developers on blockchain tech.
Taken in tandem with the recent flurry of banks and financial institutions expressing public interest in blockchain, the technology is having a moment. In September, a slew of banks including BBVA, Citi, Credit Suisse, JPMorgan, Royal Bank of Scotland, and UBS all joined a coalition,led by a firm called R3, to implement blockchain technology in banking. In December, five more big names hopped on board, including BNP Paribas, ING, and Wells Fargo.
But the great irony of the banks' interest in blockchain is that the idea of a blockchain for traditional banking defeats the purpose of the blockchain—at least as it has been used thus far, with the digital currency bitcoin. And top executives from some of the very same institutions that have signed on to R3 have separately disparaged bitcoin.
To understand what it is that banks claim to want to do with blockchain, you first need to understand the bitcoin blockchain, which is a public, decentralized ledger that records every single bitcoin transaction. Think of it like a library card in the cloud (not the card you use to take out a book, but the slip inside a book that lists all the borrowers). If you send a friend $5 worth of bitcoin, the transaction goes on the blockchain. If one bitcoin startup acquires another bitcoin startup for $500,000 in bitcoin, that, too, goes on the blockchain. And you can view the blockchain in real time, as transactions are uploaded, atblockchain.info. Transactions are added in bundles, called "blocks," by "miners," who receive a tiny fee in bitcoin as an incentive to mine. Miners use large, expensive computers to find and mine the blocks.
The excitement of the bitcoin blockchain, to people in the digital currency world, is the potential for decentralized applications to be built on top of it that cut out the middle man. And the blockchain can be used to store and send anything of value, so there are companies using it to store documents like property deeds and even marriage licenses.
And now: Enter the banks. They've long stayed away from bitcoin, which has a toxic public image thanks to headlines about bitcoin being used in embezzlement and Ponzi schemes. (Think of Mt. Gox andSilk Road.) MasterCard CEO Ajay Bangasaidhe believes bitcoin "starts bumping up against societal rules, which I worry about," and that, "it doesn’t give me the safety and security of knowing that I am who I am, and I’m paying who I know, which is what traditional currency does." And yet, MasterCard (MA) invested in Digital Currency Group, a venture firm that has itself invested in 65 different bitcoin and blockchain-enabled businesses. JPMorgan CEO Jamie Dimonsaidbitcoin "is going nowhere... There is nothing behind a bitcoin, and I think if it was big, the governments would stop it." And yet, JPMorgan (JPM) has signed on with R3.
Forget bitcoin, embrace blockchainBitcoin is doomed, if you ask Dimon. But the blockchain—nowthat'sexciting. As Dimonsaidon CNBC last month, "The blockchain is a technology, which we’ve been studying... and yes, it’s real. If it proves to be cheap and secure it will be adopted for a whole bunch of stuff."
Translation: Blockchain is hot, bitcoin is not. We are seeing this sentiment again and again. IBM, in its extensive press release this week about its blockchain efforts, does not use the word "bitcoin" once. Bitreserve, a cloud banking vault launched by CNET founder Halsey Minor and led byformer Barclays CIO Anthony Watson, was so eager to shed the stink of bitcoin that it changed its name to Uphold. Blockchain "is so hot right now,"writes Erik Voorhees, the CEO of bitcoin startup Shapeshift, while bitcoin "has been left by the wayside, ignored like an embarrassing relative at a family gathering.” (And yet the price of bitcoin is up 24% in the last six months, 85% in the last six.)
What will using blockchain tech even look like for banks? R3's web site says its mission is "building and empowering the next generation of global financial services technology." That's pretty vague. David Rutter, CEO of R3 and a former executive at London-based electronic brokerage ICAP, has said R3 will help banks and financial firms use the "fabric" of blockchain technology.
You might think that people in the bitcoin world are pleased to see big, incumbent financial institutions embracing the underlying technology behind the leading cryptocurrency. They are not. Most of them see the banks' stated interest as empty lip service so far.
What most people believe the banks want to do is employ somethinglikethe blockchain in their record-keeping processes: record customer deposits and withdrawals on a blockchain as opposed to whatever (likely outdated) software they currently use. Sounds simple enough. But it would have to be a closed ledger, accessible only to customers of the banks. And therein lies the contradiction: the bitcoin blockchain is public and open-sourced; nothing about it is closed.
"Ican see why banks are interested in using permissioned ledgers, and maybe it will make their back office more efficient," says Jerry Brito, executive director of digital currency nonprofit Coin Center. "But at the end of the day, it's not a very exciting innovation. The real innovation is a completely open and global ledger that is permission-less. Having a closed, permissioned ledger run by banks, that might allow for better auditing, but there’s no innovation there, you still have to go through a consortium to use the ledger." That is, what banks seem to want to do is incongruous to the purpose of the blockchain.
Digital Currency Group's Barry Silbert, who founded SecondMarket, which allowed for the trading of stocks in non-public companies, is similarly dubious of the "blockchain for banking" theme. "I’ve spoken quite publicly about my skepticism around the private blockchain approach," he tells Yahoo Finance.
If R3 doesn't yield innovative fruit, then why are banks rushing to join up? For starters, as a PR effort: once a few were involved, the others looked stodgy by delaying. But Brito also believes the interest will subside once banks actually learn more about blockchain technology. "I think right now investors are kind of waiting for Wall Street to get through this blockchain phase," he says. "They have blockchain fever and they need to just get over it. Because if they develop their own closed blockchains,soon they’ll all realize they want to talk to each other, and they’ll be back to square one, doing banking."
The bitcoin blockchain is open, global and permissionless. It has potential to serve as the backbone for additional exciting applications. If traditional banks want to employ it in their way, by acting as gatekeepers, it defeats the purpose. But don't expect that to dampen their public expressions of interest just yet.
This is the first in a three-part Yahoo Finance series about blockchain technology. Thesecond partis about how you can invest in the blockchain; thethird partis about the biggest names in the industry.
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Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more:
Bitcoin advocacy group scores funding from biggest names in industry
Bitcoin industry consolidates: Why Kraken bought Coinsetter
Bitcoin's biggest investor bought its biggest news site
Here's a sign that PayPal is embracing Bitcoin || BofA, Wells Fargo & JPMorgan to Roll Out Cardless ATMs?: Individuals may soon be able to use their smart phones to withdraw cash from ATMs. According to Reuters, which cited technology website TechCrunch, banking majors Bank of America Corp. BAC and Wells Fargo & Company WFC are working to integrate Apple Inc.s AAPL Apple Pay, a mobile payment system, into their ATM network, thereby eliminating the use of plastic cards. Betty Riess, a press representative for BofA, confirmed that the company is presently developing a new cardless ATM solution, which is expected to be available in selected ATMs in Silicon Valley, San Francisco, Charlotte, New York and Boston by the end of this month. Moreover, the facility will likely be available to a larger customer base by the end of 2016. Wells Fargo, which currently supports Googles Android Pay, is considering alternative wallets for its customers. Similar to BofA, Wells Fargo is expected to offer the facility initially at limited ATMs, and expand the same to a broader network by the end of 2016. The ATMs will incorporate near-field communication or NFC technology, which will allow customers to carry out their ATM transactions through smart phone-generated PIN codes. Notably, ATM users will be able required to log in to the respective mobile wallets, and then tap their smart phones to the machines NFC point in order to confirm the transaction. Currently, half of BofAs 16,100 ATMs are already NFC-equipped. Wells Fargo, on the other hand, intends to install NFC readers in at least one-third of its total 13,000 ATMs by the end of 2016. Apart from BofA and Wells Fargo, JPMorgan Chase & Co. JPM is also headed toward rolling out cardless ATMs in 2016. At present, the company is working on a code-based system that will generate a temporary password to facilitate the transaction through its mobile banking application. Notably, such a feature prevents pass codes from being misused or stolen. This apart, BofA and JPMorgan intend to incorporate additional features like pre-setting ATM transactions, which will not only help customers save time, but also lower security concerns owing to shorter duration. Why this Change? We believe higher dependence on smart phones will help banks capitalize on the growing number of active mobile users. During fourth-quarter 2015, the active mobile user headcount at BofA and JPMorgan surged 8% and 13% year over year, respectively. At Wells Fargo, the annual tally increased 14% from 2014. Further, the strategy is in line with the industry-wide focus on right-sizing retail network to curb expenses, as well as enhance customer experience. More importantly, smart phones offer better security compared with desktops and laptops, given their relatively higher protection layers. Bottom Line In this era of digitalization, customers appetite for mobile banking encourages banks to provide sophisticated mobile banking services. Moreover, since traditional methods are gradually taking a backseat, the financial institutions are making consistent efforts to attract and retain clients by offering better digital experience amid a competitive environment. Apart from smart phones, banks are also known to have shown 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. Recently, JPMorgan partnered with start-up firm Digital Asset Holdings to launch a trial project that utilizes the blockchain technology. According to Financial Times, the technology will likely aid in resolving liquidity mismatches in some of the companys loan funds. Moreover, it is expected to lower cost and complexities related to trading. Notably, in Dec 2015, The Goldman Sachs Group, Inc. filed a patent application with the US Patent & Trademark Office (USPTO) Cryptographic Currency For Securities Settlement for a new cryptocurrency called SETLcoin. 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 WELLS FARGO-NEW (WFC): Free Stock Analysis Report BANK OF AMER CP (BAC): Free Stock Analysis Report APPLE INC (AAPL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || A bunch of hedge fund managers are chasing the 'dream of crushing a major structural problem': (Thomson Reuters)William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks during the Sohn Investment Conference in New YorkFinance Insider is Business Insider's midday summary of the top stories of the past 24 hours.
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Wall Street already has a trade of the year.
Everyone from Bill Ackman to David Tepper to Kyle Bass is betting against the Chinese yuan.The shorts seem to be everywhere.
"Clearly a bunch of smart guys are chasing the [John] Paulson 2008 dream of crushing a major structural problem in the market," said Tim Seymour of Triogem Management.
In bank news,Goldman Sachs CEO Lloyd Blankfein today made his firstTV appearance after 600 hours of chemotherapy. He said he can easily explain what's going on in the equity market right now.The rest of the market, not so much.
The bank just announced a big shake-up,with lots of people moving role.Most notably,Jim Esposito, who was cohead of the global-financing group, will join the securities division as chief strategy officer.To read about him,click here.To read about what his appointment means,click here.
In other news, an18-year-old tennis player once sponsored by billionaire hedge fund manager Bill Ackmanpulled off a pretty impressive trick shot to win a pointintheRBC Tennis Championships of Dallas.
AndUber will let you ordera puppy squad to your office.
Here are the top Wall Street headlines at midday:
We just got terrible news about the most important part of the US economy-The services sector is slowing down.
A kid in Bill Gross' high school nicknamed 'God of Thunder' eventually fell on hard times-Bill Gross had a big kid in his high school class.
Chipotle's disastrous 2015 explained in one chart-Fewer customers see it as a healthy food option. Ouch.
OLIVER WYMAN: It will take 10 years for the tech behind bitcoin to break big in finance-Blockchain database technology, which underpins digital cryptocurrencies such as Bitcoin, has got finance industry executives very excited.
Pack your bags, Wall Streeters: Your jobs are moving to Nashville- UBS has a plan to move about 2,500 jobs to low-cost locations such as Poland, India, China, and Nashville, Tennessee, over the next year. Yes, Nashville.
A Bill Gates-backed startup that wants to edit your genes just raised nearly $100 million-Editas became the first company to price an initial public offering in the US in 2016.
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• WHAT YOU NEED TO KNOW ON WALL STREET: The Steph Curry effect || 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) || University of California Berkeley notifies 80,000 of cyber attack: SAN FRANCISCO (Reuters) - Officials at the University of California Berkeley said on Friday that they were alerting 80,000 people, including current and former students, faculty and vendors of a cyber attack on a system that stores social security and bank account numbers.
The news comes just more than a week after a Southern California hospital paid hackers $17,000 in the digital currency Bitcoin to regain control of their computer systems after a so-called "ransomware" attack.
The San Francisco Bay Area university said there was no evidence that attackers actually took any personal information, but that it was still alerting the 80,000 individuals to be on the lookout for misuse of their information.
The school said a hacker or hackers gained access to its financial management software in late December due to a security flaw present when the system is updating. Officials have notified law enforcement, including the FBI, and hired a private computer investigation company.
The university said among the potentially affected are 57,000 current and former students; about 18,800 former and current employees; and 10,300 vendors who work with the school. Those figures come out to about half of the school's current students and two-thirds of its active employees.
Large, high-profile organizations and businesses routinely come under cyber attack, and the school said it frequently identifies similar hacking attempts.
"The security and privacy of the personal information provided to the university is of great importance to us," Paul Rivers, UC Berkeley's chief information security officer, said in a statement. "We regret that this occurred and have taken additional measures to better safeguard that information."
The school said it was providing credit protection service free of charge to those potentially impacted.
(Reporting by Curtis Skinner in San Francisco; Editing by Sharon Bernstein) || Is Oil Driving The Stock Market? And Should Traders Care?: Recent headlines imply that the slump in the oil market caused the January drop in global stocks. They also point to oil rallies as the reason for stock rallies. But is the relationship causation or just correlation? Should we say one happened “and” or “because” the other one did? Early in the Wednesday US trading session, crude oil futures dropped by nearly a dollar a barrel and the S&P 500 quickly moved in lockstep, dropping over 40 points in the same hour. The larger downward trend of Monday and Tuesday in oil was also mirrored in the stock market. Crude oil’s drop was a full 11%, the largest percentage drop since March 2009. However, the drop in stocks over those two days was not nearly as dramatic. On Wednesday, the markets diverged in the morning. Crude had a brief selloff when the weekly EIA Petroleum Status Report came out, but then it bounced and an hour later WTI crude oil futures (Nadex: Crude Oil) had pushed above $31 a barrel and come within 20 cents of $32. Stocks only came along for half of that ride. The S&P 500 (Nadex: US500) dropped 40 points, but only regained half of that loss. While oil was rising to two-day highs, stocks hovered near Tuesday’s lows. Clearly the exuberance among crude oil traders had not inspired similar optimism among stock index futures traders or investors as a whole. Later in the day stocks did rally, but at the day’s close, crude oil was up over 8% and equity indexes were unchanged. Clearly stock traders were not taking their cues from the bullishness of oil traders. In fact, it’s hard to say what crude oil traders were using to guide their decisions on Wednesday. Why were oil traders so bullish following a fairly downbeat EIA report? You’d have to do some mental gymnastics to come up with a direct reason. The record supply glut set a new record, with global oil inventories rising to over half a billion barrels and driving up gasoline inventories as well. Foreign output remains high, with Iran now adding more of its stockpiles and production to the world market. And with large inventories and weak demand, refineries are cutting back production. Story continues The weak demand comes despite the low prices. Demand for gasoline is off 0.9% year on year, despite gas prices being down 25% from this time in 2015. Demand for heating oil and distillates is down a full 16%, thanks to a warm winter and weak industrial demand. That perception of industrial weakness got further proof with Monday’s weak ISM Manufacturing Index report, the fourth weak report in a row and the worst streak of manufacturing numbers since 2009. And despite that substantial negative report, the bulls had the day in crude oil. And even though stocks ended flat, some analysts will say that crude oil’s rally had a delayed effect on stocks and caused the afternoon rally. When crude oil’s price action doesn’t even seem to have a logical connection to the latest supply and demand report, is it reasonable to think that stock traders are tying their decisions to such an emotional and unpredictable market? Stock traders aren’t showing much consistency in their reactions to the news, themselves. The recent earnings reports were overall positive among S&P 500 companies, indicating that US businesses continue to be profitable. Yet some are pointing to earnings per share as a problem sign. A report from Goldman Sachs even said that profit margins are too high and if they don’t go down and revert to the mean, they believe it raises questions about “the efficacy of capitalism” itself. It is a time when short-term traders who simply watch price movement tend to have an advantage. On Nadex, binary option and spread traders can trade the ups and downs without speculating on the whys and wherefores. Sometimes that is best left to the analysts. For traders, explaining the move isn’t nearly as important as trading it. This information has been prepared by Nadex, a trading name of North American Derivatives Exchange, Inc., prepared by independent third parties contracted by Nadex or reproduced form third party news agencies. In addition to the disclaimer below, the material on this page does not contain an offer of, or solicitation for, a transaction in any financial instrument. Nadex accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. See more from Benzinga New Ways To Trade China, Crude Oil And The Fed Bitcoin Is Thriving As Stock Markets Dive The Simple Reason This Market Drop Makes Sense © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
KathrynKolasa : The easiest way to get Bitcoin - http://ift.tt/1KOvXQt || Current price: 366.88€ $BTCEUR $btc #bitcoin 2016-03-12 20:00:08 CET || Liquid Bitcoin || My robot has 700 hp left! I've earned a total of 157,370 free satoshis from http://www.robotcoingame.com/?id=3016902 #robotcoingame #Bitcoin || #TrinityCoin #TTY $ 0.000008 (1.52 %) 0.00000002 BTC (-0.00 %) || LIVE: Profit = $362.21 (4.43 %). BUY B19.81 @ $420.00 (#VirCurex). SELL @ $426.18 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || Look out, @Bitcoin and #Blockchain. Global Regulators Are Now Eying #Fintech . via @FortuneMagazine http://for.tn/1TFE4X3?xid=for_tw_sh … || Current price: 312.86£ $BTCGBP $btc #bitcoin 2016-02-29 19:00:30 GMT || Liquid Bitcoin || #BitCoin #LiteCoin Bitcoin Taxis to Soon Become a Norm around the World - newsBTC http://ow.ly/3bQoW5
|
Trend: up || Prices: 409.55, 410.44, 413.76, 413.31, 418.09, 418.04, 416.39, 417.18, 417.95, 426.77
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on 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 2019-01-25]
BTC Price: 3599.77, BTC RSI: 43.39
Gold Price: 1297.40, Gold RSI: 65.14
Oil Price: 53.69, Oil RSI: 59.16
[Random Sample of News (last 60 days)]
Bitcoin up 10 percent, on course for its biggest daily rise since April: LONDON (Reuters) - Bitcoin rallied 10 percent on Wednesday to more than $4,100, putting it on course for its biggest daily rise since mid-April as it pulled itself out of a recent slump.
The world's biggest and best-known cryptocurrency hit a daily high of $4,157, its strongest in four days on the Bitstamp exchange. Other cryptocurrencies also rose.
Bitcoin has lost more than a third of its value in the last two weeks amid heavy selling pressure.
(Reporting by Tommy Reggiori Wilkes; Editing by Saikat Chatterjee) || Bank of England Measures Preferred Transaction Methods: Crypto Leads: It’s the festive season again; that time of the year where love is celebrated through the acts of giving. However, for some people, the concept of presenting gifts might be a little too complex to understand. These people don’t believe in sending gifts to their loved ones, they rather send money or gift cards that can be used to make purchases online. This has become incredibly easy in the past few years. If you receive money as a gift at Christmas, what’s your favourite way to get it? How will we use money in years to come? Join the #FutureForumBoE discussion at https://t.co/EKRXyJZp9d — Bank of England (@bankofengland) December 17, 2018 Earlier this week, the Bank of England (BoE) published a poll on Twitter , asking its followers on their preferred means of receiving money gifts at Christmas. The poll reads: If you receive money as a gift this Christmas, what’s your favorite way to get it? There were a number of options that users could choose from in the poll including Cash, Bank transfer, Gift voucher, Digital currency. At press time, digital currency is leading the poll with 70%. Although it seems like a simple way to get a conversation going, this tweet could also have a lot of hidden meaning to it. UK’s financial regulators are yet to develop a definitive stand on cryptocurrencies, leading to speculation that the tweet is a clandestine way through which the BoE is looking to measure public interest in cryptocurrencies, which is quite logical now that the market downturn has stripped the major digital currencies off their value. While the BoE sits on the fence, its leadership has been making significant moves to regulate the sector and integrate blockchain into its system. Mark Carney, Governor of the BoE, noted in a panel that even though, plans aren’t imminent, and cryptocurrencies don’t currently perform the role of money in the British economy, he remains open to the prospect of a Central Bank-issued digital currency. The statement of the Governor might not be a glowing endorsement, but it is a far cry from his previous dismissal of Bitcoin, where he stated that it has failed as both a primary currency and as a store of value. The bank also executed an overhaul of its settlement system, allowing both traditional private systems and those based on the distributed ledger to interface with the bank’s network. Carney had noted at the time: Story continues “RTGS is being re-built so that new private payment systems, including those using a distributed ledger, can simply plug into our system. Our new, hard infrastructure will be future-proofed to your imaginations, opening up a range of potential innovations in wholesale markets, and corporate banking and retail services.” Featured image from Shutterstock. The post Bank of England Measures Preferred Transaction Methods: Crypto Leads appeared first on CCN . View comments || Hemp! Hemp! Hooray! Congress Passes the Farm Bill: As we near the finish line for 2018, one thing is for certain: It's been a game-changing year for the cannabis industry. In October, following nine decades of prohibition, Canada officially legalized recreational marijuana for adults. Although it's going to take a few years for Canadian growers to get fully up to speed, as well as allow Health Canada time to approve new cultivation licenses and sales permits, this is an industry that could generate in the neighborhood of $5 billion in annual sales by the early part of the next decade. This was also a year that saw continued expansion in the United States , where marijuana is still a Schedule I drug -- i.e., wholly illegal, prone to abuse, and not recognized as having any medical benefits -- at the federal level. During midterm elections, residents in Utah and Missouri voted in favor of statewide medical cannabis initiatives, bringing the total number of states to have legalized in some capacity to 32. Meanwhile, Vermont and Michigan became the respective 9th and 10th states during the year to OK adult-use weed. And the breakthroughs just keep on coming. A researcher in a white lab coat making notes on a clipboard in the middle of a hemp farm. Image source: Getty Images. The Farm Bill is a signature away from becoming law On Tuesday, the Senate voted overwhelmingly (87 to 13) to approve the $867 billion Farm Bill, followed by a landslide vote on Wednesday by the House (369 to 47). This is a bill designed to expand farm subsidies and provide permanent funding for farmers' markets and local food programs. Perhaps more important to the investment community and the cannabis movement, it would also legalize products made from hemp and cannabidiol (CBD) from the hemp plant. Cannabidiol is the nonpsychoactive cannabinoid best known for its perceived medical benefits. Unlike tetrahydrocannabinol (THC), it does not get the user high. Hemp itself has many industrial uses. It can be refined and used in paper, clothing, plastics, paint, insulation, and even animal feed. It's also a plant that tends to be rich in CBD production with minimal THC content. This makes it a perfect alternative for CBD production as opposed to extracting CBD from the cannabis plant. According to an analysis from the Brightfield Group, the CBD market is expected to grow by 147% per annum, from $591 million in 2018 to an estimated $22 billion by 2022 . Story continues In addition to legalizing the production of hemp and easing access to CBD, it would also free up hemp-based business to more freely deal with banks. As a reminder, financial institutions have mostly kept their distance from any businesses involved with THC or CBD, since they're both tightly regulated by the federal government. With the passage of the Farm Bill in both houses of Congress, it'll now make its way to President Trump's desk for his approval and signature. Trump has already expressed support for the bill, suggesting that passage of the Farm Bill is simply a formality at this point. Four vials of cannabidiol oil lined up on a countertop. Image source: Getty Images. These marijuana stocks could get a lift from the Farm Bill So, what pot stocks would receive a boost from the passage of the Farm Bill? To start with, how about Canada's largest marijuana stock by market cap, Canopy Growth (NYSE: CGC) . Investors might overlook the fact that Canopy Growth is in the midst of a roughly 425 million-Canadian-dollar takeover of ebbu , a Colorado-based hemp research company. Ebbu's intellectual property (IP) is expected to help lower costs and improve yields and quality at Canopy's hemp-growing operations in Saskatchewan. However, Canopy Growth also purchased Ebbu with the idea being that it could get its foot in the door in the United States, as well as set itself up for success should a broad-based hemp bill pass in Congress. With the Farm Bill looking very likely to be signed into law, Canopy Growth will hold key IP that could support a rapidly growing U.S.-based hemp industry. Cannabinoid-based drugmakers could receive a lift, too. GW Pharmaceuticals (NASDAQ: GWPH) became the first drugmaker to receive an approval from the U.S. Food and Drug Administration for a cannabis-derived therapy this June. GW Pharmaceuticals' lead drug Epidiolex ran circles around the placebo in multiple late-stage studies designed to reduce seizure frequency in patients with two rare types of childhood-onset epilepsy. Already bearing the least restrictive scheduling (Schedule V) possible, GW Pharmaceuticals' Epidiolex could be received well with the passage of the Farm Bill. I'd also opine that an indirect boost might be felt by Charlotte's Web Holdings (NASDAQOTH: CWBHF) , a provider of CBD-based products in more than 3,000 retailers across the country. Whereas GW Pharmaceuticals can claim a medical benefit for its products, Charlotte's Web cannot. Nevertheless, that hasn't stopped consumers from gobbling up CBD-based products in greater numbers, with Charlotte's Web recording $17.7 million in sales in its most recent quarter, as well as an operating profit of about $4 million , if one-time benefit and loss adjustments are excluded. A large cannabis dispensary sign that reads, in large white block letters, "Marijuana." Image source: Getty Images. This marijuana industry may not appreciate the Farm Bill as much On the other hand, the Farm Bill may turn out to be partially unwelcome for cannabis dispensaries like MedMen Enterprises (NASDAQOTH: MMNFF) . You see, dispensaries like MedMen have to go through a rigorous process to be licensed in the states they operate in. In return, MedMen and its dispensary peers gain the exclusivity of carrying and selling legalized cannabis products. If hemp-derived CBD is legalized, it would presumably open the door for a wide swath of retailers to carry hemp-based CBD products should they choose. These CBD products are high margin, and they're an excellent lure to bring in foot traffic and introduce new consumers to the world of legalized cannabis. In other words, the Farm Bill may introduce MedMen and U.S.-based pot dispensaries to an unwelcome amount of competition that could slow both foot traffic and operating margins. Now we simply watch and wait for President Trump's signature. 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 Williams 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 . || Winklevoss Twins: Bitcoin Needs Regulation so Investors Don’t Get Burned: The crypto market hasn’t fully recovered from the effects of 2018’s “crypto winter,” with the Bitcoin pricedipping below the $3,500mark on Sunday before making a minorrecovery. However, Cameron and Tyler Winklevoss, co-founders of crypto exchange Gemini, are sticking with their optimistic outlook for the market.
Speaking inan interviewwith Fortune, the Winklevoss twins spoke on their opinion concerning the entire cryptocurrency industry. Their insights included comparisons of Bitcoin to gold. They also shared a validation of the increasing usage ofstabelcoinsin the crypto industry.
The interview comes just a week after the brothers launched a massive advertising campaign that raised eyebrows in the community.
Last week, bus stops, taxi tops, buses and much more all over New York begancarrying Gemini ads.Messages such as “Crypto Needs Rules” and “The Future of Money” were displayed, adding to an outcry forcrypto regulation. Reactions included conversations on the state of crypto regulations and the prospect of moderating the sector without hindering its growth.
Concerning the demand for regulation, Tyler Winklevoss said:
The idea is that companies that build on top of things like Bitcoin should have a regulation that’s thoughtful and that doesn’t stifle innovation[…] People believe in the dream of crypto. They just don’t know how to engage in it without getting burned. We’re here to say Gemini’s a place you can do that.
Tyler stressed that dollar-pegged stablecoins such as Gemini’sGUSD, which are supposed to be less volatile than non-fiat collateralized digital assets like Bitcoin, could be used to issue dividends for tokenized securities. Cameron pointed out that 60% of $100 bills are held overseas. He believes stablecoins can simplify the international flow of reserve currencies like the dollar.
He claimed that stablecoins such as the Gemini Dollar act as “dollars on the blockchain” and can be used for various functions including payments for crypto services.
The conversation also touched on Bitcoin’s “digital gold” debate. Cameron claimed that the divisibility and fungibility of the largest cryptocurrency mean that it will overtake gold as a store of value in the future. Summarily, he said, “The only thing gold has over Bitcoin is a 3000-year head start.”
The brothers’ assessment of Bitcoin follows the sentiment shared by Lou Kerner, partner and strategist at Crypto Oracle. In an interview last December, Kerner stated that Bitcoin, which has a $62 billion market cap, is on its way to becoming an evenbetter store of valuethan gold.
Cameron and Tyler Winklevoss Image from TechCrunch/Flickr
The postWinklevoss Twins: Bitcoin Needs Regulation so Investors Don’t Get Burnedappeared first onCCN. || UK watchdog lays out oversight of cryptocurrencies: By Huw Jones and Tom Wilson LONDON (Reuters) - Britain's markets watchdog set out which aspects of the nascent cryptocurrency industry it regulates on Wednesday, as volatile digital assets come under greater scrutiny. The Financial Conduct Authority (FCA) also said it would consult later this year on a proposed ban on selling derivatives linked to certain cryptocurrencies to retail customers. Such products are increasingly harmful globally, the FCA said. Cryptocurrencies rocketed in value in 2017 but fell heavily last year. Bitcoin, the original and biggest, fell by nearly three-quarters in 2018, triggering warnings from regulators across the world worried about consumer protection, financial stability and illicit usage. Policymakers are now working out how, if at all, cryptocurrencies come under existing financial rules, and whether fresh regulation is needed. Regulatory approaches have varied heavily, from China's outright banning of cryptocurrency trading to Japan's system of licensing crypto exchanges. The FCA is aiming to create suitable rules for Britain while following global trends, its executive director of strategy and competition, Christopher Woolard, told Reuters. "It's about running a twin track, getting the right answer for the UK, but moving in concert with international colleagues," said Woolard. The FCA's guidance categorizes different types of so-called crypto assets to say whether they fall under its regulatory net. Firms must then obtain a license from the FCA if they engage in activities that fall within that net. The watchdog's guidance looked at assets including "security tokens," which resemble shares or debt, and "utility tokens", which allow access to products or services without giving holders any rights. While the FCA says UK-headquartered exchanges account for around 1 percent of daily global trade, London's status as a financial hub has attracted major crypto firms. Regulatory moves by Britain are therefore closely watched. CryptoUK, an industry body, said in a statement that policymakers should balance their consumer protection role with a framework that helps the sector expand and attract investment. The FCA will hold a public consultation on the guidance. It also said the government would publish a consultation paper in early 2019 on whether to change the law to broaden the watchdog's remit to include further types of cryptocurrencies. Lawyers and consultants involved in the industry broadly welcomed the FCA's move. "We here in the UK - given that we are a large financial services sector - need to have clarity in order to be able to enable people to invest," said KPMG's Anton Ruddenklau, who advises large corporations and entrepreneurs involved in the crypto sector. (Reporting by Huw Jones and Tom Wilson; Editing by Mark Potter and Elaine Hardcastle) || EUR/USD Forex Technical Analysis – Strengthens Over 1.1447, Breakouts Over 1.1501: The Euro finished higher against the U.S. Dollar on Friday as a decline in U.S. Treasury yields continued to make the greenback a less-attractive investment. Additionally, the dollar has been pressured in recent weeks by rising expectations that the Federal Reserve will pause its tightening cycle sooner than expected, or risk extinguishing the strength in the U.S. economy with further interest rate hikes. On Friday, the EUR/USD settled at 1.1442, up 0.0009 or +-.08%. Daily EUR/USD Daily Swing Chart Technical Analysis The main trend is up according to the daily swing chart. A trade through 1.1486 will signal a resumption of the uptrend. This should drive the EUR/USD into the November 7 main top at 1.1501. Last week, a new secondary higher bottom was formed at 1.1343. This is a sign that the buying is strengthening. A trade through this bottom will change the main trend to down. The major long-term retracement zone is 1.1447 to 1.1185. The market has been trading inside this zone for nearly two months. Clearly, this zone is controlling the longer-term direction of the EUR/USD. The main range is 1.1501 to 1.1216. Its retracement zone at 1.1392 to 1.1359 is controlling the short-term direction of the EUR/USD. This zone is new support. Daily Swing Chart Technical Forecast Based on Friday’s price action and the close at 1.1442, the direction of the EUR/USD on Monday is likely to be determined by trader reaction to the major 50% level at 1.1447. Bullish Scenario A sustained move over 1.1447 will indicate the presence of buyers. If this can create enough upside momentum then look for the rally to possibly extend into the main top at 1.1486, followed by the next main top at 1.1501. The EUR/USD should run higher once 1.1501 is taken out. Bearish Scenario A sustained move under 1.1447 will signal the presence of sellers. The daily chart indicates that if this move can pick up any traction, we could see a pullback into 1.1392. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Price Update – Needs to Hold $44.68 Pivot to Generate Any Upside Momentum Stock Market Rollercoaster Ride Ends with Higher Weekly Close Natural Gas Price Futures (NG) Technical Analysis – Strengthens Over $3.384, Weakens Under $3.109 Bitcoin – Bulls Fight Back, but Can They Hold on? E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Trader Reaction to 6358.75 Should Determine Direction into Close AUD/USD Forex Technical Analysis – Daily Chart Strengthens Over .7078, Weakens Under .7016 || Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, Tron, Bitcoin SV, Cardano: Price Analysis, Jan. 23: 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 theHitBTCexchange.
Adena Friedman, president and CEO of Nasdaq Inc., believes that cryptocurrencies will have an important role to play in thefuture, if they can integrate into the economy and find greater practical utility. Clarity on regulations and governance can provide the necessary boost to the nascent asset class.
One country that could be at the forefront of retail adoption of cryptocurrencies is Japan. Currently, most transactions in Japan involvepaper billsand metal coins, however, the nation is attempting a shift towards a cashless society.
The top banks in Japan are working on the development of blockchain-based payment networks that can be operational in time for the Summer Olympics in Tokyo by 2020. If successful, the third largest economy of the world could bring about a change that will force other economies around the world to take notice.
Several smaller countries are also trying to gain leadership in this space. Georgia has migrated most of itsland registryto blockchain and the tax system might soon follow.
The country also subsidizes local crypto companies via various means, such as discounted electricity rates, tax-free zones and land at nominal prices. Georgia hopes to beat the other crypto-friendly nations like Malta and Bermuda and become an international leader in crypto.
While the fundamental factors are improving by the day, the price is not following suit. However, a Bloomberg analyst expects Bitcoin (BTC) to rally in the short term, based on astudyof technical indicators. What does our study forecast? Let’s find out.
The volatility in Bitcoin (BTC) has shrunk over the past few days. This period of low volatility will eventually lead to a range expansion. The longer the time spent in a tight range, the stronger will be the breakout or breakdown from it.
It is difficult to predict the direction of the break. During the previous period of low volatility from mid-September to mid-November 2018, the attempt to break out on Oct. 15 failed. After that, theBTC/USDpair broke down on Nov. 14, resulting in a quick drop from $6,480.54 to $3,620.26 within a short span of time.
The important resistance to watch on the upside is the downtrend line, and above it the $4,255 mark. A break out of these levels will signal a probable trend reversal.
On the other hand, a breakdown of $3,236.09 will resume the downtrend. The next support on the downside is the psychological level of $3,000. We shall wait for an upside range expansion before recommending a long position.
Ripple (XRP) bounced from the area of $0.30550 on Jan. 22. This shows demand at lower levels. However, the failure of the bulls to break above the downtrend line and the moving averages means that buying dries up at higher levels. The down-sloping moving averages and the RSI below the 50 level suggest that supply exceeds demand.
The balance might tilt in favor of the bulls if theXRP/USDpair sustains above the moving averages. That would increase the possibility of a rally to $0.4. Based on that, we suggest long positions on a close above $0.336, with a stop loss of $0.305.
Conversely, if the price turns down from the downtrend line and breaks below $0.305, a drop to $0.27795 will be likely.
Ethereum (ETH) dipped below the support of $116.3 again on Jan. 22, but the bears could not capitalize on the breakdown. They could not force the price to the next lower support of $100. This shows that there is buying at lower levels.
Now, if theETH/USDpair breaks out of the moving averages and scales above $134.5, it will indicate strength. If the price doesn’t drop below $116.3 again within the next couple of days, we might suggest long positions with an allocation of about 30 percent of the usual size. The remaining positions can be added once the price is above $134.5.
On the other hand, if the cryptocurrency fails to rise above the moving averages, the bears will again attempt to break the support at $116.3 on a closing (UTC time frame) basis.
The bulls haven’t been able to push Bitcoin Cash (BCH) above $141 since breaking down of it on Jan. 10. On the downside, $121 has been acting as a strong support. Though the bears had broken below this level during intraday trading, they haven’t been able to close (UTC time frame) below this support in the past few days.
We expect the bulls to attempt to break above $141. If they are successful, theBCH/USDpair can rise to $177.3, and above it to $239. We might suggest a long position above $141. Until then, we remain neutral on the coin.
If the bears defend $141, the cryptocurrency will remain stuck in the tight range of $120–$141.
EOSbounced off the support at $2.3093 on Jan. 22, but the bulls haven’t been able to push the price above $2.5840.
If the price breaks out of $2.5840, theEOS/USDpair can rally to the next overhead resistance at $3.2081. We might suggest a long position if the price sustains above $2.5840.
However, if the bulls fail to scale $2.5840, the cryptocurrency might extend its stay in the tight range of $2.3093–$2.5840. A breakdown of $2.1733 will open the door for a decline to $1.7746, and below it to $1.55. We couldn’t find a tradeable setup at the current level.
Stellar (XLM) has gradually declined close to the yearly low of $0.09285498. Both moving averages are sloping down, and the RSI is in the negative territory, which shows that the sellers are in command.
If the bears sink the price to new yearly lows, the downtrend will resume. However, if the bulls defend the support at $0.09285498, theXLM/USDpair might bounce to the downtrend line. A break out of this overhead resistance can result in a consolidation between $0.09285498 and $0.13427050.
As the short-term trend is down, we shall wait for a trend reversal before recommending a trade.
Litecoin (LTC) has been trading between $29.349 and $33 since Jan. 12. Both moving averages are flat, and the RSI is close to 50 levels. This suggests a balance between the buyers and the sellers.
The next directional move will start on a breakout or breakdown of this tight range. A breakdown could result in a drop to $27.701, and below it to $23.090.
On the other hand, a breakout can carry theLTC/USDpair to $36.428 and above it to $40.784. Therefore, we suggest traders protect their long positions with a stop loss of $27.5.
Though Tron (TRX) has been consolidating inside the range of $0.0183–$0.02815521; the uptrending moving averages point to a probable break out of this range.
If theTRX/USDpair breaks out and closes (UTC time frame) above $0.02815521, it can rally to $0.03801042, and after that to $0.04. Therefore, we suggest long positions on a close (UTC time frame) above $0.02815521, with a stop loss at $0.023.
Conversely, if the bulls fail to scale above $0.02815521, the cryptocurrency will continue to trade inside the range. In such a situation, we shall wait for the price to correct to $0.0183 before suggesting a trade.
Though Bitcoin SV (BSV) slipped below $74.022 during intraday trading on Jan. 19 and Jan. 22, the close (UTC time frame) was above that level. We believe a close (UTC time frame) below $72 can plunge the pair to $65.031, and beyond that to $57.
The price is below both the moving averages and the 20-day EMA is sloping down. The RSI is also in the negative zone. All these indicators suggest that the sellers have the upper hand.
TheBSV/USDpair will show signs of strength if the price sustains above the 50-day SMA. We shall wait for the range to expand to the upside before recommending any trades.
Cardano (ADA) bounced off the 50-day SMA on Jan. 22, but the bulls are struggling to push it above the 20-day EMA.
Both moving averages are flat, and the RSI is at the midpoint. This points to a consolidation in the near term. TheADA/USDpair might remain stuck between $0.040055 and $0.048331 for the next few days. It will turn negative if it slumps below $0.036815.
We shall wait for a reliable buy setup to form before suggesting a trade.
The market data is provided by theHitBTCexchange. The charts for the analysis are provided byTradingView.
• Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, TRON, Bitcoin SV, Cardano: Price Analysis, Jan. 21
• Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, Tron, Bitcoin SV, Cardano: Price Analysis, Jan. 16
• Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, Tron, Bitcoin SV, Cardano: Price Analysis, Jan. 14
• Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, TRON, Bitcoin SV, Cardano: Price Analysis, Jan. 18 || Despite Slump in Crypto Prices, Bitcoin ATMs More Than Doubled in 2018: Despite the market downturn in digital asset values, cryptocurrency automated teller machines (ATMs) are still in vogue. According toa tweetfrom cryptocurrency analytics firm DataLight, the number of crypto ATMs doubled in 2018 from 2,025 ATMs in2017to 4,051 ATMs, signaling an increase in the adoption of cryptocurrencies in general, despite the slump in price.
November will go down as a month investors won’t forget in a hurry, as bitcoin, along with the rest of the cryptocurrency market, experienced a massive slump in prices. Bitcoin, the dominant cryptocurrency, fell to $3,750 in November, as the market witnessed massive selloffs that would have bitcoin touch nearly $3,000 in December.
Data from Coin ATM Radarshows that while 68 bitcoin ATMs were closed in November, 209 new machines were also installed by operators all across the world. Bitcoin of America led the way, introducing 16 new ATMs, followed closely by CoinFlip Bitcoin ATMs and Localcoin, who installed 10 and 7 new ATMs, respectively.
While the U.S. remains the dominant country with 70 new installations, Peru, Albania and South Korea had their first bitcoin ATMs installed in November, the data from Coin ATM Radar revealed.
Bitcoin ATMs have also been a target of criminals. Security researchers at Trend Microdiscoveredmalware that targets a service vulnerability in bitcoin ATMs, selling for $25,000, in an underground forum.
A senior researcher at Trend Micro, Fernando Mercês, commented on the vulnerability in his report, criticizing bitcoin ATMs for their lack of security standards, which make them easy to hack.
“Unlike regular ATMs, there is no single set of verification or security standards for Bitcoin ATMs. For example, instead of requiring an ATM, credit, or debit card for transactions, a Bitcoin ATM involves the use of mobile numbers and ID cards for user identity verification.”
They might not be as secure as traditional ATMs, but they are still finding meaningful uses cases across the world.
While providing an easy avenue to trade bitcoin, these crypto ATMs have also created a channel for pot companies that are experiencing banking restrictions.
Bitcoin ATMs have made it easier for pot companies to receive payments from customers, thereby reducing their dependencies on cash. Cannabis cryptocurrencyPotCoinalso partnered with bitcoin ATM providerGENERAL BYTES (GB), making use of GB’s network of crypto ATMs to ease the transaction process for cannabis vendors.
Virtual Crypto Technologiesalso developed a proprietary crypto payment solution for cannabis dispensaries that enables them to exchange pot for bitcoin using a QR code placed on the shop’s point-of-sale interface.
This article originally appeared onBitcoin Magazine. || Bitcoin on Track for Weekly Jump of 20% in Widespread Crypto-Christmas Rally: Investing.com - Cryptocurrency prices continued to climb on Friday as investors who appeared to shun U.S. equities took interest in digital assets forming a crypto-Christmas rally that stock holders could envy. Bitcoin rose 0.3% to $4,028.80 on the Investing.com Index as of 9:53 AM ET (14:53 GMT), pushing its gains during the last seven days to a stellar 25%. Ethereum, or Ether, increased 5.7% to $114.83, chalking up about a 36% increase since last Friday and Litecoin was at $31.86, up 2.0%, or while XRP advanced 0.6% to $0.37261, pocketing a seven-day rise of 25%. Digital coins had fallen dramatically in prior weeks as traders worried about increased regulatory scrutiny and volatility, but appeared to be making a strong comeback this week. Total coin market capitalization had soared to $134.3 billion at the time of writing, compared to $104 billion on Sunday. No specific driver was cited as the cause of the recovery although speculation remained that increased scrutiny in the U.S. might eventually lead to the Securities and Exchange Commissions approval of a Bitcoin ETF. Thursday saw news that two crypto firms - CoinVantage, formerly a subsidiary of accounting firm MG Stover, and Picks & Shovels - were merging in an effort to facilitate crypto-asset management for institutional players. Even with this weeks gains, cryptocurrencies remain deep in bear market territory for 2018. As an example, Bitcoin, the number one digital asset by market cap, is down 70% from its 2017 closing price of $13,800, to say nothing of the plunge from its all-time high near $20,000. Related Articles Tiny Artwork Sold in Micro Crypto Auction for Lowest Bid of 1 Millisatoshi Irish Red Cross Partners on Blockchain-Powered App to Bring Transparency to Donations USD Coin (USDC) Second Attestation Report Confirms $181.1M Reserves || Russian Economic Minister Says BTC Is ‘Soap Bubble’ But Lauds Crypto’s Influence on Tech: The Minister of Economic Development ofRussiareferred toBitcoin(BTC) as a “soap bubble” that has has led to investors’ losses, Russian informational agencyRBKreported Nov. 28.
Minister Maksim Oreshkin, speaking in an interview with RBK, noted how the the cost of Bitcoin (BTC) has decreased dramatically, referencing the coin’srise to $20,000in December 2017:
“When Bitcoin's price jumped up to $20,000, and now it is lower than $4,000, we said very simple things: Bitcoin itself is a soap bubble, it deflated, that's what happened”
However, Oreshkin also said that despite a fair number of losses among investors, cryptocurrencies “gave a positive impetus" to tech innovation. The Minister noted that many investment projects have been created within the industry of new technologies, such asblockchain, which is good for business.
Earlier this month, the chairman of the Russian State Duma Committee on Financial Market said that the country was considering issuing astate-backedstablecointhat would be a complete equivalent to the Russianfiatruble “in a digital space,” as CointelegraphreportedNov. 8.
Back this summer, Paul Krugman, a Nobel Prize winning economist, expressed some “scepticism” about cryptocurrencies, adding that “total collapse is a real possibility,” CointelegraphwroteJul. 31.
Cryptocurrency legislation in Russia stillremains unclear, as the government’s main bill, “On Digital Financial Assets,” has been postponed several times since January 2018.
• Nigeria’s Union Bank Reportedly Warns Against Crypto Transactions
• First Blockchain Smartphones Appear on the Market: Sirin Labs' Finney Unboxed
• Russia: Sberbank and Interros Group Conclude Blockchain-Based Foreign Exchange Repo Deal
• Russian Crypto Bill Draft Pushed Back to First Reading for Significant Edits
[Random Sample of Social Media Buzz (last 60 days)]
Mark Kelly, the London-based compliance expert in the financial industry, is joining @coinbase as the Head of Compliance for the UK region..
https://www.btcwires.com/c-buzz/mark-kelly-to-join-coinbase-as-uk-head-of-compliance/ …
#Crypto #cryptoexchange #cryptotrading #Coinbase #compliance || I saw this bitcoin crash as coming no matter what happens in the outside world, and have been thinking about it like that.... now I am thinking of the possible correlation. Quite true the timing is impeccable and hard to refute. || The attack (1/2):
- I put 1 BTC into a funding tx with Alice.
- We make a commitment tx paying me 1 BTC and Alice 0.
- We broadcast the funding tx that has my input, but then Alice malleates the tx. || RussiaはBakkt営業を心待ちにしていると思う
2月にロシアでは関係法制度が可決され政府のBitcoin購入をスケジュールに織り込めるようになるはずだが、その前提はアメリカの機関投資家がまず参入する必要があるはず。
ロシアとは要するに巨大なベネズエラ
庶民はBTCを大量に買っている || #BTC
Buy at #Kraken and sell at #LiveCoin. Ratio: 1.00%
Buy at #KuCoin and sell at #HitBTC. Ratio: 2.71%
#bitcoin #arbitrage #arbitraj #arbingtool
http://arbing.info || SELL BTC:3392.5 0.00% -77.95 || 大きく下がるのは10月からかもね！#ビットコイン || Bitcoin is a set of rules, not just a store of value. Currency is only the first app. || Buy bitcoin || Primeiro dApp de seguro open source para Ethereum!
@etherisc
#DIP #ETH #BTC #blockchainhttps://twitter.com/etherisc/status/1088481378289831936 …
|
Trend: down || Prices: 3602.46, 3583.97, 3470.45, 3448.12, 3486.18, 3457.79, 3487.95, 3521.06, 3464.01, 3459.15
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2020-11-06]
BTC Price: 15565.88, BTC RSI: 84.43
Gold Price: 1950.30, Gold RSI: 61.08
Oil Price: 37.14, Oil RSI: 42.84
[Random Sample of News (last 60 days)]
TFI International Acquires CCC Transportation and Related Real Estate: U.S. Bulk Carrier Acquisition Further Strengthens TFI’s U.S. Specialized Truckload Operations
MONTREAL, Sept. 09, 2020 (GLOBE NEWSWIRE) -- TFI International Inc. (NYSE and TSX: TFII), a North American leader in the transportation and logistics industry, today announced the acquisition of substantially all the assets of CCC Transportation (“CCC”) and related real estate and equipment. Primarily a bulk carrier, CCC was previously a subsidiary of Comcar Industries, Inc., which along with its other subsidiaries filed Chapter 11 petitions in the U.S. Bankruptcy Court on May 17, 2020. TFI International, which paid a total consideration of U.S. $6.8 million for CCC, its associated real estate and additional equipment, had purchased both CT Transportation and MCT Transportation as part of the same bankruptcy proceeding, as previously announced.
Founded in 1953 and headquartered in Auburndale, FL, CCC is a leading truckload carrier in the Southeast U.S. and one of Florida's largest intrastate motor carriers, offering cement hauling services primarily in Georgia and Florida, as well as dry van, intermodal, dedicated fleets, logistics and retail direct delivery. CCC has approximately 80 drivers operating nearly 100 tractors and more than 80 trailers, and generates approximately U.S. $10 million in annual revenue. As part of the transaction, TFI also acquired real estate and more than 90 additional trailers. CCC Transportation will become part of TFI International’s Truckload segment.
“We welcome the CCC team to the TFI family of companies and are pleased to strategically bring onboard several additional attractive assets of Comcar, following our earlier acquisitions of CT and MCT assets,” stated Alain Bédard, Chairman, President and Chief Executive Officer of TFI International. “CCC fits nicely with our existing BTC southern cement business and represents another important addition to our expanding specialized Truckload operations.”
ABOUT TFI INTERNATIONALTFI International Inc. is a North American leader in the transportation and logistics industry, operating across the United States, Canada and Mexico through its subsidiaries. TFI International creates value for shareholders by identifying strategic acquisitions and managing a growing network of wholly-owned operating subsidiaries. Under the TFI International umbrella, companies benefit from financial and operational resources to build their businesses and increase their efficiency. TFI International companies service the following segments:
• Package and Courier;
• Less-Than-Truckload;
• Truckload;
• Logistics.
TFI International Inc. is publicly traded on the New York Stock Exchange and the Toronto Stock Exchange under the symbol TFII. For more information, visitwww.tfiintl.com.
For further information:Alain BédardChairman, President and CEOTFI International [email protected] || DMG’s subsidiary Blockseer Launches Bitcoin Mining Pool Focused on Good Governance, Auditability and OFAC Compliance: VANCOUVER, British Columbia, Oct. 29, 2020 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF:OTC US) (FRANKFURT:6AX) (“DMG” or the “Company”), a diversified blockchain and technology company, is pleased to announce the launch of a new North America-based Bitcoin mining pool from its USA subsidiary company Blockseer.
Highlights:
• Blockseer’s new Bitcoin mining pool will be North America’s first bitcoin mining pool that will not only meet, but exceed the US Government’s Office of Foreign Assets Control (OFAC) compliance for BTC addresses, as well as providing the utmost level of transparency, auditability and corporate governance.
• Blockseer’s pool may further decentralize the bitcoin blockchain, readjusting the balance of hash rate to North America, where more Bitcoin nodes operate.
• Blockseer’s pool integrates DMG’s existing proprietary crypto forensics data, including Walletscore, to ensure that transaction blocks are OFAC compliant, as well as other risk factors that Walletscore tracks and manages
• Blockseer’s pool is integrated into DMG’s core technology platform, bringing all of DMG’s mine manager features into the pool, and providing an integrated User Experience for our customers.
Crypto-mining pools are the software protocols by which all miners connect to the various blockchains. Bitcoin mining pools generate revenue by charging fees to miners, usually between 1% to 3% of the total bitcoin mined. Miners contribute their hash rate to the pools and receive bitcoin rewards proportional to the total hash rate they contribute.
Over the past two years, DMG has worked with various accounting and legal firms as technical experts to investigate and test data from various mining pools, as there is currently no requirement for private pools to meet any data or reporting standards. Blockseer’s pool is focused on meeting such standards so that users can be assured that proper governance is in place for reliable data reported in a transparent way with third party independent verification.
All users of Blockseer’s pool are required to pass KYC (Know Your Customer) protocols, and blocks posted to the Bitcoin blockchain by Blockseer’s pool will only contain filtered transactions using Blockseer and Walletscore’s labeling data, along with verified sources such as the United States OFAC blacklist for crypto. Blockseer’s data analytics platform has been used by various law enforcement agencies over the past six years, providing Blockseer’s new pool with credible data relating to fraud, theft, money laundering and various other nefarious dealings which will be filtered out of any block that this pool will post to the Bitcoin blockchain.. Blockseer has a US patent pending novel approach to transaction filtering which examines transactions to and from bitcoin wallets which will exclude high risk wallets from being included in Blockseer’s posted blocks.
DMG’s CTO Adrian Glover commented “I am very proud of the work of our development team over the past year, to build and launch Blockseer’s pool platform. We built the pool on the technology platform that drives our mine management platform, thus creating a unified user experience for our customers, and enabling us to quickly add features to both products. In the near-term future, we will be providing audit ready reports and irrefutable proof of our customers’ mining revenue, directly from our user interface. For DMG, the launch of the pool is only the beginning, our team will continue to work hard on adding all of the revenue, cost tracking and projection information that miners look for. Following the same philosophy which we used in building our mine management platform, we built the pool we wished our vendors had provided for us.”
DMG’s COO Sheldon Bennett added, “I have personally led the forensic practice at DMG and have worked on multiple audits of publicly listed mining companies. We recognized early on the need for a mining pool that provided data that meets the needs of financial audits. However, it is not just public companies who need better transparency in pools, but any company or individual that sees the value in higher corporate governance through independent assurance of mining pool operations, fees and data. Blockseer’s pool brings a new compliance-focused standard to the industry, not only in the data the pool provides to its users, but also in the Bitcoin blocks it mines on the network. The pool is focused on being devoid of transaction from known nefarious wallets which use this medium in ways that continue to sully the reputation of crypto currencies, specifically Bitcoin, in the mainstream as well as to impede widespread adoption. Blockseer’s pool will be the first of its kind focused on governance, transparency and building Bitcoin blocks on the network, which are not primarily focused on transaction fees first but on sound transaction data and history.”
Blockseer’s pool platform is currently in private beta, with a public beta coming shortly. For those who are interested in signing up for the public beta, please go tohttps://dmgblockchain.com/contactto initiate the KYC process.
About DMG Blockchain Solutions Inc.
DMG is a diversified cryptocurrency and blockchain platform company which is focused on the two primary opportunities in the sector – mining public blockchains and applying permissioned blockchain technology. DMG focuses on mining bitcoin, providing hosting services for industrial mining clients, earning revenues from block rewards and transaction fees, developing data analytics and forensic software products, working with auditors, law firms, and law enforcement to provide technical expertise. DMG’s permissioned blockchain technology is focused on developing enterprise software for the supply chain management of controlled products. DMG’s strategy is to become the domain experts across the business verticals it focuses on. DMG’s management team includes seasoned crypto experts, forensic & financial professionals and blockchain developers with deep relationships throughout the industry, with previous experience working at Bitfury, PwC, EY, Cisco and UBS.
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.
Daniel ReitzikEmail:[email protected]:www.dmgblockchain.com
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information based on current expectations. Statements about the Company’s plans to launch and commercialize the Blockseer Pool, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information. DMG’s American subsidiary Blockseer intends to get companies to join its Pool and the results of its efforts will not be know immediately. Statements about the Blockseer’s plans to increase pool users, pool hashrate, pool revenue, plans and intentions, other potential transactions, acquisition of customers, product development, events, courses of action, and the potential of Bloclseer’s technology and operations, among others, are all forward-looking information. (and that is a specific forward looking statement to add).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, consumer sentiment towards DMG’s products, services and blockchain technology generally, failure to develop new and innovative products, litigation, increase in operating costs, increase in equipment and labor costs, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by third parties in respect of the matters discussed above.
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. || Bitcoin Closes on $12K but a Wall of Sell Orders Awaits: Analyst: Bitcoin is on the rise toward $12,000 but may face a stiff challenge to cross the price hurdle. The leading cryptocurrency by market value is currently trading near $11,900, a 1.2% gain on the day. Prices broke out of a descending triangle on Monday, confirming a resumption of the rally from Oct. 8 lows near $10,500 and opening the doors for the psychological hurdle of $12,000. I expect bitcoin to reach $12,000, Patrick Heusser, senior cryptocurrency trader at Zurich-based Crypto Broker AG, told CoinDesk, noted in his analysis early Tuesday. Crypto analyst Lark Davis believes bitcoin is now positioned for a notable rally. However, a number of big sell orders positioned around $12,000 may make it harder for the bulls to engineer a quick move above $12,000. The supply wall is still looming at around $12,000. We are seeing roughly 1,000 BTC sitting on offer [sell orders] on Coinbase up to $12,000 (Bitfinex, Binance, and Coinbase together have roughly $4,000 BTC on offer up to $12,000), Heusser noted . That said, the underlying sentiment looks quite bullish if bitcoin can push past these offers. The cryptocurrency has seen a steady price increase from $10,000 to $11,800 over the past five weeks despite negative news like the BitMEX charges , KuCoin's hack , the OKEx key drama , President Donald Trumps health scare and a stock market sell-off. Further, the likes of the European Central Bank and the Reserve Bank of Australia are expected to ramp up monetary stimulus over the next two months a long-term positive development for the perceived store of value assets like bitcoin and gold. Traditional markets are also pricing in additional inflation-boosting U.S. fiscal stimulus. Open interest in bitcoin futures listed on the Chicago Mercantile Exchange, considered synonymous with institutional interest, jumped by over 20% to a seven-week high of $624 million on Monday, according to data source Skew. A rise in open interest along with a rise in price is often said to confirm an uptrend. Story continues Open interest rose sharply from $364 million to $948 million in the four weeks to Aug. 17. During that period, bitcoin rose from $9,100 to levels above $12,400. A break above the immediate resistance at $12,000 would shift the focus to the August high of $12,476. If we move below $11,200, I will start worrying about my long position and will reduce it, Heusser said . Disclosure: The author holds small positions in bitcoin and litecoin . Also read: Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps Related Stories Bitcoin Closes on $12K but a Wall of Sell Orders Awaits: Analyst Bitcoin Closes on $12K but a Wall of Sell Orders Awaits: Analyst Bitcoin Closes on $12K but a Wall of Sell Orders Awaits: Analyst Bitcoin Closes on $12K but a Wall of Sell Orders Awaits: Analyst || BitMEX operator plans to fight U.S. government charges, says spokesperson: HDR Global Trading Limited, the parent company of crypto derivatives exchange BitMEX and one of the defendants named in Thursday's Commodity Futures Trading Commission (CFTC) civil lawsuit, has vowed to the fight the charges, according to a new statement. A spokesperson for HDR told The Block in a statement: "We strongly disagree with the U.S. governments heavy-handed decision to bring these charges, and intend to defend the allegations vigorously. From our early days as a start-up, we have always sought to comply with applicable U.S. laws, as those laws were understood at the time and based on available guidance." As The Block reported Thursday, both the CFTC and the U.S. Department of Justice via the Southern District of New York filed charges against the owner-operators of BitMEX, including co-founder and CEO Arthur Hayes. The DOJ charged Hayes along with co-founders Samuel Reed and Ben Delo, as well as business development chief Greg Dwyer of violating the U.S. Bank Secrecy Act. When it announced the criminal charges, the DOJ said that Reed had been arrested in Massachusetts. Separately, the CFTC accused BitMEX, its co-founders and a string of named businesses with a series of violations, including the failure to enforce anti-money laundering and know-your-customer rules. Following the publication of this story, attorneys for Dwyer provided a comment to The Block. Dwyer is being represented by Sean Hecker and Jenna Dabbs, partners for Kaplan Hecker & Fink. They told The Block: "We are surprised and dismayed by todays action. Our client, Greg Dwyer, who complied fully with the CFTC investigation and was never so much as invited to speak with prosecutors in the United States Attorneys Office in Manhattan, always worked in good faith to comply with all applicable regulations and requirements, and helped BitMEX establish an international business that operated with the highest integrity. We will strongly contest these charges." Story continues Posts on social media indicate that BitMEX is responding to the news in another way: processing withdrawal requests outside the hours it normally does. According to BitMEX's frequently-asked-questions page, "[t]he cutoff time for Bitcoin withdrawals is 13:00 UTC. Shortly after that, Bitcoin will be sent to the address you specified." 13:00 UTC is 9 a.m. EST. However, users of the service report that a fresh batch of withdrawals have been processed. The HDR spokesperson declined to comment further when reached. In a blog post , BitMEX reiterated that it planned to fight the U.S. charges: "We strongly disagree with the U.S. governments heavy-handed decision to bring these charges, and intend to defend the allegations vigorously. From our early days as a start-up, we have always sought to comply with applicable U.S. laws, as those laws were understood at the time and based on available guidance." BitMEX also confirmed that it conducted an "off-cycle" withdrawal process for pending requests. "In the meantime, the BitMEX platform is operating entirely as normal and all funds are safe. To allay any potential customer concerns, pending withdrawal requests were processed at 17:45 UTC, in line with our standard procedures. We will process another off-cycle withdrawal at 08:00 UTC, 02 Oct 2020, and then 13:00 UTC, as usual," the firm said. Editor's Note: This report has been updated with additional information. © 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. || CoinAgenda Global Announces First Virtual Conference for Bitcoin & Cryptocurrency Investors and Entrepreneurs: Industry leaders including Ethereum co-founder Anthony Di Iorio, serial entrepreneur Erik Voorhees, investor and founder William Quigley, and Atari CEO Fred Chesnais will discuss latest investment trends, including DeFi, NFTs, dapps, DEXs, and the current bitcoin bull market LAS VEGAS, Oct. 23, 2020 (GLOBE NEWSWIRE) -- ( via Blockchain Wire ) - CoinAgenda ( www.coinagenda.com ), the premier global conference series for connecting investors, traders, family offices and digital currency funds with top entrepreneurs in blockchain and cryptocurrency since 2014, today announced its initial line of speakers for this year’s CoinAgenda Global conference, being held virtually on October 28-29, 2020. CoinAgenda will span two days, with the first day consisting of up to 30 companies (a mix of Angel and VC investments and tokens trading on exchanges) pitching in a demo day environment. On day two, CoinAgenda’s main sessions will feature fireside chats with four prominent industry leaders: Erik Voorhees, CEO and founder of ShapeShift; Ethereum co-founder and Decentral founder/CEO Anthony Di Iorio; William Quigley, Managing Director at Magnetic and co-founder of WAX.io; and Fred Chesnais, CEO at Atari. Panels will focus on legal, regulatory and jurisdictional issues involved with starting and investing in blockchain companies as well as the rise of DeFi and investing in non-fungible tokens (NFTs). The event will include open and private virtual networking sessions. Other confirmed speakers include: Douglas Horn, Whitepaper Author and Chief Architect at Telos Piers Ridyard, Chief Executive Officer at Radix Enzo Villani, CEO and Chief Investment Officer at Alpha Sigma Capital Irina Litchfield, Founding Advisor at ABE Global John Hargrave, CEO at Media Shower and co-author with Evan Karnoupakis for newly launched book “Blockchain Success Stories” Min Kim, Founder at ICON Project Olga Feldmeier, CEO at Smartvalor.com Scott Purcell, Founder & CEO at Prime Trust Zachary Kelman, Managing Partner at Kelman Law PLLC Alex Mashinsky, CEO of Celsius.Network Tim Frost, CEO of YIELD App Bill Barhydt, Founder of Abra Josh Lawler, Partner at Zuber Lawler Jordan French, Executive Editor at Grit Daily News Ricky Dodds, Strategy and Communication Lead at ICON Foundation Lionel Iruke, Managing Partner at Empire Global Partners Malcolm Tan, Founder at Gravitas International Warren Whitlock, CEO at Stirling Corp Joel Comm, Co Host of The Bad Crypto Podcast Manny Alicandro, Partner at DeLucia, Mlynar & Alicandro LLP James Gillingham, CEO at Finxflo Dirk Lueth, Co-founder of Uplandme, Inc. Story continues CoinAgenda tickets are currently on sale. To register or for sponsor inquiries, visit www.coinagenda.com . ABOUT COINAGENDA CoinAgenda is the premier global conference series for connecting blockchain and cryptocurrency investors with startups since 2014. CoinAgenda has held conferences in North America, Europe, and Asia, with its global conference happening each October in Las Vegas. CoinAgenda’s startup competition winners include Aeternity, Bancor, Cashbet, Omega One, SALT Lending, and Qtum. These companies have collectively raised more than $500 million with a combined market cap of $10 billion. CONTACT: CoinAgenda Media [email protected] || A Regulatory Reckoning for the Crypto Industry?: Between BitMEX action, the U.K.’s derivative ban and the new U.S. Department of Justice enforcement framework, regulations are coming for crypto. 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 , Nexo.io and Elliptic . On this week’s Breakdown weekly recap, NLW looks at a cross-section of regulatory news, including: CFTC and DOJ action against BitMEX and its leadership The U.K. Financial Conduct Authority’s ban of crypto derivative products for retail investors The DOJ’s new cryptocurrency enforcement framework Related: Crypto Long & Short: A UK Ban on Crypto Derivatives Will Hurt, Not Protect Investors NLW discusses why these might reflect a new moment in crypto history, what it means for current builders in bitcoin and DeFi, and why recruiting corporate allies like Square will become more important than ever. This week on The Breakdown: Monday | Are Central Bank Coins the End of Financial Privacy? Tuesday | The UK Bans Crypto Derivatives Wednesday | How Bitcoin Could Become the Reserve Asset for DeFi, Feat. Qiao Wang Related: Signal, Noise and the Coming Era of AI Curation Thursday | The Market Reacts to Square’s $50M Bitcoin Buy Friday | Cathie Wood: Secrets of the World’s Best Innovation Investor For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . Related Stories A Regulatory Reckoning for the Crypto Industry? A Regulatory Reckoning for the Crypto Industry? || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / October 30, 2020 / ALT 5 Sigma Inc. an emerging leader in blockchain-powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD). Real-Time Market Data is available at www.alt5pro.com and Real-Time Market Data feed is also available at www.alt5sigma.com ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH ALT5 Sigma Market Summary Friday, October 30 2020 at 4:02 PM Digital Asset Pair Price 24hr Chg 7d Chg 24/hr Volume MarketCap Bitcoin BTC/USD $13,527.20 -$0.00 $0.05 $29,924 M $250,659 M Ethereum ETH/USD $383.47 -$0.02 -$0.06 $13,732 M $43,418 M XRP XRP/USD $0.24 -$0.03 -$0.06 $2,399 M $10,798 M Bitcoin Cash BCH/USD $260.86 -$0.03 -$0.03 $3,119 M $4,841 M Litecoin LTC/USD $53.85 -$0.03 -$0.02 $2,595 M $3,542 M Bitcoin SV BSV/USD $161.88 -$0.04 -$0.01 $852 M $3,004 M EOS EOS/USD $2.52 -$0.04 -$0.04 $2,669 M $2,361 M Monero XMR/USD $123.68 -$0.02 -$0.00 $1,112 M $2,195 M Stellar XLM/USD $0.08 -$0.02 -$0.09 $123 M $1,599 M Dash DASH/USD $70.66 $0.04 -$0.01 $530 M $692 M 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. Story continues For more information, visit www.alt5sigma.com . Contact: Andre Beauchesne Tel. 1-800-204-6203 [email protected] For more information on ALT 5 Pay, visit www.alt5pay.com For more information on ALT 5 Pro, visit www.alt5pro.com SOURCE: ALT 5 Sigma Inc. View source version on accesswire.com: https://www.accesswire.com/613666/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || Tribert Rujugiro Ayabatwa's Angola-Based BTC Approaching a 20-Year Mark of Productive Corporate Citizenship: TORONTO, ON / ACCESSWIRE / September 18, 2020/Tribert Rujugiro Ayabatwa is proud to announce that his company Barco Trading Company is approaching its 20thyear of productive corporate leadership.
Tribert Ayabatwa is a Rwandan serial entrepreneur, business leader, and philanthropist. He is the founder of Barco Trading Company and the Pan African Tobacco Group.
Tribert Rujugiro Ayabatwa established Barco Trading Company (BTC) in Lubango, Angola, in 2002. That was the year Angola achieved peace and began to build itself into the fourth-largest economy in Sub-Saharan Africa with a GDP of US$94 billion.
With cumulative investments of $60 million USD and a projected of an additional US$10 million, BTC is the only manufacturer of tobacco products in Angola. BTC employs 416 full-time and seasonal employees in the manufacturing and supply chain.
Tribert Rujugiro Ayabatwa envisions a bigger role for BTC by becoming a major exporter of made-in-Angola products. Ayabatwa is also keen to maintain the excellent relationship with the authorities and the people of Angola. This relationship includes BTC's corporate social responsibility recently demonstrated by the joint effort with the authorities in fighting COVID-19. BTC contributed a variety of foodstuff and sanitary materials.
For Ayabatwa, business is about more than just making a profit. Contributing to the greater good is fundamental.
"I am excited to see what the next 20 years hold for Barco Trading Company," says Tribert Rujugiro Ayabatwa.
To learn more about Tribert Rujugiro Ayabatwa, visithttps://www.ptg-hld.com/our-founder.
About Tribert Rujugiro Ayabatwa
Tribert Rujugiro Ayabatwa is a successful entrepreneur, business leader, and philanthropist from Rwanda. Ayabatwa is the founder and controlling shareholder of the Pan African Tobacco Group, Africa's largest indigenous manufacturer of tobacco products. The company, which celebrated its 40thyear of operations last year, manufactures cigarettes in nine African countries including Nigeria, Angola, Burundi, the Democratic Republic of Congo, Tanzania, Uganda, and the United Arab Emirates. Tribert Rujugiro Ayabatwa is also one of Africa's leading philanthropists. He has helped communities uplift themselves in fields such as education, food security, afforestation, and water-access. Through his non-profit foundation, Ayababwa also strives to help young people to gain the practical engineering experience required to enter the job market in Africa.
Contact:
David HimbaraPanAfrican Tobacco [email protected]
SOURCE:Tribert Rujugiro Ayabatwa
View source version on accesswire.com:https://www.accesswire.com/606698/Tribert-Rujugiro-Ayabatwas-Angola-Based-BTC-Approaching-a-20-Year-Mark-of-Productive-Corporate-Citizenship || 26 Smartest Ways To Invest Your Money During the Pandemic: While the overall economy is still suffering from the coronavirus pandemic, the stock market already has bounced back. After bottoming out in March, the Dow Jones Industrial Average and S&P 500 each had jumped more than 50% by mid-August, ABC News reported. But is the market due for a downswing? And are stocks a good choice for every type of investor? What might seem like a good investment for you might be too risky — or too safe — for someone else.
In general, the most conservative investments offer the lowest returns but protect your initial investment. As you move up the risk ladder you take on greater price volatility in exchange for potentially higher long-term returns. Cash investments are the least risky, followed by bonds and stocks.
Not sure where to invest right now? Here’s how the experts say you shouldinvest your money amid the pandemic.
Last updated: Sept. 19, 2020
• Safe or Risky:High-risk, high-reward
Smart beta funds attempt to use various investment factors that have been proved to enhance long-term returns. Low volatility funds are a subset of smart beta funds that aim to reduce risk by investing in lower-volatility securities. Although these funds cannot eliminate risk, their investment mandate is to at least smooth out the ride. This can make investing in the market less stressful during the uncertainty caused by the coronavirus.
• Safe or Risky:High-risk, high-reward
The United States comprises approximately 44% of the world’s stock market capitalization, so it’s always been a good idea to diversify into international stock funds. In any given year, the U.S. might or might not be the country with the highest stock market returns, so diversifying your exposure makes sense. This is particularly true during periods of uncertainty. U.S. and global stocks experience different economic and market forces, even during the current global emergency, so owning international stock funds leads to lower portfolio volatility and higher, risk-adjusted returns.
• Safe or Risky:High-risk, high-reward
Real estate investment trusts enable small investors to own a piece of the real estate pie. A REIT is a firm that owns or finances income-producing real estate. Similar to mutual funds, REITs offer investors regular income streams, diversification and the potential for long-term capital appreciation.
During the outset of the coronavirus crisis, many REITs got pummeled as the world essentially shut down and the revenue stream for these companies dried up. Once the crisis is resolved, however, the REITs that are in a stronger financial position could end up appreciating significantly, in addition to maintaining their dividends. Still, this amounts to a risky bet, as no one is certain how long this crisis will last.
Luke Lloyd, wealth advisor and investment strategist atStrategic Wealth Partners, recommends investing in data center REITs.
“Commercial real estate could take a hit given the current mentality of ‘work from home’ and the need for less office space,” he said. “However, there could be opportunities in data center REITs that house the infrastructure buildout of the technology sector. These data centers house the servers and technology that support the cloud network companies operate on.”
• Safe or Risky:Variable depending on manager and investments
Robo-advisor accounts automatically manage your investments in line with your risk tolerance and goals. Vanguard, Schwab and independent shops — including Personal Capital, Wealthfront, SigFig and Betterment — offer a variety of robo-advisor accounts and services.
Robo-companies create diversified portfolios with low account management fees, and some offer access to a human investment advisor. Most robo-advisor accounts include easy-to-use investment apps.
During times of market uncertainty, a robo-advisor can be a good option because it takes emotion out of the investing equation. Rather than trying to manage your own portfolio, agonizing over the large losses and wondering if you should buy or sell, a robo-advisor will keep you to your predetermined investment plan.
Find Out:How To Protect Your Retirement Savings During the Coronavirus Pandemic
• Safe or Risky:Safe
U.S. Treasury Inflation-Protected Securities, or TIPS, are safe in that they are backed by the full faith and credit of the U.S. government. You can buy individual Treasury inflation-protected bonds on the Treasury Direct website or in a low-fee mutual or exchange-traded fund. TIPS protect your cash from inflation.
While you won’t have to worry about losing your principal, you might not get much by way of a return. Inflation is likely to be held in check throughout the coronavirus crisis, as falling demand overall is likely to more than offset the temporary price spikes in certain goods. This dampens the inflation-protection element of these bonds, as inflation is unlikely to rise dramatically, thereby lowering overall return.
• Safe or Risky:Safe, but riskier than usual
Generally, municipal bonds’ interest payments are tax-free on the federal level, and if they’re issued by your state, you won’t have to pay state taxes. Municipal bonds are traditionally a safe haven for investors, but in the current market environment, they might be riskier than usual.
With rampant unemployment and the shutdown of almost every aspect of American life, the credit quality of these bonds could take a significant hit. This is particularly true of revenue bonds, which rely on consumers using their services to pay the interest on the bonds. One way to diminish this risk is to buy insured municipal bonds only — although in that case, you’re relying on the solvency of the underlying insurers as well.
• Safe or Risky:Varies based on chosen investments
A 529 plan is a tax-advantaged savings vehicle designed to help you save for college for a child or family member. Also known as a qualified tuition plan, 529s are sponsored by states, state agencies and educational institutions. You can choose from a variety of stock, bond and cash investments in your 529 account.
Although the investments in these accounts are likely to remain volatile for the foreseeable future, 529 plans are generally long-term investments. If your child has 10 or more years before the money will be needed for college, you’ve got a long runway to earn back any losses and then some. Regular investments in these plans during volatile market times actually can add to your long-term returns over time, as markets historically recover from major sell-offs.
Tips:Investing ‘Rules’ You Shouldn’t Follow
• Safe or Risky:Moderate
Investing in a foreign country’s debt can increase your returns and diversify your investment portfolio. When you invest in global bond funds, however, you take on additional risk.
All bond funds carry interest rate risk, which is the risk that your value decreases as interest rates rise. Global bond funds also might carry currency risk unless they are hedged. In these uncertain times, global bonds also have additional country and political risk, as the economic devastation wreaked by the global shutdown is hard to quantify on a country-by-country basis.
• Safe or Risky:Safe
Certificates of deposit offer a fixed rate of interest on your investment for a predetermined period of time. CDs also have the benefit of Federal Deposit Insurance Corp. guarantees of up to $250,000 per account. This can provide peace of mind in troubled times, such as during the current pandemic.
If you can afford the initial investment, Juan Carlos Cruz, founder ofBritewater Financial Groupin Brooklyn, New York, said he recommends investing in high-yield CDs, which typically offer higher rates than a standard CD.
“The HYCD works just like a regular CD, but may require a higher balance than other CDs and to hold for a longer period of time,” he said. “Please do your research and check with your local bank for the minimum deposit for this type of account.”
CD laddering is a smart strategy that enables you to take advantage of regular investments to garner the best yields, regardless of whether rates are rising or falling going forward. For example, if you have $10,000 to invest, you might spread that out by investing $2,000 each in a 12-, 24-, 36-, 48- and 60-month CD. Look online for promotional CD rates to get the most bang for your buck.
• Safe or Risky:Moderate
A diversified bond fund such as the iShares Core U.S. Aggregate Bond ETF (ticker: AGG) or a mutual bond fund like the Vanguard Total Bond Market Index Fund Investor Shares (ticker: VBMFX) can provide you with great exposure to the U.S. investment-grade bond market. Both funds spread your investments out among corporate bonds and U.S. government bonds with various maturities.
The risk you take when you invest in anything but the shortest-term bond funds is that when interest rates rise, the underlying principal value is likely to fall. As interest rates are at historic lows, if rates rise in the future, you could lose some of your principal.
Options:19 Areas To Invest In During a Financial Crisis
• Safe or Risky:Less risky
Also known as lifecycle funds, target-date mutual funds are designed for the investor who wants a “set it and forget it” retirement investing option. Choose the year you want to retire or access the money and your investments go from risky — when you have many years to go until your goal date — to more conservative as you get closer to retirement.
If you’re willing to hold your target-date fund until maturity, it could be a good option to ride out the current market volatility. Since most target-date funds have longer maturities, you likely can recover any current losses over the long run.
• Safe or Risky:High-risk, high-reward
When you’re looking to match an index’s performance, ETFs might be good investments. Superstar investor Warren Buffett loves index funds, and they typically feature rock-bottom management fees.
It’s tough to outperform a fund with low fees like the Vanguard Total Stock Market ETF (ticker: VTI), which has an expense ratio of just 0.03%. If you’re a long-term investor, you’ll be ahead of the game if and when the market ultimately hits a new all-time high.
• Safe or Risky:High-risk, high-reward
Public companies offer you a chance to own a piece of them — and when the business grows, so does your portion of ownership. You’ll have to do your homework, but if you can research and buy companies that have the potential to perform strongly through the pandemic, you have an opportunity to realize tremendous growth with individual stocks.
“We still think stocks are the best path to long-term growth, but that can be hard to stomach with all the volatility we’ve seen,” said Rob Emrich III, founder and managing partner ofAcruence Capital. “We expect volatility levels to remain high, as measured by the VIX, particularly around and after the election. Investors could potentially benefit from owning investments that respond favorably to rising volatility.”
The stock market already is paying off for some investors, despite an initial dip in March.
“The stock market has been showing phenomenal growth,” said Chalmers Brown, co-founder and chief technology officer atDue. “I’ve been putting a greater investment into that since April and it’s really starting to pay off. Some stocks are even splitting, giving me even more growth potential and return. Those that may have small amounts to invest could do so through apps that let you buy percentages of stock shares. This makes this investment opportunity accessible to everyone.”
Not sure which stocks to choose? Find an advisor to guide you through the process.
• Safe or Risky:Depends on the investments selected
An IRA helps you save for retirement and reduces your taxes. Any money you invest in your traditional IRA comes out of your taxable income, which saves you money at tax time.
“When investing in a retirement account, you also get tax advantages — tax deductible contributions for pre-tax amounts or tax-free withdrawals in the case of Roth contributions — that allow your money to work harder for you,” said Carrie Schwab-Pomerantz, a senior vice president atCharles Schwab.
You don’t get an immediate tax benefit on your Roth IRA contributions, but when you begin taking qualified withdrawals after you reach 59 1/2 you won’t be taxed on that money. You can open either type of IRA account at a bank or online stock brokerage and fill it with stocks, bonds, funds or other types of investments.
As money you put into an IRA is intended for long-term growth, continuing to make contributions during market downturns can pay off in down the road. Choose appropriate investments that match your investment objectives and risk tolerance to make the most of your IRA.
• Safe or Risky:Depends on the investments selected
“If you are fortunate to have an employer that offers a 401(k) match, make sure you are investing a minimum of whatever the matching rate is,” Schwab-Pomerantz said. “It’s essentially free money.”
Even if you don’t have an employer match or it has been suspended, Schwab-Pomerantz said it’s still a good idea to keep investing in your retirement fund.
• Safe or Risky:High-risk, high-reward
Commodities include precious metals, coffee, orange juice, oil, gas and a number of other raw materials. You can buy a commodities fund or participate in a commodity futures contract.
Some investors believe commodities are a good source of diversification, although they’re volatile, complex and not well-suited for investing for beginners, according to Fidelity. Two of the largest commodity funds are the Invesco DB Commodity Index Tracking Fund (ticker: DBC) and the iShares S&P GSCI Commodity-Indexed Trust (ticker: GSG).
Helpful:12 Stable Investments Everyone Needs in Their Portfolio Right Now
• Safe or Risky:High-risk, high-reward
As gold doesn’t pay dividends or generate any income or revenue, it’s a pure commodity play. Gold is generally used as a hedge against market volatility, rather than a long-term, buy-and-hold type investment.
“The yellow metal has a storied record of thriving during times of uncertainty and volatility, and these factors have propelled gold to be one of the best-performing investments of the COVID economy,” said Ryan Giannotto, director of research atGraniteShares, an ETF issuer based in New York.
• Safe or Risky:High-risk, high-reward
When you buy an actively managed mutual fund, you’re hiring an investment manager who chooses investments he believes will outperform the market. In the current volatile market, hiring a professional to help you pick your investments can be a prudent move. Just make sure you find a fund manager who’s in line with your approach. Actively managed funds can be found for nearly any investment category, from stocks or bonds to precious metals and international bonds.
• Safe or Risky:High-risk, high-reward
Cryptocurrency is a digital, decentralized and encrypted currency. The first cryptocurrency, Bitcoin, was invented in 2009. Although millions of people use cryptocurrencies, they are still a nascent market. Coupled with the fact that crypto is not endorsed or supported by any government and is shrouded in mystery, its price can be volatile.
In the week of Sept. 13, 2020, for example, the price of Bitcoin fluctuated between about $9,950 and $10,700. Articles in the investment community say Bitcoin can hit any price between $0 and $100,000, evidence of the great uncertainty surrounding the investment. Regardless of whether you’re investing in crypto during the coronavirus crisis or in more normal market conditions, expect extreme volatility.
• Safe or Risky:High-risk, high-reward
Foreign currencies are traded on the foreign exchange market, and they represent a high-risk investment strategy. If you’ve traveled in a foreign country, you understand how currency values fluctuate — forex traders attempt to benefit from those fluctuations. Because of the risk level involved with forex, this type of investment is best left to sophisticated investors. This is particularly true during the coronavirus epidemic, as emotions and other nonfinancial forces are acting on currency exchange rates that may be harder to predict.
• Safe or Risky:High-risk, high-reward
A sector fund is one that invests only in businesses that operate in a particular industry or sector of the economy. If you have a hunch that a certain sector, such as oil or healthcare, will outperform in the future, this type of fund might be for you. Sector funds include stocks, bonds and other financial assets.
Sector funds are not as diverse as broadly diversified funds. When sectors drop in value your funds will drop as well, which makes these risky investments. A perfect example is the United States Oil Fund ETF (ticker: USO), which had dropped more than 71% for the year through Sept. 14. If you believe oil will stage a massive turnaround, this could be a great high-risk, high-reward play. However, the size of the selloff is an indication of the risk involved.
Lloyd recommends investing in the technology and healthcare sectors in our current climate.
Be Aware:How a COVID-19 Vaccine Could Hurt Your Portfolio
• Safe or Risky:Safe
In the current market environment, savings accounts are like gold. They are insured up to $250,000 and are completely liquid. The downside is that yields are tumbling as the Fed has cut rates to essentially zero. Still, online savings accounts and cash management accounts such as Wealthfront and Betterment can still pay much better than the national average savings account rate of 0.09%, which itself is likely to tumble. During a global emergency such as the coronavirus, bulking up your savings is a good strategy. This is especially true if you are currently lacking an emergency fund.
“Schwab conducted a recent survey that found 50% of Americans could not cover an unexpected expense of up to $1,000,” Schwab-Pomerantz said. “Given that, I think one of the best things people can do with any extra money right now is increase their savings. If you’re short on emergency funds (or dipped into them) due to the pandemic, focus on replenishing them in case something else comes up — car repair, reduction in hours/furlough, plumbing emergency, etc.”
Megan Morton, a member of the founding team atCalendar, said she has taken that advice herself.
“I’ve actually been spending less money each month due to fewer trips and no commute. This has left me with some money that I would’ve had to spend prior to COVID-19. The extra funds are being invested directly into my emergency fund,” she said. “COVID-19 really made it clear why an emergency fund is necessary because you never know what may happen.”
• Safe or Risky:Safe, if you can afford it
“I’m putting more equity in my home by making additional principal payments,” said Jon Bradshaw, founder and president ofCodebase. “I see some people are refinancing and taking cash out, but they are losing equity by doing so. Instead, I believe that putting more in helps better position me during a time where property values continue to rise. I can take that investment increase later on when I sell my home.”
• Safe or Risky:Safe, if you can afford it
“There have been tremendous discounts on technology hardware and software during the pandemic, so I’ve focused on investing in upgrading technology and ensuring I have the right tools for my business and personal life,” said Steve Gickling, founder ofETLrobot. “This ability to invest in more technology has been a way to be ready for when the country reopens again and business picks up speed.”
Your money is always a precious commodity, but especially so in today’s uncertain world. Beyond funds, stocks and financial accounts, here are a few more ways you can invest your funds right now.
Since our ability to connect with our friends, family and extended network is more limited now, it’s more important than ever to consciously invest in our relationships.
“That could look like upgrading your Zoom account for a better experience when talking to someone or sending meaningful gifts to the people you care about,” said Chris Schembra, founder of7:47. “Your success is determinant on the strength of your weak ties. Invest in your weak ties when times are tough, and they’ll provide referrals and loyalty when times are good again.”
“During the pandemic, it’s well worth investing your money in activities where you can help others,” said Gloria Horsley, co-founder ofOpen to Hope. “The return you get in providing others with much-needed assistance through stressful and uncertain times pays dividends in the form of greater satisfaction than purchasing material things. You get to see the results almost immediately. Plus, in a world where we feel a loss of control, actively helping others is a good way to get back that feeling of control.”
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Barbara Friedberg,John CsiszarandGabrielle Olyacontributed to the reporting for this article.
This article originally appeared onGOBankingRates.com:26 Smartest Ways To Invest Your Money During the Pandemic || Five On-Chain Indicators Investors Should Follow: Chainalysis: Analyzing cryptocurrency markets may seem easier than traditional markets because blockchain technology has more built-in transparency, enabling anyone to analyze and audit on-chain data. Simultaneously, however, there are challenges to zeroing in on forward-looking numbers that give insights into current and future price trends. Philip Gradwell, chief economist at the blockchain intelligence firm Chainalysis , joined CoinDesk earlier this week to discuss the five must-track on-chain indicators for all traders. Exchange inflows “The first indicator that I look at every day is exchange inflows,” Gradwell said. Related: Traders Rotate to Bitcoin Expecting a Quiet Q4 for Altcoins Investors typically transfer coins from their wallets to exchanges when they want to liquidate their holdings and take direct custody of their holdings when they have a bullish view on the cryptocurrency. A surge in inflows in a rising market could be considered a sign investors lack confidence in the uptrend. “When you see large inflows, it’s time to be cautious,” Gradwell added. Also read: Bitcoin Risks Deeper Price Pullback as Exchange Inflows Spike Nonetheless, inflows do not imply immediate liquidation. Investors can hold their coins on exchanges for as much time as they want. Related: CFTC Charges Firm With Illegally Providing Leveraged Trading of Crypto, Gold “Historically coins have been liquidated with a lag of 12 to 36 hours,” Gradwell said, adding that during the March crash there was panic selling. Thus, this indicator is just one piece of the puzzle because we don’t know when the transferred coins will be sold. What’s more an uptick in inflows or selling pressure is often matched by an equal or more substantial buying pressure. Trade intensity To determine the impact of exchange inflows on the supply side, investors should keep an eye on the demand side with the help of the “trade intensity” metric, which measures the number of times an inflowing coin is traded. Story continues “It tells us how many people are willing to buy bitcoins sent to exchanges,” Gradwell said. An uptick in trade intensity shows that buyers are outweighing sellers and it is a sign of trend strength. Bitcoin jumped over 7% to 15-month highs above $12,300 on Wednesday. Amid the price rally, cryptocurrency exchanges tracked by blockchain intelligence firm Chainalysis received a total of 106,519 BTC on Wednesday, the highest daily inflow since Oct. 2. However, the rise in inflows failed to apply the brakes to the price rally because demand was strong. Bitcoin’s trade intensity jumped to a two-month high of 5.8, more than double the 90-day average. Also read: Back at $13K: Bitcoin Unfazed by Profit Takers After Rise to 2020 High While exchange inflows and trade intensity help gauge short-term market conditions, the remaining three indicators are more about long-term trends. Interexchange flows Investors can buy cryptocurrencies with fiat currencies like the U.S. dollar or use dollar-backed stablecoins like tether to fund purchases. Crypto-to-fiat exchanges facilitate the exchange of dollars for cryptocurrencies, while at crypto-to-crypto exchanges stablecoins are used as a gateway to crypto trading. Investors can determine whether the market is driven by fiat buyers (such as institutions) or tether traders by keeping track of net flows between these two types of exchanges. 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. However, that, too, isn’t set in stone. Since March, crypto-to-fiat exchanges have received 206,000 BTC from crypto-to-crypto exchanges, according to Chainalysis. “It indicates that fiat buyers have mainly driven the market,” Gradwell noted, adding that the data confirms the bullish narrative of rising institutional participation in the top cryptocurrency. Liquidity Investors can gauge the hodling sentiment in the market by keeping track of the number of liquid and illiquid entities – clusters of addresses controlled by the same participants in a network. Chainalysis identifies entities by analyzing blockchain transaction patterns to identify which addresses are controlled by a single person or business. This gives a more accurate picture of what is going on as the data better reflects actual holdings and transfers between people and business, reducing the noise of internal movements of cryptocurrency. Liquidity is the average ratio of net to gross flows of an entity’s assets over the entity’s lifetime, across all addresses controlled by the entity. Chainalysis defines a liquid entity as the one that sends on average at least 25% of the assets it receives, while an illiquid entity is the one that sends on less than 25% of its received assets. Essentially, an illiquid entity is the one that appears to believe in the cryptocurrency’s long-term prospects and hoards coins. That has a weakening effect on selling pressure in the market. For that reason, a sustained rise in the number of illiquid entities is a sign of strong hodling sentiment and a bullish indicator. The above chart shows the liquidity of bitcoin has declined to the lowest level since mid-2017. Bitcoin’s meteoric rise from $5,000 to $20,000 that happened in the final quarter of that year. Also, the amount of illiquid bitcoin has risen sharply. “It’s been increasing at a greater rate this year than it did before. So you’ve got more investors than ever before. But there’s also fewer bitcoin that are liquid and available to buy than ever before,” Gradwell said. That possibly the reason why bitcoin recently held steady above $10,000 despite the BitMEX indictments, KuCoin hack, OKEx private key drama, U.S. President Donald Trump’s health scare and a global stock market sell-off. Value transfers across blockchains Value transfer refers to the U.S. dollar value of total units on a blockchain that are transferred on a given day. It essentially represents the usage of the blockchain and is 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. Ether’s value transfer began rising sharply in mid-July. A week later, the cryptocurrency picked up a strong bid around $250 and ended up rallying to $470 by mid-August. Ether led the broader market higher in July and August and outshined bitcoin by rallying 53% and 26%, respectively. Up until last year, bitcoin pretty much led the broader market in both bull and bear runs. Most investors would buy ether and other alternative cryptocurrencies during bitcoin’s bull run and sell those other cryptocurrencies when bitcoin was on the downturn. However, the dynamics have changed this year with the explosive growth of the Ethereum-based decentralized finance protocols, making it imperative for investors to track on-chain activity of ether and other coins. As crypto markets continue to grow and mature, demand for deeper on-chain analytics is likely to increase. “With on-chain data, there is an amount of work that needs to be done first, to go from raw blockchain concepts like an address to a more meaningful economic concept like the flow into an exchange. But once it’s done, the user has a meaningful data set to act on and make decisions,” Gradwell said. Related Stories Five On-Chain Indicators Investors Should Follow: Chainalysis Five On-Chain Indicators Investors Should Follow: Chainalysis
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 14833.75, 15479.57, 15332.32, 15290.90, 15701.34, 16276.34, 16317.81, 16068.14, 15955.59, 16716.11
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin: Upside targets After The Coinbase SEC News Boost Confluence Detector: This article originally appeared on FXStreet . Bitcoin is moving up after the news that Coinbase is eyeing an SEC license, strengthening the notion that the cryptocurrency has bottomed out. What are the next targets? The Technical Confluence Indicator shows that the initial resistance awaits at the $ 7,750 level which is the convergence of the 1h-high, the 4h-high, the Fibonacci 23.6 percent one-month, the Pivot Point one-week Resistance 1, and the Pivot Point one-day Resistance 1. Next up, the $ 7,965 number defends the round $8,000 level. It is the meeting point of the Pivot Point one-day Resistance 3 and the Pivot Point one-week Resistance 2. Yet the most prominent target is at $ 8,181 which is the confluence of the Fibonacci 38.2 percent one-month, a powerful line, and the Simple Moving Average 200-4h. Evsen higher, $ 8,301 , $ 8,396 , and $ 8,458 . On the downside, strong support awaits at $ 7,627 which is the congestion of the Simple Moving Average 100-1h, the one-week high, the Fibonacci 38.2 percent one-day, and the SMA 5-1d. Further down, the $ 7,412 price level is the convergence of the Bolinger Band 1h-Lower, the Fibonacci 38.2 percent one-week, and the Pivot Point one-day Support 2. Here is how it looks on the tool: bitcoin_technical_confluence_levels_june_7_2018-636639623123972162.png The Confluence Detector finds exciting opportunities using Technical Confluences. The TC is a tool to locate and point out those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot Points, etc. Knowing where these congestion points are located is very useful for the trader, and can be used as a basis for different strategies. This tool assigns a certain amount of weight to each indicator, and this weight can influence adjacents price levels. These weightings mean that one price level without any indicator or moving average but under the influence of two strongly weighted levels accumulate more resistance than their neighbors. In these cases, the tool signals resistance in apparently empty areas. Story continues Learn more about Technical Confluence See more from Benzinga Trump's Trade Wars: Fighting On 3 Fronts Cannot Keep Markets Calm For Too Long And It Could Turn Ugly Bitcoin Targets ,161, Ethereum 8, Ripple Bitcoin Targets $8,161, Ethereum $648, Ripple $0.6925 If They Break Technical Resistance Confluence Detector .6925 If They Break Technical Resistance Confluence Detector NFP Quick Analysis: When The Commander In Chief Leaks, The Dollar Does Not Need The Data © 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Why Bristol-Myers Squibb Stock Crashed in April: What happened Shares of the big pharma behemoth Bristol-Myers Squibb (NYSE: BMY) turned in one of their worst months on record in April. Specifically, the drugmaker's shares lost a hefty 17.5% of their value last month, according to S&P Global Market Intelligence . Bristol's shares were clobbered in April for three reasons: It was a rough month for nearly all biopharmaceutical stocks, thanks to President Trump's controversial trade war with China. Pfizer 's (NYSE: PFE) management team noted halfway through the month that Bristol was not a top acquisition target due to the company's current valuation. Bristol's Q1 sales narrowly missed Wall Street's consensus estimate toward the end of the month. The word Value spelled out with wooden blocks. Image source: Getty Images. So what Despite posting stellar revenue growth over the past few years due to the breakout success for its cancer immunotherapy Opdivo, as well as its blood thinner Eliquis, Bristol's shares are now trading near their 52-week lows after this double-digit drop in April. Now what Bristol's former top shelf valuation apparently reflected Wall Street's strong belief that Pfizer would indeed make a tender offer sometime soon. Pfizer, after all, is now flush with cash after the newly minted tax legislation, and this pairing makes a lot of sense for a variety of reasons . Just because Pfizer isn't interested, though, doesn't necessarily mean that Bristol won't get taken out this year. Gilead Sciences (NASDAQ: GILD) , for instance, could very well emerge as a suitor due to the relatively slow start for its cellular immunotherapy endeavor and accelerating declines in its hep C franchise. Gilead also has the financial capacity necessary to take on such a large deal. Apart from the possibility of a buyout, Bristol looks like a great pick up at these rock bottom prices simply for its strong organic growth. Opdivo is continuing to rack up new indications at record pace and Eliquis' sales are also showing no signs of slowing down. As such, bargain hunters may want to take advantage of this dip to grab some shares soon. 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 George Budwell owns shares of Pfizer. The Motley Fool owns shares of and recommends Gilead Sciences. The Motley Fool has the following options: short May 2018 $85 calls on Gilead Sciences. The Motley Fool has a disclosure policy . || Billionaire Tim Draper: Bitcoin to Hit $250K: This article was originally published on ETFTrends.com. With a bank account value exceeding into the billions, venture capitalist Tim Draper says the bank is going to become virtual soon and that Bitcoin is going to hit $250,000. Draper built his fortune on betting on early start ups like Hotmail, Skype, and Tesla. Related: 3 Reasons Tesla Investor Confidence Matters Now Will he be right about this too? Bitcoin is Better Than Banks My money is at risk in banks. Theyre being hacked all the time, Draper tells FOX Business . Bitcoin is probably the most secure of currencies right now. I see [this shift] happening faster than anybody ever imagined. I think within four years, around 2022, bitcoin is going to hit $250,000, he says. https://www.youtube.com/watch?v=CHTb2bPdMOs According to CoinMarketCap, the current price of bitcoin is around $8,300 on Thursday, May 17. POPULAR ARTICLES FROM ETFTRENDS.COM 3 Starbucks ETFs React to More Offensive Racism Shaky Foundations for Homebuilder ETFs REIT ETFs: Its About More Than Interest Rates Bitcoin Flirting With Key Downside Levels Consumer Staples ETFs: Why the Struggle is Real READ MORE AT ETFTRENDS.COM > || Tech Stocks This Week: Apple Stock Hits New High, Snap Plummets, and More: This week included lots of volatility, as earnings season continued and the overall stock market fell more than 2% before recovering by the end of the week. Though the S&P 500 was down over 2% during intraday trading on Thursday, the index climbed sharply on Friday, leaving stocks about where they started. Amid this volatile week, three stories in tech stood out. Apple (NASDAQ: AAPL) stock soared to new highs after a solid second quarter and as Warren Buffett's Berkshire Hathaway revealed a larger stake in the company. Snap (NYSE: SNAP) stock plummeted as the company's recent redesign for Snapchat dragged on results. Financial technology company Square (NYSE: SQ) saw its revenue growth accelerate again . An employee and customer interact with the two displays included with Square Register Square Register. Image source: Square. Apple stock jumps On Tuesday afternoon, Apple announced the results for its second quarter of fiscal 2018, or the period ending March 31. The results beat expectations, sending shares about 5% higher on Wednesday . Apple's second-quarter results highlighted strength across the company's business as iPhone revenue climbed 14% year over year, services revenue jumped 31%, and other products revenue soared 38%. These strong drivers helped Apple's total revenue and earnings per share rise 16% and 30%, respectively. Apple stock gained even more steam later in the week when famed investor Warren Buffett said his company, Berkshire Hathaway, had increased its stake in Apple by 75 million shares during the first calendar quarter. Apple was already Berkshire's biggest equity stake, but now the stake is worth more than its second- and third-largest holdings combined. Apple shares finished the week up about 13%. Snap plummets Snap fell about 20% after it reported worse-than-expected revenue for its first quarter. Though revenue for the period increased 54%, to $231 million, the consensus analyst estimate was for $245 million. Revenue was down 19% sequentially. Management specifically cited its recent redesign for Snapchat as one of the reasons for the drop. Story continues Just as worrisome as Snap's lower-than-expected revenue was its underwhelming growth in daily active users. Snap users increased just 2% sequentially, making for Snap's slowest-ever growth in the key metric. Snap finished the quarter with 191 million daily active users, well below a consensus analyst estimate for 194 million. Snap stock finished the week down 25%. Square accelerates Square has been on a roll recently, consistently posting accelerating year-over-year revenue growth rates . The financial technology company, which makes most of its money from its transaction-based revenue on merchants' gross payment volume, saw its momentum continue in its first quarter, as revenue growth accelerated yet again. Square's first-quarter revenue, adjusted to exclude transaction-based costs and the expenses associated with processing bitcoin trading, was up 51% year over year -- a meaningful acceleration from 47% growth in the fourth quarter of 2017 and 45% growth in Q3. Square's increasing appeal to larger sellers, or sellers generating more than $125,000 in annualized payment volume, played a key role in the company's growth during the quarter, management explained in its first-quarter shareholder letter: "As these sellers use more products, we deepen our relationship with them, and they drive meaningful growth for Square: In the first quarter, total net revenue from larger sellers grew 47% year over year, and Adjusted Revenue from larger sellers grew 60% year over year." Square stock finished the week up 3%, outperforming the S&P 500's flat performance. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Daniel Sparks owns shares of Apple and Square. The Motley Fool owns shares of and recommends Apple and Berkshire Hathaway (B shares). The Motley Fool owns shares of Square and 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 . || Here's Why Investors Should Pay Attention to Campbell Soup's Struggles: To sayCampbell's Soup(NYSE: CPB)had a poor quarter would be an understatement. After posting a surprising loss of $393 million, shares of the company fell more than 10% as investors digested the report. The stock is down 30% year to date, mostly due to management lowering its guidance to a 5%-6% year-over-year adjusted earnings per share decrease. That's worse than earlier projections of a 1% to 3% decline because of falling market share and President Donald Trump's steel and aluminum tariffs.
In response, Campbell's CEO Denise Morrison stepped down effective immediately after leading the company to four years of annual sales decreases in its U.S. soup business. While it's easy to blame Morrison for the poor quarter, and unfortunate considering Morrison was one of the few women leading a Fortune 500 company, a change needed to be made.
However, it's likely even the best CEO wouldn't have led the company better during their tenure because Campbell's problems were decades in the making. Older brands have been defined in the minds of new shoppers and it's unlikely to be reversed.
Image source: Getty Images.
Branding cuts both ways, although negative effects are often ignored. For decades Campbell's was defined by baby boomers and older Generation X shoppers as having cheap and easy-to-prepare meals. The trade-off was the perception Campbell's products lacked high-quality ingredients and were unhealthy, particularly in respect to sodium content.
Both quality ingredients and health perception are of key interest to millennials, which is now the largest demographical cohort. Unfortunately, this applies to the majority of the consumer packaged foods industry, as Campbell's and other legacy brands have underlying baggage that will make it hard for them to compete with newer upstarts.
The logical response for these legacy brands is to acquire fresh and healthy millennial-friendly brands to offset weakness in their core brands. This was the rationale for Morrison's purchase of Bolthouse Farms for $1.55 billion in 2012. However, Campbell's Fresh division vastly underperfomed this quarter, prompting a $619 million impairment charge.
Brand cachet will further be eroded by a continued shift to e-commerce. Although online shopping may feel ubiquitous,approximately 10% of all retail sales are onlinewith online grocery shopping and delivery still in the infancy states. Unlike retail stores and grocers where cash-rich legacy brands can pay more for shelf placement and floor-space marketing, e-commerce searches often revolve around the lowest price. The result is a devaluation of brands.
Already you can see grocery stores taking aggressive action to grow their online grocery footprints.Amazon.com's purchase of Whole Foods is finally taking shape with the company recently announcing a 10% discount for Amazon Prime members at the grocery store in certain areas. Additionally,Walmartis spending large sums to win grocery market share on its eponymous site and on its Jet.com website. Finally, pure play grocerKrogerrecently announced a partnership with Ocala, the British-based online grocery company, which will allow Kroger to quickly scale its digital operations.
But wait -- it gets worse for consumer foods brands. Not only are e-commerce giants attempting to build out their grocery operations, they are also on the forefront of bringing millennial-friendly brands to market, going vertical to profit throughout the entire production chain.
A recentSunTrustanalyst said Amazon's host of private labels -- including food brands Happy Belly, Wickedly Prime, and Whole Foods' Everyday 365 -- will grow to $25 billion in revenue. Not to be outdone, last year Walmart launched its Uniquely J line via Jet.com. Look for these private labels to steal market share away from traditional food companies.
Look for this trend to continue -- poor performance from legacy brands as e-commerce continues to erode brand cachet and the push to newer millennial-friendly brands will weigh on results. Unfortunately, Campbell's Soup is merely the canary in the coal mine for brand-heavy food and consumable companies.
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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.Jamal Carnette, CFAowns shares of Amazon. The Motley Fool owns shares of and recommends Amazon. The Motley Fool has adisclosure policy. || Bitcoin Cash, Litecoin and Ripple Daily Analysis – 30/05/18: Bitcoin Cash surged by 12.02% on Tuesday, reversing Monday’s 11.15% slide, to end the day at $986.6.
An early morning intraday low $870.3 held above the day’s first major support level at $833.2, while negative sentiment continued to weigh on the cryptomarket from Monday’s sell-off, Bitcoin Cash facing the prospects of sub-$800 levels without a catalyst to provide support.
News out of South Korea of a lift on the ban on initial coin offerings provided the needed support, with Bitcoin Cash rallying through the day’s first major resistance level at $970.2 to an intraday high $1,009.2, before easing back to sub-$1,000 levels by the day’s end.
In spite of the mid-morning rally, Bitcoin Cash failed to break through the 23.6% FIB Retracement Level of $1,100 to leave the May bearish trend intact.
At the time of writing, Bitcoin Cash was up 2.24% to $1,010.4, as the cryptomarket looks to consolidate Tuesday’s rebound and begin to reverse May’s bearish trend going into June.
A start of the day $977 was the only moment of worry for the crypto bulls, with Bitcoin Cash managing to hold off from testing the day’s first major support level at $901.53 to move back through to $1,000 levels.
The morning’s $1,028.2 high fell short of the day’s first major resistance level of $1,040.43 before easing back to current levels, with Bitcoin Cash needing to break through the 23.6% FIB Retracement Level of $1,100 to begin forming a bullish trend.
For the day ahead, moving back through the morning high would support a run at the day’s first major resistance level to bring the 23.6% FIB Retracement Level of $1,100 into play, though the news wires will need to remain friendly through the morning.
Failure to move through $1,040 levels and test the 23.6% FIB Retracement Level could see Bitcoin Cash reverse early gains and pullback through to sub-$1,000 levels, while we would expect the day’s first major support level at $901.53 to be left untested barring materially dire news hitting the wires.
While the bearish trend remains intact, Tuesday’s news out of South Korea certainly ticks some of the right boxes for the future of the cryptomarket.
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Litecoin gained 7.43% on Tuesday, more than reversing Monday’s 5.6% slide, to end the day at $119.5.
An early intraday low and new swing lo $110.0 held above the day’s first major support level at $108.18 before the mid-morning rally, which saw Litecoin break through the day’s first major resistance level at 116.62 to test resistance at the day’s second major resistance level at $122 before easing back to sub-$120 levels.
In spite of the morning jump, Litecoin fell short of the 23.6% FIB Retracement Level of $128, leaving the extended bearish trend intact going into today.
At the time of writing, Litecoin was up 0.81% to $120.49, recovering from a start of the day dip to $118.52 in the early hours, Litecoin managing to hold off from testing the day’s first major support level at $112.1 and from striking yet another swing lo.
A morning $122.86 high came up short of the day’s first major resistance level at $124.8 and the 23.6% FIB Retracement Level of $127, leading to a partial reversal to current levels.
For the day ahead, holding on to $120 levels will be key to supporting an afternoon run at the day’s first major resistance level, with sentiment across the broader market to dictate whether Litecoin can look to begin reversing the extended bearish trend with a run at the 23.6% FIB Retracement Level of $127.
Failing to move through to $124 levels would likely see investors pull money off the table and for Litecoin to pullback to sub-$120 levels, while we would expect the day’s first major support level at $112.1 to remain untested through the day.
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Ripple’s XRP rallied 9.58% on Tuesday, reversing Monday’s 8.85% slide, to end the day at $0.60113.
A spill over from Monday’s reversal saw Ripple’s XRP fall through to an intraday low and new swing lo $0.543 before a mid-morning bounce back in response to regulatory news out of South Korea.
For the bulls, Ripple’s XRP managed to avoid testing the day’s first major support level at $0.5254 through the day, with the prospects of sub-$0.50 levels averted for now.
The mid-morning rally saw Ripple’s XRP break through the day’s first major resistance level at $0.5907 to an intraday high $0.6110 before easing back to $0.60 levels by the day’s end, with Ripple’s XRP continuing to fall well short of the 23.6% FIB Retracement Level of $0.6452, to leave the extended bearish trend intact.
At the time of writing, Ripple’s XRP was up 2.38% to $0.6158, as the Tuesday rebound continued into the early hours of this morning.
A start of the day dip to a morning low $0.59476 held well above the day’s first major support level at $0.5591, with Ripple’s XRP bouncing to a morning high $0.62635 before easing back to $0.61 levels, the morning’s high testing the day’s first major resistance level at $0.6271, while continuing to fall well short of the 23.6% FIB Retracement Level of $0.6434.
For the day ahead, a move back through the morning high would support a breakout from the day’s first major resistance level to bring $0.64 levels into play, though for Ripple’s XRP to break clear of the 23.6% FIB Retracement Level, market sentiment will need to remain upbeat through the day.
Failing to move back through to the morning’s high will likely see investors look to lock in profits from Tuesday’s run, bringing sub-$0.60 levels back into play, while we would expect Ripple’s XRP to avoid testing the day’s first major support level at $0.5591, barring materially dire news hitting the wires.
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Thisarticlewas originally posted on FX Empire
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• Gold Price Futures (GC) Technical Analysis – Needs to Confirm Last Week’s Reversal Bottom to Turn Bullish || Bitcoin $10,000 – This weekend or next?: Bitcoin gained 4.74% on Saturday, reversing Friday’s 4.1% fall, to end the day at $9,342.9. The week’s see-saw continuing, with Bitcoin having been unable to string 2 consecutive days of gains together since Monday and Tuesday’s moves that ultimately ended in a reversal on Wednesday.
In spite of the intraweek falls, the good news is that Bitcoin has managed to gain 6.3% for the current week, Monday through Friday and, more importantly, break back through to $9,000 levels and get ever closer to the much talked about $10,000.
Bitcoin’s intraday high $9,500 and low $8,750 came within the same minute through the early part of the morning, Bitcoin managing to reverse the slide through the 23.6% FIB Retracement Level of $8,996 to resume the upward momentum and hit a post spike high $9,437.6 before easing back to $9,342.9 by the day’s end.
For the Bitcoin bulls in search of $10,000, hitting $9,500 and ending the day above the first major resistance level of $9,216.87 was key, the first part of the weekend rally coming good, the next step being Bitcoin avoiding yet another reversal that has been the trend through much of the week.
The prospects of a Bitcoin Cash hard fork that is expected to deliver a competitive edge over Bitcoin has yet to be reflected in market appetite for the market barometer, though competition is certainly building, with Litecoin also being increasingly used as a payment alternative to fiat money.
Saturday’s gains continued to support the bullish trend formed at 6thApril’s swing lo $6,500.2, while Bitcoin lags Bitcoin Cash for the week, Bitcoin up 6.3% compared with Bitcoin Cash’s 16.9% rally.
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At the time of writing, Bitcoin was up 1.01% to $9,440, with the Saturday rally continuing in the early part of the day.
A start of the day $9,565.1 high saw Bitcoin test the day’s first major resistance level of $9,645.27 before pulling back to $9,400 levels, the pullback considered relatively mild by normal standards to support a positive move through the morning.
A move back through the day’s high would support a run at the 2ndresistance level of $9,947.63 that should get the cryptomarkets particularly bullish, Bitcoin’s last attempt at $10,000 being thwarted at the 24thApril’s swing hi $9,767.4.
While Bitcoin may be considered the market barometer, Bitcoin will likely find direction from Bitcoin Cash, another solid rally likely to be a positive for Bitcoin and ultimately the broader markets, any pullback attributed to profit taking rather than a shift in sentiment towards Bitcoin and the cryptomarket in general.
A pullback later in the day could see Bitcoin fall to test the day’s first major support level of $8,895.27, though we will expect Bitcoin to hold at $9,000 levels going into the new week that would continue to support the bullish trend formed at 6thApril’s swing lo $6,500.2
Elsewhere, Bitcoin Cash was up 3.88%, while Waves led the way amongst the majors, up 21.1%, with Monero’s XMR and DASH the only majors to buck the trend early, down 1.52% and 0.17%.
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Thisarticlewas originally posted on FX Empire
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• DAX Index Fundamental Analysis – week of April 30, 2018 || S&P 500; US Indexes Fundamental Weekly Forecast – Investors Are Hoping U.S.-North Korea Meeting is Back On: The major U.S. stock indexes closed higher last week, led by technology stocks. The markets were resilient to a number of factors ranging from trade war fears to a softer tone by the U.S. Federal Reserve.
In the cash market, the benchmarkS&P 500 Indexsettled at 2721.33, up 0.30%. The blue chipDow Jones industrial Averagefinished at 24753.09, up 0.20% and the tech-drivenNASDAQ Compositeended the week at 7435.79, up 1.1%.
Stocks posted a two-sided reaction to news about U.S.-China trade relations. First rallying on optimism generated by the previous week’s meeting then retreating on pessimism because of President Trump’s disappointment with the outcome.
At mid-week, it was the Fed that helped stocks recover from an earlier setback. In the minutes from its May Monetary Policy meeting, the Fed said it would allow inflation to run above its 2.0% mandate. This dovish tone essentially means the central bank will not be as aggressive with rate hikes as previously thought.
On Thursday, stocks broke sharply after President Trump announced the cancelation of the highly anticipated meeting with North Korea President Kim Jung-un. Investors eventually took this news in stride and the markets were able to hold on to their weekly gains despite below average volume ahead of the long U.S. holiday week-end.
Stocks seem to be in pretty good shape going into June. However, the current rally doesn’t seem to have the power that buyers exhibited earlier in the year. Higher volatility and rising interest rates may be the reasons for the tentative buying. Nonetheless, stocks are in a position to close higher for the month which is a surprise to some stock market veterans who tend to abide by the old adage, “sell in May and go away.” If the cycle is off then this will give investors something to worry about in the coming months.
Over the week-end, investors received a piece of good news. According to reports, U.S. and North Korean representatives have been meeting all week-end to discuss the terms of the tentatively scheduled June 12 meeting between Trump and Jung-un. Yes that means the meeting may be reinstated.
Stocks could move higher this week if the meeting gets rescheduled. All the investors that bailed when the meeting was cancelled are likely to return to the market. This could give the indexes an early boost. However, there is always the possibility that the meeting will be canceled permanently so don’t think about closing your eyes and buying with both hands yet.
This is also a big week for economic data. Monday is a U.S. holiday so there will be no trading. On Tuesday, investors will get the opportunity to react to the Conference Board’s Consumer Confidence report.
Wednesday will feature the ADP Non-Farm Employment Change report and Preliminary GDP.
The major report for the week is Friday’s U.S. Non-Farm Payrolls report. The Non-Farm Employment Change is expected to show the economy added 190K jobs in May. The Unemployment Rate is expected to remain at 3.9%. Average Hourly Earnings are expected to rise 0.3%.
ISM Manufacturing PMI is expected to come in at 58.2, up slightly from 57.3.
Thisarticlewas originally posted on FX Empire
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• Price of Gold Fundamental Daily Forecast – Traders Acting Like US-North Korea Meeting is Done Deal || 5 Top Stocks to Buy in June: The official start of summer is just a few weeks away. While you may have plans to take it easy, money invested in the stock market doesn't take vacations.It keeps compounding, month after month, year after year. There are ups and downs, of course, but over the long run, there's no better place to put your hard-earned cash.
What stocks should you invest in? Five of our Motley Fool investors have some ideas. Here's why you should consider addingGilead Sciences(NASDAQ: GILD),International Business Machines(NYSE: IBM),3M Company(NYSE: MMM),SodaStream International(NASDAQ: SODA), andSolarEdge Technologies(NASDAQ: SEDG)to your portfolio in June.
Image source: Getty Images.
Keith Speights(Gilead Sciences):There's no way to sugarcoat Gilead Sciences' problems over the last three years. The big biotech stock lost nearly half of its market cap during the period due to plunging sales for its hepatitis C virus (HCV) drugs. However, I think Gilead is now poised to be a top turnaround candidate.
One key reason why is that HCV sales should stabilize soon. The HCV market has come down to a one-on-one battle between Gilead andAbbVie. That should provide a setting for price stabilization. Gilead expects the numbers of new hepatitis C patients to continue to decline, but more slowly than in recent years.
With HCV less of a drug for Gilead, the biotech's HIV franchise, which is set to generate solid growth, will be the big story for the company. Gilead recently launched Biktarvy, which market research firm EvaluatePharma projected asthe biggest-selling new drug to reach the market in 2018. Peak sales for the HIV drug could top $6 billion.
Perhaps the most important component to Gilead's comeback, though, is the biotech's pipeline. Gilead and partnerGalapagosare developing a promising anti-inflammatory drug, filgotinib. Analysts think the drug could achieve peak annual sales between $2 billion and $3 billion. There are also great opportunities for selonsertib, Gilead's lead candidate targeting treatment of nonalcoholic steatohepatitis (NASH).
Gilead stock currently trades at a little over 10 times expected earnings. If HCV sales stabilize, Biktarvy takes off, and the pipeline delivers like I expect, this biotech stock won't remain this cheap for too much longer.
Tim Green(International Business Machines):The market didn't like IBM's first-quarter reportin April, sending the stock tumbling despite better-than-expected revenue and earnings. Revenue jumped by 5% year over year, but that growth was driven almost entirely by currency. The company's gross margin also continued to erode, although the declines are getting smaller.
A growth stock IBM is not. But that doesn't mean it can't be a solid long-term investment. IBM's growth businesses are expanding at a double-digit pace, accounting for 47% of total revenue over the past year. Cloud revenue is now 22% of total revenue, and it grew by 20% during the first quarter. And cloud delivered as a service,a key growth driver for IBM, now has an exit annual run rate of $10.7 billion, up 25% from one year ago.
Declining sales in legacy businesses are still offsetting all this growth, leading to headline numbers that fail to impress. But I think the market is being too pessimistic. IBM stock now trades for just about 10.3 times the company's guidance for adjusted full-year earnings. And after a recent dividend bump, the stock yields 4.4%. This is a company that still has significant competitive advantages, including a large customer base dependent on its products and services. The rock-bottom valuation doesn't seem to reflect that.
If you're looking for a beaten-down dividend stock in June, look no further than IBM.
Neha Chamaria(3M):3M is off nearly 25% from its 52-week highs. Remarkably, the steep fall has come in just the past four months, opening up an opportunity for smart investors to buy shares in the industrials conglomerate that's also among the only eight publicly listed companies that have increased their dividends for a jaw-dropping 60 consecutive years. More so, because the sell-off in 3M shares makes little sense.
3M had abanner year in 2017, generating a record $30 billion in sales from a portfolio that comprises of more than 60,000 products that serve the needs of nearly every major industry you could think of. If you're wondering what kind of products, 3M is the owner of Post-it, Scotch, Scotch-Brite, Command, Filtrete, and Littmann brands, among others.
So why did 3M lose favor with investors? While weakness in the broader market knocked off some gains early on, a sharp drop in thecompany's first-quarter earningsfollowed by an outlook downgrade in April added fuel to the fire. In reality, 3M's sales hit all-time first quarterly highs, and two significant one-time expenses hit its bottom line. While one was a tax-related expense, the other was related to the settlement of a lawsuit, which was actually a positive development for the company.
Now here's the bigger news: Management downgraded its fiscal 2018 earnings per share (EPS) range estimate by 1% at the midpoint, primarily on the back of an unanticipated weakness in electronics. Yet, that was enough to spook investors as they saw 3M's guidance downgrade as a precursor to a slowdown in momentum in the industrials sector.
I beg to differ, because 3M's outlook still calls for a double-digit growth in EPS this year. In fact, 3M is unwavering on its2016-2021 financials goalsof growing its EPS by 8%-11% and converting 100% of its net income into free cash flow. It's time you get serious about this dividend growth stock.
Demitri Kalogeropoulos(SodaStream):If it's been a while since you checked in with SodaStream, you might be surprised by just how well the business is doing. The sparkling water machine specialist just posted its ninth straight quarter of double-digit sales gains while achieving record profitability. The important usage metrics are all pointing in the right direction, too, with machine sales and carbon dioxide refills showing strength across a range of markets including Canada, Australia, Japan, and the United States.
This is a far different business than the one that suffered painful sales and profit declines in 2014 and 2015. Since then, CEO Daniel Birnbaum and his team have shifted the brand focus from cola to sparkling water, lowered their manufacturing and distribution costs, released popular new machines, and improved relationships with key retailers. As a result, sales and earnings are bothon pace to rise by about 15%this year after expanding nicely in 2017.
Consumer appetites can change quickly, and that means SodaStream has to keep innovating if it wants to extend its positive momentum. The growth plan includes the launch of a new one-touch machine in the coming weeks and a bigger e-commerce platform that makes home delivery of carbon dioxide canister refills easier for its customer base.
Looking further out, there's a big global market opportunity ahead for the company that, in deliveringover 1.5 billion liters of sparkling waterto consumers last year, can claim to be the world's biggest water brand, by volume.
Rich Smith(SolarEdge Technologies):What went up has come back down again, and that's great news for investors -- who now have a chance to buySolarEdge stockfor a great price in June.
SolarEdge, one of the world's leading producers of solar inverters for converting direct current electricity from solar panels into alternating current electricity for home use, had a fabulous fiscal Q1, beating Wall Street estimates for both sales and earnings, reporting 11% sales growth, 430 basis points of improvement in gross profit margins, and a 134% increase in earnings per share (with 149% improvement in cash flow). Just like the analysts atVertical Group predictedback in February, competitors to SolarEdge are "nowhere in sight."
SolarEdge stock soared 26% in the few days following its Q1 2018 earnings release, but then, last week, the stock suffered whiplash. Over two days of trading, SolarEdge gave back literally every cent of its gains.
The reason? No one knows. There's been no bad news whatsoever, that I can find, to explain the stock's sudden turnaround (unless you call investors "taking profits" a reason).
As for the rest of us, thanks to the irrational decision to sell off SolarEdge stock, investors who missed their chance to buy before earnings have been given a second bite at the apple -- an opportunity to buy SolarEdge stock at its pre-earnings price, knowing beforehand just how wonderful those earnings numbers would be or already were.
If I were you, I'd grab that apple.
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Demitrios Kalogeropouloshas no position in any of the stocks mentioned.Keith Speightsowns shares of AbbVie and Gilead Sciences.Neha Chamariahas no position in any of the stocks mentioned.Rich Smithowns shares of SolarEdge Technologies.Timothy Greenowns shares of IBM. The Motley Fool owns shares of and recommends Gilead Sciences. The Motley Fool owns shares of SodaStream. The Motley Fool recommends 3M. The Motley Fool has adisclosure policy. || Vaultoro’s Bitcoin-to-Gold Exchange Implements Lightning Network Payments: Theworld’s firstcrypto-to-physical-gold exchange,Vaultorohas announced that it is now the first bitcoin exchange with an implementation of theLightning Networkas an instant deposit method.
The company allows customers to trade gold with bitcoin directly, all the way down to 0.1 gram in quantity. Customers can hold the asset for seconds or years, with their ownership certificate securely stored on the blockchain. All gold holdings are physically stored byPro Aurumin Switzerland and audited byBDO. The physical gold can be requested by customers or left in the vault, where it is also insured. Vaultoro is also working on a gold-backeddebit card.
According to Vaultoro CEO Joshua Scigala, “Lightning makes bitcoin so fast that if you want to buy an order out of Vaultoro’s order book, you can hold the bitcoin in a wallet on your phone, set the order on Vaultoro, get a QR code and send the bitcoins through the Lightning Network, directly purchasing the order.”
Normally a user would have to upload their bitcoins to Vaultoro and wait for six confirmations. During that time, the bitcoins are exposed to a hot-wallet counterparty risk. “With Lightning,” said Scigala, “the bitcoins won’t need to sit in our hot wallet; rather, they instantly make the trade. Market makers will still need to hold coins in our hot wallet because their orders have to sit there waiting to be taken.”
The Android bitcoin walletEclairis the first to support Lightning functionality, so it is recommended for this new Vaultoro functionality. The procedure would be to install Eclair, send bitcoin to it, open a Lightning channel, get your confirmation and then send transactions on the network virtually instantaneously.
It is important to note, however, that Lightning is still in beta and Eclair is the only option other than rolling your own wallet. Because Lightning is still beta, Scigala warns that users employ it it at their own risk.
“Bitcoin is one of the greatest peaceful revolutions the world has ever seen,” Scigala toldBitcoin Magazine. “Why? Because it’s voluntarily bringing people back to asset-based money and giving them a way out of controlled debt-based fiat currency. Many won’t understand this important difference, but it doesn’t matter as they will come in due to mad gains in the speculative markets or basic borderless utility.”
The Lightning Network takes bitcoin mainstream in terms of speed, privacy and utility. It’s the icing on this evolutionary cake and it’s beautiful to watch unfold. I’m super proud to make Vaultoro a little part of this story.
This article originally appeared onBitcoin Magazine.
[Random Sample of Social Media Buzz (last 60 days)]
Bitcoin Crypto-Drive – Fresh Forex… http://allforexbonus.com/forex-no-deposit-bonus/freshforex-crypto-drive … #deposit || USD: 110.730
EUR: 130.320
GBP: 149.209
AUD: 83.169
NZD: 76.647
CNY: 17.347
CHF: 110.996
BTC: 913,652
ETH: 76,050
Sat May 19 06:00 JST || Último: R$ 30.167,61 ▼
Alta: R$ 31.893,99 ▼
Baixa: R$ 30.023,00 ▼
Volume: 155.93092642 BTC ▲
Taxa 30min: 20 sat/byte (~R$ 1,545) ▼
#bitcoin #blockchain #cryptocurrency || #Vanig #tokensale #blockchain #ethereum #bitcoin Thats one of the most interesting ICO project in 2018! Vanig has huge community and perfect platform! || Poland this Friday 13:00 protest against 1000% tax on btc https://www.reddit.com/r/Bitcoin/comments/8dicne/poland_this_friday_1300_protest_against_1000_tax/ …pic.twitter.com/Np3xityxiL || Bitcoin Ponzis on the rise https://dollardestruction.com/6250/ pic.twitter.com/UibQFT1fcY || Hot hot hot: 250% match #bonus at Two-Up #Casino! US players welcome! (both bitcoin and cash accepted!) http://promoteam.rurl.me/twoup || 5 min #RSI Signals:
$BTC - $BRK: 0.31
$BTC - $DYN: 10.69
$BTC - $ERC: 13.45
$BTC - $CLAM: 14.59
$BTC - $VTR: 17.93
$BTC - $EFL: 21.71
$BTC - $INCNT: 22.94
$BTC - $NGC: 24.0
$BTC - $THETA: 25.25
#bitcointalk #CVCOIN #altcoin #tokens #BTC #cryptocurrency #trading #bitcoins #MED || Meanwhile, In Putin's Office..... https://ift.tt/2JnO4qH #bitcoin #blockchain #fintech || #YLC #CMC #ETH #BTC #TokenizedFranchising
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Trend: down || Prices: 6734.82, 6769.94, 6776.55, 6729.74, 6083.69, 6162.48, 6173.23, 6249.18, 6093.67, 6157.13
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-07-13]
BTC Price: 6238.05, BTC RSI: 40.58
Gold Price: 1239.60, Gold RSI: 32.11
Oil Price: 71.01, Oil RSI: 52.16
[Random Sample of News (last 60 days)]
General Electric Tees Up Another Asset Sale: Investors have been losing patience withGeneral Electric's(NYSE: GE)turnaround progress recently. Last week, the stock hit a new multiyear low following the news that GE stockwill be removedfrom the widely followed Dow stock market index. There have also been rampant rumors about GE potentially eliminating its dividend or breaking up the company.
However, in one respect at least, GE's turnaround plan is on track. General Electric continues to fetch good prices for pieces of its industrial empire that it wants to sell. Over time, asset sales will make GE easier to manage, while helping the company shore up its balance sheet.
For the past few months, General Electric has been talking to potential acquirers -- both private equity firms and other companies -- about its distributed power operations. This business (part of the struggling GE Power segment) makes gas turbines that generate power on site, mainly for large factories, and includes the GE Jenbacher and Waukesha brands.
On Monday, GE announced that private equity firm Advent International had won the bidding for its distributed power business. The deal wasfirst reported on Sunday nightbyThe Wall Street Journal.
Advent will pay $3.25 billion for this unit, which had $1.3 billion of revenue last year. The sale is scheduled to close in the fourth quarter of 2018.
GE is selling off pieces of its troubled power business. Image source: General Electric.
The distributed power business is set to produce earnings before interest, taxes, depreciation, and amortization (EBITDA) of roughly 250 million euros ($292 million) this year,according to Reuters. If that estimate is accurate, then the sale price of $3.25 billion reflects a healthy valuation of more than 11 times EBITDA.
The pending deal for GE's distributed power business is just one of several $1 billion-plus divestitures that the company has agreed to over the past year. Last September, GE struck a deal to sell its industrial solutions unit toABBfor $2.6 billion. At the time, the companies said the sale would close in the first half of 2018. Earlier this month, EU regulators approved the deal, so it is likely to be completed any day now.
In April, GE agreed to sell its healthcare IT business to private equity firm Veritas Capital for $1.05 billion. That deal is expected to close next quarter.
And last month, GE signed a complex deal tosell its transportation business-- which specializes in building freight locomotives -- toWestinghouse Air Brake Technologies(NYSE: WAB), better known as Wabtec.
General Electric will receive cash proceeds of $2.9 billion when this sale closes in early 2019, plus a 9.9% stake in Wabtec that would be worth $1.9 billion at current market prices. (GE shareholders will also receive about $7.7 billion of Wabtec stock.) GE is required to sell its Wabtec shares within three years, and it may opt to cash out even faster.
The four signed asset-sale agreements discussed here will generate cash proceeds of $9.8 billion over the next 12 months. To be fair, some of these asset sales will likely lead to taxable gains, so part of the proceeds will need to be set aside for Uncle Sam. Additionally, GE will spend a little over $3 billion later this year to buy outAlstom's interests in three joint ventures that the two companies set up several years ago.
Nevertheless, even without any further asset sales -- and excluding the potential sale of GE's $1.9 billion of Wabtec stock -- General Electric should have at least $5 billion of net proceeds to use for debt reduction. Other planned divestitures such as the iconic GE Lighting business will likely add to the company's cash proceeds later this year and in 2019.
Thus, investors don't seem to be giving General Electric's management enough credit. CEO John Flannery said last year that he would simplify the company and use the proceeds of its asset sales to pay down debt. He is following through on that commitment. There's no quick fix to GE's current problems, but the company is making the right moves to get healthier in the long run.
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Adam Levine-Weinbergowns shares of General Electric. The Motley Fool owns shares of and recommends Westinghouse Air Brake Technologies. The Motley Fool has adisclosure policy. || 3 Stocks That Turned $8,000 into $64,000: The stock market has roughly doubled since mid-2008, making this an unusually good time to be an investor. Many individual stocks deviated dramatically from that average performance, though.
Today, I'm taking a look at three of the biggest outperformers in the period --Sherwin Williams(NYSE: SHW),lululemon atheletica(NASDAQ: LULU), andMercadoLibre(NASDAQ: MELI)-- which each grew by at least 700% over the past decade.
^SPXdata byYCharts.
Ten years ago, paint giant Sherwin Williams announced a rare annual sales slump and a sharp drop in net income as its industry suffered from the effects of double-digit declines in new home construction and existing home turnover. Worse yet, as the recession spread from the U.S. into global markets, management's outlook turned bleaker. "We believe that the weak demand for paint and coatings ... is likely to continue for the foreseeable future," executives explained in their 2008 annual report.
Yet even at that time there were good reasons to remain optimistic about Sherwin Williams' business. Cost cuts were lifting efficiency levels to new highs, for example, and the company generated almost $900 million in operating cash flow to mark its third straight year of a cash production ratio that was at least 10% of sales.
The business did end up contracting in the following year before beginning to rebound in 2010. Meanwhile, Sherwin Williams has lifted its sales base to $15 billion from less than $8 billion. Earnings in 2017 were $1.8 billion, or nearly four times the $480 million it generated a decade prior.
In 2008, Lululemon operated just 81 locations, which generating $275 million in sales of its yoga-inspired apparel. The retailer had earned success in the Canadian market and executives were encouraged by early results in their U.S. expansion.
Management also believed an "increasing appreciation for the health benefits of yoga and related fitness activities" would support growing demand for its premium apparel products.
Image source: Getty Images.
They were right about that long-term forecast, although the retailer would see more than its fair share of bumps along the way. Quality-control issues harmed the business in 2013, and it took several years for the company to fully recover from that brand hit.
But Lululemon has put those challenges safely behind it. Annual sales are nowon pace to cross $3 billion, and profitability, which is being lifted by innovative product launches, is climbing back toward a record high of 57% of sales.
E-commerce accounted for less than 4% of the broader U.S. retailing world a decade ago, and that number has soared to just under 10% today. But back in 2008, it wasn't clear that these impressive gains would happen, especially in Latin America, which suffered from weak broadband infrastructure and challenges around shopper confidence in using credit cards for online purchasing.
MercadoLibre overcame those issues to post massive growth in the past decade, though. Its marketplace user pool rose to 212 million last year, up from 145 million two years prior, and management believes that footprint means the company has reached a "critical mass of active buyers, sellers, and product listings."
The e-commerce giant is still firmly in growth mode, and its gross and net profit margins both fell last year as itpoured investments into free shipping offeringsand more aggressive marketing. But it's clear that these initiatives are positioning MercadoLibre as a dominant force in its markets. Sales jumped 66% last year, compared to 30% in 2016.
These three winning businesses aren't alike in most respects, but they each created leading brands in industries that ended up growing at unusually fast rates over the past decade. One key takeaway for investors here is that this combination can generate impressive returns, especially over long time periods.
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Demitrios Kalogeropoulosowns shares of Sherwin-Williams. The Motley Fool owns shares of and recommends MercadoLibre. The Motley Fool recommends Lululemon Athletica and Sherwin-Williams. The Motley Fool has adisclosure policy. || Bitcoin Price Outperformed Crypto Hedge Fund Pantera Capital Last Month: Dan Morehead Sometimes it doesn’t pay to diversify — just ask cryptocurrency hedge fund Pantera Capital, whose fund underperformed the bitcoin price last month. According to Bloomberg , the firm’s Digital Asset Fund underperformed bitcoin during May as the cryptocurrency markets continued to decline further from the all-time highs they set in late December and early January. Pantera CEO Dan Morehead acknowledged the poor performance in a monthly investment letter distributed to clients on Tuesday, explaining that the fund had dropped 26 percent for the month and is now down 51 percent in 2018. bitcoin price The bitcoin price , meanwhile, posted a 15 percent decline in May and is also down approximately 51 percent for the year. That may not exactly be an attractive return on investment, but at least it comes without Pantera’s management fee. Pantera’s poor performance in May represented a sharp reversal from April when it rallied 46.2 percent to outperform the flagship cryptocurrency, as well as the crypto market writ-large. Morehead attributed the recent decline to its stakes in Dash, Waves, Bitshares, and OmiseGo, assets which fared poorly during the period. Diversification is a common investment strategy, but its wisdom in regard to the cryptocurrency markets has long been in debate. Individual asset prices remain highly-correlated, and even today the majority of fiat investments flow into the cryptocurrency ecosystem through bitcoin. Cool source with a visual representation of how money flows in crypto. 👇 #bitcoin https://t.co/KJxLKOFiTA pic.twitter.com/WkIPOLewZM — A v B ⚡ (@ArminVanBitcoin) June 15, 2018 Moreover, so-called “bitcoin maximalists” often point to market cap charts from past years as evidence that — at least to date — diversification has been a poor strategy. To wit, just two of the 10 most valuable cryptocurrencies in June 2013 — bitcoin and litecoin — still rank in the top 100. Story continues That’s an extreme situation, given the nascency of the ecosystem at the time, but glances back at market cap charts from years past reveal a number of now-forgotten projects that investors once believed could take bitcoin’s crypto-crown. Nevertheless, off-the-shelf diversified investment products continue to grow in popularity. The Coinbase Index Fund recently began accepting investments from accredited investors looking to purchase at least $250,000 worth of cryptoassets, while firms including Grayscale Investments, OKEx, Huobi, and Bitwise Asset Management have rolled out index-tracking products in recent months. Featured image from Flickr/Techcrunch The post Bitcoin Price Outperformed Crypto Hedge Fund Pantera Capital Last Month appeared first on CCN . || Bitcoin and cryptocurrency is 'the next natural step for the global economy', Imperial academics claim: The debate over whether cryptocurrency will ever replace traditional banking continues - AFP Cryptocurrencies are the "next natural step" for the global economy, academics from Imperial College London have claimed in a new report that suggests people could be paying for their weekly shop in Bitcoin within a decade. The study, commissioned by cryptocurrency exchange eToro, presents research from Professor William Knottenbelt and Dr Zeynup Gurguc, who claim that digital coins like Bitcoin or Ethereum have already passed one of the three fundamental tests to become a bona fide currency: acting as a store of value. They suggest that it is possible that digital coins like Bitcoin could soon fulfil the two remaining roles necessary to become a legitimate currency, such as becoming a medium of exchange by making it easy for people to exchange goods and services and also prove it can be used as a unit of account, acting as a measure of value in the economic system. At the moment long transfer times and amounts of processing power needed to facilitate this means cryptocurrency is limited, plus barriers including lack of technical knowledge by the mainstream and lack of regulation must be overcome. The study comes days after the Bank of England warned City bosses that being lured into the craze could expose their businesses "to reputational risks" and fraud. Treasury crackdown on Bitcoin over concerns it is used to launder money and dodge tax Professor William Knottenbelt said that despite "scepticism", he believed that "cryptocurrencies have already made significant headway towards fulfilling the criteria for becoming a widely accepted method of payment". Iqbal Gandham, UK Managing Director of cryptocurrency exchange eToro said: Given the speed of adoption, we believe that we could see Bitcoin and other cryptocurrencies on the high street within the decade. There are of course barriers to mainstream adoption, but they are far from insurmountable." Dr. Zeynep Gurguc from Imperial, said:New payment systems (or asset classes) do not emerge overnight but it is worth noting that the concept of money has evolved - even in our lifetime - from cash to digital or contactless payments. The wider use of cryptocurrencies and crypto-assets is the next natural step" || The Fed said it's hiking rates four times this year, but here's why the market's not convinced: • The Federal Reserve voted Wednesday to approve a rate increase and indicated two more are coming this year, bringing the total to four.
• However, futures traders give the fourth hike just a little better than half a chance of happening.
• The doubt is fueled over whether the U.S. growth path can continue and if the Fed will want to continue to tighten while its global counterparts remain loose.
The Federal Reserve may have telegraphed a fourth interest rate hike this year, but markets didn't quite get the message.
After the conclusion Wednesday of its two-day meeting, the Federal Open Market Committee, through the so-called dot plot of individual members' expectations, indicated that it would increase rates two more times before 2018 ends .
That would come on top of the quarter-point rate increase the committee approved at the meeting, as well as one already enacted in March.
While the more aggressive tilt normally would trigger a corresponding move in the fed funds futures market, where contracts for the central bank's benchmark rate are traded, the response was minimal.
As of Friday afternoon, traders were implying just a 55 percent chance of a fourth hike in December — a little better than a coin flip and just 10 percentage points or so above the chances before the meeting and the surprise dot-plot change.
There are multiple reasons why the market is not buying into a more hawkish Fed.
Primarily, they center on the belief that the central bank will have limited room to move considering the dovish position of many of its global counterparts. There also are fears that a Fed that is too hawkish could invert the curve on government bond yields and signal a recession.
"I was of the view that the Fed will and should only go twice. Based on the recent data, it looks like the third hike is hard to argue against," said Joe LaVorgna, chief economist for the Americas at Natixis. "I just don't see the Fed being able to go as much as they want given where the curve is and the dots are. If the Fed hikes four times this year, the curve is going to invert in December."
"Maybe they ignore that, maybe it doesn't mean anything, but that would trouble me," he added.
The rate increase came as Fed officials gave the economy high marks, though it took just one member to move his or her dot higher on the chart to tilt the median toward another hike.
Chairman Jerome Powell said that while the Fed is "not ready to declare victory" on its price stability mandate, he added that growth looks strong and able to support the central bank's continued march back toward normalization. The committee kept its benchmark rate anchored near zero for seven years until beginning to hike in December 2015. Wednesday's move pushes the target range for the rate to 1.75 percent to 2 percent.
"The economy has strengthened so much since I've joined the Fed," Powell told reporters at a post-meeting news conference. "Really, the decision you see today is another sign that the U.S. economy is in great shape, growth is strong, the labor market is strong, inflation is close to target. That's what you're seeing."
Still, traders were moved only a little by Powell's optimism.
Two more hikes would translate to a target funds rate of 2.25 percent to 2.5 percent. But traders implied a 2.19 percent funds rate by December, which would get close to but fall short of the Fed's intentions.
What will matter between now and then is data — how much more progress the economy makes toward a 2 percent inflation rate, and whether wage pressures will build that also would compel the Fed to act.
On the other hand, continued unrest in emerging markets and signs that the U.S. bank is getting out of step with the pace of its global counterparts could give officials pause.
Some economists believe the market's skepticism about a more aggressive Fed is ill-founded.
"From the data we look at, there is every reason to believe the economy will more than justify the Fed's proposed trajectory for policy rates," Steve Blitz, chief U.S. economist at TS Lombard, said in a note to clients. "The trajectory for higher policy rates is in place. The market's 'bet' against that happening is what looks wrong."
After all, the U.S. is on the path to possible GDP growth of 4 percent or more in the second quarter that could last throughout the year. The Fed could justify tightening faster than other central banks simply on the grounds that the U.S. is growing much better than most other major developed economies.
Still, Tom Porcelli, chief U.S. economist at RBC Capital Markets, said "client chats" are indicating that "doubts remain."
"Chairman Jay Powell used the word 'great' to specifically describe the backdrop twice and he used 'strong' about a dozen times," Porcelli said in a note. "Any doubts about their conviction on the path they see this hiking cycle taking should be long extinguished."
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• Economic conditions 'too good' for stocks: Market veteran Jim Paulsen || What Happened in the Stock Market Today: Stocks closed the first half of the year with a day of gains. The Dow Jones Industrial Average (DJINDICES: ^DJI) rose today but is still down 1.8% for the year. The S&P 500 (SNPINDEX: ^GSPC) , however, is in positive territory for 2018, up 1.7%. Today's stock market Index Percentage Change Point Change Dow 0.23% 55.36 S&P 500 0.08% 2.06 Data source: Yahoo! Finance. Energy was the strongest sector as the price of crude oil climbed above $74. The SPDR S&P Oil & Gas Exploration & Production ETF (NYSEMKT: XOP) rose 0.4% and was one of the best unleveraged stock ETFs in the first half, up 16.2% so far in 2018. The Consumer Discretionary Select SPDR ETF (NYSEMKT: XLY) has also been one of the best places for money lately, gaining 0.2% today and up 11.4% for the year. As for individual stocks, investors applauded Nike 's (NYSE: NKE) strong earnings report, while Constellation Brands (NYSE: STZ) fell on weak profits. Front of the New York Stock Exchange. Image source: Getty Images. Sales growth kicks in for Nike Nike reported fiscal fourth-quarter results that sprinted past its guidance and Wall Street expectations, and the stock jumped 11.1%. Revenue increased 12.8% to $9.79 billion, well above guidance from three months ago of growth in the "high single digit range" and the analyst consensus for an 8.4% increase. Earnings per share jumped 15% to $0.69, $0.05 above expectations. International sales fueled the gains, but business in North America returned to growth as well, increasing 3% from the period a year ago. Europe, Middle East, and Africa (EMEA) revenue grew 10% in constant currency, sales in Asia Pacific and Latin America were up 13%, and Greater China sales soared a whopping 25%, excluding currency effects. Apparel was the strongest category, growing 15% in constant currency, while growth in footwear was 8%. The NIKE brand overall grew 14% (9% excluding currency effects), while revenue from the Converse brand fell 14% ex-currency due to changes in wholesale distribution in North America and EMEA. Gross margin expanded by 60 basis points, due to accelerating full-price sales and expanding digital sales, which grew 41%. Story continues The growth in North America was a welcome development for investors, as was the acceleration of international sales and the announcement of a four-year, $15 billion share repurchase program. Constellation Brands loses some fizz Shares of Constellation Brands tumbled 5.6% after the company missed profit expectations for fiscal first-quarter results. Net sales grew 6.2% to $2.05 billion and comparable (non- GAAP ) earnings per share fell 6% to $2.20. Analysts were expecting an increase in EPS to $2.43 on sales of $2.04 billion. Net sales for the beer division, a source of strength for the company in recent quarters , grew 11% and depletion volume -- the sales from distributors to retail locations -- increased approximately 9%. Operating income, however, managed only 4.5% growth due to planned marketing investments, higher transportation costs, and unfavorable currency effects. Constellation's wine and spirits business saw sales fall 2.5% and operating income decline 16.8%. On the conference call, company officials defended their decision to maintain full-year guidance for comparable EPS in the range of $9.40 to $9.70 despite the relatively weak performance last quarter. Analysts seem to doubt the credibility of that forecast now, especially considering the fact that the higher transportation costs that should continue throughout the year. The analyst consensus of $9.73 for the year is almost certain to drop, adding fuel to the stock's decline. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jim Crumly has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Nike. The Motley Fool has a disclosure policy . || Micron Investors Might Have a Tough Decision to Make Soon: The blistering growth in memory prices over the past couple of years has takenMicron Technology's(NASDAQ: MU)business to the next level. The chipmaker has enjoyed terrific top- and bottom-line momentum thanks tobooming memory demandthat has outpaced supply, but cracks could soon appear in its primary growth engine.
Image Source: Getty Images.
Just like Micron,SK Hynix(NASDAQOTH:HXSCL)andSamsung(NASDAQOTH:SSNLF)are also riding the memory price boom. The operating profit of Samsung's semiconductor business nearly doubled during the first quarter of 2018 thanks to the strong demand for NAND (negative-AND) flash and DRAM (dynamic random access memory) chips. SK Hynix, meanwhile, saw a 77% jump in first-quarter operating income on the back of similar catalysts.
Such terrific growth at Samsung and SK Hynix, which together hold almost half of the NAND flash market and nearly three-fourths of the DRAM market, could lead investors into believing that the industry's momentum is here to stay. However, this massive earnings growth seems to have made both Samsung and SK Hynix overconfident and greedy.
I say overconfident because both seem to believe that the price momentum is here to stay, and greedy because they are going to boost their memory production capacity. For instance, Samsung has set aside another $12 billion to make DRAM chips at a second semiconductor production line in South Korea's Pyeongtaek, which it plans to complete in the second half of 2019. The South Korean giant had earlier spent over $14 billion on a NAND flash production line that it is currently busy ramping up.
SK Hynix, on the other hand, announced a $2.6 billion investment at the end of 2016 for building a NAND flash facility in China, and also for upgrading a DRAM plant. It expects this facility to go into production late next year.
Micron doesn't want to be left behind in this race and the chipmaker recently broke ground on a new facility in Singapore to make 3D NAND that it expects to complete by late 2019, and it will reportedly spend "billions of dollars" on this facility, according to AnandTech.
These chipmakers are hoping that all the new production that's going to come into the market will be absorbed by smartphones, servers, the Internet of Things, and other emerging tech trends such as autonomous cars. But an increase in demand isn't guaranteed just yet. For instance, both SK Hynix andTSMChave warned of a slowdown in smartphone chip sales this year.
Smartphone sales fell 5.6% in the fourth quarter of 2017, followed by a 2.9% drop during the first quarter of 2018. What's even more alarming is that Chinese smartphone sales growth came to a halt in 2017 after eight years.
So, the smartphone industry seems to be maturing, and this spells bad news for both NAND and DRAM demand as smartphones reportedly account for a third of global memory chip demand.
The demand-supply parity in the NAND business has started hurting Micron already. Its NAND revenue dropped 3% sequentially in the most recent quarter, as an increase in shipments was negatively offset by a mid-teens percentage drop in the average selling price. As a result, the segment's gross margin dropped 2 percentage points sequentially.
NAND prices reportedly fell between 3% and 10% during the first quarter of the year, and a steeper drop of 10% to 15% is projected in the current quarter. The price declines could accelerate as more NAND supply comes into the market thanks to the capacity investments being made by SK Hynix and Samsung. Some estimates suggest that NAND supply is expected to rise 43% this year as compared to a 34% increase in 2017.
Meanwhile, Micron's DRAM business is still in good shape, as average selling prices had increased in the mid-single digits last quarter, but higher production and lower smartphone shipments could make things ugly. For instance,AppleCFO Luca Maestri said that mobile DRAM prices will peak by the end of the year, and this prediction doesn't look like a long shot considering the dynamics at play in the smartphone space.
Micron grew impressively last quarter despite the NAND decline as it gets 71% of its revenue from the DRAM segment. But if DRAM prices start taking a turn for the worse, the chipmaker will be in deep trouble.
UBS analysts believe that DRAM prices could crashas much as 50%in the second half of 2018 as new production comes online. UBS' forecast might seem too aggressive, since we saw that the wave of new production capacity could come online only by next year, but this still means that Micron might have just one good year left before it gets crushed by unfavorable market dynamics.
Even then, Micron will remain under pressure, as investors will be on the lookout for potential signs of weakness in the memory industry and likely won't be afraid of pulling the trigger to sell the stock if they find negative developments. And, in my opinion, they will be right in doing so, because Micron has a terrible record when faced with unfavorable chip prices.
For example, Micron had a really bad time back in 2015 and 2016. Weak PC demand coupled with industry oversupply led to a 50% crash in DRAM prices in 2015, which was followed by a 20% slump for the majority of 2016. And this led to the following drops in revenue and gross profit margin:
MU Revenue (TTM)data byYCharts
The above chart is a far cry from what Micron investors have experienced since the recovery started in the second half of 2016, so they may soon have to decide if they want to start booking profits in case DRAM and NAND prices get into a downward spiral.
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Harsh Chauhanhas 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. || Google’s $550 Million Investment in JD.com Could Be a Game-Changer: Alphabet 's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google recently announced that it will invest $550 million in cash in JD.com (NASDAQ: JD) , the second largest e-commerce player in China after Alibaba (NYSE: BABA) . Google will receive 27 million newly issued JD.com Class A shares at an issue price of $20.29 per share. That's equivalent to $40.58 per ADS based on the stock's volume-weighted average trading price over the past ten trading days. The two companies stated that they would co-develop retail infrastructure for personalized, lower-friction shopping experiences across several markets, including Southeast Asia. Let's examine how this deal could benefit both companies. A businessman waters a plant surrounded by gold coins. Image source: Getty Images. How this deal helps JD Back in January, Bloomberg reported that JD was raising funds for an expansion into the US. JD plans to offer some of its marketplace products in the US and Europe through Google Shopping, its product search and price comparison platform. That move could help it counter Alibaba's AliExpress platform for overseas customers, while complementing the growth of JD Worldwide, its subsidiary which lets Chinese consumers purchase goods from other countries. A strategic partnership with Google could also help JD sidestep some of the escalating trade tensions between the US and China. Google's support would also bolster JD's ability to counter Alibaba's overseas expansion. Alibaba-backed Lazada is currently the e-commerce leader in Southeast Asia. Lazada's top rival, Sea Limited 's Shopee, is backed by Chinese tech giant Tencent , which is also JD's top investor. JD expanded its own platform into Indonesia in 2015, and last year it invested in the country's ride-hailing service Go-Jek and set aside $500 million for e-commerce and fintech joint ventures in Thailand. The company also invested in Vietnamese e-commerce firm Tiki.vn earlier this year. Singapore's waterfront. Image source: Getty Images. Google is the top search engine by a wide margin in top Southeast Asian markets like Singapore, Malaysia, Indonesia, and the Philippines. If Google integrates JD into its search engine across all these markets, it could strengthen JD's position against Lazada. If those efforts pay off, JD and Google could expand their partnership to other overseas markets. Story continues Moreover, Google's investment helps solidify JD's positioning, which has been less certain this year due to ongoing concerns about its rising expenses and competition from Alibaba. How this deal helps Google Despite owning the top search engine in the world, Google trails behind Amazon (NASDAQ: AMZN) in product searches and e-commerce. Challenging Amazon in mature markets like the US seems futile, so it's logical to expand into markets where Amazon lacks a meaningful presence. Amazon controls less than 1% of China's e-commerce market, and only recently established a foothold in Southeast Asia in Singapore. Google likely saw China and Southeast Asia as growth markets for its product search and e-commerce efforts, but realized that market leader Alibaba probably wasn't eager to make a deal. Therefore it made more sense to follow Tencent's lead and invest in JD. Partnering with JD could also help Google reenter the mainland Chinese market, which it exited in 2010 after clashing with government regulators. This wouldn't be Google's first step back into China -- it announced the development of its first Asia-based AI center in Beijing last year. Those moves could serve as stepping stones toward Google relaunching its search engine in China -- which Google CEO Sundar Pichai has hinted at in the past. The key takeaway Google's investment in JD will likely help both companies over the long term. The deal probably won't move the needle for Google right away, but it could be a smart way to counter rivals like Alibaba and Amazon in high-growth markets like Southeast Asia. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Leo Sun owns shares of Amazon, JD.com, and Tencent Holdings. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Amazon, JD.com, and Tencent Holdings. The Motley Fool has a disclosure policy . || Yahoo Finance's stock market outlook, June 15: The Nasdaq is back at a record high. A mixed stock market on Thursday saw tech stocks lead the way as the Nasdaq added 0.85%, or 65 points, to make a new closing record high of 7,761.04. Financial stocks were the laggard on Thursday, dragging down both the Dow and the S&P 500, with the Dow losing 0.1% and the S&P 500 gaining a modest 0.25%. Investors on Thursday were also met with big news out of the crypto space, with SEC director of corporate finance William Hinman saying at Yahoo Finance’s All Markets Summit: Crypto in San Francisco that neither ether nor bitcoin would likely be classified as securities. “Can a digital asset originally sold in a securities offering eventually be sold in something other than a security?” Hinman asked. “How about cases when there’s no longer a company [involved]? I believe in those cases [the] answer is a qualified yes.” This news sent the price of both coins — as well as other major cryptocurrencies including Ripple, Bitcoin Cash, and Litecoin — sharply higher. The price of both bitcoin and ether rose sharply on Thursday after an SEC official said neither coin is a security. (Source: Yahoo Finance) Turning to the calendar for Friday, the economics schedule will have a few pieces of data to close out the week, with the University of Michigan’s preliminary reading on consumer sentiment in June, as well as the Fed’s latest reading on industrial production both set for release. The University of Michigan’s report is expected to show a slight increase in the gauge of consumer sentiment from May’s final reading, while industrial production is expected to show a 0.2% increase in May, a slight moderation from April’s 0.7% uptick. Investors will also be keeping a close eye on the Bank of Japan’s latest monetary policy announcement, set for release late Thursday evening Eastern Time. Additionally, the Trump administration is set on Friday to release a list of Chinese goods that will be subject to tariffs. According to Bloomberg, the timing on implementing these tariffs is unclear. And on the earnings side, there’s nothing on the schedule. Plain English Federal Reserve Chair Jerome Powell would like to be clear. Story continues “I know that a number of you will want to talk about the details of our announcement today, and I am happy to do that in a few minutes,” Powell said at the beginning of his press conference that followed the Fed’s latest policy announcement on Wednesday . “But because monetary policy affects everyone, I want to start with a plain-English summary of how the economy is doing, what my colleagues and I at the Federal Reserve are trying to do, and why. ” (Emphasis ours.) And with the assertion that the Fed and other central banks ought to be using simpler language to describe their policy moves, Powell brings the Fed into a clearly new era. Federal Reserve Chair Jerome Powell arrives to a news conference after the Federal Open Market Committee meeting, Wednesday, June 13, 2018, in Washington, D.C. (AP Photo/Jacquelyn Martin) It’s an era in which the Fed is raising interest rates into an economy that is doing well, but has seen uneven results for many. And an era when the inevitable future recession — which could happen in two years or ten — still feels distant to many who may not remember the central role the Fed plays in managing the economy through these downturns. “The main takeaway is that the economy is doing very well,” Powell said. “Most people who want to find jobs are finding them, and unemployment and inflation are low. Interest rates have been low for some years while the economy has been recovering from the financial crisis. “For the past few years, we have been gradually raising interest rates, and along the way, we have tried to explain the reasoning behind our decisions. In particular, we think that gradually returning interest rates to a more normal level as the economy strengthens is the best way the Fed can help sustain an environment in which American households and businesses can thrive. Today, we have taken another step in that process by raising our target range for the federal funds rate by a quarter of a percentage point.” And all the way up until that last sentence, people who don’t pay close attention to the economy should be able to clearly understand what Powell is saying — things are good for many people, and the economy is in good shape. So while the target audience for Powell’s discussion of the economy is not a markets-oriented crowd, his push to make Fed communications less opaque should be welcomed by markets as well as the general public. After the financial crisis, Fedwatching — the activity of parsing every communication from every Fed official for clues on how monetary policy might change — became a skill unto itself. But that era is over. And as the Powell era begins to pick up steam, perhaps tracking the Fed will seem less an exercise in fortune-telling and more an exercise in following directions. Clearly. — Myles Udland is a writer at Yahoo Finance. Follow him on Twitter @MylesUdland The US housing market has an inventory problem Oil prices won’t hurt the economy until they hit $120 a barrel This chart explains why Warren Buffett’s lieutenant spends all his time on one project The market thinks Trump’s tax cuts are a hollow win for corporate America || Oil Price Fundamental Daily Forecast – Shortfalls from Libya, Canada Could Be Supportive: U.S. West Texas Intermediate and international-benchmark Brent crude oil futures settled lower on Monday after an early rally failed to gain traction. The market was supported by reports of an outage at Syncrude Canada’s 360,000 barrel per day oil sands facility that could last through July.
Also supporting prices was uncertainty over Libyan oil exports, but dragging prices lower was OPEC’s plan to raise output. There were also reports circulating that the United States may ask Russia to increase output in an effort to lower prices.
Crude oil futures are trading mixed early Tuesday with U.S. oil modestly higher and the international favorite slightly lower.
At 0532 GMT,August WTI crude oilis trading $68.25, up $0.17 or +0.25% andSeptember Brent crude oilis at $74.69, up $0.14 or +0.19%.
Trading in the oil market could get a little complicated over the next several days as investors continue to digest the details of last Friday’s OPEC decision to raise output. This could fuel a volatile, two-sided trade. Not only are investors trying to figure out the direction of prices, but they are also trying to determine the impact of OPEC’s move on WTI and Brent crude oil.
In addition to trying to assess the impact of the decision by OPEC to raise output, traders are also facing uncertainty around oil exports by Libya and a supply disruption in Canada.
Helping to contribute to the two-sided trade is uncertainty as to the impact of announced U.S. sanctions against Iran, and a possible tariff on U.S. imports into China. Because of this, investors aren’t sure if the output will come in north or south of about 600,000 barrels per day.
In my opinion, I think the fundamental news is supportive for higher prices, but because of last Friday’s nearly 5 percent rise, investors may be unwilling to chase prices higher at current levels. Since most of the rally was short-covering, I expect to see a short-term pullback into a value zone that should be attractive to new buyers.
I’m bullish because shortfalls from Libya and Canada were not factored into OPEC’s decision to raise output. They were primarily looking a reduced figures from Venezuela and Iran. If these conditions continue to linger then we should have a supply deficit later in the year.
Investment bank Jefferies says, “Despite the OPEC agreement we believe that tight supply is likely to drive oil prices higher during 2018.” Bank of America Merrill Lynch said tight market conditions would push Brent prices to $90 per barrel by the second quarter of 2019.
While the fundamentals appear to be supportive for a rally, gains could be limited if Russia agrees to a U.S. request to increase production. We may not know the details about this agreement, however, until U.S. President Trump meets with Russian President Putin in July.
Thisarticlewas originally posted on FX Empire
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[Random Sample of Social Media Buzz (last 60 days)]
Korea price
Time: 07/10 00:11:06
BTC: 7,525,250 KRW
ETH: 539,162 KRW
XRP: 534 KRW
#Bitcoin #Ethereum #Ripple || On Thursday the Blockchain, Bitcoin, Ripple, Ether, Litecoin, #Bitcoin Miners meetup is hosting Hyperledger Meet & Greet - WPB at Mandel Public Library of WPB (Clematis Room). Info here: http://j.mp/2INdSc7 || Good everning! The current price of Bitcoin is $ 6185.00. || Cotización del Bitcoin Cash: 763 30.€ | -0.35% | Kraken | 12/06/18 21:00 #BitcoinCash #Kraken #BCHEUR || @SMhaboob @MMFlint @vbhvsgr
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https://docs.google.com/forms/d/e/1FAIpQLSfIv6y3eTtLd671Jf1mZNaeFcBTKxNyBCmacRmP5cG_2EC2XQ/viewform?usp=pp_url … || Price: $6,502.19
1h: 0.43%
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#Bitcoin #BTC || 1 SuperiorCoin = 0.00000010 BTC. SuperiorCoin has not changed in 30 mins. Live price: https://bit.ly/2JPe6Ah?30590364157643916 … #SuperiorCoin $SUP #cryptocurrency || 2018-06-24 03:00:05 UTC
BTC: $6118.13
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Trend: up || Prices: 6276.12, 6359.64, 6741.75, 7321.04, 7370.78, 7466.86, 7354.13, 7419.29, 7418.49, 7711.11
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
PowerBTC is Offering Higher Price for Bitcoin Sellers: NEW YORK, NY / ACCESSWIRE / August 1, 2016 /PowerBTC LLC (www.PowerBTC.com), a cryptocurrency trading company based in New York, today announces that the company has launched an attractive offer for Bitcoin sellers worldwide.https://youtu.be/h-cffzcrEI8.
The company is offering its clients the possibility to sell their Bitcoin for a price which is higher than the one offered by other cryptocurrency markets, depending on the amounts they intend to sell and the recurrence of their transactions with PowerBTC.
Within this approach, the company keeps track of its clients and the amounts they sell by enlisting them within the company's secured data bases. All the information being saved is the clients' e-mail address and the amount of Bitcoin they have sold to PowerBTC. By filing this data, PowerBTC's operators are able to access the client's business history with the company and tailor special offers, encouraging the client to return for more and thus enabling a high retainment rate within the company's portfolio, while also developing the business in a sound and healthy manner. Such strategy aims to encourage both prospects and the existing clients of the company.
Extracted from the company's transactions history, the price for Bitcoin on PowerBTC on July 29th was USD 734, while, on the same date, Blockchain's official price was USD 660.
While the offer may appear to be a bit chaotic for the regular seller, the mechanism behind it is based not only on the company's appetite for Bitcoin purchase, but also on the outcome of the Bitcoin PowerBTC is reinvesting, together with a sophisticated calculus and certain principles common within any financial services business.
Tom Clark, Founder and CEO of PowerBTC, expressed his confidence in the fact that the new strategy, together with the investment budget approved by the Board, has made just the right marketing combination in order to overcome the entire competition on the Bitcoin exchange market.
PowerBTC LLC. is proud to offer not only very good business terms to its clients, but also excellent services and assistance throughout the entire transaction process. More information can be found on PowerBTC's official web-site:www.PowerBTC.com.
CONTACT:
Email :[email protected] : (917) 979-2728
SOURCE:PowerBTC LLC || Bitcoin 'miners' face fight for survival as new supply halves: By Jemima Kelly KEFLAVIK, Iceland (Reuters) - Marco Streng is a miner, though he does not carry a pick around his base in south-western Iceland. Instead, he keeps tens of thousands of computers running 24 hours a day in fierce competition with others across the globe to earn bitcoins. In the world of the web-based digital currency, it is not central banks that add new money to the system, but rather computers like Streng's which are awarded fresh bitcoins in return for processing blocks of the latest bitcoin transactions. Bitcoin can be used to send money instantly around the world, using individual bitcoin addresses, free of charge with no need for third party checks, and is accepted by several major online retailers. The work Streng's computers and others do serves two purposes: they record and verify the roughly 225,000 daily bitcoin transactions and - because they earn new bitcoins for the work they do - steadily increase the currency in circulation, currently worth around $10 billion. The process has come to be known as "mining" because it is slow and intensive, reaping a gradual reward in the same way that minerals such as gold are mined from the ground. But on Saturday, the reward for miners will be slashed in half. Written into bitcoin's code when it was invented in 2008 was a rule dictating that the prize would be halved every four years, in a step designed to keep a lid on bitcoin inflation. From around 1700 GMT on Saturday, instead of 25 bitcoins up for grabs globally every 10 minutes, worth around $16,000 at the current rate (BTC=BTSP), there will be just 12.5. That means only the mining companies with the leanest operations will survive the ensuing profit hit. "The most important thing is to be the most efficient miner," said Streng, the 26-year-old co-founder of German firm Genesis Mining, which has "mining farms" in Canada, the United States and eastern Europe, as well as in Iceland. "When the others drop out, that means that they leave the market and give you a bigger share of the pie." Story continues SOLVING PUZZLES The currency was founded eight years ago by a person or group using the name Satoshi Nakamoto, whose real identity has not been established. It was set up to operate independently of any single authority, instead relying on a decentralized global network. Because the bitcoin miners operate autonomously, it is hard to track their numbers and size. But in terms of computing capacity it was estimated earlier this year that the network is 43,000 times more powerful than the world's top 500 supercomputers combined. Computers like Streng's solve complex, automatically generated mathematical puzzles to help secure each block of transactions and keep the bitcoin network safe from hacking or manipulation. For bitcoin users, that security is one of the currency's main attractions. After the first miner secures a block of transactions, its work is verified by the other miners in the network, and that block is added to the "blockchain" - a shared record of all the transaction data - which is virtually impossible to tamper with. The mining, therefore, keeps the whole system going. Bitcoin is now accepted by major organizations including U.S. online retailer Overstock.com and travel company Expedia. The speed and anonymity of bitcoin transactions, and lack of a central authority overseeing the currency, has drawn in many users, including those who want to get around capital controls. It has also attracted investors who see it as a potentially lucrative commodity in itself. KEEPING COOL Bitcoin mining started out as a hobby for tech geeks using their home computers in the early years of the virtual currency, but has become more specialized as bitcoin usage expands. As the bitcoin price has risen, as transaction numbers have grown and as the computers have become so specialized that they can only perform the function of bitcoin mining, a whole industry has emerged. It can be profitable if firms are able to keep their expenses low. But the costs of running these machines, which cost around $1,800 each, and keeping them cool are fiendishly high. Streng reckons that, on average, it costs about $200 in electricity, including cooling power, to mine one bitcoin. Equipment, rent, wages and business running costs are on top. On Saturday, all else being equal, the halving of the reward will double that cost, to $400, leaving a small margin for profit at the current exchange rate of around $640 per bitcoin. In the same remote region of Iceland as the Genesis mining farm, on a former Cold War U.S. military base lies a bitcoin mining facility belonging to U.S. firm Bitfury. A nearby sub-station means electricity transmission costs are minimal. In the farm's two vast buildings, tens of thousands of mining machines whir away, producing a huge amount of heat, so the buildings are open to the cold Icelandic air at either side, save for particle filters to trap dust. Fans in the ceiling allow hot air to escape, but spin so fast that no rain or snow can enter during the winter. The noise produced by computers and fans is deafening. It is no coincidence that so many mining companies have chosen to build farms in Iceland - Chinese giant Bitmain also has a huge farm there. The volcanic island's cheap, bountiful, renewable energy supply, good internet connectivity, and cool temperatures make it an ideal location. The Icelandic authorities welcome the boost to the economy that the bitcoin miners have brought -- Bitmain opened its farm after an approach by the Icelandic embassy in Beijing. Genesis's Streng says he is such a valued client that the Icelandic energy companies fly him around in helicopters. Bitfury CEO Valery Vavilov, who estimates electricity makes up between 90 and 95 percent of bitcoin mining costs, says one way his firm stays competitive is by making its own hardware. He also says the company, founded in 2011, is prepared for the mining reward cut. "We're prepared - we already went through one halving event in 2012," he said. "You can forecast this...so you have time to prepare, and if you're prepared you can live quite easily." Vavilov, and other miners, say the prospect of new supply halving has already helped drive bitcoin up over 50 percent this year, which should help ease the pain. COMPETITION FROM CHINA Despite the fact that the halving was expected, and that the price has risen, it has already claimed one casualty: Sweden's KnCMiner filed for bankruptcy at the end of May, citing the hit to its profits that the reward cut would bring. Daniel Masters, who runs a Jersey-based bitcoin hedge fund and who bought a part of KnC's business, said the Swedish firm, like everybody else, had faced competition from miners in China, which are estimated to make up more than two-thirds of the bitcoin network's computing power, or "hashpower". "It turned out that the Chinese, who really stormed into the mining market in the last couple of years, could just do this whole thing cheaper," Masters said. Some Chinese miners get hydroelectric power from disused dams, while others use cheap coal-powered electricity. Bitfury and Genesis, though, say their lean operations allow them to fight off the competition. Genesis, for example, keeps cost down by remotely monitoring conditions in its mining farms and adjusting its fans and cooling accordingly. And the next time the mining reward is halved, in 2020, they hope the number of bitcoin transactions will have grown sufficiently to mean that the small fees paid by users will make up enough of their income to smooth out the profit cut. "By 2020 we will definitely have had the tipping point," said Bitfury's Vavilov. (Reporting by Jemima Kelly; Editing by Dominic Evans) || 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 || After mass shooting, German police focus on 'dark net' crime: By Frank Siebelt WIESBADEN, Germany (Reuters) - German police will do more to fight crime committed on the "dark net", they said on Wednesday, days after a gunman killed nine people with a weapon bought on that hidden part of the internet. "We see that the dark net is a growing trading place and therefore we need to prioritise our investigations here," Holger Muench, head of Germany's Federal Police (BKA), told journalists as he presented the latest annual report on cyber crime. The dark net, which is only accessible via special web browsers, is increasingly used to procure drugs, weapons and counterfeit money, allowing users to trade anonymously and pay with digital currencies such as Bitcoin, the BKA said. The man who killed nine people at a shopping mall in Munich on Friday was a local 18-year-old obsessed with mass killings who had bought his reactivated 9mm Glock 17 pistol on the dark web, Bavarian officials said. The BKA said it had taken five market places in the dark net out of circulation last year. Muench said the BKA did not just want to take the sites offline but also catch criminals using them. Cyber crime cost Germany 40.5 million euros ($44.5 million) last year, the BKA's report said, a rise of 2.8 percent. Most of the more than 45,000 cases involved computer fraud. Muench said the figures only represented a small part of the true size of cyber crime. "If we look ahead we see little relief," he said. "Cyber crime is still a growing phenomenon - you could say almost a growing business, even a growing industry." Police solved 32.8 percent of cyber crime last year, Muench said, adding that many crimes do not get past the exploratory phase and others go unnoticed or are not reported. ($1 = 0.9098 euros) (Writing and additional reporting by Caroline Copley; Editing by Robin Pomeroy) || If you follow Warren Buffett's methodology, stocks are significantly overvalued: When I turned bearish in January 2016 I missed three critical elements that caused the S&P 500 to grind toward record highs. First, a sufficient number of other investors did not share my skepticism about the global economy. Second, I misjudged investor faith in central bankers. Third, I underestimated the continued global appetite for yield bearing stocks. However, in recent days a host of big money investors have been vocally bearish. Does this mean the herd is turning and that I may have just been early? Perhaps, but what are these investors seeing that has led them to embrace my skepticism? Risk versus reward.
Big money understands that investing is more about balancing risk and reward than about being "right." Investing is a game of probability, and since nobody has a crystal ball, the best we can all do is make educated guesses and place bets when the odds are in our favor. The odds may no longer be in equity investor's favor.
Warren Buffett is one of the biggest investors in the world and his preferred method for valuing the stock market is now suggesting that U.S. stocks are significantly overvalued. Buffett has stated that using Total Market Capitalization to GDP is "probably the best single measure of where valuations stand at any given moment." For those who want to dig deeper into this valuation metric the websiteGurufocus.comis a great resource.
Currently, the ratio of Total Market Cap (as measured by the Wilshire Total Market Index(NYSE Arca: .W5000FLT)) to GDP is 121 percent. There is only one other time since 1971 that this ratio has registered such an overvalued reading…that was in December of 2000. Moreover, GuruFocus has tracked market returns using this indicator and at current levels it suggests the total expected yearly return for U.S. stocks is 0.1 percent, including dividends. The current dividend yield is roughly 2.04 percent, which means this indicator is forecasting that stocks will fall by 2 percent over the next year.
Think about that for a minute. The preferred valuation metric of the world's most successful and wealthiest investor is suggesting that there is little to no upside for stocks. When big money tries to calculate the risk of investing against the reward, a negative return will simply not compute. To my mind, this could be the reason that the likes of high-profile investors Jeff Gundlach and Bill Gross have suggested either selling everything or buying gold.
In addition to the lack of reward, faith in the ability of central bankers to manufacture an economic recovery is being challenged. Over the last few trading sessions the yield on Japanese government bonds have jumped the most since 2013. In the aftermath of the 2013 Japanese yield spike the Japanese stock market fell more than 7 percent
Will history repeat?
Japanhas been the laboratory for experimental monetary policy for the better part of 20 years. Recently the head of theBank of Japancalled for a review of current policy to be released in September. The market reaction to this anticipated review has been decidedly negative. The implication is that investors fear the Bank of Japan will admit defeat and no longer engage in market manipulation. I personally have my doubts that it will abandon its policies, but the crisis of faith is catalyst enough for investors to sell. Yet another reason big money is turning bearish.
Finally, the search for yield is showing signs of coming to an end. Since the February 2016 market lows, the iShares Select Dividend ETF(NYSE Arca: DVY)(DVY) is up 17.5 percent, but interestingly the lower yielding Spyders ETF(NYSE Arca: SPY)(SPY) is up 18.23 percent. To be sure the outperformance of the lower yielding SPY is a recent phenomenon, but cracks in the foundation are appearing.
Big money is turning bearish because the reward does not justify the risk. The market cap of U.S. stocks has far exceeded the value of GDP, typically a sign of negative stock market returns. The recent spike in Japanese yields has shaken investor faith in omnipotent central bankers, while the horn is blowing "Going Home" on the hunt for yield.
For a few weeks in February my bearish view was accurate, but the fullness of time has proved I miscalculated the skepticism of others, the faith in central bankers and when the hunt for yield would end. Perhaps the recent growls from prominent investors is a signal that the herd is turning, but the truth is only time can tell. What is clear to me is that the risk of owning stocks is simply not justified by the reward. I continue to remain defensive on U.S. equities and share the bullish view on gold.
Brian Kelly is founder and managing member of Brian Kelly Capital LLC, a global macro investment firm catering to high net worth individuals, family offices and institutions. He is also the creator of the BKCM Indexes, benchmarks for multi-asset money managers. He's also the author of the "The Bitcoin Big Bang: How Alternative Currencies Are About to Change the World."Kelly, a CNBC contributor, often appears on "Fast Money." Follow him on Twitter@BKBrianKelly.
For more insight from CNBC contributors, follow@CNBCopiniononTwitter. || 'Grumpy hold-outs' could sink Bitfinex recovery plan after Bitcoin theft: By Clare Baldwin HONG KONG (Reuters) - Crypto-currency exchange Bitfinex's plan to impose losses on all its trading clients for the theft by hackers of $72 million in Bitcoin rests on two flawed pillars, according to lawyers. The Hong Kong-based exchange said on August 2 that hackers had stolen 119,756 bitcoins from some clients' accounts, the second-biggest such hack in dollar terms, and later said it would spread the losses across all its customers, whether or not they had been hacked or even held bitcoin. It said customers would forfeit 36 percent of their holdings and be given "BFX tokens" instead that could be redeemed by the exchange or converted to shares in its parent company iFinex. Both elements of the plan are open to legal challenge, lawyers said. Imposing losses on customers who were not hacked appears to go against the company's terms of service, said Ryan Straus, a Fenwick & West lawyer who advises financial technology companies on regulation and co-authored the U.S. chapter of a book on bitcoin law. The terms state "bitcoins in your multi-signature wallets belong to and are owned by you", which Straus said implied a special banking relationship with clients that the Bitfinex plan would breach. "The depository ... is obligated to return, on demand, the same monetary objects deposited," he said, quoting a line from his book. The exchange's tokens could also be problematic, said Zach Zweihorn, a lawyer at DavisPolk who specialises in U.S. securities and trading laws. The way they are currently being described - redeemable by the exchange or convertible to shares in iFinex - places them somewhere between a bond and a security and makes it highly likely that issuing them and trading them would require licences in the U.S. that Bitfinex doesn't have. "If they are issuing an equity interest in their parent company, I don't really think the fact that it's evidenced through an electronic token ... really changes the analysis of whether it's a security," said Zweihorn. The U.S. Securities and Exchange Commission did not return a request for comment. Bitfinex did not respond to requests for comment on either issue. "ROBBED" Bitfinex's website acknowledges there are "protocol level details" still to be worked out for the tokens, and that U.S. residents can sell but not buy them for the time being. "I feel like I was robbed," a 33 year-old investor who had a five-figure U.S. dollar amount on the platform told Reuters. He said he took a 36 percent "haircut" across all assets, including U.S. dollar reserves, and as a U.S. trader he couldn't properly deal in the IOU token. "Basically they took customers' funds in order to try to stay afloat. Nowhere in their terms of service did it mention that this was a possibility," said the user, who works in the financial services industry. Bitfinex is nevertheless hoping that traders will be patient and accept that they won't get a better deal if legal challenges force it into liquidation. "This is the closest approximation to what would happen in a liquidation context," it told traders in a blog post a week ago, while the tokens gave them some hope of ultimately recovering their losses. Traders will be aware of the fate of Tokyo-based crypto-currency exchange Mt Gox, which suffered the biggest bitcoin theft of all time in 2014, and consequently went bankrupt. Traders have not recovered any losses, and court proceedings are still ongoing. "People are afraid to see their assets completely frozen if they sue Bitfinex too early," said 28-year-old Nathan Bourgeois, who is based in France and moderates a 2,000-member traders' messaging group called Whaleclub under the username dr Helmut. He said he thought people would agree to the deal if there was a chance of getting some of their money back. But Patrick Murck, a fellow at Harvard University's Berkman Klein Center for Internet & Society, said the Bitfinex plan was unlikely to survive a legal challenge. "It might be a pyrrhic victory. You might still end up with less money," said Murck, who is also co-founder of the Bitcoin Foundation and its former general counsel, but the "odds are fairly low" that nobody will test it in court. "It takes one grumpy hold-out ... to blow the whole thing up, he said. (Reporting by Clare Baldwin; Additional reporting by Hera Poon and Tris Pan; Editing by Will Waterman) View comments || Hacker Group Claims to Be Selling NSA Files: UPDATED Tuesday morning with Edward Snowden's comments, Tuesday afternoon with a comprehensive list of purported NSA tools referenced in the data dump and Friday morning with a statement from WatchGuard Technologies. It's either a very elaborate hoax, or it's evidence that someone has hacked into the U.S. National Security Agency. On Saturday (Aug. 13), tweets and other online postings from a new group calling itself "Shadow Brokers" said that it was auctioning off files stolen from the "Equation Group." Equation Group is Kaspersky Lab's name for an extremely sophisticated cyberespionage group with ties to the Stuxnet computer worm, which in 2010 damaged Iranian nuclear-fuel-processing facilities. The unspoken understanding is that the Equation Group is part of the NSA. "We hack Equation Group. We find many many Equation Group cyber weapons. You see pictures. We give you some Equation Group files free, you see. This is good proof no?" read an entertaining message posted on Pastebin by Shadow Brokers. "You enjoy!!! You break many things. You find many intrusions. You write many words. But not all, we are auction the best files." MORE: 7 Ways to Stop NSA Spying on Your Smartphone As proof, Shadow Brokers posted links to various file-sharing services, from which a 235MB Zip file could be downloaded. Shadow Broker said that the Zip file was just a sample of the Equation Group files it had. Security experts who have looked at the files say they bear names like EGREGIOUSBLUNDER, ELIGIBLEBACHELOR and ESCALATEPLOWMAN, and detail ways to get through commercially available firewall software. Documents leaked in 2013 by former NSA contractor Edward Snowden, along with other evidence, indicated the existence of NSA tools with similarly sillly-sounding names, such as IRATEMONK, STELLARWIND and EGOTISTICALGIRAFFE. Hoax or not, some of the files in the Shadow Brokers data dump appear to be genuine malware, said researchers. Story continues "There are actual exploits in the dump, with a 2013 timestamp on files," wrote Matt Suiche , a well-known French security researcher, in a Medium post Monday (Aug. 15). "We do not know if they are working as nobody has tried them, but they are actual exploits and not only references." "Equation Group's ELIGIBLECANDIDATE exploits an RCE [remote code execution] vulnerability in HTTP cookies in a TOPSEC firewall CGI script," tweeted Mustafa Al-Bassam , a British researcher who was once a member of the Lulzsec hacking crew. (TOPSEC is a Chinese cloud-security provider.) "ESCALATEPLOWMAN is actually a privilege escalation exploit against WatchGuard firewalls." In more (deliberately?) broken English, the Shadow Brokers missive instructed interested parties to bid for the files using Bitcoin. The document didn't say how many files in total Shadow Brokers had. "If you like free files (proof), you send bitcoin," says the message. "If you want know your networks hacked, you send bitcoin. If you want hack networks as like equation group, you send bitcoin. If you want reverse, write many words, make big name for self, get many customers, you send bitcoin. If want to know what we take, you send bitcoin." If the documents really are from the NSA, how did Shadow Brokers get their hands on them? Who's crafty enough to hack the NSA? The Grugq, a pseudonymous South African bug broker i.e., he sells newly found "zero-day" software exploits to intelligence agencies such as the NSA put forward a theory on Twitter earlier Monday. "This dump does not support the assertion that NSA was hacked. That sort of access is too valuable to waste for (almost) any reason," the Grugq tweeted . "I would guess: the dump is the take from a counter hack against a pivot/C2 [malware command-and-control server] that was mistakenly loaded with too much data. [Stuff] happens." UPDATE: Edward Snowden himself Tuesday (Aug. 16) piped in on Twitter about the purported NSA files, agreeing with the Grugq that they came from a malware command-and-control server. Snowden blamed Russian state-sponsored hackers trying to do damage control in the wake of the theft, and subsequent release, of embarrassing documents from the Democratic National Committee's email servers. "NSA malware staging servers getting hacked by a rival is not new. A rival publicly demonstrating they have done so is," Snowden wrote. "I suspect this is more diplomacy than intelligence, related to the escalation around the DNC hack. "Circumstantial evidence and conventional wisdom indicates Russian responsibility," he continued. "Here's why that is significant: This leak is likely a warning that someone can prove U.S. responsibility for any attacks that originated from this malware server." "That could have significant foreign policy consequences. Particularly if any of those operations targeted U.S. allies. Particularly if any of those operations targeted elections," Snowden wrote. "Accordingly, this may be an effort to influence the calculus of decision-makers wondering how sharply to respond to the DNC hacks." UPDATE: Mustafa Al-Bassam has posted a list of the purported Equation Group tools and exploits referenced in the "free" documents released by Shadow Brokers. Our favorite is EPICBANANA, which Al-Bassam describes as "a privilege escalation exploit against Cisco Adaptive Security Appliance (ASA) and Cisco Private Internet eXchange (PIX) devices." UPDATE: In a statement provided to Tom's Guide, WatchGuard Technologies responded to the Shadow Brokers data dump: "WatchGuard takes all reported vulnerabilities seriously and values the effort that security researchers put into the responsible disclosure of potential exploits. We investigated the reported exploit and found that it cannot be used against any of our currently supported appliances. The referenced vulnerability was actually targeting RapidStream appliances, a company WatchGuard acquired in 2002. This RapidStream exploit did not carry over into any WatchGuard appliances and is not a vulnerability for our current customers." How the NSA's Spying Keeps You Safe 10 Worst Data Breaches of All Time Can You Hide Anything from the NSA? Copyright 2016 Toms Guides , a Purch company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. || 10 things you need to know today: Christ the Redeemer (Christ the Redeemer seen during sunrise in Rio de Janeiro.Reuters/Wolfgang Rattay) Here is what you need to know. China's services sector is slowing . The largest segment of China's economy is growing, albeit at a slower pace, according to the latest Caxin-Markit services purchasing managers' index. July's reading of 51.7 was down from June's 52.7 and was the weakest since July 2014. China's state planner says the PBOC should ease at the "appropriate time." Rare comments from the National Development and Reform Commission suggested Beijing should cut interest rates and ease bank requirements at the "appropriate time" to kick-start the economy, Reuters reports. The People's Bank of China has not moved rates since October. Britain's services sector got crushed by Brexit . PMI data released by Markit and the Chartered Institute of Procurement & Supply showed that Britain's services sector posted its sharpest drop on record after the UK's vote to leave the European Union. The July reading tumbled to 47.4 from June's 52.3. The British pound is unchanged at 1.3358. But Europe is seeing little effect . The eurozone is seeing "little overall contagion" from the UK's decision to leave the European Union, according to Markit's final composite PMI figure for July. The reading came in at 52.9, which marked a minor improvement from June's 52.7. The euro is down 0.2% at 1.1199. There was a massive bitcoin heist . More than $65 million worth of bitcoin was stolen from BitFinex, a digital currency exchange in Hong Kong. "We are investigating the breach to determine what happened, but we know that some of our users have had their bitcoins stolen," the exchange said in a blog post. Bitcoin has traded down by as much as 20% on the news to $480. Sturm, Ruger & Co. says gun sales are surging . The gunmaker earned an adjusted $1.22 a share on revenue of $167.9 million. The company says sales surged 26% during the quarter, coinciding with a spike in background checks. Story continues AIG is buying back more stock . The commercial insurer earned $0.98 a share on revenue of $14.7 billion. AIG's board of directors authorized the buyback of up to an additional $3 billion worth of stock. Stock markets around the world are mostly lower. France's CAC (-0.3%) trails in Europe after Japan's Nikkei (-1.9%) lagged in Asia. S&P 500 futures are lower by 3.50 points at 2,149.25. Earnings reporting remains heavy. Office Depot and Time Warner are among the names reporting ahead of the opening bell while Herbalife, MetLife, and Tesla Motors highlight the names releasing their quarterly results after markets close. US economic data flows. ADP Employment Change will cross the wires at 8:15 a.m. ET before Markit US Services PMI and ISM nonmanufacturing are released at 9:45 a.m. and 10 a.m. ET. US crude-oil inventories are due out at 10:30 a.m. ET. The US 10-year yield is down 2 basis points at 1.54%. NOW WATCH: We asked a Navy SEAL what he ate during training, and his answer shocked us 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 || This infographic shows the questionable effectiveness of UN Peacekeeping missions: UN soldiers (French UN soldiers run from Sarajevo's Radio and Television building on July 27, 1993 after it came under attack by artillery shells.Chris Helgren/Reuters) The United Nations has long been a purported force for change in developing countries and other international crises. Public opinion on their undertakings have been mixed at best, with the role of UN Peacekeeping missions particularly under the microscope. Wearing their recognizable light blue berets and helmets, UN peacekeepers have been both successful in resolving conflicts and criticized for their lack of action during life-threatening emergencies. The following infographic from Norwich University Online explains UN Peacekeeping missions and seeks to explain if the missions are even effective in the long run. Norwich University Online Masters in Diplomacy NOW WATCH: The Pentagon made a move that will revolutionize thousands of soldiers' lives More From Business Insider The man who accurately predicted 5 market crashes has 3 more dates we need to worry about THE PAYMENTS INDUSTRY EXPLAINED: The Trends Creating New Winners And Losers In The Card-Processing Ecosystem Fintech could be bigger than ATMs, PayPal, and Bitcoin combined || This infographic shows the questionable effectiveness of UN Peacekeeping missions: (French UN soldiers run from Sarajevo's Radio and Television building on July 27, 1993 after it came under attack by artillery shells.Chris Helgren/Reuters)
TheUnited Nationshas long been a purported force for change in developing countries and other international crises.
Public opinion on their undertakings have been mixed at best, with the role of UN Peacekeeping missions particularly under the microscope.
Wearing their recognizable light blue berets and helmets, UN peacekeepers have been bothsuccessfulin resolving conflicts andcriticizedfor their lack of action during life-threatening emergencies.
The following infographic fromNorwich University Onlineexplains UN Peacekeeping missions and seeks to explain if the missions are even effective in the long run.
NOW WATCH:The Pentagon made a move that will revolutionize thousands of soldiers' lives
More From Business Insider
• The man who accurately predicted 5 market crashes has 3 more dates we need to worry about
• THE PAYMENTS INDUSTRY EXPLAINED: The Trends Creating New Winners And Losers In The Card-Processing Ecosystem
• Fintech could be bigger than ATMs, PayPal, and Bitcoin combined
[Random Sample of Social Media Buzz (last 60 days)]
#UFOCoin #UFO $ 0.000020 (-9.86 %) 0.00000003 BTC (-10.00 %) || BTCTurk 1987.0 TL BTCe 658.725 $ CampBx $ BitStamp 670.00 $ Cavirtex $ CEXIO 670.78 $ Bitcoin.de 615.08 € #Bitcoin #btc || Two Hour Lull Update: Current Winkdex Bitcoin price: $577.00 #bitcoin || $669.96 at 19:15 UTC [24h Range: $644.14 - $678.00 Volume: 4105 BTC] || One Bitcoin now worth $650.42@bitstamp. High $665.21. Low $645.00. Market Cap $10.259 Billion #bitcoin || $663.81 at 05:45 UTC [24h Range: $646.12 - $678.00 Volume: 4432 BTC] || #BTA Price: Bittrex 0.00001103 BTC YoBit 0.00000950 BTC Bleutrade 0.00001192 BTC #BTAprice 2016-08-21 11:00 pic.twitter.com/YyJHyKVAt7 || #BTA Price: Bittrex 0.00001300 BTC YoBit 0.00001341 BTC Bleutrade 0.00000838 BTC #BTAprice 2016-07-30 21:00 pic.twitter.com/YWvy0bn8M4 || 1 MUE Price: Bittrex 0.00000041 BTC YoBit 0.00000049 BTC Bleutrade 0.00000027 BTC #MUE #MUEprice 2016-07-09 18:00 pic.twitter.com/33fWyMj7oT || #TrinityCoin #TTY $ 0.000006 (-5.10 %) 0.00000001 BTC (-0.00 %)
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Trend: no change || Prices: 608.63, 606.59, 610.44, 614.54, 626.32, 622.86, 623.51, 606.72, 608.24, 609.24
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2015-10-09]
BTC Price: 243.93, BTC RSI: 60.03
Gold Price: 1156.30, Gold RSI: 60.79
Oil Price: 49.63, Oil RSI: 62.28
[Random Sample of News (last 60 days)]
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 new study shows 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. || Is NASDAQ Going Green?: On Monday, the marijuana-themed networking company MassRoots Inc (OTC: MSRT ) announced its plans to become the first cannabis-based company to be listed on the Nasdaq Capital Market. The company has been listed OTC since April 2015, but if it is accepted by Nasdaq, it will mark a major milestone for the company's growth. Marijuana Network MassRoots is a social networking app that connects marijuana users to industry participants like dispensaries and pot-themed companies. As the app itself doesn't handle any marijuana or facilitate sales directly, it can be used throughout the U.S., even in states where marijuana use is still illegal. Big Opportunity MassRoots Chief Executive Officer Isaac Dietrich said that the company's move onto a major market like the NASDAQ will likely help attract new investors and mark a huge step forward for both the company and the marijuana industry as a whole. In order to comply with NASDAQ's requirements MassRoots is planning to strengthen its corporate governance and take other steps in order to ensure it meets all of the criteria. However, even if the company is able to fulfill the requirements, there is no guarantee that the its application will be accepted. Investors Interested In Pot? It remains unknown how well MassRoots would be received by investors. On one hand, MassRoots would be the first company whose operations are directly linked to recreational marijuana use. While companies like GW Pharmaceuticals (NASDAQ: GWPH ) are already listed on the exchange, their research explores using elements from cannabis to create new medical treatments. MassRoots, appeals to recreational users and gives investors a chance to invest in technology which may grow alongside the industry. However, some could be wary of marijuana-linked investments as the industry's future is still uncertain as conflicting federal and state laws allow for the marijuana market to be shut down at any time. See more from Benzinga Cybersecurity Becomes An Even Bigger Problem For U.S. Firms New Dictionary Entries Suggest Bitcoin Is Going Mainstream Where Is The Market Headed? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Ripple Adds Santander InnoVentures Fund as Series A Investor: SAN FRANCISCO, CA--(Marketwired - Oct 6, 2015) -Ripple, provider of global financial settlement technology (formerly known as Ripple Labs), today announced thatSantander InnoVentures--Santander Group's $100 million fintech venture capital fund -- has joined itsrecent Series A funding roundas an investor, bringing the round's total to $32 million.
Ripple's Series A funding round included a mix of traditional investment firms and global strategic investors that all support the vision for Ripple to enable an Internet of Value (IoV) by powering the real-time, secure settlement of funds for financial institutions and their customers worldwide.
"Santander InnoVentures is a natural fit in this round because of their demonstrated support for real-time international payments and their commitment to new technologies that enable Santander to empower its customers," said Ripple CEO and co-founder Chris Larsen. "We are excited to work closely with them in building the Internet of Value and accelerating adoption amongst financial institutions, market makers and businesses worldwide."
The Santander InnoVentures fund is an investment vehicle designed to partner with portfolio companies and explore new technologies that can be used in support of Santander's customer base.
"Santander has long been an advocate for modernizing banking infrastructure," said Mariano Belinky, Managing Partner of Santander InnoVentures. "In our recentFintech 2.0 report, we highlighted the $20 billion opportunity available to the financial services industry, and many of the scenarios where distributed ledger technology will have a positive impact."
Belinky added: "We believe Ripple possesses the talent, technology, and momentum to address many of these scenarios, and are actively exploring where and how best to apply Ripple technology inside the bank. Ripple and Santander share a common vision of the future of the industry, and we intend to jointly advocate it in the community."
Other investors in Ripple's Series A round includeIDG Capital Partners, the venture arms ofCME Groupand global data storage companySeagate Technology, Jerry Yang'sAME Cloud Ventures,ChinaRock Capital Management,China Growth Capital, Wicklow Capital, the investment vehicle for Dan Tierney and Stephen Schuler, co-founders of GETCO (now KCG),Bitcoin Opportunity Corp.,Core Innovation Capital,Route 66 Ventures,RRE Ventures,Vast Ventures, andVenture 51.
Ripple provides bank-grade solutions that enable the world's disparate financial networks to securely transfer funds in any currency in real time. Financial institutions use Ripple as an alternative to correspondent banking to facilitate real-time, certain settlement at the lowest total cost possible.
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, please visithttp://www.ripple.com.
About Ripple
Rippleprovides global financial settlement solutions to ultimately enable the world to exchange value like it already exchanges information - giving rise to an Internet of Value (IoV). Ripple solutions lower the total cost of settlement by enabling banks to transact directly, without correspondent banks, and with real-time certainty of settlement. Banks around the world are partnering with Ripple to improve their cross-border payment offerings, and to join the growing, global network of financial institutions and market makers laying the foundation for the Internet of Value.
Ripple is a venture-backed startup with offices in San Francisco, New York and Sydney. As an industry advocate for the Internet of Value, Ripple sits on theFederal Reserve's Faster Payments Task Force Steering Committeeand is a member of theW3C's Web Payments Interest Group.
About Santander InnoVentures
Launched in July 2014 with a global remit to invest in transformational fintech business, Santander InnoVentures is based in London. The fund builds on the bank's philosophy of collaboration and partnership with small and start-up companies. Santander InnoVentures provides fintech companies with growth finance, industry expertise and access to Santander's internal technology and operations organisations.
Through this hybrid approach to investing, Santander Group ensures continuous innovation within its own business to the benefit of customers around the world, as well as helping new fintech businesses to succeed. Santander InnoVentures focuses on working with fintech businesses operating within digital delivery of financial services, e-commerce and payments, online lending, e-financial investments, big data and analytics.
The Fintech 2.0 Paper is a call to action for both banks and fintechs to consider the multi-billion dollar opportunities available through partnership. Download the full paper, exploring these opportunities in-depth and identifying specific use-cases, here:www.santanderinnoventures.com/fintech2
For more information, visitwww.santanderinnoventures.com. Follow Santander InnoVentures on Twitter:@SanInnoventures.
Banco Santander(SAN.MC, STD.N, BNC.LN) is a leading retail and commercial bank, based in Spain, with a meaningful market share in 10 core countries in Europe and the Americas. Santander is the largest bank in the euro zone by market capitalization and among the top 12 banks on a global basis. Founded in 1857, Santander had EUR 1.51 trillion in managed funds, 12,910 branches and 190,000 employees at the close of June 2015. In the first half of 2015, Santander made ordinary attributable profit of EUR 3,426 million, a 24% increase. || 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. || Bitcoin exchange Gemini safe and legal: Founders: Bitcoin is often associated with illegal activity and the dark corners of the Internet. But the Winklevoss twins believe their new exchange will help investors get involved with the digital currency safely and legally.
Cameron and Tyler Winklevoss, famous for their legal spat with Facebook(NASDAQ: FB)founder Mark Zuckerberg, launched bitcoin exchange Gemini on Thursday. While the currency has received criticism for its role in exchanges such as online black market Silk Road, the brothers contend they have established sufficient safeguards to unlock its potential.
"We built with a security mentality from Day One," said Tyler Winklevoss.
Cameron Winklevoss added that Gemini has "the highest regulatory policies and capitalization requirements." The brothers said they implemented background checks and protections against money laundering.
Read MoreNY issues license to Winklevoss bitcoin venture
Specifically, they contended that their platform gives hedge funds and market makers a secure platform to dive into the digital currency.
Tyler Winklevoss also touched on Facebook, saying it is a "great company" and Zuckerberg deserves credit for its growth and success.
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• 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 organised 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) || BitX Selects Zazoo to Offer Interoperable Spend via Mobile Virtual Card Technology: LONDON, UNITED KINGDOM --(Marketwired - August 13, 2015) - ZAZOO , a business unit of Net 1 UEPS Technologies, Inc. ("Net1") ( UEPS ) (JSE:NT1) , has signed an exclusive deal with BitX , a leading universal Bitcoin platform that will make it possible for Bitcoin users to spend their crypto-currency online or in-app exclusively using VCpay, ZAZOO's patented mobile virtual card ("MVC") technology. "We are very excited to be working with BitX as crypto-currencies are starting to gain prominence worldwide, and are positioned to be one of the next big things in the fin-tech space," says Philip Belamant, Managing Director of ZAZOO. "This collaboration eliminates the current challenge experienced by these new currencies, namely that of interoperability with the existing financial system, by providing a seamless gateway between crypto-currencies and traditional payment channels, resulting in the immediate and pervasive acceptance of Bitcoins as a payment currency in the online world. This collaboration will enable BitX and VCpay users to now spend Bitcoins agnostically, anywhere online and anywhere in the world, without any changes to the existing acquiring or switching infrastructures. We believe that BitX is an ideal partner for our technology as it is a rising star in the crypto-currency field, and supported by astute investors such as Naspers," says Belamant. Marcus Swanepoel, Chief Executive Officer of BitX said: "The gap between the speculative trade in digital currency and users' ability to trade the currency for any item that they choose is closing, with VCpay as a critical enabler in this transition." Bitcoin is a decentralised digital commodity that provides an alternative to transacting with traditional currencies. Bitcoin is like digital cash, and can be transferred from person to person or from a person to a business, instantly, securely and irreversibly, without going via a processing house. Users can buy and sell Bitcoin from Bitcoin platforms like BitX, using traditional currencies, and they can use the crypto-currency to buy a select range of goods and services online and offline. "Inter-connecting VCpay and BitX means that anyone who has Bitcoin will be able use MVCs from their mobile device, completely offline and without the need to access a mobile phone network," says Belamant. "Customers can then use these MVCs to pay for goods and services online or at any merchant that accepts debit or credit card payments, or they can transfer funds to family or friends who do not own Bitcoin via standard remittance applications." Story continues Users activate VCpay by following a simple over-the-air registration process and linking the application to numerous funding options, including credit cards, EFTs, direct top-ups, crypto-currencies and more. VCpay provides a secure alternative to conventional plastic cards by using existing international payment structures. MVC technology can thus be used anywhere in the world, without requiring merchants to make any changes to their hardware or software platforms. MVC is also NFC ready and can be used to transact at NFC enabled points of sale. The deal between VCpay and BitX will make it possible for Bitcoin users to integrate the various virtual worlds in which they operate in order for them to gain tangible benefits. For example, an MMO ("Massively Multiplayer Online") gamer will be able to sell materials within the game in exchange for Bitcoins and will then be able to generate a VCpay MVC to pay for his UBER ride. Alternatively, he could speculate in Bitcoins on BitX and convert his balance or gains into a VCpay MVC to spend anywhere online. "We look forward to rolling out this technology over the coming months, and whilst users will be able to spend their Bitcoin funded virtual card anywhere in the world, the initial target markets include Europe, Singapore, Philippines, South Africa, Nigeria, Kenya, Malaysia and Indonesia," adds Belamant. About ZAZOO ( www.zazooltd.com ) ZAZOO is an aggregation of innovative technology companies and a leading provider of payment solutions and transaction processing services. ZAZOO's diverse product offering is consolidated into five primary business lines, namely: Mobile Banking, MNO Solutions, Third Party Payments, Cryptography, and Smart Card technologies. About Net 1 UEPS Technologies, Inc. ( www.net1.com ) Net1 is a leading provider of alternative payment systems that leverage its Universal Electronic Payment System ("UEPS"), to facilitate biometrically secure, real-time electronic transaction processing to unbanked and under-banked populations of developing economies around the world in an online or offline environment. Net1's UEPS/EMV solution is interoperable with global EMV standards that seamlessly permit access to all the UEPS functionality in a traditional EMV environment. In addition to payments, UEPS can be used for banking, healthcare management, payroll, remittances, voting and identification. Net1 operates market-leading payment processors in South Africa and the Republic of Korea. In addition, Net1's proprietary MVC technology offers secure mobile payments and banking services in developed and emerging countries. Net1 has a primary listing on NASDAQ and a secondary listing on the Johannesburg Stock Exchange. About BitX ( https://bitx.co/ ) BitX was founded in 2013 and is headquartered in Singapore with offices in Cape Town and Jakarta. The company aims to make money frictionless and universally accessible by building an open, intelligent global platform that leverages the most optimal technologies available, including Bitcoin and the blockchain. || itBit hires former NY financial regulator's general counsel: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange itBit has hired Daniel Alter as the company's new general counsel and chief compliance officer, the firm announced on Wednesday. Alter, who spent three years as general counsel to the New York State Department of Financial Services (DFS), said there was no impropriety in his employment at itBit. "The New York State Public Officers law requires that I have a two-year recusal before I can appear before the New York Department of Financial Services on behalf of the company," said Alter, who left the DFS in mid-February and joined itBit last week. "And it will certainly apply to itBit. I will not step near or have any communications with the New York Department of Financial Services. Those will be handled by outside counsel or qualified compliance people within the company," added Alter, who is also an adjunct professor of law at New York University School of Law. In June, Benjamin Lawsky, former superintendent of the New York DFS also left the agency to form his own consulting firm that will advise companies on regulation and other matters. Lawsky was widely criticized by the bitcoin community that he may have generated consulting work for himself by issuing controversial regulations for virtual currency firms before he left his post. itBit also announced the appointment of Kim Petry as the company's chief financial officer. Petry joins itBit from her post as CFO of global operations and technology at Broadridge Financial. Prior to Broadridge, Petry served as the CFO and vice president of global commercial/corporate card payment at American Express Co. itBit's new appointments are the latest in a series of high-profile additions to the company's leadership team. Sheila Bair, former chairman of the Federal Deposit Insurance Company, Senator Bill Bradley, and Robert Herz, former chairman of the Financial Accounting Standards Board, joined itBit's Board of Directors in May this year. The New York-based exchange was recently granted a trust charter by the DFS. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Diane Craft) || 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.
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• 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. || Bitcoin Is Now Classified as a Commodity in the U.S.: Bitcoin will now be classed as a commodity in the U.S. along with gold and oil, according to the Commodity Futures Trading Commission (CFTC), which has started to clamp down on unregistered firms that trade derivatives of the cryptocurrency.
The CFTC stated Thursday that it had ordered bitcoin options trading platform Coinflip, and its CEO Francisco Riordan, to cease trading due to it not registering and complying with its regulations. It added that it had also filed, and simultaneously settled, charges against the San Francisco-based firm.
This might mean a nervous couple of months for other unregistered bitcoin derivatives firms in the U.S. but also signaled that the cryptocurrency will now come under the CFTC's scope.
"CFTC holds that bitcoin and other virtual currencies are a commodity covered by the commodity exchange act," the regulator said in a statement Thursday.
Aitan Goelman, the CFTC's director of enforcement, added that "while there is a lot of excitement surrounding bitcoin...innovation does not excuse those acting in this space from following the same rules applicable to all participants in the commodity derivatives markets."
Francisco Riordan was not immediately available for comment when contacted by CNBC.
Bitcoin is a virtual currency that allows users to exchange online credits for goods and services. While there is no central bank that issues them, bitcoins can be created online by using a computer to complete difficult tasks, a process known as mining.
As well as bitcoin exchanges and wallet services, a small but growing sector of derivatives firms selling products based on the digital currency have also sprung up in recent years. Crypto Facilities was set up in the U.K. this year by former bankers from Goldman Sachs, Morgan Stanley, BNP Paribas and Societe Generale.
The platform pitches itself as a broker which specializes in bitcoin derivatives, and trades financial products like options and futures which are directly linked to the price of the cryptocurrency. Thus, it allows users to "go long" and bet that the price of bitcoin will rise, or "go short" and bet the price will fall.
Technology enthusiasts, regulators and economists have been pondering how to pigeon hole bitcoin since its emergence in 2009. In August 2013, the German Finance Ministry classified it as a "unit of account", meaning it is can be used for tax and trading purposes in the country and is like "private money."
[Random Sample of Social Media Buzz (last 60 days)]
BTC: $230.00, S: $14.82, G: $1126.53 | Act: 24,212 Open: 3559 BTC: 54,876.7 | Total: $12,631,408 http://goo.gl/U94Tki #bitcoin || Current price: 266.03$ $BTCUSD $btc #bitcoin 2015-08-15 02:00:03 EDT || 1 #bitcoin 672.21 TL, 224.135 $, 201.851 €, GBP, 14900.00 RUR, 27464 ¥, CNH, 302.52 CAD #btc || $229.00 #bitstamp;
$224.56 #btce;
Instantly buy GH/s with BTC: http://bit.ly/LN53k1
#bitcoin #btc || 1 BTC = 265.00 USD at https://bleutrade.com/exchange/BTC/USD … #bitcoin #btc #Bleutrade || Current price of Bitcoin is $266.00. || Current price: 204.45€ $BTCEUR $btc #bitcoin 2015-09-03 05:00:01 CEST || 1 #bitcoin 699.08 TL, 228.946 $, 210 €, GBP, 15800.00 RUR, 28829 ¥, CNH, 308.27 CAD #btc || BTCTurk 650.05 TL BTCe 212.4 $ CampBx $ BitStamp 225.00 $ Cavirtex 292.97 $ CEXIO 240 $ Bitcoin.de 213.08 € #Bitcoin #btc || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000005
Bittrex: 0.00000005
Average $1.4E-5 per #reddcoin
00:15:01
|
Trend: up || Prices: 244.94, 247.05, 245.31, 249.51, 251.99, 254.32, 262.87, 270.64, 261.64, 263.44
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on 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 2018-03-01]
BTC Price: 10951.00, BTC RSI: 55.03
Gold Price: 1302.90, Gold RSI: 38.30
Oil Price: 60.99, Oil RSI: 43.46
[Random Sample of News (last 60 days)]
Is FireEye, Inc. a Buy?: It didn't appear many investors or pundits were happy with FireEye 's (NASDAQ: FEYE) second-quarter results announced Nov. 1. The problem, according to the naysayers, was twofold. One, the 2% rise in total revenue to $189.6 million disappointed, and so too did FireEye's guidance for the current quarter. There were two things wrong with investors' pessimism. The first is that FireEye's top line should take a back seat, at least for the time being, to its efficiency initiative. Also, the mid-range of FireEye's $190 million to $196 million in sales expected in the fourth quarter would be a 4.5% improvement year over year. Not worth writing home about, but hardly disappointing given FireEye's focus. So, is FireEye a buy? The answer to that question depends on your investment objective and time frame. Close-up picture usb cord plugged into the back of a computer hard drive. Image source: FireEye. The future starts now When CEO Kevin Mandia took the helm a year and a half ago from David DeWalt, FireEye was in shambles. Sagging revenue combined with out-of-control spending was the impetus for the much-needed change. Mandia immediately initiated a two-pronged plan of attack. The first was to shift FireEye's focus away from a reliance on individual sales and instead drive long-term growth utilizing its then new-ish cloud software and the recurring revenue it generates. Not an easy proposition by any means, and certainly not one that would happen overnight. Nor will the recent $20 million deal -- $15 million in equity and $5 million in cash -- it made for big-data security provider X15 Software. Assimilating a new addition, just as with changing FireEye's revenue model, takes time. Growing a reliable foundation of ongoing revenue is a step-by-step process that requires patience, not an attribute shared by all investors. FireEye's transition is why its "meager" 2% total revenue growth shouldn't weigh too heavy on investor's minds -- at least not yet. The other objective was to slash expenses. FireEye is hardly the only cybersecurity firm to talk about cutting overhead. Palo Alto Networks (NYSE: PANW) has also talked the trimming expenses talk, but it has yet to walk the walk . Last quarter, Palo Alto's operating expenses rose 21% to $418.4 million, and its cost of revenue soared 40% to $141.5. Combined, the spending erased any good tidings from Palo Alto's 27% increase in sales to $505.5 million. By contrast, FireEye has done a remarkable job of cutting costs on the road to profitability. Story continues Picture of a person with scissors cutting a paper with the word costs printed on it. Image source: Getty Images. Making strides Last quarter's $183 million in operating expenses was a 20% drop from a year ago, and cost of revenue eased 1% to $68.22 million. Accounting for a one-time restructuring charge a year ago, FireEye still cut over 11% in overhead. Cost of revenue didn't decline further because the shift in FireEye's business model to subscriptions cost a tad more than a year ago, even as product-related spending declined. In addition to operating expenses, investors would be wise to look beyond total revenue and focus on FireEye's subscription and service results. FireEye's subscription sales jumped an impressive 12% last quarter to $159.13 million. In other words, 84% of FireEye's sales are recurring revenue to drive slow but steady growth. In conjunction with FireEye's top-line growth and cost-cutting, third-quarter per-share earnings excluding one-time items improved to a loss of just $0.04 compared to $0.18 a share a year ago. Remember, Mandia has only been CEO for a year and a half. But for the first nine months of 2017, FireEye cut its adjusted per-share losses from the prior year's $0.97 to negative $0.16 share. To buy or not to buy Other CEOs may talk a good game, but FireEye is delivering. A 4.5% increase in revenue to end 2017 should be cause for celebration given FireEye's core objectives. Whether it is or not really doesn't matter. What does matter is FireEye continuing to improve efficiency and subscription revenue gains, and I have no doubt it will execute on both counts -- again. For long-term investors in search of growth, FireEye warrants a spot at the top of your watchlist. It will take time and patience, but FireEye is delivering on its initiatives with each passing quarter. 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 Tim Brugger has no position in any of the stocks mentioned. The Motley Fool recommends FireEye and Palo Alto Networks. The Motley Fool has a disclosure policy . || There's More to Philip Morris International's No-Smoking Resolution Than Quitting Cigarettes: Philip Morris International (NYSE: PM) took out full-page ads in several U.K. newspapers on New Year's Day declaring that its resolution for the year was to try to give up cigarettes. Saying it is known for its cigarettes, it admits the best action people can take for their own health is to quit smoking them. For a global tobacco giant that generates $75 billion annually in sales and $11 billion in profits from selling cigarettes, that's a bit of a dramatic declaration. And of course there's more than some altruistic imperative driving Philip Morris. Rather, it's acknowledging that its cigarette business is going away. Man breaking a cigarette in half Image source: Getty Images. Stubbing out cigarettes Worldwide cigarette shipment volumes fell over 7% over the first three quarters of 2017 for Philip Morris, while Reynolds American, before being acquired by British American Tobacco (NYSE: BTI) , had said its U.S. shipment volumes were down almost 4% through June, while industry volumes were off 3%. The world is already moving toward smoking less, and Philip Morris International sees the writing on the wall. So it is getting ahead of the curve by trying to hurry up the process of getting people to quit. But instead of going cold turkey, the tobacco giant is seeking to have them transition to a different tobacco product -- electronic cigarettes, which are at least nominally safer. And now's the right time. Philip Morris and the other tobacco companies have invested billions of dollars in technology that can making smoking a safer pursuit for millions of people. The heat-not-burn devices that it and British American Tobacco are pursuing are being used in many countries around the globe. Philip Morris has ramped up production to produce billions of units annually, and in Japan where they were first introduced, shipments of the iQOS device surpassed those of combustible cigarettes for the first time ever in the third quarter, accounting for about 40% of Philip Morris' total shipments during the first nine months of 2017. The heat-not-burn technology will soon be the biggest product it has in the country. Story continues Woman smoking an electronic cigarette Image source: Getty Images. Up in smoke Critics are leery of accepting Philip Morris' word on its ambitions. In its response to Philip Morris' creation of the Foundation for a Smoke-Free Future this past September, the World Health Organization noted: "The tobacco industry and its front groups have misled the public about the risks associated with other tobacco products. ... This decades-long history means that research and advocacy funded by tobacco companies and their front groups cannot be accepted at face value." And to a certain extent, the critics are right. If Philip Morris truly wanted to stop selling cigarettes, it could do so tomorrow. But of course its whole tobacco empire would come crashing down, and it has a fiduciary responsibility to its shareholders to not destroy the company. Obviously, what Philip Morris is doing is trying to transition away from combustible cigarettes and toward reduced-risk products such as electronic cigarettes and heated tobacco. It's a transition that should be encouraged, even if it's not in line with the bright-line strategy of the anti-smoking activists who want all smoking to stop immediately. Weaning smokers off combustible cigarettes, even if it means using an electronic cigarette as a temporary solution before quitting, should be the goal of health advocates everywhere. Philip Morris has found that it can now make products that are both safer for users and profitable for it. The world is already moving toward the smoke-free future it has envisioned; Philip Morris just wants to be a part of it. Philip Morris International is not going to quit cigarettes in 2018, but that doesn't mean the seismic shift in focus it is implementing isn't still a good thing. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Rich Duprey has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || Coincheck loses $400 million in massive cryptocurrency heist: Tokyo-based cryptocurrency exchange Coincheck just made history, and not in a good way. It has lost around $534 million worth of NEM tokens, one of the lesser-known cryptocurrencies, after its network was hacked on January 25th, 12:57pm EST. The attackers remained undetected for eight hours, giving them enough time to steal 523 million tokens kept in a "hot wallet," a type of storage that's connected to the internet for easy spending. While the exact value of the stolen coins are unclear due to the ever-changing nature of cryptocurrency -- it's $400 million at the very least -- Coincheck might have already lost more than what Mt. Gox did a few years ago. Mt. Gox, which was also based in Shibuya like Coincheck, was the victim of another massive cryptocurrency theft back in 2014. It lost between $400 and $480 million from the heist, prompting Japan's legislators to pass a law to regulate bitcoin exchanges. Despite the comparable figures, Coincheck's hack didn't quite affect the market the way Mt. Gox did. Mt. Gox, after all, handled around 80 percent of Bitcoins back in the day when there weren't a lot of exchanges yet. Also, affected Mt. Gox users didn't get their money back. Coincheck suspended its trading and withdrawal for all cryptocurrencies other than Bitcoin, but the company promised not to run from its customers. It said it will use its own money to reimburse all 260,000 affected users, though it didn't specify when it will start disbursing funds. || Why Celgene Corporation Stock Is ALL About the Buyouts: For the biotech superstar, Celgene Corporation (NASDAQ: CELG ), the last few months have not been too kind. CELG stock has hit a rough patch on several different fronts. That included it stopping phase 3 clinical trials for a potential blockbuster for Crohn’s disease as well as reducing forward earnings forecasts based on that stoppage and the fact that Revolve won’t be coming to market. That’s a big problem as the biotech firm is facing a pretty large brick wall with the end of patents for its cancer drug and huge money-maker Revlimid. So, the pressure is on for Celgene to perform and do well in this upcoming earnings report. And that pressure will be coming from its planned and speculated big-time buyouts. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Patent Pressure for CELG Stock There’s no denying that CELG won’t make money this quarter. That’s a given — especially since it preannounced unaudited results two weeks ago . Celgene is one of the better run biotech drug producers and we shouldn’t be seeing any surprise loses here. However, the concern is just how top-heavy its results are. During their prelim report, Revlimid is still running the show and it is estimated to have brought in more than $8 billion in sales for CELG. Celgene’s next biggest drug — Pomalyst/Imnovid — only brought in about $1.6 billion in sales for all of 2017. With prescriptions for Revlimid growing like weeds, the problem for Celgene is only getting worse. The risk is that CELG and its stock valuation is still riding too high on its chief cancer drug. Celgene loses patent protection by 2022 for the multiple myeloma drug. The hope is that we can see enough growth in its other medications to help reduce the crutch that Revlimid is causing. That’s why CELG stock tanked when it abandoned its trials for the Crohn’s disease-fighting Revolve. It’s also why, investors weren’t too happy with the prelim results and CELG’s less-than-expected revenue growth from Otezla. Story continues CELG Tries to Fill the Gap For Celgene, it’s not about earnings per se — it’ll have them. But it’s about how it’s going to fill the potential revenue gap come 2022 when Revlimid goes off patent. So, either medications like Otelzla need to show some better results or it needs to expand its pipeline by a lot. And we may just get the latter when CELG reports. 10 Niche ETFs That Will Make You Money In 2018 When CELG reported its preliminary results, it also announced that it was buying privately held Impact Biomedicines for roughly $7 billion . The deal fits Celgene’s oncology focus as Impact’s main product/development is a potential treatment for myelofibrosis — a type of blood cancer. But what it really does is flesh-out the biotech’s pipeline and potentially adds another big-time future money maker to its arsenal. But the real boom in M&A for CELG could come from a speculated deal. Reports have been swirling that Celgene will buy Juno Therapeutics Inc (NASDAQ: JUNO ). Snagging Juno would be a huge win for CELG. Like Impact, JUNO focuses on oncology/cancer medicines. Currently, JUNO has 11 different drugs in phase 1 or 2 clinical trials. Talk about a pipeline boost. Adding JUNO to its arsenal would certainly help build-up its pipeline and build-out enough in future revenue streams to overcome the Revlimid shortfall. An official account announcement of a JUNO buyout would be welcome news for investors. As would be any news from CELG’s multitude of joint ventures, partnerships, and its already decent-sized pipeline. A recent cancer drug joint venture with Jounce Therapeutics Inc (NASDAQ: JNCE ) should begin phase 3 trials during the first few weeks of 2018. Any update on this front or additional JV’s should be positive news. Pipeline Will Be the Focus for CELG Traders The mantra for CELG’s earnings report is “pipeline, pipeline and more pipeline.” Actual earnings probably won’t even matter. Whether investors are impressed will have to do with the firm’s plans to replace Revlimid. And that can come from its buyout plans or increasing revenues from its other medicines through trials. So, where does that leave investors? 3 Tech Trades to Bet on 'FANG' Stocks in 2018 Over the long-term, CELG seems like a steal. It does have an impressive resume of drugs that are growing and that patent-cliff for its leading cancer drug won’t happen for another four years. There should be plenty of profits to be had for patient investors. If Celgene is able to announce a big deal or better pipeline results, CELG stock should spike hard. If not, we could see it fall a bit more. And if it does, that might be a prime time to snag-up some shares or to increase a position in CELG stock. The reality is, Celgene still has plenty of time to build-out its pipeline before the cliff hits. It’ll get there. But investors are looking for it to happen today. If they get that, it’s off to the races for CELG stock. As of this writing, Aaron Levitt was long CELG. More From InvestorPlace 6 of the Strangest ETFs You Can Buy 10 Stocks to Buy Instead of Bitcoin The Top 10 Value Stocks in the S&P 500 Compare Brokers The post Why Celgene Corporation Stock Is ALL About the Buyouts appeared first on InvestorPlace . || Self-Proclaimed Inventor of Bitcoin Accused of Swindling $5 Billion in Cryptocurrency: Craig Wright, the self-proclaimed inventor of bitcoin, is accused of swindling more than $5 billion worth of the cryptocurrency and other assets from the estate of a computer-security expert. Wright, who claimed in 2016 that he created the computer-based currency under the pseudonym Satoshi ?Nakamoto, allegedly schemed to use phony contracts and signatures to lay claim to bitcoins mined by colleague Dave Kleiman, another cryptocurrency adherent, who died in 2013, according to a lawsuit filed by Kleinman’s brother. Kleiman’s family contends they own the rights to more than 1 million Bitcoins and blockchain technologies Kleiman mined and developed during his lifetime and that the assets’ value exceeds $5 billion, according to the Feb. 14 filing in federal court in West Palm Beach, Florida. “Craig forged a series of contracts that purported to transfer Dave’s assets to Craig and/or companies controlled by him,’’ lawyers for Kleiman’s family said in the complaint. “Craig backdated these contracts and forged Dave’s signature on them.’’ Wright, an Australian who lives in London, couldn’t immediately be reached for comment on the suit, which also accuses the entrepreneur of violating partnership duties to Kleiman and unjustly enriching himself at his colleague’s expense. There is no attorney listed for Wright on the docket. Wright and Kleiman formed a Florida-based company, W&K Info Defense Research LLC, in 2011 to focus on cybersecurity, according to the court filing. The pair also had earlier worked together on the development of Bitcoin and had extensive mining operations, according to the family’ s lawsuit. The pair controlled as many as 1.1 million Bitcoins at the time of Kleiman’s death, according to the suit. They were held trusts set up in Singapore, the Seychelles Islands and the U.K., the suit says. Wright said in a 2016 blog post and interviews that he was the main participant in a team that developed the original Bitcoin software under the pseudonym Satoshi Nakamoto. After skeptics questioned the claims, Wright said that he decided not to present any further evidence to prove that he is the creator of Bitcoin. Story continues In the filing, Kleiman’s brother includes what he says is email traffic between himself and Wright in which the entrepreneur indicates he may have been holding 300,000 of Kleiman’s Bitcoins. Dave “mentioned that you had 1 million Bitcoins in the trust and since you said he has 300,000 as his part,’’ the computer expert’s brother wrote. “I was figuring the other 700,000 is yours,” he added in the email. “Is that correct?” “Around that,” Wright wrote back. “Minus what was needed for the company’s use.” The case is Ira Kleiman v. Craig Wright, No. 18-cv-80176, U.S. District Court for the Southern District of Florida. || Dueling Analysts Debate Netflix, Inc.'s Fourth Quarter: Netflix (NASDAQ: NFLX) investors had a tough day this Wednesday. Share prices slid 2.4% lower at 10:45 a.m. Eastern time, though the streaming video giant's stock recovered to a less destructive 1.3% loss before the closing bell. The drop was a sharp reversal from Tuesday's action, when Netflix shares set fresh all-time highs thanks to bullish analyst previews of next week's fourth-quarter report. As it turns out, today's reversal was also powered by earnings previews -- of a more bearish flavor. Two gold statues of a bull and a bear face off against a cloudy, grey backdrop. Image source: Getty Images. First, the bull On Tuesday, analyst firm Raymond James raised its price target for Netflix shares from $220 to $260. The firm's "buy" rating is supported by four pillars that analyst Justin Patterson calls "underappreciated" even at these record-high prices: Strong subscriber growth in international markets. Expanding international profit margin. The pricing power and domestic growth opportunity that comes with an impressive content catalog. A growing competitive moat that separates Netflix from the likes of Hulu, Amazon.com 's (NASDAQ: AMZN) Prime Videos, and YouTube Red. It was no surprise to see Netflix shares rising on that rosy report. It's harder to see any obvious flaws in Patterson's reasoning. Netflix really is growing both its subscriber count and profit margin overseas. Here at home, none of the rival services can measure up to Netflix's combination of award-winning original content and user-friendly apps. Amazon just can't stop itself from trying to sell retail products such as full-priced pay-per-view downloads or Blu-ray disks when you're trying to enjoy your paid subscription to Prime Video. Hulu inserts advertising into your videos, even though you already paid for access to that content. So the moat between Netflix and the rest isn't getting any smaller, though Disney (NYSE: DIS) just might change that in 2019. That's a concern for later, though. We don't even know what Disney's new streaming platform will look like yet. Then the bear Wedbush Morgan analyst Michael Pachter has been pessimistic about Netflix since time immemorial, and he kept up that bearish outlook ahead of the fourth-quarter report as well. "We expect Netflix to burn cash to fund content acquisition for many years, notwithstanding the fact that it has increased price three times while cash burn continues to grow," said Pachter in a note prepared for Morningstar . "We don't expect Netflix to become meaningfully profitable on a cash basis for several years, and we don't expect positive free cash flow for the remainder of this decade. "We think that Netflix is destined to be a cash-burning, high-growth company until it changes its strategy and accepts its fate as a highly profitable, slow-growth company." Story continues Based on that analysis, Pachter's price target for Netflix shares remains at $93 -- more than 50% below current prices. Like Patterson, Michael Pachter isn't wrong. Netflix is indeed going to burn cash for the foreseeable future, using new debt and maybe even stock sales to raise more funds along the way. Free cash flow has been negative since the heavy push into original content creation started, and it should remain that way until the content bets start to pay off. Yes, Netflix is a "cash-burning, high-growth company" today, and it will stay that way for a while. The international growth effort is only getting started, and both domestic and foreign growth will depend on additional content spend over the next few years. Pachter and Patterson simply disagree on whether that's a bad thing, and I tend to side with the bullish analysis. In my view, it makes perfect sense to stake out a defensible lead as streaming video markets hit the mainstream around the world. Do what it takes to build an unassailable long-term moat now, and then switch gears and reap the cash-flow rewards later. That's the philosophy at work here, and Pachter just doesn't think it will work. The iconic red Netflix logo and See what's next in grey, all on a white field. Image source: Netflix. Who's right? Who's wrong? Next week's earnings report should give us more clues, of course. Management's official forecast calls for 1.25 million net new domestic subscribers in the fourth quarter, alongside 5.05 million new international customers. Reaching these goals would result in a global customer count of 115.55 million members and $3.27 billion in top-line revenue. International operations should deliver positive "contribution profits" -- Netflix's preferred term for each segment's operating profits -- from here on out, even as the negative free cash flows continue. These guidance targets account for price increases on most domestic and some international plans during the third and fourth quarters. The assumption is that higher prices should put a lid on subscriber growth, which is why the additions in the fourth quarter of 2017 should be lower than the previous year's. If that hypothesis turns out to be too optimistic, growth rates will have turned out slower than expected. On the other hand, too-gloomy assumptions would lead to a rosy report. So much depends on these price changes . As I said, I think both Pachter and Patterson are more right than wrong -- but Patterson seems to have a better grasp on how the moving parts of Netflix's financial machinery add up to value creation in the long run. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Anders Bylund owns shares of Amazon, Netflix, and Walt Disney. The Motley Fool owns shares of and recommends Amazon, Netflix, and Walt Disney. The Motley Fool has a disclosure policy . View comments || Detroit Auto Show Reveals 2018: 5 Hot Cars to Watch: We have compiled five of the Detroit Auto Show reveals 2018. Detroit Auto Show Reveals 2018 Source: Ford The automotive Michigan event began on Saturday, January 13 and it will last through Sunday, January 28. Here are five hot cars to watch for the event: 2019 Chevrolet Silverado : Chevrolet is celebrating 100 years of rolling out Chevy trucks with a new Silverado, which is 450 pounds lighter than its previous generation. Its bed is 7 inches wider than before and it includes LED lighting and lockable storage bins. 2019 Ford Ranger : With the new Ford Ranger, you have a mid-size pickup truck that hasn’t been around in the U.S. market since the 2011 model year. It includes a 2.3-liter EcoBoost engine and a 10-speed automatic transmission, plus it’s smaller than the F-150 while being just as tough in off-road locations. 2019 Mercedes-Benz G Class : The specs of this vehicle include dual 12.3-inch screens and more room in its front and back. The engine is a 4.0-liter V8 with 416 horsepower, as well as a 450 pound-feet of torque to go along with a new nine-speed automatic transmission. Lexus LF-1 Limitless concept : The new Lexus offering is a hybrid crossover, which comes just before the company’s plans to roll out electrified versions of all its models once 2025 rolls in. 2019 Ram 1500 : Ram is rolling out a vehicle that is made from a stronger frame, with a maximum trailer tow increased to 12,750, as well as the largest front brakes in the segment. More From InvestorPlace The 5 Best Dow Jones Stocks to Buy for 2018 7 ETFs That Will Beat the Market in 2018 4 Bitcoin Alternatives That You Need for 2018 Compare Brokers The post Detroit Auto Show Reveals 2018: 5 Hot Cars to Watch appeared first on InvestorPlace . InvestorPlace - Stock Market News, Stock Advice & Trading Tips View comments || Fork Confusion Propels Litecoin to 1-Month High Above $200: Litecoin (LTC) is putting on a show today amid news a group of developers may seek to fork its blockchain, the fifth-largest by total value.
The cryptocurrency was last seen changing hands at $216, a one-month high, according to data serviceCoinMarketCap. Overall, LTC has appreciated by 33 percent in the last 24 hours, up over 100 percent from the Feb. 6 low of $106.94. Further, with the move, litecoin's market capitalization has jumped above $10 billion for the first time since Jan. 29.
Still, the reasons for the move may give investors pause.
LTC appears to be edging higher due to news of an upcoming fork called "Litecoin Cash," which is promising new tokens to existing holders at block 1,371,111. For every 1 LTC held at block 1,371,111, holders will receive 10 "LCC," according to theofficial website.
However, there is a notable contingent that is warning about the new cryptocurrency.
Litecoin founder creatorCharlie Leeand the litecoincommunityhave dismissed the project, calling it a "scam" meant to confuse litecoin owners. Bitcoin similarly boomed on the release of a rival blockchain called bitcoin cash last year, though there were perhaps more stark differences between the two technologies, both propelled by competing ideologies.
Closer analysis shows the LTC price increase has been bolstered by strong volumes from Coinbase's GDAX exchange, a sign less-savvy consumers may be active in the market.
However, questions about the fork aside, technical charts indicate the news may be enough to extend a rally in the flagging market.
The abovechart(prices as per Coinbase) shows:
• LTC has breached the falling trendline resistance on the back of a sharp rise in volumes. A high volume breakout indicates the rally is here to stay.
• Short-term momentum studies indicate bullish setup: 5-day MA and 10-day MA are curled up in favor of the bulls.
• The relative strength index (RSI) is above 50.00 (in the bullish territory) and on the rise, indicating scope for further gains in LTC.
• Meanwhile, the 50-day MA is sloping downwards in favor of the bears.
• A close today (as per UTC) above the trendline hurdle would signal a bearish-to-bullish trend change and allow for a stronger rally towards $300.
• The RSI on the 1-hour and 4-hour chart shows overbought conditions, hence a minor pullback could be seen. That said, the dip would be short-lived as short-term momentum studies are biased bullish.
• Only a daily close (as per UTC) below $142.26 (Feb. 11 low) would signal a bullish invalidation.
Disclosure:CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Coinbase.
Litecoin image via Shutterstock
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• Bitcoin Price Ticks Higher Amid Strong Korean Demand
• Record Retest? ETC Looks Poised on Double-Digit Climb
• Bottom Confirmed? Bitcoin at 20-Day High Near $11K || Barclays in U.S. set to join cryptocurrency credit card ban: report: LONDON (Reuters) - Barclays is likely to follow other major lenders in the United States in stopping customers from buying Bitcoin and other cryptocurrencies with its credit cards, according to an interview with a senior executive at its credit card unit. "We are making the decision that we will likely no[t] allow cryptocurrency purchases on the card," Paul Wilmore, managing director at Barclaycard, told Bank Innovation blog. A spokeswoman for Barclays in London said that the bank is reviewing its policy on a country-by-country basis and that it had not yet changed its policy. Barclaycard is one of the biggest credit card providers in both Britain and the U.S. that is yet to formally announce a ban on card purchases of digital currencies. Lloyds Banking Group Plc, which issues just over a quarter of all credit cards in Britain, and Virgin Money announced such a ban last week, following the lead of JP Morgan Chase & Co and Citigroup. The moves are aimed at protecting customers from running up huge debts from buying virtual currencies on credit, if their values were to plummet, a Lloyds spokeswoman said last week. (Reporting by Lawrence White; editing by Alexander Smith) || Ripple Defies Cryptocurrency Selloff, Adds 4%: Ripple, a blockchain-focused startup based in San Francisco, announced a new partnership with money transfer giant MoneyGram International MGI on Thursday. The move helped Ripple’s popular bitcoin alternative, XRP, move higher on the day—defying a nearly-universal cryptocurrency selloff.
The new partnership will witness MoneyGram test the use of XRP through Ripple’s new xRapid service, which is designed to help provide liquidity to financial companies (also read: What Investors Need to Know About Ripple, Bitcoin's Cryptocurrency Rival).
“XRP remains the most efficient digital asset for payments with transaction fees at just fractions of a penny, compared to Bitcoin fees of about $30 per transaction. Similarly, the average transaction time for XRP is 2-3 seconds with other top digital assets ranging from 15 minutes to an hour,” the companies said in a statement.
Ripple chief executive Brad Garlinghouse also mentioned that the partnership will help demonstrate XRP’s usefulness in lowering costs for money transfers between friends and families. The CEO has previously argued that XRP would eliminate the need for money transfer outlets to hold local currency accounts in distant or remote locations.
Meanwhile, MoneyGram CEO Alex Holmes is optimistic that Ripple is the right partner to help his company cash in on the growing benefits of its underlying technology.
“Every day blockchain technology is changing the norm and encouraging innovation. Ripple is at the forefront of blockchain technology and we look forward to piloting xRapid. We’re hopeful it will increase efficiency and improve services to MoneyGram’s customers,” he said.
Shares of MoneyGram International opened more than 11% higher on Thursday, but the stock would eventually settle roughly 2.2% above its previous close. According to CoinMarketCap.com, XRP has gained just over 3.75% over the past 24 hours.
XRP is the third-largest digital currency in terms of total market capitalization, trailing only bitcoin and Ethereum. These two cryptocurrencies have slipped 7.04% and 9.10%, respectively, within the past day.
Ripple is one of just two top-ten cryptocurrencies in the green today. The other, Stellar, gained about 5.53%. Other notable coins shedding value on Thursday include Bitcoin Cash, Cardano, and Litecoin.
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[Random Sample of Social Media Buzz (last 60 days)]
The best Bitcoin exchange of 2018 https://goo.gl/fb/GnCvrw || Stock Market and Bitcoin dark hours. Last figures about cryptocurrencies by @business #Fintech #investments #Bitcoin #Litecoin #etherum #Ripplepic.twitter.com/JHLYSBIKpP || To make a profit of R 1500 per month you need to invest R 500 000 in the Bank. Whereas, with Bitcoin you can invest as little as R 9000 & earn $200 daily. Hence, $200 × R12.00 = R2400 a day × 30 days = R 72 000 per month. || e scivola sotto i 7mila dollari http://dlvr.it/QF9sc2 #bitcoin #economia || As I mentioned in the last few months about the U.S economic growth is go higher and the @realDonaldTrump investment and economic policy is strong,
despite the minor#WallStreetCrash and the picture will getting clear in few days...
#Bitcoin bubble is blow up
#economy #bonds || three dudes talking about bitcoin/crypto currency and I'm trying to keep quiet but the dudes are just ....uninformed || [20:00] Most mentioned coins in the last 4 hours: $BTC $ETH $LTC $ZCL $XRP $CTO $NANO $TRX $NEO $ETCpic.twitter.com/4BhsSWrGfQ || HURRY! Don't miss this--New exchange is about to open--$500.00 signup bonus if you get in early! http://upcoin.com/?ID=44359021
$xvg $trx $xrp $eth $btc $nebl $bcc $xlm $qtum $elf $ada $bnb $iot $lend $icx $xrp $xvg $btc $eos $tnb $neo $appc $ltc || #makingmoney How to have bitcoin money? http://bit.ly/2ASlLfX pic.twitter.com/ETl3cgD2nG || El bitcóin pierde un 15% de su valor en un solo día https://actualidad.rt.com/actualidad/262091-bitcoin-cae-debajo-6000-dolares …
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Trend: down || Prices: 11086.40, 11489.70, 11512.60, 11573.30, 10779.90, 9965.57, 9395.01, 9337.55, 8866.00, 9578.63
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2021-12-03]
BTC Price: 53598.25, BTC RSI: 38.04
Gold Price: 1782.00, Gold RSI: 44.17
Oil Price: 66.26, Oil RSI: 29.41
[Random Sample of News (last 60 days)]
Bitcoin (BTC) Drops Back After Reaching All-Time High: BeInCrypto –
Bitcoin (BTC) has been moving downward since reaching a new all-time high of $67,000 on Oct 20. It’s possible that a local top has been reached, and BTC could drop back in the short term before resuming its upward movement.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || The Crypto Daily – Movers and Shakers – November 22nd, 2021: Bitcoin , BTC to USD, fell by 1.81% on Sunday. Partially reversing a 2.73% gain from Saturday, Bitcoin ended the week down by 10.36% to $58,691.0. A bearish start to the day saw Bitcoin fall to a late morning intraday low $58,603.0 before making a move. Steering clear of the first major support level at $58,182, Bitcoin rallied to a late afternoon intraday high $60,050.0. Falling short of the first major resistance level at $60,618, however, Bitcoin fell back to end the day at sub-$59,000 levels. The near-term bullish trend remained intact, in spite of the latest pullback to sub-$56,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $28,814 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a mixed day on Sunday. Crypto.com Coin jumped by 26.39% to lead the way. Bitcoin Cash SV (+0.12%), Chainlink (+2.48%), and Polkadot (+1.46%) also bucked the trend on the day. It was a bearish day for the rest of the majors, however. Cardano’s ADA fell by 4.55% to lead the way down. Binance Coin (-3.37%), Ethereum (-3.47%), Litecoin (-2.44%), and Ripple’s XRP (-3.41%) also joined Bitcoin in the red. It was also a mixed week ending 21 st November for the majors. Crypto.com Coin surged by 65.35%, with Polkadot (+1.02%) also finding support to buck the broader market trend. Litecoin tumbled by 20.72% to lead the way down, however, with Chainlink (-13.85%) also deep in the red. Binance Coin (-10.16%), Bitcoin Cash SV (-10.46%), Cardano’s ADA (-9.95%), and Ripple’s XRP (-10.67%) also saw heavy losses. Ethereum fell by a more modest 7.86% in the week, however. In the week, the crypto total market rose to a Monday high $2,904bn before falling to a Friday low $2,393bn. At the time of writing, the total market cap stood at $2,567bn. Bitcoin’s dominance rose to a Thursday high 44.28% before falling to a Friday low 42.34%. At the time of writing, Bitcoin’s dominance stood at 42.92%. This Morning At the time of writing, Bitcoin was down by 0.61% to $58,334.0. A mixed start to the day saw Bitcoin rise to an early morning high $58,829.0 before falling to a low $58,083.0. Story continues Bitcoin tested the first major support level at $58,179 early on. Elsewhere, it was a mixed start to the day. Crypto.com Coin was up by 6.63%, with Bitcoin Cash SV (+1.11%) and Polkadot (+0.29% also finding support. It was a bearish start for the rest, however. At the time of writing, Chainlink was down by 1.99% to lead the way down. For the Bitcoin Day Ahead Bitcoin would need to move through the $59,115 pivot to bring the first major resistance level at $59,626 into play. Support from the broader market would be needed for Bitcoin to break back through to $59,000 levels. Barring a broad-based crypto rally, the first major resistance level and Sunday’s high $60,050.0 would likely cap the upside. In the event of an extended rally, Bitcoin could test resistance at $63,000 levels before easing back. The second major resistance level sits at $60,562. Failure to move through the $59,115 pivot would bring the first major support level at $58,179 back into play. Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$57,000 levels. The second major support level at $57,668 should limit the downside. This article was originally posted on FX Empire More From FXEMPIRE: The Crypto Daily – Movers and Shakers – November 21st, 2021 U.S Mortgage Rates Bounce Back, Driven by Upbeat U.S Economic Data and Inflation A Quiet Economic Calendar Leaves Consumer Confidence and the EUR in Focus How to Protect Private Keys? Paul Pogba Becomes the Latest Athlete to Enter the NFT Space The Crypto Daily – Movers and Shakers – November 22nd, 2021 || Reward Cycle Achieves $2.2 Million Market Cap After Token Launch: London, United Kingdom--(Newsfile Corp. - November 9, 2021) - The Reward Cycle team is pleased to announce that the Company market cap has reached $2.2 million, after the launch of its Reward Cycle token on October 31, 2021, using the BSC Chain. Figure 1: Reward Cycle Achieves $2.2 Million Market Cap After Token Launch Although the token was launched at a $60,000 market cap, it achieved an impressive $2.2 million market cap since its launching. The team encouraged investors to hold the token and stand a good chance of earning a 7% USDT reward. The token's reward utility, Launchpad, is expected to hit the cryptocurrency industry very soon, according to the team. RC Launchpad The RC Launchpad is a blockchain platform to give prospective users access to a launchpad specifically designed to help creators of new blockchain projects to distribute their tokens easily while simultaneously raising capital for them. The Launchpad is currently operative on the Binance Smart Chain and was used to launch new IDO coins through PancakeSwap, a decentralized liquidity exchange. Here's the link to the swap page: https://bscscan.com/token/0x229a54fb9de889c271380452c0483ce89b8c1e0d Through the above address, users can swap the token for BNB or other tokens of their choice. The link contains the BSC Scan contract address for the swapping. KYC and Other Important Measurements To give more credibility to new tokens launched on the Launchpad, the team has put the necessary machinery in place to vet and check tokens and accept only those from qualified blockchain developers. That is beside the 'Know Your Customer' (KYC) checks that will be performed on those tokens before they are listed for presale on their RC BSC Launchpad. Reward Cycle Vision After launching the token on October 31, 2021, the Launchpad is projected to be ready within the next 2 months. The creators have indicated their readiness to buy back and burn from the profit they intend to make from the token as a practical way to reduce reward cycle supply. Story continues The Reward Cycle team rewards crypto lovers who hold and receive one or two of their utility tokens such as ADA, Eth, USDT, and XRP. Reward Cycle's Reward USDT is the reward for Reward Cycle's first token while deliberations are ongoing on the second rewards token that will be chosen through a voting process. To earn more rewards, crypto lovers will be required to hold more of the token. According to the token's creator, 7% of each buy and sell will be dedicated to holders as USDT reward while a further 4% goes into liquidity. Another 4% will be diverted into marketing, making a total of 15% for several purposes. Buying/Selling platform Reward Cycle also provides cryptocurrency selling and buying services. Users can buy and sell other digital currencies such as Bitcoin and Ethereum. The Reward Cycle team prides itself as provide several benefits that include profit tracking, real-time data, customizable charts, and safe and secure transactions and operations. To be better informed about this project, Reward Cycle has created some social media accounts where prospective investors can catch up with the project and be abreast of every development associated with it. Social Media Handles: Twitter: https://twitter.com/rewardcycle Telegram: https://t.me/rewardcycle Github: https://github.com/rewardcycle Discord: https://discord.com/invite/NXm3rmPDJN Media Details Company Name: Reward Cycle Contact Name: Reward Cycle Email: [email protected] Website: https://rewardcycle.club/ To view the source version of this press release, please visit https://www.newsfilecorp.com/release/102603 || Bitcoin Latinum (LTNM) Launches Trading on DigiFinex Up Over 200%: PALO ALTO, CA / ACCESSWIRE / October 26, 2021 /Bitcoin Latinum (LTNM), the next generation, insured, asset-backed cryptocurrency, has officially listed on theDigiFinex exchange, opening over 200% in its first hour of trading. Bitcoin Latinum congratulates DigiFinex on a successful launch, and everyone who has supported the project.
Monsoon Blockchain, Bitcoin Latinum's lead developer, has announced plans for Bitcoin Latinum to officially list on seven top-tier public exchanges, under the ticker LTNM. In addition to DigiFinex, the exchanges are: HitBTC (the fifth largest exchange by volume at $4 billion), FMFW (formerly Bitcoin.com and operating with $3.3 billion in daily trading volume), Changelly ($2.71 billion in daily volume), Changelly Pro, Bitmart ($1.6 billion in daily volume), and XT.com by the end of 2021.
Headquartered in Singapore, DigiFinex boasts over 4 million users across the globe, and can be accessed by users in 150 countries. With daily trading volume around $1 billion, DigiFinex is one of the top rated global cryptocurrency exchanges that offers spot, leverage, perpetual trading, and fiat to crypto trading. In addition, DigiFinex offers unparalleled 24/7 customer service for its user base. For more information about DigiFinex, please visithttps://www.digifinex.com/
Bitcoin Latinum was built as an open-architecture cryptocurrency technology, capable of handling large transaction volume, cybersecurity, and digital asset management. Based on the Bitcoin ecosystem, Bitcoin Latinum was developed by Monsoon Blockchain Corporation on behalf of the Bitcoin Latinum Foundation. LTNM is a greener, faster, and more secure version of Bitcoin, and is poised to revolutionize digital transactions.
Unlike other crypto assets, LTNM is insured, and backed by real-world and digital assets. Its asset backing is held in a fund model, so that base asset value increases over time. It accelerates this asset-backed funds growth by depositing 80% of the transaction fee back into the asset fund that backs the currency. Thus, the more Bitcoin Latinum is adopted, the faster its asset funds grow, creating a self-inflating currency. The listing on DigiFinex highlights Bitcoin Latinum Foundation's commitment to supporting the growth of a sustainable crypto ecosystem.
Bitcoin Latinum was developed with a highly scalable network that will initially support up to 10,000 transactions per second and millions of transactions per day to facilitate retail transactions. With its Proof of Stake (PoS) consensus method, Bitcoin Latinum ensures the network facilitates more transactions per minute at lower transaction fees. Utilizing an efficient consensus mechanism, Bitcoin Latinum provides a much better on-chain payment network compared to Bitcoin, with an average transaction confirmation in 3-5 seconds.
LTNM is one of the greenest cryptocurrencies in existence, and recently joined the Crypto Climate Accord. Utilizing its advanced Proof of Stake (PoS) mechanism, LTNM holders will earn rewards for holding their coins as collateral to stake on the Bitcoin Latinum network. This leads to less electricity consumption. LTNM reduces the energy consumption to only 0.00015 kWh per transaction.
For more information about Bitcoin Latinum, please visithttps://bitcoinlatinum.com
FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. Any Bitcoin Latinum offered is for educational and informational purposes only and should NOT be construed as a securities-related offer or solicitation or be relied upon as personalized investment advice. Bitcoin Latinum strongly recommends you consult a licensed or registered professional before making any investment decision.
Contact:
Bitcoin [email protected]://bitcoinlatinum.com/
SOURCE:Bitcoin Latinum
View source version on accesswire.com:https://www.accesswire.com/669687/Bitcoin-Latinum-LTNM-Launches-Trading-on-DigiFinex-Up-Over-200 || SEC Approves Volt Equity’s Crypto Stock ETF: The U.S. Securities and Exchange Commission (SEC) has approved an exchange-traded fund (ETF) that aims to provide investors with exposure to publicly traded companies with exposure to bitcoin. According to a prospectus filed Oct. 1, the Volt Crypto Industry Revolution and Tech ETF will track the performance of “Bitcoin Industry Revolution Companies” – publicly listed companies that either hold a majority of their net assets in bitcoin, like MicroStrategy (NASDAQ: MSTR), or that make a majority of their profits through mining or building mining equipment, like Marathon Digital Holdings (NASDAQ: MARA). At least 80% of the fund’s net assets will be invested in crypto stocks. The remaining 20% will be invested in more traditional stocks to offset the risk of the fund’s focused portfolio. The ETF will not hold any cryptocurrencies directly. The SEC’s approval of the fund, which will trade under the ticker BTCR, comes just days after the regulator delayed its decision on four bitcoin ETFs – GlobalX, WidsomTree, Kryptoin, and Valkyrie – to late November at the earliest. While the SEC kicks the crypto can down the road, bitcoin ETF applications are piling up: On Friday, BlockFi filed for a bitcoin futures ETF, bringing the number of active pending applications to over a dozen. Read more: Bitwise Launches ETF of 30 ‘Pure-Play’ Crypto Firms Like Coinbase, MicroStrategy Many in the crypto community have speculated that, despite the delays, the approval of a bitcoin ETF could happen by the end of the month. SEC Chair Gary Gensler has also repeatedly suggested that he is not opposed to the idea of a futures-based bitcoin ETF like those proposed by Valkyrie and BlockFi. While Volt’s ETF is not exactly the bitcoin ETF the crypto industry has been waiting for, it is a step forward: BTCR is the first bitcoin-focused ETF to receive regulatory approval. Volt Equity CEO Tad Park told Insider that the fund, which is the fifth for the San Francisco-based financial services firm, was the most difficult to get approved. “It was very difficult to get this through,” Park told Insider. “But we’re really glad that they finally approved it.” CORRECTION (Oct. 11, 13:57 UTC): A previous version of this story incorrectly stated the name of Volt Equity’s CEO – it is Tad Park, not Ted Park. || El Salvador to build cryptocurrency-fueled "Bitcoin City": LA LIBERTAD, El Salvador (AP) In a rock concert-like atmosphere, El Salvador President Nayib Bukele announced that his government will build an oceanside Bitcoin City at the base of a volcano. Bukele used a gathering of Bitcoin enthusiasts Saturday night to launch his latest idea, much as he used a an earlier Bitcoin conference in Miami to announce in a video message that El Salvador would be the first country to make the cryptocurrency legal tender, A bond offering would happen in 2022 entirely in Bitcoin, Bukele said, wearing his signature backwards baseball cap. And 60 days after financing was ready, construction would begin. The city will be built near the Conchagua volcano to take advantage of geothermal energy to power both the city and Bitcoin mining the energy-intensive solving of complex mathematical calculations day and night to verify currency transactions. The government is already running a pilot Bitcoin mining venture at another geothermal power plant beside the Tecapa volcano. The oceanside Conchagua volcano sits in southeastern El Salvador on the Gulf of Fonseca. The government will provide land and infrastructure and work to attract investors. The only tax collected there will be the value-added tax, half of which will be used to pay the municipal bonds and the rest for municipal infrastructure and maintenance. Bukele said there would be no property, income or municipal taxes and the city would have zero carbon dioxide emissions. The city would be built with attracting foreign investment in mind. There would be residential areas, malls, restaurants and a port, Bukele said. The president talked of digital education, technology and sustainable public transportation. Invest here and earn all the money you want, Bukele told the cheering crowd in English at the closing of the Latin American Bitcoin and Blockchain Conference being held in El Salvador. Bitcoin has been legal tender alongside the U.S. dollar since Sept. 7. Story continues The government is backing Bitcoin with a $150 million fund. To incentivize Salvadorans to use it, the government offered $30 worth of credit to those using its digital wallet. Critics have warned that the currencys lack of transparency could attract increased criminal activity to the country and that the digital currencys wild swings in value would pose a risk to those holding it. Bitcoin was originally created to operate outside government controlled financial systems and Bukele says it will help attract foreign investment to El Salvador and make it cheaper for Salvadorans living abroad to send money home to their families. Concern among the Salvadoran opposition and outside observers has grown this year as Bukele has moved to consolidate power. Voters gave the highly popular presidents party control of the congress earlier this year. The new lawmakers immediately replaced the members of the constitutional chamber of the Supreme Court and the attorney general, leaving Bukeles party firmly in control of the other branches of government. The U.S. government in response said it would shift its aid away from government agencies to civil society organizations. This month, Bukele sent a proposal to congress that would require organizations receiving foreign funding to register as foreign agents. || Crypto Lender Celsius Network Invests $300M in North American Bitcoin Mining Operations: Report: Cryptocurrency lender Celsius Network has further invested $300 million for its bitcoin mining operations in North America, taking the total investment this year to $500 million, according to a report fromThe Block.
• The $300 million comes after Celsius invested $200 million earlier this year in bitcoin mining equipment and equity of bitcoin mining firms Core Scientific, Rhodium Enterprises and mining pool Luxor Technologies, according to the report.
• “These are commitments for this year and next year, so we will be adding [mining] capacity all the time until the end of next year,” CEO Alex Mashinsky said.
• The investment was made to expand its bitcoin mining hash rate and power capacity in North America, Mashinsky added.
• Mashinsky said Celsius now has an operational mining fleet of about 22,000 bitcoin ASIC miners, most of which are Bitmain’s newest generation of AntMiner S19 series, according to the report.
• Celsius will use the bitcoin it mines for its lending business, the report added.
• Last month, the lender hadraised$400 million in equity funding, in an effort to reassure regulators of its business credibility. The round came after Celsius received multiple notices from U.S. state regulators, in response to its lending products.
Read more:Crypto Lender Celsius Network Raises $400M in Bid to Reassure Regulators || Latest Bitcoin ETF rallies in 2nd day as asset class soars in popularity: VanEck's Bitcoin Strategy exchange-traded fund (ETF),the third Bitcoin-based futures fund to hit the market recently, rallied in its second day of trading as the volatile but booming cryptocurrency market draws in more investors.
Launched on Tuesday with the Chicago Board Options Exchange (CBOE), the product (XBTF) will own Bitcoin futures contracts. While not as hotly anticipated as the spot Bitcoin ETF the firm has doggedly pursued for years, XBTF carries competitive cost and tax advantages that may turn it into a hit for financial advisors, as well as smaller investors seeking exposure to the hot crypto market.
The first Bitcoin ETF issued by Proshares (BITO) launched on October 19. BITO's total assets under management (AUM) swelled to above $1 billion in less than two days, andcoincided with Bitcoin's spot price setting a fresh record— making for a tough follow-up act.
By holding BTC futures contracts from the Chicago Mercantile Exchange (CME) in each fund, the composition of these products isn't meaningfully different. It also explains why an issuer's success at launching a Bitcoin ETF has depended so much on releasing the product before competitors.
"With each new Bitcoin futures-based ETF, the impact for the entire cryptocurrency market is diminishing," Edward Moya, Senior Market Analyst with Oanda, told Yahoo Finance.
The latest fund offers at least one competitive advantage according to Moya, which might provide a catalyst for its success — fees are cheaper. While BITO and Valkyrie's fund (BTF) both carry fee requirements of 0.95%, XBTF only costs 0.65%.
"Even though our product is third to market, we feel the benefits our product brings outweigh the timing," said Kyle DaCruz, director of digital assets products with VanEck. Along with lower fees, DaCruz also pointed to the difference in tax structure between VanEck's ETF and its competitors.
Unlike most ETFs regulated under the 1940s securities law, VanEck's fund is regulated as a C-Corporation, which means it could provide better tax advantages for long-term investors. Part of the C-structure's appeal involves letting investors allocate their losses between years of high and low return.
That means in a bad year for Bitcoin, the fund's losses can be pulled forward, or clawed back, to offset higher taxes from profitable years, market participants say.
It's "more flexibility to offset [capital] gains" according to DaCruz. "For those with higher ordinary income tax brackets, the C Corp is far and away a more optimal solution," he added.
Yet by coming to the market later than its competition, Eric Balchunas, Senior ETF Analyst for Bloomberg, says VanEck's fund will face an uphill battle. Still, evidence that regulators aren't likely to approve a spot ETF anytime soon could work in their favor.
VanEck's better fee structure could become popular with financial advisors, Balchunas explained to Yahoo Finance.
Financial advisors who account for roughly 75 to 80% of the overall U.S. ETF buyer market might begin buying Bitcoin futures-based ETFs in the next several months, the analyst noted. In that scenario, XBTF will be able to sell itself as the cheapest option.
"Give it a couple of months and in a year, I wouldn't be surprised if this fund had $500 million assets under management," said Balchunas.
Any fund with over $100 million AUM is considered a successful ETF, the analyst added.
Currently trading at $41 per share, BITO holds more than$1.2 billionAUM. Valkyrie's BTF grasps a smaller but still significant $54 million AUM and trades at $25 per share.
David Hollerith covers cryptocurrency for Yahoo Finance. Follow him@dshollers.
Read the latest financial and business news from Yahoo Finance
Read the latest cryptocurrency and bitcoin news from Yahoo Finance
Follow Yahoo Finance onTwitter,Instagram,YouTube,Facebook,Flipboard, andLinkedIn || Burger King Partners with Robinhood for "Side of Crypto" Giveaway: Forget an order of fries , a handful of cheesy tots , or a stack of Impossible Nuggets: Burger King wants to give everyone a (digital) handful of Dogecoin with their next order. On Monday, the fast food giant announced its limited-time "Burger King with a Side of Crypto" offer, which allows Royal Perks members to claim a free cryptocoin every day. According to the Burger King Crypto website, the chain has partnered with investment app Robinhood Crypto for the promotion. Between today and Sunday, November 21, Burger King will be giving away 2 million Dogecoin, 200 Ethereum, and 20 Bitcoin. As of this writing, one Dogecoin is worth $0.27 cents, one Ethereum is valued at $4,356, and a single Bitcoin clocks in at $61,807. (Burger King puts your odds of winning a Bitcoin at 1 in 100,011.) Burger King x Robinhood Burger King x Robinhood In order to claim a free cryptocoin, you must be a member of Burger King's Royal Perks loyalty program, and make at least a $5 pre-tax purchase either through the Burger King app or on BK.com using "My Code," which can be requested during checkout. After ordering, you'll receive an email with a prize code that can be used to claim your free cryptocurrency through the Robinhood app. All prizes must be claimed by Friday, December 17. (Yes, you're required to have a Robinhood Crypto account in order to claim your prize, but existing Robinhood Crypto customers don't have to create a second account.) For in-store orders, you'll need to sign into your Royal Perks account, select the restaurant you're visiting, and click "My Code." After placing your order, you'll need to show the six-digit code to the cashier before paying. (Burger King also notes that not all Burger King restaurants participate in the in-restaurant Royal Perks program, but you can check online to see if your local fave is one of them.) In a statement sent to USA Today , Maria Posada, Burger King North America's vice president of digital guest experiences, said that Burger King's partnership with Robinhood was a "natural fit," because the restaurant was "offering crypto in a way that's accessible and digestible (literally and figuratively) through our food." This might be Burger King North America's first foray into cryptocurrency, but others around the world have previously experimented with them. In 2017, Burger King Russia supposedly produced its own cryptocurrency called — of course — Whoppercoin. The details around the Whoppercoin release were scarce, but basically customers could score a single Whoppercoin with the purchase of any real-life Whopper. Earlier that year, a single Burger King restaurant in Moscow accepted Bitcoin as payment for a meal purchase, a transaction that was reported as "the first official" use of Bitcoin in exchange for goods and services in Russia. Some Burger King locations in the Netherlands also briefly accepted Bitcoin as payment, and one restaurant promised a free Whopper to any customers who paid with the cryptocurrency. That promo seems to have ended in 2018. || US SEC Rejects the VanEck Spot Bitcoin Exchange-Traded Fund: The United States Securities and Exchange Commission has announced that it had rejected the VanEck Bitcoin ETF proposal.
The United States Securities and Exchange Commission (SEC)announcedearlier today that it had rejected abitcoinexchange-traded fund run by VanEck. The ETF sought to track the spot movement of Bitcoin’s price.
This latest development doesn’t come as a surprise as the SEC has made it clear on numerous occasions that it fancies approving a spotBitcoinETF at the moment. The regulatory agency has always maintained that it is concerned about possible manipulation in the Bitcoin market, and that would affect investors.
The VanEck Bitcoin ETF proposal was filed by the Cboe BZX Exchange in March. CBOE wanted to list the VanEckBitcoinETF and sought to become the first fund that was tracking Bitcoin’s spot price in the United States.
While the US continues to reject Bitcoin ETF proposals, Canada is already leading the way in the market as it has approved a few Bitcoin and Ether ETFs. American institutional investors like Ark Invest are gaining exposure to spotBitcoinETFs in Canada.
The rejection comes barely a month after theSEC approved the first futures-based bitcoin ETFs: theProShares Bitcoin Strategy ETFand theValkyrie Bitcoin Strategy ETF. The SEC said it prefers to approve ETFs that track Bitcoin futures instead of Bitcoin’s spot price.
The ProShares Bitcoin Strategy ETF (BITO) and Valkyrie Bitcoin Strategy ETF (BTF) have been trading in the red zone since the SEC rejected the VanEck Bitcoin ETF proposal. BITO and BTF are currently the two existing Bitcoin-related ETFs in the United States.
At press time,BTFis down by 1.34% and is trading at $25.32 per share, whileBITOis trading at $45.15, down by 1.23% over the past few hours. The ETFs could drop lower by next week as the market adjusts to the SEC rejection news.
Thisarticlewas originally posted on FX Empire
• ASX200: Weekly Wrap – 12/11/2021
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• Crude Oil Weekly Price Forecast – Crude Oil Gives up Early Gains for the Week
• Shiba Inu Coin – Daily Tech Analysis – November 13th, 2021
• Gold Price Prediction – Prices Rally as Momentum Turns Positive
• Natural Gas Price Prediction – Prices Tumble Falling 13% for the Week
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 49200.70, 49368.85, 50582.62, 50700.09, 50504.80, 47672.12, 47243.30, 49362.51, 50098.34, 46737.48
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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.
|
[Technical Analysis for 2015-03-09]
BTC Price: 289.61, BTC RSI: 68.51
Gold Price: 1166.40, Gold RSI: 28.98
Oil Price: 50.00, Oil RSI: 49.72
[Random Sample of News (last 60 days)]
Police risk losing tech arms race with criminals: Europol: AMSTERDAM (Reuters) - Austerity and funding cuts threaten to place police at a technological disadvantage against increasingly innovative and high-tech criminal organizations, Europe's policing agency warned on Monday. Europol said criminal gangs had a new array of technological tools at their disposal, ranging from hard-to-trace virtual currencies like Bitcoin to communications systems that allowed organizations to become looser and more decentralized. "Sustained austerity threatens to leave law enforcement behind the curve and unable to close the gap to criminal actors, who continuously innovate and invest," the Hague-based organization said in a report. Scattered crime groups would increasingly do deals in a "virtual criminal underground," carrying out transactions using virtual currencies and leaving little organizational footprint for police to target, Europol said. Europol's warning echoes concern in national intelligence agencies. Last year, the Netherlands said Islamist radicals in Europe were increasingly organizing themselves online, becoming an elusive and decentralized "swarm". Cracking such networks would need skills few police forces currently had, Europol said, adding that if budgets did not rise, victims of cybercrime might have to step up themselves, "crowdsourcing" the funding to investigate incidents. The agency said that the shifting balance of the global economy would also bring about changes in the nature of the crimes faced by police in Europe. As the continent's relative prosperity declined, the streams of economic migrants trying to enter the continent via the Mediterranean and the Balkans would slow or change direction. "Europe ... may not necessarily remain in the top tier of desired destination regions" for economic migrants, it said. In the longer term, criminal gangs could begin offering their services to European economic migrants hoping to gain illegal entry to the Asian or South American labor markets. (Reporting by Thomas Escritt; Editing by Crispian Balmer) || Bitcoin Merchant Payment Gateway AsMoney Launches Offering Free Cryptocurrency Transactions And Web Wallets For Anyone Worldwide: U.K based Bitcoin payment gateway AsMoney is pleased to announce their official launch; with zero fees, mass payments, auto conversion to USD and Euro, online crypto wallets, and multiple cryptocurrencies available. London, England / ACCESSWIRE / February 23, 2015 / Six months after starting the beta version of their service, British Bitcoin startup AsMoney has just launched their official cryptocurrency payment processing platform AsMoney.com: offering zero fees on cryptocurrency transactions. AsMoney allows anyoe online to transfer money in cryptocurrencies Bitcoin, Litecoin, Dogecoin, Peercoin and Darkcoin; these can all be accepted online via AsMoney's payment gateway. The in-house developed AsMoney payment gateway is designed so flexible that it allows merchants to accept a specified coin such as Bitcoin and convert customers payments with live rates into their preferred local currency such as USD or Euros . AsMoney takes no fees for cryptocurrency transactions, a 0.5% fee for transfer of local currencies between accounts and a 1% fee for withdraw making it a price competitive payment option. Due to the price fluctuations of cryptocurrencies, some merchants prefer not to accept cryptocurrencies, while merchants using with live rates whenever they need. AsMoney takes on board the risk of cryptocurrency price changes, so merchants can reduce their exposure to cryptocurrency exchange rate risk. On the other hand, due to the nature of cryptocurrencies, when Bitcoin prices go up network fees goes up too, hence AsMoney´s free cryptocurrency transactions make it an appropriate choice for micro-payments . AsMoney supports multiple currencies and allows people to send money based on location and their local currency; as well as 'mass payments' to multiple receivers - a service that could be helpful for companies of any scale. Gintatus Vileita, the founder of AsMoney states, "Initially, our plan was to create a Bitcoin payment gateway, but after a while, we came to the conclusion that users needed a comprehensive solution so as to have access to a set of various cryptocurrencies. A Merchant is in need of more hardware resources and more development expenses for adding new Coins, but AsMoney creates a situation in which all popular Coins can be accepted through one payment gateway." Story continues AsMoney strives to make Bitcoin more user-friendly for the not so tech-savvy user, and is a simple way to send and receive crypto payments. The platform also provides a web-based ewallet for sending, receiving, and storing Bitcoin without the need to download software. AsMoney also provides a secure payment gateway for anyone selling product or services online. The Bitcoin gateway provides a secure API for concurrent mass payments, instant cryptocurrency payments with no transaction costs, exchange possibilities for BTC and LTC to other currencies, and supports multi-currency transactions. After six months of analysis, market research, and software testing the experienced AsMoney team can now introduce the final version of the site. During this period AsMoney has added five popular cryptocurrencies and their range now includes Bitcoin, Litecoin, Dogecoin, Peercoin and increasingly popular Darkcoin . AsMoney is planning to potentially add more cryptocurrencies in the future and has due to popular demand chosen to offer their services in Russian. AsMoney offers industry-standard encryption for the transmitting of all sensitive information, regular backups, a highly secured data center for storing user information with approximately 90% of customer funds in cold storage to prevent theft or loss. AsMoney also has 24/7 account and transaction monitoring both by computer systems and by live security agents, all employees must pass criminal background checks and are required to encrypt their hard drives, utilize strong passwords and enable screen locking. Further in-client side security is also supported; AsMoney has creative pincode structure and supports 2-step authentication to prevent malware stealing clients account information. After 18 months in development, AsMoney might very well become a popular crypto payment platform for online merchants and cryptocurrency users alike. For more information about us, please visit https://www.asmoney.com Contact Info: Name: Paul Redden Email: [email protected] Organization: AsMoney SOURCE: AsMoney || The Mobile Payments Race Is On: ReportsthatSAMSUNG ELECT LTD(F)(OTC:SSNLF) bought mobile payments startup LoopPay have investors wondering who will win the mobile payments race.
The deal throws another contender into the mix whereApple Inc.(NASDAQ:AAPL) is already vying withGoogle Inc(NASDAQ:GOOG)(NASDAQ:GOOGL) to push its own system.
Apple Pay A Tough Sell
For months, Apple has been touting the benefits of its mobile pay system, compatible with the iPhone 6 and the soon-to-be-released smartwatch, with only one drawback – merchant participation.
Apple’s system requires participating retailers to purchase special payment pads as well as pay a service fee similar to that of credit card transactions.
While many merchants have signed on to offer the service, some have been hesitant about the investment costs. Despite that, Apple has remained confident that widespread adoption of Apple Pay is inevitable as popularity grows among consumers.
Related Link: Apple's Smartphone Share Poised To Overtake Samsung
Move Over Apple
However, Samsung looks likely to give consumers and merchants another very attractive option— LoopPay. The mobile payment startup’s system works using existing credit card readers that most stores already have available.
That is good news for everyone involved, except Apple of course, since it means that any retailer that accepts credit cards will be able to offer the service.
Samsung is expected to launch a new smartphone as early as next month that incorporates LoopPay technology, providing Apple with some stiff competition.
See more from Benzinga
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Microsoft Proves It's Still An Innovator: Microsoft Corporation (NASDAQ: MSFT ) fired back at naysayers who claim the company has fallen behind peers like Apple Inc. (NASDAQ: AAPL ) and Google Inc (NASDAQ: GOOG )(NASDAQ: GOOGL ) in the tech race by unveiling a new operating system and some very impressive hardware Wednesday. Related Link: Windows 10 Offers Chance To Reload On Microsoft If You Didn't Get In Before Windows 10 The company’s latest operating system, Windows 10, is expected to shift Microsoft’s business plan to make room for new devices and embrace the growing popularity of app purchases. The new system will be a free upgrade for many existing users, something that could cost the company as much as $500 million . However, Microsoft is looking to make up for the lost revenue as customers spend on apps and new hardware. The Future Is Here Speaking of hardware, the talk of the town on Wednesday was Microsoft’s latest gadget, a holographic visor. The visor is able to project lifelike 3D images of everything from the surface of Mars to a Skype call. Microsoft said the technology will be ready for mass markets in autumn when Windows 10 is released, but critics believe the company will need more time to prepare the device for the general public. As with all wearables, it remains to be seen whether or not people will be willing to wear the visor, but it is expected to be a popular addition to video games like Minecraft. Virtual reality technology is expected to become a major part of computing in the coming years and it looks like Microsoft will be the first to step into the new arena. See more from Benzinga For Investors, There Are Several Ways To Play The Personal Surveillance Trend 5 Companies To Watch As Music Streaming Explodes Is Bitcoin Poised For Success In 2015? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 'Days Felt Like Years': What Morgan Spurlock Found When He Tried to Survive on Bitcoin for a Week: Morgan Spurlock ate nothing but McDonald’s slop for 30 days straight and didn’t die. Surely he can live on bitcoin alone for a week and survive. That’s what the Super Size Me director and star attempted to do in last night’s installment of Morgan Spurlock Inside Man , his docu-series on CNN. And, for the most part, he succeeded, give or take a missed meal or a few. Related: 'Super Size Me' Filmmaker Is Producing a New Web Series on Entrepreneurship “I’m pretty much like everyone else,” the handlebar-moustached host said at the top of the episode, filmed last year when a single bitcoin was still worth around $630. “I’ve heard the news stories of bitcoin, but I really don’t know what it is.” The 44-year-old documentarian is far from alone there. A full three-quarters of Americans still don't know what the world’s first digital currency is and they have zero interest in using it, a recent study found. Of course, before Spurlock could use bitcoin, he had to get his hands on some first, which he quickly accomplished at the buzzing Bitcoin Center NYC , not accidentally “just a stone’s throw from the New York Stock Exchange and Wall Street.” There, in a “sweaty” throng that he described as a “really smart guys’ frat party,” he acquired his first bitcoin using an Android phone and a bitcoin wallet app called Aegis Wallet . (Oddly, the app’s website is now MIA .) Spurlock forked over what looked like $630 for one BTC. Man, those were the days. One bitcoin is now worth around $242, per CoinDesk . Related: Why This Internet Pioneer Believes Bitcoin Has the Power to Break the Cycle of Poverty Next, with a new “invisible” chunk of virtual cash burning a hole in his pocket, Spurlock sets out to “see what it can do.” But first he explained, aided by cool animations, that bitcoin is “just like any other currency,” except it requires no middle man and is anonymous, “well, sort of.” But back to spending that fresh, hot BTC...starting with a fresh, hot slice of margherita pizza and a bottle of water. With a scan of his bitcoin wallet QR code on his smartphone screen, Spurlock scored both forms of sustenance from a bitcoin-friendly neighborhood pizzeria. The meal total: $5.27 or .0083 BTC. Success. “It was so easy! Look at that. Pow! I’m the king of bitcoin,” he boasted before digging in. Given its cheesy bitcoin history , pizza was an apropos first purchase. Story continues Related: 50 Insane Facts About Bitcoin (Infographic) Spurlock’s mellow bitcoin odyssey then takes him to a Brooklyn bodega, where he bought $42.72 worth of groceries in the cryptocurrency. The store owner said he clocks about 1,000 bitcoin transactions at his produce shop per month and that he prefers bitcoin payments to credit card payments. Why? Because they’re cheaper, safer and there’s no chargebacks, the shopkeeper said. Not all shopkeepers are so keen on the virtual money, though. Several Spurlock tried to pay in bitcoin had never heard of it before. He also comes up cold when trying to pay his Time Warner cable bill and several other bills in bitcoin. Midway through the show, Spurlock gets around to digging into the seedy underbelly of bitcoin and the growing fears of fraud plaguing the controversial currency in the wake of the fall of Mt. Gox and Ross Ulbricht’s recent conviction . To get some answers, he talked with legendary white-hat hacker Dan Kaminsky, Senator Joe Manchin (D-West Virginia), bitcoin booster Andreas Antonopoulos and Chris Tarbell, a former FBI agent who assisted in the takedown of Silk Road. With a reluctant guiding hand from Tarbell, Spurlock scored a “Faux-lex,” a fake Rolex Submariner on the now defunct Silk Road 2.0 . The illegal knockoff, “possibly taken from someone’s house earlier today,” Tarbell mused, totaled about .45 BTC (or about $285), express shipping and handling from Hong Kong included. Related: Bitcoin in 10 Years: 4 Predictions From SecondMarket's Barry Silbert Spurlock’s journey eventually lands him at Coinminer , a bitcoin mining operation. He traveled to the startup’s Geneva, N.Y. factory, after buying plane tickets to nearby Rochester with BTC on Expedia (and showed his entire bitcoin wallet address to the world in the process). He put together bitcoin mining processors at Coinminer for about a $200 day’s pay, paid out in, yep, bitcoin. By the end of his shift, he knew the basics of bitcoin’s blockchain backbone and his stomach was growling, but his hunger would not be satisfied in Geneva. Highlighting bitcoin’s continued lack of mass adoption, Spurlock wasn’t able to find one restaurant that accepted the nascent crytpocurrency. Related: U.S. Marshalls to Auction 50,000 Bitcoins From Silk Road “OK, so maybe I overestimated the popularity of bitcoin just a little bit,” he admitted, “and, in time, some of these restaurants might start accepting bitcoin, but not until it becomes immensely more popular...All I wish is that I could actually, like, eat bitcoin because I’m starving.” In the end, Spurlock said trying to live off of bitcoin for a few days felt like years. Hey, at least he didn’t gain 25 pounds and nearly blow out his liver like he did in Super Size Me . Check back with him after the world super sizes bitcoin, which could be a few decades, at least. Related: 16 Startup Trends That Will Be Huge in 2015 || New York Weighs Benefits Of Bitcoin Integration: Last week, New York City councilman Mark Levine proposed the introduction of bitcoin into the city’s payment options for fines.
Levine introduced a bill that would integrate bitcoin on Thursday, saying thatcryptocurrencyacceptance within the state government was an important step in keeping New York at the forefront of technology.
Bitcoin Would Save On Transaction Fees
In an interview withCoinDesk, Levine said the initial reason he supported the idea of bitcoin payments was the anticipated savings on transaction fees. Credit card fees take up a significant portion of the city’s revenue from parking tickets and other fines, but bitcoin payments would eliminate that problem.
His concerns about transaction fees echo that of several major companies who have chosen to integrate cryptocurrency payments. Since bitcoin eliminates the need for a third party, transaction fees are non-existent.
Bitcoin Integration Gives NY A Leg Up In Attracting Startups
Levine said that cost savings wasn’t the only reason bitcoin payments would be beneficial to the city. He said that with more and more startups choosing New York rather than Silicon Valley as a home for their ventures, it would be important for the Big Apple to jump on board with cryptocurrency payments ahead of the curve.
New York Historically Supports Bitcoin
New York has already been at the forefront of bitcoin adoption; the city was home to the world's first brick-and-mortar bitcoin center, and city officials developed a BitLicense in an effort to protect consumers.
The license requires bitcoin operators to maintain a customer database and keep a reserve of bitcoin to match customer assets.
See more from Benzinga
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• 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. || Alternet Systems Advances Strategic Initiative to Become a Leading Global Digital Currency Exchange Through OneMarket: MIAMI, FL--(Marketwired - Feb 12, 2015) -Alternet Systems, Inc.(OTCQB:ALYI) (the "Company"), a business to business facilitator for digital currency and mobile commerce services in the digital asset and virtual currency ecosystem, today announced that the Company continues to make progress on their strategic initiative to become a leading global digital currency exchange through its wholly-owned subsidiary OneMarket (www.onemarket.net). The Company continues to aggressively pursue the highly anticipated New York State BitLicense, which will further facilitate a global exchange roll-up strategy.
In July of 2014, the New York Department of Financial Services revealed its regulatory framework, stating that businesses that receive, transmit, store, exchange, issue or convert virtual currency for customers will need to be licensed. New York State's top financial regulator, Benjamin Lawsky, the superintendent of the state's Department of Financial Services recently stated that he hoped to approve the first companies early this year according to the New York Times. Coinbase, a leading industry wallet service, recently announced a $75 million funding which included the New York Stock Exchange and became the first licensed U.S. based Bitcoin exchange approved to operate as an exchange in 24 states. The Company believes that this was an important industry milestone and has positive commercial implications for other companies such as Alternet Systems going forward.
Alternet Systems, through OneMarket, is setting the agreements, plans and procedures in place to become a global digital currency exchange. In doing so, OneMarket will buy/sell digital currency, foreign currencies and commodities. Additionally, OneMarket will offer an entire suite of financial and payment consumer products designed for digital and fiat currencies such as a debit and credit card.
Henryk Dabrowski, CEO of Alternet Systems, stated, "Coinbase's recent funding and launch of the first licensed Bitcoin exchange was an important signal to investors of the commercial opportunities in the growing market for digital assets. Alternet continues our aggressive pursuit of a license in New York State, working closely with their regulators, as we are also evaluating several global opportunities to utilize our public company platform and strong industry relationships to possibly consummate strategic acquisitions of currency exchanges. It is our intent to continue pursuing a strategy of cooperation with regulators so that when we are granted permission we have put all the necessary building blocks in place to take the maximum advantage of our ability to monetize."
About Alternet Systems, Inc.:Alternet Systems, Inc. is an enterprise accelerator company focused on the complementary, high-growth markets of Digital Currency and Mobile and Internet Commerce products and services. Through its subsidiaries, Alternet captures and converts extraordinary growth opportunities surrounding the explosion of newly adapted Internet technologies and platforms.
More information about Alternet and its subsidiaries can be found atwww.alternetsystems.comand by following the company on Twitterwww.twitter.com/alternetsystems.
Safe Harbor Statement: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. || Is Bitcoin Speculative Foolery or a Financial Services Breakthrough?: While the Internet-based currency Bitcoin has been a big headline-grabber, I have always considered it to be more speculative foolery than transformative technology. But one of my fellow CNBC contributors,Brian Kelly-- a Bitcoin authority and author of the new book,The Bitcoin Big Bang-- convinced me to learn a bit more about it.
While I haven’t become a full-fledged Bitcoin believer, in speaking with Kelly and reading his book, I have come to appreciate the applications for the technology and believe that it may be useful in the future.
Here is some of what he says makes bitcoin a breakthrough for financial services and why he thinks that it is something that small business should pay more attention to.
Related:Why Shark Tank's 'Mr. Wonderful' Thinks Women Make Better CEOs
Roth: I’ve always thought that Bitcoin is a fad that will end badly. What am I missing?Kelly:The biggest thing that people miss is that Bitcoin is more than just a currency. There are two parts: Bitcoin with a small 'b' is the currency, while Bitcoin with a big 'B' is the revolutionary technology also known as “the blockchain.” The blockchain technology allows value transfer between two unknown parties without the use of a middleman -- this is the first time in the history of money that this has happened.
So, if the technology is the important part of bitcoin, how do you think Bitcoin will be embraced and used differently in the future?In my view, the Bitcoin technology will be the backbone of the financial system. People may be using Bitcoin and may not even realize it since it will simply be the infrastructure that the financial system runs on.
Do you think that small businesses can benefit from using bitcoin? If so, how?The small-business angle currently is a cost play. For example, with a company like BitPay, a small business that accepts bitcoin may be able to save $3,000 a month for every $100,000 in sales versus traditional payment systems, such as Visa, Mastercard, Paypal, Square, etc.
You also say that bitcoin helps facilitate the globalization of small businesses. Can you speak more about that?Think about global small-business use in the context of international wire transfers. For example, I have a few contractors that reside in Switzerland and the United Kingdom. In order to pay their invoices, I would typically go to the bank, spend 30 minutes filling out paperwork, pay a big fee for the wire transfer and wait all day for confirmation. Additionally, there is a cost for the foreign currency exchange.
Related:Why Smart People Make Bad Entrepreneurs
Instead, now I pay in bitcoin. It costs me nothing, it arrives in seconds and there are no FX translation costs.
Bitcoin effectively removes the challenges of transacting business in differing currencies and allows for quick transactions that are lower in cost.
If a small business wants to get started using Bitcoin, what should it do first?The easiest way for a small business to start using Bitcoin is through a payment processor like Coinbase or BitPay. Coinbase has a very easy, user friendly button for websites; it is similar to adding a PayPal button to your website.
If you need an enterprise-level solution, then BitPay is a great choice; they can integrate with your current accounting system. BitPay just signed a deal with Microsoft to provide a bitcoin payment option.
What risks are there for small businesses using bitcoin?Right now, the biggest risk is the currency fluctuation, but most payment processors offer an immediate conversion to fiat (meaning a local currency, such as the U.S. dollar) which eliminates that risk. While I believe Bitcoin is not going away, entrepreneurs need to keep in mind that it is an emerging technology and just like the earlier Internet, it is bound to have a few hiccups.
Related:Never Hire a Honey Badger || U.S. bitcoin exchange makes debut: NEW YORK (Reuters) - Bitcoin payments processor Coinbase on Monday opened a regulated exchange in the United States for trading the virtual currency, the company said. Launched just days after Coinbase raised $75 million from blue-chip financial institutions such as the New York Stock Exchange, the Coinbase Exchange was meant to help stabilize the bitcoin network, which has no central regulator or overseer, the company said. Coinbase users in 24 states and U.S. territories can immediately trade on the exchange, which will charge no fees through March 30, according to a blog post by the San Francisco-based company. Details of the new exchange's volumes were not immediately available. The value of highly volatile bitcoin was up 5.2 percent on Monday afternoon at $265.49, according to Thomson Reuters data. (Reporting By Michael Connor; Editing by Jonathan Oatis) || Hong Kong warns over digital currencies amid alleged bitcoin fraud: By Michelle Price
HONG KONG (Reuters) - Hong Kong's central bank has warned people against investing in virtual currencies amid local media reports that a bitcoin exchange may have run off with $387 million in client funds - making it potentially the biggest bitcoin scandal after last year's bankruptcy at Tokyo-based Mt.Gox.
The South China Morning Post reported on Monday that clients of Hong Kong-based MyCoin had approached a local lawmaker alleging the company absconded with their money. An assistant for Legislative Council member Leung Yiu-chung told Reuters that Leung had received more than 15 complaints from MyCoin clients regarding the alleged fraud, and these would be passed on to the police on Wednesday.
The Hong Kong Monetary Authority (HKMA) said in a statement late on Monday that the case "may involve fraud or pyramid schemes," adding: "Given the highly speculative nature of Bitcoin, we have all along urged the public to exercise extra caution when considering making transactions or investments with Bitcoin."
Calls to MyCoin in Hong Kong could not be connected. Calls to the company's China customer service line were not answered.
Bitcoins are created through a 'mining' process where a computer's resources are used to perform millions of calculations.
Advocates say the virtual currency is revolutionary as it's not controlled by a central bank and has potential as an alternative means of online payment. But the rise of bitcoin, which is unregulated in many countries including Hong Kong, has stoked concerns it can be used as a vehicle to launder money and finance extremist groups.
Mt.Gox, once the world's largest bitcoin exchange, filed for bankruptcy a year ago after it claimed to have lost around $500 million worth of customer bitcoins in a hacking attack.
On its website, MyCoin claims to be a "leading global Bitcoin trading platform and application service provider," with a China-based research and development team.
MyCoin promised clients a HK$1 million ($128,976) return over a 4-month period based on a HK$400,000 investment that would produce 90 bitcoins on maturity, the South China Morning Post reported, adding MyCoin claimed to have 3,000 customers each investing an average of HK$1 million.
The price of a bitcoin has slumped from a late-2013 high of above $1,000 to around $220, according to CoinDesk's price index.
($1 = 7.7534 Hong Kong dollars)
(Additional reporting by Anne Marie Roantree; Editing by Ian Geoghegan)
[Random Sample of Social Media Buzz (last 60 days)]
1 #bitcoin = $3800.04 MXN | $260.53 USD #BitAPeso Precio: http://www.bitapeso.com - Monday 26th of January 2015 11:00 PM || BTCTurk 579.38 TL BTCe 229.95 $ CampBx 245.00 $ BitStamp 238.35 $ Cavirtex 279 $ CEXIO 234 $ Bitcoin.de 210.92377555 € #Bitcoin #btc || LIVE: Profit = $444.00 (0.56 %). BUY B297.30 @ $268.01 (#BTCe). SELL @ $269.67 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || 1 #BTC (#Bitcoin) quotes:
$273.88/$273.99 #Bitstamp
$271.99/$272.00 #BTCe
⇢$-2.00/$-1.88
$275.01/$275.30 #Coinbase
⇢$1.02/$1.42 || $239.56 at 20:00 UTC [24h Range: $236.07 - $241.00 Volume: 6320 BTC] || Current price: 181.24£ $BTCGBP $btc #bitcoin 2015-03-07 22:00:05 GMT || buysellbitco.in #bitcoin price in INR, Buy : 15580.00 INR Sell : 15072.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || 1 #BTC (#Bitcoin) quotes:
$233.00/$233.07 #Bitstamp
$223.77/$223.90 #BTCe
⇢$-9.30/$-9.10
$233.35/$233.42 #Coinbase
⇢$0.28/$0.42 || 2015年2月4日 00:00:02
BTC_MONA
買[bid]:5300.00000000MONA
売[ask]:5450.00000000MONA
API by もなとれ || Current price: 276.66$ $BTCUSD $btc #bitcoin 2015-01-10 20:00:03 EST
|
Trend: down || Prices: 291.76, 296.38, 294.35, 285.34, 281.89, 286.39, 290.59, 285.51, 256.30, 260.93
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on 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 2018-10-31]
BTC Price: 6317.61, BTC RSI: 37.14
Gold Price: 1212.30, Gold RSI: 48.10
Oil Price: 65.31, Oil RSI: 31.20
[Random Sample of News (last 60 days)]
Can Baidu Overcome Trade War Fears When It Reports Earnings?: The past several months haven't been kind to investors in Chinese stocks. The ongoing economic saber-rattling between Washington and Beijing has created an atmosphere of worry that's weighing on companies from the Middle Kingdom. EvenBaidu(NASDAQ: BIDU), China's search leader, hasn't been immune. Though the companycrushed earnings expectations last quarter, the combination of trade tensions and the possibility ofAlphabet's Google search unit reentering the Chinese market have helped sink its share price. Baidu stock has lost nearly a third of its value since it peaked in mid-May.
The company reports on its third quarter after the market close on Oct 30, and shareholders are hoping that strong results will be enough to pull the stock out of its slump . Let's take a look at the company's results from last quarter and see if they provide any context for the future.
Baidu's Silicon Valley AI Lab. Image source: Baidu.
Forthe second quarter, Baidu reported revenue of $3.93 billion, an increase of 32% year over year, which surpassed analysts' consensus estimate and landed at the high end of management's guidance. The bottom line was similarly robust, with adjusted earnings per share of $3.18, significantly higher than the $2.44 expected by analysts.
In Q2, Baidu delivered on all the metrics that count. Online advertising sales increased 25% year over year, while the number of its digital marketing customers grew 9% to more than 511,000. The company not only added new advertisers, but its customers spent more, as revenue per customer grew 16% to $6,200.
Baidu's recently spun-off streaming serviceiQiyi(NASDAQ: IQ)added $932 million in revenueto Baidu's coffers, a 51% increase over the prior-year period. Content costs grew to $788 million, up 68% year over year, as the company continued to invest in programming for the subsidiary. Baidu still owns a controlling stake in iQiyi, so it will continue to have an impact on its parent's results.
The search giant has been divesting itself of a number of businesses outside its core operations so it can focus its resources on search and a variety of artificial intelligence (AI) technologies, including voice control, real-time translation, facial recognition, and self-driving cars.
Escalating trade tensions had already knocked the stock down somewhat from its May highs by the time Baidu reported in late July. The sell-off intensified when rumors surfaced that Google was planning to bring a version of its search product back to mainland China, in a move that would challenge Baidu's dominance in what was a fairly captive ad market.
Alphabet has since confirmed that it's testing a censored version of its Google search that could eventually go online in China, if given the go-ahead by officials in Beijing. The company still must deal with protests about the move from its employees, and criticism from Congress about the plan, which some have described as unethical.
Baidu received permits to test self-driving cars in Beijing. Image source: Baidu.
For Q3, Baidu has forecast revenue of between 27.37 billion yuan and 28.77 billion yuan, (between $3.94 billion and $4.15 billion at current exchange rates), which would represent year-over-year growth of between 23% and 30% in local currency. It's in the process of selling off a number of non-core businesses -- excluding those from the results, it's anticipating revenue in a range of 26.56 billion yuan to 27.92 billion yuan ($3.83 billion to $4.02 billion), or year-over-year growth of between 26% and 33%.
Analysts' consensus estimates call for revenue of $4 billion, up 18% year over year (in dollars), and for earnings per share of $2.43, a decline of 35%.
While the potential for increased competition and global affairs to drag on its Baidu's business certainly bear watching, investors will eventually have to return their focus to the company's performance -- which lately has been just fine.
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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors.Danny Venaowns shares of Alphabet (A shares), Baidu, and iQiyi. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Baidu. The Motley Fool recommends iQiyi. The Motley Fool has adisclosure policy. || Will Bitcoin Fall Further?: Everybody who has been following and trading Bitcoin recently, are likely to be disappointed. For eight months now, since February 2018, the price of Bitcoin hasn’t budged. The cryptocurrency’s last move in February saw it drop to a low point of 6,000 USD and, since then, there has been decreasing volatility and lower highs, while the lows remain at the same point. These factors are typical of a bearish trend. It is also interesting to add that the Bitcoin daily chart resembles a very big descending triangle pattern, which is a bearish formation.
Also, the king of cryptos has already lost around 70% of its value since its December peak, while other, smaller coins – known as Altcoins – have lost more than 70% of their value. Therefore, this huge decline is on a larger scale than what occurred in 2000, when the dotcom bubble burst.
Meanwhile, the market cap ofBitcoinhas decreased from 330 billion USD to the current market cap of 115 billion USD, while the entire market capitalization of the crypto world, has dropped from 813 billion USD to around 225 billion USD recently. We may see a further drop.
The volatility of Bitcoin has been minimal over the past couple of days and weeks which suggests we may be in either an accumulation or distribution phase – which means a huge move might be around the corner.
Should Bitcoin drop further below the support of 6,000 USD, a quick drop toward 5,000 USD, or even lower, could be in the cards. Another major support, where stronger bids could be located, is at 3,000 USD, which coincides with the triangle pattern potential.
However, if bulls manage to turn the triangle around, we could see a relief rally, targeting 7,400 USD and potentially 8,400 USD.
Therefore, it is crucial that we keep an eye on how the price will behave over the next few days or weeks and, observe on which side of this triangle Bitcoin will break. This could be the major moment for the upcoming future.
Analysis and opinions provided herein are intended solely for informational and educational purposes and don’t represent a recommendation or an investment advice by TeleTrade. Indiscriminate reliance on illustrative or informational materials may lead to losses.
This article was written by Peter Bukov, one ofTeleTrade’s leading analysts.
Thisarticlewas originally posted on FX Empire
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• E-mini S&P 500 Index (ES) Futures Technical Analysis – October 2, 2018 Forecast || Bitcoin – $6,000 Avoided for Now as the Bulls Step in: Bitcoin gained 1.13% on Sunday, partially reversing Saturday’s 3.32% fall, to end the day at $6,255, the day’s gain bringing to an end 5 consecutive days of losses to leave Bitcoin down 14.3% for the week.
A particularly choppy day saw Bitcoin fall back to an early intraday low $6,140.5, before finding support from a broad based cryptomarket rally, the morning low steering clear of the day’s first major support level at $6,044.43 and more importantly, sub-$6,000 levels.
With a late morning rally kicking in, Bitcoin broke through the day’s first major resistance level at $6,400.43 to an intraday high $6,458.9 before succumbing to profit taking late in the day that saw Bitcoin slide back to an evening low $6,211.6.
A partial recovery in the final hour provided Bitcoin with some relatively minor gains for the day, the late in the day sell-off reflective of investor jitters ahead of this week’s EU finance minister gathering and further possible updates from the SEC and the G20 on Bitcoin ETFs and the heavily anticipated set of unified rules and regulations for G20 members.
On the news front, news of the SEC suspending exchange traded Bitcoin and Ether investment products likely contributed to the late in the day reversal, with the suspension another reminder of how influential both regulators and governments can be on the direction of Bitcoin and the broader crypto market.
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At the time of writing, Bitcoin was up 1.05% to $6,305.7, with Bitcoin managing to reverse Sunday’s late in the day sell-off in the early hours, Bitcoin rising from a start of a day morning low $6,239.9 to a morning high $6,373.7 before easing back.
In spite of a bullish start to the day, Bitcoin fell short of the day’s first major resistance level at $6,429.1, whilst also steering clear of the day’s first major support level at $6,110.7.
For the day ahead, holding above $6,285 through the morning would support another run at the morning’s $6,373.7 high to bring $6,400 levels and the day’s first major resistance level at $6,429.1 into play, though we can expect investors to be quick to lock in profits as regulators continue to leave a dark cloud over the broader market.
Failure to hold above $6,285 through the morning will likely see Bitcoin hit reverse later in the day, a pullback through the morning low $6,239.9 likely to bring sub-$6,200 levels and the day’s first major support level at $6,110.7 into play.
While Bitcoin managed to avoid sub-$6,000 levels over the weekend, an anticipated shift in the regulatory landscape is likely to be Bitcoin and the broader market’s ball and chain near-term, investors all too aware of the view regulators in key jurisdictions have on Bitcoin and the market in general.
Elsewhere Lisk was the only crypto with a notable decline in the early hours, down 2.32% at the time of writing, while the majority of the majors enjoyed solid gains at the start of the week,
Thisarticlewas originally posted on FX Empire
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• AUD/USD Forex Technical Analysis – Short-Sellers Targeting Feb 2016 Low at .6973 || Bitcoin – Low Volatility May Be Bad for Traders, But the SEC Might Like It: Bitcoin slipped by 0.67% on Saturday, reversing most of Friday’s 0.74% gain, to end the day at $6,595.1.
The reversal took Bitcoin into negative territory for the current week, Bitcoin down 0.4% to the end of Saturday, in yet another sequence of gains and losses that has left Bitcoin in its extended, low volatility rut.
A start of a day intraday high $6,648.2 saw Bitcoin fall short fall short of the first major resistance level at $6,752.07 and the 38.2% FIB Retracement Level of $6,757, with a broad based market reversal in the late morning seeing Bitcoin pullback to sub-$6,600 levels and an intraday low $6,563.7 before recovering through the afternoon.
Attempts at breaking back through to $6,600 were faced with plenty of resistance, with the Bitcoin bulls unable to hold onto $6,600 levels by the day’s end, in spite of a number of moves through the new line in the sand over the course of the 2ndhalf of the day.
While the low volatility environment will be an unwanted development for the day traders who have enjoyed sizeable intraday swings, it will likely be considered a positive development by both governments and regulators and it couldn’t be timelier, with the SEC’s 26thOctober deadline for the review of the 9 Bitcoin ETF applications that had previously been declined.
The volatility would have been one concern for the SEC, while price manipulation and fraudulent activity remain the key concerns. The low volatility is also a statement that price manipulation has perhaps abated. Anomolies occur and will likely continue, the recent short sell ahead of the Goldman Sachs announcement to hit pause on its cryptocurrency trading desk still a lingering reminder of Bitcoin’s somewhat shady past.
After wild swings and rollercoaster rides, Bitcoin looks to have settled into a long-term relationship with its investors, who are not speculating their days away and appear to be in it for the long haul.
What comes next remains in the hands of governments and regulators, in spite of Satoshi’s dream of decentralisation and a break from the mainstream, but should the environment remain as it does today, Bitcoin and the broader market could soon begin to find its much needed divergence, performances driven by innovation and product differentiation, which would then begin to spell the beginnings of a is already being labelled a maturing market.
Interestingly, as the 10thanniversary of the Global Financial Market stock market crash of 29thSeptember 2008 passed with little fanfare, the Dow Jones Industrial Average (“Dow”) 777.68 point slide the largest intraday fall until this year’s ‘Bitcoinesq’ moves back in February, it wasn’t the size of the fall that was poignant, but the influence it had on Satoshi Nakamoto, as Bitcoin approaches its 10thanniversary.
For the Bitcoin dreamers, longevity is the name of the game. If Bitcoin can enjoy the Dow’s lengthy life, the Bitcoin billionaires will likely be joined by many others. All you need to do is to consider the Dow’s lowly 6,594.44 in March 2009 and this month’s record high $26,828.39 and that’s not even taking a look at the Dow into its 10thyear of existence… At around the Dow’s 10thanniversary the Dow was struggling amidst the Panic of 1896, where the Dow hit its all-time low 28.48.
Get Into Cryptocurrency Trading Today
Back to the present, Bitcoin was down 0.14% to $6,586.1 at the time of writing, with Bitcoin moving back through to $6,600 levels with a morning high $6,605.8 before pulling back to a morning low $6,582.9, the early moves leaving the day’s major support and resistance levels left untested.
For the day ahead, a move back through to $6,600 levels would be needed to support a run at the first major resistance level at $6,640.97 and, while we would expect Bitcoin to continue to face plenty of resistance at $6,600, a break through the first major resistance level would likely to lead to a run at the second major resistance level at $6,686.83 late in the day.
Failure to move back through to $6,600 levels could see Bitcoin call on support at the first major support level at $6,556.47, which should be enough for Bitcoin to avoid more material losses, barring negative news hitting the wires.
Thisarticlewas originally posted on FX Empire
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• Metatrader Master Edition: discover the new plugin to enhance your trading platform – Webinar 9 October || What Volatility? Waitll You See What Happens if Democrats Win the Mid-Terms: U.S. equity markets are down again on Wednesday with the Dow erasing earlier gains. Shares of Boeing tried to carry the Dow higher on the opening, but buyers caved to pressure from a drop in technology shares led by declines in Facebook, Amazon, Netflix and Google-parent Alphabet. Boeing was up on better-than-forecast profit and revenue. It also raised its full-year guidance on earnings and sales. However, this news could not overcome the sell-off in the overvalued tech sector. Is it really any surprise that technology is leading the markets lower this month? As on todays opening, the S&P 500 technology sector was down more than 7 percent in October. It was made clear to investors as recently as August that the FANG stocks Facebook, Amazon, Netflix and Google represented as much as 50% of the stock markets gains this year. So it makes sense that if they weaken, their losses will be a drag on all of the major indexes. Its just another case of Live by the Sword, Die by the Sword for some investors. Factors Driving the Price Action Dont Forget the Mid-Term Elections The list of possible factors driving this months stock market volatility just keeps growing and growing. At the start of the volatility, investors blamed rapidly rising interest rates fueled by Fed policy. Then investors blamed Saudi Arabia and its escalating conflict with the West over the killing of a dissident journalist. This week, a simmering conflict between Italy and the European Union over budget spending seems to be the reason for the markets two-sided swings. Dont forget the tariffs and the on-going trade dispute between the United States and China, and the Brexit impasse (wasnt Brexit expected to cause worldwide turmoil over two years ago?) In my opinion, the timing for the stock market sell-off suggests investors hedging their bets ahead of the November mid-term elections. Voters go to the polls on November 6 and the last analysis shows the Democrats leading over the Republicans. And this is a problem for investors. Story continues A shift in power in Washington will put President Trumps plan to Make America Great Again in jeopardy. Certainly, his plans could start to derail in January when the electees take office. But investors arent going to wait until then to make their move. Back in July, a White House economic advisor said The main thing that could derail markets and the economy would be a Democrat takeover of Congress. He went on to say politics are the main threat to the current economic momentum. I could think of a lot of bad things that could hurt markets, White House economic advisor Kevin Hassett told CNBCs Joe Kernan in a Squawk Box interview. I would say the biggest bad things I could think about is weve made so much progress passing all these policies like tax reform and deregulation that have led to a surge in sentiment and a surge in economic growth. If politics were to change in the U.S. so that Democrats would come in and pass big tax hikes and re-regulate, that would be terrible and markets would be terrified of that, he added. I tend to agree with Hassetts assessment. You think the last two weeks have been volatile, You aint seen nothing yet. Just wait until Tuesday, November 6. If the Republicans lose, get ready to sell with both hands. This article was originally posted on FX Empire More From FXEMPIRE: Technical Outlook For EUR/USD, GBP/USD, NZD/USD & USD/CAD: 24.10.2018 Crude Oil Price Update Room to the Upside as Investors Try to Establish Support Natural Gas Price Prediction Prices Whipsaw Ahead of Inventory Report Commodities Daily Forecast October 24, 2018 USD/CAD Daily Price Forecast USD/CAD Trading Near Flat As Loonie Wrestles For Control Ahead of BOC Rate Update Bitcoin and Ethereum Price Forecast Nothing New in BTC Market || Cryptocurrencies Steady; Dubai Launches Blockchain-Based Payment System: Bitcoin and other major cryptocurrency prices were steady Investing.com - Bitcoin and other major cryptocurrency prices were steady on Monday in Asia. Dubai boosted confidence in digital tokens by launching a blockchain-powered payment system on Sunday. Bitcoin rose 0.1% to $6,705.2 at 12:58AM ET (04:58 GMT) on the Bitifinex exchange. Ethereum climbed 2.86% to $245.74 on the Bitifinex exchange. XRP slipped 0.13% to $0.57301 on the Poloniex exchange, while Litecoin edged up 0.43% to $61.166 on Bitifinex. The Dubai Department of Finance and the Smart Dubai Office debuted their blockchain-powered payment system, which is geared towards government entities, including the Dubai Police, Roads and Transport Authority and Dubai Health Authority. The new system aims to offer a more accurate and transparent governance processes while enabling real-time payments within and between government structures, shortening the current process for transactions that can be up to 45 days. Aisha Bin Bishr, Director General at the SDO, said that blockchain is “one of the most promising of [emerging] technologies.” Brazil also expressed confidence in digital currencies. Grupo XP, the largest independent brokerage in the country, announced plans last week to launch a Bitcoin and Ethereum platform by the end of this year, allowing over 3 million investors in Brazil to invest in the cryptocurrencies. The move came after the Brazilian government and its antitrust watchdog started an investigation into banks and major financial institutions in the country amidst complaints that crypto exchanges received subpar financial services from banks. Grupo XP CEO Guilherme Benchimol said he does not trust the digital tokens as a store of value and consensus currency but felt obligated to cater to clients’ needs. “I must confess, this is a theme I’d rather didn’t exist, but it does. We felt obligated to start advancing in this market.” Related Articles Dubai Department of Finance Launches Blockchain-Based Payment System for UAE Gov’t All But One of Top 20 Cryptos See Green, Bitcoin Safely Above $6,700 From a Ripple to a Tidal Wave: Collaboration With PNC Leads to XRP Surge || All Markets Summit — What you need to know in markets on Thursday: Wednesday was a wild day in markets.
The major U.S. indexes had a mixed close with the Dow outperforming and bank stocks leading the way as the Treasury yield curve steepened.
But the real action on Wednesday came from the cannabis industry, where shares of Tilray (TLRY), a Canadian medical marijuana company, rose as much as 90%, was halted five times, and eventually closed up 38%. As of 5:20 p.m. ET, shares of Tilray were down 9% after hours.
The initial rally in Tilray shares was triggered by comments from the company’s CEOBrendan Kennedyon CNBC’s Mad MoneyTuesday evening that cannabis is a “hedge” for pharmaceutical companies and investors because it can replace prescription opioids and other painkillers.
On Tuesday,Tilray shares had risen almost 30%after the companyreceived DEA approval to import cannabis to the U.S. for medical research.
But the mania in Tilray, however, gained momentum during the trading day, resulting in a wild final two hours of trading where the stock spiked to as high as $300 per share before crashing in a matter of minutes and enduring a successive series of trading halts. The stock closed at $214.06 per share.
In the days ahead, expect the cannabis space — which has been one of the hottest space for traders in recent months —to remain a fascination for investors. The boom in cannabis stocks marks but the latest mania to grip markets after cryptocurrencies late last year entranced investors before this year’s bust in which bitcoin (BTC-USD) and other major cryptocurrencies have lost in excess of 70% of their value.
On Thursday, the economic data calendar will bring investors the weekly report on initial jobless claims, the Philly Fed’s latest reading on manufacturing activity, and the August report on existing home sales.
And on the earnings side, Micron Technology (MU) will be the most closely-watched report with the chipmaker set to report results after the market close.
Other companies scheduled to report earnings include Thor Industries (THO), Steelcase (SCS), and Darden Restaurants (DRI).
Thursday will also be a big day here at Yahoo Finance as we will host our latest All Markets Summit: A World of Change. Speakers include BlackRock CEO Larry Fink, Chairman of the Council of Economic Advisers Kevin Hassett, former FDIC chair Sheila Bair, Home Depot co-founder Ken Langone, Zillow CEO Spencer Rascoff, and Tinder CEO Elie Seidman, among others.
—
Myles Udland is a writer at Yahoo Finance. Follow him on Twitter@MylesUdland
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• Oil prices won’t hurt the economy until they hit $120 a barrel || Norway Bitcoin Investor Murder: Suspect Arrested in France: Makaveli Lindén, the primary suspect in the gruesome murder of 24-year-old Norwegian bitcoin investor Heikki Bjørklund Paltto, is in police custody following a successful international manhunt.
Swedish news outletAftonbladetreports that Oslo police have confirmed that Lindén, 20, has been captured more than a week after heallegedly stabbed Paltto to deathin the latter’s apartment in Oslo’s Majorstuen neighborhood.
Lindén, a foreign national residing in Uppsala, Sweden, hadfled Norwayfollowing the murder, allegedly returning to his home city before leaving Sweden as well. According to local reports, the suspect was ultimately arrested in France, though Norwegian police have not yet confirmed this publicly.
Initially, the crime appeared connected to Paltto’s cryptocurrency investments, which hadreportedlymade him hundreds of thousands of dollars in profits. Sources within the local police department said that he had sold a large amount of bitcoin shortly before the murder, and other sources said that he may have been planning to use the funds — which he was keeping in his residence — to purchase an apartment.
However, Lindén’s alleged involvement in the incident has led police to believe that Paltto may have just been a random victim. The 20-year-old suspect, who had a long rap sheet related to theft and drug abuse convictions, is also alleged to have committed another robbery at knife-point not far from the murder scene.
Featured Image from local police/VG
The postNorway Bitcoin Investor Murder: Suspect Arrested in Franceappeared first onCCN. || Sierra Leone, United Nations to Develop Blockchain Digital ID System: Two of the United Nation’s wings are joining hands with Sierra Leone government to build a blockchain-based ID system for their seven million people.
The UN Capital Development Fund (UNDCF) and the UN Development Programme (UNDP) have entered into a partnership with Kiva, a technology nonprofit. Kiva will lend its institutional protocol of the same name to implement the “Credit Bureau Of The Future.” It would allow Sierra Leone citizens to have complete and secure ownership of their identities, similar to blockchain assets in a decentralized network like that of Bitcoin.
Kiva was working without blockchain for over 13 years. And even without the distributed ledger, the nonprofit managed to crowdfund more than $1.2 billion in loans for people in more than 80 countries. TheirKiva protocolis a new step in the direction of enabling advanced banking access to the unbanked, beginning with Sierra Leone, which is in a dire need for these innovations. Xavier Michon, Deputy Executive Secretary of UNCDF, agreed.
“Through this implementation,Sierra Leoneis setting out to build one of the most advanced, secure credit bureaus,” he said. “It could serve as a model for both developing and developed nations in the future and has the potential to change the landscape of financial inclusion radically.
To this date, 80% of Sierra Leone citizens have no access to a formal identification system. It is particularly problematic to the people engaged in startups and small businesses who are continually seeking capital to launch or expand services. In the absence of formal identity and credit history, these people cannot access the mainstream financial system. In oneexample, even a prominent businessman was not able to raise 300 million (over $350,o00 USD) for business expansion in Dubai. Reason: he did not have a credit history.
The Sierra Leone government, in its earlier efforts, have launched a Credit Reference Bureau, but that alone could not contribute to the financial inclusion of people with absolutely zero credit history. A blockchain-based ID system from Kiva could, therefore, improve things on the ground by granting underbanked and unbanked people with a digital identity of their own.
“With this partnership inSierra Leone, we hope to carve a path to a system of global identity and federated credit history,” said Kiva CEONeville Crawley. “This can unlock capital for the populations who need it most, allowing lenders to massively increase services and the flow of funds to the world’s unbanked.”
Featured image from Shutterstock.
The postSierra Leone, United Nations to Develop Blockchain Digital ID Systemappeared first onCCN. || 1 Reason the Marijuana Boom May Not Be a Bubble: It's high times for the marijuana industry. Cannabis stocks have surged recently, flying higher starting Aug. 15, when Constellation Brands (NYSE: STZ) said it would invest $4 billion in Canadian marijuana grower Canopy Growth Corporation (NYSE: CGC) . The move signaled that more such tie-ups could come, and as the chart below shows, cannabis stocks have been off to the races since then. MJ Chart Data by YCharts . Four of the five biggest marijuana stocks, including Canopy, Aurora Cannabis (NASDAQOTH: ACBFF) , and Aphria (NASDAQOTH: APHQF) , have all more than doubled, while shares of Tilray (NASDAQ: TLRY) have absolutely skyrocketed. Tilray's gains have come in part because of its unusually low float and heavy short interest -- and because the pot stock was the first to list directly on an American exchange when it had its IPO in July. The sudden gains in Tilray and other cannabis stocks have caused some commentators to deem the marijuana sector a bubble. In fact, two of my colleagues have argued just that here and here . There's no doubt that the sudden rise and euphoria over marijuana stocks is reminiscent of past bubbles, like the one in cryptocurrencies last year. After all, marijuana valuations have become divorced from any trailing fundamentals as the sector is essentially being valued like an early-stage biotech, though that's likely to change once the recreational market in Canada opens on Oct. 17. Whether or not marijuana stocks turn out to be a bubble depends on a number of factors, including if and when it becomes legal in the U.S., how it is embraced by the medical community, and if the industry consolidates. However, there's one big signal that's just emerged that indicates the marijuana boom may be sustainable. That is the attention and investment of consumer products giants. Jars of marijuana flower with one tipped over. Image source: Getty Images. A little history Constellation Brands, which manufactures and markets beer, wine, and spirits, and is best known in the U.S. as the distributor of Corona, became the first major consumer-goods company to make a deal with a marijuana producer when it took a minority stake for about $200 million in Canopy Growth a year ago. At the time, Constellation said the two companies would exchange knowledge and expertise, and the company expressed interest in eventually making cannabis-based beverages. In a clear signal that Constellation liked what it saw, the Corona-maker took a 38% stake in Canopy in August, investing $4 billion into the pot grower. Constellation CEO Rob Sands explained the move, saying: Story continues Over the past year, we've come to better understand the cannabis market, the tremendous growth opportunity it presents, and Canopy's market-leading capabilities in this space. We look forward to supporting Canopy as they extend their recognized global leadership position in the medical and recreational cannabis space. In Constellation's recent earnings call, Sands further outlined the company's strategy with Canopy, saying he saw a market of hundreds of billions of dollars evolving over the next decade and that Canopy gave the company a single platform to tackle all global markets and formats. Constellation isn't the only brewer to target marijuana. On Aug. 1, Molson Coors (NYSE: TAP) announced a joint venture between Molson Coors Canada and Canadian cannabis grower HEXO Corp. (NASDAQOTH: HYYDF) to "pursue opportunities to develop non-alcoholic, cannabis-infused beverages for the Canadian market following legalization." Molson Coors Canada will have a 57.5% share of the joint venture, and CEO Frederic Landtmeters said of the deal: While we remain a beer business at our core, we are excited to create a separate new venture with a trusted partner that will be a market leader in offering Canadian consumers new experiences with quality, reliable and consistent non-alcoholic, cannabis-infused beverages. While there have yet to be any other tie-ups between global consumer product makers and marijuana growers, a number of big-brand companies have discussed teaming up with pot suppliers. In September, Coca-Cola (NYSE: KO) held talks with Aurora Cannabis, according to Bloomberg , and although the company didn't acknowledge any discussion, it did express interest in cannabis-based beverages. In a statement, the soda giant said, "We are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world." Diageo (NYSE: DEO) , the global alcohol giant that owns Guinness beer and Smirnoff vodka, has held discussions with at least three marijuana growers, though it has yet to make a deal, and Heineken 's (NASDAQOTH: HEINY) Lagunitas brand launched a THC-infused beverage back in June, which is currently available in California dispensaries. It's not just beverage companies that are getting into the mix. Tobacco giant Altria (NYSE: MO) was said to be in talks to acquire a stake in Aphria, according to Canada's Globe and Mail , and there are good reasons to believe that other tobacco companies could follow suit. Even Walmart 's Canadian division said it was exploring selling cannabis products. Why it matters Bubbles tend to be caused, above all, by speculators. The asset in consideration gains momentum as investors are attracted to an opportunity, but eventually, the valuation escapes underlying fundamentals due to speculators pushing up the price under the assumption that a buyer will always come along. For instance, day traders helped fuel the dot-com bubble; home flippers contributed to the housing bubble a decade ago; and the rise of Bitcoin and other cryptocurrencies just last year attracted plenty of speculators who spotted the sudden rise of the new asset. While there are certainly some speculators and short-term-minded investors trading marijuana stocks, global companies like Constellation Brands, Molson Coors, and Coca-Cola are clearly not among them. They're investing in marijuana companies, or at least considering it, because they see a long-term opportunity in that market, and as more pot growers find a dance partner from big beer, soda, or tobacco, the likelihood of a "bubble" bursting is significantly diminished. Billion-dollar investments from Constellation and others give the industry credibility, access to cash for expansion, marketing and distribution acumen, and other advantages that make their long-term success more likely. And clearly there's a real opportunity, here. Canadian legalization is expected to generate $5 billion to $7 billion in revenue over the coming year, and the opportunity should only grow from there. Valuations are certainly steep, but the companies who know best are willing to pay up for them. That should offer some assurance to marijuana investors who may be worried that their shares will eventually go up in smoke. More From The Motley Fool The Best Marijuana Stocks to Buy in 2018 Marijuana Stocks Are Overhyped: 10 Better Buys for You Now Your 2018 Guide to Investing in Marijuana Stocks Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool owns shares of Molson Coors Brewing. The Motley Fool recommends Diageo. The Motley Fool has a disclosure policy . View comments
[Random Sample of Social Media Buzz (last 60 days)]
BTC最新価格 : 703,862.00 円( 2018-07-13 13:25:50 )
#最新価格 #BTC #ビットコイン #Bitcoin || 最も安くBTC/JPYを買えるのは？(2018-10-30 07:00:04 現在)
Zaif 689050.00
bitFlyer 701114.00
coincheck 701642.00
bitbank 701945.00
Liquid 702011.15 || HOY a las 22:00 España - 15:00 Cd. de México Mina BTC, acumula BCH y alcanza la LIBERTAD #ModoVagabundo
¿Qué es lo atractivo del Bitcoin?
¿Por qué un empresario tradicional tiene que empezar... https://www.facebook.com/story.php?story_fbid=10218570543434341&id=1219067925 … || 09-07 17:00(GMT)
#SPINDLE price
$SPD (BTC)
Yobit :0.00000026
HitBTC :0.00000026
LiveCoin:0.00000026
$SPD (JPY)
Yobit :0.19
HitBTC :0.19
LiveCoin:0.19 || 2018/10/06 17:00
BTC 748098円
ETH 25748.4円
ETC 1242.7円
BCH 58808.1円
XRP 58.5円
XEM 11.8円
LSK 369.4円
MONA 145.1円
#仮想通貨 #ビットコイン #Bitcoin #bitFlyer #Coincheck || 顧客保護意識の希薄さ、不透明な台帳、ハイレバBTCFX、BTC基軸、嫌なら他行け、時計販売etc...
前から言ってるけど仮想通貨未来や価値を一番毀損してるのが取引所
みんなからの反論はいらないけど、取引所からの反論は大歓迎です。 || #Doviz
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#USD : 6.4503
#EUR : 7.4774
#GBP : 8.3587
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#BTC
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#Gobaba : 41165.27
#BtcTurk : 41340.00
#Koinim : 42469.99
#Paribu : 41171.00
#Koineks : 41600.00 || Read the post to get BTC Bonus: 9-30 | List of accounts in violation of the Pivot Rules https://www.pivot.one/share/post/5bb20a3702b8753c6d53ac56?uid=5ba939e36c20cd48fd5bc49a&invite_code=RVLDNY …pic.twitter.com/OWGcWiIlDF || [00:00] Most mentioned tickers in the last 4 hours: $BTC $XRP $ETH $PCL $RVN $CAT $TRX $MFT $BAT $VETpic.twitter.com/Mi0xxpLfZL || Bitcoin (-0.07): $6,571.47
Ethereum (0.07): $223.04
XRP (0.11): $0.51
Bitcoin Cash (-0.03): $511.61
EOS (-0.04): $5.72
Stellar (0.48): $0.24
Litecoin (-0.27): $57.76
Tether (-0.05): $1.00
Cardano (0.11): $0.08
Monero (-0.06): $113.93
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Trend: no change || Prices: 6377.78, 6388.44, 6361.26, 6376.13, 6419.66, 6461.01, 6530.14, 6453.72, 6385.62, 6409.22
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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.
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[Technical Analysis for 2016-01-11]
BTC Price: 448.43, BTC RSI: 58.12
Gold Price: 1096.50, Gold RSI: 56.60
Oil Price: 31.41, Oil RSI: 28.11
[Random Sample of News (last 60 days)]
One statistic perfectly encapsulates the impact of technology on Wall Street jobs: empty trading floor ( MARK RALSTON/AFP/Getty) In 2000, Goldman Sachs had 600 traders in New York City making markets in US stocks. Today, that number is down to fewer than 10. The statistic is one of several nuggets from a Credit Suisse report on how the bank uses technology, following a conversation with chief information officer Marty Chavez . The analysts estimate that Goldman spends $2.5 billion to $3.2 billion on technology each year, or about 7% to 9% of revenue. This has big implications for the bank's staff. In some ways, technology can make their lives easier. Last month, the bank announced an initiative designed to make the lives of junior investment bankers easier — by letting technology do more of the grunt work for them. But technology might also soon replace more workers. The note said (emphasis added): Embrace Disruption—management of Goldman is very much of the belief—and we can't argue with this—that there will be far more value ascribed to those who embrace new, albeit disruptive, technologies. This disruption can be people "destructive" at times, but it can be far more destructive to be left behind in a business poised for profound change . Importantly, these changes may be disruptive, but also both relationship and profit margin enhancing, through delivery of a better product to Goldman's clients. There are ways for Goldman to be more efficient with its tech spending. About 30% of the annual expense goes to maintenance, which covers things like communications, market-data expenses, and software licensing. The bank wants to get that down to 10%, which is more comparable with software companies. That would free up $600 million to $800 million, which could either go back to the bottom line, or be reinvested strategically, Credit Suisse estimates. These strategic investments could include things like investing in blockchain technology that underpins the use of bitcoin, with the Credit Suisse analysts noting that Goldman Sachs is "very interested in the use of Blockchain/distributed ledger technology." Story continues Other investments include Symphony, the instant-communications platform out to displace Bloomberg's terminal, and Goldman's Marquee app, which delivers data and analytics to staff and is being rolled out to clients. NOW WATCH: 'The Art Of War' holds the keys to success on Wall Street More From Business Insider GOLDMAN: 'Bitcoin was just the opening act, with the Blockchain ready to take centre stage' There are 2 clear winners on Wall Street — and they're pulling away from the competition Morgan Stanley has some answering to do || SEC Targets Connecticut Bitcoin Companies: The Securities and Exchange Commission on Tuesday charged two Connecticut-based Bitcoin mining companies and their founder with running a Ponzi scheme that defrauds investors.
Homero Joshua Garza allegedly committed the fraud through two companies, one called GAW Miners and the other ZenMiner, by purporting to offer shares of a digital Bitcoin mining operation, according to the SEC’s complaint filed in federal court in Connecticut.
The complaint describes “mining” for Bitcoin or other virtual currencies as applying computer power “to try to solve complex equations that verify a group of transactions in that virtual currency.” The first computer or collection of computers to solve an equation is awarded new units of that virtual currency.
Garza allegedly lied to investors about his companies’ ability to mine for Bitcoin. In a statement, the SEC said GAW Miners and ZenMiner in fact didn’t own enough computing power for the mining they promised to conduct, “so most investors paid for a share of computing power that never existed.”
In classic Ponzi scheme form, returns paid to some investors came from proceeds generated from sales to other investors, according to the SEC.
“As alleged in our complaint, Garza and his companies cloaked their scheme in technological sophistication and jargon, but the fraud was simple at its core: they sold what they did not own, misrepresented what they were selling, and robbed one investor to pay another,” said Paul G. Levenson, director of the SEC’s Boston Regional Office.
The SEC’s complaint charges that from August 2014 to December 2014, Garza and his companies sold $20 million worth of purported shares in a digital mining contract they called a Hashlet.
Investors were misled to believe they would share in returns earned by the Bitcoin mining activities when in reality Garza’s companies “directed little or no computing power toward any mining activity,” according to the SEC.
Garza and his companies allegedly sold far more computing power than they actually owned and paid out daily returns collected from other investors rather than from currency derived from “mining” for currencies. Most Hashlet investors never recovered the full amount of their investments, and few made a profit, the SEC said.
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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.
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || Paris Attacks Weigh On Bitcoin: EU officials are set to gather in Brussels in order to discuss the Paris attacks and ways to prevent similar situations from occurring in the future. One of the topics on the table for discussion is expected to be bitcoin and its potential to be used as a finance tool for terrorists. The recent crisis in Paris has shined a spotlight on some of the issues that bitcoin has been facing as it becomes a more and more popular tool to conduct financial transactions on the web. While bitcoin enthusiasts say the cryptocurrency's ability to send payments anonymously without a third party intermediary is an important part of its appeal, others believe that bitcoin could be contributing to terror plots and should be more tightly regulated. Related Link: Lasting Market Impacts From The Paris Attacks Trust Issues Bitcoin has long suffered from trust issues as the cryptocurrency has been portrayed as a tool for criminals after an underground marketplace dealing in illegal and illicit bitcoin transactions was exposed last year. The marketplace, called Silk Road, is what some say is only the beginning of the damage that bitcoin can do. Because making transactions with bitcoin can protect the buyer and seller's identities, criminals are better able to solicit and pay for illegal goods and services online. The same, many believe, is true for terrorists. Bitcoin gives them an avenue to send and receive funds undetected as there is no third party intermediary monitoring and verifying those payments. Regulation Could Break Bitcoin However, on the other side of the coin, bitcoin supporters say that too much regulation would eliminate bitcoin's purpose all together. The electronic currency was meant to operate outside of traditional finance in order to make sending money across boarders faster and easier. They argue that placing strict regulations on bitcoin would disrupt the currency's decentralized nature and undo all of the progress that bitcoin technology has made. Story continues Related Link: Ben Bernanke Sees Serious Problems With Bitcoin What To Do It is unclear how regulators plan to monitor bitcoin transactions and whether or not their efforts would be successful in thwarting terror plots. Bitcoin isn't the only payment scheme that is believed to be involved in terrorist planning operations either; pre-paid debit cards purchased from stores may also be a threat as they similarly don't require any kind of verification to be used for online payments. See more from Benzinga 9 IPOs That Fell Flat On Wall Street 9 Ways To Make Your Retirement Savings Stretch Further 9 Investment Options For Traders Looking To Add Europe To Their Portfolio © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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 || Interest In Bitcoin Mining Returns: While markets around the world suffered significant turbulence this week, bitcoinclimbed6 percent.
The cryptocurrency is well known for its wild swings in valuation, but many say the digital currency is back on a more stable path and could prove a worthwhile investment in the New Year. In 2015, bitcoin fell as low, as $183 as confidence in the cryptocurrency's staying power waned. However, on Thursday, bitcoin was trading at $429, a significant increase.
Mining Returns
With bitcoin on the upswing, bitcoin mining has begun togain popularityonce again, according to Bloomberg.
Related Link:Mike Tyson Dives Deeper Into Bitcoin
When cryptocurrencies were first introduced, miners set up their computers to solve complex problems and be rewarded with the release of new coins. As the value of bitcoin went up, so did the profitability of bitcoin mining. However, last year as bitcoin prices plummeted, the number of miners significantly declined as the cost to buy hardware and pay electric bills to run the machines outweighed the rewards.
Now that bitcoin has made its way higher, mining efforts are increasing – especially among those who bought the necessary hardware last year, but haven't been able to make use of it.
A Risky Business
While mining is gaining popularity once again, many caution that bitcoin's price isn't the only factor that drives profitability for miners. This year, bitcoin's software will reduce the number of coins that miners receive for mining activities by half, something that could have an impact on the time it takes to recoup investment costs.
Not only that, but bitcoin's price is far from stable. In past years, bitcoin's wild swings in value have proven that it is difficult to predict whether the cryptocurrency will be able to continue trading at current levels, making investing in mining equipment a bit of a gamble.
Image Credit: Public Domain
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© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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. Story continues 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.) || Trade Options? Here's How To Get Involved In Bitcoin: By now, Bitcoin needs no introduction. The digital asset has become the most popular cryptocurrency in the world, and people are already getting used to using it and trading it every day.
But, are there other ways to capitalize from the fluctuations of the currency? An innovative way to trade the popular cryptocurrency uses binary options.
The Playbook
Do you think the Bitcoin will continue to surge? Or will it lose value going forward?
Whatever your thoughts on the issue are, binary options might offer an interesting way to play the events with relatively low collateral.
Related Link:Think Energy Has More Downside? Here Are Two Ways To Play It
What Are Binary Options?
Investing via binary options is just that: playing a binary event. “Binary options are limited risk contracts based on a simple yes/no market proposition like will the markets go up by the end of the trading week,” binary options trading site Nadex .
How To Trade Bitcoin With Binary Options
Via binary options, traders can partake in the popular Bitcoin market with “limited risk, short-term contracts in a transparent, regulated marketplace.”
At Nadex, investors can find unique daily and weekly Bitcoin binary option contracts, based off the Tera Bitcoin Price Index.
Below is an example of how to trade Bitcoin using binary options.
A standard Bitcoin Binary Option may look something like: Bitcoin > 440 (3:00PM)
This means that this contact suggests the underlying price of Bitcoin will be above $440 at 3:00 p.m. If you think the answer is yes, buying the binary option might be the way to go. If you think the answer is no, you would sell the contract.
Investors should note that the price at which they would buy or sell the contracts is not the actual price of Bitcoin, but rather a value between zero and 100.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
Image Credit:
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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 || Cable & Wireless Communications and Huawei Have Successfully Tested the First Trial of the Fastest Copper Based Broadband Service With G.fast Across Latin America: MIAMI, FL--(Marketwired - Jan 6, 2016) - Cable & Wireless Communications Plc's (CWC) business unit in Panama, Cable & Wireless Panama SA (CWP) and Huawei , a leading global information and communications technology (ICT) solutions provider, today announced the first successful trial of the fastest copper based broadband service across Latin America using leading G.fast technology. As a market leader in mobile and broadband services in Panama, CWP is also the largest telecom service provider in the country with a market leading brand, superior network coverage and excellent customer service. CWP partnered with Huawei to deploy CWC's first trial of the G.fast technology on its existing copper infrastructure. "We are excited to be partnering with Cable & Wireless Communications and together pioneering the first trial of the fastest copper fixed line broadband service with G.fast across Latin America," said Mr. Stephen Ma, CEO of Huawei for the Caribbean. "G.fast is the right way to extend the existing fixed line infrastructure to the gigabit access era by accelerating a future oriented ultra-broadband solution with unparalleled user experiences," he added. The G.fast technology trial ran for two months in Panama deploying Huawei's latest multi-service access node equipment. CWP's trial successfully achieved high speeds averaging 500 Mbps to download and 150 Mbps to upload, over its existing copper fixed lines. "We are thrilled to announce that Cable & Wireless Panama was the first market across Latin America to have successfully completed testing of the G.fast technology, which can deliver high speeds, to its customers through the fastest copper based fixed line broadband technology across the region reaching speeds of 500 Mbps," said Carlo Alloni, EVP Technology and Group CTIO, Cable & Wireless Communications. "Our strategic partnership with Huawei has strengthened our commitment to consider solutions that deliver high-speeds," added Alloni. G.fast technology is based on the Time Division Multiplexing (TDM) method with an improved algorithm that cancels the noise in the lines, reducing the effects of crosstalk and allowing transmission of higher rates of bits with a better quality, increasing the speeds of the information transmitted. Huawei's G.fast solution can complement the other technologies selected for its HFC (Hybrid fiber-coaxial) and Fibre delivery platforms. CWP's G.fast technology is providing a fivefold increase in speeds compared to any existing internet copper residential service in Panama and empowering the fastest copper fixed line broadband service across Latin America. Story continues About Huawei Huawei is a leading global information and communications technology (ICT) solutions provider. Driven by customer-centric innovation and open partnerships, Huawei has established an end-to-end ICT solutions portfolio that gives customers competitive advantages in telecom and enterprise networks, devices and cloud computing. Its innovative ICT solutions, products and services are used in more than 170 countries and regions, serving over one-third of the world's population. Founded in 1987, Huawei is a private company fully owned by its employees. About G.fast G.fast is a digital subscriber line (DSL) standard for local loops, with performance targets between 150 Mbps and 1 Gbps, depending on loop length. Since the launch of the world's first G.FAST prototype by Huawei in December 2011, G.FAST technology has become highly anticipated by the ICT industry and has maintained strong development momentum. About C&W Communications Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,200 employees serving over 6.3 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 465k and Broadband 680k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: www.cwc.com . About CWP Cable & Wireless Panama (CWP) is the market leader in mobile, broadband and fixed line services in Panama. The Company's mobile business operates under the brand name +Movil and the other businesses under + internet and +TV Digital in Panama. CWP is also a leading regional player in enterprise and managed services as well as being a leader in carrier services in partnership with our Caribbean business. View comments
[Random Sample of Social Media Buzz (last 60 days)]
In the last 10 mins, there were arb opps spanning 22 exchange pair(s), yielding profits ranging between $0.00 and $1,466.30 #bitcoin #btc || $459.00 at 16:00 UTC [24h Range: $451.64 - $466.64 Volume: 11377 BTC] || #UFOCoin #UFO $ 0.000009 (1.23 %) 0.00000002 BTC (-0.00 %) via #UFOCoinBot
#Bitcoin #BTC #AltCoin #BlockChain #BOTpic.twitter.com/enwqs3RyRO || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000006
Bittrex: 0.00000004
Average $2.0E-5 per #reddcoin
04:00:02 || In the last 10 mins, there were arb opps spanning 10 exchange pair(s), yielding profits ranging between $0.00 and $19.24 #bitcoin #btc || In the last 10 mins, there were arb opps spanning 10 exchange pair(s), yielding profits ranging between $0.00 and $358.47 #bitcoin #btc || LIVE: Profit = $233.90 (7.52 %). BUY B8.08 @ $410.00 (#VirCurex). SELL @ $414.13 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || LIVE: Profit = $498.99 (5.90 %). BUY B20.56 @ $420.00 (#VirCurex). SELL @ $436.20 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || In the last 10 mins, there were arb opps spanning 13 exchange pair(s), yielding profits ranging between $0.00 and $776.56 #bitcoin #btc || $332.95 #bitstamp;
$332.93 #bitfinex;
$332.77 #coinbase;
$330.00 #btce;
#bitcoin #btc
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Trend: down || Prices: 435.69, 432.37, 430.31, 364.33, 387.54, 382.30, 387.17, 380.15, 420.23, 410.26
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
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. || IFAN Financial, Inc., Netclearance Systems Begin Commercial Deployment Of Smart Beacon Technology: SAN DIEGO, CA / ACCESSWIRE / April 14, 2016 /IFAN Financial, Inc. - (OTC PINK: IFAN), ("IFAN" or "the Company"), a designer, developer, and distributor of software to enable mobile payments, announced that it has begun commercial deployment of the mBeaconPay and mBeacon2 ("M2") payments technology in collaboration with its strategic partner Netclearance Systems ("Netclearance"). This deployment follows the successful completion of beta testing for these systems.
mBeaconPayis the first mobile OS agnostic cash-based payment terminal for retail, transit, gas and hospitality. The mBeaconPay supports all wireless proximity technologies such as BLE, NFC, QR and Wi-Fi in a single unit and integrates seamlessly with all point of sale system. mBeaconPay was recently nominated for Best Cash Innovation Award by PYMNTS.com, one of the leading publications in the payments and commerce industry.
ThemBeacon2is a dual transmitter beacon that engages Wi-Fi and Bluetooth LE devices in proximity. mBeacon2 is ideal for engagement applications and also can be deployed in presence applications. The mBeacon2 transmits a Wi-Fi and BLE signal simultaneously that can trigger events and engage mobile clients regardless of smartphone operating system
J. Christopher Mizer, President and CEO of IFAN Financial commented, "Our mBeaconPay and M2 represent one of the most versatile technologies in our industry. This technology is suitable for small to large scale retail operations, basically any business-to-consumer entity where the company take payments from the customer using any global currency, including Bitcoin and other virtual currencies. It integrates seamlessly with our PayX platform, offering flexible form factors, including white label and flexible power options, and is plug and play with point-of-sale terminals, while supporting multiple enterprise applications.
"mBeaconPay and M2 provide loud connectivity via Wi-Fi, Ethernet or Mesh, and have configurable power transmission and receive sensitivity. We have engineered extended battery-life into our battery powered models, lasting over 5 years without a charge, and all enjoy integrated enterprise security (AES, SHA, ECC)."
Mizer added, "The future is cashless, and we already see this in several of the smaller economies in Europe. There are over 35,000 beacon deployments in Denmark and Norway, with $28 billion in transactions processed. Combined the GDP of both nations is $847 billion, about half of which is consumer spending. This means that beacons are already handling about 5% of consumer spending there already. We look forward to demonstrating the versatility of our platform as we announce further commercial contracts that will utilize the mBeaconPay and M2 technology."
About IFAN Financial, Inc.
along with its wholly owned subsidiaries and joint ventures, design, develop, and distribute technology to enable and enhance mobile and traditional payments. The IFAN Platform consists of proximity based beacons, merchant processing, a mobile wallet, and prepaid card and debit card options. IFAN's consumer facing entity, PayX, includes a portfolio of payment solutions through the mobile optimized platform capable of facilitating on-demand payments, auto-payments, split-funded payments, proximity marketing, and spending of platform funds through a linked card. IFAN and PayX provide businesses with the world's first white label, mobile optimized platform that connects to any point of sale system and enables the next generation of marketing and payments with the capability to remit internationally. For more information, visitwww.ifanfinancial.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Although 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, including but not limited to our ability to maintain our website and associated computer systems, our ability to generate sufficient market acceptance for our products and services, our ability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission from time to time which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one of 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:
IFAN Financial, Inc.Steve SchollChief Financial Officer3517 Camino del Rio SouthSuite 407San Diego, CA 92108Direct: 858-277-9868FAX: [email protected]
SOURCE:IFAN Financial, Inc. || Blockchain won’t kill banks: Bitcoin pioneer: Blockchain – the technology that underpins the cryptocurrency bitcoin – is unlikely to kill banks despite warnings from top industry executives, the chair of a bitcoin non-profit organization told CNBC on Monday.
Last week, Andrey Sharov, a vice president at Russia's Sberbank, said banks would disappear by 2026 due to the rising use of blockchain technology.
"In 10 years, there will be no banks, I'm afraid," according to a translation of Sharov's comments by the Coinfox bitcoin news website.
But Brock Pierce, the chairman of the Bitcoin Foundation, said that while the adoption of blockchain will hit parts of a bank, it will ultimately create opportunity.
"There are certain aspects of their business that are going to be negatively impacted, but there are also going to be other business units that are going to be positively impacted and new business units that get created that might not even exist today," Pierce told CNBC in an interview on Monday.
"And the parts of the industry that are being most negatively impacted are the ones where the bank is not providing much in the way of value, where they are being a toll taker but not really a value creator."
Blockchain is the technology that underlies the cryptocurrency bitcoin. It works like a huge, decentralized ledger for bitcoin which records every transaction and stores this information on a global network so it cannot be tampered with.Banks feel blockchain technologycan be utilized in areas from remittances to securities exchanges to bring about efficiency.
The Bitcoin Foundation positions itself as an organization that is helping to advance the use of the cryptocurrency "through advocacy, education and support of adoption and core development", according to its website. While there is no centralized authority for bitcoin, the organization is trying to create common standards for its use.
Pierce has a varied history. He was a child film star who appeared in Disney's "The Mighty Ducks" film in the early 1990s. He has previously run internet companies and is a partner in Blockchain Capital, a venture capital firm that invests in companies in the space.
A number of major financial institutions have been speaking publically about blockchain and touting its potential. A firm called R3 has brought together a group of the world's biggest banks including JPMorgan and Citigroup and is dedicated to researching and delivering new financial technology. Another company called Digital Asset Holdings, founded by an ex-top JPMorgan executive, partnered with JPMorgan earlier this year to explore blockchain technology.
Speaking at the Money 2020 conference in Copenhagen last week, Digital Asset Holdings chief executive Blythe Masters, said blockchain technology will be "deployed in a commercial setting in less than a couple of years," butwidespread adoption would take longer, a point Pierce echoed.
"I think banks are going to take a while to integrate this … it's going to take them years of testing before they start to commercialize aspects of the technology … it's more likely to have an impact in other industries in the short term which are less-regulated and where the stakes are lower," Pierce told CNBC.
Pierce also explained that there would be "dozens of different versions of blockchains" deployed for different use cases.
The Bitcoin Foundation has had a checkered history. In December, Pierce declared in meeting minutes that the organization was "close to running out of money."
And bitcoin itself has had a bad reputation. The cryptocurrency is often linked to allowing people to purchase illegal items anonymously, while one of the world's largest bitcoin exchanges,Mt. Gox, collapsed in 2014.
While not referring to these specific incidents, Pierce did admit that bitcoin's reputation has suffered some bad publicity, and why the banks are focusing on the underlying technology of blockchain.
"Bitcoin's got a major PR (public relations) problem and that's why you hear major banks saying bitcoin bad, blockchain good," Pierce said.
"Emerging technologies and the earliest adopters often produce these types of messages. And bitcoin as the pioneer takes the arrows in the back…which is probably not warranted."
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• Personal Finance || Earningspalooza: 6 trades to make right now: Several companies reported disappointing earnings after the bell Thursday. The "Fast Money" traders debated the names they would buy or sell on the news.
Trader Brian Kelly said that Starbucks(NASDAQ: SBUX), which posted a miss on same-store sales, isn't exactly his favorite name, but he has a lot of respect for its CEO.
"I would never, ever, ever bet againstHoward Schultz. The guy's amazing. Look at what he's done with the company," Kelly said.
"But what I would bet against in this space, based on this news, is Dunkin' Brands(NASDAQ: DNKN), because it seems to me if you can translate that weak economy to the other places, Dunkin' Brands hasn't executed," Kelly said.
Guy Adami also isn't convinced on Starbucks, though he said it's been a good stock to buy on dips.
"Yes, the comps are concerning, but again on every pullback, the stock's been a buying opportunity. My sense is that this one is as well," he said.
Another stock that did not perform well after hours Thursday was Visa(NYSE: V), after the company amended the terms of its deal so that it would be required to pay, roughly, an additional $1.98 billion.
Adami noted Visa is trading at close to 26 times forward earnings, which makes it expensive enough that anything less than stellar reports "get the stock whacked."
While many of these stocks rallied ahead of earnings, Amazon(NASDAQ: AMZN)is dipping before it reports April 28. Adami thinks it's time to take money off the table with the online retail giant. Trader Karen Finerman agreed and thinks that in general the FANG stocks (Facebook, Amazon, Netflix and Google), will also begin to show signs of weakness the way Google(NASDAQ: GOOGL)-owner Alphabet did on Thursday.
Disclosures:
Guy Adami
Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
Karen Finerman
Karen is long BAC, C, FB, FL, GOOG, GOOGL, JPM, LYV, KORS, M, SEDG, SPY puts, URI. Her firm is long ANTM, AAPL, BAC, BOKF, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, NRF, PLCE, SPY puts, URI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International.
Brian Kelly
Brian Kelly is long BBRY, Bitcoin, GLD, SLV, TLT, US Dollar, UUP; he is short Aussie Dollar, BLK, CS, DB, Euro, EWA, EWH, FRC, Hong Kong Dollar, UBS, Yuan, 5-Year Note Futures
Dan Nathan
Dan is long XLF may/ sept put spread. Dan is long AAPL April Put Fly, long PFE, long TWTR, long GE May 28 puts, long JPM April puts, long INTC April puts , long QCOM April put spreads, long HYG June puts, long IWM May and September puts, long XHB June put spread, long XLE April/June put spread. QCOM long May put spread. FXI Long Aug Puts, SMH Long Aug puts
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• Personal Finance || The Crisis in Bitcoin and the Rise of Blockchain: Remember the hype over bitcoin? The crypto-currency that so tantalized techies and excited investors is today in a sorry state: Its core supporters are at war with each other and ordinary consumers still don’t care about this supposedly revolutionary form of money. But that’s only half of the story. The other half is about the remarkable rise of blockchain, the core technology underlying bitcoin that is enjoying unprecedented adoption by banks and big business. This development--the fall of bitcoin and the rise of blockchain--has accelerated in recent months, and it has big implications for those who have sunk hundreds of millions of dollars into these technologies. Here’s the latest on the story of bitcoin, which has turned out far differently than many imagined. How We Got Here Flash back five years, the bitcoin scene was an exciting place to be. A motley mix of coders, libertarians, and get-rich-quick hucksters latched onto the promise of bitcoin founder Satoshi Nakamoto’s new distributed, tamper-proof money system and ledger run from millions of computers. The ledger provided an indelible record of near-anonymous financial transactions in offering a global payment platform to ordinary merchants, drug dealers, and everyone in between. The early bitcoin buzz soon exploded, and the currency’s value briefly soared to $1,200 . The mainstream news media caught onto the story while venture capitalists lined up to fund any business with “bit” in its name. Meanwhile, businesses from Virgin Galactic to the NBA’s Sacramento Kings realized they could get a heap of free press just by announcing they would accept bitcoin. The currency never caught on, however. Despite all the startups offering wallets and other tools to popularize the payment technology, average consumers never took to bitcoin--even as they did adopt another person-to-person mobile payment platform, known as Venmo , in droves. So what happened? One problem is that bitcoin never shook its sordid side. While there is nothing intrinsically evil about bitcoin, its most famous adopters have always been a rogue’s gallery of fraudsters, prostitutes, dark web drug lords , and Ponzi schemers . Even some members of bitcoin’s governing foundation, who sought to make the currency respectable, are on the lam or in jail . Story continues This rogue reputation certainly didn’t help bitcoin. But it wasn’t the crypto-currency’s biggest problem. Instead, the main reason bitcoin didn’t catch on is because it’s just not practical. Even if you can find merchants who accept it, the process involves exotic apps, currency transactions, and a verification process that takes minutes to get the okay. Compare that to swiping a credit card, and you see the problem. In recent months, bitcoin’s adoption problem has suddenly worsened. Meanwhile, big banks are finding they can use bitcoin’s best feature and leave the currency itself behind. Get Data Sheet , Fortune 's technology newsletter. The Current Crisis and the Rise of Blockchain “Bitcoin’s nightmare scenario has come to pass,” read a headline this week from tech site, The Verge. That’s a pretty fair way to describe a recent schism within the bitcoin developer community--the collection of gnomes who decide on the protocols and computer code under the hood. The Verge report offers a good run-down of the technical specifics but, for present purposes, they can be summed up like this: the bitcoin community failed to agree on a system upgrade, which means the ledger’s infrastructure faces a growing backlog, and it now takes over 40 minutes to confirm a transaction. As a result, bitcoin is less practical than ever and merchants (the few who accepted it in the first place) are bolting. This schism deals a further blow to bitcoin’s hopes of ever becoming a mainstream currency. This is a setback for the bitcoin community, but here’s the kicker: it doesn’t really matter. That’s because the true value of bitcoin is not the currency itself. Instead, it’s the blockchain technology underneath it. Banks and other big businesses have already reaped the benefit of this technology. As Fortune reported in December, IBM , Intel , JP Morgan , and several other big banks are betting on the blockchain’s ledger system. As with bitcoin, the system requires a set of diffuse computers to prove that a transaction has occurred. Once a confirmation occurs, it’s recorded in a common ledger and cannot be reversed. Why is this such a big deal? It has to do with record keeping. The idea of a tamper-proof ledger created by computers is so significant because it could let a number of industries--especially banking, brokerages, and law firms--overhaul the way they do business. Instead of relying on slow and cumbersome settlement systems to notarize and record documents, they can let a blockchain do it for them. “The clearing and settlement will be done in a matter of seconds. An efficiency comes with this that is a pretty significant force multiplier,” explains Jeff Garzick, a former bitcoin developer who recently launched a consultancy called Bloq that advises banks and others how to deploy blockchain technology. Garzick and his partner Matt Rosack expect the financial industry will begin using the blockchain for stock and loan settlements as soon as the end of this year. Likewise, they think banks’ transactions at the discount window of the Federal Reserve will soon be recorded on a blockchain. And that’s just the beginning. Garzick and Rosack say the Big Four auditing firms will soon have a blockchain-based transaction feed that will be visible to regulators, who have been studying the potential of blockchain technology for years. The Future: Blockchain Without Bitcoin Even for those familiar with crypto-currency, it can be hard to get one’s head around just how the blockchain can operate without bitcoin. The reason is that bitcoin supplies the financial incentive for people around the world, known as miners, to operate the ledger in the first place. For more about bitcoin, watch our video : In return for devoting their computers to running the blockchain (which publishes the ledger), they receive a reward in the form of a bitcoin that can be spent online or exchanged for traditional currency. In the absence of such an incentive, how do the banks plan to develop the blockchain? The answer is they are building their own version of blockchain and running it themselves. As Garzick explains, this process involves taking the core protocol underlying bitcoin and then stripping off all the “mining” and compensation functions. He says the miners are an interesting way to creating a ledger, but they are not essential in the case of a “private chain,” like the one the banks are developing. “The mining is a really elegant software solution that equally distributes who is going to validate the next set of bitcoin transactions,” Garzick says. “ A private chain replaces the entire trust-less aspect with a more private closed network of participants.” In practice, this will involve the banks rejecting a global federation of miners in favor of a handful of trusted verification partners within their own network--a process already underway . For instance, a group of 15 banks might agree that the ledger becomes official once computers from seven group members agree to record a set of transactions. So what happens to bitcoin in this scenario? As The Economist noted in a recent feature , it may become no more than a novelty or a historical curiosity. If this is the case, the venture capitalists who made big bets on consumer bitcoin startups like Coinbase and Xapo could see a pool of wealth vanish. Ditto the U.S. government, which has seized a large pile of bitcoins in high-profile drug investigations. For now, that worst case scenario for bitcoin hasn’t come to pass yet. Despite the recent convulsions in the developer community, its price has held fairly steady around $400 for months. It may find niche roles as a currency, such as for foreign remittances. Meanwhile, bitcoin still has defenders such as Jeremy Allaire, a successful entrepreneur who raised over $60 million for his startup, Circle, a money transfer service for consumers using bitcoin behind the scenes. Allaire says there is still time for bitcoin to break through in place of services like Venmo. “Venmo is another AOL--I don't want another walled garden. I want the Google of money,” Allaire said in a recent interview. “We've gone from a world where everyone is in denial about the tech and its usefulness. Now traditional financial institutes say, ‘We love the technology but we want to control it with our own private technology.’ That's not practical.” Other defenders include my former colleague at Fortune , Dan Roberts, who said the bull case outstrips the bear case for bitcoin in 2016. Still, based on recent developments, a bitcoin resurgence looks like a long shot. When the final history of bitcoin is written, the currency itself is likely to be just a colorful footnote in the tale of the emergence of a powerful new blockchain technology. See original article on Fortune.com More from Fortune.com This Could Kill the World's Most Popular Cryptocurrency Securing the City of the Future with Bitcoin Global Regulators Now Eyeing Fintech Through Machine Learning, IBM Braintrust Sees Better Days Ahead Here's Why Europe Is About to Crack Down on Bitcoin Anonymity || Newspaper giants threaten Brave over its ad-swapping browser: You remember how Brave's web browser pays you to see replacement ads (overriding a site's usual ads) when you don't pay to block promos outright? Yeah, publishers aren't very happy about that. A coalition of 17 news giants, including the New York Times and Dow Jones, has sent Brave a letter claiming that its ad-swapping business model is illegal. Allegedly, the approach is tantamount to copyright infringement. It's "indistinguishable" from stealing articles and posting them on another site, according to the publishers. The group also doesn't buy the argument that Bitcoin payments and revenue sharing will make up for the lack of native ads -- those methods "cannot begin to compensate" for the lost income. Not surprisingly, Brave isn't having any of it. CEO Brendan Eich says the browser isn't replacing publishers' own ads, including any first-party ads that aren't using third-party tracking. It's trying to create a better ad network that actually pays more than third-party options, he argues. Eich goes so far as to suggest that the publishers are being disingenuous (especially when sidestepping their own ad privacy concerns), and are really attacking any browser with an ad blocker add-on or ad-free reading mode . Brave says it's open to talking with the media group to argue its case, although it's hard to see those companies being very receptive when they not-so-subtly hint at possible legal action. Not that Brave is slowing down in the meantime. It just released a developer version of its browser with support for Chrome extensions, 1Password logins and blocks against everything from phishing scams to privacy-violating browser fingerprinting measures. In short, it's determined to fight privacy intrusions of all kinds, whether or not the perpetrators are in a position to object. || 'BLATANTLY ILLEGAL': 17 newspapers slam ex-Mozilla CEO's new ad-blocking browser: brendan eich ceo mozilla brave (Brave) Brendan Eich, CEO of Brave. A group of the biggest US newspaper publishers — including Dow Jones, The Washington Post, and The New York Times Co. — have cosigned what they are calling a "cease and desist" letter (read it in full below) sent to the former Mozilla CEO's new browser company. Brendan Eich's new browser, Brave, announced its launch early this year . The browser — available on iOS, Android, OS X, Windows, and Linux — has ad-blocking software baked into it, which blocks all ads by default and replaces them with its own ads that it says load quicker and "protect data sovereignty [and] anonymity" of users by blocking tracking pixels and cookies. With Brave, publishers get around 55% of revenues: 15% go to Brave, 15% go to the partner that serves the ads, and 10% to 15% goes back to the user, who can choose to make bitcoin donations to their favorite publishers in order to get an ad-free experience on their websites, Eich told Business Insider in January . 'Blatantly illegal' But the 17 newspaper-publishing companies that cosigned the letter sent to Eich on Thursday say that this business model is "blatantly illegal" because they claim Brave is profiting from the "$5 billion" a year the industry spends on funding journalism. The publishers argue that Brave's advertising-replacement plan would constitute copyright infringement, a violation of the publishers' terms of use, unfair competition, unauthorized access to their sites, and a breach of contract. The letter compares Brave's business model to a company simply stealing their articles and pasting them on their own websites for profit. Eich provided a lengthy statement in response to the letter (which you can read in full below.) In it, he said: "The NAA sent a letter to Brave Software that is filled with false assertions. The NAA has fundamentally misunderstood Brave. Brave is the solution, not the enemy." Seeking damages of up to $150,000 per work Not only do the publishers "expressly decline to participate in any way in Brave's supposed business model," but they threaten that they are "ready to enforce all legal rights" to protect their trademarks and copyrighted content. Story continues The publishers, all of which are members of the Newspaper Association of America and together represent more than 1,200 newspapers in the US, threaten that they will seek damages of up to "$150,000 per work" that Brave monetizes. This isn't the first time Brave has drawn ire from the media and advertising community. In January, the CEO of the Interactive Advertising Bureau, Randall Rothenberg, ripped into Brave and other ad blockers in a speech at the US internet-advertising trade body's annual leadership conference. Of Brave, he said : The latest ad-blocking company is a Web browser startup called “Brave.” It was launched by former Mozilla CEO Brendan Eich, whose last major investment was in banning gay marriage in California. His business model not only strips advertisements from publishers’ pages — it replaces them with his own for-profit ads. THIS is the true face of ad blocking. It is the rich and self-righteous, who want to tell everyone else what they can and cannot read and watch and hear — self-proclaimed libertarians whose liberty involves denying freedom to everyone else. The ad-block profiteers are building for-profit companies whose business models are premised on impeding the movement of commercial, political, and public-service communication between and among producers and consumers. They offer to lift their toll gates for those wealthy enough to pay them off, or who submit to their demands that they constrict their freedom of speech to fit the shackles of their revenue schemes. They may attempt to dignify their practices with such politically correct phrases as “reasonable advertising,” “responsible advertising,” and “acceptable ads”; and they can claim as loudly as they want that they seek “constructive rapport” with other stakeholders. But in fact, they are engaged in the techniques of The Big Lie, declaring themselves the friends of those whose livelihoods they would destroy, and allies to those whose freedoms they would subvert. A Medianomics survey of 42 "high traffic" websites in the US published earlier this month found that 48% of respondents were "somewhat likely" and 36% were "definitely/very likely" to support taking collective legal action against ad-blocking companies. Here's the full letter sent to Brave — you can also download it by clicking here . Brave's response is below. Dear Mr. Eich: Brave Software, Inc. (“Brave”), a company you founded, has announced that it intends to launch a browser and mobile applications that will display publishers’ content but replace publishers’ advertising with advertising that Brave sells for its own profit. You are hereby notified that Brave’s plan to replace our clients’ paid advertising content with its own advertising violates the law, and the undersigned publishers intend to fully enforce their rights. Your plan to use our content to sell your advertising is indistinguishable from a plan to steal our content to publish on your own website. Your public statements demonstrate clearly that you intend to harness and exploit the content of all the publishers on the Web to sell your own advertising. “We can provide access to all of the top publishers through a single channel with guaranteed ‘share of voice,’” Brave’s website claims. “This combination of better targeting and first-look access to all of the premium placements our users browse is something that no one else can provide.” There’s a simple reason “no one else” is purporting to “provide” all the content on the Web in one place for its own profit, without investing a penny in creating that content: everyone else has recognized that it would be blatantly illegal for one company to hijack all the content on the Web for its own benefit. We publish some of the most highly valued and widely read sites on the Web. Our sites and mobile applications provide news reporting, photojournalism, video content and feature writing that is researched, reported, edited, and produced at extraordinary cost. Our industry spends more than $5 billion per year on reporting in the United States alone. We distribute that reporting online for free or at highly subsidized rates, in no small part due to revenue from online ads. Your apparent plan to permit your customers to make Bitcoin “donations” to us, and for you to donate to us some unspecified percentage of revenue you receive from the sale of your ads on our sites, cannot begin to compensate us for the loss of our ability to fund our work by displaying our own advertising. We expressly decline to participate in any way in Brave’s supposed business model. We explicitly reject any compensation or consideration Brave plans to offer to us as part of its ad-blocking and ad-replacing scheme, and we refuse to accept any “site wallet” that you propose to create for our supposed benefit. In addition, you are not authorized to use our names, trademarks and logos in any way in connection with the promotion or operation of your business. We stand ready to enforce all legal rights to protect our trademarks and copyrighted content and to prevent you from deceiving consumers and unlawfully appropriating our work in the service of your business. Unauthorized republication of our copyrighted content to support Brave’s illegal advertising model violates protected rights of publishers under the Copyright Act and other laws. We reserve the right to seek all remedies for this infringement, including but not limited to statutory damages of up to $150,000 per work pursuant to 17 U.S.C. § 504. Brave’s use of publishers’ trademarks to sell its own advertising will confuse consumers, infringe upon publishers’ exclusive rights in their brands, and dilute our highly distinctive marks. We believe your planned activities will also constitute unfair competition and misappropriation under relevant federal, state and common law. Brave’s unauthorized activities involving our content and websites also violates our terms of use. By engaging in Brave’s plan of advertising replacement, Brave is liable for breach of contract, unauthorized access to our websites, unfair competition, and other causes of action. Very truly yours, ADVANCE LOCAL Vincent LaSpisa, Esq., Sabin, Bermant & Gould LLP, One World Trade Center, 44th Floor New York, New York 10007-2915 BH MEDIA GROUP Scott Searl, Esq., Senior Vice President and General Counsel, BH Media Group, 1314 Douglas Street, Suite 1500 Omaha, Nebraska 68102 CALKINS MEDIA INCORPORATED Sally A. Buckman, Esq., LermanSenter PLLC, 2001 L Street, N.W., Suite 400 Washington, D.C. 20036 DIGITAL FIRST MEDIA Marshall W. Anstandig, Esq., Senior Vice President and General Counsel, Digital First Media, 4 North 2nd Street, Suite 800 San Jose, California 95113 DOW JONES & COMPANY, INC., Jason P. Conti, Esq., Senior Vice President and Interim General Counsel, Dow Jones & Company, Inc., 1211 Ave of the Americas New York, New York 10036 GANNETT CO., INC., Barbara W. Wall, Esq., Senior Vice President, Chief Legal Officer, Gannett Co., Inc., 7950 Jones Branch Drive McLean, Virginia 22107 GATEHOUSE MEDIA/NEW MEDIA INVESTMENT GROUP, Polly Grunfeld Sack, Esq., Senior Vice President, General Counsel, GateHouse Media, 175 Sully’s Trail, 3rd Floor Pittsford, New York 14534 JOURNAL MEDIA GROUP, Hillary Ebach, Esq., Vice President and General Counsel, Journal Media Group, Inc., 333 W State Street Milwaukee, Wisconsin 53203 LANDMARK MEDIA ENTERPRISES, LLC, Guy R. Friddell, III, Esq., Executive Vice President and General Counsel, Landmark Media Enterprises, LLC, 150 Granby Street Norfolk, VA 23510 LEE ENTERPRISES INCORPORATED, Astrid Garcia, Esq., Lee Enterprises Incorporated, 201 N. Harrison St., Suite 600 Davenport, Iowa 52801 THE MCCLATCHY COMPANY, Juan Cornejo, Esq., Assistant General Counsel, The McClatchy Company, 2100 Q Street Sacramento, California 95816-6899 MORRIS PUBLISHING GROUP, LLC, J. Noel Schweers III, Esq., General Counsel, Morris Publishing Group, LLC, 725 Broad Street Augusta, Georgia 30901 THE NEW YORK TIMES COMPANY, Ken Richieri, Esq., Executive Vice President and General Counsel The New York Times Company, New York, New York 10018 NEWSDAY, LLC, Karen Au Claro, Esq., Senior Vice President, Law, Newsday, LLC, 235 Pinelawn Road Melville, New York 11747  SCHURZ COMMUNICATIONS, INC., John Smarrella, Esq., Barnes & Thornburg, LLP, 100 North Michigan Street South Bend, Indiana 46601-1632 TRIBUNE PUBLISHING COMPANY, Karen Flax, Esq., Vice President and Deputy General Counsel, Tribune Publishing Company, 435 North Michigan Avenue Chicago, Illinois 60611 THE WASHINGTON POST, Jay Kennedy, Esq., Vice President and General Counsel, The Washington Post, 1301 K Street, NW Washington, D.C. 20071 Here is Brave's full response: The NAA sent a letter to Brave Software that is filled with false assertions. The NAA has fundamentally misunderstood Brave. Brave is the solution, not the enemy. The NAA's letter to Brave Software asserts that any browser that blocks and replaces ads on the browser user's device performs "unauthorized republication" of Web content. This is false on its face, since browsers do not "republish", serve, syndicate, or distribute content across the Internet or to any computer other than the one on which they run. Browsers are the end-point for secure connections, the user agent that actually mediates and combines all the pieces of content, including third-party ads and first-party publisher news stories. Browsers can block, rearrange, mash-up and otherwise make use of any content from any source. If it were the case that Brave's browsers perform "republication", then so too does Safari's Reader mode, and the same goes for any ad-blocker-equipped browser, or the Links text-only browser, or screen readers for the visually impaired. The NAA letter also falsely asserts that Brave will share an "unspecified percentage of revenue", when our revenue share pie chart has been public and fixed from our first preview release in January . We give the lion's share (pun intended), up to 70% of ad revenue, to websites, keeping only 15% for ourselves and paying 15% to our users. We sympathize with publishers concerned about the damage that pure ad blockers do to their ability to pay their bills via advertising revenue. However, this problem long pre-dates Brave. We categorically reject the claim that browsers perform "republication", and we repeat that Brave has a sound and systematic plan to financially reward publishers. We aim to outperform the invasive third-party ads that we block, with our better, fewer, and privacy-preserving ads. Finally, we note that malvertisement has gotten onto the websites of the New York Times and the BBC recently through the ill-designed, unregulated, and poorly-delegated third-party advertising technology ecosystem. Truly, this tracker-based ad-tech ecosystem is what is damaging the brand value of content publishers and driving users to adopt ad-blocking software. Brave blocks and replaces only third-party ads and trackers. Our system thus actually repairs the damage that publishers have carelessly allowed their ad partners (and partners' partners, to the seventh degree of separation) do to their trademarked brands and names. Make no mistake: this NAA letter is the first shot in a war on all ad-blockers, not just on Brave. Though the NAA never reached out to us, we would be happy to sit down with them for an opportunity to discuss how the Brave solution can be a win win. We will fight alongside all citizens of the Internet who deserve and demand a better deal than they are getting from today's increasingly abusive approach to Web advertising. More From Business Insider Another ad blocker claims Adblock Plus used a trademark complaint to force it offline A bunch of big US websites say they're likely to support legal action against ad blockers 1 in 10 people in the US uses an ad blocker || Bitcoin finds room in small funds; large institutions still on sidelines: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Digital currency bitcoin has found favor among smaller investors, thanks to the availability of funds designed to invest in it, but remains a niche among the larger investing community. Investors at some family offices, smaller mutual funds, and traders at hedge funds say bitcoin has helped returns and demonstrated a low correlation with other asset classes. Hopes that bitcoin would become a broadly used alternative to other currencies helped buoy its price to more than $1,000 in December 2013, when its market capitalization was $13 billion. But the market cap has retreated since then, to about $6.4 billion as of Thursday. Early enthusiasts for the crypto-currency were drawn to its revolutionary ideals of transparency and a lack of central or official control. The risks of dealing in bitcoin were laid bare in 2013 when Tokyo-based exchange Mt Gox collapsed after admitting it had lost the equivalent of hundreds of millions of dollars of investor funds. The currency's earlier ties to gambling and criminal websites did not endear it to traditional investors. Jeremy Millar, founder and managing partner at Ledger Partners in London, estimated that 50 to 90 percent of bitcoin's current $6.4 billion market cap is held by near-institutional money such as individuals at hedge funds and family offices. That has not changed over the last two years. He does not have an estimate for institutional investment holdings of bitcoin. But he said they are likely to be insignificant, compared with the smaller investors who have fewer restrictions about fund allocation. "What is clear though is that over the last two years, bitcoin has emerged from its 'hacktivist' origins to a more institutionalized ecosystem which includes the participation of hedge funds, traders, and professional investors," said Millar. BITCOIN IN PORTFOLIOS Funds dedicated to investing in bitcoin are relatively small. The largest is the Pantera Bitcoin Fund, a $160 million hedge fund founded by Dan Morehead, formerly of Tiger Management, available to institutions and individuals who invest $50,000 or more. Story continues According to a Pantera Bitcoin Fund brochure, the fund was launched in July 2013, a period when bitcoin (BTC=BTSP) 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) || ‘Bitcoin is dead,’ says prominent fintech exec: Exactly three months ago, a well-known bitcoin developer, Mike Hearn, wrotea post on Mediumthat 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 Hearn’s post, according toa tracker at Blockchain.info. Just this week, theWall Street Journalprofiled 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.”
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 company’s servicelaunching 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 we’re not seeing real people use bitcoin. And we don’t know what problem it solves. Now, blockchain, I think, is a genius advancement in technology. But I’m not sure we’re seeing yet where to apply it. I’m pretty excited aboutR3 and Digital Asset Holdings. I think there are many areas where using blockchain is great, but it’s still early days.”
He’s not alone in either opinion: JPMorgan CEO Jamie Dimon, for one,has also saidthat 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, hassigned on to a consortiumto test blockchain technology for their transaction rails.
Of course, TransferWise isn’t a bitcoin company. But the company’s 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 bitcoin’s 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, “We’ve 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
Here’s how you can invest in the blockchain
Bitcoin's biggest investor just bought its biggest news site || Brave will pay you in Bitcoins for browsing the web (updated): Brendan Eich, thecontroversialformer CEO of Mozilla, recently launchedBrave, a privacy-focused browser that blocks ads and trackers. While that concept isn't new, Brave has a twist: You'll have to pay to completely block ads, and if you allow replacement ads (reportedly free of bloat, tracking and malware) you'll actually get paid yourself. Now, the company hasrevealedthe Brave Ledger, a Bitcoin-based payment system for users and publishers. The specifications aren't final, but Brave is now fielding comments and discussion from advertisers and developers.
Here's how it works: Previously, the company said it would allow users to either pay to block ads, or get paid to allow ad replacements from Brave's own network. Those ads, chosen by an ad-matching partner, are supposedly faster, safer and load after the publisher's content, not before it like regular third-party ads. For ad-free mode, you'll pay a monthly fee that will be distributed to publishers based on total traffic to each site. Brave's ad network would take a five percent cut of the total amount collected.
How many publishers will go along with this, since many, like Engadget parent AOL, have their own ad networks?
When users go for replacement ads, Brave will take a 15 percent cut, its ad-matching partner would take 15 percent and publishers would get the biggest chunk, 55 percent. The latter pot would be divvied up based on the same traffic measurements as the ad-free method. Users get 15 percent, but there are some caveats. First of all, you need to have a Brave Bitcoin wallet, and the default option will be to donate money to your preferred publisher. If you want to spend the money yourself, you'll need to verify your identity with a phone number and email address. Publishers will also need to be verified to a higher standard.
All of this creates as many questions as it answers. How much will users get paid (and have to pay) to accept or decline ads, for instance? Since the ad-free method amounts to a subscription, how many users will pay to skip ads? (Not many, if torrent software providers likeuTorrentare any indication.) Which publishers will go along with this, since many, like Engadget parent AOL, have theirown ad networks? These are tricky questions, and if the company doesn't have the right answers, its Brave browser model will be dead on arrival.
Update: Since this article was published, Brave has updated the source blogpostto say that paying for ad-blocking is "optional." In a previous version, it said "for ad-free mode, you pay a monthly fee in Bitcoin (BTC)." The article now states: "For sites in ad-free mode, you can optionally pay the site by drawing from your user wallet, funded by your revenue share from ad-replacement mode sites (see below) plus your own funds if you care to add any." A company spokesperson also confirmed that users do not have to pay to block ads.
There's no word on whether users would opt in or out to pay, and how a free mode would affect publisher revenues. Engadget has reached out for more information, and Brave's comments, in part, are below.
There is no subscription model. With Brave, a user can go ad-free if he wishes -- without paying. Of course we encourage users to support publishers and web sites, but we don't require users to pay to go ad-free.
[Random Sample of Social Media Buzz (last 60 days)]
Current price: 424.02$ $BTCUSD $btc #bitcoin 2016-04-14 10:00:10 EDT || One Bitcoin now worth $422.67@bitstamp. High $423.05. Low $418.00. Market Cap $ 6.519 Billion #bitcoin pic.twitter.com/VEiu0ykxdk || SWIFT/BTC ฿0.00015495 Vol.28836.26730433 | Bittrex ฿0.00015500 | Bleutrade ฿0.00015293 || LIVE: Profit = $141.26 (7.61 %). BUY B4.81 @ $410.00 (#VirCurex). SELL @ $415.81 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || Current price of Bitcoin is $420.00 via Chain || #TrinityCoin #TTY $ 0.000004 (-0.03 %) 0.00000001 BTC (-0.00 %) || 1 MUE Price: Bittrex 0.00000044 BTC YoBit 0.00000043 BTC Bleutrade 0.00000045 BTC #MUE #MUEprice 2016-03-13 21:00 pic.twitter.com/2DfiIDL845 || $409.38 at 15:30 UTC [24h Range: $403.00 - $412.31 Volume: 5567 BTC] || Two Hour Lull Update: Current Winkdex Bitcoin price: $448.34 #bitcoin || In the last 10 mins, there were arb opps spanning 16 exchange pair(s), yielding profits ranging between $0.00 and $194.89 #bitcoin #btc
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Trend: up || Prices: 444.67, 450.30, 446.72, 447.98, 459.60, 458.54, 458.55, 460.48, 450.89, 452.73
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Movado Group (MOV) Q1 2019 Earnings Conference Call Transcript: Logo of jester cap with thought bubble with words 'Fool Transcripts' below it Image source: The Motley Fool. Movado Group (NYSE: MOV) Q1 2019 Earnings Conference Call May. 30, 2018 9:00 a.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator [Operator instructions] Good day, everyone, and welcome to the Movado Group Inc.'s fiscal first-quarter 2019 earnings call. As a reminder, today's call is being recorded and may not be reproduced in whole or in part without permission from the company. At this time, I'd like to turn the conference over to Rachel Schacter of ICR. Please go ahead, ma'am. Rachel Schacter -- ICR Investor Relations Thank you. Good morning, everyone. With me on the call is Efraim Grinberg, chairman and chief executive officer, and Sallie DeMarsills, chief financial officer. Before we get started, I would like to remind you of the company's safe harbor language, which I'm sure you're all familiar with. The statements contained in this conference call which are not historical facts may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual future results may differ materially from those suggested in such statements due to a number of risks and uncertainties, all of which are described in the company's filings with the SEC, which includes today's press release. If any non-GAAP financial measure is used on this call, a presentation of the most directly comparable GAAP financial measure to this non-GAAP financial measure will be provided as supplemental financial information in our press release. Now I'd like to turn the call over to Efraim Grinberg, chairman and chief executive officer of Movado Group. 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 Story continues Efraim Grinberg -- Chairman and Chief Executive Officer Thank you, Rachel, and good morning, everyone. I would like to welcome all of you to Movado Group's first-quarter conference call. I will first provide some highlights of the quarter and discuss our strategic initiatives, and then Sallie will review our financial results. We will then open the call up to questions. We're extremely pleased to report a strong start to the year, driven by a double-digit growth in sales and adjusted earnings per share. Sales surpass our plan, growing 28.1% to $127 million and 22.2% in constant currency. The quarter included $2.2 million of additional revenue from a timing shift based on a new accounting standard for revenue recognition. This shift will continue to impact each quarter for the balance of the year. However, for the year, we expect it will be revenue neutral. Sallie will review this in greater detail. Our adjusted operating profit for the quarter was $8.9 million, versus $2.7 million last year. Our adjusted earnings per share grew to $0.37, versus $0.01 last year. We also continued to maintain a very strong balance sheet with a cash position of $177 million while repaying all of our bank debt. Our teams did a tremendous job of managing our inventory levels, reducing inventory by $1.3 million from the same period last year despite the strong sales growth. Now I'd like to spend a few minutes on our key strategic priorities for fiscal 2019. Coming off a strong finish to last year, our teams around the world have been energized to build on that momentum for our brands and regions. We are continuing to make progress on our digital transformation to become a leading omnichannel consumer-driven watch company. In our regions, our domestic wholesale business in Movado continues to perform well in our department and specialty store channels with a leading market share in the $300 to $3,000 price range and high single-digit sell-through growth for the season today. We showed very strong double-digit growth in Europe led by France, Germany and the United Kingdom, driven by the performance of our licensed brand portfolio and the addition of Olivia Burton, which helped fuel our International growth. We also had growth in our Latin America, Middle East and Asia Pacific markets. We saw continued growth and excellent performance in our Movado company stores with double-digit comps and total sales growth of 24.3%, with continued strong gross margin -- with continued gross margins. In our e-commerce business, we are very pleased with the positive momentum we are seeing from the Movado and Olivia Burton brands. From a brand perspective, our Movado brand experienced modest increases in the U.S. as well as in our international markets. On the product side, Movado's Bold men's bracelets performed well as well as Esperanza and the -- and classic Museum in the core collection. Movado Connect is also continuing to help drive retail performance. For Father's Day, we will deliver our new men's Museum Sport, which received a very positive reaction from our wholesale customers. We continue to focus on driving performance with our digital marketing efforts, both in paid and social initiatives. Olivia Burton continues to deliver excellent results since we acquired the company during the summer of last fiscal year. We continue to focus on global expansion with limited distribution and building a powerful e-commerce business. The Olivia Burton design team continues to innovate and excite women in both the watch and jewelry marketplaces. Some of our best sellers in Olivia Burton are in our Marble Florals collection, and we are getting a very good reaction from consumers to our new Bejeweled Florals. There are also still tremendous growth opportunities for the Olivia Burton brand, and we are looking forward to opening our first Olivia Burton retail store in early fall in Covent Garden in London. Our licensed brand division generated very strong results in the first quarter, particularly in Tommy Hilfiger, Hugo Boss, and Lacoste, driven by growth in Europe, the Middle East, Latin America, and Asia. In Tommy Hilfiger, we continue to perform very well, especially with our campaign styles featuring Blue IP in watches for both him and her. In Hugo Boss, our strong performance continues to be driven by our iconic Grand Prix and Companion collections for men. We are seeing an increasing opportunity in Hugo Boss watches for women, beginning with the strong performance of Allusion and our Classic Sport families. We continue to see an improving trend in the retail performance of Coach, driven by our Grand collection. We are positioning well -- we are positioning ourselves well for some very strong product introductions in Coach for the fall season. We are seeing strengthening momentum in Lacoste, especially in Europe, driven by our Ultra Slim Moon collection and our iconic Lacoste 1212 watches. We continue to grow our kids business in Ferrari and are excited about new product introductions for the balance of the year. In Rebecca Minkoff, we have learned a lot since our initial introduction and are introducing a more refined product assortment at appealing price points for the fall season. We are very pleased with our first-quarter results. While we are increasing our outlook today, we recognize that our first quarter is our smallest quarter, and we do not expect the benefits from the weaker dollar to continue for the balance this year. Over the last year, we have fine-tuned our strategic direction and have made great progress in transforming the company into an omnichannel leader in the watch category. I would now like to turn the call over to Sallie. Sallie DeMarsillis -- Chief Financial Officer Thank you, Efraim, and good morning, everyone. For today's call, I will begin with a review of our first-quarter financial results and balance sheet and then discuss our outlook. Before I begin, I would like to point out the special items included in our first-quarter results for fiscal 2019 and fiscal 2018. Our press release also describes these items and includes a table of GAAP and nonGAAP measures. Movado Group acquired Olivia Burton on July 3, 2017. Included in the results for the first quarter of fiscal 2019 was $767,000 of noncash amortization of acquired intangible assets. After tax, the charge related to the acquisition equates to $621,000 or $0.02 per diluted share. Our GAAP results for the first quarter of fiscal 2018 include a $6.3 million pre-tax charge, which equates to $4.4 million after tax, or $0.19 per diluted share, in connection with our cost-savings initiatives. The balance of my remarks will exclude the special items just discussed. Now turning to our results. We are very pleased with our broad-based sales growth across each of our categories, owned brands, licensed brands and retail. The company adopted the new revenue recognition accounting standard as of February 1, 2018, which resulted in shifts in timing related to the recognition of returns and markdowns between quarters. As Efraim mentioned, for the first quarter, our sales were favorable by $2.2 million due to the net decrease in returns and markdowns, which would have historically been recorded in this period. This change impacted operating income by $666,000 and after tax equated to $0.02 per diluted share. We anticipate a corresponding offset later this year. Sales for the first quarter were above our expectations and increased $27.9 million, or 28.1%, to $127.1 million. Our newest brand contributed to this growth as we did not own it for the first five months of last fiscal year. Yet even without Olivia Burton, we experienced high double-digit growth in the first quarter. In constant dollars, net sales increased 22.2%. By geography, International sales increased 33% in constant dollars. And in the U.S., sales increased 9%. Wholesale segment sales were $112.1 million, increasing 28.6% from $87.2 million in last year's first quarter. In constant dollars, wholesale segment sales increased 21.9%. U.S. wholesale sales increased 3.4% to $33.8 million, compared to $32.7 million last year. International wholesale sales increased 43.8% to $78.3 million, compared to $54.5 million in the prior year, an increase of 33% in constant dollars. Sales were strongest in Europe, Brazil, the Middle East, and Asia. The company's retail business continued to be a positive contributor with sales up 24.3% from last year. At the end of the period, we operated 40 outlet locations. Gross profit was $67.5 million, or 53.1% of sales, compared to $50.5 million, or 50.9%, in the first quarter of last year. The 220-basis-point increase in gross margins was primarily driven by the favorable change in foreign currency exchange rate and the increased leveraging our fixed costs due to higher sales. Operating expenses were $58.6 million, or 46.1% of sales, this year as, compared to $47.9 million, or 48.2% of sales, for the same period of last year. The decrease in operating expenses as a percent of sales was driven by sales leverage while also demonstrating disciplined cost control as we continued to invest in our growing business. The dollar increase in operating expenses was primarily the result of the following: a $6.1 million increase in marketing expense, a $1.3 million increase resulting from the unfavorable impact of foreign currency exchange rates, and a $3.4 million increase in other operating expenses to support our sales growth. Strong sales growth and the expansion in gross profit more than offset increased operating expenses, leading to better-than-expected operating income for the first quarter. To this end, operating income was $8.9 million, or 7% of sales, compared to $2.7 million, or 2.7% of sales, in the same year-ago period. Income tax expense of $5,000 in the first quarter of fiscal 2019 compares to an income tax expense of $2.2 million recorded in the first quarter of the prior year. The effective tax rate for both years is impacted by the timing of discrete items, although in opposite directions. The first quarter of fiscal 2019 is lower than our expectation for the full fiscal year due to the favorable timing of approximately $2.1 million, or $0.09 per diluted share, and the aggregate of a few discrete items, including the release of a valuation allowance on certain deferred-tax assets. The effective tax rate for the first quarter of fiscal 2018 was higher than expected for the full fiscal year, primarily due to the unfavorable timing of the impact of stock-based compensation, which increased last year's tax provision by $960,000, or $0.04 per diluted share. Net income in the first quarter was $8.7 million, or $0.37 per diluted share, versus net income of $258,000, or $0.01 per diluted share, in the year-ago period. Now turning to our balance sheet. Cash at the end of the first quarter was $177 million, as compared to $233.6 million last year. The year-over-year decrease was driven by the repayment of the $25 million outstanding on our revolver and the acquisition of Olivia Burton in the second quarter of fiscal 2018. Accounts receivable was up $13.5 million as compared to the same period of last year, primarily due to the increase in sales. Despite the sales increase of $27.9 million, or 28.1%, for the quarter and the Olivia Burton acquisition, inventory decreased by $1.3 million as compared to the same period of last year. In the first quarter, we repurchased $1.2 million of stock under our share-repurchase program, primarily to offset the potential dilution from stock award. Capital expenditures for the quarter were $1.7 million, and depreciation and amortization expense was $3.4 million. This included $767,000 related to the amortization of the acquired intangible assets of Olivia Burton. Now I'd like to discuss our updated outlook for the current fiscal year. Our outlook assumes currency rates consistent with recent levels. Our results may be materially affected by many factors such as changes in global economic risk, customer spending, fluctuations in foreign currency exchange rates and various other causes referenced in our 10-K filing. For fiscal 2019, we are raising our outlook. Sales are expected to be in the range of approximately $615 million to $625 million. We expect our gross margin percent to be slightly improved from fiscal 2018. Our outlook estimates that gross margin will be in a range of approximately 53% to 53.5% for the full fiscal year. We have a track record of disciplined control of our operating expenses, but we are also investing behind our International teams to support our growth. And with that, operating income is now projected to be in the range of approximately $71 million to $73 million. Based on the lower U.S. corporate tax rate, coupled with our jurisdictional earnings, the company now anticipates a 22% effective tax rate. And net income is expected to be in a range of approximately $54.9 million to $56.4 million. We expect diluted earnings per share in fiscal 2019 to be in a range of approximately $2.35 to $2.40. Capital expenditures for fiscal 2019 are estimated to be approximately $12 million. The outlook we have provided assumes no unusual items for fiscal 2019 and excludes the non-cash amortization of the acquired intangible assets related to the Olivia Burton brand. I would now like to open the call up for questions. Questions and Answers: Operator Thank you. [Operator instructions] We'll first go to Oliver Chen with Cowen and Company. Oliver Chen -- Cowen & Company -- Analyst Hi. Thank you. Good morning. The comments around International -- building the International team are interesting. What are your thoughts there in terms of what you're looking to do and what opportunities you see there? And then I was also just curious about the state of the U.S. wholesale department store channel. What are your thoughts on the levels of inventories here? And are you happy with the sell-through versus sell-in rates? Thank you Efraim Grinberg -- Chairman and Chief Executive Officer So I'll take those, Oliver. So on the first one, the investment is really behind some people in growing markets and as well as increased marketing expense behind our brands. And we're seeing very strong momentum in those markets, and you can see that by our International sales growth in the first quarter. And on the U.S. side, we're seeing improving trends in the U.S. department store business. We believe that overall, those businesses are improving both in the watch category and overall and that we're cautiously optimistic about the trends of those businesses in the second half of the year. And with those improving trends, the retailers, I think, are stocking their positions appropriately. Oliver Chen -- Cowen & Company -- Analyst OK, and that's been encouraging regarding the investments in the digital center of excellence. As you've had more time with this initiative, what are your thoughts on the priorities there and the progress you've made and what you see ahead? Efraim Grinberg -- Chairman and Chief Executive Officer Sure. It's very early on for us. So we just really launched that at the beginning of this fiscal year, and we're in the process of staffing that area and placing a greater emphasis on digital throughout the company. So I think this year will really predominantly be an investment year in that area, and I would expect to begin really seeing a real impact toward the latter half of this year and the beginning of next year. Oliver Chen -- Cowen & Company -- Analyst OK. And our other question was regarding M&A, Efraim. What are your general thoughts on M&A as a framework in terms of looking for ROIC-accretive deals or opportunities? What would make sense for you as you think about organic versus M&A-driven growth? Efraim Grinberg -- Chairman and Chief Executive Officer Well, I think we have both opportunities to drive ourselves organically as well as we're still proving out our Olivia Burton model. And that's been a great acquisition for us, and -- but it's very early in that stage. So we have a very strong balance sheet that really does continue to give us a certain amount of flexibility in the marketplace as well. Oliver Chen -- Cowen & Company -- Analyst Thank you. Best regards. Great quarter. Rachel Schacter -- ICR Investor Relations Thank you, Oliver. Efraim Grinberg -- Chairman and Chief Executive Officer Thank you. Thank you, Oliver. Operator [Operator instructions] We'll go next to Edward Yruma with KeyBanc Capital Markets. Edward Yruma -- KeyBanc Capital Markets -- Analyst Hey, good morning, guys. A couple of quick ones for me. First, lots of innovation at core -- in the core Movado product portfolio. Is the sales growth or sales improvement being driven out of kind of the new product lines, the heritage or the core? And then, I guess, as a follow-up, maybe a little bit of color on Minkoff since I think that underperformed a little bit. Thanks. Efraim Grinberg -- Chairman and Chief Executive Officer So I think I'll answer the first part about -- Movado is really -- we're seeing actually a revitalization in our core business and strong -- continued strong performance in Bold. Heritage is still a very limited collection. And we're also seeing improving trends in our e-commerce business over the same period last year. So we're excited about that. Rebecca Minkoff is still a very small part of the overall business and really a brand that we're incubating right now. We actually noted it has a very limited and exclusive distribution, and that actually makes it a very interesting opportunity for the company. And it's a millennially based brand, which also makes it an exciting opportunity for us. Edward Yruma -- KeyBanc Capital Markets -- Analyst Great. Thanks so much, guys Rachel Schacter -- ICR Investor Relations Thanks. Operator And it looks like there are no further questions at this time, so I'd like to turn it back over to management for any additional remarks. Efraim Grinberg -- Chairman and Chief Executive Officer Again, thank you for joining us for our first-quarter conference call, and we look forward to seeing you again at the at the end of the of the summer for our second quarter. Thank you Operator [Operator signoff] Duration: 26 minutes Call Participants: Rachel Schacter -- ICR Investor Relations Efraim Grinberg -- Chairman and Chief Executive Officer Sallie DeMarsillis -- Chief Financial Officer Oliver Chen -- Cowen & Company -- Analyst Edward Yruma -- KeyBanc Capital Markets -- Analyst More MOV 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 . || Why the Bears Are Wrong About Starbucks Stock: Starbucks(NASDAQ: SBUX)saw its share price dip after its long-serving CEO and current executive chairman Howard Schultz said he would be leaving the company effective June 26. That's at least partly because the last time he sort of left (moving from CEO to chairman) the company quickly lost its way and its stock tumbled.
Now, Schultz isn't just leaving the CEO job -- he's stepping away from the company entirely. While he will retain the title "chairman emeritus," that's just an honorary position, and he will no longer sit on the company's board. Instead, formerJ.C. PenneyCEO Myron Ullman will become chairman, while Ariel Investments President Mellody Hobson will become vice chairman and Kevin Johnson will continue in his role as CEO.
Those changes clearly spooked investors, as shares fell after the news became public (though they nearly fully recovered shortly thereafter). The company also has its share of bears, who are worried about its relatively slow rate of U.S. same-store sales growth and question whether the company has reached saturation in its home market.
Image source:YCharts.
While Johnson has yet to fully prove his worth, he should be able to execute the growth plan the company has laid out. That includes massively increasing itspresence in China.
Starbucks plans to open 600 locations a year inChinato give it 6,000 stores in the country by 2022 (about twice what it has now). The company expects its operating income from China to double over that time frame, and its revenue to triple.
"No Western company or brand is better positioned to evolve with the rapidly expanding Chinese middle class -- and we continue to mindfully evolve a coffee culture in China where the reward will be healthy, long-term, profitable growth for decades to come," said CEO Kevin Johnson in a press release. "We are committed to long-term investment in China."
In addition, the company plans to increase revenue by building out its premium brand, addingRoastery locationsin some of the world's leading cities, building about 1,000 higher-end Reserve stores, and adding Reserve bars to around 20% of the chain's cafes.
"Starbucks Roasteries under design or construction in the iconic, global cities of Shanghai, New York, Tokyo, Milan, and Chicago will join our Seattle Roastery in delivering an immersive, ultra-premium, coffee-forward experience like none other anywhere in the world," Executive Chairman Schultz in the chain'sQ2 earnings release.
The current Starbucks Roastery in Seattle is sort of a coffee palace, offering unique (and pricier) coffee drinks as well as higher-end baked goods from the chain's Princi brand. Reserve bars and stores are sort of a shrunken version of the Roastery experience, offering limited-edition coffees and other higher-end experiences.
It's hard to know exactly how much that will drive comparable-store sales, but it may bring in new customers and it should increase the check sizes of current visitors (even if only occasionally). In addition, stand-alone Reserve stores will be a new kind of experience for the chain's customers -- not quite as lavish as a Roastery, but with higher-end and more unique choices than a typical Starbucks, which should create new sales as well.
Starbucks' Whiskey Barrel-aged coffee was a Seatle Roastery exclusive that sold out quickly. Image source: Starbucks.
Losing Schultz is a blow, as he was such an integral part of the company. Still, Starbucks has a solid plan to grow that Johnson and the new board leadership should be able to execute.
There may be some stumbles along the way -- specifically with the Reserve stores, as only one currently exists -- but the overall strategy is sound. Starbucks has proven that demand exists in China, and the chain has shown that consumers will spend more for better experiences, special offers, and limited-availability products. Those two things should be more than enough to push the company to steady, long-term growth.
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Daniel B. Klinehas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Starbucks. The Motley Fool has adisclosure policy. || Why TreeHouse Foods Inc. Stock Popped Today: Shares ofTreeHouse Foods(NYSE: THS)were moving higher today after the private-label packaged food supplier posted better-than-expected results in its first-quarter report, reaching the upper end of its previous guidance. As a result, the stock was up 12.2% as of 12:53 p.m. EDT.
Image source: Getty Images.
Overall revenue fell 3.6% in the period to $1.48 billion, but excluding the divestiture of its soup and infant formula division and its stock-keeping unit (SKU) rationalization, sales increased 1.9%. That result topped analyst estimates of $1.44 billion.
Adjusted gross margin fell 240 basis points to 16.3% as the company continued its restructuring, absorbed higher food-commodity costs, and took a hit from a labor dispute. Operating expenses fell 0.2% as a percentage of revenue due to cost-cutting, but because of the decline in gross margin, adjusted earnings per share fell from $0.61 a year ago to $0.18. That still beat expectations of $0.13.
CEO Steve Oakland acknowledged the difficulties in the transition:
Our work to address near-term challenges such as margin recovery is ongoing. More broadly, we are working to better position ourselves to address the evolving retail landscape. As a private label industry leader, we are in the ideal position within food and beverage, as private label continues to grow at the expense of brands.
TreeHouse maintained its guidance for the year, calling for EPS of $2 to $2.40, which compares to expectations at $2.10 and a result of $2.81 last year. For the current quarter, it forecast EPS of $0.20 to $0.30, seeing a sequential increase due to higher pricing, operational improvements, and cost controls. However, that was short of estimates at $0.34.
The stock is stilldown sharplyover the past year, but the market seems to believe that TreeHouse is making progress on its restructuring plan, which aims to improve operating margins by 300 basis points through improvements to manufacturing and supply chain, and changes to its customer and category portfolio, as shown by the sale of its soup and infant formula division.
If management can deliver on its full-year guidance, shares look reasonably priced after today's gains.
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Jeremy Bowmanhas 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. || Veeva Systems (VEEV) Q1 2018 Earnings Conference Call Transcript: Image source: The Motley Fool.
Veeva Systems(NYSE: VEEV)Q1 2018 Earnings Conference CallMay. 24, 20184:30 p.m. ET
• Prepared Remarks
• Questions and Answers
• Call Participants
Operator
Good afternoon. My name is Rob and I will be your conference operator today. At this time, I would like to welcome everyone to the Veeva Systems Fiscal 2019 first-quarter results conference call. [Operator instructions] Mr.
Rick Lund, head of investor relations, you may begin your conference.
Rick Lund--Head of Investor Relations
Good afternoon, and welcome to Veeva's 2019 first-quarter earnings call for the quarter ended April 30, 2018. With me on today's call our Peter Gassner, our chief executive officer, Matt Wallach, our president, and Tim Cabral, our chief financial officer. During the course of this conference call, we will make forward-looking statements regarding trends, our strategies and the anticipated performance of the business. These forward-looking statements will be based on management's current views and expectations and are subject to various risks and uncertainties.
Actual results may differ materially. Please refer to the risks listed in our earnings release and the risk factors included in our most recent filing on Form 10-K, which is available on the company's website at veeva.com under the Investors section and on the SEC's website at sec.gov. Forward-looking statements made during the call are being made as of today, May 24, 2018. If this call is replayed or viewed after today, the information presented during the call may not contain current or accurate information.
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Veeva disclaims any obligation to update or revise any forward-looking statements. We will provide guidance on today's call, but we'll not provide any further guidance or updates on our performance during the quarter, unless we do so in a public forum. On the call, we will also discuss certain non-GAAP metrics that we believe aid in the understanding of our financial results. A reconciliation to comparable GAAP metrics can be found in today's earnings release, which is available on our website and as an exhibit to the Form 8-K filed with the SEC just before this call.
As a reminder, beginning this fiscal year, we adopted the new revenue-recognition standard commonly known as ASC 606 using the full retrospective method, which means that we have adjusted certain of our fiscal 2018 financial information according to the new standard. Please note that all results and guidance mentioned on this call and contained in our earnings release reflect the application of ASC 606. With that, thank you for joining us, and I will turn it over to Peter.
Peter Gassner--Founder and Chief Executive Officer
Thank you, Rick, and thanks to everyone for joining us today. I'm pleased to report another strong quarter for Veeva with financial results above our guidance. First-quarter total revenue was $196 million, up 22% year over year. Subscription revenue grew at 21% and our non-GAAP operating margin was 32%.
It was a great start to the year. The Veeva team executed exceptionally well. I'm encouraged by the pace and level of innovation we're delivering for customers and the life sciences industry overall. I'm also encouraged by our continued execution and attention to detail as we scale the company in multiple product areas, customer segments and geographies.
We just got back from Veeva Commercial Summit, where we brought our customers together for a great event in Philadelphia. This year, we had 1,500 attendees, making it our largest event ever and the biggest commercial life sciences gathering of its kind. At Summit, we announced a major new product, Veeva Nitro. Nitro is a next-generation commercial data warehouse built specifically for life sciences.
Nitro was very well-received because it has the potential to eliminate another major custom system that has been a real burden for our customers. It also sets up customers to fully leverage the power of AI as they look ahead. Today, life sciences companies largely build and maintain their own custom data warehouses for the commercial side of the business. It's a significant challenge and often repeated on a region-by-region basis.
First, it's hard to find the right resources to build and maintain a data warehouse. Once developed, these point-in-time systems quickly fall behind and they end up being replaced every five years or so. And most were built for business intelligence and reporting only. So they don't provide the right foundation to support AI.
It's similar in many ways to what we saw with CRM 10 years ago or content management five years ago and that the market is not being served well with any packaged cloud solution. So customers are having to piece things together themselves. Veeva Nitro offers a next-generation data warehouse built specifically for commercial life sciences. Veeva Nitro is a packaged cloud software solution that continually improves over time and includes an ecosystem of services and solutions around it.
It includes a prebuilt data model and prebuilt connectors for key data sources so companies have a data warehouse that's architected to quickly support their global and regional needs from analytics to reporting to AI. Veeva Nitro is a big deal for the industry and for Veeva. It's a long-term commitment to a significant and important area. It could eventually help to transform customer engagement in life sciences for the better.
And it's Veeva's first true analytics application, which will stretch us in new ways. Nitro is about innovation for the industry and for Veeva. Nitro's currently available in Japan for early adopters and planned for North America by the end of 2018. At Summit, we also let customers know of our intention to develop an AI engine specific to commercial life sciences that would use Nitro as its data source.
AI is an important technology where I believe Veeva can provide a valuable offering. We also think choices needed at the AI layer and we fully support our partners like Oktana and ZS who currently provide AI solutions for our joint customers. We're looking forward to working with Oktana and ZS to leverage Veeva Nitro as a data foundation for their AI solutions. Now turning to our results for the quarter.
First, in Commercial Cloud, where we had another excellent quarter in core CRM and the CRM add-ons. For example, in Q1, another top 50 pharma committed to use -- to expand their use of Veeva CRM to their European field force. They chose Veeva because they know Veeva CRM works well and they trust Veeva as a long-term partner. It also supports their drive to harmonize systems, which is a continuing trend we're seeing that's driving enterprise customers to standardize on Veeva CRM globally.
We're seeing the continued momentum of the Veeva CRM within small and midsized companies as well, with 14 new SMB customers added in the quarter. Uptake of the CRM add-on products also progressed quite well in Q1 with a number of wins including a top 20 pharma who selected Veeva CRM Events Management for their U.S. teams. Overall, we're very pleased with the performance of Veeva Commercial Cloud and excited about the opportunity to extend the value we provide with Veeva Nitro.
We also had another excellent quarter for Veeva Vault. On the R&D side, Veeva Development Cloud is really resonating. With development cloud, we are uniquely positioned to help customers streamline drug development with unique application suites for clinical, quality regulatory and, soon, safety, all built on a single modern cloud platform. We believe this will be transformational for the industry over the long term.
A key development cloud win in Q1 was with a top 50 pharma who selected Veeva Vault eTMF, Vault Submissions, and Vault Submissions Archive as their enterprise standards worldwide. This customer was prompted by the need to unify systems and processes and improve compliance. They're an existing Commercial Cloud customer and these new applications are their first purchases in R&D. When they're successful with these products, there's the potential to expand to other areas of Veeva Development Cloud over time.
In addition to the top 50 RIM win in Q1, we also had a top-five pharma go live in the quarter with the first phase of their Vault RIM project. This go-live is very significant because it's our largest RIM go-live to date and a big milestone for our regulatory products. Congratulations to the customer and the Veeva team for achieving this important milestone together. It was also another great quarter in quality and in clinical with a number of notable new wins in go-live.
In the clinical operations area, eTMF continues growing strong. Q1 was our second best quarter ever for Vault eTMF sales. We also secured our first win at a top 20 for Vault Study Startup. Study Startup is a relatively new software category emerging to address an area that's historically been underserved.
Once live, we anticipate this could be an important lighthouse account for the industry as they look to gain considerable efficiency in the Study Startup process. Vault eTMF also continues to gain traction. We now have 24 customers with 10 live. This is amazing progress for a product that has only been available since April of last year and is a strong indication of the pent-up need for innovation in clinical.
Vault EDC is also progressing well. We now have nine early adopters and three are live. Our early customers are happy and enthusiastic about the product. One of our first live customers and their CRO presented at the clinical data event we held in Q1 in Boston.
They detailed their success with Vault EDC, specifically citing the modern technology and speed of study-build advantages they gained with Veeva. It is still early days for Vault EDC, but I believe we are on the right track and can be a new long-term leader. Finally, I want to give a brief update on Vault QualityOne, our quality product suite for companies outside of life sciences. We added new customers in the quarter and continued to make excellent progress with early adopters in their deployment.
The team is preparing to host their first customer event next month in Cincinnati, which is an important milestone and will be a great form for our early customers to share their successes and lessons learned. In summary, it was another great quarter. Our pace of innovation, technology leadership and focus on customer success continues to give Veeva a major strategic advantage. We are paving the way for strong growth well into the future with a broad and growing suite of products.
I appreciate the great execution by the Veeva team and the trust and confidence of our customers and partners. With that, I'll turn it over to Tim to review our financial results in more detail.
Tim Cabral--Chief Financial Officer
Thanks, Peter. Q1 was another quarter of consistent strong execution. Subscription revenue was up 21% to $156 million from $129 million last year. Momentum across our product lines continue to drive strong growth especially within Vault.
Services revenue was more than $39 million, up 29% from over $30 million a year ago. This was a material outperformance from our expectations, primarily driven by heavy demand within Vault R&D. In addition, we did benefit from some one-time items in Q1. So we expect Q2 will likely be $1 million to $2 million less sequentially.
Total revenue was over $195 million, up from nearly $160 million a year ago, a 22% increase. Vault represented 44% of total revenue, up from 37% in Q1 of last year. Our non-GAAP operating income came in at almost $63 million, a 32% operating margin, which was above the high end of our guide. This was driven primarily by outperformance on the top line.
Across the company, we added 72 people net in the quarter, finishing at 2,243, up from 1,874 a year ago.Turning to the balance sheet. Deferred revenue was $290 million, compared to $267 million at the end of the fourth quarter. This resulted in calculated billings of $214 million, which was ahead of our guidance of $200 million to $202 million. This result was driven by the outperformance in services revenue, better-than-expected billings duration before the business closed in Q1 and strong bookings.
Please remember that there are numerous factors that make year-over-year comparisons of this metric highly variable on a quarterly basis. Therefore, we do not believe it is a good indicator of the underlying momentum of our business and we do not manage to it internally. Our subscription revenue guidance and calculated billings guidance for the full fiscal year are the best indicators of our momentum. Looking ahead, we expect calculated billings of roughly $175 million in Q2 and $900 million to $905 million for the full year, which is an increase from the $875 million to $880 million guidance provided last quarter As you consider the full-year guide, please note that during the first quarter, we had a large customer move their renewal date from Q1 to Q4.
This means we billed the customer for nine months in Q1 and we will bill them again for the full annual amount toward the end of Q4. This results in an incremental $18 million worth of calculated billings for fiscal '19, which is included in our guidance for calculated billings. Additionally, with this dynamic, we are now expecting about 41% to 42% of our billings for the year to come in Q4. When considering calculated billings, please remember that with the adoption of 606, the new formula for calculated billings is now revenue plus change in deferred revenue minus change in unbilled receivables.
Elsewhere on the balance sheet, we exited Q1 with $918 million in cash and short-term investments, up from $762 million at the end of Q4. This increase was driven by our performance in cash from operations, which came in at $151 million. One thing to note: we issued an invoice late, which resulted in a collection of $20 million in early May that normally would have been collected in Q1. Also note that Q1 cash flow benefited from about $10 million worth of excess tax benefit related to equity compensation.
For the full year, we now expect cash from operations to be at least $240 million, excluding this excess tax benefit. Let me wrap up by sharing our outlook for next quarter and the rest of the year. For the second quarter, we expect revenue between $203 million to $204 million, non-GAAP operating income of $64 million to $65 million, and non-GAAP net income per share of $0.33 to $0.34 based on a fully diluted share count of approximately 155.5 million. For the year, we now expect revenue in the range of $826 million to $830 million, an increase from our previous guidance of $815 million to $820 million.
We now expect subscription revenue to be roughly $680 million for the full year. We continue to expect Commercial Cloud subscription revenue growth of about 10% over last year and Vault subscription revenue growth of more than 40%. For fiscal '19, we now anticipate non-GAAP operating income of $261 million to $265 million, a margin of almost 32%. This is an increase in both dollars and margin from our prior guidance of $250 million to $255 million and a margin of about 31%.
We are now targeting non-GAAP net income per share of between $1.36 and $1.38 based on a fully diluted share count of approximately 156 million. To conclude, I'm very pleased with the way that our team has started the year and with our increased outlook for the remainder of the year. Our field teams are executing and our product teams continue to innovate. Given this consistent execution, we remain confident in our ability to deliver at least 20% subscription revenue growth through 2020.
And new products like Nitro, an opportunity similar in size to our core CRM product, provide us with yet another vector for driving growth over the longer term. As always, thank you for joining the call, and I will now turn it back to the operator for questions.
Operator
[Operator instructions] And your first question comes from the line of Rishi Jaluria from D.A. Davidson. Your line is open.
Rishi Jaluria--D.A. Davidson -- Analyst
Hey, guys. Thanks. Thanks for taking my question. Want to dig a little bit more into Nitro, definitely an exciting announcement.
I guess to start I would -- can you talk a little bit about the decision to use AWS Redshift and maybe what the economics of the partnership looks like? Is it going to be something similar to CRM? And maybe alongside that, why the partner versus building kind of your own system from the ground up like you do with the Vault? And then I have one follow-up.
Peter Gassner--Founder and Chief Executive Officer
OK. Great. This is Peter. I'll take that one.
Yes. When you look at Nitro as being a commercial data warehouse application, there's many technologies that would go into that, some of which we're going to build, some of which we're going to embed in. At the database layer, Amazon Redshift was a clear right choice because this is a data warehouse type application. We want to do it in the cloud, and Redshift has really emerged as the great database and a clear leader there.
In terms of the economics, we won't get into the specifics there, but I think we're not going to see very material cost of goods sold on Nitro and I would say less than what we'd see cost of goods sold on our CRM product, but we'll see how that plays out over time.
Rishi Jaluria--D.A. Davidson -- Analyst
OK. That's helpful. And I guess kind of following up on that, can you give us a sense for how the integration between Nitro and Vault and Commercial Cloud solutions might look like once the product's scaled out?
Peter Gassner--Founder and Chief Executive Officer
In terms of the integration, that will be a key part of the value proposition. So between, for example, Nitro, it's focused on the commercial area. So the key integrations -- a couple of our key products are Veeva CRM and the Vault PromoMats. So we'll build that integration in a very seamless way so that customers won't have to build it, won't have to maintain it, and that's a pretty complex integration.
So you're right to point out. These integrations are a core part of the value prop and that's a core part of the value we're delivering.
Rishi Jaluria--D.A. Davidson -- Analyst
Okay. Got it. That is helpful. And maybe if I can sneak in a housekeeping question for Tim.
When you talk about your calculated billings expectation for the next quarter and following year, that is including the new definition of calculated billings with unbilled accounts receivable, correct?
Tim Cabral--Chief Financial Officer
That's correct, Rishi.
Rishi Jaluria--D.A. Davidson -- Analyst
OK. Great. Thanks, guys.
Operator
Your next question comes from the line of Pat Walravens from JMP Securities. Your line is open.
Pat Walravens--JMP Securities -- Analyst
Oh, great. Thank you, and congratulations. Just following up on Nitro. Can you talk a little bit, Peter, about what the most common use cases would be? I mean is it things like paralyzed correlation between genes and specific diseases? Or is it things like sales force productivity.
Peter Gassner--Founder and Chief Executive Officer
The common use cases are sales force productivity, marketing productivity, which types of content are being the most effective, predicting, in some ways, sales, forecasting. And then also when we look in the AI use cases, that's about -- for example, it could be at a specific sales rep or the specific sales manager level what to do in the next week, some suggestions about what to do, also maybe what not to do in the next week. So those are the most common use cases.
Pat Walravens--JMP Securities -- Analyst
OK. Thank you. And why start in Japan?
Peter Gassner--Founder and Chief Executive Officer
For Japan, Matt, do you want to take that one?
Matt Wallach--Co-Founder and President
Sure. Yes. So Japan has some specific market dynamics that are different from anywhere else in the world. Specifically, the distributors actually send daily sales data that has to get all the way out to the sales reps.
And so we had customers for the last few years really pushing us to help them to solve that problem. And so it just seems like the ripe opportunity to get started in the data warehousing space there. But with the use case, that's slightly different than what we'll see in the rest of the world.
Pat Walravens--JMP Securities -- Analyst
OK. Thank you.
Operator
Your next question comes from the line of Brad Sills from Bank of America Merrill Lynch .Your line is open.
Brad Sills--Bank of America Merrill Lynch -- Analyst
Hey, guys. Great. Thanks for taking my question. Just wanted to ask about the top five, your RIM deal, obviously, you're seeing real traction at that end of the market with regulatory.
What's your expectation for clinical? Would you see some potential validation in regulatory for clinical in some of these top 20 accounts?
Matt Wallach--Co-Founder and President
Sure. Hey, Brad. It's Matt. So yes, it was a big deal that we celebrated that big first go-live in RIM, and clearly, there's connections between all of the different areas within development cloud.
So at a lot of our big RIM customers that actually started with clinical, and that influenced their appetite for doing something in RIM and for quality. And the one that we just referenced this one that just went live, actually their first Vault development cloud application was RIM. And so we're hopeful that over time that will influence the clinical and quality area. But for sure, we see that influence across the industry with large and small companies, and there have been some patterns in the order in which companies approach it, but it really just depends upon where their business needs start.
What we've seen consistently, though, no matter where they've started, is that the ability for us to cross-sell the next solution is really aided by a successful implementation of the first one, not unlike what we've seen in other parts of our business.
Brad Sills--Bank of America Merrill Lynch -- Analyst
Great. Thanks, Matt. And then maybe one on safety. I know it's early, but if you could provide any color on where you're seeing early interest, maybe some low-hanging fruit in the pipeline, just opportunity for safety.
Matt Wallach--Co-Founder and President
So actually your first question is a good lead-in to the safety one because safety systems have to be integrated to quality systems, clinical systems, and regulatory systems. So the more companies have adopted the development cloud, the more likely they are to look at safety as a logical next step. What we've learned in the last 90 days was basically more confirmation that we're on the right track. We've been engaging with dozens of companies that are getting more and more excited for the arrival of that product later this year.
Brad Sills--Bank of America Merrill Lynch -- Analyst
Great. Thank you so much, Matt
Operator
Your next question question comes from the line of Kirk Materne of Evercore ISI.
Daniel Greenfield--Evercore ISI -- Analyst
Hi, guys. Thanks for taking my question. This is Daniel Greenfield on for Kirk. Just wanted to touch base on the partner channel again.
I mean do you guys feel like as your portfolio broadens, you're going to need to expand on that more? I guess just talk about the evolution of that ecosystem as you guys become a more strategic platform vendor. Thanks.
Matt Wallach--Co-Founder and President
Hey, Daniel. So I would say if we look at it through two lenses, one is the very large systems integrators, I think the broader product portfolio is making us a more and more important part of their go-to-market strategy and their revenue growth. So large SIs are getting more interested in working with Veeva and our customers as we have a broader portfolio of solutions to bring. Then on the smaller sort of niche partner side, each time we go into a new space, there is a whole collection of companies that is specialized just there.
So in safety is a great example. There's a big ecosystem of safety-specific companies that we never spoke to that now we're starting to talk to. I think we'll see similar things around data warehousing and AI as that evolves over time as well. So the partner channel is basically as important as it's always been and we're able to replicate a lot of the way that we work with them when we go into new areas.
Daniel Greenfield--Evercore ISI -- Analyst
Great. That's helpful. Thanks.
Operator
Your next question comes from the line of Scott Berg from Needham. Your line is open.
Scott Berg--Needham & Company -- Analysts
Hi, everyone. Thanks for taking my questions here. I guess I got -- well, just one quick one. Tim, you had kind of reiterated the company's expectations that continue growing subscription revenues at a 20%-plus rate through 2020.
Just wanted to know how you guys are thinking about that from maybe a product-contribution standpoint now that we're six months further into discussing those goals? We know Vault's going to be a major driver there, at least generically of that growth during that time frame. But new products like Nitro, how much do they factor into helping drive those goals?
Tim Cabral--Chief Financial Officer
Yes. If you think about, Scott, the new products like Nitro, we will approach the go-to-market similarly to other new products that you've heard us announce and bring to market over time, which is we start with the early adopters and we spend a bit of time there, maybe in the course of one to two years to really make sure that those early adopters are being incredibly successful before we move into the reference selling model and then revenue will scale out from there. So specifically, Nitro doesn't really materially contribute to that time period that you're talking about. It will contribute more to the post-2020 time frame.
Scott Berg--Needham & Company -- Analysts
Got it. Very helpful. Thanks for taking my question.
Operator
Your next question comes from the line of Sterling Auty from JPMorgan. Your line is open.
Sterling Auty--J.P.Morgan -- Analyst
Yes. Thanks. Hi, guys. So just along the Nitro question line, I missed it if you said it, but how should we think about what the total addressable market for the solution would be? And what are the technologies that it would actually be replacing? From what companies?
Matt Wallach--Co-Founder and President
Sure. Hey, Sterling. Glad you're able to make it to the call. So Nitro -- data warehousing is a big and valuable space for life sciences companies.
In the commercial space, it's one of the largest areas of spend. So when we look at the market for Nitro specifically, we look at it as similarly sized to the base CRM market. In terms of what we replace, there is no single vendor that is the leader there. So it's a collection of companies that have outsourced data warehouses that are built on a number of different technologies.
There's still some old Teradata or Netezza appliances and databases out there but there's never been an application. So there's never been a cloud application where on the first day of the data warehousing project, the data warehouse is done and all of the Veeva CRM and all of the Vault PromoMats data is already in it. And then the project is to add other third-party data sources and to build the BI layer with familiar tools like Tableau and Click. So we're not replacing anything that looks like Nitro but the job that Nitro will do has been done by a collection of different kind of custom-build and cobbled-together systems over the last few decades.
Sterling Auty--J.P.Morgan -- Analyst
Great. Thank you.
Operator
Our next question comes from the line of David Hynes from Canaccord. Your line is open.
David Hynes--Canaccord Genuity -- Analyst
Hey, thanks, guys. So just two related questions tied to the CRM, the core product. Curious, update on kind of the add-on pipeline. I mean it seems like most of the innovation we're hearing you guys talk about is involved in new markets and now the data warehouse.
Curious, is there still a focus on the add-on pipeline? What should we expect is coming? And then the second part of that question is how do you think about pricing as a lever to growth for the core CRM?
Matt Wallach--Co-Founder and President
Sure. So I'll take the second question first. I really like looking customers in the eye and telling them that we have never raised their price. So a company that bought Veeva CRM 11 years ago pay the exact same price, and we hope to be able to do that into the future.
So we do not plan to use any kind of pricing power to grow the company. In terms of the add-on pipeline, so I'm not sure. Are you asking about the add-on products we have today that we haven't talked a whole lot about? Or are you asking about other potential products...
David Hynes--Canaccord Genuity -- Analyst
Yes. I was more asking not necessarily what's to come but should we expect there to be the introduction of additional add-ons. I mean it was a pretty powerful lever to drive. And I think you've talked in the past around 15% to 20% uplift on CRM pricing for every incremental add-on.
We haven't had many incremental add-ons released lately. So curious how you're thinking about that as fiscal '19 plays out.
Matt Wallach--Co-Founder and President
Yes. So through this year, I think the focus is going to be on some of the ones that we still consider to be brand-new, Engage Meeting and Engage Webinar. Engage Webinar, combined with the Events Management module, is really quite powerful, and we're just at the very, very beginning of that. And then since we're talking about add-ons, I think it's a good distinction that let's not think about Nitro as an add-on, right? So Nitro is a market similarly sized to CRM.
So we'll talk about CRM and CRM add-ons in a similar way that we have them. And when we talk about Nitro, it's going to be a little bit of a different narrative.
David Hynes--Canaccord Genuity -- Analyst
OK. Yes. Makes sense. Thanks, guys.
Operator
Your next question comes from the line of Bhavan Suri from William Blair. Your line is open.
Bhavan Suri--William Blair & Company -- Analyst
Hey, guys. Thanks for taking my question and congrats. I guess just [Inaudible] that Takeda-Shire merger. Does that have any [Inaudible]
Peter Gassner--Founder and Chief Executive Officer
Bhavan, I'm sure the transcript won't get it, but I think I got the question. You're asking about the Takeda-Shire merger? So we've...
Bhavan Suri--William Blair & Company -- Analyst
Correct. The impact to Veeva.
Matt Wallach--Co-Founder and President
Yes. We got it. So we've always said on these calls the high volume of mergers and acquisitions in this industry had been neutral to positive for Veeva, and [Inaudible] that a megamerger would be negative. Now the Takeda-Shire merger would be the largest one that we've seen since starting the company, but the two companies don't operate in a large number of overlapping therapeutic areas.
It's just a couple. So they're unlikely to stop any clinical programs and unlikely to have large layoffs in the sales force. So from a financial perspective, the future impact would be maybe a slight headwind but it would not be a material change even though it's such a large merger. But I would say, more importantly, we have a strong partnership with both of those companies and we're going to work closely with them through this merger to make sure that it even gets stronger as a result.
Bhavan Suri--William Blair & Company -- Analyst
Got it. That's helpful. And then I'll just ask a quick one on the CRO initiatives. You've been targeting those guys, just love to get some color on where you are, any progress you've made, and sort of how you've seen sort of any successful sort of engagement with those guys.
I know I think PAREXEL may have been a RIM and a submission customer, I forgot exactly, but I was wondering if you have any updates to that business.
Peter Gassner--Founder and Chief Executive Officer
CRO business continues to go well. I won't give any comments on any particular customer. But the general dynamic that's going on, the CROs, they have to serve the life sciences industry. They serve the very large life sciences customers.
They serve all the way down to the very small. So they have to be aware of their needs and what they're doing. The CROs will see and are seeing our broadening footprint, that it's serving many different parts of life sciences, especially on the R&D side. So we're getting -- we, Veeva, are getting more strategic with their customers.
So that's one thing they think about. And the second thing is that our footprint that we can sell into CROs is continually getting broader especially as EDC moves forward and when it moves out of the early adopter stage. So while I don't have anything specific to report, certainly, our momentum and our pipeline is doing well and we have a specialized team focusing on CROs. So I'm quite confident with that business over the long term.
Bhavan Suri--William Blair & Company -- Analyst
Great. Thanks for taking my question, guys.
Operator
Your next question comes from the line of Brian Peterson from Raymond James. Your line is open. Again, the next question comes from the line of Brian Peterson from Raymond James. Your line is Open.
Your next question comes from the line of Stan Zlotsky from Morgan Stanley. Your line is open.
Stan Zlotsky--Morgan Stanley -- Analyst
Hey, guys. Thanks for taking my question. and congrats. So a couple of quick ones for me.
First one, just going back to Nitro, how does the product fit in with your existing data products, right? So you, like, network and everything else you have on the data side because that seems like a very natural extension. And also how is network -- how is it rather Nitro going through price? And then I have a quick follow-up for Tim.
Peter Gassner--Founder and Chief Executive Officer
In terms of Nitro and how it relates to Network and OpenData, Nitro is not dependent on Network or OpenData, so it will -- Nitro will work whether the customer uses our network product or whether the customer uses a competitive product or whether the customer uses OpenData or whether they're using a competitive product. There is a requirement for Nitro that you have to be using Veeva CRM because that's where the core of all the activity data comes from, etc. So that's the lay of the land there. We want to be very open in the Nitro layer but it's just not -- there's a large part of the industry uses Veeva CRM and it wouldn't be practical to build Nitro and try to figure out the data mapping with a non-Veeva CRM system.
And in terms of the pricing for the Nitro, was there a specific question there?
Stan Zlotsky--Morgan Stanley -- Analyst
Is it going to be per-user pricing? or is it going to be based on volume of data?
Peter Gassner--Founder and Chief Executive Officer
Yes. And then for the specific pricing that way, that's something we'll work out with our early adopters, and usually we don't discuss that at this time, but we're looking at a variety of options and I'm sure we'll settle on the right things for the customers.
Stan Zlotsky--Morgan Stanley -- Analyst
OK, perfect. And then a quick follow-up for Tim on billings. Could you maybe help us quantify how much was the beat in billings in this quarter was from pro services and if there's any FX impact on billings, calculated billings in the quarter?
Tim Cabral--Chief Financial Officer
Sure, Stan. So no FX impact on billings for the quarter. And in terms of the percent of the beat that was in pro service outperformance, it was about half. It's about 50% of that billings beat this quarter came from pro services.
Stan Zlotsky--Morgan Stanley -- Analyst
And how about -- and duration was probably a quarter or so?
Tim Cabral--Chief Financial Officer
Duration has been the next largest. Stan, I'm sorry. Complete -- finish your question.
Stan Zlotsky--Morgan Stanley -- Analyst
No, I just wanted to get the breakdown of the rest, the other 50%.
Tim Cabral--Chief Financial Officer
Yes. So the other 50%, I would say two third of it was duration and the other third was better-than-expected bookings.
Stan Zlotsky--Morgan Stanley -- Analyst
OK. Perfect. Thank you, guys.
Operator
Your next question comes from the line of Tom Roderick from Stifel. Your line is open.
Parker Lane--Stifel Financial Corp. -- Analyst
Hi, It's actually Parker Lane in for Tom. Thanks for taking my question. You alluded there's a nice growth in the QualityOne customer base this quarter. I was wondering if you could go back, though, and discuss the extent that you've seen with some of your early adopters there and whether or not you've learned anything from those customers as far as product expansion and product road map is concerned.
Thanks.
Peter Gassner--Founder and Chief Executive Officer
I'm sorry. Can you repeat that specific question? I couldn't catch the first part of it and I want to be accurate on it.
Parker Lane--Stifel Financial Corp. -- Analyst
I was just mentioning that you have some nice sizable customers outside of life sciences. And I'm wondering in your discussions with them, being this is a new market, have there been any new product areas that you consider that are sort of adjacent to the QualityOne market that you could address over time.
Peter Gassner--Founder and Chief Executive Officer
Yes. So we are having good success with QualityOne outside of life sciences and then some large customers particularly in the CPG and the chemicals area. And when we do that, we always get exposed to different product opportunities. And when a customer starts working with our platform, "Hey, we're working with you here, Veeva.
We have a need over on this site, or over on that site, something adjacent." So that's really been going on for the past year or so. We haven't locked in on any new product area that we're ready to talk about, but there's certainly a lot of adjacent opportunity in it. The trick is to really figure out when to jump into one of those and which one to jump into and we're not ready to talk about any specifics there just yet.
Parker Lane--Stifel Financial Corp. -- Analyst
Got it. And then on the clinical front, you also referenced some nice customer wins in EDC and CTMS, how effective -- you're doing pretty well there. Can you tell us what the appetite is for a full clinical suite that you're seeing in the market and what sort of momentum you had in replacing some of the existing competitors out there that have been deeply embedded in this market for some time?
Matt Wallach--Co-Founder and President
Thanks, Parker. So yes, I mean, we're definitely seeing an increased appetite for going all-in with clinical. The really logical ones are eTMF, Study Startup and CTMS. Those tend to go together.
It's similar people, similar budgets and very tight integration between the different pieces. And so there's lots of examples of companies expanding. In fact, one specific example, as I think almost every CTMS customer is an eTMF customer also. All of the Study Startup customers are eTMF customers.
So those things go together and I think that as the CTMS product matures, it's going to -- and that is as mature as the eTMF and Study Startup, that's an integrated suite that's never been possible before. I think EDC, we still see a lot of connections, and sometimes it's the same people. Sometimes it's different people, but people see it as their clinical IT landscape, and they understand that one platform is better than two or three or five. Competitively, we see the same companies that we always saw in each of these areas.
Some are strong in eTMF. Some are strong in EDC. Some are strong in CTMS. We don't have a competitor that is strong in all of them.
So not only do we try to have an integrated suite but we also are trying to create a very best product in each one of those areas. And so we see a lot of momentum across clinical U.S., Europe and building in Japan as well.
Parker Lane--Stifel Financial Corp. -- Analyst
Excellent. Thank you, guys.
Operator
Your next question comes from the line of Brian Peterson from Raymond James. Your line is open.
Brian Peterson--Raymond James -- Analyst
Thanks, guys. I'm sorry about that. Apparently, this telephone is bamboozling me here. , but -- so I wanted to hit on eTMF.
It hasn't really come up yet, but I think you mentioned that this was the second best quarter ever for eTMF, so I just want to be clear. Is that a new business dynamic? Or is that revenue? Maybe expand a little bit on what drove that.
Peter Gassner--Founder and Chief Executive Officer
Thanks, Brian. And by the way, congratulations. That's the first time that we've heard the word bamboozle on our earnings call. So that's really good.
Well, now to the more serious question of eTMF. Now the dynamics there, it's relatively big. This is something eTMF -- even though we've been in this market for quite a while and we have a lot of customers, they're large customers. It goes all the way down to quite small customers.
They're pharma, biotech, med device, CRO customers. They all need eTMF. And some of these implementations are long. So it's something sometimes a deal that we have entered into, maybe two years ago, there's still some revenue increase now as the customer would complete the rollout of an enterprise license agreement or maybe they would just add incrementally more studies.
So there's really no change in the dynamic. It's just to point out that this is really a large market and it plays out over multiple years and over multiple geographies and customer segments.
Brian Peterson--Raymond James -- Analyst
Got it. Thanks for that. And maybe one for Tim. Just, you kind of outlined the early adopter phase that you have with Nitro and how that's going to take -- play out over the next few years.
We have a lot of products that are in this early adopter phase now. So when should we think about those transitioning out of that phase? And is there any particular time period that we should really see some accelerated sales and marketing investments? Thanks, guys.
Tim Cabral--Chief Financial Officer
Yes. It's a good question, Brian, in that we have announced a number of new products over the last 18 months, and they're in that early adopter stage, or in the case of Nitro, as you mentioned specifically, we have it in Japan generally available and it will be later on this year that it will be in the United States. So the early adopter stage is in front of us. I think as we look to the subscription revenue guidance that we gave through 2020, the majority -- the vast majority of where that is coming from was from the core products in Vault and in the Commercial Cloud that we had up into that time period, although we will see some contribution from some of the newer initiatives like QMS, like outside life sciences.
I think those will really start to contribute materially to revenue after that 2020 time frame is what I would say. So again, short strokes, there will be some contribution revenue between now and 2020 with more of the material revenue contribution outside -- past that time frame.
Brian Peterson--Raymond James -- Analyst
Understood. Thanks, Tim.
Operator
Your next question comes from the line of Ben Rose from Battle Road Research. Your line is open.
Ben Rose--Battle Road Research -- Analyst
Good afternoon. I have a couple of questions. First for Tim. I think this is the first time we've seen the unbilled receivables account on the balance sheet.
I was curious to know if this is traceable to a particular customer or product set and whether we should expect to see the existence of this account going forward.
Tim Cabral--Chief Financial Officer
Yes. Ben, the real driver here is the -- with the adoption of 606 and the way that we are treating the revenue recognition of some of our multi-year arrangements, we have identified that account to articulate what the impact is from those particular accounts and how we are accelerating revenue in front of billings, in some cases. Now what you'll see over time, Ben, just a little bit more detail there, typically, that account was within accounts receivable. And what that account would've had as a subaccount was we bill services revenue after we take the revenue.
So when we take a month of revenue like, let's say, April, we will take the revenue in Q1 but we'll bill it in Q2. So that also is part of the unbilled receivables that you'll see going forward. So a month of services, billing, and revenue.
Ben Rose--Battle Road Research -- Analyst
OK. That's helpful. And then for Peter, with regard to Nitro, is it logical to assume that your product road map would include the application of Nitro to various parts of the development cloud?
Peter Gassner--Founder and Chief Executive Officer
Yes. Well, at this time, we're focusing Nitro in the commercial area, in Nitro and then we'll follow that on with an AI engine over time targeted to late 2019, late next year. So that's our focus right now. And that type of technology is very applicable to the development cloud but we made no commitment to do that.
At this time, we're really going to focus on our early adopter success and getting the technology right. So the type of data warehouse application for the development cloud, that's something we'll always be evaluating but we made no decisions on that at this time.
Ben Rose--Battle Road Research -- Analyst
OK. Thank you very much.
Peter Gassner--Founder and Chief Executive Officer
Thank you.
Operator
There are no further questions at this time. I will turn the call back over to Mr. Peter Gassner for closing remarks.
Peter Gassner--Founder and Chief Executive Officer
Thanks for your time today, everyone, and thanks again to the Veeva team. We appreciate all the outstanding work, execution and focus on product excellence allows us to deliver for our customers. So have a great evening, everyone. Thank you.
Operator
[Operator signoff]
Duration: 50 minutes
Rick Lund --Head of Investor Relations
Peter Gassner --Founder and Chief Executive Officer
Tim Cabral --Chief Financial Officer
Rishi Jaluria --D.A. Davidson -- Analyst
Pat Walravens --JMP Securities -- Analyst
Matt Wallach --Co-Founder and President
Brad Sills --Bank of America Merrill Lynch -- Analyst
Daniel Greenfield --Evercore ISI -- Analyst
Scott Berg --Needham & Company -- Analysts
Sterling Auty --J.P.Morgan -- Analyst
David Hynes --Canaccord Genuity -- Analyst
Bhavan Suri --William Blair & Company -- Analyst
Stan Zlotsky --Morgan Stanley -- Analyst
Parker Lane --Stifel Financial Corp. -- Analyst
Brian Peterson --Raymond James -- Analyst
Ben Rose --Battle Road Research -- Analyst
More VEEV analysis
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The Motley Fool owns shares of and recommends Veeva Systems. The Motley Fool has adisclosure policy. || Shares of Cooper Tire & Rubber Plunge 12% on Earnings Miss: Shares of tire manufacturerCooper Tire & Rubber(NYSE: CTB)are down 12.2% as of 12:15 p.m. EDT today after the company reported first-quarter earnings results. Needless to say, they weren't what Wall Street was expecting.
Cooper checked with earnings per share of $0.16 for the first quarter compared to $0.57 per share this time last year. That $0.16 EPS result was also well below consensus Wall Street estimates of $0.57. Weak sales from high levels of replacement tire inventories across North America and increasing manufacturing costs were the biggest culprits of this quarter's weak performance.
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According to management, it expects these challenging market conditions to ease in the second half of the year as it scales back its unit production and lets these high levels of inventory draw down. Then again, this high level of inventory and weak pricing environment have been going on for several months now, so one has to be a little skeptical about predictions of this inventory reduction that management has been saying these challenging conditionswould ease several quarters ago.
With shares down 12% today and 37% over the past year, I don't doubt there are some people out there looking at this company as a value investment. It still has a healthy balance sheet, growing markets in truck and bus radial tires in China, and some strong brands in the aftermarket tire business. So there is certainly something there for investors. At the same time, though, this business has been slogging through a tough period of an oversupplied North American market for more than a year with no clear signs of it letting up despite what management says.
With all that in mind, it's hard to get excited about Cooper Tire & Rubber's stock today, but if management is right and the glut does start to clear in the second half, then it may be worth revisiting down the road.
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Tyler Crowehas 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. || Forget Bitcoin: You're Better Off Buying These 3 Stocks: Bitcoin prices have swung from $1,940 to $19,200 over the last year, only to crash back down again. Today, one bitcoin is worth $7,500. Some investors find these wild swings exhilarating and hope for more of the positive moves, but others can't stand these roller-coaster rides.
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Image source: Getty Images.
Ashraf Eassa(Apple):Instead of buying bitcoin, I'd much rather scoop up shares of Apple. It's one of the most successful technology companies in the world, thanks in large part to its iPhone product category, which made up more than 62% of its revenue last quarter.
Of course, while I think Apple is doing a good job of trying to diversify beyond the iPhone, particularly with its aggressive move into subscription services such as Apple Music, as well as the continued impressive growth of its App Store revenue, I like Apple's prospects ahead of the upcoming iPhone product cycle.
In particular, last year, Apple introduced three new iPhones -- two straightforward refreshes of its previous-generation models and one all-new device (with a huge price tag, to boot), the iPhone X. This year, if the rumor mill is correct, Apple will be bringing an entirely redesigned device at standard price points and will also be introducing a larger variant of its iPhone X.
Apple is poised to more aggressively compete at lower price points while also expanding its higher-end offerings, making its lineup far more compelling and opening up opportunities to gain highly profitable market segment share.
If my thesis plays out, Apple could see a solid boost in revenue and profit growth, which could ultimately send the stock higher. And, if I'm wrong, I don't think the stock would necessarily crater -- and the company still pays a decent dividend (the stock yields 1.52% as of this writing) as a consolation prize.
That, to me, seems like a far more sensible bet than buying bitcoin.
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Anders Bylundowns shares of IBM and a fraction of a bitcoin.Ashraf Eassahas no position in any of the stocks or cryptocurrencies mentioned.Chris Neigerhas no position in any of the stocks or cryptocurrencies mentioned. The Motley Fool owns shares of and recommends Apple and Square, but has no position in any cryptocurrencies at all. 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. || Tax Cuts Give Ford's First-Quarter Profit a Boost: Ford Motor Company (NYSE: F) reported net income of $1.7 billion for the first quarter of 2018, up 9% from a year ago , an increase more than explained by a lower effective tax rate, the company said. Ford's pre-tax result was down modestly on higher costs for key commodities and unfavorable exchange-rate movements. Ford's revenue increased 7.4% from a year ago, to $42 billion. During Ford's earnings presentation, CEO Jim Hackett announced that Ford has found $11.5 billion worth of "cost and efficiency opportunities" that should allow it to reach an 8% overall EBIT margin by 2020, two years earlier than it had previously expected. The company will also revamp its product line in North America, dropping all car models aside from the Mustang and a version of the Focus, to boost investments in more profitable truck and SUV models. A dark blue 2018 Ford Mustang fastback on a mountain road. Ford said that the Mustang was the world's top-selling sports coupe in 2017. The next-generation Mustang will be one of just two Ford-brand car models offered in North America. Image source: Ford Motor Company. The raw numbers Here are the key numbers from Ford's first-quarter 2018 results. Metric Q1 2018 Change vs. Q1 2017 Revenue $42.0 billion 7% Vehicles sold 1,662,000 (2.4)% Adjusted EBIT $2.2 billion (12)% Automotive EBIT margin 4.4% 1.6 ppts lower Net income $1.7 billion 0.1% Adjusted earnings per share $0.43 $0.03 improved Data source: Ford Motor Company. "EBIT" is earnings before interest and tax. "Adjusted" figures exclude the effects of one-time items. Ford took $23 million in one-time charges in the first quarter. "Vehicles sold" are wholesales and are rounded to the nearest thousand. "Ppts" = percentage points. How Ford's business units performed in the first quarter Here's a look at how each of Ford's business segments performed. Note that this is the first quarter in which Ford reported separate results for its mobility segment, a change it announced earlier this year . All financial results in this section are reported on an EBIT basis, except as noted. Story continues North America: Ford earned $1.9 billion in its home region in the first quarter, down from $2.1 billion a year ago. Its EBIT margin of 7.8% was down from 8.9% a year ago. Sales volumes, the "mix" of products sold, and net pricing were all positive year over year; the declines in EBIT and margin were more than explained by higher prices for commodities, particularly aluminum and steel. South America: Ford lost $149 million in South America in the first quarter, an improvement of $88 million from the year-ago period. CFO Bob Shanks said that Ford's sales volume, product mix, and pricing net of incentives were all strongly improved from a year ago, but higher commodity costs and high local inflation in key markets (particularly Argentina) offset more than half of those gains. Europe: Ford earned $119 million in Europe in the first quarter, down from $209 million a year ago. Ford saw dramatic improvements in net pricing from a year ago, driven by strong demand for the all-new Fiesta (a best-seller in Europe). But those gains were more than offset by lower sales volumes and unfavorable mix, as European buyers turned away from higher-profit diesel models, as well as unfavorable exchange-rate movements. Middle East and Africa: Ford lost $54 million in this region, an improvement of $21 million from a year ago. Net pricing and costs both improved, but sales were down (marketwide) in Saudi Arabia, a key market. Asia Pacific: Ford lost $119 million in Asia in the first quarter, versus a $148 million profit, a decline more than explained by lower sales volumes and higher spending in China. As part of a previously announced China restructuring effort , Ford is investing in expanded local production of several upcoming all-new vehicles, including the next-generation Explorer SUV and several Lincoln models. Ford earned $138 million in equity income from its China joint ventures, down from $274 million a year ago, on weaker sales and investments in future product. Mobility : Ford's mobility segment, which includes its autonomous-vehicle effort and its Smart Mobility initiatives, lost $102 million in the first quarter, versus a $64 million loss a year ago. That loss includes a one-time investment gain of $58 million for the Smart Mobility unit and a $53 million year-over-year increase in spending on autonomous vehicles. Ford Credit: The Blue Oval's captive-financing arm earned $641 million before taxes, up from $481 million a year ago. Nearly all metrics were positive: Credit quality remains good, losses remain modest, and auction prices for Ford's off-lease vehicles remain strong. Special items, debt, and liquidity Ford took one-time charges of $23 million in the first quarter, most related to its annual pension remeasurement, offset somewhat by $9 million in savings related to production of the next-generation Focus compact. As of March 31, Ford had $27.6 billion in cash available to its automotive business, and another $11 billion in available credit, for total liquidity of $38.6 billion. Against that, Ford had $16.4 billion of well-structured long-term automotive debt. Ford's unfunded pension liability totaled $6.1 billion as of March 31, down slightly from the end of 2017. Of that, $1.9 billion was related to its U.S. pension plans. Looking ahead: Ford's full-year guidance Ford's company-level guidance for 2018 hasn't changed since its presentation to investors in January . But Shanks did give additional guidance for full-year EBIT for each of Ford's individual business units and segments, as follows: Overall automotive will be flat to slightly lower from 2017 ($8.1 billion). Within that: Mobility's losses will rise from the roughly $300 million it lost in 2017, on increased investments in autonomous-vehicle development and Smart Mobility projects. Ford Credit's earnings before tax will be flat to slightly lower from 2017 ($2.3 billion) on an expected decline in auction values and thinner financing margins due to rising interest rates. The upshot, as Ford said in January: Modestly higher revenue in 2018 versus 2017, but lower adjusted earnings per share. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Rosevear owns shares of Ford. The Motley Fool recommends Ford. The Motley Fool has a disclosure policy . || Inside Intel's $60 Billion Personal Computer Opportunity: During an analyst day in early 2017, chip giant Intel (NASDAQ: INTC) talked about how it had dramatically grown its total addressable market, or TAM, by investing in and building products for markets beyond personal computer and server processors. Intel said that the company's traditional total addressable market, which consisted primarily of personal computer processors and server processors, was worth around $45 billion and its share within those markets was extremely high. At that investor meeting, Intel said that its new combined TAM would be worth about $220 billion by 2021. That TAM expansion was being driven not by any change in Intel's view of the opportunities in the personal computer market, but by the addition of new segments like non-volatile memory, mobile, and the Internet of Things. Intel has also broadened its horizons in the data center market from just server processors to a wider range of markets (e.g. network processors, memory modules, connectivity products, and more). The implication, though, from Intel's presentation at the time was that it viewed the personal computer market as a cash cow to, more or less, be milked for maximum profitability rather than as an area that could drive significant growth for the company. Intel's view, a year later, seems to have completely changed. Let's take a closer look. A woman looking at a laptop. Image source: Intel. Double the fun During Intel's most recent stockholder meeting, the company said that its opportunity in personal computers and adjacent products would be roughly $60 billion by the 2021 time frame, a doubling from its previous view of the opportunity in personal computers. That doubling came as Intel added the following opportunities to the mix: Intel Optane technology Home gateway Augmented/virtual reality Let's break down why Intel likely views these as significant and new opportunities. The Optane opportunity Intel counts Optane Technology as part of both its "PC and Adjacencies" TAM and its "Non-Volatile Memory" TAM, so it's not clear what Intel is counting in each segment. My assumption is that Intel counts typical solid-state drives under non-volatile memory, and it counts its Optane Memory technology as part of the opportunities in the "PC and Adjacencies." Story continues Optane Memory is a small storage drive that uses the company's fast 3D XPoint memory technology to accelerate the overall storage speed of a computer. The idea is that a system with Optane Memory and a large, traditional hard disk drive can deliver similar performance to a system with a NAND flash-based solid-state drive. It's not clear what the total opportunity is here, but for some perspective, a 16GB Optane Memory product costs $25, and a 32GB one can be had for around $60. Let's assume that Intel can achieve 15% penetration of Optane Memory in PCs over time and that 70% of those systems use the $25 configuration and the remaining 30% use the $60 configuration. Let's also assume that Intel gives significant volume discounts to major PC makers, putting the true cost of the smaller part at around $15 and the larger one at around $30. The total opportunity, assuming an overall personal computer market that's about 200 million units shipped annually, could be nearly $600 million to Intel. That's not huge, but an incremental $600 million in revenue from selling technology that's already being developed for other markets would be quite nice. That opportunity could be bigger if Intel can do better than the 15% attach rate assumption that I used. Home gateway Intel has been in the market for cable gateway processors for quite some time with its Puma line of processors. Intel doesn't talk about this business much nor has it really broken down how much revenue it generates and what kind of margin profile it delivers (the financial results are rolled into its larger Client Computing Group business, which mainly consists of personal computer processor revenue), but there are some third-party estimates out there. According to an early 2015 report from The Linley Group, Intel's wired communications chip business, following Intel's acquisition of DSL chipmaker Lantiq, "should generate about $1 billion in [communications integrated circuit] revenue." Although I don't doubt that this is a growth market for Intel to try to capitalize on, it's probably not large enough to really drive a significant portion of the TAM doubling that Intel is talking about. Augmented and virtual reality The final new opportunity that Intel cited is augmented and virtual reality technology. This is quite vague, but I think I can speculate a bit as to what Intel means here. Future augmented and virtual reality headsets are likely to come in multiple different forms. Some will be tethered to a personal computer (this applies more to virtual reality), while others will likely have the main computing components (e.g. processor, memory, storage) built right into the headset. I could see Intel following in the footsteps of Qualcomm , which recently announced its Snapdragon XR1 platform specifically for augmented and virtual reality headsets, in developing and selling chips designed specifically for non-tethered headsets. On top of that, though, I think Intel is thinking a lot about the opportunity in the market for tethered headsets. Intel, again, wouldn't sell such headsets, but the company might be betting on increased demand for high-performance computers powered by its chips to connect to those headsets. Additionally, Intel recently announced its intent to enter the market for discrete graphics processors. Intel might be counting the potential opportunity there under "augmented reality" and "virtual reality" because those stand-alone graphics processors would certainly help Intel's ability to profit from virtual reality-capable personal computers. More broadly, though, I think Intel grew its TAM estimate precisely because it intends to enter the market for stand-alone graphics processors, which is large and growing rapidly. My guess is that this is the single biggest contributor to the company's newly optimistic view of its opportunity in the personal computer market. The takeaway Ultimately, it looks like Intel has realized that even though the overall personal computer market could remain flat or even decline in the coming years, there are opportunities for the company to grow its dollar content share within each computer sold. What this likely means, then, is that the company will probably start boosting its investments here again as, internally, the company undergoes a mental shift from "the personal computer market is a cash cow to be milked" to "there's a lot of growth to be had within the personal computer market that we need to invest in to capitalize on the opportunities ahead." More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Ashraf Eassa has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || What Happened in the Stock Market Today: Fears of a trade war with China drove stocks lower today. The Dow Jones Industrial Average (DJINDICES: ^DJI) was down more than 400 points at one point but recovered a bit, and the S&P 500 (SNPINDEX: ^GSPC) fell as well. Today's stock market Index Percentage Change Point Change Dow (1.15%) (287.26) S&P 500 (0.40%) (11.18) Data source: Yahoo! Finance. Industrial stocks suffered the biggest losses, with the Industrial Select SPDR ETF (NYSEMKT: XLI) dropping 2.1%. Biotech shares had a good day, though; the iShares NASDAQ Biotechnology ETF (NASDAQ: IBB) rose 1.5%. As for individual stocks, Boeing (NYSE: BA) slumped due to trade concerns, and Sarepta Therapeutics (NASDAQ: SRPT) soared following positive trial results. Falling stock graph. Image source: Getty Images. Boeing loses altitude on trade fears Shares of Boeing fell 3.8% thanks to worries of an escalating trade war with China. Over the weekend, China announced additional tariffs on 659 U.S. products representing $50 billion of U.S. exports in retaliation for tariffs on Chinese goods that the Trump administration announced last week. The new duties of 25% will be imposed on 545 items amounting to $34 billion on July 6, and will include agricultural products, seafood, and vehicles. The tariffs on the remaining 114 items worth $16 billion in trade will be imposed at an unannounced later date, and will target chemical products, medical equipment, and energy products. Boeing investors may have felt some initial relief that aircraft were not on the list for the new tariffs, but President Trump stirred up concern about further retaliation when he asked administration officials to identify a new list of $200 billion in Chinese goods that could be hit in the next round of what appears to be an escalating trade war. Since China only imported about $130 million in goods from the U.S. in 2017, any American product could be a target in a Chinese response, and China represented almost 13% of Boeing's revenue last year. Story continues In an earlier round of tariffs announced in April, China put a levy on commercial aircraft that appeared to avoid hitting the bulk of Boeing's exports to that country by targeting smaller aircraft, and the markets shrugged it off. This week, though, investors are starting to worry that the escalating war of words may lead to significant damage to the company's business. Sarepta Therapeutics jumps on gene therapy success Sarepta Therapeutics, a commercial-stage biotech company specializing in precision genetic medicines for rare neuromuscular diseases, announced surprisingly strong results from a trial of a gene therapy for Duchenne muscular dystrophy (DMD), and the stock skyrocketed 36.8%. At the company's R&D Day, Dr. Jerry Mendell of Nationwide Children's Hospital presented results from the first three children in a early phase trial that demonstrated that a gene therapy approach could have dramatic effect on children with DMD. All patients showed significant decreases, averaging 87%, in levels of serum creatine kinase (CK), an enzyme associated with muscle damage that is present in high levels in people with the disease. Levels of dystrophin, a protein that supports muscle fiber strength, were increased. "I have been waiting my entire 49-year career to find a therapy that dramatically reduces CK levels and creates significant levels of dystrophin," said Dr. Mendell in the press release. "Although the data are early and preliminary, these results, if they persist and are confirmed in additional patients, will represent an unprecedented advancement in the treatment of DMD." Results from the study, which will eventually expand to 12 patients and was conducted through a partnership with the hospital under an exclusive license agreement, helped verify Sarepta's gene therapy approach to DMD. Sarepta's been on a roll recently , with one DMD drug launched and another drug in the works that had positive trial results last year. The company expects to submit the latter to the FDA for approval by the end of the year. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jim Crumly has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || 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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[Random Sample of Social Media Buzz (last 60 days)]
https://payera.io , #PERA #Payera #blockchain #cryptocurrency #shopera #cardera #tokensale #bitcoin #ethereumhttps://twitter.com/PAYERAio/status/1003987840433258497 … || Nexus price is: $2,49 or 0,00033549 BTC. || Price: $7,475.88
1h: -0.22%
24h: 4.52%
7d: -5.64%
Market Cap: $127,564,207,400.00
#Bitcoin #BTC || 2018-06-20_01-00-47 Forecast #BTC $BTC #Bitflyerpic.twitter.com/OkU3mebLRA || Sayın kralım bir yere kaydedin max 4 günü var :) $nano nun. yeterki $btc ters yapmasın. || Google’s Cryptocurrency Advertising Ban Potentially ‘Unethical’ Claim Experts https://ift.tt/2svfRM9 #news #cryptocurrencynews #bitcoin #cryptocurrencypic.twitter.com/WZKwoa8PD5 || EOSIO A Hacker Paradise: Tron, IOTA, EOS, Stellar Lumens and Litecoin Price Technical Analysis (June 4, 2018) http://about-bitcoin.com/eosio-a-hacker-paradise-tron-iota-eos-stellar-lumens-and-litecoin-price-technical-analysis-june-4-2018/ …pic.twitter.com/CtZQQENbDq || First Decentralized Private Communication Solution
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#CapitalTechnologiesResearch, #blockchain, #privacy, #security, #ethereum, #bitcoin https://twitter.com/capital_company/status/1002642144316870661 … || Die Entwickler von Bitpanda haben in den vergangenen Monaten hart gearbeitet, um die Kosten für Bitpanda-Nutzer so gering wie möglich zu halten. Die Integration zwei neuer Features, bietet ab sofort
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#bitpanda #bitcoin #kryptowaehrungen || New post (Bitcoin in Brief Tuesday: Exchange ETF Action and Wozniak Wants Bitcoin to Rule World) has been published on Cryptoslive is the premier 24/7 news feed covering everything cryptocurrencies related - https://www.cryptoslive.net/bitcoin-in-brief-tuesday-exchange-etf-action-and-wozniak-wants-bitcoin-to-rule-world/ …pic.twitter.com/4b3DigIDvD
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Trend: up || Prices: 6249.18, 6093.67, 6157.13, 5903.44, 6218.30, 6404.00, 6385.82, 6614.18, 6529.59, 6597.55
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Trading Internet earnings: 7 plays on mainstays: Facebook (NASDAQ: FB) reeled after earnings on Wednesday, but some CNBC "Fast Money" traders would be quick to scoop up the stock. The social media giant dropped 2 percent in extended trading after it reported first-quarter revenue that missed analysts' expectations. But as the company's monthly active users in March rose 13 percent year-over-year, to 1.44 billion, trader Brian Kelly would buy on the slide. "If you can't monetize that, then you really shouldn't be in any type of business whatsoever. So, on weakness, you buy Facebook," Kelly said. Read More Facebook user growth crushes estimates Trader Pete Najarian agreed that the stock has upside. "I think tomorrow morning, as the dust settles, we're going to start to see really what the direction of Facebook is going to be," he said. But trader Dan Nathan expressed more skepticism. He noted that user growth and ad revenue on mobile platforms may start to reach a saturation point. He said he preferred Google stock to Facebook. EBay (NASDAQ: EBAY) -another Internet name that reported on Wednesday-soared in extended trading. The company beat Wall Street's earnings and revenue expectations, driven by strong growth in its PayPal service. Read More EBay jumps after beating Street on profit, revenue The stock popped 5 percent in after-hours to roughly $60 per share. Trader Guy Adami believes eBay shares could "make the push to the next level." The company also said the previously announced split of eBay and PayPal into separate publicly traded companies would take place in the third quarter. Nathan noted that he would look to take a long position in an independent PayPal and short eBay, as its core marketplace segment fell off 4 percent year-over-year. Disclosures: Pete Najarian Pete Najarian is long AMAT, AAPL, BABA, BAC, BMY, BP, CSX, DISCA, FOXA, GE, KKR, KO, LLY, LOCO, MBLY, MRK, PEP and PFE. He is long calls AAPL, BK, DAL, EBAY, EEM, F, FB, FL, GE, GS, HZNP, IMAX, JBLU, KO, MAC, MYL, NEE, NTAP, OC, PBR, PFE, RAD, SYY, TEVA, TSX, UA, UAL, VZ, XLF, XOM and ZIOP. Today, he bought IMAX calls. Today, he bought EBAY calls. Today, he sold AMGN calls. Today, he bought AAPL calls. Today, he bought FB calls. Dan Nathan Dan Nathan is long BBRY June call spread, EBay May/July call spread, IWM May put fly, KO April 24th call fly, LULU May puts, M May call spread, NKE call spread, QQQ May 108/ 98 put spread, SHAK, T, TWTR, WMT June call spread, XLP May put spread and XLY May puts. Today, he bought EBay May/July call spread. Story continues Brian Kelly Brian Kelly is long BTC=, CTRL calls, GSG, BBRY, SPY puts and U.S. dollar. He is short 30-year bond futures. He is short Australian dollar. He is short yen. He is short yuan. Guy Adami Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance View comments || Despite Warnings About A Grexit, Investors Remain Calm: With Greece and its EU creditors still trying to work out the details of an agreement to release the nation's bailout funds just days before Athens is due to make loan repayments, policymakers in other parts of the world are beginning to worry that a Greek exit from the eurozone is becoming a real possibility. However, warnings from the U.S. and Canada have done little to upset investors, who appear to firmly believe that the two sides will reach a deal in the 11th hour. Concern Abroad On Wednesday, US Treasury Chief Jacob Lew warned EU lawmakers that a Greek exit from the currency union would be devastating to global financial markets. Lew appeared worried that European policy makers were complacent now that stability has returned to the region, and he cautioned that a crisis in Greece would almost certainly upset the balance in the region. Related Link: Will Spain Become The Next Greece? Canadian Finance Minister Joe Oliver reiterated Lew's remarks, saying that Greece may be small, but the ripple effect of a Greek crisis would be massive. Lew and Oliver are heading to a Group of Seven meeting in Germany on Thursday, where Greek financial troubles will undoubtedly be a part of the discussion. Investors Believe Resolution Is In Sight Despite the tension surrounding Greek debt talks, investors have kept their calm. A Sentix survey of 1,000 investors showed that only 41 percent believe a Grexit is imminent. That figure, though still high, marks a decline from the 49 percent who saw Greece leaving the euro in April. Although the debt talks have dragged on longer than anticipated, rhetoric from both sides suggest that there is a commitment to keeping Greece inside the eurozone, which has given investors confidence that the deal will be completed before Athens defaults. Image Credit: Public Domain See more from Benzinga Should The UK Regulate Bitcoin Wallets? Federal Government Reminds Workers That Marijuana Is Still Off Limits Entrepreneurs Got Their Groove Back In 2014 © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || 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 || Could Bitcoin Save Athens?: After the International Monetary Fund turned its back on debt negotiations with Greece on Thursday, many began to worry that the nation's efforts to appease creditors while reversing austerity cuts would prove to be fruitless.
With a €1.5 billion payment due at the end of this month, Greece is running out of time to release the bailout funding it needs to stay afloat.
Digital Currency To The Rescue?
Greek Finance Minister Yanis Varoufakis jokinglytweetedthat the nation would adopt bitcoin if no deal was made on April Fool's day; but two-and-a-half months later with no agreement made, some analysts say thata cryptocurrency could be a viable solution.
Digi-Drachma
Some believe that Greece could create a digital currency backed by the nation's assets which would be used to maintain public sector salaries and pensions. The currency, dubbed "digi-drachma" would free up the nation's remaining euros for loan repayments and allow Athens to continue functioning without making any more unpopular austerity cuts.
Related Link:Greek Banks Struggle To Handle Deposit Outflows With Default Fears Rising
ECB Considers The Possibility
During debt negotiations, the European Central Bank considered a similar situation in which the nation paid its workers using IOUs. This idea was parallel to the one Varoufakis outlined in his April Fool's blog post; he said a digital currency, called FT coin, could be based on future tax revenue.
Just A Band-Aid?
The digital currency scenario might get Athens through its next loan repayment, but many say it would be a temporary fix for the nation's larger problem— debt. Greece's economy has been unable to sustain the nation's massive debt, so without some kind of reform, this problem is likely to repeat itself.
This has been the issue at the center of the nation's bailout talks as eurozone creditors want to see Greece stand on its own rather than leaning on bailout money in the years to come.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || A bitcoin start-up has made exchanging currency free: A bitcoin (:BTC=) start-up has launched a service that will allow people to carry out foreign exchange transactions for free, dodging the expensive commission often charged by major financial institutions. Bitreserve, a company founded last year by CNET and salesforce.com co-founder Halsey Minor, allows people to convert bitcoin into normal currencies and precious metals. The start-up used to charge a 0.45 percent commission for bitcoin-to-dollar transactions, but has now cut its fees entirely. The move is likely to give it an edge in the hotly contested "fintech" market where a number of companies such as U.K.-based Transferwise are contesting the currency transfer and mobile payments space. Users of the platform will be able to make currency exchanges in eight major currencies: euros, dollars, pounds, yuan, yen, pesos, rupees, swiss francs. People will also have the ability to convert the currencies into gold, silver, platinum and palladium, depending on the market price. Bitreserve offers the mid-market rate for currencies. "Those in society who can least afford it have to spend so much for things that are so commonplace," Anthony Watson, president and chief operating officer of Bitreserve, told CNBC by phone. "If you look at a Mexican immigrants, they send approximately $30 billion home every year and they pay just under $3 billion for the privilege of sending that money home. That is 10 percent and that is disgusting." Bitreserve's service comes with a catch however - you have to own bitcoin to use the service in order to make an initial deposit and then convert it to another asset. Plus, when users receive money, they can only spend it in bitcoin. This could put it at a disadvantage to other companies that allow people to sign up with bank accounts and send money for still a small commission. One use case of such a technology is remittances, which reached $436 billion in 2014, according to the World Bank. Since its inception in October 2014, Bitrserve has been responsible for $14.5 million worth of transactions globally, according to its website. Story continues But not all experts agree that a free model is sustainable in the currency exchange business. "No business that offers its services for free can do so sustainably over a long period of time without other revenue sources," Stan Stalnaker, board member of the Digital Asset Transfer Authority, a self-regulating body for digital currencies, told CNBC by email. Read More This is why bitcoin won't go away anytime soon "The real question, in an age of free transactions, is about business models - what other products and services can Bitreserve launch that it will charge for, and how successful will that be on the back of very low cost remittances?" Watson said the company was looking to partner with traditional financial institutions to allow people to move the money into traditional bank accounts, as well as retailers so people can buy items using regular currencies. "We are in conversation across the world with not only banks but different financial services providers. We are talking to a myriad of companies. We don't see ourselves as a threat to banks we see ourselves as complimenting what they do," Watson, the former Nike CIO, said. Another use of Bitreserve's technology is to store bitcoin in a stable currency like the U.S. dollar. "A lot of people are putting money on reserve and moving it into currency and moving bitcoin into a stable form of currency. Bticoin bounces around like a jack rabbit," Watson added. A number of companies such as Coincove and ArtaBit are offering similar services, but only allowing people to send bitcoin to converted to one currency. More From CNBC CNBC.com News Page CNBC.com Blogs Page CNBC.com Earnings Central || XBT Provider Launches World's First Bitcoin Exchange Traded Note on Nasdaq Stockholm: Stockholm, SWEDEN (April 28, 2014) - XBT Provider AB (publ) announced today the authorization of Bitcoin Tracker One, the first bitcoin-based security available on a regulated exchange. XBT Provider is launching this financial instrument to meet the needs of investors` growing appetite for exposure to Bitcoin prices.
Alexander Marsh, Chief Executive Officer of XBT Provider, says:"We are proud to offer the world`s first "Bitcoin tracker" to be traded on a regulated exchange. By enabling this easy and secure way to invest in Bitcoin we hope to have eliminated the boundaries that earlier prevented individuals and companies from being able to actively invest in what we believe to be the future of money."
Bitcoin Tracker One is designed to provide investors with convenient access to the returns of the underlying asset, U.S. dollar (USD) per bitcoin, less investor fees. Bitcoin Tracker One is authorized by Sweden`s financial supervisory authority, Finansinspektionen, and will be admitted to trading on Nasdaq Stockholm. The first day of trading is expected to be May 18th, 2015.
Staffan Helgesson, General Partner at Creandum and Board Member of XBT Provider, says:"These are exciting times for the bitcoin ecosystem. Bitcoin Tracker One will be the world`s first financial instrument that provides consumers and institutions the possibility to invest in bitcoins without holding coins themselves"
The full prospectus is available onxbtprovider.com
ABOUT THE ISSUER: 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 Stockholm the company assists XBT Provider with clearing services and acts as a liquidity provider for Bitcoin Tracker One.
FOR FURTHER INFORMATION, PLEASE CONTACT
Alexander MarshPhone: +46 733 325 643E-mail:[email protected]
Johan WattenströmPhone: +46 723 015 656E-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#1916185 || Conexus Acquires a Majority Interest in Bitcoin Direct LLC: NEW YORK, NY--(Marketwired - May 19, 2015) - Conexus Cattle Corp. ( OTC PINK : CNXS ) announced today the acquisition of a 51% membership interest in Bitcoin Direct LLC, Nevada limited liability company ("Bitcoin" or the "Company"), which provides bitcoin transaction solutions for consumers in what we believe is a rapidly expanding industry, still in its infancy. Bitcoin's initial focus is aimed at installing and servicing its ABMs (Automated Bitcoin Machines) in multiple locations. The ABMs provide consumers with the ability to instantaneously purchase bitcoins through their mobile devices. Currently, the Company has installations serving the major metropolitan centers of New York City and Montreal. The Company anticipates rapidly expanding its network of Company owned ABMs in the coming months. In addition to operating its own bitcoin ABMs, the Company also anticipates partnering with local operators to create an integrated bitcoin distribution network in high traffic locations across North America. The Company, through its relationships with leading bitcoin miners, plans to supply bitcoins, as well as provide ABM equipment to these local operators. Bitcoin plans to offer a full range of bitcoin transaction solutions to a wide variety of industries, including remittance and gaming, among others. Under the terms of the transaction, Conexus, Bitcoin, and all of the members of Bitcoin, entered into a Securities Exchange Agreement, pursuant to which Conexus acquired memberships interests representing 51% of Bitcoin in exchange for 500 shares of the Conexus's Series H Preferred, with an aggregate stated value equal to $500,000 (the "Exchange Agreement"). In accordance with the terms of the Exchange Agreement, Conexus agreed to provide a working capital facility to Bitcoin in an amount up to $300,000 to be utilized by Bitcoin as needed, and to be repaid by Bitcoin from working capital generated from Bitcoin's operations. In addition, the Exchange Agreement provides an option to the members of Bitcoin for a period of five years to repurchase from the Conexus 10% of the Bitcoin membership interests held by Conexus for $250,000. Additional details of the transaction are included in the Conexus' Current Report on Form 8-K filed today with the U.S. Securities and Exchange Commission. Story continues Conrad Huss, President of Conexus, commented, "We are excited to have acquired the majority interest in Bitcoin Direct LLC, along with its experienced management team. Our strategy is to provide sound, profitable, bitcoin transaction solutions to consumers, and to assist a variety of industries as they grow their markets. The Company is ready to help pioneer and promote the consumer adoption of bitcoin through automated solutions across North America." About Bitcoin Direct LLC Bitcoin Direct LLC provides bitcoin transaction solutions for consumers. Bitcoin's initial focus is aimed at installing and servicing its ABMs (Automated Bitcoin Machines) in multiple locations. The ABMs provide consumers with the ability to instantaneously purchase bitcoins through their mobile devices. Currently, the Company has installations serving the major metropolitan centers of New York City and Montreal. Safe Harbor This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. The forward-looking statements contained in this press release include statements regarding the elimination of debt positioning the Company for growth and the vote of confidence in the growth plans. All forward-looking statements in this press release are made as of the date of this press release, and the Company assumes no obligation to update these forward-looking statements other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements and include the Company's ability to complete its intended growth plans in a timely manner and the other factors discussed in Current Reports on Form 8-K. Copies of these filings are available at www.sec.gov || ItBit Became The First Cryptocurrency Exchange To Receive A Banking License: The New York State Department of Financial Services (NYDFS) decided to grant bitcoin exchange itBit a banking trust charter this week, marking a major step forward for the cryptocurrency.
On Thursday the company announced its plans to sign up US customers following the decision, though the company's final license isn't expected until the end of May.
A Big Leg Up
The charter gives itBit a leg up against other bitcoin exchanges working to operate across the US as it gives the company a bank-like status which makes itBit responsible for consumer funds without the need of a third party bank.
NYDFS Superintendent Benjamin Lawsky has been working to create new regulations for the bitcoin industry as it continues growing.
He spearheaded a push to create a BitLicense, which could become a reality by this summer. However itBit instead applied for a trust company charter, which is believed to have even stricter rules than a BitLicense would.
Certified Safe
ItBit is the first New York-based trust company to be created since the financial crisis and the extensive work involved in applying for the charter has taken the company more than a year to complete.
The NYDFS looked into the company's consumer protection practices, cybersecurity standards and anti-money laundering safeguards before granting the license.
High Standards
ItBit CEO Chad Cascarilla toldCNBCthat the license will allow the company operate in all 50 states and give customers a safe, secure bitcoin experience.
Cascarilla said itBit's status as a trust company will give them a leg up against competitors as it will improve the company's standards of care to a level "that's totally different from where any one is currently."
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The 21st Century Cures Act Gets A Mixed Reception: Last week, the House Energy and Commerce Committee unanimously passed the 21st Century Cures Act, a new bill that will help fund medical research and relax regulations related to the discovery, development and delivery of new drugs. While some consider the new bill as a major step forward for the industry where the cost of developing new drugs has skyrocketed, others say the bill puts the public in danger as it doesn't require the meticulous testing that has been necessary in the past. Funding Change The bill offers incentives for scientists working on drugs that are important to the industry as a whole. The act dedicates government dollars to researchers working to develop precision medicine drugs and antibiotics that combat resistant strains. The legislation also supports the creation of a massive genomic database that will use large volumes of genetic data in order to help in the push toward developing precision drugs that target a specific gene. Related Link: Bio Applauds Approval Of 21st Century Cures Act Safety Questions Public safety groups have questioned the safety of such a bill, saying that allowing drugs to be approved by the Food and Drug Administration without full clinical testing creates a risk for patients. If passed, the bill would allow high-risk medical devices like pacemakers to gain approval without a full clinical study, something many say could create a dangerous precedent. Biotechs On Board? Biotech companies initially saw the bill as good for the industry as an initial draft extended market exclusivity rules for new drugs. However, those offers were dropped in the final version of the bill, leaving the biotech industry with little reason to back the bill. The Energy and Commerce Committee recently requested financial support for the bill from the Biotechnology Industry Organization, something the group is unlikely to offer without any benefits. Image Credit: Public Domain See more from Benzinga Despite Warnings About A Grexit, Investors Remain Calm Should The UK Regulate Bitcoin Wallets? Federal Government Reminds Workers That Marijuana Is Still Off Limits © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || New York sets rules for running Bitcoin exchange businesses: Pixelated Bitcoin symbol made from cubes, mosaic pattern New York has finally issued an official set of rules for businesses that deal with Bitcoins. If you recall, New York Superintendent of Financial Services Benjamin M. Lawsky and his team have been writing and rewriting those regulations for the past two years, taking criticisms into account. Lawsky has announced the final list during a recent speech at the BITS Emerging Payments Forum in Washington, weeks before he steps down from his position. These rules require businesses to apply for a "BitLicense" from the Department of Financial Services if they want to operate in the Big Apple. The final version clarifies that only companies that offer financial services, such as money exchanges, are required to take out applications, though. Software developers, individuals and retailers can accept cryptocurrency payments without having to go through the process. The rules also state that businesses won't have to report every software update (unless it will significantly change their product/service) or to apply for BitLicense, if they already have a traditional money transmitter license. From the start, Lawsky maintained that the state wants to regulate Bitcoin-based businesses in order to avoid money laundering schemes and the like. "We simply want to make sure that we put in place guardrails that protect consumers and root out illicit activity -- without stifling beneficial innovation," he said during his speech. While some entrepreneurs welcome the regulatory framework, as it will prove to customers that their businesses are legit, not everyone's happy with the the final list. Jerry Brito, executive director of Bitcoin advocacy group Coin Center, told The Wall Street Journal that the BitLicense program creates "an unprecedented new state-level money laundering requirement." He believes it's discriminatory, as New York banks and regular money transmitters don't have to follow a similar set of rules. His unhappiness is shared by a lot of people in the Bitcoin community, who are dismayed that Lawsky failed to address their concerns. New York is the first state to heavily regulate Bitcoin exchanges, but other states might follow if the BitLicense turns out to be a success. If you want to know just how stringent New York's rules are, check out this full set of regulations released by Lawsky's department. [Image credit: Getty/TimArbaev]
[Random Sample of Social Media Buzz (last 60 days)]
current #bitcoin price (winkdex) is $224.9, last changed Mon, 20 Apr 2015 15:05:00 GMT. queried at: 15:07:45 || Current price: 212.88€ $BTCEUR $btc #bitcoin 2015-04-16 07:00:05 CEST || $235.59 at 05:15 UTC [24h Range: $225.01 - $240.00 Volume: 12267 BTC] || Current price: 225.39$ $BTCUSD $btc #bitcoin 2015-04-30 00:00:03 EDT || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000004
Bittrex: 0.00000004
Average $9.0E-6 per #reddcoin
13:00:01 || current #bitcoin price (bitfinex) is $225.45, last changed Thu, 30 Apr 2015 00:07:55 GMT. queried at: 00:08:04 || buysellbitco.in #bitcoin price in INR, Buy : 15100.00 INR Sell : 14632.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || Bitcoin traded at $234.61 USD on BTC-e at 11:00 PM Pacific Time || In the last 10 mins, there were arb opps spanning 22 exchange pair(s), yielding profits ranging between $0.00 and $1,283.97 #bitcoin #btc || Current price: 213.64€ $BTCEUR $btc #bitcoin 2015-05-02 22:00:05 CEST
|
Trend: up || Prices: 236.82, 250.90, 249.28, 249.01, 244.61, 245.21, 243.94, 246.99, 244.30, 240.51
|
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]
Not fully available.
[Random Sample of News (last 60 days)]
Philippines’ Central Bank Will Continue to Closely Monitor Crypto, Citing Terror Financing: The governor of the Philippines’ central bank , Benjamin Diokno, has warned against the potential use of cryptocurrencies for terrorism financing and underscored that the Bangko Sentral ng Pilipinas (BSP) will continue to closely monitor their use in the country. The news was reported by local English language newspaper The Philippine Star on June 10. In addition to Diokno’s remarks, BSP Deputy Governor Diwa Guinigundo reportedly provided further insights into the institution’s stance toward cryptocurrencies during the launch of an unnamed book about bitcoin (BTC). Diokno ostensibly criticized bitcoin’s potential to function as a unit of account, medium of exchange and store of value, claiming that the top cryptocurrency’s volatility inhibits its usefulness on all three points. The governor reportedly recognized that blockchain and certain implementations of distributed ledger technologies can be useful for payments and settlements for peer-to-peer transactions, presenting this as a potential risk to the traditional banking sector: “Game theory dictates possible dysfunction when there is market breakdown, when everyone may distrust one another. There cannot be a total disregard for a central bank or a third party that provides lender of last resort facility.” Guinigundo said the central bank would approach fintech development using regulatory sandboxes in order to balance the prospective benefits of innovative financial technologies with robust consumer and investor protection. The Philippine Star cites fresh data from BSP’s Technology Risk and Innovation Supervision Department, which has reportedly revealed that the value of cryptocurrency transactions almost doubled in 2018 — hitting $390.37 million as compared with $189.18 million in 2017. The data breakdown indicated that conversion from fiat currencies into cryptocurrencies accounted for $208.27 million, crypto-fiat conversion for $173.33 million, and crypto-enabled international incoming remittances for $8.77 million. Story continues In February of this year, the Philippines introduced a new set of rules governing the issuance and acquisition of utility and security tokens . BSP has required domestic crypto exchanges to register as remittance and transfer companies and implement specific safeguards — covering AML , CFT, risk management and consumer protection — since February 2017. Earlier this month, BitMEX Ventures invested in a crypto exchange officially licensed by BSP, and in April, payment services firm Bitspark revealed plans to release a cryptocurrency pegged to the Philippines’ national fiat currency, the peso. Related Articles: Major Pan-African Insurance Firm Rolls Back Insurance for Crypto Mining Equipment Traditional Exchanges Pull Back From Reg A+ IPOs Due to Fraud Concerns Crypto Advocacy Center Says Proposed UK AML Regulations Violate Privacy Rights G20 Finance Leaders Ask Global Regulators to Consider Multilateral Response to Crypto || The Crypto Daily – The Movers and Shakers 26/06/19: Bitcoin rallied by 6.03% on Tuesday. Following on from a 1.47% gain from Monday, Bitcoin ended the day at $11,737.00.
A bullish start to the day saw Bitcoin rise from a morning low $11,028.0 to a high $11,519.0.
Bitcoin broke through the first major resistance level at $11,283.33 and second major resistance level at $11,497.67.
A late morning sell-off saw Bitcoin slide to an intraday low $10,802.0 before finding support.
Steering clear of the first major support level at $10,707.33, Bitcoin rallied to a late intraday high and new swing hi $11,780.
Bitcoin broke back through the first major resistance level at $11,283.33 and second major resistance level at $11,497.67.
Across the rest of the top 10 cryptos, it was a mixed bag for the rest of the pack.
Joining Bitcoin in the green on the day were Ethereum and Litecoin, with gains of 1.8% and 0.13% respectively.
It was red for the rest of the top 10. Leading the way down were Binance Coin and Stellar’s Lumen. The pair fell by 4.4% and 3.5% respectively.
EOS and Ripple’s XRP fell by 1.87% and 1.81%, while Bitcoin Cash ABC and Bitcoin Cash SV fell by just 0.63% and 0.17% respectively.
The moves through Tuesday sawBitcoin’s dominancebreak through to 60% levels for the first time since April 2017.
Bitcoin also drove the total crypto market cap to $336.68bn on the day, up from $330.43bn on Monday.
In spite of the Bitcoin rally, 24-hour trading volumes held relatively steady, rising from $70.15bn to $71.9bn levels on the day.
At the time of writing, Bitcoin was up by 6.1% to $12,453.0. A particularly bullish start to the day saw Bitcoin rally from a morning low $11,684.5 to a high $12,945.0.
The early morning rally saw Bitcoin break through the first major resistance level at $12,077.33 and second resistance level at $12,417.67.
From the rest of the top 10, Litecoin and EOS struggled through the morning. At the time of writing, the pair were down by 1% and by 0.12% respectively.
It was bullish for the rest of the pack. Coming in a distant second behind Bitcoin was Ethereum, which was up by 3.74%. Stellar’s Lumen also found support, rising by 2.2%, with Binance Coin up by 1.22%.
The broad-based crypto rally added $25bn to the total market cap, with the market cap sitting at $361.25bn. Trading volumes were also up from $72bn levels to $94bn levels.
Bitcoin would need to hold above the second major resistance level at $12,417.67 to support another run at $13,000 levels.
While we can expect Bitcoin to face plenty of resistance at $13,000 levels, Bitcoin could take a run at the third major resistance level at $13,395.67.
Bitcoin would need support from the broader market, however, to break out from the morning high $12,945.0.
Failure to hold above the second major resistance level at $12,417.67 could see Bitcoin give up some of the morning gains.
A pullback through to $12,300 levels could see Bitcoin fall back through the first major resistance level at $12,077.33.
Barring a broad-based crypto sell-off, Bitcoin should avoid a return to sub-$12,000 levels on the day.
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Thisarticlewas originally posted on FX Empire
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• European Equities: It’s the Eve of the G20 Summit… || Crypto Down; G20 Calls for Continuous Monitoring: Investing.com - The crypto market traded in the red on Monday morning in Asia with the total market cap down to $245.6 billion.
Bitcoin dropped 2.90% to $7,620.9 by 11:25 PM ET (03:25 AM GMT). The coin has been too weak to climb back to the $8,000 level since a drop last week. Now it hovers around the $7,600 range.
Similarly, Ethereum lost 3.07% to $232.75, XRP shed 4.72% to $0.3852, and Litecoin was down 0.91% to $115.52.
Regulations on cryptocurrencies seem to gathering steam worldwide.
On June 9, G20 finance ministers and central bank governors asked the Financial Stability Board (FSB) and global standard-setting organizations to monitor risks arising from cryptocurrencies.
“We welcome the FSB’s directory of crypto-asset regulators, and its report on work underway, regulatory approaches and potential gaps relating to crypto-assets. We ask the FSB and standard setting bodies to monitor risks and consider work on additional multilateral responses as needed,” the financer ministers said in a note.
The regulators said crypto assets do not pose a threat to global financial stability at this moment, but they shall remain vigilant to risks related to consumer and investor protection, anti-money laundering and countering the financing of terrorism.
Last Friday, the mayor of Vancouver Kennedy Stewart suggested a ban on Bitcoin ATMs due to money laundering risks. The move came after reports that eight people were arrested in Spain for laundering money by exchanging fiat currency to crypto assets.
Indian regulators have also proposed to jail those who get involved in crypto dealings for 10 years or those who mine, hold, buy and sell digital coins.
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G20 Finance Leaders Ask Global Regulators to Consider Multilateral Response to Crypto || TrustToken Partners With Binance to Enable In-Exchange TUSD Minting and Redeeming: TrustToken, the stablecoin operator behind usd-pegged token trueusd ( TUSD ), announced a partnership with major cryptocurrency exchange Binance in a press release shared with Cointelegraph on June 4. Per the release , as a result of the partnership, Binance users now will be able to buy TUSD for zero fees and redeem it for fiat currency . A TrustToken representative told Cointelegraph in an email that they are bringing a direct fiat-to-crypto onramp/offramp to Binance to users following registration in their app. The spokesperson further noted that Binance also listed the paxos standard ( PAX ) stablecoin. The spokesperson also claims that at this time only TrueUSD is technologically capable of allowing users to purchase and redeem directly from their exchange wallets once they've registered in our app. In May, Paxos announced that its users can now instantaneously redeem unlimited amounts of its tokens for United States dollars . Furthermore, TrustToken co-founder and CEO Jai An promised that the firm will be rolling out many more solutions to easily purchase and redeem TrueUSD. Binance CEO Changpeng Zhao commented on the development: Were excited to be working with TrustToken to make purchasing and redeeming stablecoins both easy and secure. As Cointelegraph reported in April, TrustToken will release four new stablecoins this year that are pegged to Australian dollars, euros, Canadian dollars and Hong Kong dollars. Yesterday, Binances chief financial officer told Bloomberg that the exchange will reportedly issue its own stablecoins within two months. Earlier this week, Binance reportedly revealed that they would be testing a British pound-backed stablecoin. Related Articles: Binance to Reportedly Introduce Its Own Stablecoins Within Two Months Fake News Circulating in China Suggested to Be Responsible for Bitcoin SV Price Surge Research: China Leads World in Tether Trading Volumes in 2019 Binance Cryptocurrency Exchange Testing British Pound Stablecoin || Bitcoin SV (BSV) Price Spikes Another 19% But Nobody Knows Why: Bitcoin SV is making gains again going into the new month. | Source: Shutterstock By CCN : Price of Bitcoin SV (BSV) is climbing higher despite carrying the most unfavourable fundamentals on its shoulders. The BSV-to-dollar exchange rate today rose 19-percent and established a fresh intraday high at $194.90 on Huobi. That took the pairs net 23-day rise to more than 260-percent, adjusting its year-to-date gains to more than 160-percent on the whole. The past 24 hours alone witnessed BSV posting 11.57-percent gains against the US dollar. At the same time, the digital asset appreciated by more than 13-percent against bitcoin, its main rival, as the latter underwent a downside correction. Meanwhile, the cryptocurrencys market capitalization rose by another $41 million; it is now sitting at $3.751 billion. bitcoin sv, bsv price BITCOIN SV (BSV) keeps mooning despite unfavorable sentiments | Source: COINMARKETCAP.COM The 24-hour adjusted timeline also recorded $844 million worth of volume in Bitcoin SV-enabled markets. South Korean cryptocurrency exchange noted the digital asset exchanging considerable hands from/to South Korean Won the local fiat currency. Nevertheless, it was the Tethers stablecoin USDT that appeared to have got dumped the most for Bitcoin SV, after posting around 49-percent of the net BSV daily volume. Shady as Ever Nobody knows what has pumped the Bitcoin SV price valuation by more than $2.5 billion since May 20. The first of the firsts upside break appeared in the wake of a fake hype. Dr. Craig S Wright, the founder of Bitcoin SV project, and who has been continuously contesting that he is the man behind the pseudonymous identity Satoshi Nakamoto, the original creator of the Bitcoin protocol, earned a US copyright claim over the bitcoin whitepaper. Calvin Ayre, the founder of Bitcoin SV mouthpiece CoinGeek, projected the event as proof that Dr. Wright is Satoshi. The BSV-to-dollar exchange rate surged more than 118-percent on the day. Nevertheless, a press release issued by the US Copyrights Office later clarified that they did not verify Dr. Wrights claim. Read the full story on CCN.com . || Bitcoin Dips, Supported Near 2019 Highs: Investing.com - Prices of most of the top cryptocurrencies dipped on Wednesday morning in Asia, with XRP the only exception. Bitcoin slid 1.21% to $8,661.9 by 11:46 PM ET (02:46 AM GMT), still not far from the high of $8,902.8 reached on Monday, its strongest level since May 2018. After tumbling from record highs close to $20,000 reached in December 2017 the digital currency spent most of the first quarter of 2019 hovering below the $4,000 level before regaining momentum early last month. Bitcoin’s gains have come against a background of a broad rally in riskier assets this year, amid signs of looser monetary policy from the Federal Reserve and the European Central Bank. Its latest leg up has come as increasing questions have been raised about the stability of Chinese yuan, which is under pressure from U.S. trade measures that are slowing the economy down. The rally has seen total crypto market cap increase to around $272 billion, of which Bitcoin accounts for around $154 billion. Ethereum dropped 0.62% to $268.98 and Litecoin lost 2.19% to $113.25. XRP gained 2.46% to $0.44107. The recent uptick in Bitcoin’s price promoted South Korea to hold a pan-governmental meeting aimed at closely monitoring the country’s cryptocurrency market. As Bitcoin tested $9,000 this week, local officials deemed the surge as a sign of a possibly overheating market. Related Articles Rakuten Wallet Partners With CipherTrace to Assure Safety of Its Upcoming Crypto Exchange Tether (USDT) Brings Record Supply to the Markets; Is $10k BTC on the Horizon? Block Adventure Fintech Series Debuts in London This Week || The Crypto Daily – The Movers and Shakers 24/05/19: Bitcoin gained 3.31% on Thursday. Reversing a 3.93% slide from Wednesday, Bitcoin ended the day at $7,436.4.
A relatively bearish morning saw Bitcoin slide from a morning high $7,701.6 to a late morning intraday low $7,436.4.
Falling well short of the major resistance levels, Bitcoin came within range of the first major support level at $7,400.03.
Finding support through the afternoon, Bitcoin rallied to a late intraday high $7,957.3 before easing back to $7,800 levels.
The first major resistance level at $7,939.93 prevented Bitcoin from breaking through to $8,000 levels for the first time since 12thMay.
Across the rest of the top 10 cryptos, it was a sea of green across the board.
Leading the pack on the day was Bitcoin Cash ABC that bounced back from $360 levels to end the day with a 5.34% gain.
Cardano’s ADA came in a distant second, rising by 4.12%.
For the current week, bucking the trend across the top 10 was Binance Coin, which was up 7.91% Monday through Thursday.
The rest of the pack were in the red, with Stellar’s Lumen leading the way, down by 12.8%.
With the start of the week reversal, Thursday’s afternoon broad-based crypto rebound reduced the deficit for the week.
A negative bias remains going into the weekend, with a crypto weekend rally of old needed to reverse the deficit.
Looking across at the trading volumes, 24-hour volumes fell just short of $80bn levels in yesterday’s rebound before easing back to $72bn levels this morning.
At the time of writing, Bitcoin was down by 0.76% to $7,812. A relatively range-bound start to the day saw Bitcoin fall from an early morning high $7,938 to a low $7,784.5.
Bitcoin’s moves within the tight ranges left the major support and resistance levels untested, with $8,000 proving to be a challenge for the bulls.
Elsewhere, Bitcoin Cash ABC led the way down amongst the top 10, falling by 2.61% early in the day.
Binance Coin was once again bucking the trend early. Binance Coin was up by 0.29% while the rest of the pack was in the red.
Bitcoin would need to hold above $7,750 through the morning to support another run at $8,000 levels.
Sentiment across the broader market would need to materially improve, however, for Bitcoin to take a run at the first major resistance level at $8,074.
Barring a broad-based crypto rally, the Bitcoin bulls may have to wait until the weekend to look to claw back some of the current week’s losses.
Failure to hold above $7,750 could see Bitcoin slide back through to $7,500 levels before any recovery.
Barring a crypto meltdown, the first major support level at $7,553.1 would likely limit the downside on the day.
In the event of a meltdown, the second major support level at $7,234.3 could come into play.
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• The Crypto Daily – The Movers and Shakers 24/05/19 || Bitmain Crypto-Billionaire Launches New Startup as Bitcoin Rises: (Bloomberg) -- Bitmain Technologies Ltd. co-founder Wu Jihan has marshaled a group of the mining giant’s former employees to launch a new cryptocurrency financial services startup, hoping to capitalize on Bitcoin’s resurgence.
Called Matrixport, Wu’s latest endeavor is a one-stop platform for over-the-counter trading, lending and custody for digital assets, Chief Executive Officer Ge Yuesheng said. The venture went live on Monday after spinning off from Bitmain in January, when the world’s largest producer of crypto-mining rigs ran into a cash crunch.
Wu is a major shareholder along with a clutch of global venture capital firms and Bitmain itself, Ge said. Headquartered in Singapore, Matrixport has a team of about 100 staffers, dozens of whom were let go from Bitmain. Precise details about the company’s funding will be announced at a later date, the 27-year-old chief said.
“We are closely tied to Bitmain by our origin,” Ge, a Bitmain shareholder himself, said in an interview. “But because we operate in different businesses, we are partners rather than competitors.”
A representative from Bitmain didn’t comment on the company’s or Wu’s connections to Matrixport.
Matrixport aims to challenge the likes of BitGo Inc. and Genesis Global Trading Inc. in the U.S., as companies move to develop financial services for professional crypto-coin traders and investors. It’s one of a crop of fledgling firms aiming to ride an upswell in Bitcoin interest: its price has tripled so far this year and is now trading at around $12,000.
Ge says Matrixport will use its connections and expertise at Bitmain to target the needs of Chinese crypto-miners, among the largest in the world. The startup itself is incorporated in jurisdictions outside of mainland China to skirt Beijing’s ban on crypto-trading.
Matrixport marks the latest venture from entrepreneur Wu. The billionaire has already stepped down from his role as Bitmain co-CEO but still stands to benefit when it goes public: the mining giant is seeking around $300 million to $500 million from a U.S. share sale as soon as the second half of this year, Bloomberg News has reported.
Ge and Wu first crossed paths in 2012, when as an undergraduate the Matrixport CEO worked as an intern for a private equity fund where Wu was his manager. Like Wu, Ge is a founding member of Bitmain and retains a 4% stake in the company, according to Bitmain’s listing application from September. Before founding Matrixport, he oversaw Bitmain’s investment unit, which led funding rounds for startups including Boston-based exchange and wallet operator Circle.
(Updates with live launch in the second paragraph.)
--With assistance from Dave Liedtka.
To contact the reporter on this story: Zheping Huang in Hong Kong at [email protected]
To contact the editors responsible for this story: Edwin Chan at [email protected], Colum Murphy
For more articles like this, please visit us atbloomberg.com
©2019 Bloomberg L.P. || P2P Bitcoin Trading Platform LocalBitcoins Leaves Iranian Crypto Traders Dry: Iranian crypto adopters and traders are no longer able to access peer-to-peer crypto trading platform LocalBitcoins. About the author: Ali is an independent cryptocurrency researcher based in Iran. By CCN : LocalBitcoins.com, the world’s most-popular peer-to-peer bitcoin trading platform, has begun restricting its service for Iranian users this week. As of now, creating new ads for buying or selling or updating old ads are restricted to Iranian traders. In the near future, there might be a possibility of locking users’ accounts and their bitcoins on the platform’s wallet. LocalBitcoins was the last inclusive crypto trading stop Big centralized exchange services like Coinbase, Binance, and many others have previously restricted Iranian users, either with the seizure of their cryptocurrencies or by preventing account setup in the identification phase. As a result, many people used the LocalBitcoins, a bulletin board for localized trading, for exchanging cryptocurrencies. LocalBitcoins.com does not require any credit card or online payment, making it easier for unbanked Iranian users. But as of Monday, the platform’s policy has changed, shunning Iranian users altogether. LocalBitcoins, P2P, Bitcoin, bitcoin trading LocalBitcoins confirms it is no longer offering services to Iranian citizens. These restrictions are likely in compliance with financial laws in Finland where LocalBitcoins.com is located. Trump-led U.S. sanctions have led to exchanges, money remittance platforms and other financial institutions restricting their services to Iranians. Read the full story on CCN.com . || Tax havens: A macro outlook at Bitcoin and how it could facilitate offshore banking services: Bitcoin. The word means many different things to many different people. As the world’s first and foremost decentralized digital currency, Bitcoin attempts to throw a wrench into the traditional monetary system. Here we will discuss the possibility that parallels exist between traditional tax havens used by the wealthy and cryptocurrencies like Bitcoin.
Estimates on the high side claim that the amount of money held offshore is anywhere from $20-30 trillion, and that up to 10% of the world’s GDP is parked offshore. It can be said that the most wealthy individuals have already had access to this form of secrecy and privacy for years.
Join Genesis nowand continue reading,Tax havens: A macro outlook at Bitcoin and how it could facilitate offshore banking services!
[Random Sample of Social Media Buzz (last 60 days)]
おおぉぉぉ、BTC、100万円到達してる(´⊙ω⊙`) || @galgitron @NicStvns1 @Trexia06238702 @XRPCaptain @XrpBoy @APompliano @The_Rippening @RyanZagone ripples created by BTC presently, much less n the future.
I dont believe n a new world order.
Slavery comes in many forms & financial controls are at the heart of most.
The nearest option we have 2 exit these controls is built || New Binance homies
https://t.co/TCaqmRYsB1
$BXY $BNB $bTC $BIX $BTMX || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || $3500 dump on bitcoin....approx 22% || Ethereum (ETH) Price Breaks Key Resistance, Outpaces Bitcoin CRYPTO CRYPTO NEWS - https://t.co/nYjnXssrcO || @WazirXIndia https://t.co/XJoZU3SAeW
I use WazirX Bitcoin exchange and love it! They're giving away 200 WRX Coins free on signing up using this link || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || https://t.co/78hCvMg7iU || #cindx #IEO #bitforex #sale #finance #trading #cryptocurrency #CINXO #blockchain #Bitcoin https://t.co/QFQaYI6UYP
|
Trend: down || Prices: 10599.11, 10343.11, 9900.77, 9811.93, 9911.84, 9870.30, 9477.68, 9552.86, 9519.15, 9607.42
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on 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 2020-06-10]
BTC Price: 9870.09, BTC RSI: 58.28
Gold Price: 1713.30, Gold RSI: 50.54
Oil Price: 39.60, Oil RSI: 66.35
[Random Sample of News (last 60 days)]
Slipping Chinese Yuan May Boost Bitcoin Price, Past Data Suggests: Bitcoin traders should keep an eye on the ongoing slide in the yuan, analysts say. That’s because, historically, the cryptocurrency looks to have put in a positive performance during bouts of weakness in the Chinese currency. The yuan (CNY) fell to 7.1613 per U.S. dollar earlier on Tuesday to hit the lowest level since early September and taking its cumulative month-to-date and year-to-date losses to 1.4% and 2.85%, respectively. Related: Market Wrap: Bullish Traders Push Bitcoin Over $9,100, Returning to Halving Levels The decline to eight-month lows could be associated with concerns about the U.S. response to China’s proposed security law for Hong Kong and the resulting haven demand for the greenback. U.S. Sen. Marco Rubio (R-Fla.) put out a tweet late Tuesday stating the U.S. would impose sanctions on China if the nation presses forward with implementing the controversial Hong Kong bill. “If China’s CNY continues to weaken against USD, then we could have a 2015 and 2016 repeat, where BTC strength coincided with yuan weakness,” tweeted Chris Burniske, partner at venture capital firm Placeholder. The above chart shows bitcoin and USD/CNY moving in tandem in 2015 and 2016. In August 2015, the People’s Bank of China (China’s central bank) surprised markets by devaluing CNY by 3.5%. The Chinese currency ended 2015 with an over 5.5% loss against the dollar, while bitcoin gained 34%. Related: Goldman Sachs: Cryptocurrencies ‘Are Not an Asset Class’ Another wave of yuan devaluation rocked financial markets in early 2016 and the currency ended that year with a 7% loss. Again, bitcoin rallied by nearly 125%. So there appears to have been a correlation between the two assets in 2015 and 2016. However, correlation does not necessarily imply causation, meaning there may or may not be a cause and effect relationship between the two. Read more: Chinese Government Advisers Propose Regional Stablecoin for 4 Asian Countries Some analysts have long argued that CNY depreciation leads to increased flow of money into bitcoin from China. Story continues For instance, CNY fell below 7 per dollar for the first time in 10 years on Aug. 5, 2019, amid the U.S.-China trade war. On that day, bitcoin rallied by 7% and the uptick began an hour before the yuan dropped below the key level. As a result, some observers, including prominent analyst Alex Kruger, wondered whether bitcoin had front-run the slide. “Last year we witnessed flows from CNY to BTC during the trade tariff saga,” Matthew Dibb, co-founder of Stack, a provider of cryptocurrency trackers and index funds, told CoinDesk Wednesday. Skeptics, however, would counter that claim by saying the uptick seen on Aug. 5 was short-lived and the cryptocurrency suffered sharp losses in the following four months despite the yuan’s continued decline to new multi-year lows near 7.20 per dollar. Essentially, the positive correlation between USD/CNY and bitcoin did not hold ground in the second half of the last year. Furthermore, both bitcoin and the yuan suffered losses in 2018. It could be argued the yuan slide seen in 2015 and 2016 merely coincided with the uptick in bitcoin, which was fueled by the bullish frenzy surrounding the cryptocurrency’s second mining-reward halving, which took place in July 2016. Nevertheless, it may be worth keeping a close eye on the ongoing CNY slide as the narrative that yuan depreciation leads to increased outflows from China is still quite strong. Further, in the crypto markets, bullish narratives have a tendency to become self-fulfilling prophecies, as evidenced by bitcoin’s pre-halving rally. Bitcoin a macro asset In addition, bitcoin may be more sensitive to developments in the yuan market this time round, with the cryptocurrency now a macro asset class this year following an increase in institutional participation. “It’s no longer possible to analyze the crypto market without analyzing the rest of the macro markets,” Messari analysts said in their Tuesday’s newsletter. “The 2020 recession officially marks the beginning of bitcoin as a macro asset class. For retail investors and institutional investors, crypto isn’t the only asset class in their portfolio. Therefore, it’s crucial to look at crypto from a portfolio allocation perspective.” Indeed, legendary fund managers like Paul Tudor Jones II have recently thrown their weight behind bitcoin , seeing it as a hedge against inflation. “Bitcoin reminds me of gold when I first got into the business in 1976,” Jones said. Gold, a precious metal with limited supply, tends to gain value during bouts of fiat currency devaluation. Bullish macros? Some analysts expect CNY to slide further on escalating U.S.-China tensions and power gains in the cryptocurrency. “As the USA and other countries retaliate against China’s proposed security law, our expectation is to see a continued depreciation of the yuan, while BTC could benefit once again as a local and liquid safe-haven asset alternative,” said Dibb. Read more: Number of Bitcoins on Crypto Exchanges Hits 18-Month Low Meanwhile, Phillip Gillespie, CEO of B2C2 Japan, told CoinDesk he is personally bullish on bitcoin due to the combination of excess money printing by central banks and pick up in geopolitical risks. “I expect serious anti-Chinese rhetoric in the coming days/weeks/months as [U.S. President Donald] Trump tries to use nationalism/protectionism and anger towards China as a major catalyst for support,” said Gillespie, while adding that we would soon find out whether there’s a positive correlation between USD/CNY and bitcoin returns. Bitcoin holds steady While the expectations may be bullish, so far, the cryptocurrency has not been able to gather upside momentum. At press time, the cryptocurrency is trading near $8,930, representing a 0.29% drop on the day. The short-term technical outlook has turned bearish following Sunday’s break below an ascending trendline connecting the March 13 and April 21 lows. While Clem Chambers, founder and CEO of financial markets website ADVFN.com , believes the premise for bitcoin strength amid the yuan’s weakness may be valid, he’s concerned liquidity coming into bitcoin will remain low in China for some time due to coronavirus outbreak. “I think BTC might have its new short-term range in place, but we will have to wait [a few weeks] till the second virus wave … if there is one, and that seems likely, to gauge what happens next,” said Chambers. Related Stories Bitcoin Transaction Fees Decline as Network Congestion Eases Bitcoin News Roundup for May 27, 2020 || Latest Ripple price and analysis (XRP to USD): Ripple’s XRP token has remained in a bearish position over the weekend after facing a clear rejection from a crucial moving average. In spite of its impressive performance over the past six weeks, which has seen it recover by 64% , XRP has failed to break above the daily 200MA on four occasions over the past week. The 200MA has been an important point of support and during XRP’s historic price action, with it causing significant downtrends following rejections in September and December in 2018 as well as in April and November in 2019. A rejection from here would indicate a period of downside price action over the coming months, which will likely cause a retest of the March 16 low of $0.1265. At the time of writing XRP is trading at $0.2115 after falling by more than 10% from Thursday’s high of $0.2354. In order for a bullish reversal to come into fruition it desperately needs to break above the $0.2279 level of resistance, which is also in confluence with the stubborn daily 200MA. Failure to do so in the next few days will undeniably cause a move to the downside with an initial target emerging at $0.20. It’s also worth noting that XRP may follow the trajectory of Bitcoin, which will undergo its long-awaited block reward halving next week. This has historically been a catalyst for a cryptocurrency bull market with altcoins like XRP ultimately following Bitcoin’s lead. 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. || Latest Bitcoin Cash price and analysis (BCH to USD): Bitcoin Cash has surged by more than 12.5% following yesterday’s daily candle close, as it now takes aim at the $238 and $282 levels of resistance. The industry’s fifth largest cryptocurrency now has a market cap of $4.24 billion, a sharp increase from yesterday evening when it was $3.85 billion. The rally came after a test of the $202 level of support, that was also key in the later stages of 2019 before the impressive hike to $493 in February. While breaking above the $238 level of resistance will initially be key, the daily 200 moving average coming in at around $270 will be the key point to break through. A break above the 200MA following five weeks of trading below it would indicate a clear shift in sentiment, which may well tie in to the upcoming Bitcoin halving. The Bitcoin halving will take place in May, with rewards for miners being slashed from 12.5BTC per block to 6.25BTC per block. The event is historically bullish, with the two previous occasions preceded a series of cryptocurrency bull markets and consecutive all-time highs. Altcoins like Bitcoin Cash typically perform well after BTC’s initial rally and consolidation as traders take profits and diversify into more speculative assets. If Bitcoin Cash can break above at least $270, if not $328 by the halving, it will set itself up perfectly for major upside in the second half of the year. For more news, guides and cryptocurrency analysis, click here . Pricing Current live BCH pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest BCH price. Pricing is also available in a range of different currency equivalents: US Dollar – BCHtoUSD British Pound Sterling – BCHtoGBP Japanese Yen – BCHtoJPY Euro – BCHtoEUR Australian Dollar – BCHtoAUD Russian Rouble – BCHtoRUB Bitcoin – BCHtoBTC About Bitcoin Cash Bitcoin Cash was born out of the idea of making Bitcoin more practical for small, day-to-day payments. In May 2017, Bitcoin payments took about four days unless a fee was paid, which was proportionately too large for small transactions. A change to the code was implemented and Bitcoin Cash was born on 1st August 2017. Story continues More Bitcoin Cash news and information If you want to find out more information about Bitcoin Cash or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started: https://coinrivet.com/roger-ver-to-launch-crypto-exchange-on-bitcoin-com/ As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news . Follow us o || Coinstar Plans Massive Expansion of Coinme Bitcoin ATMs as Usage Spikes 40%: Coinstar, the coin counting kiosk maker hosting 3,500 Coinme bitcoin ATMs, is looking to double its cash-for-bitcoin capable supermarket machines.
The doubling would happen “within a year,” Vice President of Product Michael Jack told CoinDesk. He said Coinme bitcoin ATM growth “both on a per location and overall basis, has been very strong.”
The company already has plans to plug Coinme’s exchange API into more kiosks, though Jack did not specify how soon this would happen. Coinstar has a global fleet of nearly 20,000 kiosks, according to its website.
Related:Tradeshift Proposes Plan to Protect Denmark’s Supply Chains From COVID-19 Crisis
The deliberations come as Coinme lays claim to a veritable accomplishment of the COVID-19 era: It’s bringing in new customers, even while other businesses flounder. Coinme CEO Neil Bergquist told CoinDesk that 40% of transactions since late February are by first-timers.
One reason for the surge may be the placement of Coinme bitcoin ATMs almost exclusively in supermarkets and pharmacies, just about the only brick-and-mortar establishments that remained open to consumer foot traffic through COVID-19 lockdowns.
Read more:Bitcoin ATMs Expand Despite Shelter-in-Place Rules
That twist of fate let Coinme “provide uninterrupted access” to customers, Bergquist said.
Related:As Pandemic Decimates Startups, Privacy Industry Holds Strong
As panicking shoppersflocked to grocery storesin mid-March on lockdown supply runs, some were apparently also bulking up on crypto: Bitcoin transaction volume at Coinme kiosks is up 40% since late February.
Coinme also saw a “slight uptick” in $1,200 transactions – the same dollar amount as coronavirus stimulus checks sent to Americans by the Treasury Dept. – “although we’re not seeing a strong correlation,” Bergquist said.
“The recent increase in sales certainly helped remove any concerns around company performance and durability during the pandemic,” Bergquist said.
The news immediately follows Coinme’s Thursday announcement that it had raised $10 million in Series A funding from Coinstar, Blockchain.com Ventures, Hard Yaka, Nima Capital and Pantera Capital, who led the ongoing round with $5.5 million. Pantera now controls a seat on the Coinme board of directors.
Even before the spike, Pantera partner Paul Veradittakit said his VC firm likes Coinme’s boots on the ground business model. He said it appeals to consumers curious about bitcoin and who are certainly familiar with the concept of ATMs but perhaps not ready to open an account with an online exchange.
“People aren’t there yet in terms of education, people aren’t there in terms of technology,” he said. “This is the way to get the mainstream user, the general public, the folks that are going to grocery stores” to buy bitcoin.
Bergquist said Coinme would use the cash to expand its business in Latin America. Because it builds an exchange API rather than an actual machines, Coinme can plug bitcoin buying into just about any compatible device: “kiosks, ATMs, [Point of Sale], and merchants” in Latin American countries, Bergquist said.
“They want to be the backend, they want to be the pipes to make money move around the world in a much more seamless way,” said Veradittakit.
CORRECTION (8 May 15:17 UTC): A previous version of this story incorrectly reported that Michael Jack was President of Product Management and that Coinstar would roll out new machines that feature Coinme. Coinstar is updating its existing fleet.
• 4 Ways COVID-19 Will Bring Banks and Regulators to Crypto
• NEAR Protocol Launches Following $21M Token Sale Led by Andreessen Horowitz || Marathon Patent Group Announces Purchase of 700 Next Generation M30S+ ASIC Miners: 700 Miners Expected to Generate 56 PH/s (petahash) of Hashing Power, Equal to 117% of the Company’s Current Hashing Power LAS VEGAS, May 11, 2020 (GLOBE NEWSWIRE) -- Marathon Patent Group, Inc. (NASDAQ: MARA ) ("Marathon" or "Company"), one of the few Nasdaq listed cryptocurrency mining companies in the United States, today announced the purchase of 700 next generation M30S+ ASIC Miners from MicroBT. The 700 miners produce 80/Th and will generate 56 PH/s (petahash) of hashing power, compared to companies current S-9 production of 46 PH/s. These next generation MicroBT ASIC miners are markedly more energy efficient than our existing S-9 Bitmain models. The company paid $1,277,455 and the purchase was funded with cash on hand. The company expects to take delivery at our Hosting Facility by the end of May and our hosting partner, Compute North, expects to install them within 48 hours of their arrival. The M30S+ is one of the latest generations of bitcoin (“BTC”) Application Specific Integrated Circuit (“ASIC”) miners from MicroBT. It can achieve 100 TH/s at 34J/T and has already proven to be highly stable. The units come with a 1-year warranty versus the industry standard 6-month warranty. Merrick Okamoto, Chief Executive Officer, stated, “We are excited to add these advanced next generation miners at the same time Bitcoin prices have recently experienced substantial appreciation and are testing the psychological $10,000 level. We believe this investment, combined with our lean operating structure and recently improving Bitcoin prices, positions us well prospectively. As we approach the Halving, we will wind down the production of our substantially less energy efficient S-9 Bitmain miners and continue to add more advanced next-generation mining equipment if Bitcoin prices maintain price levels which allow our miners to operation profitably.” Halving The bitcoin blockchain and the cryptocurrency reward for solving a block is subject to periodic incremental halving. Halving is a process designed to control the overall supply and reduce the risk of inflation in cryptocurrencies using a Proof-of-Work consensus algorithm. At a predetermined block, the mining reward is cut in half, hence the term “halving”. For bitcoin, the reward was initially set at 50 bitcoin currency rewards per block and this was cut in half to 25 on November 28, 2012 at block 210,000 and again to 12.5 on July 9, 2016 at block 420,000. The next halving for bitcoin is expected on May 12, 2020 at block 630,000 when the current 12.5 reward will reduce to 6.25. Many factors influence the price of bitcoin and potential increases or decreases in prices in advance of or following a future halving is unknown. Story continues 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, 2018. 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. CONTACT INFORMATION Name: Jason Assad Phone: 678-570-6791 Email: [email protected] || Bitcoin DeFi Ecosystem Expands as RIF Stablecoin and Leveraged Token are Launched: Money on Chain DeFi ecosystem continues to grow with a RIF-collateralized stablecoin and a RIF leveraged product. MONTEVIDEO, URUGUAY / ACCESSWIRE / April 21, 2020 / Money on Chain, the company that built and deployed one of the first bitcoin-collateralized DeFi protocols, announced today the extension of its technology to the RIF ecosystem by releasing the RIF on Chain DeFi platform backed by RIF tokens and deployed on the RSK network. At launch, the RIF on Chain platform will consist of three main assets that interact with each other, and which have been developed to serve different purposes depending on the users needs. These include: the RIF Dollar (RDOC), the RIFpro (RPRO), and RIFX. RDOC is a stablecoin pegged to the US Dollar and collateralized by RIF tokens that act as a hedge against volatility. Its main differentiator is the lack of requiring a Collateralized Debt Position (CDP) for acquiring RDOCs, as users can buy them directly in the platform with their RIF tokens. RDOC holders have full control over their RDOCs, they can freely transfer and store them in a compatible hardware wallet. Additionally, RDOCs can be used to acquire any product within the RIF Marketplace to be launched in 2020. RPRO is a token that mirrors the RIF token price volatility and is designed for those users who want to earn a passive income on their RIF tokens by collecting a share of the fees generated by the platform transactions. Holders can essentially stake RIF in this way and earn income while remaining a vital part of the RIF DeFi ecosystem. RPROs can also be transferred and stored in compatible hardware wallets. RIFX is a leveraged asset for users who wish to get exposure to movements in the RIF token price. Holders of a RIFX position can potentially double their percentage gains as the price of RIF increases or their losses as price decreases. Contracts in these leveraged positions would be set to renew every 30 days in this first version of the platform. The Money On Chain (MOC) DeFi protocol expects to increase the usage of its technology by adding large community tokens such as the RIF token, which continues to experience a steady growth in user numbers as new initiatives are launched across strategic markets, such as Asia and Latin America. Money on Chain CEO Max Carjuza commented on the announcement: "When we designed the Money On Chain protocol we did it thinking that the financial model could also be used with other collateral assets. We believe that RIF offers many new infrastructure services through the RSK network, and this will accelerate the adoption of DeFi for Bitcoin. We are very excited to be able to collaborate with this amazing project." Story continues IOV Labs CEO Diego Gutierrez Zaldivar added: "It's thrilling to experience how quickly the DeFi ecosystem has been growing, launching more products and achieving broader adoption. We are excited that top DeFi technologies such as Money on Chain are choosing the RIF token and the RBTC blockchain to evolve and position their products in this high growth competitive environment." About Money on Chain Money On Chain protocol enables the creation of new Stablecoins Tokens, allowing transactions of innovative financial systems to be free from the volatility of the current cryptocurrencies markets enabling a world where transactions are instant, cost-efficient and free from the volatility of the current cryptocurrencies markets. Furthermore, enables international trade to be frictionless so individuals and companies can use the Bitcoin blockchain without facing volatility risks. Money on Chain hence takes the best of both worlds, decentralization, security, immutability of Bitcoin and the stability of traditional fiat to create such a solution. About IOV Labs IOV Labs is focused on developing the platforms needed for a new blockchain-based financial system that will enable worldwide financial inclusion and bridge the gap between these nascent technologies and mass adoption. The organization currently develops the RSK Smart Contract Network , RIF , and Taringa ! platforms. RSK Network is one of the more secure smart contract platforms in the world, as it relies on Bitcoin's hash power through merge-mining. RIF is a suite of open and decentralized infrastructure protocols that enable faster, easier and scalable development of distributed applications (dApps) within a unified environment to enable mass adoption of Bitcoin and RSK. Contact: Dan Edelstein [email protected] +972-545-464-238 SOURCE: RSK View source version on accesswire.com: https://www.accesswire.com/586131/Bitcoin-DeFi-Ecosystem-Expands-as-RIF-Stablecoin-and-Leveraged-Token-are-Launched View comments || Latest Bitcoin price and analysis (BTC to USD): Bitcoin is lining up a third major attempt at breaking out above $10,000 ahead of the expiry of the CME’s Bitcoin futures contract. The expiry of the contract will see 50% of open interest also expire, which is expected to cause volatile swings in the price of Bitcoin at the start of next week. During the first week of May the CME reported that open interest for its Bitcoin contract had hit an all-time high after it recovered from the gruelling sell-off in March. At the time of writing Bitcoin is trading at $9,400 after falling slightly from this morning’s high at $9,623. Moving forwards if Bitcoin can continue to trade above $8,830 and $9,200 in the short term it will continue to assert a bullish bias, while a break below these levels of support could cause a sell-off to as low as $7,100, which was the yearly open. High frequency traders, however, will be targeting a move to the upside over the coming weeks with the $10,000 level proving to be a bitter point of resistance. Breaking above a psychological level like $10,000 would indicate a change in behaviour from traders, with bullish price sentiment slowly returning after the recent halving event, which in truth turned out to be anticlimactic. As seen during the bullish phase in the market last year there are still a number of key levels of resistance above $10,000, notably $10,500 and $12,300, although what’s most important is that Bitcoin prints a lower high for the first time in 12 months. For more news, guides and cryptocurrency analysis, click here . Bitcoin pricing Current live BTC pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Pricing is also available in a range of different currency equivalents: 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 -09/05/20: Bitcoin fell by 1.88% on Friday. Partially reversing a 9.06% rally from Thursday, Bitcoin ended the day at $9,792.4.
A mixed start to the day saw Bitcoin rise to an early morning intraday high $10,025 before hitting reverse.
Falling short of the first major resistance level at $10,340.07 and 62% FIB of $10,034, Bitcoin slid to a mid-morning intraday low $9,705.0.
Steering clear of the first major support level at $9,324.07, Bitcoin bounced back to $10,000 levels before a late slide.
Falling short of the 62% FIB of $10,034, Bitcoin slid back to $9,700 levels to end the day in the red.
The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.
For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.
Across the rest of the majors, it was a mixed day for the pack on Friday.
Bitcoin Cash ABC rose by 2.71% to lead the way.
Binance Coin (+0.53%), Bitcoin Cash SV (+0.91%), Cardano’s ADA (+1.19%), Litecoin (+0.65%), Stellar’s Lumen (+0.41%), Tezos (+1.14%), and Tron’s TRX (+1.10%) also saw green.
It was a bearish day for the rest, however, with Monero’s XMR sliding by 3.52% to lead the way down.
EOS (-0.64%), Ethereum (-0.43%), and Ripple’s XRP (-0.05%) also joined Bitcoin in the red.
Through the current week, the crypto total market cap rose from a Monday low $240.56bn to a Friday high $271.32bn. At the time of writing, the total market cap stood at $269.10bn.
Bitcoin’s dominance held onto 65% levels following Monday’s modest loss, before the mid-week breakout that delivered 68% levels. At the time of writing, Bitcoin’s dominance stood at 67.5%.
24-hour trading volumes fell to a Tuesday current week low $145.07bn before jumping to a Friday high $205.18bn. At the time of writing, 24-hr volumes stood at $168.77bn.
At the time of writing, Bitcoin was up by 0.93% to $9,883.6. Bitcoin fell to an early morning low $9,723.3 before striking a high $9,876.6.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was another bullish start to the day for the rest of the majors.
Binance Coin and Bitcoin Cash ABC led the way early on, with gains of 1.52% and 1.54% respectively.
Bitcoin would need to avoid sub-$9,840 levels to bring the first major resistance level at $9,976.6 into play.
Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $9,876.6.
Barring a broad-based crypto rally, the first major resistance level would likely leave Bitcoin short of the 62% FIB.
In the event of another breakout, the second major resistance level at $10,160.8 would come into play.
Failure to avoid sub-$9,840 levels could see Bitcoin struggle on the day.
A fall through back through the morning low $9,723.3 would bring the first major support level at $9,656.6 into play before any recovery.
Barring a crypto meltdown, however, Bitcoin should steer clear of sub-$9,700 levels.
Thisarticlewas originally posted on FX Empire
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Trading volume on OTC Markets decreased in April, and nearly all of the market’s most actively traded securities experienced month-over-month volume declines as market volatility normalized a bit during the month. Volume on the OTCQX Market—the top tier of OTC Markets— fell 37% in April, while volume on the OTCQB Venture Market decreased 24%.
On an individual company level, nearly all of the most actively traded securities on OTC Markets experienced lighter dollar volume in April than in March, a likely result of lower share prices combined with lower volatility. This includes names likeRoche Holding Ltd(OTCQX:RHHBY) (down 39%), theGrayscale Bitcoin Trust(OTCQX:GBTC) (down 21%), andAdidas AG(OTCQX:ADDYY) (down 70%).
Of the 30 most-traded securities on the OTCQX Market, onlyAir Canada(OTCQX:ACDVF) (up 38%) andNew Pacific Metals Corp.(OTCQX: NUMF) (up 27%) saw a dollar volume increase in April, whileCresco Labs Inc.(OTCQX:CRLBF) was flat month-over-month.
On the OTCQB Venture Market,CytoDyn Inc.(OTCQB:CYDY) was the most actively traded security on the market for the first time on record, as dollar volume in the issuer increased 191%. This massive increase is most likely related to the company’s Leronlimab, which is currently in the Phase 2 testing period to potentially treat severely-ill COVID-19 patients.
Shares of CytoDyn were so actively traded during April, that they accounted for nearly half of all dollar volume on the entire OTCQB Market.
Below are the top 10 most actively traded securities on the OTCQX and OTCQB Markets in April.
OTCQX
[{"Roche Holding Ltd": "Grayscale Bitcoin Trust", "RHHBY": "GBTC", "$2,615,581,174": "$760,608,164"}, {"Roche Holding Ltd": "Danone", "RHHBY": "DANOY", "$2,615,581,174": "$574,453,094"}, {"Roche Holding Ltd": "BNP Paribas", "RHHBY": "BNPQY", "$2,615,581,174": "$205,399,081"}, {"Roche Holding Ltd": "adidas AG", "RHHBY": "ADDYY", "$2,615,581,174": "$154,774,466"}, {"Roche Holding Ltd": "Infineon Technologies AG", "RHHBY": "IFNNY", "$2,615,581,174": "$143,502,849"}, {"Roche Holding Ltd": "AXA", "RHHBY": "AXAHY", "$2,615,581,174": "$137,990,439"}, {"Roche Holding Ltd": "Heineken N.V.", "RHHBY": "HEINY", "$2,615,581,174": "$108,282,669"}, {"Roche Holding Ltd": "BASF SE", "RHHBY": "BASFY", "$2,615,581,174": "$101,093,324"}, {"Roche Holding Ltd": "Anglo American plc", "RHHBY": "NGLOY", "$2,615,581,174": "$96,483,869"}]
OTCQB
[{"CytoDyn Inc.": "Fannie Mae", "CYDY": "FNMA", "$612,566,094": "$167,514,566"}, {"CytoDyn Inc.": "Freddie Mac", "CYDY": "FMCC", "$612,566,094": "$70,217,890"}, {"CytoDyn Inc.": "Semler Scientific, Inc.", "CYDY": "SMLR", "$612,566,094": "$17,035,296"}, {"CytoDyn Inc.": "Kraig Biocraft Laboratories, Inc.", "CYDY": "KBLB", "$612,566,094": "$15,406,687"}, {"CytoDyn Inc.": "Innovation Pharmaceuticals Inc.", "CYDY": "IPIX", "$612,566,094": "$11,881,969"}, {"CytoDyn Inc.": "CV Sciences, Inc.", "CYDY": "CVSI", "$612,566,094": "$11,114,943"}, {"CytoDyn Inc.": "Algernon Pharmaceuticals Inc.", "CYDY": "AGNPF", "$612,566,094": "$9,325,406"}, {"CytoDyn Inc.": "Northwest Biotherapeutics, Inc.", "CYDY": "NWBO", "$612,566,094": "$7,364,351"}, {"CytoDyn Inc.": "Nextech AR Solutions Corp.", "CYDY": "NEXCF", "$612,566,094": "$5,945,239"}]
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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: no change || Prices: 9321.78, 9480.84, 9475.28, 9386.79, 9450.70, 9538.02, 9480.25, 9411.84, 9288.02, 9332.34
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2015-06-30]
BTC Price: 263.07, BTC RSI: 72.67
Gold Price: 1171.50, Gold RSI: 43.14
Oil Price: 59.47, Oil RSI: 50.11
[Random Sample of News (last 60 days)]
The Future of Bitcoin; the Opportunity and Obstacles: POINT ROBERTS, WA and NEW YORK, NY--(Marketwired - June 04, 2015) -Investorideas.com, a global news source covering leading sectors including Bitcoin and payment technology releases commentary from some of the leading digital currency experts along with management from two public plays within the sector.
As Wall Street and global financial markets enter the space, these experts give insight into the future of Bitcoin and the obstacles and the opportunities it presents.
The following are questions and answers from the participating experts; Brian Kelly, author of the book "The Bitcoin Big Bang"www.briankellycapital.com, David Berger,Founder and CEO,Digital Currency Council (DCC), Mr. Brad Moynes, President of Bit-X Financial Corp. and Michael Sonnenshein, Director of Sales & Business Development, Bitcoin Investment Trust(OTCQX: GBTC).
Interviews:
Brian KellyQ: Investorideas.comYou have said you were a skeptic like many in the beginning and now you are a respected expert in the sector. With recent acceptance from The New York Stock Exchange, Nasdaq Stock Exchange, Goldman Sachs, Richard Branson and a list of new entries every day, what do you see as the turning point for Bitcoin becoming legitimate?
A: Brian Kelly, author of the book "The Bitcoin Big Bang"It seems that financial institutions finally realized that Bitcoin and the blockchain is more than a currency. They realized it is a tool to flatten the costs of financial services.
Q: Investorideas.comDo you see many publicly-traded stocks in play now and are you hearing of IPO's in the space?
A: Brian Kelly, author of the book "The Bitcoin Big Bang"I would expect IPOs in the next 3 years. If we use internet companies in 1995 as a template, it took about three years for major IPOs.
Q: Investorideas.comWith the major financial institutions now getting involved, where do you see Bitcoin headed in the next few years and how will it impact the future of currency?
A: Brian Kelly, author of the book "The Bitcoin Big Bang"A year ago the survival of Bitcoin was 50/50...with recent investments it's clear that blockchain technology is here to stay.
David BergerQ: Investorideas.comCan you give us background on the creation of the Digital Currency Council (DCC) and why you formed it?
A: David Berger,Founder and CEO,Digital Currency Council (DCC)The early mission of The Digital Currency Council was to set a common standard of understanding amongst professionals and help those professionals achieve that standard. Today, our over 1500 members across 90 countries are using the knowledge they've gained to build various exciting businesses and streamline existing business processes. Our software is integral to these more complex efforts.
Q: Investorideas.comWith a primary focus of education, what kind of individuals and companies are you seeing come forward to understand Bitcoin and what percentage of the financial community at large do you think is getting involved now?
A: David Berger,Founder and CEO,Digital Currency Council (DCC)We are at the very beginning. Most individuals and firms have a very limited understanding. Our work with these individuals and firms begins with general competency training. These general competencies are sufficient to ensure that a firm is aware of the opportunities and risks. Our customized software solutions help those firms that recognize an opportunity to capitalize.
Q: Investorideas.comWhat do you see as the primary obstacles to the acceptance of digital currency?
A: David Berger,Founder and CEO,Digital Currency Council (DCC)It's important that we ensure that bad actors don't hijack this groundbreaking technology. The general public will accept and adopt technologies that make their lives better but only if they trust that the risk doesn't outweigh the benefit.
Q: Investorideas.comWhat do you see for Bitcoin within the next year and over the next 5 years?
A: David Berger,Founder and CEO,Digital Currency Council (DCC)The next five years will bring increased integration, complexity, and utility. Bitcoin will become so easy to use that you won't even realize you're using it.
Brad MoynesQ: Investorideas.comWhat do you think was the turning point for making Wall Street and the financial institutions take notice and want to participate in Bitcoin?
A: Mr. Brad Moynes, President of Bit-X Financial Corp.The opportunity to develop technology that could make financial institutions including stock exchanges, broker-dealers, banks, transfer agencies and the DTC more efficient and less costly to reporting issuers, investors and consumers would be considered by Wall Street as a really good thing. The fact that DNCT (blockchain) technology has the potential to achieve this and that many of these institutions have already invested considerable capital into the technology at the fastest rate to date, suggests that the turning point has already occurred. In addition, the recent announcement that the NYDFS has released the final version of its long-awaited regulatory framework for digital currency companies shall provide clarity to the industry as a whole and ease concern regarding over-regulation and the threat of stifling growth and innovation.
Q: Investorideas.comWhat do you think are some of the hurdles and obstacles for Bitcoin?
A: Mr. Brad Moynes, President of Bit-X Financial CorpPerhaps over regulation. Bitcoin appears to be holding its value at current levels and the Blockchain is gaining considerable awareness across a broad selection of industries. I would expect many hurdles & obstacles along the way but with big break-through ideas later this year and in 2016 to look forward to.
Q: Investorideas.comWill your exchange, when launched, offer any educational tools for trading and investing in Bitcoin? What kind of investors/traders do you see currently in the space and do you see the demographics changing?
A: Mr. Brad Moynes, President of Bit-X Financial Corp.The exchange will offer our users the tools they need to buy & sell crypto-currencies including Bitcoin. Our customer service will be the best in the business with rapid response time to meet user demands, answer questions and provide solutions. We will also have a Bitcoin forum for users to create various discussion topics. Generally these forums are an excellent way for users to gain information and educate among themselves.
There are several investor/trader profiles which include day-traders, medium to long-term investors seeking capital gains and entities who offer investor's exposure to Bitcoin via open market equity-share purchases that tie their shares to an underlying asset [bitcoin] on a pre-determined ratio basis.
A beneficial change to the demographic would be an increase in demand for bitcoin in day-to-day use and consumer point of sale purchases.
Michael SonnensheinQ: Investorideas.comThe Bitcoin Investment Trust's shares are the first publicly quoted* securities solely invested in and deriving value from, the price of Bitcoin. Can you tell investors how investing in the shares of (GBTC) will give them a different value/investment opportunity than strictly trying to buy and sell Bitcoin?
A: Michael Sonnenshein, Director of Sales & Business Development, Bitcoin Investment Trust (GBTC)Purchasing Bitcoin outright can be a harrowing experience for investors. More often than not, they don't know who to purchase Bitcoin from (are there counterparties they trust), what price they should pay, or how to handle Bitcoin safely and securely. Even if investors can overcome these challenges, storing Bitcoin on one's own can be a liability. If Bitcoin holders are hacked or lose the private key to their Bitcoin wallet, they have zero recourse.
In sharp contrast to this experience, purchasing shares of The Bitcoin Investment Trust gives investors the ability to gain exposure to Bitcoin without the aforementioned challenges and through a titled security in the investor's name. Consequently, shares are eligible to be passed onto beneficiaries under estate laws and are eligible to be held in certain IRA, Roth IRA, and other brokerage and investment accounts (this is not possible with outright Bitcoin). The Bitcoin Investment Trust has also brought together credible service providers, as shares are marketed and distributed through a FINRA-registered broker-dealer, and the Trust's financial statements are audited annually by Ernst & Young LLP.
Each share of The Bitcoin Investment Trust represents approximately 0.1 Bitcoin and shares are tied to a daily 4pm net asset value that is representative of the Bitcoin market price. Qualified accredited investors have the ability to purchase shares of The Bitcoin Investment Trust at the daily NAV through an ongoing private placement. However, these shares carry resale and transfer limitations. Both accredited and non-accredited investors have the ability to purchase shares of The Bitcoin Investment Trust on OTCQX under the symbol: GBTC. These shares have been deemed freely tradable and are subject to market-driven price movement, which does not reflect the restricted shares daily NAV.
In offering these two avenues for investors, their Bitcoin exposure is able to sit alongside their existing investments and their exposure to Bitcoin is attained through a transparent and familiar experience. Additionally, as a titled security, The Bitcoin Investment Trust has resonated well with investors' financial advisors, lawyers, and accountants. More information on The Bitcoin Investment Trust is available through its sponsors website,www.grayscale.co
Q: Investorideas.comWhere does the company see the Bitcoin industry now as Wall Street has begun to embrace it and what was the turning point that legitimatized Bitcoin? Where do they see the future of Bitcoin1-5 years from now?
A: Michael Sonnenshein, Director of Sales & Business Development, Bitcoin Investment Trust(OTCQX: GBTC)Bitcoin is still in infancy and we'd liken where Bitcoin and digital currencies are in their development to the internet in the mid-to-late 1990's. Namely, just like there were plenty of naysayers who didn't believe in the internet's potential, there are folks who occupy that same mindset when it comes to Bitcoin. While we can't be sure of Bitcoin's ultimate fate, we can see is that there is an unprecedented amount of venture capital and human capital pouring into the space. Entrepreneurs are building the infrastructure and applications that will support Bitcoin's continued adoption and usage globally.
Over the past two years, there has been increasing attention paid to Bitcoin from Wall Street. Every bank, broker-dealer, asset manager, and other institution had formed internal task forces assigned to understanding Bitcoin. Recently, many of these firms (and the work of these internal teams) have begun putting their reputations on the line by publicly getting involved in Bitcoin with the likes of Goldman Sachs, UBS, Nasdaq, the NYSE, and other globally recognized institutions integrating Bitcoin into their businesses and/or making strategic investments in some of the aforementioned companies laying the ground work for increased adoption. I think we will continue to see more of these large players get involved in the space over the coming years and that Bitcoin and the underlying blockchain technology will ultimately shake up and transform the entire financial services landscape for the better.
Bios:Brian Kellywww.briankellycapital.comBrian Kelly is an investor, author, and financial markets commentator. He is an expert in global financial markets, macro-economics and digital currencies. Brian Kelly has over twenty years' experience in financial markets and is the author of the book "The Bitcoin Big Bang -- How Alternative Currencies are About to Change the World."
Brian is a graduate of the University of Vermont where he received a B.S. in finance. He also holds an M.B.A. from Babson Graduate School of Business with a concentration in finance and econometrics.
A passion for investments and entrepreneurship has led Brian to start several successful investment businesses. His most recent start-up BKCM LLC is a global investment management firm specializing in Global Macro and Currency investing.
Prior to BKCM LLC, Brian was Co-Founder and Managing Partner of Shelter Harbor Capital LLC and managed the Shelter Harbor Capital Global Macro Hedge Fund. As well, Mr. Kelly was a co-founder and President of MKM Partners, a brokerage firm catering to institutional investment managers.
Brian provides money management services to a select clientele and consults on digital currencies.
David Berger,Founder and CEO,Digital Currency Council (DCC)David Berger is the Founder and CEO of The Digital Currency Council (DCC), the leading provider of digital currency-related training, certification, and continuing education. Mr. Berger is an attorney with extensive experience in finance in the United States and Asia. He has a passion for building professional networks that support members' advancement with actionable commercial insight.
Prior to launching the DCC, Mr. Berger was the CEO of Americas at Campden Wealth, the parent company of the Institute for Private Investors -- the premier decision support network for ultra high net worth investors and family offices. Mr. Berger is also the founder of Private Investor Collective, a Hong Kong-based network for sophisticated private investors, and played a key role in the development of two network-based advisory firms for CEOs in Asia Pacific. He also founded Asia Executive Solutions, a Hong Kong-based strategy consulting firm, where his clients included SecondMarket, Corporate Executive Board, and NPD Group.
Prior to his career in finance, Mr. Berger was an attorney in the Washington, DC office of the global law firm O'Melveny & Myers LLP, where he focused on securities law. Mr. Berger also spent two years at the United States Department of Justice. He is a graduate of New York University School of Law and Emory University.
About BIT-X:Bit-X Financial Corp is a Vancouver; British Columbia based Company listed on the OTC.QB under the trading symbol BITXF. Bit-X Financial Corp is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC."www.bitxfin.com
About The Bitcoin Investment Trust(OTCQX: GBTC)The Bitcoin Investment Trust is a private, open-ended trust that is invested exclusively in Bitcoin and derives its value solely from the price of Bitcoin. It enables investors to gain exposure to the price movement of Bitcoin without the challenge of buying, storing, and safekeeping Bitcoins. The BIT's sponsor is Grayscale Investments, a wholly-owned subsidiary of Digital Currency Group.
About Investorideas.comInvestorIdeas.com newswire is a global investor news source covering multiple sectors including Bitcoin and payment technology.
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Disclaimer/ Disclosure: The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. Disclosure: BITXF is a PR client of Investorideas.com and compensates us for news publication, PR and media. (two thousand five hundred per month and 144 shares ) More info:http://www.investorideas.com/About/News/Clientspecifics.aspandhttp://www.investorideas.com/About/Disclaimer.asp
BC Residents and Investor Disclaimer : Effective September 15 2008 -- all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info:http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country. || Here's the next key challenge for Stripe, the hot payment startup whose valuation keeps soaring: (LinkedIn )Stripe co-founders John and Patrick Collison
Payments company Stripe is Silicon Valley's latest startup success story: The company is in discussions to raise a new round of venture funding that would value it at $5 billion,according to a Re/code report.
While Stripe appears to be having no trouble attracting financing, a key effort for the company going forward is likely to focus on boosting the amount of transactions on its platform.
Stripe's technology serves as a "gateway," letting websites and online businesses accept payments from anybody, whether they're using a credit card, Bitcoin, or even Apple Pay. This is super critical as more and more consumers do their shopping online.
PayPal is still the biggest player in the room, with a whopping $61.4 billion in transaction volume in the first three months of the year,according to this chart.
A Stripe spokesperson declined to provide a current transaction volume figure, but said that Stripe processes "billions of dollars a year for thousands of businesses" that range from start-ups to Fortune 500 companies. (A report in PandoDailysaidStripe was doing about $1.5 billion in annualized transaction volume about a year ago, but Stripe now says that number is "entirely false.")
Stripe's partnership with Apple for its new mobile payment service is sure to help. And Stripe also counts Facebook and Twitter as partners.
Transaction volume is critical in this business. Being a payment processing "gateway" is a low-margin business (banks, credit processing services, and all the other middlemen have to get paid somewhere), meaning that you have to have a high transaction volume to make money.
While Stripe doesn't have the tremendous market share of PayPal, it has two things going for it, says Business Insider Research Analyst John Heggestuen:
First, it's really simple for a business to get started using Stripe, and second, it's easy for developers to customize Stripe's technology for their own needs — which is super important because not all online businesses have the same needs. And PayPal has long been notorious for not working well with outside developers, Heggestuen says.
PayPal has been using its BrainTree mobile payments service, obtained via acquisition, to move faster and compete more directly with Stripe.
But Heggestuen describes PayPal's pace of product improvements in the years before that Braintree acquisition as "lackadaisical," betting on the fact that they're already so big. That leaves PayPal playing a little bit of catch-up, and it gives Stripe a fighting chance.
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• The 9 worst things about working at a startup no one tells you before you join || Bitcoin Direct LLC, Subsidiary of Conexus, Places Order for Additional 6 Automated Bitcoin Machines: NEW YORK, NY--(Marketwired - May 26, 2015) - Conexus Cattle Corp. (OTC PINK:CNXS) announced today their subsidiary, Bitcoin Direct LLC, a Nevada limited liability company ("Bitcoin" or the "Company"), has placed an order for 6 additionalAutomatedBitcoinMachines (ABMs). The ABMs, which provide consumers with the ability to instantaneously purchase bitcoins through their mobile devices, will be installed in key North American metropolitan markets. The Company currently has installations serving the major metropolitan centers of New York City and Montreal and anticipates placing the new ABMs in metropolitan areas that lack access to ABMs. Additional sites are presently being reviewed in the New York metropolitan area.
ABMs present a major solution for bitcoin users. An ABM allows consumers to exchange cash and bitcoins without the need for a human to facilitate the transaction. In addition, the Company plans to offer a full range of bitcoin transaction solutions to a wide variety of industries including remittance and gaming, among others.
Conrad Huss, President of Conexus, commented: "We look forward to building out the Company's North American presence and opening up markets that are either underserved or completely lacking access to an ABM. Consumer demand has created the need for additional ABMs and we are eager to install our system into highly select, profitable market areas. As the AMBs are installed, we look forward to updating all stakeholders on the Company's progress and growth."
About Bitcoin Direct LLC
Bitcoin Direct LLC provides bitcoin transaction solutions for consumers. Bitcoin's initial focus is aimed at installing and servicing its ABMs (Automated Bitcoin Machines) in multiple locations. The ABMs provide consumers with the ability to instantaneously purchase bitcoins through their mobile devices. Currently, the Company has installations serving the major metropolitan centers of New York City and Montreal.
Safe Harbor
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. The forward-looking statements contained in this press release include statements regarding the elimination of debt, positioning the Company for growth and the vote of confidence in the growth plans. All forward-looking statements in this press release are made as of the date of this press release, and the Company assumes no obligation to update these forward-looking statements other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements and include the Company's ability to complete its intended growth plans in a timely manner and the other factors discussed in Current Reports on Form 8-K. Copies of these filings are available atwww.sec.gov || Bitcoin Direct LLC, Subsidiary of Conexus, Places Order for Additional 6 Automated Bitcoin Machines: NEW YORK, NY--(Marketwired - May 26, 2015) - Conexus Cattle Corp. (OTC PINK:CNXS) announced today their subsidiary, Bitcoin Direct LLC, a Nevada limited liability company ("Bitcoin" or the "Company"), has placed an order for 6 additionalAutomatedBitcoinMachines (ABMs). The ABMs, which provide consumers with the ability to instantaneously purchase bitcoins through their mobile devices, will be installed in key North American metropolitan markets. The Company currently has installations serving the major metropolitan centers of New York City and Montreal and anticipates placing the new ABMs in metropolitan areas that lack access to ABMs. Additional sites are presently being reviewed in the New York metropolitan area.
ABMs present a major solution for bitcoin users. An ABM allows consumers to exchange cash and bitcoins without the need for a human to facilitate the transaction. In addition, the Company plans to offer a full range of bitcoin transaction solutions to a wide variety of industries including remittance and gaming, among others.
Conrad Huss, President of Conexus, commented: "We look forward to building out the Company's North American presence and opening up markets that are either underserved or completely lacking access to an ABM. Consumer demand has created the need for additional ABMs and we are eager to install our system into highly select, profitable market areas. As the AMBs are installed, we look forward to updating all stakeholders on the Company's progress and growth."
About Bitcoin Direct LLC
Bitcoin Direct LLC provides bitcoin transaction solutions for consumers. Bitcoin's initial focus is aimed at installing and servicing its ABMs (Automated Bitcoin Machines) in multiple locations. The ABMs provide consumers with the ability to instantaneously purchase bitcoins through their mobile devices. Currently, the Company has installations serving the major metropolitan centers of New York City and Montreal.
Safe Harbor
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. The forward-looking statements contained in this press release include statements regarding the elimination of debt, positioning the Company for growth and the vote of confidence in the growth plans. All forward-looking statements in this press release are made as of the date of this press release, and the Company assumes no obligation to update these forward-looking statements other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements and include the Company's ability to complete its intended growth plans in a timely manner and the other factors discussed in Current Reports on Form 8-K. Copies of these filings are available atwww.sec.gov || A New Cryptocurrency Draws Its Power From Unicorns: Cryptocurrencies like bitcoin earned a bad reputation in the press after several high profile scams depicted the currency as a tool forillegal activity. However, many say that despite digital currencies' shortcomings, they offer charitable organizations an interesting opportunity to raise money from around the world without the cost of a third party intermediary.
Unicoin
UNICEF and the H&M Conscious Foundation are hoping to capitalize on that opportunity with anew programaimed at giving underprivileged children access to quality care and education.
The two organizations have created Unicoin, a cryptocurrency that draws its power from children's unicorn drawings.
Related Link:The Apple Store Gets Its First Cryptocurrency Trading App
Getting Children Into Giving
Young children around the globe are encouraged to draw and submit drawings of unicorns, along with a few lines that sum up their plans when they grow up. The drawings are uploaded to the foundation's website, which in turn donates one notebook and pencil to a child in need.
The initiative has been praised as a great way to integrate digital currencies into charitable giving, as well as a good introduction to philanthropy for young children.
Charities Using Cryptocurrencies
While Unicoin has been touted as the first "charitable cryptocurrency," other organizations are experimenting with accepting digital currencies as well. The American Red Cross and Save the Children are among some of the big name charities that now accept bitcoin donations in hopes of garnering support from new segments of the population.
Related Link: Bitcoin Mining Lightbulbs Prove Cryptocurrencies Won't Be Left Behind In The IoT
Still Some Risks
The low transaction cost associated with bitcoin has been a major draw for charitable organizations, as the total amount a user donates goes directly toward the cause.
However, critics say that bitcoin's volatility cancels out that benefit, as charities have to quickly change the donations into another currency to avoid major price swings.
Image Credit: Public Domain
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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 || A New Cryptocurrency Draws Its Power From Unicorns: Cryptocurrencies like bitcoin earned a bad reputation in the press after several high profile scams depicted the currency as a tool for illegal activity . However, many say that despite digital currencies' shortcomings, they offer charitable organizations an interesting opportunity to raise money from around the world without the cost of a third party intermediary. Unicoin UNICEF and the H&M Conscious Foundation are hoping to capitalize on that opportunity with a new program aimed at giving underprivileged children access to quality care and education. The two organizations have created Unicoin, a cryptocurrency that draws its power from children's unicorn drawings. Related Link: The Apple Store Gets Its First Cryptocurrency Trading App Getting Children Into Giving Young children around the globe are encouraged to draw and submit drawings of unicorns, along with a few lines that sum up their plans when they grow up. The drawings are uploaded to the foundation's website, which in turn donates one notebook and pencil to a child in need. The initiative has been praised as a great way to integrate digital currencies into charitable giving, as well as a good introduction to philanthropy for young children. Charities Using Cryptocurrencies While Unicoin has been touted as the first "charitable cryptocurrency," other organizations are experimenting with accepting digital currencies as well. The American Red Cross and Save the Children are among some of the big name charities that now accept bitcoin donations in hopes of garnering support from new segments of the population. Related Link: Bitcoin Mining Lightbulbs Prove Cryptocurrencies Won't Be Left Behind In The IoT Still Some Risks The low transaction cost associated with bitcoin has been a major draw for charitable organizations, as the total amount a user donates goes directly toward the cause. However, critics say that bitcoin's volatility cancels out that benefit, as charities have to quickly change the donations into another currency to avoid major price swings. Story continues Image Credit: Public Domain See more from Benzinga Is Bitcoin Expanding Its Reach? Edible Marijuana Products Get The 'Okay' In Canada Google Takes To The Streets To Solve Cities' Problems © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Lucrazon Global Helps Merchants by Integrating Cryptocurrency With Bitcoin Payment Acceptance: IRVINE, CA--(Marketwired - May 4, 2015) - California-based Lucrazon Global (http://www.lucrazonglobal.com/), a fully integrated Ecommerce platform and Global Business Network designed specifically for Internet entrepreneurs, Work from Home and Network Marketing professionals, and businesses of any type, reinforces its services offered by accommodating encrypted digital currency Bitcoin payments. The integration of Bitcoins aims at protecting merchants from online fraud and other threats, and comes shortly after Californian Governor, Jerry Brown, passed a bill to approve Bitcoins as a legitimate form of currency for financial transactions in the state (source:http://cointelegraph.com/news/113235/bitcoin-becomes-legal-tender-for-transactions-in-california).
Cryptocurrency is a form of digital currency that is managed and utilized with the help of encryption techniques such as cryptography (source:http://www.investopeia.com/articles/forex/091013/future-cryptocurrency.asp). The technology is increasingly popular among ecommerce vendors who use it to process transactions and verifications with the help of networks. After initial security hiccups, Federal Reserve recently declared it a trustworthy alternative to paper money. The fact that cryptocurrency is irreversible allowsLucrazon Globalto protect paying customers against chargebacks -- a type of fraud that is possible through more conventional transaction methods like credit card payments.
Lucrazon Global's introduction of the encrypted currency comes at a favorable time that holds a lot of potential for international merchants in circumventing certain risks: According to an annual report by LexisNexis merchants incurred a loss of about $3.4 billion in 2011 through online fraud alone (source:http://btctheory.com/2013/10/30/fraud-chargebacks-and-Bitcoin/). Alex Pitt, CEO ofLucrazon Global, knows that chargebacks have been the bane of ecommerce ventures for years. These can be filed against a customer's billing statement on his credit card if a charge is disputed. Since there are no chargebacks in cryptocurrency, Lucrazon Global's incentive is designed to protect merchants from such malicious schemes thereby keeping transactions secure.
Bitcoins are originally bought from exchange companies by investors and traders by using valuable currencies. Online businesses that utilize the technology require customers to store the digital funds in online storage software such as eWallets, on their PCs, or on the web. Payments with the currency are enabled through "Pay with Bitcoin" options on these sites. In 2013, Bitcoins grew exponentially and have become a preferred currency for several types of ecommerce transactions. A number of online stores have adopted the currency as their payments of choice. Brands who have gotten on the Bitcoin trend include Target, Victoria's Secret, the car company Tesla, Zynga, Apple's App Store, Home Depot, Wikipedia, and Subway to name a few (source:http://www.Bitcoinvalues.net/who-accepts-Bitcoins-payment-companies-stores-take-Bitcoins.html). By offering Bitcoins as a payment option, Lucrazon Global now introduces the cryptocurrency to smaller stores and businesses.
A fully integrated e-commerce platform and Global Business Network, Lucrazon Global is designed specifically for Internet Entrepreneurs, Work from Home and Network Marketing professionals, and businesses of any type. Specializing in providing multi functional websites such as ecommerce stores, the company offers solutions like product inventories, integrated shopping carts, drop shipments, access to multiple suppliers, and real time account activation. The company has become a leader in ecommerce solutions by working closely with suppliers, manufactures, fulfillment centers centralizing opportunity making it simple for anyone to become an online business professional.
For more information or to become a Brand Partner, visit:http://www.lucrazonglobal.com/
Lucrazon Global's blog:http://lucrazonglobalnews.com/
Lucrazon Global Facebook:https://www.facebook.com/LucrazonGlobal
Lucrazon Global - Twitter:https://twitter.com/lucrazon
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=2815608Embedded Video Available:http://www2.marketwire.com/mw/frame_mw?attachid=2815611 || Will Greece's Financial Woes Ever End?: Negotiations between Athens and its creditors continued to drag on this week, despite what most believed would be a bank-breaking loan repayment coming due on Tuesday.
Somehow, Greece continued to scrape by without defaulting, despite having what most expect is a nearly empty vault. Comments from both sides have indicated that a resolution is nowhere in sight, as they remain at odds regarding several fundamental aspects of Greece's bailout agreement.
Out Of Cash?
On Tuesday, Greece wasable to repayits €750 million International Monetary Fund loan, but many believe the tide is quickly rising as more payments loom on the horizon.
This week's payment was meant to put leftist leader, Prime Minister Alexis Tsipras, in the difficult position of choosing between paying the nation's wages and pensions or repaying the loan, but the Greek prime minister avoided that conundrum by using Greece's own reserve funds at the IMF to make the payment.
Related Link:No Bailout Agreement Expected For Greece, Despite Looming IMF Payments
It remains to be seen whether or not Athens has enough cash in its reserve to pay public sector wages at the end of the month, and the nation is almost surely short the €1.5 billion needed to repay further loans in June.
What Now?
The increasingly dire financial situation in Greece is likely to help move negotiations for its bailout aid forward; however, so far it seems that Tsipras is unwilling to bend to the EU's will, despite his lack of funding.
Tsipras was elected on promises to reverse austerity cuts and get a better bailout deal, and he has remained adamant in his demands for more budgetary freedom. Despite that, Greek officials have said they are optimistic about reaching an agreement to release the next installment of bailout funding by the end of May.
Related Link:UBS Outlines Grexit Scenarios
Then It's Over?
Even if Greek officials and EU policymakers come to an agreement by the end of May, Greece won't be out of hot water.
The nation's bailout program expires at the end of June, meaning that Tsipras and the Syriza government will have to work with EU officials to extend the nation's funding again, bringing on an entirely new round of negotiations.
Image Credit: Public Domain
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || These 2 indie movies are going to give the summer blockbusters a run for their money: DOPE2 final (Open Road Films/"Dope") "Dope." You’ve seen “ Avengers: Age of Ultron, ” “ Mad Max: Fury Road, ” and “ Jurassic World. ” Though you concede they are all thrilling and visually stunning, you’re still searching for movies this summer with a little bit more … story. Thankfully there are two movies in theaters that can help feed that need. Alfonso Gomez-Rejon ’s “ Me and Earl and the Dying Girl ” and Rick Famuyiwa ’s “ Dope ” on the surface look like two very different movies, from where they're set to dialogue and characters. But they have a lot in common. me and earl and the dying girl1 (Fox Searchlight/"Me and Earl and the Dying Girl") "Me and Earl and the Dying Girl." Both films played at this year’s Sundance Film Festival and walked away with awards (for “Me and Earl” the prestigious Audience Award and Grand Jury prizes, and for “Dope” best editing), they both look at modern-day high-school life, and they have both been thrust in the middle of the summer blockbuster season (“Me and Earl” is in theaters; “Dope” opens Friday). Distributors Fox Searchlight (“Me and Earl”) and Open Road Films (“Dope”) are using the classic counter-programming maneuver in the hopes that audiences who aren’t into Hollywood blockbusters, or by mid-June are ready for something new, will give these indie darlings a try. This was a play Searchlight had success with when releasing the cult comedy “Napoleon Dynamite” in mid-June 2004. Building off the success of the film-festival circuit without a star or name director, the film had an impressive opening weekend take of $117,000 and went on to have a total domestic gross of over $44 million (the film’s budget was around $400,000). napoleon dynamite (Fox Searchlight) "Napoleon Dynamite." In its opening weekend “Me and Earl” took in similar numbers with over $196,000 . For this weekend, “Dope” is also getting creative in their purchase options, allowing tickets to be purchased via Bitcoin , making it the first time digital currency has ever been allowed for ticket sales. Story continues But strategic placement and gimmicks aside, the movies are strong enough to grab the attention of even the most dedicated Hollywood blockbuster moviegoer. In “Me and Earl and the Dying Girl,” we follow the senior year of outsider Greg (Thomas Mann). With a daily existence that includes staying friendly with all the different cliques at his Pittsburgh high school (but not committed to any) and making ultra-low-budget knocks-offs of classic films with his buddy Earl (RJ Cyler), Greg’s priorities change when he befriends Rachel (Olivia Cooke), a classmate who has recently been diagnosed with cancer. me and earl and the dying girl2 (Fox Searchlight/"Me and Earl and the Dying Girl") Thomas Mann and Olivia Cooke in "Me and Earl and the Dying Girl." The story has a been-there-done-that feel, but the style is a fresh one to the high-school dramedy genre with its creative use of stop-motion animation and high IQ in movie geekdom. “Dope” is set in the Inglewood neighborhood (known to those who live there as “The Bottoms”) of Los Angeles and follows another geek, Malcolm (Shameik Moore), and his two friends Jib (Tony Revolori) and Diggy (Kiersey Clemons). Unlike Greg and Earl, who have zero aspirations, Malcolm and his crew have high hopes for the future. Keeping away from the gang culture of South Los Angeles and completely obsessed with ’90s hip-hop, their main goal is to leave the 'hood and get into college, especially Malcolm, who has aspirations to attend Harvard. Dope1 final (Open Road Films/"Dope") Shameik Moore in "Dope." But things get complicated when Malcolm goes to the party of the neighborhood drug dealer and unknowingly leaves with drugs. Malcolm and friends then embark on an adventure through LA to get rid of the goods. If you listened to hip-hop in the ’90s, you will likely love “Dope.” It’s filled with nostalgic tracks from A Tribe Called Quest, Nas, Public Enemy, Digital Underground, and Naughty By Nature, curated by executive producer Pharrell Williams. They are perfectly placed and elevate the enjoyment of the story that’s part “Ferris Bueller’s Day Off,” part “Friday.” What both films exemplify is that movies with strong stories (and without massive explosions) can survive in the summer months. Whether the hook is geek culture, or a killer soundtrack, once you’re watching, it’s the excellent crafting of these characters by Gomez-Rejon and Famuyiwa that keep you engrossed for the next few hours. This weekend, take a break from the CGI-fueled blockbusters and check out one of these films instead. And if you need more convincing, here are the trailers for both films. More From Business Insider 'Jurassic World' has a ton of hit and miss ideas — but it's a wild ride For the first time a movie will accept Bitcoin for ticket purchases 'Jurassic World' just surpassed 'Avengers' for the highest-grossing opening weekend ever
[Random Sample of Social Media Buzz (last 60 days)]
Current price: 236.63$ $BTCUSD $btc #bitcoin 2015-05-17 01:00:03 EDT || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000005
Bittrex: 0.00000005
Average $1.2E-5 per #reddcoin
15:00:01 || In the last 10 mins, there were arb opps spanning 21 exchange pair(s), yielding profits ranging between $0.00 and $2,217.30 #bitcoin #btc || In the last 10 mins, there were arb opps spanning 15 exchange pair(s), yielding profits ranging between $4.27 and $1,244.00 #bitcoin #btc || In the last 10 mins, there were arb opps spanning 16 exchange pair(s), yielding profits ranging between $0.00 and $1,217.81 #bitcoin #btc || Current price: 244.55$ $BTCUSD $btc #bitcoin 2015-06-23 12:00:08 EDT || Stop: [Time=6/22/2015 2:00:39 PM, Action=BTC, StopPrice=19.54, DependsOn=56559]
http://hitechmaster.net/ || LIVE: Profit = $1,237.31 (37.80 %). BUY B13.60 @ $240.43 (#Bitfinex). SELL @ $246.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || $235.21 at 23:00 UTC [24h Range: $234.00 - $237.40 Volume: 3473 BTC] || In the last 10 mins, there were arb opps spanning 18 exchange pair(s), yielding profits ranging between $0.00 and $2,100.41 #bitcoin #btc
|
Trend: up || Prices: 258.62, 255.41, 256.34, 260.89, 271.91, 269.03, 266.21, 270.79, 269.23, 284.89
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2020-09-09]
BTC Price: 10242.35, BTC RSI: 37.87
Gold Price: 1944.70, Gold RSI: 52.01
Oil Price: 38.05, Oil RSI: 33.60
[Random Sample of News (last 60 days)]
CoinDesk 20 Update: OXT Is In, BAT Is Out: The CoinDesk 20 has made its first change since launching in July: Orchid (OXT), issued by Orchid Labs Inc., developer of virtual private network (VPN) software designed to be decentralized and open source, has replaced the basic attention token (BAT) issued by Brave Software Inc., developer of the Brave browser.
First rolled out two months ago, the CoinDesk 20 is a list of the digital assets that matter most to the market. We filter by consistent, verifiable volume, listing the 20 assets that have the most volume on trusted exchanges for two consecutive quarters. It was initially composed of exchange volume data gathered in Q4 of 2019 and Q1 of 2020. Since the launch, we’ve updated the list using data from Q1 and Q2 of 2020.
Related:Market Wrap: Bitcoin Hangs Around $10K; Locked DeFi Value Drops
Our goal with the CoinDesk 20 is to develop an objective method for filtering assets, not by their investment or speculative potential but by their currency with traders and investors. Our set of eight trusted exchanges, which provide the exchange volume data used to create the list, is conservative by design.
Orchid’s price pumped in the past month,benefiting from attention from David Portnoy, a publisher and media personality. It’s worth reiterating the dollar volume that put Orchid in the CoinDesk 20 preceded this pump. It’s possible it came in anticipation of Orchid’smobileanddesktopapps, released in July.
For investors learning about Orchid for the first time, inclusion in the CoinDesk 20 may signal it is an asset with some level of staying power in the market. Intelligent investors need that assurance before devoting time and resources to researching or trading a new asset.
In the weeks since the start of Q3, we gathered the requisite data on Orchid to populate its asset price page. There, in addition to the price graph, you’ll find volume, volatility, returns and a handful of on-chain metrics designed to provide a snapshot of the asset’s fundamentals, as well as CoinDesk’s news reporting and video content.
Related:Market Wrap: Bitcoin Tanks to $10.4K; ETH Market Dominance at 2020 High
We welcome your feedback on the CoinDesk 20 as a product. A detailed look at the methodology behind it is availablehere. Please contact CoinDesk Research with questions, comments, etc. You can reach us [email protected].
• CoinDesk 20 Update: OXT Is In, BAT Is Out
• CoinDesk 20 Update: OXT Is In, BAT Is Out || Marathon Patent Group Announces Purchase of 700 M31S+ ASIC Miners and Shipment of 660 S-19 Pro Bitmain Miners: Company Anticipates 2,060 Miners to be Operational in August, Producing 184 PH/s and Generating Positive Cash Flow Based on Current Bitcoin Prices LAS VEGAS, July 29, 2020 (GLOBE NEWSWIRE) -- Marathon Patent Group, Inc. (NASDAQ: MARA ) ("Marathon" or "Company"), one of the few Nasdaq listed cryptocurrency mining companies in the United States, today announced the purchase of 700 next generation M31S+ ASIC Miners from MicroBT. The miners are expected to arrive mid-August. Additionally, Bitmain has notified the Company that 660 of the 1,660 Bitmain S-19 Pro Miners previously purchased will be delivered in mid-August. Marathon’s Chief Executive Officer, Merrick Okamoto, stated, “In the past few months, we have heavily invested in our business through the purchase of now 3,020 next generation miners. We currently have 700 M31S+ miners operational producing 56 PH/s.” Okamoto continued, “Upon delivery and installation of the 1,360 miners due to arrive in August, the company will have 2,060 Miners operational, producing 184 PH/s. As a result, the Company's aggregate hashing power capacity would increase by 320% from the current level of 56 PH/s. Based on current Bitcoin prices, the company would expect to become cash flow positive. The 1,000 remaining S-19 Pro Miners due to arrive in the 4 th quarter will produce an additional 110 PH/s, which when installed will give the Company an aggregate Hashpower of 294 PH/s. 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, 2017. 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. Story continues Name: Jason Assad Phone: 678-570-6791 Email: [email protected] View comments || 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. Twitter Bitcoin Scam (Engadget) What happened? 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. cryptoforhealth.com 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. Story continues At that time, Twitter confirmed that it had opened an investigation into the hack, and one day later, the FBI confirmed that it was launching an investigation of its own. We detected what we believe to be a coordinated social engineering attack by people who successfully targeted some of our employees with access to internal systems and tools. — Twitter Support (@TwitterSupport) July 16, 2020 How did these accounts get hacked? 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 @TwitterSupport account 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 Motherboard a 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's interview 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 of Motherboard's sources 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. Twitter Bitcoin Scam How much did the hackers get away with? 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 to the address in question stands at 12.86874316 BTC, or $118,995.75. That figure dovetails with an account given to TechCrunch by 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. How are lawmakers reacting? 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 Dorsey calling 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's Brian Fung pointed 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 BBC notes 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. Recent updates 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 @TwitterSupport account 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 researcher Brian Krebs published 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 to The Hill and Financial Times correspondent Kadhim 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 Cuomo is 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. ) FBI confirms it is investigating the Twitter hacks pic.twitter.com/KHdcVTPiWq — kadhim (＾ｰ^)ノ (@kadhim) July 16, 2020 7/16/2020: @TwitterSupport added 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. ) Here’s an update addressing questions we’ve heard around passwords and account access specifically: — Twitter Support (@TwitterSupport) July 16, 2020 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 Cooper that the hackers were either “highly unimaginative or extremely restrained.” Another theory posits that the hackers were just kind of dumb: Sometimes hackers come across valuable access they don't know how to properly monetize. Just because they only made $100k from having access to almost every Twitter account doesn't necessarily mean there's a deeper hidden motive. Some hackers just aren't creative. — MalwareTech (@MalwareTechBlog) July 16, 2020 || Mastercard launches digital currency kit for central banks: Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism,subscribe today.
In the 10 years since Bitcoin came on the financial scene, central banks have quietly been dabbling in digital currencies of their own. Now,Mastercardhas unveiled a tool designed to simulate how those currencies would work in the real world.
The payments giant announced the project on Wednesday morning, calling it the Central Bank Digital Currencies Testing Platform—a bland title to be sure, but one likely to find favor with cautious central bankers.
For central banks, including the Federal Reserve, a purely digital currency—one not linked to coins or paper bills—would represent a step beyond the existing system of electronic money transfer. A central bank could, for instance, distribute money directly to consumers without relying on commercial banks as intermediary.
State-backed digital money also offers the potential for greater efficiency in payments and money transfers, letting merchants settle deals instantly, and avoid the current patchwork of banks and clearing houses, which can take days.
Mastercard’s platform—or “sandbox” in tech parlance—will let central banks issue digital versions of their currency in a controlled environment, and test how those currencies plug into existing bank and payment networks, and to see if they are practical for consumers to buy goods and services.
In an interview withFortune, Mastercard EVP Raj Dhamodharan said the company is already working with a number of central banks, and that it is inviting various third parties, from banks to tech companies, to join its testing platform.
The Mastercard initiative comes at a time of growing interest in digital currency among central banks. A 2018 survey by the International Monetary Fund, cited by theWall Street Journal, found government bankers are experimenting with the technology as a way to lower costs and to blunt the rise of private cryptocurrencies like Bitcoin. A morerecent surveyby the Bank for International Settlements found that 80% of the world’s central banks are engaged in some form of digital currency research.
The advent of state-backed digital currencies is also fraught with geopolitical significance. The People’sBank of Chinaison the cusp of launchinga digital yuan, which many believe will help China weaken the influence of the greenback in global trade. Meanwhile, the outgoing governor of the Bank of England, Mark Carney, speculated last year that a group of companies could back a new digital currency to challenge the dollar’s role as the preeminent reserve currency.
Not to be outdone, a consortium of companies led byFacebookis working on a new form of digital money called Libra, which is pegged to traditional currencies, and could offer the social network’s billions of users a new way to shop and pay.
Projects like Libra and, especially, the digital yuan also pose significant privacy risks, as the networks on which the currencies travel can also track who is spending money and where.
According to Dhamodharan, Mastercard is sensitive to privacy issues and is building its testing kit to reflect that. He declined to provide any details about the software Mastercard is using to deploy its test network, other than to say it involvesblockchain—the same technology on which Bitcoin is built.
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This story was originally featured onFortune.com || The Crypto Daily – Movers and Shakers – August 24th, 2020: Bitcoin, BTC to USD, slipped by 0.17% on Sunday. Following a 1.37% gain on Saturday, Bitcoin ended the week down by 2.19% to $11,663.0.
It was a mixed start to the day. Bitcoin rose to an early morning high $11,709.0 before hitting reverse.
Falling short of the first major resistance level at $11,787, Bitcoin slid to a late morning intraday low $11,538.0.
Steering clear of the first major support level at $11,465, Bitcoin struck a late intraday high $11,736.
Falling short of the first major resistance level at $11,787, Bitcoin fell back to $11,650 levels before finding support.
The near-term bullish trend remained intact, supported by the latest move through to $12,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.
Across the rest of the majors, it was a mixed day for the majors on Sunday.
Litecoin and Stellar’s Lumen rose by 0.53% and by 0.60% to buck the trend on the day.
It was a bearish day for the rest of the majors.
Cardano’s ADA (-3.17%), Monero’s XMR (-3.73%) and Tron’s TRX (-3.52%) led the way down.
Binance Coin (-1.71%), Bitcoin Cash ABC (-1.12%), Bitcoin Cash SV (-1.57%), EOS (-1.36%), Ethereum (-1.23%), and Tezos (-1.85%) also struggled.
Ripple’s XRP (-0.42%) saw modest losses on the day.
For the week, it was a bearish for the majors, however.
Tezos (-17.18%), EOS (-14.44%), Tron’s TRX (-13.82%), Bitcoin Cash SV (-13.10%), Cardano’s ADA (-12.59%), and Stellar’s Lumen (-10.86%) led the way down.
Binance Coin (-7.18%), Bitcoin Cash ABC (-6.49%), Ethereum (-9.92%), Litecoin (-5.22%), and Ripple’s XRP (-6.52%) also struggled.
Monero’s XMR fell by just 0.22%, however.
In the week, the crypto total market rose to a Monday high $384.00bn before sliding to a Saturday low $338.58bn. At the time of writing, the total market cap stood at $349.94bn.
Bitcoin’s dominance fell to a Monday low 59.97% before rising to a Wednesday high 62.00%. At the time of writing, Bitcoin’s dominance stood at 61.41%.
At the time of writing, Bitcoin was down by 0.31% to $11,627.3. A bearish start to the day saw Bitcoin fall from an early morning high $11,667 to a low $11,605.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was also a bearish start to the day.
At the time of writing, Stellar’s Lumen was down by 1.46% to lead the way down.
Bitcoin would need to move through the pivot level at $11,646 to support a run at the first major resistance level at $11,753.
Support from the broader market would be needed, however, for Bitcoin to break out Sunday’s high $11,736.0.
Barring an extended crypto rally, the first major resistance level and Sunday’s high would likely cap any upside.
In the event of a crypto breakout, Bitcoin could test the second major resistance level at $11,844 before any pullback.
Failure to move through the $11,646 pivot level would bring the first major support level at $11,555 into play.
Barring an extended crypto sell-off, however, Bitcoin should avoid sub-$11,500 and the second major support level at $11,448.
In the event of an extended sell-off, Bitcoin could test the third major support level at $11,250 before any recovery.
Thisarticlewas originally posted on FX Empire
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• The Weekly Wrap – Private Sector PMIs, Monetary Policy, and Geopolitics Drove the Majors || New Malware Spotted in the Wild That Puts Cryptocurrency Wallets at Risk: The Takeaway: Anubis is a new malware that can target cryptocurrency wallets and other sensitive data. It first became available for sale in darkweb markets in June, and Microsoft has now seen limited attack campaigns using it. Experts recommend not visiting sketchy websites or opening strange or suspicious attachments, links or emails. Increasing interest cryptocurrencies, such as we’ve seen in recent months, usually sparks interest in new users who can be particularly susceptible to these kinds of attacks. A new form of malware called Anubis is now out in the world after being circulated for sale on cybercrime dark markets in June, according to Microsoft Security Intelligence. Using forked code from Loki malware, Anubis can steal cryptocurrency wallet IDs, system info, credit card information and other data. Importantly, this malware is distinct from a family of Android banking malware also called Anubis. It joins a growing list of malwares that look for vulnerable cryptocurrency stashes. Related: Thousands of Microsoft Servers Infected by Crypto-Mining Botnet Since 2018, Says Report “The malware is downloaded from certain websites. It steals information and sends stolen information to a C2 (command and control) server via an HTTP POST command,” said Tanmay Ganacharya, partner director of security research at Microsoft. HTTP Post is basically a data request from the internet. It is also used when you’re uploading a file or submitting a completed web form. See also: Hacker Stole 1,000 Traders’ Personal Data From Crypto Tax Reporting Service “When successfully executed it attempts to steal information and sends stolen information to a C2 server via HTTP POST command,” he said. “The post command sends back sensitive information that may include username and passwords, such as credentials saved in browsers, credit card information and cryptocurrency wallet IDs.” Avoiding Anubis: What we know Related: Monero Hacker Group 'Outlaw' Is Back and Targeting American Business: Report Story continues Parham Eftekhari, executive director of the Cybersecurity Collaborative, a forum for security professionals, reviewed the images of code tweeted out by Microsoft and said not much information about the Windows Anubis malware has been released. But the Loki bot (from which the Anubis code was taken) was spread via social engineering emails with attachments with “.iso” extensions. These messages masqueraded as orders and offers from other companies and were sent to publicly available company email addresses, sometimes from a company’s own site. When it comes to avoiding Anubis, Eftekhari said people should not open any attachments or emails that they are not expecting or that seem unfamiliar. “They should deploy antimalware applications on their systems and scan and update frequently,” he said. “Finally, when accessing sensitive accounts such as banking applications, they should employ secure or privacy browsers which may prevent malware from recording keystrokes or screenshots.” Ganacharya said that like many threats, this new malware tries to stay under the radar, so it doesn’t have obvious visual clues. Users can check for the presence of suspicious files and running processes (for example, ASteal.exe, Anubis Stealer.exe) as well as suspicious network traffic. See also: Binance and Oasis Labs Launch Alliance to Combat Crypto Fraud and Hacks For its part, Microsoft has updated its Defender Advanced Threat Protection (Microsoft Defender ATP) to detect Anubis malware and will be monitoring it to see if campaigns begin to spread. Microsoft Defender ATP uses AI-powered cloud-delivered protection to defend against new and unknown threats in real time Other users should be wary of visiting unknown or suspicious websites, or opening suspicious emails, attachments and URLs, Ganacharya said. Additionally, users can turn on unwanted app blocking in Microsoft Edge to get protection against cryptocurrency miners and other software that can affect the performance of devices. But for security professionals there are telltale signs when analyzing a system. One of these are indicators of compromise, which are indicators a system has been breached. These can include unusual outbound network traffic or unusual activity on an account. Malware and cryptocurrency While malware, or software designed to be malicious, isn’t new it’s increasingly being brought to bear on the cryptocurrency community. “Over the past three years we have been seeing an increased number of malwares that target user computers that, aside from trying to record/steal passwords, are specialized in harvesting the victim’s system for cryptocurrencies,” said Paolo Ardoino, CTO of Bitfinex. Ardoino said tech-savvy holders of cryptocurrency usually use a hardware wallet and store their seed (the information that generates and recovers a wallet) offline. Less-experienced users, though, due to the fear of losing the seed for their wallet, might keep it stored on their computer. Malware is then able to access the password manager or other online storage site while the user is accessing it, and copy and paste passwords. See also: Social Engineering: A Plague on Crypto and Twitter, Unlikely to Stop Another attack that malware can execute, according to Ardoino, is seeing if the computer runs a blockchain node that has an unprotected wallet file. Even if that wallet file has a password, if the malware involves a keystroke recorder (or keylogger) it can capture whatever a user on the computer types. He said there are many nuances, but as cryptocurrency gets closer to mass adoption, sloppy custodial practices could make people’s cryptocurrency wallets easier to target than banks or even credit cards. Upticks in bitcoin ( BTC ) and ether ( ETH ), like those we’ve seen in recent months, could spark interest in new users who can be particularly susceptible to these kinds of attacks. Pandemic poses new vulnerabilities The threat of malware has only increased as people have been pushed toward working and living remotely during the coronavirus pandemic, increasing the amount of time they spend online and the number of systems they use. See also: These Illicit SIM Cards Are Making Hacks Like Twitter’s Easier According to a recent report from Malwarebytes, a company specializing in combating malware, programs such as AveMaria and NetWiredRC, which allow for breaches like remote desktop access and password theft, have seen huge increases in use during the pandemic. They found AveMaria saw a bump of 1,219% from January to April compared to 2019; NetWiredRC observed a 99% increase in detections from January to June, primarily targeting businesses. Is the obvious defense the best defense? Paul Walsh, CEO of the cybersecurity company MetaCert, said that given the attack vectors identified, traditional models for identifying and protecting against these attacks are misguided. The vast majority of malware is delivered via email phishing and malicious URLs, which outnumber dangerous attachments (like Anubis) five to one, according to Walsh. “Most security issues that involve dangerous URLs go undetected and, therefore, [are] not blocked” he said. See also: YouTube’s Whac-a-Mole Approach to Crypto Scam Ads Remains a Problem There are thousands of security vendors in the world, but only a small number own their own “threat intelligence systems” – a fancy term for a big database of threats and potential threats. Those companies license that data to other companies. While Walsh’s company Metacert has a threat intelligence system, they might have URLs that Google, for example, won’t. It’s a patchwork solution at best. And if people are tailoring spear-phishing attacks for a specific company, the damage is usually done quite quickly, before a security database or firm might be aware a tailored website exists. The lifespan, or the time frame within which a phishing attack has accomplished its goal, is about seven minutes, said Walsh. But security companies may take up to two or three days to identify and vet new phishing attacks, particularly if they are tailored for a company or individual. Walsh says strong passwords and two-factor authentication are important. Yubikey, essentially a hardware version of two-factor authentication, is one step up, but it’s not supported by all websites. Related Stories New Malware Spotted in the Wild That Puts Cryptocurrency Wallets at Risk New Malware Spotted in the Wild That Puts Cryptocurrency Wallets at Risk || Blockchain Bites: Square’s Revenue Surge, Eth 2’s Final Testnet, c-Lightning’s Latest Update: Square’s bitcoin business is booming, lawmakers are batting for crypto staking protocols and a blockchain-based voting system in Russia may have been hacked. You’re reading Blockchain Bites , the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here . Top shelf Bitcoin Revenues Square’s bitcoin business is booming. Announcing Tuesday, the San Francisco payments company said revenue made from selling bitcoin to Cash App customers during the second quarter came to a total of $875 million – up 600% year on year. Square stresses it only takes a “small margin” selling bitcoin to customers, but Q2’s results show it made $17 million profit – an increase of 711% year-on-year. While bitcoin made up only 5% of Square’s revenue at $34 million in Q1 2018 (its first full quarter), it came to $65.5 million in the same quarter in 2019. Square Crypto, a subsidiary, has also sponsored Lightning developer Lloyd Fournier. Related: First Mover: Bitcoin Rises More in One Day Than Stocks Have Gained All Year Taxing Staking Four congressional lawmakers wrote a letter to the Internal Revenue Service Wednesday, asking the U.S. tax agency to ensure holders of staked crypto don’t face tax liabilities for receiving block rewards before they sell their new tokens. “It is possible the taxation of ‘staking’ rewards as income may overstate taxpayers’ actual gains from participating in this new technology,” the letter said. “It could also result in a reporting and compliance nightmare, for taxpayers and the Service alike.” Each block could be treated as a taxable event, creating headaches for filers and the IRS alike. The lawmakers, chairmen of the Congressional Blockchain Caucus, said staking rewards resemble both rental income and interest payments. Story continues Sophisticated Engineering The teenager arrested for allegedly masterminding the recent Twitter hack gained access to the platform by “socially engineering” a Twitter employee, according to a government affidavit and the company’s internal investigation. Social engineering is a broad term that encompasses many methods of exploitation including bribery, coercion, phishing and SIM swaps. Haseeb Awan, CEO of Efani, which protects against SIM swap attacks, estimated around 1,000 people fall victim every day, and the exploits are getting more sophisticated. In many cases, perpetrators go uncaught, and victims frequently do not come forward, making the arrests in the Twitter hack the exception to the rule. Blockchain Breached? Hackers are reportedly selling the personal data of more than a million Russians who voted electronically, using blockchain technology, during the recent constitutional amendment process. Over 1.1 million data points were stolen and put on sale for $1.50 each on the online forums, though authorities deny the hack. The online voting system, based on Bitfury’s open-source Exonum blockchain and built with the help of Kaspersky Lab, was previously reported to have poor data protection. Journalists were able to decrypt people’s votes as well as pull passport numbers out of a weakly-protected file posted online by the authorities, a Russian media outlet Meduza wrote. DeFi Development The Chicago DeFi Alliance (CDA) is launching one of the first accelerator programs for decentralized finance (DeFi) startups beginning in August. The program is modeled on Silicon Valley’s Y Combinator program and will invest $120,000 in each participating team in exchange for future token purchases. Volt Capital co-founder Imran Khan and CDA partner Qiao Wang will lead the eight-week program for early-stage startups, plus a fast-track program to introduce more established startups to relevant experts. “DeFi has all the fundamental qualities to become a real, trusted alternative to the legacy financial system,” Wang said. Quick bites Dark web vendor and pharmacist charged with trafficking drugs worth $270 million in bitcoin . SEC seeking “smart contract” tracing tool that can spot security vulnerabilities. Genesis’ crypto lending rebounded in Q2 . Missouri man pleaded guilty to trying to buy chemical weapons with bitcoin . At stake Related: First Mover: Ethereum’s Transition to Staking Could Push More Traders to Use Derivatives In the mainstream financial press there is a lot of attention given to the inflationary risks of the Federal Reserve’s bout of money printing. As Pantera Capital CEO Dan Morehead said, the United States has printed more money in June than in its two centuries of existence. Putting this in context, over the course of the pandemic the Fed has nearly doubled its balance sheet to about $7 trillion. Some pundits, such as professor of economics Antony Mueller, believe the reverse case – that the economy is deflating – is more likely in the short term. Deflation is when the rate of growth of demand is lower than the growth rate of production. An under-utilized workforce reduces not only productivity, but also demand: because there’s less money to spend. It’s this same depressed workforce that is likely keeping inflation, or hyperinflation, in check, according to Goldman Sachs economist Jan Hatzius. “The modern monetary policy suffers from a deep fear of deflation and tries to avoid it at any cost,” Mueller said. “There are various effects at work that promote an automatic recovery from a deflationary shock.” He cited ZIRP and NIRP (zero interest rate policy and negative interest rate policies) and quantitative easing as two tools in the Fed’s toolbox. These same tools often can often prevent a natural business correction and lead the economy to inflate. If that’s the case, and the workforce remains under lockdown, the states may be heading to a period of stagflation instead, where inflation rises without growth. Ending on a pragmatic note, Mueller said reliable economic prognosis is difficult and expectations are volatile. There is a degree of trust in economists and government actors to make forward-directed decisions, and “while trust can easily be destroyed, it is hard to re-establish.” Good thing there’s a trustless hedge. Market intel Sustained Cycle After wild Sunday action that saw the price of the world’s oldest cryptocurrency fall as low as $10,050 on spot exchanges like Coinbase, bitcoin is trading relatively flat, at around $11,200 Tuesday. “The asset is trading in a narrow range of $11,080 to $11,220,” said Constantine Kogan, a partner at crypto fund of funds BitBull Capital. “To continue last week’s rally, bitcoin needs to overcome the resistance level, which is in the $11,300- $11,400 region,” he added. Ethereum 2.0: How It Work and Why It Matters CoinDesk Research’s 22-page report covers the long-awaited Ethereum 2.0, from its technology and development road map to potential market impact as the foundational upgrade to the world’s largest smart contract platform. Ethereum developers present commentary about the benefits and risks this new technology may bring. Download the free report. Tech pod …See, Lightning! Blockstream released its latest version of c-lightning, an implementation of the Lightning Network. Dubbed “Rat Poison Squared on Steroids,” referencing Warren Buffett’s denouncement of Bitcoin, the update has added multi-part payments, an easier way to plug in crime-sleuthing watchtowers and also laid the groundwork for a tracking tool that could make filing taxes easier. Final, Official Test Ethereum 2.0’s final and official public testnet, Medalla, went live, according to the Ethereum Foundation. Medalla is the final testnet before the launch of the Eth 2.0 network, which is tentatively expected by year’s end. Over 20,000 validators had joined the network within a few hours of launch, staking some 650,000 ether (ETH), according to the Beaconcha.in block explorer. Podcast corner No Hope? Bobby Goodlatte, founder of seed investment firm Form Capital and early Facebook employee, joins NLW to discuss the perils of social media and whether these platforms can be redeemed. Who won #CryptoTwitter? Related Stories Blockchain Bites: Square’s Revenue Surge, Eth 2’s Final Testnet, c-Lightning’s Latest Update Blockchain Bites: Square’s Revenue Surge, Eth 2’s Final Testnet, c-Lightning’s Latest Update || Qtum Launches Multi Million Dollar Developer Fund and Goes All in on Defi: Blockchain platform Qtum has announced a bumper $1M fund to spur third party developers to create defi applications on Quantum Chain. Qtum’s architecture overlaps with Ethereum significantly; both networks use the EVM and Solidity programming language, making it easy for devs to jump ship. Qtum founder Patrick Daiannouncedthe initiative and pledged up to $5 million in total if there is sufficient demand.QTUMis up 8% in the last 24 hours, signaling that the crypto market has caught on to the network’s rallying cry to defi devs and the influx of new users this may bring.
As Ethereum’s network fees have soared and the mempool filled, defi users have been frustrated by their inability to perform microtransactions and to interact with the chain for tasks like sending stablecoins, trading on DEXs, and locking assets into liquidity mining protocols. Other chains, including Qtum, have higher throughput and lower fees but lack Ethereum’s network effects and developer community. To solve this chicken and egg problem, Qtum’s defi fund will bootstrap development while giving Solidity programmers an incentive to migrate.
While Ethereum is due to upgrade its network to ETH 2.0, development progress has been slow. This week, a bug on the ETH 2.0 testnet caused the blockchain to fork into multiple chains, each recording a different network state. The fault has been partially attributed to reliance on centralized cloud servers provided by Google (NASDAQ:GOOGL) and Cloudflare (NYSE:NET).
In a blog post on August 17, Qtum presented its case for being a moresuitable framework for defi development. It lists a number of advantages that Qtum holds over rival chains including compatibility with ETH’s smart contract ecosystem, and Neutron middleware compatibility that enables other programming languages to be used to code smart contracts. WASM, RISC-V, and the x86 virtual machine developed by Qtum can all be utilized on its UTXO-based blockchain.
Qtum can claim to have been hosting defi long before the term was coined; as far back as 2017 the stable cryptocurrency QCash was issued on Quantum Chain. Now, the blockchain’s architects are determined to accelerate the growth of defi on Qtum. The Quantum Chain Foundation will provide development funding for individuals and teams interested in building on Qtum, allocating funds in accordance with the size, nature, and value of the project in question.
While Qtum and Ethereum are bonded by the same EVM and smart contract language, there are some key differences between the pair. For one thing, Qtum uses the UTXO model that was popularized by Bitcoin, whereas ETH deploys an account-based system for tracking on-chain addresses. In addition, Qtum is a PoS chain, while Ethereum’s transition to Proof of Stake is still a work in progress. Features unique to Qtum include a Decentralized Governance Protocol (DGP) that enables specific blockchain settings, such as the block size, to be modified by making use of smart contracts.
Defi’s exponential growth has taken even its greatest proponents by surprise. More than$6.3 billionis now locked into defi protocols on Ethereum, and$500M of BTCis represented on ETH. In the last 30 days, network fees on Ethereum have exceeded Bitcoin and are currently outstripping Bitcoin by 4:1. Switching some of that business to faster, more scalable chains will bring relief to defi users frustrated by being priced out of interacting with decentralized finance, while freeing developers to deploy applications that are not constrained by throughput and gas costs. The onus is now on Qtum to show that anything Ethereum can do, it can do better. || Blockchain Bites: Binance’s Bitcoin Mining, ConsenSys’ Legal Trouble and Why Politicians Blame Twitter, Not Bitcoin: In the aftermath of the Twitter hack, lawmakers are targeting lax cybersecurity, not Bitcoin.
Binance is looking to consolidatebitcoinmining in Russia, ConsenSys is being accused of stealing intellectual property and a celebrated comic book artist will be hawking his wares on the Ethereum blockchain.
You’re readingBlockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’snewsletters here.
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Mining ConsolidationBinance is looking toconsolidate more bitcoin mining hashrateto its pool in Russia and the Central Asia region. The world’s largest crypto exchange is deploying a physical server node for its pool at BitRiver, the largest bitcoin mining hosting provider in Bratsk, Russia. The move would give miner owners at BitRiver who choose to switch to Binance a better connection and direct route to its mining pool, the two firms said in an announcement Friday. In return, Binance would gain exposure and access to customers who run their machines at BitRiver, which currently operates mining facilities at a capacity of 70 megawatt (MW) out of potential capacity of 100 MW.
ConsenSys AccusedIn a new lawsuit, Ethereum incubatorConsenSys is accused of abusing its position of trust as an investorto access trade secrets and create a rival offering. BlockCrushr, a payments app, said it received a $100,000 investment from ConsenSys and had 20 in-depth discussions with the incubator. Now, the startup says its intellectual property was misappropriated to build ConsenSys’s own payments system Daisy Payments, since rebranded to CodeFi. Plaintiffs filed two counts of misappropriating trade secrets and one count of a breach of contract, and are suing for damages.
CBDC in ActionA senior figure at the Bank of Thailand has confirmed it isalready using a central bank digital currency(CBDC) for transactions with some businesses. Vachira Arromdee, the central bank’s assistant governor, told reporters Wednesday the bank plans to expand the use of the digital currency among large businesses, The Nation reported. It’s unclear what businesses are already using the digital currency; transactions with the Hong Kong Monetary Authority will be conducted with the CBDC from September, Arromdee confirmed.
Blockchain BlueprintBeijing released a blueprint for its plans to become a blockchain hub by 2022. The 145-page details 12 potential areas for blockchain implementation, including airports, customs and small businesses,Decrypt reports.The municipal government also aims to create a fund dedicated to supporting local blockchain startups. The Blockreports,“140 government services already use blockchain applications, which include data sharing, collaborative business management, and electronic certifications.”
Related:Twitter Hacker Is Mixing Bitcoin Loot Using a Wasabi Wallet, Elliptic Says
We’re All Comics in CryptoNoted comic book illustratorJose Delbo is releasing limited-edition art on MakersPlace,a blockchain-powered market for rare and collectible digital art, later this month. The listing includes 250 copies of a digital comic book and a one-of-a-kind digital Superman artwork by Delbo. MakersPlace uses Ethereum to verify the artworks and provide a digital signature from Delbo, who is also hosting a chat in Decentraland.
• BlockFi hires formerDeutsche Bank and Barclays alumas general counsel
• Crypto wallet provider Sylo targetsgrowing India marketthrough exchange partnership
• Binance is not authorized to operate in Malaysia, says the country’s financial regulator (The Block)
n the aftermath of the Twitter hack, lawmakers areblaming lax cybersecurity,not Bitcoin. Following the hack, which Twitter says affected130 accounts,Sen. Josh Hawley (R-Mo.), vocal critic of tech platforms, fired off an open letter to CEO Jack Dorsey.
The event, Hawley said, “may represent not merely a coordinated set of separate hacking incidents but rather a successful attack on the security of Twitter itself.”
Sen. Ron Wyden (D-Ore.) also took aim at Twitter’s architecture. In a statement, he sounded off on the fact that users’ direct messages (DMs) lack end-to-end encryption.
“This is a vulnerability that has lasted for far too long, and one that is not present in other, competing platforms. If hackers gained access to users’ DMs, this breach could have a breathtaking impact for years to come,” Wyden said. Wyden revealed he had met with Dorsey privately in 2018 and discussed implementing this privacy feature.
While the hack only made off with approximately $120,000, it will persist as a lasting blight on centralized internet platforms for years.
In view of Twitter’s unofficial role within politics and media as the broadcaster of all broadcasts, Rep. Frank Pallone (D-N.J.) said the hack could have had “major consequences” on elections. It’s a view shared by others.
“With more than 300 million users, Twitter is a primary source of news for many, making it a target for bad actors. This type of hack by con artists for financial gain can also be a tool of foreign actors and others to spread disinformation and – as we’ve witnessed – disrupt our elections,” New York Gov. Andrew Cuomo said.
With afederal investigationunderway, “the hack is likely to continue to ratchet up pressure on social media companies, which are already facing scrutiny over content moderation, disinformation and foreign interference,” CoinDesk reports.
But that doesn’t mean we’re any closer to adecentralized alternative.As Start9 Lab’s Matt Hill put it, the hack “is yet another wake-up call. And like most wakeup calls, it will be greeted with a snooze button and a growing sense of anxiety.
First MoverThe notoriouslyvolatile bitcoin slid just 0.8%to about $9,100 on Thursday, following the largest social media hack in recent memory, which involved an amateurish crypto scam. That’s in a market where it’s not uncommon for prices to swing 8% in a day. “It’s a non-event for price,” Matt Blom, head of sales and trading for the cryptocurrency firm Diginex, told First Mover in an email. The reasons for the non-event revolve around the contradictory and mostly-psychological readings of the event. Little in bitcoin was stolen, all publicity is good publicity and the hack shows how easy it is to track stolen crypto. Maybe most salient: Bitcoin is worth stealing.
Your Prime Membership Should Be TokenizedJeff Dorman, a CoinDesk columnist and chief investment officer at Arca, thinksAmazon Prime membership should be tokenized.Tokenization offers the clearest path to show digital ownership and maintain property rights, he said, but it also offers incentives for token owners to maintain, develop and propagate their platforms. In a sense, it’s the easiest way to link shareholders and users of a platform together. “This is the only path where capitalism and socialism can converge, and we’re seeing it happen in real time. Debt, equity and tokenized digital assets will all have a place in an investor’s portfolio and, more importantly, in customers’ portfolios. The lines are likely to blur as investors become active participants in the bootstrapped growth of the companies they love,” he writes.
• Blockchain Bites: Binance’s Bitcoin Mining, ConsenSys’ Legal Trouble and Why Politicians Blame Twitter, Not Bitcoin
• Blockchain Bites: Binance’s Bitcoin Mining, ConsenSys’ Legal Trouble and Why Politicians Blame Twitter, Not Bitcoin || Twitter Hack 2020 Was Probably Done by a Bitcoiner – But Not a Savvy One: A cyberattack against Twitter has sparked widespread debate about tech industry regulations and borderless money. So far the scam has garnered $120,000 worth of bitcoin by tweeting about a fake giveaway campaign. Verified Twitter accounts briefly lost the ability to post Wednesday, which inspired one New York magazine columnist to tweet that making cryptocurrency “illegal” would “prevent this sort of thing.” Click here for CoinDesk’s full coverage of the Twitter hack . Related: Twitter Doesn't Need Web 3.0 to Solve Its Identity Problem Missouri Republican U.S. Sen. Josh Hawley promptly published a public letter to CEO Jack Dorsey, saying Twitter should work with the Justice Department and the Federal Bureau of Investigation to address security issues. By Thursday morning, many authentic Twitter accounts were no longer able to tweet bitcoin addresses at all, although QR codes still worked. “As much as I can tell by the evidence I see right now, the attackers did not understand the value of the information that they had,” ClearSky CEO Boaz Dolev told CoinDesk. “We need to find a way to build a more resilient audience that won’t believe anything they see in a certain format is true. It’s a new era where we need new tools to understand what is true.” That said, with an audience reach of over 375 million followers, the hacked accounts only ensnared 421 bitcoin transactions, with only 17 of those transactions valued above $1,000. Roughly half of the transactions hailed from North American exchange accounts . Whoever is behind the Twitter Hack of 2020 , which collected bitcoin by hijacking the accounts of everyone from Barack Obama to Elon Musk, Dolev said it doesn’t appear to be a state actor or a terror group. Related: First Mover: Why Bitcoin Traders Couldn't Give a Sat About the Twitter Hack So far the evidence suggests the attackers were well-versed in crypto culture , using inside jokes like spending up to 6.15 bitcoin , a popular meme reference, and tweeting about paid Telegram groups . Story continues “Based on the history of the first destination address of the CryptoForHealth scam addresses, the scammers have a history of gambling on BitMEX and Coinbase usage,” said the privacy-centric team behind Samourai Wallet . Misinformation And yet, despite clearly being a crypto veteran, the attackers didn’t use some of the best bitcoin privacy tech available. Samourai Wallet said so far none of the 12.8 BTC appear to have been mixed with the firm’s WhirlPool tool nor any other non-custodial CoinJoin software. Instead, the evidence suggests the hackers have used centralized exchange accounts, like BitMEX, in the past. The crypto startup CryptoQuant tweeted “4.8 BTC went into the mixer.” But evidence from the analytics firm Quantstamp shows the illicit funds have not been used with any non-custodial mixing or CoinJoins . To Quantstamp CEO Richard Ma, this suggests an unsophisticated attacker because it will be hard to liquidate these funds. “The hacker used a single address, which likely reduced the hacker’s earnings by making it easier to trace,” Ma said. “Many exchanges including Coinbase, Kraken and Gemini have already blacklisted the address as well as the derivative addresses as the hacker seeks to exit with the funds.” CryptoQuant CEO Ki Young Ju promptly responded to a direct message from CoinDesk clarifying this blockchain data may suggest use of a “centralized mixing wallet.” “The transaction patterns look like mixing because this wallet has multiple unknown tx inputs from one-time used wallets,” he said. But after further investigation, he replied again that it was a mistake. “I sincerely apologize for giving the wrong info,” Young Ju said in a message. Only a sophisticated user would notice this data about “the mixer” was described incorrectly and that the hack was not affiliated with any popular mixing wallets or software projects. Bálint Harmat, co-CEO of the Wasabi Wallet maker zkSNACKs , said, “We took a quick look at the addresses. They are not related to Wasabi CoinJoins as of now.” Even using the same bitcoin addresses, experts may incorrectly interpret the data. Both Ma and the Samourai Wallet team described the bitcoin transactions as simple, sometimes even a single hop. In the end, all parties agreed there is no evidence of mixing. Broader implications As Twitter users struggle to regain full access to the platform and protect their data, there’s no way for the social media company to prioritize millions of issues at once. Legacy brands and celebrities may have the resources to manage public broadcasts but few citizen journalists do. ClearSky’s Dolev said the most interesting implications of the attack won’t be related to bitcoin itself. It will be how this impacts the communications infrastructure on which so many markets, including crypto markets, rely. “We can learn a lot about what banks are doing to protect themselves from fraud, and there’s a lot of similarity between fraud and this type of action,” Dolev said. “We’ll have to see what Twitter is going to do to secure accounts and also what Facebook and other social networks will do as well.” Will Foxley contributed reporting. Related Stories Twitter Hack 2020 Was Probably Done by a Bitcoiner – But Not a Savvy One Twitter Hack 2020 Was Probably Done by a Bitcoiner – But Not a Savvy One
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 10363.14, 10400.92, 10442.17, 10323.76, 10680.84, 10796.95, 10974.91, 10948.99, 10944.59, 11094.35
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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 2022-08-15]
BTC Price: 24136.97, BTC RSI: 58.66
Gold Price: 1781.40, Gold RSI: 53.89
Oil Price: 89.41, Oil RSI: 38.83
[Random Sample of News (last 60 days)]
Bitcoin Miner Core Scientific Gets $100M Equity Financing Despite Bear Market: Core Scientific (CORZ), the largest bitcoin (BTC) miner by hashrate, or total computing power, has signed an agreement with investment bank B. Riley to issue up to $100 million of shares to the bank over two years to enhance liquidity. Core Scientific has the right but no obligation to issue these new shares, subject to some limitations and conditions, according to a statement . The company plans to use this additional funding to bolster its balance sheet and help the miner expand, Core CEO Mike Levitt said in the statement. The deal comes as a crypto bear market hammers shares of the publicly traded miners. Stocks of some of these publicly traded miners, including Core, have fallen anywhere between 50% to 80% this year. The miner has also issued B. Riley 573,381 shares of common stock as consideration for B. Rileys commitment to purchase Core Scientific shares. Core has been raising cash by selling some of the bitcoin it has been mining. Last month, it sold 7,202 bitcoins at an average price of $23,000 to raise about $167 million. The miner said it intends to use the proceeds from the sales mainly for payments toward ASIC servers, capital investments in additional data-center capacity and debt repayments. Read more: Crypto Miners Face Margin Calls, Defaults as Debt Comes Due in Bear Market || Brazilian Fintech PicPay to Launch Crypto Exchange, Real-Tied Stablecoin: This article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney , one of Brazil's leading financial news publications. Follow CoinDesk Brasil on Twitter . PicPay, a Brazil-based digital payments app, plans to launch a crypto exchange and a Brazilian real-tied stablecoin in 2022, the company announced Monday. The exchange will provide access to bitcoin (BTC), ether (ETH) and Paxos USDP stablecoin, the company said in a statement, adding that the development of its stablecoin will allow users to pay, transfer and store that cryptocurrency as early as 2022. PicPay will enter the crypto market to lead its popularization not only as an investment, but also as a way to decentralize payments and other financial services, Anderson Chamon, vice president of technology and products at PicPay, said in a statement. The company was founded in 2012 as a digital wallet, but later mutated into a payments app offering a financial marketplace, among other services. The platform has more than 65 million users, of which 30 million are active. PicPay has also created a dedicated crypto business unit, Chamon said, adding that it plans to hire new crypto and Web3 talent to join that team. According to PicPay, the retail crypto market is already very large in Brazil, evidenced by the fact that investors double the number of stock investors, the company said based on a survey conducted by local media outlet G1. The company added that despite the drop in the crypto market, its technological proposition is still the same. We believe that cryptocurrencies will grow again as new ways of using them appear and become commonplace, it said. The entrance of PicPay into the crypto market accompanies that of other major fintech players in Brazil. In May, Nubank, the largest Brazilian digital bank by market value, added the option for customers to buy and sell bitcoin and ether on its platform, while in December, Mercado Libre, Latin Americas largest e-commerce company by market value, allowed users in Brazil to buy, sell and hold cryptocurrencies This article was translated by Andrés Engler and edited by CoinDesk. The original Portuguese can be found here . View comments || Heres Italys Election Landscape as Summer Campaigning Starts: (Bloomberg) -- A right-wing coalition has a strong shot at ruling Italy after the elections this fall, but whoever succeeds Mario Draghi as prime minister faces a daunting task. Most Read from Bloomberg VW Billionaire Clan Plotted CEO Ouster as He Was on US Trip Sergey Brin Ordered Sale of Musk Investments After Affair: WSJ Worlds Key Workers Threaten to Hit Economy Where It Will Hurt Fed to Inflict More Pain on Economy as It Readies Big Rate Hike Teslas Bitcoin Dump Leaves Accounting Mystery in Its Wake Parties have already launched into their first-ever summer of electoral campaigning, with polls showing Giorgia Melonis Brothers of Italy and Enrico Lettas Democratic Party are head-to-head. But thanks to Italys coalition system, Melonis bloc could win a solid majority in parliament. Thats barring major reversals ahead of the September 25 voting. Market turmoil, the war in Ukraine and unpredictable politics could present ample opportunities for just such an event. The new administration wont be in place before the start of November at the earliest, and its first task will be approving a budget law before the end of the year. It will also have to deal with a long list of unfinished business, including the sale of Banca Monte dei Paschi di Siena SpA and the merger of the network of phone carrier Telecom Italia SpA. Whats more, it will have to reassure international partners that it wont deviate from Draghis strong support for Ukraine, will complete reforms to secure the next -- 21.8-billion-euro ($22.3 billion) -- tranche of European Union aid funds and negotiate new budget rules for the euro area. Italy faces a triple challenge of mounting inflation, rising interest rates and potential energy shortages. In that respect, it may be difficult for Draghis successor to match the track-record of the ex-European Central Bank head, who signed energy deals with several countries and ensured above-forecast growth while keeping debt on a downward track. Even within coalitions, parties are divided and may struggle to find an accord on the new government and its policies. While positions are still fluid with two months of campaigning ahead, below are the starting positions: Advantage Right Right-wing coalition Melonis Brothers of Italy benefited from being the only major party opposing Draghi, while Matteo Salvinis anti-immigrant League and Silvio Berlusconis Forza Italia were in the ruling coalition. But the bloc was united again when League and Forza Italia decided to withdraw their support and trigger early elections. Story continues A right-wing coalition could win around 60% of the seats in the next parliament, according to calculations by YouTrend and Cattaneo Zanetto & Co. Meloni would likely be the candidate to be prime minister if her Brothers of Italy party were to come significantly ahead of partners. Read more about Giorgia Meloni here But a narrow lead and coalition divisions could open the door to others, including former ministers such as Letizia Moratti and Giulio Tremonti. Right-wing parties will likely campaign on a mix of fiscal largess and nationalist policies, which might unsettle markets and set up a fight with EU partners. JPMorgans Marco Protopapa sees a considerable potential for conflict with the EU, although no longer because of Italexit concerns, but on account of a declared aversion to fiscal restraint and some reforms. Salvini on Thursday vowed to lower the retirement age and cancel past taxes, while Meloni promised more spending to cushion families and small businesses from the impact of higher energy costs. Berlusconi also promised to raise pensions. While a right-wing government will probably adopt restrictive immigration policies like the ones enacted by Salvini when he was interior minister in 2018-19, divisions might emerge on international stances. Meloni has been careful to position herself as pro-NATO and pro-Ukraine in continuity with Draghi, while Salvini and Berlusconi have criticized weapon deliveries to Kyiv and have historically had strong ties with Russian President Vladimir Putin. Democratic Party The establishment Democratic Party was Draghis staunchest supporter and its leader Letta is already trying to campaign on a promise of continuity with the outgoing premiers policies. Democrats have been almost continuously in power since 2011. But their path to victory has narrowed after the Five Star Movement triggered the crisis that led to Draghis ouster, which makes an alliance unlikely. Still, Letta is banking on voters choosing to punish politicians who turned their backs on Draghi. One option for him is to seek the support of a constellation of smaller centrist parties, including Matteo Renzis Italia Viva and Carlo Calendas Azione, as well as former Berlusconi allies who left his party in protest against the decision to ditch Draghi. Read Bloomberg TVs interview with Democrat leader Enrico Letta Five Star Giuseppe Conte, Draghis predecessor as premier, started the crisis boycotting a confidence vote last week. But for now he stands to gain little from early elections, with polls signaling Five Star would get less than a third of the votes it had in the 2018 elections. Conte is trying to steer the movement to the left while reviving its anti-establishment and anti-EU roots. He also wants to focus on social spending and appeals for talks with Russia rather than arming Ukraine. But Five Star remains deeply divided, especially after the exit of Foreign Minister Luigi di Maio, a firebrand leader turned Draghi loyalist. 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. View comments || XRP Price Prediction Bullish Sentiment Brings $0.33 into View: Key Insights: XRP rose by 1.87% on Sunday. Despite a bullish weekend, XRP ended the week down 10.5%. Crypto market forces continued to pressure XRP and the broader market, with no news updates on the SEC v Ripple case to shift the mood. Technical indicators are bearish, with XRP sitting below the 50-day EMA. On Sunday, XRP rose by 1.87%. Following a 0.64% gain on Saturday, XRP ended the week down by 10.5% to $0.3210. A bearish start to the day saw XRP slide through the First Major Support Level at $0.3103 to a low of $0.3082. Steering clear of the Second Major Support Level at $0.3055, XRP rallied to a late high of $0.3253. XRP broke through the First Major Resistance Level at $0.3187 and the Second Major Resistance Level at $0.3223. The Second Major Resistance Level supported a late hold onto $0.32 levels. Following last weeks pullback, XRP struggled through the morning, bucking the broader market trend. A lack of news updates on the SEC v Ripple case pegged XRP back, however, with investors awaiting a key court ruling. No Court Rulings Leaves XRP in the Hands of Market Risk Sentiment With the US on holiday, the crypto market is not anticipating a court ruling on the SEC motion to protect William Hinmans speech-related documents under the client-attorney privilege. Since June 16, the Ripple Community, XRP holders, and the broader crypto market have awaited the court ruling. In 2018, the former SEC Director of the Division of Corporation Finance said that Bitcoin ( BTC ) and Ethereum ( ETH ) are not securities. The SEC has filed more than six motions to shield Hinmans speech-related documents, leading to speculation that the content would materially impact the SEC case. A ruling in favor of Ripple Labs could lead to a settlement and leave the SEC at risk of losing out to the CFTC on regulating the digital asset space. Currently, the Lummis and Gillibrand bill is making its way through Capitol Hill, forcing SEC Chair Gary Gensler to reach out to the CFTC to work together on regulating the market. Story continues However, lawmakers and crypto industry leaders have leaned in favor of the CFTC to support innovation and regulate the space. The court ruling could, therefore, decide which regulatory authority wins the battle to oversee the crypto market. XRP Price Action At the time of writing, XRP was up 1.06% to $0.3244. A choppy morning saw XRP fall to a low of $0.3142 before striking a high of $0.3268. XRPUSD 040722 Daily Chart Technical Indicators Avoiding the $0.3182 pivot would bring the First Major Resistance Level at $0.3281 into play. XRP would need the support of the broader market to breakout from the current-day high of $0.3268. In the case of an extended crypto rally, XRP could test the Second Major Resistance Level at $0.3353 and resistance at $0.34. The Third Major Resistance Level sits at $0.3524. A fall through the pivot would bring the First Major Support Level at $0.3110 into play. Barring an extended sell-off, XRP should avoid sub-$0.3050 and the Second Major Support Level at $0.3011. The Third Major Support Level sits at $0.2840. XRPUSD 040722 Hourly Chart The EMAs and the 4-hourly candlestick chart (below) send a bearish signal. At the time of writing, XRP sat below the 50-day EMA, currently at $0.3257. Today, the 50-day EMA fell back from the 100-day EMA. The 100-day EMA eased back from the 200-day EMA, price negative. A move through the 50-day EMA would support a run at R1 and the 100-day EMA, currently at $0.3341. However, another pullback from the 50-day EMA would bring sub-$0.32 support levels into play. XRPUSD 040722 4-Hourly This article was originally posted on FX Empire More From FXEMPIRE: Nicaraguan police seize control of 5 municipalities ahead of elections, opposition says Analysis-Russia hails capture of Luhansk region, but big Ukraine battles lie ahead Guinea-Bissau court overturns convictions of alleged drug kingpins Italy declares state of emergency for drought-stricken north Rooftop shooter kills 6 at July 4 parade in Chicago suburb of Highland Park UK to introduce new sanctions on Belarus and Russian media || First Mover Americas: ETH Climbs 4% as Traders Are Optimistic About Upcoming Merge: Good morning, and welcome to First Mover.I’m Lyllah Ledesma, here to take you through the latest in crypto markets, news and insights.
• Price Point:Ether leads the way today with a 4% increase, perhaps on the speculation over the upcoming network update dubbed "The Merge."
• Market Moves:A look at theclass-action suitfiled in California last week accusing key players in the Solana ecosystem offf illegally profiting from SOL.
Crypto markets were mostly in the green, with ether (ETH) taking the lead, up 4%, whilestock futures edged higherahead of the U.S. jobs data release scheduled for Friday.
Investors in the U.S. awaited the jobs report from the Labor Department, which is released on Friday at 8:30 a.m. ET. Bitcoin (BTC) was down 3% over the last 24 hours, whereas ether was up by 4.3%, making it one of the top performing altcoins on the day.
Laurent Kssis, head of Europe at Hashdex, said that ETH’s uptick could be related to the optimism surrounding the upcoming Ethereum blockchain Merge. “This has encouraged a lot of retail investors to preempt an investment strategy for ETH,” said Kssis.
“But it may be short lived as there are still strong sell orders in the market supported by ETH liquidations,” Kssis said.
In traditional markets, the British pound was up slightly on Thursday after the news surfaced U.K. Prime Minister Boris Johnson wouldresign.
The departure is likely to delay the country's plans to create a friendly environment for the crypto industry.
Against the U.S. dollar, the pound lifted to $1.20 from $1.19, where it was Wednesday.
Meanwhile, after the news that Voyager Digital filed for bankruptcy Wednesday, shares of the broker have beensuspendedfrom trading on the Toronto Stock Exchange as it looks at whether the shares meet its listing requirements.
Genesis Global Trading, a CoinDesk sister company, hasconfirmedexposure to crypto hedge fund Three Arrows Capital. Genesis’s CEO Michael Moro confirmed Three Arrows Capital was the large counterparty that failed to meet a large margin call in June, forcing liquidation of the related collateral.
Adding to the list of departures moving from traditional finance over to crypto is another JPMorgan (JPM) executive, Eric Wragge, a former managing director at the bank. He joined the Algorand blockchain as head of business development and capital markets.
And finally, the developers behind meme coin,SHIB, has teased plans to expand the Shiba Inu ecosystem with a decentralized stablecoin. More on thathere.
By Danny Nelson and Nikhilesh De
Aclass-action lawsuitfiled in California federal court last week accuses key players in the Solana ecosystem of illegally profiting from SOL, the blockchain’s native token that according to the suit is an unregistered security.
“The cornerstone of the value of SOL securities is the sum of Solana Labs, Solana Foundation and [Anatoly] Yakovenko’s management and implementation of the Solana blockchain,” the suit alleged. It described SOL as a highly centralized cryptocurrency that has benefited its insiders to the detriment of retail traders.
Filed by California resident Mark Young, who said he bought SOL in late summer 2021, the suit names Solana Labs, the Solana Foundation, Solana’s Anatoly Yakovenko, crypto VC giant Multicoin Capital, Multicoin’s Kyle Samani and trading desk FalconX.
A Solana spokesperson declined to comment. Multicoin and FalconX did not immediately respond to a request for comment.
According to the complaint, Young alleges that the way SOL was created and sold meets the three tenets of the Howey Test, a U.S. Supreme Court precedent commonly used as a barometer for whether the sale of something is a security or not.
“Purchasers who bought SOL securities have invested money or given valuable services to a common enterprise, Solana. These purchasers have a reasonable expectation of profit based upon the efforts of the promoters, Solana Labs and the Solana Foundation, to build a blockchain network that will rival Bitcoin and Ethereum and become the accepted framework for transactions on the blockchain,” the filing said, addressing the three forks of the Howey Test.
In the filing, Young pointed to several sales of the SOL token or agreements to sell the SOL token ahead of the public sale of the token.
Solana Labs filed a Form D with the U.S. Securities and Exchange Commission (a filing saying the sale was of securities exempt from SEC registration), noting the company was selling “the future rights” to around 80 million SOL, according to the filing.
Multicoin, a major crypto venture capital firm that has invested heavily across the Solana ecosystem, “offloaded millions of dollars of SOL” onto retail after “relentlessly” promoting the token in spite of Solana blockchain’s tech issues, the suit alleged. This alleged offload passed through FalconX over-the-counter trading desks, the suit said.
Young’s law firm, Roche Freedman, also recentlyfiled suitagainstBinance.USfor allegedly misleading investors during the Terra implosion. A lawyer for Roche Freedman did not pick up the phone.
• Celsius Repays $183M on DeFi Exchange Maker, Gets Back Collateral, Blockchain Data Shows: The troubled crypto lender paid down $183 million of its debt to the decentralized exchange Maker, blockchain data shows, possibly in a bid to recover bitcoin-linked collateral that otherwise would remain trapped.
• Voyager Seeks Bankruptcy Protection Amid Crypto Credit Crisis: The Toronto-based lender filed for Chapter 11 bankruptcy in New York late Tuesday.
• Meta Affirms Digital Collectibles Plan Despite Crypto Crash: Report: New fintech head Stephane Kasriel said the company's plans to bring non-fungible tokens (NFT) to its users have not changed "in any way."
• Ethereum DeFi Service Porter Finance Shutters Bond Platform, Citing Lack of 'Lending Demand': The venture capital-backed Porter Finance said the lack of “institutional fixed income DeFi adoption” drove its decision.
• Binance Resumes Local Currency Deposits with Brazilian Payment System Pix: Withdrawals should be resumed “shortly,” said the company, which had suspended that feature on June 17.
• Huobi Tech Subsidiary Is Granted US Money Transfer License: The license opens the door for the brokerage unit to offer cryptocurrency transactions in the future.
• Bitcoin Recovers Above $20K as Short ETF Sees Record $51M in Weekly Inflows: A ProShares product to bet against rising bitcoin prices saw millions of dollars in inflows last week.
• Polygon Joins Solana in Bringing Web3 to Smartphones: Tech startup Nothing has tapped the Polygon network to offer NFTs on its new smartphone Nothing Phone
• Are Block Builders the Key to Solving Ethereum’s MEV Centralization Woes?: Proposer-builder separation is one way Ethereum is implementing modular decentralization.
Today’s newsletter was edited by Bradley Keoun and produced by Stephen Alpher. || 7 Stocks That Love the Biden Climate Deal: President Biden’sInflation Reduction Actpassed in the House of Representatives late last week. The bill includes$369 billion in provisionsrelated to climate and energy. Its passage paves the way for price gains for a select group of stocks to buy.
These funds are earmarked to benefit wind and solar power production while helping reduce the price of electric vehicles (EVs), making them more affordable to more Americans.Importantly, the bill also includes $1.5 billion to be used by oil companies to reduce greenhouse gas emissions under the threat of penalty for failure to do so.
The bill will put the United States on a path to reduce greenhouse gas emissions by 40% in 2030 compared to 2005 levels. Here are several stocks to consider which should benefit from Biden’s climate deal.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
[{"TSLA": "F", "Tesla": "Ford Motor", "$937.64": "$16.36"}, {"TSLA": "GE", "Tesla": "General Electric", "$937.64": "$79.68"}, {"TSLA": "ENPH", "Tesla": "Enphase Energy", "$937.64": "$303.03"}, {"TSLA": "NEE", "Tesla": "NextEra Energy", "$937.64": "$90.66"}, {"TSLA": "TPIC", "Tesla": "TPI Composites", "$937.64": "$22.66"}, {"TSLA": "BEP", "Tesla": "Brookfield Renewable Partners", "$937.64": "$39.28"}]
Source: Grisha Bruev / Shutterstock.com
Most of the news surroundingTesla(NASDAQ:TSLA) in the last few days relates to CEO Elon Musk selling large chunks of its stock. The sales were catalyzed by anupcoming court casein which Musk may be forced to purchaseTwitter(NYSE:TWTR).
While the ongoing drama introduces volatility into Tesla’s share price, Biden’s climate deal serves as a strong tailwind.According toInsideEVs,thenew EV tax credits“would be limited to trucks, vans and SUVs with suggested retail prices of no more than $80,000 and to cars priced at no more than $55,000.”
That means Tesla’s Model S, which starts above $100,000, would be ineligible. However, Tesla’s Model Y and Model 3 vehicles would both benefit from the tax credit. Model 3 car prices begin at just under $47,000 with the Model Y SUV starting at just under $66,000.
So, the tax credits should go a long way in states like California, where the Model 3 and Model Y are thenumber-one sellersand should help TSLA stock move higher.
Source: Ford
Legacy automotive iconFord Motor(NYSE:F) and its stock should benefit greatly from the provisions in the Inflation Reduction Act. In particular, Ford stands to benefit from the removal of former tax credit caps. Those caps previously limited the number of tax credits to thefirst 200,000vehicles sold.
The cap has been removed with the passage of the Inflation Reduction Act. That means all EVs produced by a manufacturer will now be able to use the tax credit provided they meet the act’s other provisions.For Ford, this is a massive catalyst as it pivots toward increasing electric vehicle sales.
The reason is simple. Ford is planning to reach a600,000 global EV run rateby 2023. That includes 270,000 Mustang Mach-Es in North America, Europe and China as well as 150,000 F-150 Lightning trucks in North America and 150,000 Transit EVs for North America and Europe.In other words, Ford no longer has to worry about how to allot 200,000 EV tax credits across its North American sales.
Source: Sundry Photography / Shutterstock.com
Even before the Inflation Reduction Act, there were signs that investing inGeneralElectric(NYSE:GE) stock is starting to make sense. One big reason is that GE issplitting into its constituent piecesin the next two years according to recent reports. And indications are that GE will be worth more in pieces than it is as a conglomerate of three current businesses.
As noted, the company currently consists of three headline businesses: GE Aerospace, GE Healthcare and its power and renewables business, which will be rebranded as GE Vernova.The good news here is that GE Vernova, although the least valuable of GE’s current businesses, directly benefits from the IRA act.
GE Vernova represents aportfolio of constituent businessesall related to new energy. The idea here is that the company will be able to move in a much more nimble manner once separated from its parent firm and will be able to capitalize on subsidies within Biden’s climate plan.
Source: IgorGolovniov / Shutterstock.com
A month ago, solar stocks includingEnphase Energy(NASDAQ:ENPH) were looking to be heading downward. The catalyst: Sen. Joe Manchin was hesitant to support climate spending.The initial $550 billion earmarked for climate provisions was beyond what he would accept, as he believed it would serve to further increase inflation.
Manchin acquiesced to the bill’s passage after the value of climate provisions decreased to $369 billion in total. He only did so after conferring with former Treasury Secretary Larry Summers and receiving his assurance it wouldn’t increase inflation further.So, Enphase Energy is now in position to benefit whereas only a month earlier it was trading lower.
ENPH stock and company management certainly love the news. It should serve to draw more attention to the stock in the near future. Investors should tread carefully though — Enphase Energy shares are already fully priced on the back of multiple quarters of earnings beats.
Source: madamF / Shutterstock.com
NextEra Energy(NYSE:NEE) stock comprises the largest utility company in the U.S. and a clean energy business focused on wind and solar along with battery storage.The good news is no matter how you look at the company, it has performed quite well recently.
When the company releasedearningsin July the news was positive: Florida Power and Light, its utility business, saw net income increase to $989 million from $882 million in the previous quarter.
NextEra Energy Resources, its clean energy business, saw net income figures reach $133 million in the most recent quarter. That represented a drastic turnaround, as NextEra posted a $315 million loss in the same period a year ago.
Biden’s Inflation Reduction Act makes NEE stock much more attractive, as its provisions strongly incentivize the solar and wind power the company produces.
Source: Shutterstock
Biden’s climate deal is going to be a direct boon toTPI Composites(NASDAQ:TPIC) and firms like it. The Arizona manufacturer of composite wind blades now sits in prime position to benefit from rising sales moving forward.
Basically, there’s good reason to believe TPI Composites should see a spike in demand for its wind blades moving forward. That’s because the inflation Reduction Actextends the investment tax creditsand production tax credits given to clean energy firms. Meanwhile, it also extends accelerated tax depreciation schedules that benefit firms.
Sales decreased 1.4% in Q2, falling to $452.4 million. But TPI Composites sold783 of its blade setsduring the period. That represented a 7.14% decrease. That means prices increased, and the company should see demand rise as Biden’s climate deal takes effect, so it’s in a strong position now.
Source: Shutterstock
Brookfield Renewable Partners(NYSE:BEP) is a clean energy company that owns a portfolio of renewable energy generation facilities. Those facilities span North America, Colombia, Brazil, Europe, India and China.The good news is the majority of production comes from its North American operations, making Biden’s climate deal a major boon for the firm.
The company experienced a25% increase in revenues, reaching $1.27 billion in the quarter. That led to net income results that were 10.9% stronger overall and suggest BEP was investment grade prior to the Inflation Reduction Act.
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.
Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks.Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.
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The post7 Stocks That Love the Biden Climate Dealappeared first onInvestorPlace. || Lender Babel Finance Lost $280M Trading Customer Funds: Report: Babel Finance, the Hong Kong crypto lender that suspended withdrawals last month amid "liquidity pressures," reportedly lost $280 million in proprietary trades with customer funds, The Block reported, citing a restructuring proposal deck. The firm lost around 8,000 bitcoin (BTC) and 56,000 ether (ETH) in June in forced liquidations as the crypto market plunged to an 18-month low, sending bitcoin below $20,000, the deck shows, according to The Block. The trades were unhedged in what was described as a "volatile trading week." Babel Finance was one of several crypto companies struck by market contagion in June. Its decision to halt withdrawals followed that of Celsius Network and Voyager Digital , with hedge fund Three Arrows Capital also receiving margin calls from several lenders. Babel is aiming to convert hundreds of millions of dollars of debt into equity as it looks to obtain a revolving credit facility to raise funds, according to the deck, The Block said. Earlier this month Babel looked to hire restructuring specialist Houlihan Lokey . The lender also said it reached preliminary debt agreements with counterparties in June. Babel Finance did not immediately respond to CoinDesk's request for a comment. || Are People Paying with Crypto Really Trying to ‘Stick It to the Man’?: Paying in crypto is supposed to lower the fees people pay when they purchase things by cutting out the middlemen like banks, credit card firms and other payments processors.
Along with privacy, that was the point of Bitcoin,describedas a “purely peer-to-peer version of electronic cash” that allows payments “without going through financial institutions,” according to its pseudonymous creator, Satoshi Nakamoto.
See more:Who Is Bitcoin Creator ‘Satoshi Nakamoto,’ and Why Does He Still Matter?
But that leaves a very basic question: Who benefits the most from crypto payments?
There’s a strong argument that it’s the merchant accepting it much more than the crypto owner buying with it. No debit card and credit card processing fees, no extra costs when rewards cards are used, no trying to convince consumers to hit debit instead of credit, no trying to get customers to accept surcharges — all that crypto payments have, if accepted directly, is the blockchain transaction fee. Which is paid by the sender not the recipient of a cryptocurrency transaction.
See here:The Data Point: 44% of Consumers Say They Would Switch Merchants Over Card Surcharges
Even when run through a crypto-only payments processor that takes the digital assets from the consumer and pays the merchant in fiat currency, the cost of accepting cryptocurrency is generally lower and comes without the need to take the volatility and security risks that come with using your own digital wallet.
Read also:Crypto Basics Series: What’s a Crypto Wallet and How You Can Avoid Losing a Quarter Billion Dollars?
Then there are chargebacks. Or rather the lack of them. Cryptocurrency payments are, by their nature, irreversible. The only way to get a crypto payment back is to have the recipient initiate a second transaction. With crypto payments, customers can ask for refunds, but they can’t demand chargebacks — an argument merchants considering accepting crypto tend to be very interested in.
Which is to say, the card system today subsidizes the cardholder heavily at the expense of merchants. And in many ways, accepting crypto at checkout can reduce or eliminate those subsidies with relying on legislation, like the bipartisan billintroducedby senators Dick Durbin (D-Illinois) and Roger Marshall (R-Kansas) on July 28 that would give merchants the ability to process Visa and Mastercard over different networks.
Read more:Sen. Durbin Wants Another Bite at Card Interchange Fees
The Hard Core
While the tumbling price of cryptocurrencies — Bitcoin has been down 65% to 70% since its November all-time high — has probably diminished crypto owners’ willingness to spend something at $22,000 when they bought it at $44,000.
But people are still very much interested in spending a growing number of cryptocurrencies, including ether, stablecoins like USDC, and even dogecoin, Stephen Pair, president of crypto payments technology firm BitPay, told PYMNTS’ Karen Webster in May.
Read also:More Consumers Buying Crypto and Want More Ways to Spend It
That said, it is worth looking at who the crypto spender is.
PYMNTS’ April study, “The U.S. Crypto Consumer: Cryptocurrency Use In Online and In-Store Purchases” found that 23% of Americans have or had owned crypto in the 12 months preceding it — almost 60 million, up from about 41.5 million the year before.
See also:PYMNTS Data Show Jump in Crypto Ownership, Willingness to Spend It
More than a quarter of high-income consumers said they are “very” or “extremely” likely to switch merchants in favor of one accepting cryptocurrency.
One increasingly common way of spending crypto is with Visa- or Mastercard- branded crypto debit cards, many issued through exchanges and connected to clients’ digital wallets, that let users spend crypto at the point of sale without the merchant even knowing about it, as all they see is a debit card paying them cash.
What comes across very clearly is that crypto spenders are the hardcore crypto users — the people who see bitcoin and other digital assets not as investments but as the future of payments — the next generation of currency.
That makes the target crypto customer someone focused as much on the ideology of crypto — the back half of the first line in Nakamoto’s Bitcoin Whitepaper about peer-to-peer electronic payments, which reads, “without going through a financial institution.”
And for that privilege of breaking free from financial institutions, they’re willing to give up a great many advantages that cards today provide them with.
For all PYMNTS Crypto coverage, subscribe to the dailyCrypto Newsletter. || Speculation Fuels Shiba Inu, Dogecoin to Biggest 7-Day Gains as Bitcoin Steadies: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Shiba inu (SHIB) and dogecoin (DOGE) led seven-day returns as bitcoin (BTC) and other major cryptocurrencies broke above resistance levels and stabilized over the weekend. Crypto and equity markets have rallied over the past week after U.S. Federal Reserve Chair Jerome Powell signaled a softened stance on rate increases. Powell said the agency’s commitment to reining in inflation, which is now at a 40-year high, was “unconditional,” adding that he expected economic growth to pick up in the second half after a sluggish start to the year, as previously reported . Meme coins outperformed the broader market, with SHIB posting returns of over 40% and Dogecoin’s DOGE tokens climbing more than 30% over the period. The tokens fell in the past 24 hours on profit-taking. SHIB lost 6% and DOGE fell 7.4%. Bitcoin's seven-day gain now stands at just over 2%, with ether returning 8%. Binance coin (BNB) and XRP gained 9%, while Cardano’s ADA and Polkadot’s DOT were little changed at 0.4% lower. SHIB rose to as high as $0.000011 on Sunday from last week’s low of $0.000008, while DOGE spiked to over 7 cents from last week’s 5-cent low. Such price action caused futures tracking the two tokens to rack up millions of dollars in liquidation losses, Coinglass data show. Some analysts explained last week’s rally as showcasing speculative behavior from investors making risky bets on the duo’s upside. Others said reasons for caution remain. “Traders buying meme tokens in this environment should be cautious before investing heavily in this asset class,” said Sebastian Ganjali, head of strategy, at trading developer Kryll. Nevertheless, some observers said there may have been fundamental reasons behind the gains. “The parabolic move by SHIB is mainly fueled by the coming Shibarium protocol,” shared Adam O’Neill, CMO at crypto exchange Bitrue, in an email. “This move is also partly coming from SHIB burnt token that has reached a total of 400 trillion milestone.” Bitcoin dropped under $21,000 in European hours on Tuesday as traders took profits, causing a 1.4% drop in crypto market capitalization over the past 24 hours. Ether lost 0.8%, while ADA and XRP fell 3.5%. Solana’s SOL dropped 4.5%, the most among majors, as the hype around its upcoming Saga mobile phone eased. || First Mover Asia: Bitcoin’s Recent Gains Have Been Small. What Will Drive Its Price Higher?: Good morning. Here’s what’s happening: Prices: Bitcoin and ether soar for a third consecutive day. Insights: What will drive a real bitcoin rally? Prices ● Bitcoin ( BTC ): $23,841 +4.0% ● Ether ( ETH ): $1,719 +5.1% ● S&P 500 daily close: 4,072.43 +1.2% ● Gold: $1,771 per troy ounce +3.0% ● Ten-year Treasury yield daily close: 2.68% −0.05 Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found at coindesk.com/indices. Bitcoin, Ether and Other Major Cryptos Rise Again By James Rubin Interest rates are up. U.S. gross domestic product (GDP) is down. But crypto investors have been liking what they've been hearing lately about inflation-busting efforts and the possible economic path forward as bitcoin, ether and most other major digital assets climbed handsomely for a third consecutive day. Bitcoin was recently trading at nearly $23,900, a more than 4% gain over the past 24 hours as markets continued to embrace the latest steps by the U.S. central bank to quell inflation and indicators showing the economy slowing but not falling into recession. The largest cryptocurrency by market capitalization cracked $24,000 for the first time in more than a week at one point despite GDP tumbling more steeply than expected. Ether, the second-largest crypto by market cap behind bitcoin, jumped over $1,700 for the first time since early June. Other major cryptos were deeply in the green with ETC and BCH both up more than 20% at one point. "Risk appetite is roaring back after a second consecutive contraction for the US economy raises the chances that the Fed could be looking to tighten at a softer pace at the next policy meeting in September," Edward Moya, senior market analyst Americas for Oanda, wrote in an email. Moya noted gains in equity markets that also rose for a third consecutive day with the tech-focused Nasdaq, S&P 500, which has a heavy tech component, and Dow Jones Industrial Average all rising over a percentage point. But he also struck a cautionary note, writing that although the rally for risky assets was a boon for crypto, "traders should not be surprised if stocks "eventually faded." Story continues Economic uncertainty Thursday's GDP report spurred more uncertainty about a global economy that has suffered one stomach punch after another for more than nine months. GDP declined at an annualized pace of 0.9% in the second quarter, marking two consecutive quarters of economic contraction, which many economists have traditionally defined as a recession. The data released on Thursday morning by the U.S. Commerce Department was worse than consensus forecasts of a 0.5% contraction, but was slightly better than "whisper" expectations for a decline of 1% or more. GDP plunged 1.6% in the first quarter. However, many economists – and even Federal Reserve Chairman Jerome Powell and U.S. Treasury Secretary Janet Yellen – have refrained from calling a recession because other factors like the labor market show signs of a strong economy. Both the government and the Fed defer to the National Bureau of Economic Research (NBER) to declare a recession, which takes into account employment, personal income and industrial production, in addition to GDP. Yellen told reporters on Thursday following the GDP announcement the definition of a recession is a “broad-based weakening of the economy,” and “that is not what we’re seeing right now.” On Wednesday, investors had reacted favorably to the U.S. central bank's 75 basis point rate hike and dovish signals by Powell that the Fed might not have to raise rates in a few months. Meanwhile, the crypto bankruptcy roll call lengthened on Thursday with beleaguered crypto exchange Zipmex filing applications in Singapore seeking protection amid the threat of legal action from creditors. Zipmex's solicitors, Morgan Lewis Stamford, filed five applications on July 22 on behalf of the firm's different entities seeking moratoriums on legal proceedings for up to six months. Crypto lender Voyager Digital was ordered by U.S. banking regulators to stop making incorrect claims that the company was insured by the government. Voyager Digital filed for Chapter 11 bankruptcy protection in a U.S. court earlier this month. Oanda's Moya will be looking for bitcoin to at least hold its current upper threshold as a sign that the crypto winter "is truly over." "Bitcoin is facing tentative resistance at the $24,000 level, but if that can’t contain the bulls price could extend towards the $27,500 region," he wrote. Biggest Gainers Asset Ticker Returns DACS Sector Loopring LRC +11.2% Smart Contract Platform Solana SOL +8.0% Smart Contract Platform Polygon MATIC +7.1% Smart Contract Platform Biggest Losers There are no losers in CoinDesk 20 today. Insights What Will Drive a Real Bitcoin Rally? By Sam Reynolds Bitcoin is up again after the U.S. Federal Reserve announced that it’s raising interest rates by 75 basis points to combat persistent inflation, meeting and but exceeding expectations. Bitcoin responded by rising 10% in the immediate hours after the announcement and more than 5% on Thursday at one point to rise over $24,000 for the first time in more than a week. Seeing the entire board in green is a nice change from the bear markets: a sea of red and daily declines. But the $24,000 threshold is a long way from where we all thought it would be given the institutional support and interest it has. So how does it break out from this slump? Stakeholders aren’t quite sure. Everyone knows that bitcoin is a risk asset. But is its fate forever tied to equities? After all, bitcoin’s first use case, and rally, was in 2013 when Cypriot depositors used it as an asset to preserve capital in times of risk – a stark contrast to it being a risky asset. Speaking at CoinDesk’s Consensus 2022 festival, Galaxy Digital CEO Mike Novogratz said that bitcoin isn’t going to “trade well before the Fed flinches and takes its foot off the break” and thinks that it will bottom out before U.S. equities do. “My hope is that by the fourth quarter, the economy will be slowing enough that the Fed says we are going to pause, and then you will see the next crypto cycle start,” he said. “Then bitcoin will break from equities and lead markets.” Bill Cannon, head of ETF portfolio management at digital asset fund manager Valkyrie Investments, sees bitcoin as being tied to equities and the macro environment dictating its price for the foreseeable future. “Most signs point to the U.S. being in a recession, despite Chair Powell repeatedly insisting otherwise, and confirmation of that will likely send assets south,” Cannon said in an email to CoinDesk. Recession, yes? Cannon wrote there were two things that stuck out to the firm: Fed Chairman Jerome Powell declining to provide further rate guidance in advance of the September FOMC meeting, and also saying that "we need to have a period of growth below potential to create slack as well as a softening job market." “That sounds an awful lot like a recession, and we expect it to last longer than many people think – this will send all risk assets lower including Bitcoin and other digital assets,” Cannon wrote. Despite the fact that Powell declined to provide rate guidance, others see this most recent rate hike meeting – not exceeding – expectations as the first sign of a more dovish Fed. “We are seeing a very clean breakout to the upside, which started ahead of the data, seeing institutions taking heavy positions on the back of a more dovish FED stance," assets brokerage Secure Digital markets wrote in a Telegram channel, CoinDesk previously reported . The number keeps going up, but what puts it back to where it once was clearly remains a mystery. Important events 9:30 p.m. HKT/SGT(1:30 p.m. UTC): U.K. M4 Money Supply (MoM/YoY/June) 9:30 p.m. HKT/SGT(1:30 p.m. UTC): U.K. Mortgage approvals (June) CoinDesk TV In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV : Time, Falling 0.9% in Q2. Is the US in a Recession? What it Means for Crypto The second quarter Gross Domestic Product (GDP) is out: the United States economy contracted again for the second time, falling 0.9%. This comes after it decreased a 1.6% annual rate in the first quarter of 2022. Joining "First Mover" to discuss the latest economic data and crypto markets was Jason Lau, chief operating officer of OKCoin. Plus, author Matthew Ball discussed how the metaverse will revolutionize everything. And Georgetown University Law Professor Adam Levitin discussed his concerns that ether (ETH) may become a security. Headlines Ether Dominates Futures Trading as Shorts See $200M in Liquidations: Crypto markets jumped after the U.S. Federal Reserve’s decision to hike rates by 75 basis points in a move that caught short traders offside. GDP Falls Further in Q2, Fueling Talk of a Recession: A widely used technical definition says that two consecutive quarters of negative GDP means the economy is in a recession. Solana DeFi Protocol Nirvana Drained of Liquidity After Flash Loan Exploit: The price of the protocol’s ANA token fell almost 80% following the attack. Zipmex Files for Bankruptcy Protection in Singapore: The company's lawyers filed five applications on behalf of the firm's different entities seeking moratoriums on legal proceedings for up to six months. Foundry Starts New Service to Reduce Supply-Chain Lag for Bitcoin Miners: The DCG subsidiary's new Foundry Logistics aims to lower time and costs of deliveries of mining computers for its clients Longer reads What DAO Governance Has in Common With the ‘Eggheads’ Who Call a Recession: A whale on Ethereum staking protocol Lido rejected a plan to sell tokens to a VC firm, as an economic downturn looms. Other voices: Amid the hype, they bought crypto near its peak. Now, they cope with painful losses (NPR) Said and heard "After years of work to bring proof-of-stake to Ethereum, we are now well into the final testing stage: testnet deployments! After several devnets, shadow forks and merges on deprecated testnets, Sepolia was recently transitioned to proof-of-stake. Now, only one more testnet remains: Goerli, and its associated Beacon Chain, Prater." ( Ethereum blog )
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 23883.29, 23336.00, 23212.74, 20877.55, 21166.06, 21534.12, 21398.91, 21528.09, 21395.02, 21600.90
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on 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 2019-11-11]
BTC Price: 8757.79, BTC RSI: 46.70
Gold Price: 1455.50, Gold RSI: 36.69
Oil Price: 56.86, Oil RSI: 56.49
[Random Sample of News (last 60 days)]
Gold Hits a 2-Week High on Global Recession Fears: This article was originally published onETFTrends.com.
Market volatility has certainly fueled the gains for gold in 2019 as global recession fears continue to push investors toward safe-haven assets. Gold hit a two-week high to start this week’s trading session following week economic data stemming from Europe.
Per a CNBCreport, “Spot gold was up 0.5% at $1,524.71 per ounce, after hitting its highest since Sept. 6. U.S. gold futures rose 1.1% to $1,532.40 an ounce.”
Furthermore, the German private sector took a hit as activity shrank for the first time in over six years during the month of September. The manufacturing recession deepened unexpectedly and growth within the service sector lost momentum, according to a survey.
“The weak German PMI numbers gave a little bit of a shock to the stock market and led investors into safety like gold and silver,”saidPhillip Streible, senior commodities strategist at RJO Futures.
In the meantime, the capital markets’ eyes are still fixated on a U.S.-China trade deal, which is continuing to steer a heard of investors towards precious metals.
“People are starting to realize that auto sales and production outside of China is actually not so bad and so demand from the industrial sector is stronger than what people thought,”saidJeffrey Christian, managing partner of CPM Group. “In addition to that, there are a lot of investors moving in that market and in such a small, illiquid market, it doesn’t take a lot of investors to drive the price higher.”
How High Does Gold Climb?
The rise in gold has been translating to strength in miners and their associated leveraged funds like theDirexion Daily Gold Miners Bull 3X ETF (NUGT) as well as theDirexion Daily Jr Gold Miners Bull 3X ETF (JNUG) .
NUGT seeks daily investment results equal to 300% of the daily performance of the NYSE Arca Gold Miners Index. The fund invests at least 80% of its net assets (plus borrowing for investment purposes) in financial instruments, such as swap agreements, and securities of the index, ETFs that track the index and other financial instruments that provide daily leveraged exposure to the index or ETFs that track the index.
The index is a comprised of publicly traded companies that operate globally in both developed and emerging markets, and are involved primarily in the mining for gold and, in mining for silver.
Related:Gold, Silver ETFs: Look For More Upside Ahead
JNUG seeks daily investment results equal to 300% of the daily performance of the MVIS Global Junior Gold Miners Index. The fund invests at least 80% of its net assets (plus borrowing for investment purposes) in financial instruments, such as swap agreements, and securities of the index, ETFs that track the index and other financial instruments that provide daily leveraged exposure to the index or ETFs that track the index.
The index includes companies from markets that are freely investable to foreign investors, including "emerging markets," as that term is defined by the index provider.
For more market trends, visitETF Trends.
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READ MORE AT ETFTRENDS.COM > || Coinbase Legal Chief Says Private Sector Should Build US Digital Dollar: Coinbase’s legal chief is calling for private sector leadership in developing America’s digital currency. Brian Brooks, in a Fortune essay published Monday, argued private corporations are best positioned to build a much-debated digital U.S. dollar, and that the government should stand back and let them, doing little, if anything, to regulate their underlying blockchains. “The best path forward is one that harnesses our country’s remarkable capacity for innovation and also reflects government’s historical practice of setting broad guide rails for private innovation within the financial system,” Brooks said. “… But there is no more need for the government to control the blockchain policy of stablecoin issuers than there is for the government to dictate the technology used by privately-owned commercial and investment banks.” Related: Bitcoin Price Slides 2% After Deribit, Coinbase Flash Crash Essentially, Brooks envisions an informal public-private partnership in which private corporations leave monetary control to the federal government, and the government, in turn, secedes management of the technological infrastructure to them: “In short: the private sector should build the technology, and the public sector should set monetary policy.” His approach differs from the Facebook-led Libra project, which the social media giant first announced this past summer. U.S. lawmakers and regulators alike have balked at the company’s plans to develop a global stablecoin governed by a Switzerland-based council dubbed the Libra Association, claiming the cryptocurrency would be beyond regulators’ jurisdiction. Further, the project’s plans to back the stablecoin with a basket of global currencies could, conceivably, strip America’s federal reserve of monetary control. Related: Ex-Official Trolls Libra, Says China Likely to Issue Digital Currency First In October, Federal Reserve governor Lael Brainard said global digital currency projects like Libra could destabilize the world’s central banks. Story continues Brooks contrasted Libra’s approach with USDC (the stablecoin issued by Coinbase and Circle) and other similar tokens, asserting instead that dollar-backed digital currencies pose no threat whatsoever to central bank control. If the Fed-controlled dollar backs the private sector minted stablecoin, then, he pointed out, the fed still controls the stablecoin’s underlying monetary policy. As Brooks sees it, the government’s best action would be taking little, if any. Other than ensuring that varied stablecoin projects – Libra and Coinbase’s USDC, among others – hold the fiat reserves they claim to, he called for a hands-off approach to private innovation. Brooks did not immediately respond to requests for additional comment. Dollars image via Shutterstock Related Stories ‘Hell No’: Jack Dorsey Says Twitter Won’t Be Joining Libra Association CEO: Coinbase Has Earned $2 Billion in Transaction Fees Since 2012 || Caesars Entertainment To Sell Rio Casino Business For $516.3M: Caesars Entertainment Corporation(NASDAQ:CZR) has signed an agreement to sell the Rio All-Suite Hotel & Casino to a company controlled by a principal of Imperial Companies for $516.3 million. The transaction is expected to close in the fourth quarter.
Caesars says it will continue to operate the property for a minimum of two years and pay annualized rent of $45 million. The buyer will have the option to pay Caesars $7 million to extend the lease under similar terms for a third year.
"This deal allows Caesars Entertainment to focus our resources on strengthening our attractive portfolio of recently renovated Strip properties and is expected to result in incremental EBITDA at those properties," said Tony Rodio, CEO of Caesars Entertainment. "The retention of the World Series of Poker and retention of Caesars Rewards customers are all factors that make this a valuable transaction for Caesars."
Caesars Entertainment shares were trading up 1.2% at $12.50 in Monday’s pre-market session.The stock has a 52-week range between $12.23 and $5.84.
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© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Celsius Network aims to take the risk out of risky crypto-lending biz: Lending money is risky business. But lending money against chronically risky assets like cryptocurrencies takes it to another level. There are companies, however, within the crypto industry that aim to minimize as much of that risk as possible, with dreams of taking crypto-backed loans mainstream. One such company is the Celsius Network , which allows customers to borrow against their Bitcoin or other digital currency funds. In an interview with Decrypt , CEO Alex Mashinsky explained the lending process , saying that if you have Bitcoin , for example, Celsius can use that money to lend out either cash or stablecoin-based loans, so the value of whatever the company lends out remains consistent. Previously, the company only provided these crypto-backed loans through stablecoins such as Tether (USDT), USD Coin, and the Gemini dollar (USDG). But today, the company announced support for four new fiat-pegged currencies through a partnership with stablecoin issuer TrustToken: the True Great Britain Pound (TGBP), the True Australian Dollar (TAUD), the True Canadian Dollar (TCAD), and the True Hong Kong Dollar (THKD). The BlockFi high-interest crypto account hoopla explained According to the company’s website, customers do not need to make a minimum deposit , claiming that users can “earn on $5 or $5,000,000.” They also do not need to hold their money for a set period and can cash out at their own convenience. Interest rates vary depending on the coin, and customers can increase their interest earnings depending on how long they hold their money with Celsius. Currently, Celsius has lent out more than $2.2 billion in coin loans and inked deals with roughly 100 institutional clients, according to Mashinsky. While he would not name names, Mashinsky did say that roughly 35 percent of those clients are hedge funds, while another 40 percent are corporate or family offices. The rest are exchanges and market makers, he said. To protect itself against default risks, Celsius doesn’t lend to exchange customers directly, but instead provides funds to the exchanges themselves, as exchanges only lend against collateral. Thus, a crypto exchange itself is responsible for managing leverage and returning Celsius’ funds—not the exchange’s customers. Story continues “To date, we have not had any issues with such loans,” Mashinsky told Decrypt . “We have a very rigorous risk assessment protocol when deciding who to lend to and at what agreement.” One step in that protocol involves tracking the balance sheets of the exchanges that Celsius is considering as clients. If profits look good, and things seem stable enough, the company has assurance that the exchange likely won’t default. On the other hand, these are crypto exchanges that we’re talking about, after all—the same companies that regulatory bodies like the U.S. Securities and Exchange Commission have said over and over again are prone to massive risks, including price manipulation of assets such as Bitcoin . The Hong Kong-based crypto exchange Bitfinex, for example, is currently embroiled in a lawsuit in New York, where the attorney general has launched an investigation against the exchange over allegations of fraud. Lawsuit alleges Tether manipulated the “largest bubble in human history” Mashinsky, however, defended Bitfinex, which is one of the company’s clients. Despite the exchange’s troubles, he said, it’s still a legitimate business that implements appropriate security measures. The Celsius CEO says Bitfinex comes with no more risk than Coinbase or any other large trading platform across the globe. “There are hundreds of smaller exchanges and hedge funds that represent much-higher risk than Bitfinex,” he said. “We protect our community by not working with them.” In the end, Celsius’s priorities rest in generating returns for its customers. The company claims that its users can earn as much as 10 percent interest on the coins they purchase through Celsius. It’s made possible, Mashinsky explained, by the fact that the company lends out from its community’s pool of assets, and shares roughly 80 percent of the value with investors, he claimed. Interest also jumps when volatility tends to be higher. “It’s a HODLer’s dream,” Mashinsky said. “Using crypto to generate interest income, we can pay five to 10 times as much interest as other options provided by banks.” That may be true—but is it also five to 10 times as risky? It’s a question that prospective clients will need to answer for themselves. || Hedera Hashgraph launches public mainnet beta: UPDATE: This article has been corrected to remove a reference to Ethereum's state bloat problem.
Hedera Hashgraph, a new type of distributed ledger technology that promises speeds and transaction costs that leaveEthereumandBitcoinin the dust, announced today the public launch of its mainnet beta. The mainnet beta is open to anyone from the general public, following a closed beta that was previously only accessible to developers who were building on the platform.
Hedera’s beta will throttle speeds to 10,000 transactions per second and plans to increase them throughout the rest of 2019, a strategy it said is better for security.Ethereum, by comparison, can handle roughly 15 transactions per second. Hedera’s beta will also offer a smart contract and file storage service, although transactions on these services are throttled to 10 transactions a second. Developers can also now run mirror nodes, which provide public records of all the consensus decisions on the ledger.
Hedera Hashgraph thanks in part to the network doing away with validating transactions, thanks to something called a directed acyclic graph (DAG). With a DAG, the idea is that the network actually gets faster at verifying transactions as the network grows.
The mainnet public beta goes live with25 dapps, including AdsDax, a decentralized advertising platform that’s conducted two million transactions on Hedera’s network; Certara, a company that’s running a mirror node to analyze transactions of Hedera, with the hope of applying insight to the healthcare industry; and Hash.hash.info, a blockchain explorer for Hedera.
Dr. Nikolaos Siafakas of Hash-hash.info, said that “Hedera Hashgraph’s high throughput allowed us to introduce novel ways of analyzing network performance; we incorporated a browser mini-game to generate a large stream of real-time transactions, which in effect allowed us to test the network performance from an end user's point of view.”
To boost development of new dapps, Hedera runs a dedicated developer advocacy program and provides real-time services online to developers, hosts regular meetups for developers around the world. "Our developers are our best ambassadors," Mance Harmon, CEO of Hedera Hashgraph, toldDecrypt.
What’s the catch? Well, it’s not really decentralized. Currently, Hedera Hashgraph is a permissioned network, meaning that while anyone can build on the platform, only certain parties are eligible to run nodes, manage consensus, and maintain the network, for the safety of the network. As activity grows on the platform, Hedera will transition into a public, permissionless network, allowing anyone to run a node.
Hedera Hashgraph, though, is run by the Hedera Governing Council, a network of ultra-rich companies, including Boeing, IBM, and Deutsche Telekom. They control the codebase, a move CEO Harmon toldDecryptis for "the safety of the network".
To stop the power going to any one company in the governing council, Hedera said it’s implemented a one-company-one-vote system, and companies on the governing council change every couple years. But that doesn’t mean poorer companies won’t pander to larger ones. For instance, the United Nations operates on a one-nation-one-vote policy, but smaller countries often vote to make larger countries happy.
Hedera's CEO, Harmon, toldDecryptthat the companies are "far less likely that the council members would collude or form alliances if they're cross-sector, geo-distributed, and distributed across time". Yet Harmon seems to have forgotten the power of email, the international nature of all of the companies (Boeing literallyflies airplanes), and the shared interest of all of these companies: profit. It’s too early to know how things will turn out, but it’s a clear departure from the libertarian ideals of Bitcoin.
The recently announced Hedera Consensus Service will be publicly available later this year and is expected to deliver similar performance and speed to Hedera’s cryptocurrency service. || Binance announces Market Maker Program to tempt whales: Crypto exchange Binance has announced a market maker service designed to encourage big spenders to increase the amount of crypto running through its network. The Binance Market Maker Program offers reduced trading fees and higher API limits to traders whose volumes surpass 1,000 Bitcoin a month ($7,880,400) and who have quality market maker strategies. The hope is that whales use Binance to trade cryptocurrencies, which in turn, would hopefully encourage other traders to follow suit. As more money flows through the exchange, and the liquidity of the exchange rises, it makes it easier for small traders to fulfill orders. Documents Binance showed to Decrypt show that 16 coins are included in the program, including Dash , Bitcoin , and Ethereum . All pairings are for USDT (Tether), apart from Bitcoin, which is paired with BUSD. A market makers score is calculated by their performance on various pairings on the Market Maker Pair List, a specially curated list based on the spot markets on Binance.com. Some coins are ranked higher than others. The EOS/USDT and XRP/USDT pairings are given a weight of 0.5, DASH/USDT and XMR/USDT are given a weight of 3, ZEC/UDST is given a weight of 7, and IOST/USDT is given a weight of 10. The final market maker score is comprised of other factors, like volume and total order size, multiplied by the pair weighting. Budding applicants must email Binance with proof of market volumes, including those on other exchanges. Binance is offering a trial period of 2-3 weeks to new participants, who will pay no trading fees for the pairs outlined. The announcement comes a few weeks after Binance CEO Changpeng Zhao accidentally shamed a market maker, whom he believed was trying to manipulate Binances new futures exchange after futures prices briefly dipped in price. Zhao thought the market maker manipulated the market to buy crypto at low prices, then sell when they went back up. Zhao was wrong, however; Zhao later found out that the price blip was an accident, due to a bad parameter on their side...the attacker lost a bunch of money, and that was that, he tweeted . || Crypto brokerage Bitcoin Suisse invests $3M in trading software provider CoinRoutes: Cryptocurrency brokerage and custodian Bitcoin Suisse has invested $3 million in trading software provider CoinRoutes. Announcing the news on Tuesday, Bitcoin Suisse said it has acquired a “sizeable minority" stake in CoinRoutes’ U.S. unit with the investment. It did not disclose the percentage of the stake acquisition. CoinRoutes’ algorithmic trading software, which sources cryptocurrency price data from over 40 exchanges, is the primary reason for the investment. “We have been absolutely satisfied with [“CoinRoutes’] technology for the past year,” said Niklas Nikolajsen, chairman of the Bitcoin Suisse Group. Technology provided by CoinRoutes allows Bitcoin Suisse to execute trades at the “best prices across all major crypto asset exchanges,” per the announcement. As part of the investment, Nikolajsen is also joining the board of directors of both CoinRoutes’s U.S. and Switzerland units. || How China is using blockchain technology: Bitcoin’s priceshot upon Friday on the news that Chinese President Xi Jinping had issueda ringing endorsementofblockchaintechnology. But how is China using blockchain technology now, and what are the country’s plans for the future of blockchain andcryptocurrencies?
China’s plans are wide and varied, but in the short term, the country seems primarily interested in creatingits own digital currency, partially as a means ofshutting out Facebook’s Libra.
Facebook hopes to launch theLibrastablecoin some time next year, and the social media giant has positioned the project as a way to provide broader access to financial services to people around the world. The current plan is for Libra to be backed by several fiat currencies, though theChinese yuan is not one of them.
A division of the People’s Bank of China—known as the Digital Currency Research Institute (DCRI)—is in charge of pushing China’s plans for a national digital currency forward. Just weeks ago, the organization announced that it is seeking tohire tech expertsto boost its digital currency efforts.
China has made it clear that it’s worried about Libra, yet some Chinese government officials seem rather open, evendownright complementary, of Facebook’s endeavor.
During September’s Shanghai Wanxiang Blockchain Conference, a state-backed blockchain event, Li Lihui, head of the Blockchain Research Working Group at the National Internet Finance Association of China, said Libra “will become a trusted organization that issues digital currency,” should it receive the necessary regulatory approvals.
While China has a mixed relationship with digital assets, it’s clear that some within its government see things in Libra that they like, or at the very least respect. The same can likely be said of China’s attitude toward other digital assets, such asBitcoin.
China, for example, has taken a tough stance against foreigncryptocurrency exchanges, but a recent court case in China’s “Internet Courts” saw Bitcoin recognized as having the same legal status as physical assets. Thecourt ruledthatBitcoinhas “value, scarcity and disposability,” and deserves protection from “Chinese property laws.” Digital assets and their utility are definitely on China’s blockchain radar.
In fact, some Chinese institutions—such as the China Merchants Bank—are looking torelease their very own decentralized finance(DeFi) applications. As one of China’s biggest banks, the Merchant Bank houses over $1 trillion in assets and brought in more than $30 billion in 2018 alone.
China Merchants Bank announced earlier this month that is has partnered with blockchain network Nevos to provide dapps to customers that offer financial services, though Nevos has yet to provide further details.
China is also home to the world’s top Bitcoin mining company, Bitmain, whichlast week bested all other crypto startupson this year’s “Global Unicorn List.” The list, authored by the Shanghai-based Hurun Report, analyzed tech startups with a valuation of more than $1 billion, but that are unlisted on stock exchanges, with no private equity investment and less than 10 years old.
All in all, 11 blockchain companies made the list, but Bitmain, with a valuation of approximately $12 billion, topped them all, once again highlighting the importance of Bitcoin mining in China.
It’s more than a little curious, then, that China is currentlyconsidering implementing a banon cryptocurrency mining within its borders.
The ban, if implemented, would allow Chinese authorities to “raise electricity prices for relevant businesses to force them to close,”accordingto theSouth China Morning Post. The ban could drive mining operations “underground,” force them to set up shop in surrounding nations, or completely shut down, which some industry observers argue could negatively impact the Bitcoin network.
So while China’s president touts the wonders of blockchain, it’s worth noting that the government is simultaneously considering regulations that could adversely affect the crypto industry broadly.
Worse still is the potential for blockchain technology to beused to bolster the Chinese government’s surveillance state.
Somehave even suggestedthat China’s planned state-backed digital currency is nothing more than a cynical ploy to more closely monitor its citizens’ financial activities.
Add to that the fact that one of China’s largest automakers—Wianxiang—recently sank nearly $30 billioninto a new blockchain startup that’s seeking to build a blockchain-powered “smart city” which can track residents’ data.
“Wanxiang City,” is set to become China’s “largest, most interconnected, blockchain-powered smart city,” according to an announcement from the automaker last July. The company’s tech is meant to “track, transfer, and secure critical data such as resident identification cards and smart devices.”
Libra co-founder David Marcus has repeatedlywarnedthat if U.S. lawmakers don’t hurry up and make up their minds on blockchain and cryptocurrency regulations, China will lead the way andget there first.
Those fears may not be unfounded.
As it stands, roughly74 percent of Bitcoin nodesare Chinese, while about 225 blockchain patents have also been filed in China. And last year, the Cyberspace Administration of China administerednew regulatory guidelinesthat will require all blockchain and crypto-based businesses to register with the government and pass along data regarding their customers.
This includes non-Chinese citizens that utilize the services of these companies, so it doesn’t matter where you’re located. If you hold crypto in a Chinese exchange, for example, your data will probably be examined by Chinese state authorities.
So while China indeed seems to have some big plans for blockchain, not all of those plans are the sort most crypto users will cheer. || Santander brings blockchain payments to Madrid's buses: Soon travelers in Madrid will be able to pay for their public transport using a single unified digital payment system, powered by blockchain. In partnership with Banco Santander, blockchain certification company Vottun is developing an all-in-one system that will unify all of the city’s public transport under one app, driven by blockchain. The app will enable users to register once in order to use all of the city’s public mobility services, including buses, taxis and electric vehicle charging. As well as offering a single onboarding and payment system, the app also promises to improve data security for users. Vottun is one of 300 start-ups that applied to Madrid in Motion , a new initiative by the Municipal Transport Company of Madrid (EMT) that aims to streamline the city's cumbersome public transport system. At present, up to 30 different businesses that offer their services to the EMT, including bus companies, taxis, bicycle hires, motorcycles and car rentals as well as the metro. Each service has its own app, which travelers must register for separately, providing ID and payment information. “The onboarding and validation process of user information with be the same for all the mobility services offered in Madrid through the EMT app,” said Rohan Hall, CEO of Vottun. “This will make it easier for citizens to use public transportation, and to pay in an easier and more transparent way.” Madrid appears to be the perfect locale for a venture of this kind. According to statistics from Moovitapp, the average commute time within the city is 62 minutes, with over 63 percent of those commuters spending more than two hours a day onboard public transportation. Moreover, in a single trip, 68 percent of Madridians make at least one transfer, with 23 percent transferring twice. Interestingly, Madrid isn't the first to digitize its transportation system using blockchain. Earlier this year a partnership between blockchain-based financial services provider Bitex and transit payment card platform Alto Viaje enabled Argentinians to pay for travel on trains, buses and subways throughout the country using Bitcoin. || Report: Bitcoin searches on Google mirror how much the currency is worth: Bitcoin's price is more heavily correlated with Google searches than you might think. According to data providerSEMrush, there's an 80% correlation between the two. That means four out of five times, whenever Bitcoin's price rises, so does search volume.
The correlation compared the average monthly Google search volume for Bitcoin (that peaked at 45.5 million in December 2017) with the average monthly traded price for bitcoin in dollars.
The dataset goes all the way back to Sept 2015, when Bitcoin was trading at just $225, and Google search interest was only 1 million a month.
It's hard to pin down exactly where the causation lies but we can take a stab.
It's fairly clear that a rising Bitcoin price leads to more news articles and general awareness, causing an increase in search volumes. And it's possible this creates a virtuous circle, where more people searching for Bitcoin end up buying some—raising the price even more. But on the other hand, it's possible people are finding out about Bitcoin by other means and then searching for ways to buy it.
The firm found that there was an even higher correlation for XRP, at 86%, with other altcoins seeing similarly positive correlations, such as Ethereum (74%) and Litecoin (71%).
And like most things in crypto, someone's already tried to manipulate the system. In September searches for BTC–Bitcoin's price tickersurgedin the first week of September. Some commentators havesuggestedbots were being used to inflate searches in order to manipulate other bots that use search volume as an indication of how they should trade.
But for now, it remains a mystery.
[Random Sample of Social Media Buzz (last 60 days)]
@No nude needed. Rt and Dm me if you need $8000 for shopping or bills this weekend. I just want to help financially... text me on #sugardaddywanted #sugardaddy #TwitterPhilanthrophy #findom #SugarBabieswanted #bitcoin Text me on WhatsApp 929-367-8259 or kik Sugermatt || @Cointelegraph bitcoin is acceptable here at good rate any payment method is acceptable bitcoin rate is given according to the quantity of bitcoin payment is made in less than 10mints 💵
Coinbase
Blockchain
Paxful
Edge e.t.c
+1 (740) 416‐5135 contact me on Whatsapp bitcoin broker || #仮想通貨 #NLC2
Bittrex高騰/暴落 速報(5分前価格と比較)
[BTC-NLC2]9.09%0.000000120 || Bakkt to Launch Options on Its Bitcoin Futures Dec. 9 https://t.co/uOwRergR6j https://t.co/7eTzJz92DL || BTC
「6000$〜7000$」
BTCにおいて、6000$、7000$は重要な意味を持ちます。
最初にタッチした2月から4月、6月とサポートとして機能しています。
さらに6月の底打ち後は、この値幅の中で、逆三尊、レンジが形成されました。
課題は7000$をレジスタンスでなくサポートにすることでしょう。 https://t.co/TYcLEuOJIo || Do you have bitcoin wallet and you what to earn a huge amount of money daily to your wallet or you what to BUY or SALE BITCOIN with 100% payout guaranteed platform company SAFE and SECURE INVESTMENT ? and 24HRS/7 life chart admins help ? INBOX ME IF YOU INTER https://t.co/rdvcg0aEn7 || When to Sell Bitcoin? Never! This is Why Bitmex Leverage Trading is so Famous! | CryptoInTalk | Largest Cryptocurrency Forum https://t.co/YjlPWieKmy / || @Reuters @ReutersBiz Friends, let me share with you a cool browser with built-in mining features, I've been using it few weeks now and results are great! You get paid in Bitcoins and payments come directly to your Bitcoin wallet. Download it here - https://t.co/kole3g3gW9 || 10/25 05:20 現在のビットコインの価格
BTC/JPY ask: 812,110 / bid: 811,584
・sp: 526 ・ps: -0.067% || 信頼と実績のBitSignXなら、ビットコインから法定通貨への交換、銀行送金、海外どこでもATM出金、匿名デビットカード発行までワンストップで完全日本語サポート！マイナンバー不要！ #BTC #株 #FX #金 #ATMカード
https://t.co/52f10u8TGk
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Trend: down || Prices: 8815.66, 8808.26, 8708.09, 8491.99, 8550.76, 8577.98, 8309.29, 8206.15, 8027.27, 7642.75
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bakkt reports its revenue in Q3 rose 38% to $9.1m: Bakkt has revealed its first earnings report since it began trading on the New York Stock Exchange last month following a SPAC merger with VPC Impact Acquisition Holdings. According to the report, its net revenue increased by 38% to $9.1m, compared to $6.6 million in the third quarter of 2020, primarily due to higher customer activity in loyalty redemptions and the addition of a large financial institution on its loyalty platform. Operating expense stood at $39m – an increase of 60% compared to the third quarter of 2020 – primarily due to investments in business growth and closing the transaction. Net loss was $28.8m, compared to a $18m loss in the third quarter of 2020. Adjusted EBITDA (non-GAAP) was a loss of $24.1m compared to a loss of $12.3m compared to a year ago. Bakkt plans to evolve into more comprehensive platform “The company has made tremendous strides in proving Bakkt’s model, building strategic partnerships and enhancing its platform capabilities to connect the digital economy,” said Gavin Michael , CEO of Bakkt. “As we move forward, we will invest the proceeds from our recent business combination to activate our partnerships, further deploying our capabilities with consumers, businesses and institutions.” Michael added this, however, was all part of his plan for the company that has matured from primarily being a Bitcoin custodian and futures exchange to a much more comprehensive platform. Michael said he wants Bakkt, which recently partnered with Google Pay, to become the hub of an extensive ecosystem of business to business and consumer retail activity, with loyalty points and digital assets such as Bitcoin and Ethereum in the centre of it all. “We see businesses leveraging our platform to drive loyalty, and to deepen their customer relationships,” he continued. “They’re also able to innovate with crypto services and crypto rewards, appealing to a growing segment of digitally savvy customers.” || Bitcoin hits record high above $66,000 after blockbuster ETF launch: • Bitcoin rose as much as 3.8% to a record high of $66,560.73 on Wednesday after a strong debut for the first exchange-traded fund tracking the asset.
• The ProShares Bitcoin Strategy ETF saw more than 24 million shares change hands when it launched on Tuesday.
• This has opened the road for bitcoin to hit $80,000, Jeffrey Halley, senior market analyst at OANDA said.
• Sign up here for our daily newsletter, 10 Things Before the Opening Bell.
Bitcoin climbed as much as 3.8% to a record high of $66,560.73 on Wednesday, a day after the first exchange-traded fund tracking the cryptocurrency had thesecond-biggest trading debut of all time.
ProShares' Bitcoin Strategy ETF, which started trading on Tuesday, gives investors exposure to bitcoin via futures contracts rather than owning it outright. It is the first bitcoin futures ETF to gain regulatory approval in the US. It saw more than 24 million shares trade hands at its debut, according to Bloomberg data.
"The ETF will be a big factor for driving the price higher, as it allows a new wave of money to enter the market," Marcus Sotiriou, Sales Trader at GlobalBlock told Insider.
Bitcoin has gained around 50% in the space of a month, driven by the growing chances of the approval of an ETF that would open the market to much bigger investors. That compares with a rise of around 4% in the S&P 500.
The blockbuster launch has given most market-watchers conviction that bitcoin is set to climb further.
"Bitcoin will be trading higher than the current price by the end of the year and could reach over $100,000, but this is a very psychological barrier that may be difficult to overcome," Sotiriou said.
Bitcoin could even reach $168,000 by the end of the year because of the new ETF, Fundstrat said in anoteon Monday.
"A close above $65,000 opens the road to $80,000,"Jeffrey Halley, senior market analyst from OANDA said in a note to clients Wednesday.
The SEC may approve twomorebitcoin futures this month: the VanEck Bitcoin Strategy ETF, and the Valkyrie Bitcoin Strategy ETF. ETF provider and asset manager Invesco was originallyonthat list, but opted out this week.
Read the original article onBusiness Insider || UPDATE 2-Bitcoin falls from peak, doubts linger over U.S. ETF boost: * Hit record $67,016 on Wednesday * U.S. futures ETF seen as path to new investment flows * Yet J.P. Morgan analysts see impact as limited (Adds NEW YORK dateline; includes new bitcoin-linked ETFs set to launch, updates prices) By John McCrank and Tom Wilson NEW YORK/LONDON, Oct 21 (Reuters) - Bitcoin on Thursday pulled back from its all-time high struck a day earlier after the debut of the first U.S. bitcoin futures exchange-traded fund, though with more such ETFs set to launch, analysts questioned the impact on cryptocurrency investment flows. The world's largest cryptocurrency was down 3.02% at $64,000, at 10:45 a.m. Eastern time, after hitting a record $67,016 on Wednesday. Bitcoin's rally - six-months after its previous top of $64,895 - was fueled by the launch of the ProShares Bitcoin Strategy ETF. More futures-based bitcoin ETFs are close to launching, with The Valkyrie Bitcoin Strategy ETF set to begin trading on Friday on the Nasdaq under the ticker BTF, Nasdaq and Valkyrie confirmed. The VanEck Bitcoin Strategy ETF was expected to begin trading next week on Cboe under the ticker XBTF, Cboe said. Investors have bet the long-awaited launch of bitcoin ETFs will lead to greater investment from both retail and institutional investors. Yet some analysts at major banks voiced doubt over how long-lasting the boost to bitcoin's price from the ProShares ETF, which trades under the ticker BITO, would be. "Will the launch of BITO by itself bring significantly more fresh capital into bitcoin? We doubt it given the multitude of investment choices bitcoin investors already have," J.P. Morgan analysts wrote in a note. "The bulls are seeing this ETF as a new investment vehicle that would open the avenue for fresh capital to enter bitcoin markets. The bears are seeing the new ETF as only incremental addition to an already crowded space of bitcoin investment vehicles." Some market players see inflation risks, rather than new investment products, as driving bitcoin's recent rally. Story continues Still, others predicted that bitcoin's latest peak would lead to further gains this year. "We think it's going to go higher and we can get to $80 or $90,000 by the end of this year easy, but that won't be without volatility," said Matt Dibb, COO of Singapore-based Stack Funds. In the past few days, he said, traders were starting to pay high rates to borrow to buy bitcoin futures, "and that's a sign that we could be a bit overextended, and there could be a pullback to come." Ether, the world's second largest cryptocurrency, rose 1% to $4,203 - close to its all-time high of $4,380, hit in May. (Reporting by John McCrank in New York and Tom Wilson in London; additional reporting by Alun John in Hong Kong; Editing by Edwina Gibbs, William Maclean and Alison Williams) || Fidelity Canada To Become The Country’s First Custodian For Bitcoin: Mutual funds are taking significant steps towards adopting Bitcoin ( BTC ) and helping to pave the way to offer digital assets across the traditional markets. Fidelity Clearing Canada ULC, a subsidiary of Fidelity Investments, received the green light from the domestic regulators to become the country’s first custodian for the world’s largest cryptocurrency by market capitalization. The approval was granted by the Investment Industry Regulatory Organization of Canada (IIROC), which cleared the ground for Fidelity Clearing Canada to make its inception into the custody and trading services offering for institutional investors. It covers portfolio managers, exchange-traded funds, pension funds, and mutual funds. Widespread Adoption Across Traditional Banking Industry Not only is Fidelity big in countries like the United States, but Canada, as its branch in the North American country, offers services to over 100 domestic investment companies. “The demand for investing in digital assets is growing considerably, and institutional investors have been looking for a regulated dealer platform to access this asset class,” Scott Mackenzie, president of Fidelity Clearing Canada, commented in an interview with The Globe and Mail. The mutual funds firm had also applied recently for launching two Bitcoin-related funds in Canada – a country known for being the home of the world’s first BTC ETF approved by the Ontario Securities Commission (OSC) in February. Bullish For Bitcoin? Fidelity’s maneuver could be seen as another bullish sign for Bitcoin’s prices, as once Mike Novogratz, Galaxy Digital’s CEO, said. He commented that Fidelity allowing its retail clients to buy Bitcoin could be the most bullish factor for BTC. As of press time, Bitcoin is challenging a demand zone around $58,950, where buyers could pick up steam to again look for a consolidation above the 200-period simple moving average at the H4 chart. However, if the crypto pierces below $58,000, doors will open for a leg lower towards the $56,000 as the next tough nut to crack, followed by the $54,450 zone. The RSI indicator is hovering around the oversold territory. Story continues This article was originally posted on FX Empire More From FXEMPIRE: GBP/USD Price Forecast – British Pound Pierces 1.35 Level Oil Price Fundamental Daily Forecast – Recovery Suggests Traders Aren’t Too Worried About Strategic Releases Natural Gas Price Forecast – Natural Gas Markets Form Bullish Harami Silver Price Daily Forecast – Test Of Support At $24.80 Why NVIDIA Stock Is Up By 10% Today USD/JPY Price Forecast – US Dollar Recovers Against Japanese Yen || CSPro Chain Announces Its CSPRO Token Presale: ISTANBUL, Turkey, Oct. 18, 2021 (GLOBE NEWSWIRE) -- CSPro Chain is excited to announce the launch of its smart chain token, CSPRO. CSPRO is a token of the BEP-20 standard in the Binance smart chain network with a unique algorithm and technical functions. It was developed as a fully decentralized application (DApp). The main task that CSPRO sets itself is to make mining accessible for all people on the planet regardless of their place of residence and access to cheap electricity.
CSPRO's Presale
This Presale will last 21 days. And it consists of 7 phases. Note that each Phase will last 3 days and the price will gradually go up.
• Phase 1 | 0.4 $ 1250000 CSPro token
• Phase 2 | 0.5 $ 1500000 CSPro token
• Phase 3 | 0.6 $ 1800000 CSPro token
• Phase 4 | 0.7 $ 2000000 CSPro token
• Phase 5 | 0.75$ 2250000 CSPro token
• Phase 6 | 0. 8 $ 2500000 CSPro token
• Phase 7 | 0.85$ 3000000 CSPro token
Referral Code
The user will receive 5% of the USDT amount used to purchase CSPRO using the referral code and this is only for the first level. Airdrop has started on telegram already. Anyone can participate for a chance to win more CSPRO Tokens. Right after the Presale ends, CSPRO Chain will list CSPRO on pancake swap exchange platforms.
Features about CSPRO token
1. Proof of Active: Proof of Active or Proof of Activity is a mining algorithm that represents the situation where the equipment for mining is turned on and active (i.e connected to the internet) to receive rewards.
2. Memo Feature: People using cryptocurrencies usually have more than one exchange account. For example, exchange A has two members named Mark and Racheal.
Mark sends 1.5 BTC to his BTC address on the exchange and 0.5 BTC to Racheal. Exchange A cannot know whether these BTC deposits came from Mark or Racheal because it has one shared account for all users. That is why to differentiate Mark's funds from Racheal assets, Exchange has to open a separate BTC account for each member. It requires an extra fee and a lot of effort. That is why Exchange users have to pay so high commissions to work on exchange.
3. Reverse Halving and Reward Distribution: When the reward block is found in accordance with the CSPRO algorithm, active miners are required to sign the contract. Miners must be constantly connected to the Blockchain network through a mining program. To prove this, they must do the signing process. Signing is restricted to 300 blocks. Miners who do not sign 300 blocks are rejected in transactions because they do not match the conditions of Proof of Active consensus.
4. Green Mining: The Green Mining concept, which is friendly to nature, people, and energy resources, allows users to mine with minimum cost. Users can easily mine without purchasing expensive equipment and paying high electricity bills. A minimum of 5000 CSPRO must be staked to the CSPRO smart contract in order to mine. And after that, the miner may receive rewards for 90 days. In order to continue mining at the end of 90 days, Staked Tokens must be withdrawn from the contract and restaked.
CSPRO has an ecosystem that consists of;
• Personal Mining
• Mining Pools
• CSPRO foundation
• CSPRO Academy
Personal Mining: This is the action whereby users stake CSPRO Token into a contract and be a miner over their Personal Computer or virtual server. With a sufficient amount of staked CSPRO Token and a computer connected to the internet, anyone can do personal mining.
Pool Mining: users who cannot keep their computer turned on continuously or have internet connection problems can use this method. All they need to do to mine is to cooperate with other users when they stake enough CSPRO Tokens.
CSPRO Foundation: This is a non-governmental organization that will be set up for the CSPRO project to operate more effectively in the field of social responsibility and software development areas. The goal is to continue the development and improvement of the blockchain to ensure its development
CSPRO Academy: It is an educational program that aims to produce quality content by operating in digital media, especially Youtube and with university clubs, which was established to inform everyone who is interested in the crypto industry and to heighten their experience, whether they own a CSPRO token or not.
ROADMAP
ICO Crypto is developing a global data-driven platform for the world. This is powered by blockchain and smart contracts.
A detailed road map is published on the presale website for you to read.
About CSPro Chain
CSPro Chain is a decentralized financial payment network that rebuilds the traditional payment stack on the blockchain. It utilizes a basket of fiat-pegged stablecoins, algorithmically stabilized by its reserve currency CSPRO, to facilitate programmable payments and open financial infrastructure development. As of December 2020, the network has transacted an estimated $299 billion for over 2 million users.
Don't forget that pre-sale will start the 20 october 2021. As mentioned above; Prices of each phase are already listed but the opportunity to gain more tokens comes when purchases are made within the first periods and a referral code of 5% of the purchased amount is given in USDT.
Social media
Instagram:https://www.instagram.com/csproofficial
Twitter:https://twitter.com/CsProOfficial?s=09
Facebook:https://www.facebook.com/CsProOfficial/
Telegram:https://t.me/joinchat/r3Hug-GU6k02ZDRk
Discord:https://discord.com/channels/@me
Youtube:https://www.youtube.com/channel/UCmpgu8O6WS4Y5fiW33ms5hQ
Reddit:https://www.reddit.com/user/CsProChain
LınkedIn:https://www.linkedin.com/company/csprochain/about/
Medium:https://medium.com/@csprosocial
Media Contacts
Company: CSPro Chain
Contact: Marketing team
Email:[email protected]
Website:https://csprochain.net/
SOURCE: CSPro Chain || GLOBAL MARKETS-Global equities rally to reach new record, dollar rises ahead of big Fed meeting: (Recasts with latest market activity, adds analyst comment, adds WASHINGTON to dateline)
* Asian shares hit by China worries
* MSCI all-country index hits record, European close higher
* RBA drops yield target; focus on Fed meeting
By Katanga Johnson and Herbert Lash
WASHINGTON/NEW YORK, Nov 2 (Reuters) - World shares reached new records on Tuesday, lifted by rising U.S. and European stocks, while the latest batch of earnings reports bolstered the dollar as investors await the Federal Reserve's plans to taper its massive stimulus.
All three major U.S. stock indexes hit intraday record highs during the session.
The STOXX 600 in Europe also posted a record close on strong corporate results as France's CAC 40 index hit its highest level since 2000.
The Australian dollar fell after the Reserve Bank of Australia (RBA) sounded a more dovish tone than expected in the first of three much-anticipated central bank meetings this week.
The Fed will release a statement at the end of its two-day meeting on Wednesday, when it is expected to announce the start of tapering its bond-buying program. Markets also are pricing an interest rate hike at the Bank of England meeting on Thursday.
"Most times, markets are happiest when they get predictability, when they get what they expect, and I think the expectation is that they are going to taper," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.
MSCI's all-country world index, which tracks equity performance in 50 nations, gained 0.14% to close at a record 749.53. The pan-European STOXX 600 rose 0.14%.
On Wall Street, the Dow Jones Industrial Average rose 0.39%, and the S&P 500 gained 0.37%. The Nasdaq Composite advanced 0.34%.
Asian equities and bonds were mixed as Chinese property developers worried about contagion from China Evergrande Group's debt crisis. A debt exchange from one of the country's top homebuilders triggered a flurry of credit warnings.
The Reserve Bank of Australia (RBA) on Tuesday sounded a more dovish tone than investors had anticipated, in the first of several central bank meetings this week, sending the Aussie to its biggest one-day loss since Sept. 29.
Short-dated Australian government bond yields fell and the Australian dollar slid 1.0% to $0.7448.
The U.S. dollar index, which tracks the greenback against a basket of six currencies, rose 0.181% even as the market has fully priced in a Fed taper announcement.
The euro fell 0.22% to $1.1581, while the yen strengthened 0.01%.
U.S. Treasury yields drifted as the market awaited the Fed's announcement.
The market does not believe economic growth is going to be very strong next year, said Joe LaVorgna, chief economist for the Americas at Natixis in New York.
"The real interest rate has stayed depressed if not slipped and that's really a function of where growth is. The market just doesn't believe growth is going to be very robust," LaVorgna said.
The 10-year U.S. Treasury note was down 2.4 basis points at 1.549%.
The chair of the U.S. Securities and Exchange Commission (SEC) said on Tuesday it will consider new oversight rules for some platforms for trading U.S. Treasuries, in a move aimed at boosting transparency and competition.
Meanwhile, European government bond yields fell, pausing from a selloff sparked by the European Central Bank last week disappointing expectations of a firm pushback against aggressive market pricing for rate hikes.
German 10-year yields slipped 0.8 basis point to -0.168%.
Oil traded below $85 a barrel on Tuesday, but remained close to a three-year high in choppy trade ahead of weekly U.S. supply reports expected to show a rise in crude inventories as traders also looked toward Thursday's OPEC+ meeting.
Brent was at $84.52, down 0.22% on the day while U.S. crude recently fell 0.63% to $83.52 per barrel.
Bitcoin rose 4.3% to $63,544.84.
(Reporting by Katanga Johnson in Washington and Herbert Lash in New York Editing by Alex Richardson and Matthew Lewis) || Bitcoin's Outsized Returns Too Good for Investors to Ignore: Expert: By Yasin Ebrahim
Investing.com – Bitcoin is riding a wave of optimism toward $60,000 that is unlikely to end as institutional investors are finding it difficult to ignore the popular crypto's outsized returns at a time when its making its mark as a legitimate reserve asset.
BTC/USD was up 0.81% to $57,438.
The outsized returns in bitcoin come as investors are beginning to appreciate that bitcoin is "establishing itself as a legitimate reserve asset," Greg King, CEO of Osprey Funds said in a recent interview with Investing.com. As activity on the Bitcoin network gathers pace, higher returns - that are uncorrelated with traditional investments like stocks and bonds - will follow, and drive up investor adoption.
"As the network effect takes place and more participants, enter the ecosystem that will drive outsize returns and also outsize volatility, King said. "Investors are always on the hunt for uncorrelated sources of return, especially if they are superior."
But the popular crypto's journey to establishing itself as a legitimate reserve asset is still in the early innings. More roads, or on-ramps, that pave access to bitcoin need to be developed.
On-ramps such as cryptocurrency exchanges or over-the-counter markets, which are more commonly used institutional investors with larger positions, play a vital role in bringing new investors and users into the cryptocurrency world.
Similar to the ease of accessing exposure to gold, eventually everyone who "wants to have positions in Bitcoin will be able to, and we'll reach an equilibrium," according to King.
"But we're not there because of the on ramps that still need to be built, the institutional processes that still need to be run, and the investment committees that need to fully understand and do due diligence and get comfortable [with bitcoin]," King added.
There are, however, some who suggest runway for bitcoin as a store of value or "digital gold," is limited, as its market cap of about $1 trillion may not have much room to run once it usurps the market cap of gold of about $10 trillion.
But unlike gold, bitcoin has more to offer than a simple store a value.
"Bitcoin's portability, divisibility, and ubiquity in a lot of ways is superior to that of gold ... you could have a situation where the market cap of bitcoin exceeds that of gold," King said.
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Binance continues push to become regulated crypto exchange with new hire || Jack Dorsey says Square is ‘considering’ building a Bitcoin mining system: Jack Dorsey says that Square is “considering” building its own Bitcoin mining system using custom silicon and open source software. “Square is considering building a Bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide,” Dorsey wrote ina Twitter threadFriday.
He added that such a project would follow a similar approach as the bitcoinhardware walletSquare began working on earlier this summer. But building a mining system would be considerably more complicated for the payments company than simply building a wallet. Creating custom chips is, as Dorsey points out, “very expensive,” and would be new territory for the payments company, which has been a major supporter of Bitcoin.
“Mining needs to be more efficient,” Dorsey wrote. “Driving towards clean and efficient energy use is great for Bitcoin’s economics, impact, and scalability. Energy is a system-level problem that requires innovation in silicon, software, and integration.”
As with his earlier tweets about plans for the hardware wallet, Dorsey didn’t share many details about how the mining system would actually work. But he said the goal would be to make mining more efficient and accessible to more people, which could address two of the most important issues related to cryptocurrency mining.
Bitcoin-related power usage has reachedrecord highsin recent years, raisingmajor concernsabout the cryptocurrency’s impact on climate change. Mining has also driven up the prices and scarcityof GPUs, which has made it increasingly difficult for the average crypto enthusiast to mine on their own.
"Bitcoin mining should be as easy as plugging a rig into a power source,” Dorsey said. Whether or not Square will be able to accomplish that, is less clear. He said that the company “will start the deep technical investigation required to take on this project,” and is hoping to hear feedback on the idea in the meantime. || GBP/USD Price Forecast – British Pound Stalls After Push Higher: TheBritish poundhas gone back and forth during the trading session on Wednesday, showing signs of hesitating after the initial massive surge higher. By doing so, the market looks very likely to continue seeing a lot of hesitation in this general vicinity, due to the fact that it had been important previously. Regardless, this is a market that is supported just below, especially near the 1.37 handle. This is a market that has seen a lot of interest in the 1.37 handle, not only due to the fact that there is structural noise there, but there is also the 50 and the 200 day EMA indicators in that same vicinity.
Looking at this chart, if we can break above the 1.3850 level, then we could go looking towards the 1.40 level. This is a market that probably goes higher over the longer term, but in the short term may need to do a bit of momentum building in order to make its decision. If we break down below the 1.3650 level, then it is likely that we see the market roll over, reaching towards the 1.35 handle over the longer term. That being said, the British pound has had a bit of a boost lately, due to the fact that the Bank of England looks very likely to raise interest rates between now and the end of the year. In that scenario, there may be a little bit of a repricing necessary for Sterling.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
• Gold Price Forecast – Gold Markets Continue to Pressure Major Resistance
• Crypto Hits the Mainstream as Bitcoin ETF Beats Expectations
• Natural Gas Price Forecast – Natural Gas Markets Hover at 50 Day EMA
• Gold Price Prediction – Prices Rise as the Dollar Drops
• GBP/USD Price Forecast – British Pound Stalls After Push Higher
• Anthem Shares Hit Record High After A Blowout Quarter || Hillary Clinton says cryptocurrency has the potential to destabilize nations and traditional currencies: • Hillary Clinton addressed the mining and trading of cryptocurrency at a Bloomberg economic panel.
• She warned about the rise of new crypto technologies amid complex relations between the US, China, and Russia.
• A cybersecurity expert told Insider her worries about the destabilizing potential of cryptocurrency are valid.
Hillary Clinton isn't a fan of cryptocurrency, and she thinks its widespread adoption could undermine traditional currencies, including the dollar, and destabilize nations, big and small.
The former Democratic presidential candidate and secretary of state made the comments via webcast during a panel discussion at the Bloomberg New Economy Forum in Singapore on Friday.
"What looks like a very interesting and somewhat exotic effort to literally mine new coins in order to trade with them has the potential for undermining currencies, for undermining the role of the dollar as the reserve currency, for destabilizing nations, perhaps starting with small ones but going much larger," she said.
Clinton's comments come as countries grapple with both the adoption and the regulation of cryptocurrencies. China hasbannedthe private use of cryptocurrencies, making all cryptocurrency-related business activitiesillegal. The recently passed $1 trillion US infrastructure bill brings tougher rules on crypto-trading taxes. Meantime, some developing nations are embracing crypto.El Salvador adopted bitcoin as legal tender inSeptemberwith the hope of bettering its economy andZimbabwe is considering doing the same.
The biggest companies in the world arealready using blockchain, the technologythat powers cryptocurrency, including Amazon, Cargill, CVS, IBM, Seagate, and Visa. CEOs includingElon Musk, Richard Branson, and Jack Dorsey, and government officials such asMiami Mayor Francis Suarezand incomingNew York Mayor Eric Adams, have all voiced support for cryptocurrency and its wider adoption.
Meantime, North America hasbecome the world's biggest victim of ransomware attacks- paying a hefty $131 million in cryptocurrency to criminals in just one year amid the rapid rise of cryptocurrency adoption, a new study byChainalysisshowed.
Most of the crypto-based attacks were associated with Russia-based cybercriminal groups, the study added.
Clinton's concerns about crypto were "spot-on," economic regulations expertJohn Reed Stark, who spent 11 years as the chief of the SEC's Office of Internet Enforcement, told Insider.
"The investment in cryptocurrency goes against every basic rule of investor protection," Stark told Insider. "Bitcoin and other cryptocurrencies trade on platforms that don't have any of the safety mechanisms that traditional exchanges have."
Clinton also addressed the topic of cybersecurity during the panel in relation to foreign disinformation campaigns and cyberwarfare that continue to pose challenges to the US and other Western states.
Read the original article onBusiness Insider
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 50582.62, 50700.09, 50504.80, 47672.12, 47243.30, 49362.51, 50098.34, 46737.48, 46612.63, 48896.72
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-07-25]
BTC Price: 8181.39, BTC RSI: 71.20
Gold Price: 1231.40, Gold RSI: 37.56
Oil Price: 69.30, Oil RSI: 48.35
[Random Sample of News (last 60 days)]
Oil Prices: Next Stop, $90 a Barrel?: Oil has been moving at a torrid pace over the past year, rising from under $50 a barrel to more than $70. While it took a breather over the last month, crude quickly resumed its ascent afterOPEC's production hike wasn't as much as feared. That's because new concerns have started arising that the boost won't be enough to offset a growing list of supply concerns.
These new worries could drive oil prices much higher than their current mid-$70 level over the next several months, with analysts atBank of America/Merrill Lynchbelieving crude could hit $90 a barrel by early next year. That would be very bullish for oil stocks.
Image source: Getty Images.
After being awash in oil for the last few years, crude supplies are shrinking fast. Production in Venezuela is in free-fall because of the country's increasing economic instability. After producing 2.3 million barrels per day (BPD) in early 2016, output was only 1.6 million BPD earlier this year and could fall by another half-million BPD in the coming months. Meanwhile, oil supplies in Libya have been under attack because of that country's continued civil unrest. On top of that,a power outage at the Syncrude oil sands facilityin Canada will keep the 360,000 BPD complex offline until the end of July.
More supplies could be coming offline soon. The U.S. is demanding that countries stop importing oil from Iran by November as part of anew round of sanctions. While it's unclear yet how much oil will come off the market, one analyst thought the sanctions could remove as many as 700,000 BPD. Meanwhile,pipeline constraints in Western Texaswill make it harder for U.S. oil producers to increase output in the Permian Basin that much further until the end of next year, when new pipelines come online.
These factors led Bank of America to conclude that "we are in a very attractive oil price environment." In its view, "oil will hit $90 by the end of the second quarter of next year."
Image source: Getty Images.
That prediction would have been unfathomable just a few months ago. While some oil bulls thoughtprices could surprise to the upside, theconsensus outlookwas that crude would be in the low to mid $50s this year thanks to surging U.S. oil production. Because of that, most producers based their budgets on oil averaging $50 a barrel, includingEOG Resources(NYSE: EOG),Marathon Oil(NYSE: MRO), andAnadarko Petroleum(NYSE: APC). In EOG Resources' case, $50 oil would provide it with the cash flow to pay a dividend that was 10.4% higher than 2017's level and drill 690 more wells, which would boost oil production about 18%. Meanwhile, Marathon Oil could produce enough cash at that price point to pay its dividend and fund the new wells needed to boost companywide output 12% compared to last year. Anadarko Petroleum, likewise, could fully fund its dividend and a growth-focused capital plan, which would see it boost oil output 14% this year.
Because this oil-producing trio set their budgets for $50 oil, they stand to generate significant free cash at oil prices above that level. All three provided investors with a glimpse of that potential by forecasting what they could do at $60 a barrel, with Marathonsayingit would produce $500 million in free cash, Anadarko anticipating more than $800 million, and EOG predicting that it could haul in $1.5 billion in excess cash at that price point. Those numbers, meanwhile, would rise alongside the price of crude, positioning them to produce an absolute gusher if crude does top $90 a barrel. That would provide them with a boatload of money to use as they wish, including buying back stock, paying higher dividends, retiring debt, and investing in expansion projects.
With most oil producers aiming to run their business on $50 oil this year, they're cashing in on the current surge in crude prices and would reap an even bigger windfall if crude hits $90 a barrel. That outlook suggests that oil stocks could have much further to run, which makes now a good time to consider buying atop oil stockto profit from what appears to be a "very attractive oil price environment."
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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. || Stellar Price Continues to Moon, Sees 10% Increase in 4 hours: Bitcoin price The stellar price reached a two-month high on Wednesday evening as it soared by well over 10% on major exchanges to reach a value of $0.33 on Bitfinex. Although there did not seem to be any particular news today to trigger this spike, the cryptocurrency — more accurately referred to as lumens (XLM) — has been in the news of late with considerable positive developments. XLM’s volume also increased considerably on Binance , with over $17.5 million traded as at 10PM GMT. The development from Coinbase last week had also seen the stellar price shoot up by as much as 25% over a few days, and with today’s increase, the coin is around 40% up from its low of $0.17 registered in June. stellar price chart xlm lumens The recent move by Coinbase created a wave of positive price appreciation for the currencies, with stellar posting a gain of 22% since the news was first released. XLM fans rejoiced over the reversal in 2018’s bear cycle, which saw their coin fall nearly 85% in value since the start of the year. Additionally, the fact that the computing giant IBM is using stellar to pair with a digital stablecoin also gave a good hike to positive sentiment about XLM. In comparison, bitcoin is up by around 2% to retake the $8,200 level whilst other coins such as EOS and bitcoin cash were showing marginal improvements over the past few hours. Another positive development could have been the announcement that BitIra also added stellar to its platform. The lesser-known California-based exchange continued its steady expansion of available coins with the addition of stellar (XLM) and zcash (ZEC), which joined bitcoin (BTC), ethereum (ETH), litecoin (LTC), ripple (XRP), bitcoin cash (BCH), and ethereum classic (ETC) as investment opportunities for its customers. Finally, another interesting development was the fact that the Stellar Foundation received certification from Islamic scholars of Shariyah Review Bureau (SRB) for its blockchain network and its native token to be used in Sharia-compliant financial products. Story continues With the certification in place, Stellar — both the organization and the currency — will now have access to the vast Middle Eastern and South East Asian markets where Islamic banking and Sharia-compliant products have a strong demand. The certification also provides XLM with an advantage over rival cryptocurrency XRP — often stylized as “ripple” due to its association with the company of the same name — in the Middle East within the payments and remittances space. Featured Image from Shutterstock The post Stellar Price Continues to Moon, Sees 10% Increase in 4 hours appeared first on CCN . || Could iRobot Corporation Be a Millionaire Maker Stock?: iRobot Corporation's(NASDAQ: IRBT)stock has fallen nearly 40% from its 52-week high as everything from concerns over holiday discounting toweaker than expected guidance have hit the stock.Through it all, however, revenue and net income have continued to charge higher for the robotic vacuum maker.
If we take a long-term view of iRobot's business, there's still a lot to like, and this could be a stock that generates a lot of wealth over time.
IRBT Revenue (TTM)data byYCharts
Robotic vacuums may not sound like a booming business, but iRobot is already generating nearly $1 billion in revenue per year, and is just scratching the surface of its potential. According to iRobot's management, RVC's installed base of 13 million households is only about 10% of its potential market in the U.S.
Another way to look at it is that robotic vacuum cleaners (RVCs) only accounted for 23% of the $7.5 billion spent on $200+ vacuums in 2017. Competitors likeSamsung,LG,Panasonic, and others have tried to enter the RVC space, but iRobot has maintained its niche and holds a 62% market share of RVCs globally.
There's a lot of potential for RVCs to increase their market share globally, and that's a wave iRobot can ride for years to come.
Image source: iRobot.
As much as I like iRobot's vacuum business, it's the company's growth into adjacent markets that will probably power long-term growth. iRobot isn't just developing a remote control vacuum, it's developing the controls that power the Roomba's movement and the mapping software that makes sure an entire home is cleaned. That's technology that can be used in a number of adjacent markets.
iRobot has already extended the product line to the Braava mop and the Mirra pool cleaner. Both products extend the niche of cleaning robots, andleverage technology originally developed for Roomba.
Management isn't disclosing what its high-risk growth projects consist of, but we know lawn care is an area where iRobot has tested products. The product hasn't hit the market yet, but it's easy to see how movement controls and mapping technology developed for the home could be translated to the lawn as well.
What I like about iRobot is that it's a focused company with a profitable niche. An advantage of owning a niche like robotic vacuums is that development costs can be spread across a higher volume of sales. Operating leverage on development costs have combined with economies of scale to push margins 500 basis points higher in the last six years, and that trend should continue.
iRobot has also just started to scratch the surface of its global potential. I mentioned that the U.S. market penetration for RVCs is only 10%, and U.S. sales are expected to account for half of all sales in 2018. iRobot has expanded into Europe, the Middle East, Africa, and Japan, but most of Asia and Latin America are still untapped.
Shares of iRobot aren't cheap at nearly 30 times 2018 earnings estimates, but given the growth the company has demonstrated and the potential for growth going forward, I think it's still a great buy for investors. Long-term, it's the kind of stock that can make investors millionaires.
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• The $16,122 Social Security Bonus You Cannot Afford to Miss
• Bitcoin's Biggest Competitor Isn't Ethereum -- It's This
Travis Hoiumhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends iRobot. The Motley Fool has adisclosure policy. || Escalating trade fight weighs on global stocks, boosts Treasuries: By Laila Kearney
NEW YORK (Reuters) - Global stock markets sank on Monday as the trade fight between the United States and other top economies escalated, and benchmark Wall Street indexes suffered their worst losses in more than two months while safe-haven investments gained.
U.S. Treasury Secretary Steven Mnuchin on Monday said forthcoming investment restrictions would apply "to all countries that are trying to steal our technology," not just to China.
Hours later, White House trade and manufacturing adviser Peter Navarro walked back Mnuchin's remarks, telling CNBC that the restrictions on investing in tech companies would just target China.
“People are scared," said Wayne Kaufman, chief market analyst at Phoenix Financial Services in New York. "The market does not like uncertainty, and a trade war is something that is difficult, if not impossible, to handicap."
On Wall Street, the Dow Jones Industrial Average fell 328.09 points, or 1.33 percent, to 24,252.8, the S&P 500 lost 37.81 points, or 1.37 percent, to 2,717.07, and the Nasdaq Composite dropped 160.81 points, or 2.09 percent, to 7,532.01.
The pan-European FTSEurofirst 300 index lost 2.19 percent and MSCI's gauge of stocks across the globe shed 1.41 percent.
Technology stocks bore the brunt of the damage. The S&P technology index fell 2.3 percent, the most among the major S&P 11 sectors.
Policymakers in China moved quickly to temper any potential economic drag from Beijing's dispute with the United States. Its central bank said on Sunday it would cut the amount of cash some banks must hold as reserves by 50 basis points to spur lending to smaller firms.
The European autos sector was hit by trade tensions between Washington and Europe, falling 2.4 percent in a seventh straight day of losses after U.S. President Donald Trump said on Friday he aimed to hike tariffs on European Union car imports by 20 percent.
The index of global auto manufacturers fell 1.5 percent.
A senior European Commission official said on Saturday the European Union would respond to any U.S. move to raise tariffs on cars made in the bloc.
Harley-Davidson Inc said on Monday it would move production of motorcycles shipped to the European Union from the United States to its international facilities and forecast the trading bloc's retaliatory tariffs would cost the company $90 million to $100 million a year.
The growing disputes have led investors to take refuge on safer ground.
Benchmark U.S. 10-year Treasury notes gained 5/32 in price to yield 2.884 percent, down from 2.900 percent late on Friday. The yield curve between 2-year and 10-year notes flattened to 33 basis points, the lowest level since 2007.
Gold hovered near last week's six-month low as investors chose Treasuries over bullion.
Oil fell as investors prepared for an extra 1 million barrels per day in output to hit the markets after OPEC and its partners agreed to raise production.
U.S. crude fell 0.73 percent to settle at $68.08 per barrel and Brent settled at $74.73, down 1.09 percent on the day.
In the currency market, the dollar index fell 0.22 percent, with the euro up 0.38 percent to $1.1699.
The Japanese yen strengthened 0.21 percent versus the greenback, at 109.74 per dollar, while sterling was last trading at $1.3279, up 0.08 percent.
The Turkish lira rose on expectations of a stable government after Tayyip Erdogan and his ruling AK Party claimed victory in presidential and parliamentary polls.
Bitcoin steadied after hitting seven-month lows over the weekend as the security of cryptocurrency exchange operators came under more scrutiny.
(Additional reporting by Amanda Cooper in London, Sanjana Shivdas in Bengaluru and Karen Brettell and Stephen Culp in New York; Editing by Dan Grebler and Leslie Adler) || Indian Law Commission Recognizes Cryptocurrency as an ‘Electronic Payment’: Report: India Bitcoin cryptocurrency The cryptocurrency ecosystem in India may have just found a lifeline, albeit an unlikely one. According to a legal report released in July 2018, the country’s lawmakers are considering legalizing the multi-million dollar sports betting industry – naming cryptocurrencies as a legally acceptable payment method akin to credit and debit cards. India Explores Cryptocurrencies in Sports Betting Titled “ Legal Framework: Gambling and Sports Betting including Cricket in India ,” the report explores the usage of digital payment mechanisms, including cryptocurrencies, as the country prepares to legalize the sports betting sector. The report stems after police investigations into million-dollar betting allegations during the popular Indian Premier League (IPL) cricket matches revealed fan-favorite celebrities and politicians used “black money” for placing their bets, superseding the government’s widespread, yet ineffective, crackdown on betting circles. After observing this fallacy, judges of the Indian Supreme Court proposed the legalization of the sports betting market, while appointing the Lodha Committee to explore this suggestion further while collaborating with the Board of Control for Cricket India ( BCCI ). The committee stated there is a subtle boundary between match-fixing and recreational betting, and the former could undoubtedly remain a legal offense while the latter could serve as a means of generating tax, after legal regulation. Interesting, the law commision considered cryptocurrencies as a method of digital payment akin to credit cards, debit cards, and net banking, stating: “Similar restrictions should also be prescribed for the purpose of the amount one would be allowed to stake while using electronic money facilities of the likes of credit cards, debit cards, net-banking, VCs, etc.” Citizens Await Cryptocurrency Regulations The commission noted betting activities have become potentially more accessible in recent years after the rise of cryptocurrencies “since the transactions are difficult to trace.” Story continues Unlike many countries, the Indian government made sports betting, and other forms of gambling, an illegal activity since the 1800’s. However, people flocked to using cash for placing their bets and created a criminal, yet vibrant, betting industry over the years. Nischal Shetty, the founder of peer-to-peer cryptocurrency exchange WazirX, told Quartz: “It is the first time that a body appointed by the government has given recognition to virtual currencies that they have value and can be used for a transaction. Therefore, it is a very positive sign, especially considering the report has come out after a lot of deliberation.” Following the Indian central bank’s crackdown on cryptocurrencies, crypto-enthusiasts are awaiting developments and regulations for the burgeoning sector. At the time of writing, money cannot be withdrawn from cryptocurrency exchanges, although peer-to-peer exchanges like WazirX and Koinex Loop make cashing out possible. The much-awaited July regulation on the legality of cryptocurrencies was shifted for September 11, 2018, hearing in the Indian Supreme court, as reported by CCN . Featured image from Shutterstock. The post Indian Law Commission Recognizes Cryptocurrency as an ‘Electronic Payment’: Report appeared first on CCN . || Apple Reportedly Making Progress Bringing on Second OLED Supplier: The OLED display on last year's iPhone X is one of that flagship's headline features, but thus far Apple (NASDAQ: AAPL) has relied entirely on a single source for OLED panels, frenemy Samsung . Only having one supplier for a critical component is never ideal, as it gives that supplier much better negotiating leverage. The premium prices associated with OLED displays are a significant contributing factor to iPhone X's lofty price point, and Apple has reportedly been seeking pricing concessions from the South Korean conglomerate. Apple has been working to bring LG Display (NYSE: LPL) onboard as a second supplier , but the latter company has been hitting roadblocks in terms of manufacturing capacity and quality requirements. However, it sounds like LG is making progress. iPhone X lineup Image source: Apple. A small start Bloomberg reports that a deal with LG is imminent, although the supplier is only expected to provide a relatively small number of units to Apple -- just 2 million to 4 million. Apple sold 77.3 million total iPhones in the fourth quarter alone, although it does not disclose unit mix, so it's not clear how many of those were iPhone X models with OLED displays. That would just be a start though, paving the way for the company to purchase "significant volumes" from LG in 2019, according to the report. Apple is expected to release three new iPhones in 2018, of which two will incorporate OLED displays. LG is vying to be the sole supplier for at least one of those models but may not be able to secure such a commitment from Apple. China's BOE Technology, one of numerous Chinese companies investing in OLED capacity , is also in talks with Apple to supply OLED panels, although it remains behind schedule with production. The more OLED suppliers that can ramp production capacity, the better for Apple, as ensuing competition among suppliers would help drive down costs and subsequently accelerate adoption in the form of lower consumer prices. Story continues OLED setbacks More broadly, the OLED market has hit some setbacks recently, which have weighed on Universal Display (NASDAQ: OLED) : Shares are down 60% from the all-time high set in January. For example, market leader Samsung saw OLED shipments fall 26% in the first quarter to 88 million units, according to UBI Research. UBI was expecting the market to start recovering this quarter, but CLSA thinks it will take longer than that. Samsung's capacity utilization is still extremely low at around 35%, but this figure should rise to 80% in the second half of the year, in CLSA's view. OLED technology should still enjoy a few years as the dominant display technology once it reaches mainstream adoption, despite some technological threats on the horizon like MicroLED. It will just take some time to get there, but at least Apple is now pitching in to catalyze adoption. 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 Evan Niu, CFA owns shares of Apple and Universal Display. The Motley Fool owns shares of and recommends Apple and Universal Display. 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 . || What Percentage of Americans Have Nothing Saved for Retirement?: The older you are, the better the odds that you have at least begun to set some money aside for retirement. Even so, there remain significant numbers of Generation Xers -- and even baby boomers -- who have nothing saved for their golden years, according to new research fromPersonal Capital.
Among millennials, 39% had a goose-egg in the retirement savings column. That number gets a little lower for Gen Xers, to 34%, and still further to 32% for baby boomers, according to the online survey of 2,008 U.S. adults. But that's still essentially 1 in 3 older workers totally unready for the next phase of their lives.
"Saving for retirement isn't what it used to be: strategies that set the standard 20 years ago, like Social Security and pensions, are no longer safety nets for funding Americans' retirement dreams," said Personal Capital CEO Jay Shah in a press release. "With the retirement landscape changing, it's more important than ever for Americans to improve and act on their financial knowledge."
It takes long-term planning to retire with financial security. Image source: Getty Images.
Roughly a quarter of the 1,630 pre-retirees surveyed said they believe Social Security will be their primary source of retirement income (with 15% of millennials and 29% of Generation X feeling that way). That group either doesn't understand how much they can expect to receive from Social Security, or they're planning for fairly modest lifestyles."On average, retired workers walked away with a monthly check of $1,406.91, or $16,882.92 a year," wrote the Motley Fool's Sean Williams inan articledetailing January's payouts from the program.The study also found distinct differences between men and women when it comes to how they understand their financial needs. Significantly more women than men (62% vs. 47%) agreed "that sticking to a comprehensive financial plan" is key when it comes to properly preparing for retirement. Yet 40% of women said they had nothing saved or retirement compared to 33% of men.
"Women have the know-how to save for retirement, but the cards are stacked against them: they have longer lifespans that require higher savings goals, are frequently in lower-paying careers, and don't have the same plan options afforded to them as many of their male counterparts," said Personal Capital Vice President Michelle Brownstein in the press release.
It's important for workers of any age to recognize the limits ofSocial Security. You might be on track for a higher-than-average payout, but if that's the case, it's because you're earning an above-average income, so your standard of living may be higher.
Before you can make a plan to save for retirement, you need to figure out how much you're likely to need. That's a task you can do on your own if you put in the research time, or it's something you can hash out with a financial planner.
Be realistic. If you plan to downsize or move someplace less expensive, factor those anticipated savings in -- but don't assume your expenses will fall dramatically. The other side of the equation features any number of areas where your expenses might rise. The longer you live in a home, the more likely you are to be hit with a major repair bill, for example, and most of us won't go through our elder years without a health crisis or several.
Once you have a financial target -- perhaps you want to replace 80% of your before-retirement income -- you need to make a savings plan that can get you there. That may require sacrifice -- especially if you're not in your 20s and 30s -- but the sooner you get out of that chunk of your demographic that's totally unready for their post-working lives, the better.
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The Motley Fool has adisclosure policy. || Intel's CEO Just Validated the AMD Data Center Processor Threat: Nomura Securities recently published a research note in which it says that Intel (NASDAQ: INTC) CEO Brian Krzanich "was very matter-of-fact in saying that Intel would lose server share to AMD (NASDAQ: AMD) in the second half of 2018." "This wasn't new news," the analysts said, "but we thought it was interesting that Krzanich did not draw a firm line in the sand as it relates to AMD's potential gains in servers." A wafer of processors. Image source: Intel. Apparently, according to the analysts, Krzanich merely "indicated that it was Intel's job not to let AMD capture 15-20% market share." Once this research note was widely disseminated, AMD stock rose more than 3% during the June 11 trading session while Intel stock shed nearly 1%. Clearly, investors interpreted Krzanich's remarks as positive for AMD and negative for Intel. It's not hard to see why. Intel's pain could be AMD's gain The fact that Krzanich is talking about trying to prevent losing 15-20% data center processor share to AMD tells me that Intel does, in fact, see AMD as a pretty serious threat to its lucrative data center business. The reason that this could put off investors is that Intel has been quite public about how it expects its data center group -- its second-largest business today in terms of revenue and profits -- to be its main growth engine for years to come. Going from virtually 100% market segment share to making it the company's mission "not to let AMD capture 15-20% market share" doesn't inspire a ton of confidence in Intel's outlook for its position in the data center processor market. For some context, Intel's data center processor business raked in $17.44 billion in 2017 (Intel's total data center revenue, which came in at $19.06 billion that year, included non-processor products). If AMD were to capture between 15% and 20% of that revenue, it could rake in between $2.62 and $3.49 billion in annual data center processor revenue -- and those figures could grow as the market expands. Story continues Considering that AMD's total revenue in 2017 was $5.33 billion and, according to analyst estimates , is set to hit $6.7 billion in 2018, that incremental data center revenue could really move the needle for AMD. Moreover, since that revenue would likely come in at gross profit margin levels well above AMD's corporate average, it could have a disproportionately positive impact on the company's profitability. Losing that revenue would clearly slow Intel down in the data center processor market; at a minimum, that loss could manifest itself as revenue loss, but there's also potential for gross profit margin compression, as well. In a nutshell, AMD gaining significant data center processor share from Intel would be a clear positive for AMD and a clear negative for Intel. I'm not going to make a prediction here about what might happen, but I'd imagine that the investors who were scooping up AMD shares (as well as possibly selling or shorting Intel stock) after Krzanich's comments were thinking along similar lines. Intel's response After the Nomura report was published, I reached out to Intel for comment. Intel told me that its communications team "decided not to elaborate on data center competition and [Brian Krzanich's] remarks to Nomura beyond the below statement." Here was that statement, in full: We see significant opportunities for growth in the data center -- an estimated $70 billion market opportunity by 2021 where we have an opportunity to grow our total silicon datacenter market segment share from where we are today. To win, we will continue our history of CPU leadership and deliver the broadest portfolio of products that, when combined, change the basis of competition in the data center. While we are prepared for a more competitive environment as we move through 2018, we've already factored that into our financial forecast and we're in a great position to compete. We remain very confident in our products, our roadmap and our competitive position. For example, Intel® Xeon® processor Scalable family represents the biggest advancements in platform capabilities in a decade and later this year we'll introduce breakthrough new Intel Optane DC persistent memory and storage technology architected specifically for the data center In this statement, Intel acknowledges that it'll be facing a "more competitive environment" and says that its current financial guidance for the year already bakes in the increased competition from AMD and, potentially, others. The reason this statement leaves a bad taste in my mouth is that Intel is claiming that it's so confident in its products and platform capabilities, and is in a "great position to compete," yet the CEO -- who, late last year, dumped just about every share of Intel stock that he possibly could -- is telling analysts that he's expecting to cede market share to AMD and that the company's "job" is to keep that share loss from getting too out of hand. Moreover, while Intel's statement indicates that its 2018 financial guidance already contemplates a "more competitive environment," the reality is that AMD has publicly stated that it aims to achieve "mid-single digit" data center processor market share by the end of 2018. If AMD can maintain or even build off of that market share during all four quarters of 2019 -- something that AMD management seems optimistic about doing -- then it's not Intel's data center group performance in 2018 that investors should be worried about, but its performance in subsequent years. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Ashraf Eassa owns shares of Advanced Micro Devices. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || What Investors Missed in Five Below's Earnings Report: Five Below's(NASDAQ: FIVE)recent earnings report seemed to hit all of the notes that investors wanted to hear. The retailer's sales shot up by almost 30% and earnings more than doubled in the first quarter. Better still, since both the top- and bottom-line figures beat management's expectations, executives raised their 2018 outlook on both counts.
Sharessoared in response to the news, but there are some good reasons for investors to temper their enthusiasm about this trendy business.
Image source: Getty Images.
Five Below's sales gains weren't as impressive as they might seem at a glance, for example. The 27% revenue spike was mostly powered by the retailer's quickly growing store base. Sales at existing locations rose by a more modest 3.2% that was actually near the low end of the guidance range that management issued back in late March.
And that comparable-store sales uptick wasn't particularly strong, either. In aconference call with investors, CEO Joel Anderson and his team explained that the increase was driven entirely by higher average spending, with customer traffic declining slightly during the period. Five Below suffered from the same weather-driven traffic challenges that other retailers witnessed. It also had to deal with tough comparisons with a prior-year period that included unusually strong demand around what management describes as the "spinner craze."
The profit performance was solid, but unspectacular, too. Sure, gross profit margin expanded to 32.8% of sales from 31.7%. This improvement combined with decreased selling and administrative expenses to push operating income up to 8.3% of sales from 5.5% of sales a year ago.
However, Five Below had some unusually high costs in the year-ago period related to employee incentives and the retailer's initial push into the California market. These investments reduced gross profitability and raised expenses last year, which made it that much easier to post improvements in these metrics this time around.
In fact, Anderson and his team are still forecasting a modest profitability decline in each of the next three quarters, just as they did back in March. The slight increase in expected earnings, meanwhile, likely has to do with the fact that management sees the tax rate falling to 23.5% for the year, rather than the 24.5% rate they had previously estimated.
Five Below didn't materially change its sales growth outlook, either. Comps are expected to be flat in the second quarter as the company continues to face challenges tied to the prior year's strong demand for spinners. Sales at existing locations are still expected to rise by between 1% and 2% for the full year while the addition of 125 stores pushes overall revenue up by approximately 20%.
Those top- and bottom-line forecasts are healthy, and they both support management's aggressive investment thesis that sees Five Below's store base rising to as many as 2,500 locations over the long term, up from 650 today. The retailer appears to have plenty of room to march toward that goal as it expands beyond its current 32-state presence.
But the first-quarter results didn't lift the company above the trajectory that investors have been watchingfor several quarters now, either. Five Below is still enjoying positive momentum that should protect its impressive streak of 20% annual sales gains. Its soft customer traffic numbers and modest profitability gains, meanwhile, paint the picture of a company that's doing its best to deal with the same demand challenges that are impacting other retailers in the industry.
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Demitrios Kalogeropouloshas no position in any of the stocks mentioned. The Motley Fool recommends Five Below. The Motley Fool has adisclosure policy. || Why Oil Stocks Could Have Much Further to Run: Crude oil has been on a blistering pace over the past year. The price of a barrel of Brent, the global benchmark, is up nearly 60%, while its U.S. counterpart, WTI, has risen more than 40%. Because of that, oil stocks have rallied sharply, with the average one held by theiShares U.S. Oil & Gas Exploration & Production ETFup almost 30%.
However, given the current state of the oil market, oil stocks could have much further to run, which means there's still plenty of opportunity for investors.
Image source: Getty Images.
The International Energy Agency (IEA) recently released its monthly oil market report, which provided its first glimpse at 2019. The IEA noted that the rapid rise in oil prices over the past year has started to cool off demand,which was red-hot to start 2018. However, even though the IEA pared its 2018 demand growth forecast back slightly to 1.4 million barrels per day (BPD), it doesn't anticipate a further slowdown in 2019. Instead, it expects oil demand to maintain its current pace and rise by another 1.4 million BPD next year.
Meanwhile, the IEA sees oil production rising to roughly match demand. The U.S. will lead the charge, contributing about 75% of the increase in supplies next year. Meanwhile, OPEC appears poised to boost its output in 2019. However, supply issues in Venezuela and theimpact of new sanctions on Iranlikely will offset much of that increase.
Because of that, the IEA concluded that the "market will be finely balanced next year." That leads it to believe that oil prices will remain around the current level even if OPEC boosts its output to compensate for the supply issues in Iran and Venezuela. However, it also warned that those supply concerns leave the oil market "vulnerable to prices rising higher in the event of further disruption" in supply.
Image source: Getty Images.
The IEA's forecast bodes well for oil stocks, especially those that have underperformed during the rally over the past year. Two that stand out areNewfield Exploration(NYSE: NFX)andApache(NYSE: APA), since both have lost value even though oil has been red-hot. Because of that, they trade atdirt cheap valuations versus their peers. That underperformance doesn't make sense given the growth these companies can deliver at much lower oil prices.
In Newfield's case, it expects to grow production per debt-adjusted share -- which takes into account debt reduction and stock buybacks -- by a 15% to 20% compound annual rate through 2020. Further, Newfield can achieve that fast-paced growth while living within the cash flows it can generate at $55 oil, which is well below the current price, implying that the company can produce a gusher of free cash in the coming years. Meanwhile, Apache sees output rising at an 11% to 13% annual rate through 2020. That growth should lift these oil stocks even if oil prices slip from here.
Another oil stock that could be a standout performer in the coming years isNoble Energy(NYSE: NBL). For starters, its stock has significantly underperformed the iShares E&P ETF, only gaining about 16% over the past year. That trend could reverse as Noble's operations kick into high gear in the next couple of years.
Under the company's current forecast, at an average oil price of $50 a barrel, Noble can grow production at a 20% compound annual rate through 2020 and generate $1.5 billion of excess cash. Noble Energy plans to return a significant portion of that money to investors via its share repurchase program and has already authorized a $750 million buyback. Given that similar programs havefueled big-time outperformance from rivals, Noble's stock could be a top performer in the coming years.
In addition to the potential of these underperformers, there's still untapped upside from oil stocks that have risen sharply over the past year. That's because many of them are using their windfall from higher oil prices to buy back significant amounts of their still-cheap shares.Devon Energy, for example, couldpotentially retire 20% of its outstanding stock by the end of next year. Meanwhile, several others have multibillion-dollar buybacks underway that should push their shares even higher.
On the one hand, it seems as though oil might be topping out, especially as OPEC winds down its production reduction agreement. However, even if that happens, the current crude price is well above the level most oil stocks need to fund their growth plans. Because of that, they should still have plenty of upside from here, especially those that missed the rally over the past year or have big-time buybacks underway.
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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.
[Random Sample of Social Media Buzz (last 60 days)]
La Bitcoineta: una camioneta que recorre Argentina enseñando sobre Bitcoin http://dlvr.it/QWH6mJ pic.twitter.com/3pkaiIKKLf || #TipusCanvi de #divises a les 01:00 del dia 19-07-2018
1 euro = 4,0177 roures
1 dòlar = 0,2135 roures
1 lliure = 0,2790 roures
1 yen = 0,0019 roures
1 franc suís = 0,2136 roures
1 bitcoin = 1.571,54 roures
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#crypto #airdrop #airdropfruit #airdropfruitchannel #freetoken #freecrypto #blockchain #cryptocurrency #bitcoin #btc #ethereum #eth #litecoin #ltc #tron #trx || 1 BTC = 29162.88004000 BRL em 09/06/2018 ás 18:00:19. #bitcoin #bitcoinbr #bitcoinexchangebr || markfidelman : Is Floyd Mayweather Getting Punched by the SEC Over Bitcoin? https://youtu.be/nqR6x8ypb80 #bitcoin #influencermarketing (via Twitter https://twitter.com/markfidelman/status/1003307366962679809 …)pic.twitter.com/ZNxQfHMG8u || 24H
2018/07/19 15:00 (2018/07/18 15:00)
LONG : 33156.16 BTC (-861.53 BTC)
SHORT : 21616.81 BTC (-424.34 BTC)
LS比 : 60% vs 39% (60% vs 39%) || #ORV #Orvium #science #peerreview #openscience #publishing #authors #research #Crypto #Blockchain #ether #ethereum #bitcoin #cryptocurrency #ICO #ORV #tokensalehttps://twitter.com/orvium/status/1002943053458485248 … || USD: 110.380
EUR: 127.680
GBP: 144.454
AUD: 81.118
NZD: 74.551
CNY: 16.647
CHF: 110.524
BTC: 675,241
ETH: 48,140
Fri Jun 29 01:00 JST || Coinbase Co-Founder Fred Ehrsam Teams up with Sequoia Partner for New Crypto Fund - http://bitcoin-wall.com - Generate Bitcoin. Take your free Bitcoin
|
Trend: down || Prices: 7951.58, 8165.01, 8192.15, 8218.46, 8180.48, 7780.44, 7624.91, 7567.15, 7434.39, 7032.85
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2015-06-24]
BTC Price: 240.51, BTC RSI: 53.11
Gold Price: 1172.60, Gold RSI: 42.83
Oil Price: 60.27, Oil RSI: 53.33
[Random Sample of News (last 60 days)]
Humanoid Robots Closer Than You Think: Robots working alongside humans and even becoming their companions may sound like something out of a science fiction movie, but Japan'sSoftBank Corp (USA)(OTC:SFTBF) is planning to make such robots a reality in the very near future.
The company has developed a robot called "Pepper" that it says will eventually become a staple in the modern world.
Pepper's Capabilities
The robot has been touted as the first to be capable of understanding human emotions. The device is able to understand facial expressions and body language in order to predict how a person is feeling, and it can express its own emotions as well.
SoftBank said Pepper will eventually be able to carry out simple tasks like household chores, but for now the robot's primary function will be communication. Pepper can provide companionship to the elderly and keep their memory sharp by asking questions.
The robot is also able to remind people to take their medication and report back to medical professionals with health data.
Related Link:The Future Of Robots
Alibaba On Board
On Thursday, SoftBankannouncedthat Chinese e-commerce firmAlibaba Group Holding Ltd(NYSE:BABA) is backing the robot by buying a 20 percent stake in the venture.
Alibaba is investing ¥14.5 billion in Pepper's development in hopes of catching the robotics wave before it comes in. Alibaba executive chairman Jack Ma said he sees robots becoming as popular as cars and airplanes in the coming years.
Price Problem
Robots like Pepper are unlikely to become the norm in average households anytime soon, as they carry an expensive price tag. Pepper will cost ¥198,000, but won't be able to run without a ¥25,000 per month contract.
Image Credit: Public Domain
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || New York regulator issues final virtual currency rules: By Karen Freifeld and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - New York state issued on Wednesday extensive new rules for companies that operate in virtual currencies such as bitcoin but did little to accommodate complaints that overly tight regulation could hamper the nascent industry. The new rules, the first by a state, create comprehensive guidelines for regulating digital currency firms, according to the state's Department of Financial Services, which developed the regulations. It means that digital currency companies operating in New York state that hold customer funds and exchange virtual currencies for dollars or other currencies are required to apply for what is known as a state "BitLicense." "There is a basic bargain that when a financial company is entrusted with safeguarding customer funds and receives a licence from the state to do so, it accepts the need for heightened regulatory scrutiny to help ensure that a consumer's money does not just disappear into a black hole," Benjamin Lawsky, superintendent of the New York state regulator, said in a speech Wednesday at the BITS Emerging Payments Forum in Washington. The "BitLicense" rules include consumer protection, anti-money laundering and cybersecurity protections. The regulations come as digital currencies have drawn criticism for attracting drug dealers and other criminal elements, whilst failing to safeguarding consumer funds. Last year, bitcoin exchange Mt. Gox collapsed after it claimed to have lost $500 million worth of customer bitcoins after being hacked. Overall, industry participants said New York's new rules are still problematic but nonetheless an improvement over the original proposals laid out in July and revised in December. Digital currency companies are required to obtain prior approval for material changes to their products or business models, such as wallet firms offering exchange services. They would also need approval for new controlling investors. But they would not need approval from the state for every round of venture capital funding or standard software updates. "We have no interest in micro-managing minor app updates. We're not Apple," said Lawsky. Companies that want both a BitLicense and a money transmitter licence can work with the state regulator to have a "one-stop" application submission to cover the requirements for both. Jerry Brito, executive director of non-profit research group Coin Centre, called the final regulations "far from perfect," specifically citing what he said were vague state-level anti-money laundering obligations that go beyond federal regulations. He said the group was working with other states "to ensure they do not repeat the mistakes made here." The rules do not apply to software developers, individual users, customer loyalty programmes, gift cards, currency miners, or merchants accepting bitcoin as payment. Lawsky, meanwhile, has come under fire from the bitcoin community for issuing the rules shortly after announcing he was leaving the agency to set up a consulting company that will advise companies on financial matters that could possibly include digital currencies. The most prominent virtual currency now is bitcoin, often used as an investment or to pay for goods and services online. Bitcoin prices have been steady of late, at $225.77 on the BitStamp platform on Wednesday. The price rose as high as $1,123 in December 2013. "I think (the rules) are going to increase the costs to entry for businesses," said New York attorney Reuben Grinberg, who specialises in virtual currency. "But I think it's going to give consumers greater peace of mind and will end up promoting investment in this area much more so than it hurts." (Reporting by Gertrude Chavez-Dreyfuss and Karen Freifeld; Editing by Chizu Nomiyama and Steve Orlofsky) || Circle Attracts Goldman Sachs To The Bitcoin Space: Circle Internet Financial, a bitcoin-based startup, confirmed rumors that it was in the midst of a large fundraising effort this week after theNew York Timesreported that the company received a generous sum from financial giantGoldman Sachs(NYSE:GS).
The news brought a great deal of attention to the cryptocurrency and gave investors a reason to take a second look at Circle now that it had the backing of a major player in the finance space.
Goldman Sachs Takes An Interest
Goldman Sachs announced on Wednesday that it had partnered with China's IDG Capital Partners to lead a $50 million investment into Circle.
The funds are expected to be used by Circle executives to further the company's mission— to improve the bitcoin payments system. Circle plans to make peer to peer exchanges faster, easier and more cost effective using bitcoin.
Related Link:Bitcoin Security Conference Planned For May 2015
Bitcoin Businesses Present New Opportunities
Goldman Sachs' investment marks a growing interest in the technology that powers bitcoin.
While investors have been wary of the cryptocurrency itself due to its erratic swings in value, more and more firms have taken an interest in smaller companies that are creating platforms with which to use bitcoin.
The idea of sending money across boarders instantly and with a minimal cost has proven to be a unique opportunity for finance firms, who may soon need to compete with small startups like Circle as they gain popularity.
See more from Benzinga
• Is The Euro Moving Higher Or Lower? And What Should You Do About It?
• Meet The 3 Companies Goldman Sachs Says Are Leading The Bitcoin Revolution
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Edible Marijuana Products Get The 'Okay' In Canada: In 2009, a Canadian baker named Owen Smith was charged with trafficking and unlawful possession of marijuana for using cannabis oil to bake pot cookies.
Smith was later acquitted, but a larger question loomed as to whether or not dispensaries in Canada should allow medical marijuana to be delivered in ways other than smoking.
Edibles Allowed
Six years later, Canada's Supreme Court hasruledthat medical marijuana can come in all forms, including cannabis oil which can be baked into food products. The ruling reflects the changing culture of marijuana use, which has shifted from a focus on smoking to ingesting, which is considered "healthier."
Encouraging Growth In Edibles Market
The ruling in Canada is likely to spur on the blossoming edibles market, which has taken off in U.S. states like Colorado, where recreational marijuana use is legal. Now, medical marijuana patients suffering from conditions like epilepsy and HIV will have access to everything from pot-laced brownies to marijuana-infused tea.
Related Link:Marijuana's Tax Problem
Still Safety Concerns
While the Canadian Supreme Court's decision is intended to protect patients who use the drug to manage their symptoms, many worry that the growing edibles market is becoming increasingly dangerous.
Although strict regulations typically require marijuana-laced products to include clear warning labels and child-proof packaging, the number of accidental marijuana exposures in young children has been on the rise.
Not only are children being rushed to the emergency room after unknowingly consuming a THC-laced treat, but some say adults are also at risk. Because ingesting marijuana as a food product can sometimes delay the effects, people are more likely to overdose from having too many servings.
See more from Benzinga
• Google Takes To The Streets To Solve Cities' Problems
• Could Bitcoin Save Athens?
• Net Neutrality Rules Go Into Effect Today: Here's How It Could Affect You
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || After the SendGrid Hack, Beware of Phishing Scams: Email has become a critical tool for transactions — from the sending of Uber receipts to delivery of hotel coupons. Naturally, companies that send mission-critical consumer emails often turn to third-party firms like SendGrid to manage the delivery of millions of messages. Of course, as third parties that maintain trusted relationships with both consumers and corporations, such email providers are an obvious target for hackers. Imagine the damage a criminal could do if he could believably pose as a giant tech firm and send out emails to all consumers? Such emails could ask millions of users to reset their passwords, for example, or update their credit card information, or even send bitcoins. Such attacks are now under way. SendGrid, which has 180,000 customers and sends emails for giants like Uber and Spotify, said this week that a hacker who broke into company systems earlier this month did more damage than initially believed. On April 9, the firm confirmed to The New York Times that a Bitcoin-related client account had been compromised and used to send phishing emails to its customers. But on Monday, SendGrid said additional investigation revealed that one of its own employees' accounts had been compromised and used to access several SendGrid systems in February and March. "These systems contained usernames, email addresses, and . . . passwords for SendGrid customer and employee accounts," the firm said on its blog . "In addition, evidence suggests that the cyber criminal accessed servers that contained some of our customers' recipient email lists/addresses and customer contact information." SendGrid says it has not found evidence that customer lists were stolen, but it "cannot rule out the possibility." The firm is urging its clients to change passwords and enable two-factor authentication. It takes only a little creativity to imagine all the damage a hacker who managed to steal customer email lists and credentials could do. But a harrowing tale told by cloud provider Chunkhost.com on its website offers a cautionary tale . Co-owner Nate Daiger wrote last year that a hacker talked SendGrid into changing its point of contact email from [email protected] to [email protected], then used that change to retrieve a password reset email on two bitcoin-using clients. Fortunately, both clients used two-factor authentication, Daiger wrote. Story continues "Our customers' accounts were protected and the attackers were stymied. But it was really close," he wrote. Corporate clients who use third-party email services should be on notice: hackers are actively targeting such accounts. Meanwhile, here's an important notice to consumers: You can't believe everything you read, even an email that appears to come from a company you trust . Hackers can sent out very believable-looking phishing emails with requests for password changes or payment information. You should always be skeptical of such emails, but now, you have new reasons to be so. When feasible, avoid clicking on links in emails and instead visit websites directly by typing the site address into your web browser's address bar. If you have given up sensitive information to a phisher, it's important to take steps to control the damage. If it's an account number, report your account info as stolen so the bank or card issuer can close the account, or take similar steps to stop or undo any instances of fraud. Keep a close eye on your account statements, and check your credit reports and credit scores for signs that someone has opened an account in your name, or is using an existing one. You can get your credit reports for free every year from AnnualCreditReport.com, and you can get your credit scores for free from several sources, including Credit.com . More from Credit.com Identity Theft: What You Need to Know 3 Dumb Things You Can Do With Email How Can You Tell If Your Identity Has Been Stolen? || The 21st Century Cures Act Gets A Mixed Reception: Last week, the House Energy and Commerce Committee unanimously passed the 21st Century Cures Act, a new bill that will help fund medical research and relax regulations related to the discovery, development and delivery of new drugs. While some consider the new bill as a major step forward for the industry where the cost of developing new drugs has skyrocketed, others say the bill puts the public in danger as it doesn't require the meticulous testing that has been necessary in the past. Funding Change The bill offers incentives for scientists working on drugs that are important to the industry as a whole. The act dedicates government dollars to researchers working to develop precision medicine drugs and antibiotics that combat resistant strains. The legislation also supports the creation of a massive genomic database that will use large volumes of genetic data in order to help in the push toward developing precision drugs that target a specific gene. Related Link: Bio Applauds Approval Of 21st Century Cures Act Safety Questions Public safety groups have questioned the safety of such a bill, saying that allowing drugs to be approved by the Food and Drug Administration without full clinical testing creates a risk for patients. If passed, the bill would allow high-risk medical devices like pacemakers to gain approval without a full clinical study, something many say could create a dangerous precedent. Biotechs On Board? Biotech companies initially saw the bill as good for the industry as an initial draft extended market exclusivity rules for new drugs. However, those offers were dropped in the final version of the bill, leaving the biotech industry with little reason to back the bill. The Energy and Commerce Committee recently requested financial support for the bill from the Biotechnology Industry Organization, something the group is unlikely to offer without any benefits. Image Credit: Public Domain See more from Benzinga Despite Warnings About A Grexit, Investors Remain Calm Should The UK Regulate Bitcoin Wallets? Federal Government Reminds Workers That Marijuana Is Still Off Limits © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Why financial firms are investigating bitcoin tech: The technological innovation behind bitcoin(:BTC=)has the potential to empower the existing financial world, not just disrupt banks out of existence as some have foretold, according to a former Wall Street exec.
"The blockchain is the financial challenge of our time," said Blythe Masters, CEO of Digital Asset Holdings, on Tuesday at theExponential Finance Conferencehosted by CNBC and Singularity University. "It is going to change the way that our financial world operates."
Arguing that bitcoin's underlying technology has the opportunity to improve settlement latency and system security for firms, Masters said the market for financial blockchain applications will ultimately be "measured in the trillions."
Read MoreWhy is it called the 'blockchain?'
While promoting her own firm-which she said bridges the gap between the blockchain development world and financial services-Masters said that major financial firms "have all begun to dedicate a significant amount of time and effort" to learning about the technology. She previously served as an executive at JPMorgan Chase.
In the past six months, "everybody realized that bitcoin's more than a currency," saidBrian Kelly of Brian Kelly Capital. "Everybody had their 'aha' moment, and investors with many millions of dollars to spend are starting to see how it can be used."
CNBC reported six months agothat investors and technologists increasingly think the technology underpinning bitcoin-called "blockchain"-could ultimately be more revolutionary than the currency.
Now, more than a dozen big banks and tech firms have dived into the field, including Seagate(STX), Nasdaq(NDAQ), Overstock(OSTK), IBM(IBM), Samsung(: 593'A-KR), UBS(Swiss Exchange: UBSG-CH), Barclays(London Stock Exchange: BARC-GB), Banco Santander(Mercado Continuo: SAN-ES)and Intel(INTC)-to name a few.
Blockchain is what makes bitcoin tick: It serves as an unalterable record of all bitcoin transactions. To instill faith that no one can double-spend their currency (one of the chief concerns about a digital token as opposed to physical bills) this ledger needs to be completely secure from tampering. It achieves this feat-and has so far proven unhackable-by regularly syncing with servers across the globe.
It is that unalterable-and transparent-record-keeping function that makes blockchain the potential foundation of any number of other technologies.
Levels of commitment vary among firms. Seagate invested in Ripple Labs to become an "active participant" in the blockchain space,a firm executive told CoinDesk. Ina proof-of-concept paper, IBM and Samsung said blockchain technology could add an important level of security to devices in the emerging "Internet-of-Things" space, for example "smart" appliances.
On the finance side of the equation, Nasdaq launched an"enterprise-wide initiative"to leverage the blockchain. This is expected to begin later this year by using the technology to build out the equity management ledger on the Nasdaq Private Market platform, the company said.
Read MoreBitcoin's golden moment: BIT gets FINRA approval
Nasdaq CEO Robert Greifeldtold theFinancial Timeshe wants his company to be a leader in the field. But there will be competition, as several finance firms have all sought exposure to the blockchain.
The financial community was slow to come around to this technology-which promises to provide security for money and information transfers without a trusted middleman-but they are beginning to embrace it as a cost-saving tool, Kelly said.
The blockchain tech has even attracted the attention of Virgin's Richard Branson, who last week hostedthe Blockchain Summiton his private island in the British Virgin Islands. Jeff Garzik, one of five bitcoin core developers who have taken over maintenance of the technology from mysterious creator Satoshi Nakamoto, spoke with CNBC from that event.
"Even as far along as we are, it's still the early days," Garzik said. "It's still the pre-web, pre-1990 Internet."
Here are some of the big firms looking for a piece of the blockchain:
Garzik, who now works full-time atDunvegan Space Systems, predicted the myriad applications of the blockchain will eventually help form the infrastructure for a spate of new technologies, much like Transmission Control Protocol/Internet Protocol (TCP/IP)-the basic communication language of the Internet-does now.
"You don't have a conversation today about TCP/IP: This is the lowest layer of a money network," he said. "You're not going to say 'Let's adopt bitcoin,' you're going to say 'Let's use this money layer infrastructure.' You'll talk about the money web, or something of that nature, you won't talk about the blockchain itself."
Will bitcoin survive?
It's a common refrain among a portion of the business community that they love blockchain, but not bitcoin-implying the notoriously volatile currency is an unsound investment at the same time its technology could change the world. Bitcoin enthusiasts, however, emphasize that you cannot have one without the other.
Although that's technically untrue-a new blockchain could be based on a new currency-nearly every conception of the technology requires some sort of token to function. And bitcoin is unlikely to be overtaken: Its mass adoption and comparatively lengthy history mean it would be several orders of magnitude more secure than any upstart coin.
Read MoreForget currency, bitcoin tech could disrupt massively
Separate blockchains have already popped up for various applications, but most periodically tie back to the bitcoin data chain in order to increase their own security.
And for its part as a currency, bitcoin is maturing: Firms are working to popularize derivatives, and abitcoin-tied investment vehiclebegan trading on the over the counter OTCQX marketplace.
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || Trading the rally: 5 stocks to buy: Traders saw a lot of bright spots in the market's record-breaking rally on Thursday.CNBC "Fast Money" trader Guy Adami said Thursday that two stocks in particular are attractive plays.
"Palo Alto Networks(NYSE: PANW), all time high. Look at the move in FireEye(NASDAQ: FEYE). Proof point: there are pockets of stocks that continue to work here," Adami said.
Trader Steve Grasso also eyed both stocks. "It's going one way, it's going north. These are names you have to hold your nose and just buy them," he said.
Shares of Palto Alto are up about 50 percent year-to-date. FireEye stock is also up 70 percent from the beginning of the year.
Trader Tim Seymour focused his attention on the transports Thursday, examining Kansas City Southern(NYSE: KSU)and CSX(NYSE: CSX)in particular. He said that Wednesday's dovishFedstatement "means the transports can continue to run."
"A lot of these guys were going through pricing issues, but commodity prices are now starting to bottom. The valuations here are very interesting," he said.
Read MoreBillionaire sees opportunities in asset bubbles
Trader Brian Kelly said on Thursday that he bought shares of Microsoft(NASDAQ: MSFT)as a result of the market rally.
"It has a 3 percent dividend yield. It's a big cap tech, exposed to the world, and would do well under a weaker dollar; so, for me, that's the trade you do here," he said. "That's why people, I think. were piling into the Nasdaq(NASDAQ: .NDX)."
Disclosures:
Tim Seymour
Tim Seymour is long AAPL, T, BAC, C, DIS, F, GE, GM, GOOGL, INTC, JCP, SUNE, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO.
Brian Kelly
Brian Kelly is long BABA, BBRY, BTC=, EEM, Euro, MSFT, NOC, SPY, TAN, TSL, Yen; he is short Dollar and Yuan. Today he bought MSFT, NOC, and SPY.
Guy Adami
Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.
Steve Grasso
Steve Grasso is long AAPL, BAC, DD, DECK, EVGN, MJNA, PFE, T, TWTR, GDX firm is TWTR, AXP, AMD, AMZN, IBM, MCD his kids own EFG, EFA, EWJ, IJR, SPY.
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• Latest News Video
• Personal Finance || Which Tech Billionaires Donate the Most to Charity? (Infographic): When youre sitting on billions, even millions, you can easily afford to give generously to charity and should, and not just for the tax breaks. Whether fueled by a genuine desire to make a difference or out of sheer vanity -- or, yes, to greedily ease the tax blow -- todays tech titans are showering their favorite charities with cash. Bill Gates, easily the most famous philanthropist among the tech elite, is back on top again as the richest man in the world , clocking an estimated net worth of $79.7 billion . Hes also arguably the most generous soul on earth. Related: How the World's First Bitcoin Charity Is Harnessing the Cryptocurrency to Change Lives (VIDEO) The Microsoft co-founder, a Harvard dropout, founded the Bill & Melinda Gates Foundation with his wife in 2000. The aim of the nonprofit is to improve U.S. education and global health. To date, hes donated $29.5 billion to what is now the worlds largest private foundation. Gates also launched The Giving Pledge with his wife, Melinda, and fellow billionaire Warren Buffett. The initiative encourages the worlds wealthiest to give the majority of their fortunes to charity. One tech billionaire you might not have heard of, Intel co-founder Gordon Moore, the visionary behind Moores Law , is also one of the globes most prolific philanthropists. He and his wife, Betty, joined The Giving Pledge in 2012, eleven years after donating half of their wealth to their own namesake foundation . Related: Why Bill Gates Is Backing Impact Entrepreneurs in India For a deeper dive into Gatess and Moores exceptional charitable giving efforts -- along with those of four more of todays leading tech billionaires -- check out the fact-packed infographic below, care of Who Is Hosting This . Click to Enlarge Which Tech Billionaires Donate the Most to Charity? (Infographic) Image credit: Who Is Hosting This Related: 4 Ways Entrepreneurs Can Pay It Forward || Bitcoin goes mainstream with Goldman Sachs' backing: Bitcoin is getting a big boost…from Goldman Sachs (GS).
The financial juggernaut and China’s IDG Capital Partners are investing $50 million inCircle Internet Financial, a start-up that provides services to help consumers use the virtual currency. Goldman is the first major Wall Street bank to make such a big bet on bitcoin.
But as Yahoo Finance Technology Reporter Aaron Pressman points out, Goldman isn’t interested in speculating in bitcoins. It’s focusing on how bitcoin operates.
“The technology behind the scenes that enables bitcoin to work, that’s something that venture capitalists and a lot of banks have been looking at,” he says. “And maybe really will be what comes out of this.”
Get the Latest Market Data and News with the Yahoo Finance App
Yahoo Finance’s Aaron Task believes Goldman is just trying to stay one step ahead of the competition.
“Everybody around Wall Street is looking at bitcoin and trying to figure out whether they’re going to wait for the regulations or try to get ahead of the regulations and dip their toe in the water,” he explains. “And that’s what Goldman is doing.”
Task adds Goldman likely feels more and more of us will be using the virtual currency in the future…and wants to get on that bandwagon now.
There’s going to be a greater adoption of bitcoin use as a method of payment,” he says. “I think that’s its promise…and what Goldman is betting on here.”
Task believes Goldman sees bitcoin as being an attractive consumer electronic money alternative.
“Apple Pay (AAPL) doesn’t do anything for me as a consumer,” he argues. “But if I can transfer bitcoins to somebody else around the world and pay for goods and services, I think they want to be part of that process.”
And Yahoo Finance’s Jen Rogers says having Goldman associated with bitcoin is a pretty important milestone for the virtual currency.
“It does seem to add legitimacy because it’s such a big name,” she notes.
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[Random Sample of Social Media Buzz (last 60 days)]
LIVE: Profit = $868.29 (23.84 %). BUY B15.37 @ $236.62 (#Bitfinex). SELL @ $246.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || @DJAtticus, @VELO_btcndrgrnd just tipped you 4,745 bits ($1.00) in bitcoin! Get it here ➔ http://changetip.com/c/AiXE?m=11 || Current price: 157.02£ $BTCGBP $btc #bitcoin 2015-06-20 18:00:04 BST || Current price: 248.32$ $BTCUSD $btc #bitcoin 2015-06-19 00:20:02 EDT || current #bitcoin price (bitfinex) is $230.0, last changed Mon, 27 Apr 2015 21:43:00 GMT. queried at: 21:43:00 || Try caseya at https://BitBargain.co.uk/buy/request/6247?r=bittybot … only £166.00 per BTC. (BPI +4.57%) #buy #bitcoin #banktrans || In the last 10 mins, there were arb opps spanning 18 exchange pair(s), yielding profits ranging between $0.00 and $1,565.30 #bitcoin #btc || LIVE: Profit = $1,625.23 (2.08 %). BUY B328.94 @ $237.28 (#Bitfinex). SELL @ $238.00 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || I attacked Robot-lvl 3, and I've earned a total of 57,050 free satoshis! http://www.robotcoingame.com/?id=1Bm4rMXu1F5GYCuMx9y7NEBr6BQBMK66xT … #robotcoingame 00#Bitcoin #FreeBitcoin || buysellbitco.in #bitcoin price in INR, Buy : 16292.00 INR Sell : 15793.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin
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Trend: up || Prices: 242.80, 243.59, 250.99, 249.01, 257.06, 263.07, 258.62, 255.41, 256.34, 260.89
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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]
Not fully available.
[Random Sample of News (last 60 days)]
As Fed Contemplates Coronavirus-Prompted Easing, Bitcoin Traders Bet on Halving: U.S. stockscontinue to reelover coronavirus-related fears, and investors are increasingly betting the Federal Reserve will slash interest rates to stabilize the economy and markets.
But whether those investors turn tobitcoin(BTC) as a crisis hedge remains to be seen.
Such action by the Fed could, in theory, help bitcoin prices since lower rates would likely reduce the appeal of income-yielding assets such as U.S. Treasury bonds, according to analysts tracking the 11-year-old cryptocurrency. So far, the Fed has not said whether it would cut rates, with Chair Jerome Powell taking a “wait and watch” attitude.
Related:The View From China: Crypto, Crisis and Digital Currencies Feat. Matthew Graham
Yields on 10-year U.S. Treasury notes slid by 0.15 percentage point to a new record low of 1.14 percent, indicating heightened demand; bond prices move in the opposite direction of yields. Rates also fell on government bonds from the U.K. Those from Germany and Japan fell further into negative territory.
“As interest rates decline, you’re more likely to tip the seesaw toward assets that don’t have yield, such as collectible assets like artwork or gold or bitcoin,” said Greg Cipolaro, co-founder of Digital Asset Research, a New York-based cryptocurrency analysis firm.
Bitcoin prices are down 14 percent since Sunday, on track for their worst weekly performance since mid-November. The cryptocurrency slid 2.9 percent on Friday to $8,573, the lowest in a month.
Analysts andtraders in the nascent market have debatedwhether bitcoin should trade as a hedge against malaise in traditional markets, or if it’s more vulnerable to a sell-off alongside riskier assets like stocks and emerging-market currencies when the global economic and market outlooks darken. Some investors say bitcoin is mostly uncorrelated with other asset categories, sometimes trading in sync with stocks and other times in opposition.
Related:Bitcoin, Uncertainty and the Ultimate Narrative
Bitcoin was launched by its pseudonymous creator Satoshi Nakamoto in early 2009, in the wake of the last financial crisis, so the cryptocurrency is largely untested in amarket meltdown like the coronavirus-triggered panicselling now roiling stocks.
As a feature of the currency’s original design, the pace of new supplies of bitcoin issued to the decentralized network gets cut in half every four years. The next such event — known as the halving — is expected to take place in May.
That automatic supply tightening, encoded in the software, differentiates bitcoin sharply from human-led monetary-policy easing by central banks such as the U.S. Federal Reserve. The cryptocurrency’s price jumped 94 percent last year, roughly triple the gains in U.S. stocks; despite this week’s pullback, bitcoin is still up about 19 percent so far in 2020.
For now, the bitcoin market might be too immature for large investors with diversified asset portfolios to use as a hedge against a financial crisis. Indeed, bitcoin’s price drop in recent days — gold has slid, too — might signal most investors are still scrambling into cash when there’s a big market sell-off.
“We see a lot of these global actions having some impact on bitcoin, but there’s also things that are happening in the bitcoin network, and that could have a larger impact than the Fed cutting interest rates,” says Joe DiPasquale, CEO of the cryptocurrency-focused hedge fund BitBull Capital in San Francisco. “I’m still bullish for bitcoin for the year, and a major reason is the halving.”
The World Health Organization raised its risk assessment of the coronavirus to “very high” from “high,” with Italy now expected to approve emergency measures and quarantines and event cancellations reported in Germany and Switzerland,according to Bloomberg News. Acting White House Chief of Staff Mick Mulvaney has warned of possible school closings in the U.S.
The Standard & Poor’s 500 Index is down 12.5 percent over the past seven days, putting the gauge on track for its worst weekly performance since the 2008 crisis.
That’s why investors are betting the Federal Reserve will make a move to help stanch the red ink. According to the Chicago Mercantile Exchange, futures contracts used to bet on the Fed’s benchmark interest rate have shifted in the past two days to incorporate thenear-certainty of a cutby the time of the central bank’s next regular monetary-policy meeting, scheduled for March 18. Just a week ago, most traders were expecting no change.
There’s also now a greater than 50 percent chance the Fed will cut rates by at least a full percentage point by December, from the current range of between 1.5 percent and 1.75 percent.
U.S. stocks pared losses on Friday afterFed Chair Jerome Powell saidin a mid-day statement the central bank was “closely monitoring developments” related to the coronavirus “and their implications for the economic outlook.”
“We will use our tools and act as appropriate to support the economy,” Powell said.
While rate cuts might ultimately prompt bigger allocations to bitcoin, investors in crypto and traditional markets could be so gripped right now by a crisis mentality that they’re indiscriminately selling all assets perceived as risky. Since cryptocurrencies are relatively new and their prices can be extremely volatile, bitcoin is still generally perceived as a risky asset, Cipolaro said.
“Usually in the early stages of a crisis, you’re worried about deflation, not inflation,” he said.
• Bitcoin’s Option Market Sees Low Chance of Post-Halving Rally
• Bitcoin Rallies After Biggest Weekly Drop Since November || Square's (SQ) Q4 Earnings and Revenues Surpass Estimates: Square, Inc.SQ reported fourth-quarter 2019 adjusted earnings of 23 cents per share, which beat the Zacks Consensus Estimate by 15%. The bottom line was also higher than management’s guided range of 19-21 cents per share. Further, the figure improved 64.3% on a year-over-year basis but declined 8% sequentially.Net revenues of $1.31 billion surpassed the Zacks Consensus Estimate of $1.19 billion and came ahead of the guided range of $1.16-$1.18 billion. The top line also improved 41% from the year-ago quarter and 3.7% sequentially.We note that the company has stopped reporting adjusted revenues from fourth-quarter 2019 onwards.The top line was driven by Seller ecosystem that contributed $938 million to net revenues, up 26% year over year. Further, robust performance of Cash App, which generated $361 million of net revenues, up 147% year over year, was a major positive. Furthermore, strengthening momentum across Bitcoin and rapid adoption of Cash Card contributed to the results.Additionally, continued acceleration in gross payment volume (GPV) drove the results.Notably, the company completed the divestiture of Caviar to DoorDash at the end of October 2019. Caviar had been underperforming and consequently its sale remains a major positive.Excluding Caviar, net revenues would have exhibited growth of 46% on a year-over-year basis.Notably, shares of the company surged 6.9% in the pre-market trading following the better-than-expected current quarter and full-year outlook.We believe the company’s solid momentum across sellers and strong product portfolio is likely to continue aiding performance in the near term.
Square, Inc. Price, Consensus and EPS Surprise
Square, Inc. price-consensus-eps-surprise-chart | Square, Inc. Quote
Gross Payment Volume
GPV in the fourth quarter amounted to $28.64 billion beating the Zacks Consensus Estimate of $28.54 billion. Notably, the figure improved 25% year over year and 1.5% on a sequential basis.GPV growth was driven by the company’s continued momentum across the larger sellers.Square defines larger sellers as those that make more than $125,000 of annualized GPV and mid-market sellers as those with annualized revenues of more than $500,000.GPV from larger sellers contributed 55% to total GPV, up 33% year over year. Further, Square witnessed strong contributions from mid-market sellers, which accounted for 27% of total GPV, up 42% from the year-ago quarter.This can be attributed to Square’s robust product portfolio and comprehensive ecosystem that aided the company in attracting new sellers to its platform while retaining the existing ones.Additionally, robust Square Capital aided the company’s momentum across the seller ecosystem. This was a positive. Further, expanding international presence of Square Terminal remained a tailwind.Top-Line DetailsTransaction (63.4% of net revenues):The company generated transaction revenues of $832.2 million, up 25% year over year. Revenue growth within this category can be attributed to strengthening momentum across sellers.Subscription and services (21.4% of revenues):The company generated $281.4 million revenues from this category, surging 45% from the year-ago quarter. This improvement can be attributed to the strong performance by Cash App, which contributed $183 million to the category’s top line. Further, solid momentum across seller subscription and services products remained positive. Additionally, Square Capital, which facilitated 97,000 originations worth $ 671 million, up 42% from the year-ago quarter, contributed to the results.Hardware (1.7% of revenues):Square generated $22.3 million of revenues from this business, up 23% year over year. The category’s top line was primarily driven by robust Square Terminal and Square Reader for contactless and chip.Bitcoin (13.5% of revenues):The company generated $177.6 million revenues from this category, soaring 238.6% on a year-over-year basis. Square continued to benefit in the bitcoin space on the back of growing adoption of Cash App. Notably, without bitcoin revenues, Cash App revenues would have come in at $183 million.Operating DetailsPer management, gross profit as a percentage of net revenues came in 40.1%, contracting 60 basis points (bps) year over year. While Transaction, Subscription and services and Bitcoin generated profit, Hardware category reported loss during the reported quarter.Adjusted EBITDA as a percentage of net revenues was 9%, expanding 30 bps year over year.Operating expenses came in $509.7 million, surging 33% from prior-year quarter.Product development expenses were $173.3 million, up 22.2% year over year, primarily owing to growing engineering, data science and design personnel costs.General and administrative expenses were $118.2 million, up 23.8% from prior-year quarter. This was primarily owing to finance, legal and support personnel costs.Further, sales and marketing costs were $185.2 million, up 55.2% year over year, due to increase in Cash App peer-to-peer payment transfer and Cash Card issuances.Balance SheetAs of Dec 31, 2019, cash and cash equivalents balance was $1.05 billion, up from $612.04 million as of Sep 30, 2019.Short-term investments were $492.5 million in the reported quarter, down from $557.6 million in the previous quarter.Long-term debt was $938.8 million, increasing from $928.9 million in previous quarter.GuidanceFor first-quarter 2020, Square expects net revenues between $1.34 billion and $1.36 billion. The Zacks Consensus Estimate for revenues is pegged at $1.20 billion.Gros profit is anticipated in the range of $550-$560 million.Adjusted earnings are expected in the range of 16-18 cents per share. The Zacks Consensus Estimate for earnings is pegged at 14 cents per share.For 2020, Square expects total net revenues between $5.9 billion and $5.96 billion. The Zacks Consensus Estimate for net revenues is currently pegged at $5.61 billion.Gros profit is anticipated to lie between $2.44 billion and $2.475 billion.Adjusted earnings are projected in the range of 90-94 cents per share. The Zacks Consensus Estimate for earnings is currently pegged at 91 cents per share.We note that mid-points of both earnings and revenue guided ranges for first-quarter 2020 and full year 2020 are above the Zacks Consensus Estimate.Zacks Rank & Key PicksSquare currently has a Zacks Rank #3 (Hold).Some better-ranked stocks in the broader technology sector include Dropbox, Inc. DBX, ManTech International Corp. MANT and Alteryx, Inc. AYX. While Dropbox and ManTech sport a Zacks Rank #1 (Strong Buy), Alteryx carry a Zacks Rank #2 (Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.The long-term earnings growth rate for Dropbox, ManTech and Alteryx is currently projected to be 22.2%, 8% and 50.59, respectively.Today's Best Stocks from ZacksWould you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained an impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.See their latest picks 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 reportManTech International Corporation (MANT) : Free Stock Analysis ReportSquare, Inc. (SQ) : Free Stock Analysis ReportAlteryx, Inc. (AYX) : Free Stock Analysis ReportDropbox, Inc. (DBX) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Bitcoin is 'digital gold,' says Finder.com co-founder: Cryptocurrency isn’t going anywhere — in fact it’s set to take a leap forward in coming years, says tech entrepreneur and Finder.com Co-founder Fred Schebesta.
“I'm a big believer in Bitcoin,” he says. “I think it's like digital gold. I think it will last on and on and on.”
In a newly released interview, taped on March 2, Schebesta rejects pessimists who say cryptocurrency is a passing fad, noting that the price of Bitcoin (BTC-USD) has remained stable of late.
“Bitcoin's been called dead for 10 years now,” he says. “Seems to still be going. You know, I think the price is holding up pretty well throughout this as well.”
As of Thursday afternoon, the price of Bitcoin stood at $9,115, marking a 20.7% increase over the past three months, while the S&P 500 has fallen 3.5% over that period. Bitcoin surged at the outset of this yeardespite coronavirus fears.
“These geopolitical events including coronavirus and geopolitical tensions really improve the use case,” Tom Lee, Fundstrat Global Advisors managing partner,told Yahoo Finance’s YFi PMlast month.
Critics of cryptocurrency, like Berkshire Hathaway (BRK-A,BRK-B) CEO Warren Buffett,say it doesn’t hold any valueas a tool of exchange or source of production. Cryptocurrency will “come to a bad ending,” Buffetttold CNBCin 2018.
Along those lines, Yahoo Finance Editor-in-Chief Andy Serwer asked Schebesta: “I know that's a big interest of yours, but isn't crypto over, man?”
“Crypto is in the beginning,” says Schebesta, 38, who — in additional to his role at Finder.com — is the CEO of a blockchain company called HiveEx. “I actually think it needs another five years to cook.”
HiveEx, which Schebesta co-founded in 2018, helps high net-worth traders buy or sell large amounts of cryptocurrency, according to its website. Stock transfers, for instance, offer a significant business opportunity for blockchain, he said.
“Settlement of stocks right now is a small to large disaster in terms of its paper and all those kind of things,” he says. “So it's where blockchain does so well.”
Schebesta made the remarks during a conversation that aired in an episode of Yahoo Finance’s “Influencers with Andy Serwer,” a weekly interview series with leaders in business, politics, and entertainment.
In 2006, at age 26, Schebesta founded Finder.com, a comparison shopping website that now operates in 83 countries and employs 310 people full-time, Schebesta says. Last October, theAustralian Financial Review rankedSchebesta — who lives in Sydney — as the 22nd richest Australian under 40 years old, with a net worth of $193 million.
Schebesta compared the current state of cryptocurrency to the early days of the internet.
“It wasn't until Hotmail with email was the internet at all interesting to most people,” he says. “Or, you know, when really, data became fast enough on your phone.”
“It just takes time for those technologies,” he adds. “That’s the same with blockchain technologies...it’s just going to take some time to cook.”
Still, one cryptocurrency venture faced a setback this week. On Tuesday,The Information reportedthat Facebook (FB) would scale back plans for its cryptocurrency Libra, after the venture drew scrutiny from lawmakers and the public.
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• Read the latest financial and business news from Yahoo Finance || Stablecoins Are Evolving to Make Crypto Assets Irresistible to Wall Street Investors: 2020 U.S. presidential candidate Michael Bloomberg has published a financial reform plan that among other things advocates for a stronger financial system. Part of the proposed reform also recommends the creation of a regulatory sandbox for startups and "providing a clear regulatory framework for cryptocurrencies." Wall Street still regards the cryptocurrency industry with a cautious degree of skepticism, but stablecoins are increasingly providing a clearer path to the mass-market adoption of the new asset class. Stablecoins have risen in popularity to become a major source of liquidity in the cryptocurrency market. They provide an on-ramp to enter the crypto markets and an off-ramp to exit the cryptocurrency market. The rising popularity of stablecoins is a function of their inherent stability relative to other types of cryptocurrencies. This piece discusses how stablecoins are free from the historical volatility of cryptocurrencies and how they are evolving to offer different types of on-and off-ramp opportunities that will make cryptocurrencies more attractive on Wall Street. Wall Street is already testing the crypto waters Even though Wall Street is yet to be fully onboard the cryptocurrency train, several equities, ETFs, and traditional instruments provide some level of exposure to the industry. For instance, Nvidia Corporation (NASDAQ: NVDA ) and Advanced Micro Devices, Inc. (NASDAQ: AMD ) both have significant exposure to the crypto market because of the use of their graphics processors in crypto mining operations. In the year-to-date period, both Nvidia, and Advanced Micro Systems have delivered 23% as seen in the chart below. Other stocks such as Grayscale Bitcoin Investment Trust (GBTC) provides a more direct level of exposure to the crypto industry as a publicly-traded Bitcoin fund. Overstock.com, Inc. (NASDAQ: OSTK ) is one of the first traditional companies to adopt crypto payments and it currently keeps about 50% of its crypto payments, which ties its fate to the success or failure of the crypto market. In the year-to-date period, both Grayscale Bitcoin Trust and Overstock have delivered 56% and 25% gains respectively. Story continues When compared to the rest of the US market in the year-to-date period, Wall Street assets with exposure to the cryptocurrency market have delivered double-digit gains. In contrast, the S&P 500, NASDAQ Composite, and the Dow Jones Industrial Average have only managed to deliver single-digit gains in the same period. The rising popularity of stablecoins across different market segments Tether USDT is unarguably the biggest stablecoin in the market – it has been enjoying a first-mover advantage since its launch in 2015. It has more than 80% of the market share for stable coins and it has managed to maintain parity with the USD despite the recurrent panic episodes that accompany significant drops in the price of Bitcoin. In 2019, the supply of USDT was increased from 2 billion tokens to 4.108 billion tokens to account for growing adoption. More so, the token was moved from the Omni-layer to the Ethereum network to facilitate the faster and cheaper transfer of value. Interestingly, a Chainalysis report shows that “for Chinese exchange users, Tether has replaced the yuan as the go-to fiat currency” as data from exchanges showed that almost all fiat-crypto trades in Mainland China was between Yuan and USDT. Dollar Neutrino USDN is an algorithmically stable USD-pegged asset that is collateralized with the WAVES blockchain platform. Waves is rapidly driving the adoption of DeFi products and they are gradually becoming a leader in the industry. In addition to providing stability, USDN provides token holders with additional revenue streams through staking in much the same way that traditional dividend stocks provide returns. Launched barely one month ago on January 28, 2020, the token now has more than $3.2 million staked as it delivers a staking reward of about 8.9% per annum. Whereas other stablecoins merely provide entry and exit into the crypto market, USDN also allows holders to stake their tokens for additional returns. Hence, when traders exit their crypto holdings into stablecoins to avoid the inherent volatility of the crypto market, USDN provides an opportunity to stake their funds and earn staking rewards until they are comfortable enough to return to the active trading of cryptocurrencies. In 2018, Coinbase and Circle created the CENTRE Consortium which in turn created the USD Coin USDC , a stablecoin pegged to the USD. Interestingly, while the use case of the original USDT is limited to the crypto industry and USDN allows people to earn low-risk rewards on cryptocurrencies, the USDC is serving as a measure of value in the brick and mortar world. The USDC is gradually building a reputation as a stablecoin accepted by the government of a sovereign nation for the payment of taxes. Last year, Circle released a statement on how Bermuda became the first government to accept payments for taxes, fees and other government services using USD Coin (USDC). In less than two years, the market cap of USDC has grown to more than $430M and more than $700 million worth of the token are traded each day. Summary Cryptocurrencies are here to stay and stablecoins have an important role to play in driving the mass-market adoption of the new asset class. In 2019, JPMorgan revealed its plan to build a stablecoin, JPMCoin , and Facebook led a consortium of tech and payments companies to launch Libra. Going forward, the differentiation of stablecoins- USDT for facilitating crypto trades, USDN for facilitating low-risk crypto investments, and USDC for facilitating localized payments, among others, suggests that are different opportunities for Wall Street to leverage cryptocurrencies without being unnecessarily exposed to the volatility. Disclosure: None. || Gemini’s Nifty Gateway Bets on Celebs to Drive Interest in Crypto Collectibles: The “Bitcoin Billionaire” twins, Tyler and Cameron Winklevoss of the Gemini crypto exchange, now also have a regulated, fiat marketplace for non-fungible tokens (NFTs). Gemini first acquired Nifty Gateway in late 2019 with Tyler Winklevoss saying in a statement , “We believe that both real-world and digital collectibles will migrate onto blockchains in the form of nifties.” (Winklevoss declined to offer further comment.) Nifty Gateway founders, the twin brothers Duncan and Griffin Cock Foster, launched the Nifty marketplace on Tuesday, leveraging Gemini infrastructure on the backend for a dollar-exchange platform. People can buy NFTs with credit cards and cash out directly to their bank accounts when they sell. Related: Ethereum Community Grapples With Coronavirus as EthCC Cases Tick Upward To start, the collectibles exchange is working with mixed martial arts fighter Cris Cyborg and photographer Lyle Owerko, whose patrons include Justin Timberlake, Beyonce and Jay Z . “I’ve known Tyler and Cameron for a few years now. We met socially in New York, through friends,” Owerko said. “It’s fun to be an early adopter. … It’s like being a painter in the 1880s and seeing a camera for the first time.” He’ll offer a series of six images through Nifty’s marketplace for $200 to $2,500 each, depending on the image. Some images will have 25 copies available while others only have one NFT. “I did this of my own volition,” Owerko added when asked if the company paid him for lending his art to this format. He said this deal was “mutually beneficial.” Market headwinds Related: Thursday’s Market Madness Strained Ethereum’s Killer App: DeFi Since the platform expects to make revenue from transaction fees, Nifty Gateway would need to attract enough volume to support the five-man team within Gemini. It remains to be seen if there’s enough consumer demand for such digital collectibles. The Nifty Gateway team estimated NFTs were a $200 million market in 2018 , wrongly predicting the collectibles game CryptoKitties would remain a “project to watch” in 2019. CryptoKitties now attracts fewer than 200 weekly users, according to DappRadar , down from the 2017 peak of 14,914 daily active users. The NFT market is still seeing dismal growth in traditional tech terms. Nonfungible.com estimates the gaming startup Decentraland is one of the top three NFT market leaders yet facilitated roughly 50 transactions in the past week. Story continues By comparison, the Nifty team’s initial experiment with 10,000 “ Crypto Punk ” NTFs garnered roughly 3,569 transactions in two years, meaning fewer than half of them sold and few of them traded. On the other hand, OpenSea CEO Devin Finzer said his NFT marketplace now sees roughly $1.5 million in monthly trading volume, with a little under 10,000 active user accounts. With the Ethereum network buckling under congestion from coronavirus-induced volatility, Finzer said this may increase transaction fees the platforms pay for each swap. “If the Ethereum network remains super clogged, developers may just not build NFTs anymore,” he said. “Then more NFT projects may move to other main chains.” Indeed, CryptoKitties creator Dapper Labs is making progress on its forthcoming Flow blockchain, debuting a test environment for developers earlier this month. Given the instability among Ethereum’s fan base, the Cock Foster twins are looking to tap into celebrity fandoms, hoping to launch NFTs with more athletes and artists with devoted followings. “In the art world you don’t really see Picasso’s trading cap or trading volume,” Duncan Cock Foster said. “We’re also working on Nifty display devices. … People have to be able to hang their NFT up on their wall.” Related Stories Bitcoin Ekes Out Gains but Remains in Red Amid Broader Market Rebound MakerDAO Debts Grow as DeFi Leader Moves to Stabilize Protocol || Ethereum loses 4%, flirting with the $250 barrier: Ethereum (ETH) has just lost nearly 4% of its value, testing (and briefly dipping below) the $250 mark. Although the situation is changing rapidly, Ethereum currently sits at just north of $252, after falling from a 2020 peak of over $287 just two days ago. In total, more than $3 billion has been wiped off Ethereum's market capitalization since February 15, bringing its market cap down to around $27.7 billion. Nonetheless, Ethereum has gained slightly against Bitcoin in the last day, and now sits at a value of 0.0264 BTC/ETHup a modest 0.25%. Despite seeing its value shrink in recent days, the daily trade volume of Ethereum still appears to be on the uptick, and currently sits at around $27 billionup from $23.8 billion during its rally late last week. Although Ethereum is currently trending downwards, it isn't all bad news. Scaling back to longer-term timescales, Ethereum is still doing relatively well, and can be considered one of the best performers in recent months. As it stands, Ethereum is still up more than ten percent in the last week, and more than 47.5% in the last monthsignificantly higher than the average gain of 14.1% seen across the market during this time. The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice. || As This Crisis Worsens, Bitcoin Will Become a Safe Haven Again: Osho Jha is an investor, data scientist and tech company executive who enjoys finding and analyzing unique data sets for investing in both public and private markets.
The week of March 9 was a ride regardless of what market you trade and invest in. Markets spiking up, markets spiking down, longs taking drawdowns, shorts getting stopped out on intraday bounces. While investor sentiment across markets was negative, there was also a sense of confusion as “there was nowhere to hide” in terms of assets. Interestingly, I’ve yet to speak with anyone who made a “real killing” in that week’s trading. The ones who fared best are the ones who moved out of assets and into USD/hard currency and now have many options as to where to vest that capital.
On March 12,bitcoin(BTC), having already traced down from $9,200 to $7,700 and then to $7,200 in the prior few days, plunged from $7,200 to $3,800 before spiking up and settling in the $4,800 to $5,200. The move tested the resolve of bitcoin bulls who had expected the upcoming halving to continue to drive the price higher. Similarly, sentiment towards the crypto king and leading decentralized currency plunged, with many pointing to bitcoin’s failure to be a hedge in troubled times – something that was long assumed to be a given due to the “digital gold” nature of bitcoin. I, however, believe these investors are mistaken in their analysis and the safe-haven nature of bitcoin is continuing.
Related:Bitcoin: A Global Port in a Market Storm?
See also: Noelle Acheson:Why Bitcoin’s Safe-Haven Narrative Has Flown Out the Window
Earlier that week, I wrote ashort poston my thoughts around the BTC drawdown from $9,200 to $7,700. In it, I pointed out that gold prices were also taking a drawdown along with stocks and rates. My suspicion was there was some sort of liquidity crunch happening causing a cascading fire sale of assets. This more or less played out exactly as one would expect, with all markets tanking later in the week and the Federal Reserve stepping in with a liquidity injection for short-term markets. This liquidity injection included an expansion of the definition of collateral.
Having worked in both rates and equities, I’ve noticed equities traders tend to ignore moves in rates and it’s, unfortunately, a waste of a very powerful signal. Specifically, “significant” or “odd” moves in short-term markets signal shifts in the underlying liquidity needs for market participants. While repo markets have many intricacies and dynamics, here is a general outline of what they do and how one might use them.
For context, a repo (repurchase agreement) is a short-term loan – generally overnight – where one party sells securities to another and agrees to repurchase those securities at a date in the near future for a higher price. The securities serve as collateral, and the price difference between the initial sale and repurchase is the repo rate – i.e. the interest paid on the loan. A reverse repo is the opposite of this – i.e. one party buys securities and agrees to sell them back later.
Related:Bitcoin, Gold Spike as Fed Unveils Unlimited Coronavirus Stimulus Package
Repo markets serve two important functions for the broader market. The first is that financial institutions such as hedge funds and broker-dealers, who often own lots of securities and little cash, can borrow from money market funds or mutual funds that often have lots of cash.
This liquidity crunch and ensuing government intervention is laying the foundation for bitcoin’s adoption as a safe haven asset.
The hedge funds can use this cash to finance day-to-day operations and trades, and money market funds can earn interest on their cash with little risk. Mostly, the securities used as collateral are U.S. Treasurys.
The second function for repo markets is the Fed has a lever to conduct monetary policy. By buying or selling securities in the repo market, it is able to inject or withdraw money from the financial system. Since the global financial crisis, repo markets have become an even more important tool for the Fed. Sure enough, the 2008 crash was preceded by odd movements in repo markets, showing what a good indicator of the future repo can be.
With equities selling off in larger and larger moves and the markets becoming more volatile, the Fed injected liquidity into the short-term markets. While some headlines claim the Fed spent $1.5 trillion in a recent move to calm equities markets, those headlines are a bit sensationalist and are trying to equate last week’s actions to TARP (Troubled Asset Relief Program, which allowed the Fed to purchase toxic debt from bank balance sheets along with said banks’ stocks). And I say this as someone with very little trust in the Fed. This wasn’t a bailout but was a move to calm funding markets and the money is now part of the repo markets making it a short-term debt.
See also:Despite Bitcoin Price Dips, Crypto Is a Safe Haven in the Middle East
Let’s take a step back and think about what that means – short-term markets where parties exchange very liquid collateral had a funding crisis, implying that market participants on aggregate didn’t have cash or didn’t want collateral in return for cash, and needed the intervention of the Fed to continue functioning. There is no way to cut this as a positive. This would go a long way in explaining the wild movements and unprecedented yields hit across the entire yield curve. To make matters worse, this is not a new phenomenon. There was a funding crisis in September 2019 as well. It is clear that the repo markets are struggling without the Fed’s intervention.
Given the fire sale we saw recently, and the whipsaw in the Treasurys markets, I suspect some funds were caught off guard, especially by the move in oil futures, and were unable to get funding. This then led to a sale of assets to generate cash and then a cascade of sales across markets.
To clarify, I keep putting “and gold” in parentheses because the commentary applies to both markets given the nature of their fixed supply. I consider BTC to be a better version of gold as it is provably scarce, among other benefits. However, gold has enamored mankind since…well, the dawn of mankind. So while I think BTC is the better option, gold has a place in portfolios not quite ready for digital currencies.
Bitcoin had a bad week, retracing much of 2019’s gains but remaining positive on a Y/Y basis (though it’s up again more recently). Here are the positives: Bitcoin and traditional safe-haven assets all sold off, bitcoin is now trading very cheaply on a USD basis, and the fundamental analysis and value proposition remains unchanged. Because of bitcoin’s newer, more volatile nature, the moves in this market will naturally be more extreme.
People think bitcoin lost its safe-asset use case but this liquidity crunch and ensuing government intervention is laying the foundation for bitcoin’s adoption as a safe-haven asset.
It’s easy to talk about long-term theses and other “hopeium” in the face of this nascent market’s most extreme recent drawdown and ignore the fact that a ton of people lost a ton of money. So let’s consider the short-term thesis:
A “first-level” analysis would conclude BTC went down while stocks went down, and so there is no “store of value,” nor does it function as a “safe haven.” I cannot stress how useless this commentary is, and masquerading it as “analysis” is somewhat insulting. Anybody with mediocre programming skills can plot two lines and point to a correlation – what value has this analysis added? None.
That aside, consider gold in 2008. Gold prices fell sharply at the beginning of the financial crisis, only to rally after TALF (Term Asset-Backed Securities Loan Facilities), which was a program to increase credit availability and support economic activity by facilitating renewed issuance of consumer and small business asset-backed securities.
Unlike TARP, TALF money came from the Fed and not the U.S. Treasury and so the program did not require congressional approval but an act of Congress forced the Fed to reveal how funds were lent. Other relief measures were implemented and then further bolstered by quantitative easing (QE), where central banks purchase a predetermined number of government bonds to increase the money supply and inject money directly into the economy.
In the U.S. QE started in November 2008 and ended about six years and $4.5 trillion later. This serves to illustrate that safe-haven assets may sell off during a liquidity crunch but afterwards investors begin to see the need for assets with sound money properties that offer protection from currency devaluation.
See also:Cash Is the New Safe Haven as Crypto, Gold Continue to Tank
For cryptocurrency markets, the signs of a pullback were building. I personally watch Bitmex leveraged positions to get an indication of where the market is. Whenever leveraged positions build up to an extreme, the market tends to (possibly is forced to) move in the opposite direction and clear out the leveraged positions. There were over $1 billion in leveraged longs on Bitmex and from what I last read, roughly $700 million of those were wiped out during the week of the sell-off. It is a painful but necessary cleansing.
Because bitcoin is a mined coin with model-able production costs, it is important for fundamental investors to follow miner behavior closely. Leading up to the crash, miner inventory had built up. Miners either sell coins to market or build up reserves to sell when prices are more favorable. This is called the MRI (miner rolling inventory). Chainalysis put out this fascinating chart that shows miners generated inventory vs. inventory sent to exchanges. One could assume miner hoarding is a sign that there is an expectation of a price increase, but a liquidity crunch throws all that out the window, AND historical data suggests that returns are better when miners are not hoarding.
Losing money sucks, but when you invest or trade it’s something you should get used to. If you’re a stellar investor, you’re probably still losing money 40 percent of the time. So, the short term shows a buying opportunity as we saw a large capitulation last week. Alternative.me’s BTCFear and Greed Indeximplies a startling change from last month flipping from a score of 59 (Greed) to 8 (Fear) showing that fear is currently the driving market force, and it’s almost always better to buy when others are fearful.
But I would urge caution. Until we see BTC, gold and Treasurys dislocate from the S&P 500 i.e. break their recent correlation, I am cautiously deploying capital.
On a long horizon, things are going according to plan. The halving is still some blocks and months away. Miners who are already feeling the pain of this price reduction will continue to struggle to be profitable as block rewards are halved. On Sunday, March 15 the Fed slashed baseline interest rates to 0 percent and announced the purchase of $700 billion in bonds and securities to calm financial markets and create an economic stimulus. After the recent pullback in stocks, many of us had assumed the Fed would engage in a new form of QE. If history serves us correctly, this is likely the first of many asset purchase programs.
The money printer is coming, and when that starts, fixed supply assets such as BTC and gold will do well. The stock market has spoken, it is demanding an economic stimulus and has shown over the past year that, without government liquidity injections, it cannot sustain its current growth.
• Bearish ‘Death Cross’ Price Patterns Loom for Both Bitcoin and US Stocks
• The US Needs a Wartime Effort to Win the Coronavirus Battle || The Corona-Bitcoin Conundrum: Are Black Swan Events Forever Inevitable?: Cryptocurrencies are well known as a uniquely-volatile asset, as ominous terms like “flash crash” are baked into its very vernacular and the ethos. Since cryptocurrencies became a more-mainstream investment asset in 2017, several of these sudden, unexpected price drops – often referred to as black swans – have turned heads and shocked investors. For years, these black swans were anathema to the investment space where the stock market, which just ended its longest bull market in history, continued to climb higher.
Of course, few black swans were as evident and shocking asBitcoin’s overnight 50% decline on March 12th. In this case, the global shock from the Coronavirus sent the Dow Jones Industrial Average and other markets around the world into a tailspin. iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) jumped from $38 to $47 that same day. At its lowest point, Bitcoin was trading at $3,600, a significant decline from its trading level just a few weeks ago. While its price has partially rebounded since the drop – At the time of writing,the price of Bitcoin is near $5,100– the incident is causing many investors, enthusiasts, and casual observers to wonder if they can ever understand digital assets enough to predict their price movements.
Even prominent crypto analyst John Bollinger was shocked by Bitcoin’s stunning price drop. In atweet, he notes, “Bitcoin fall victim to the COVID-19 panic. I truly did not see that coming, I thought it might act as a safe haven asset.”
Ultimately, the numerous black swan events throughout crypto’s well-documented history make it clear that education alone isn’t the key to accurately predicting crypto. Instead, investors should work to understand digital assets and their potential to help make critical determinations about their efficacy and long-term value.
Predictions are Impossible?
Black swan events, like the one posed by COVID-19, will continue to disrupt both novel and established markets, and they are, by nature, unpredictable. However, other factors make crypto price predictions especially challenging.
As Robert Navalon, CBO ofNewsCrypto, a crypto education and investment platform, explains, “Crypto investors need to understand the market and the platforms where they place their money, but that doesn’t mean that they can have a crystal ball that identifies risks before they arise. Uncertainty shouldn’t stop investors from pursuing what they believe in.”
For starters, cryptocurrencies are still an emerging asset. In many ways, it’s difficult to remember a time when Bitcoin, blockchain, and decentralized assets didn’t dominate our attention. In reality, many of these platforms are just several years old, and their real-world implications are daily being sorted out among the millions of people interested in these assets.
“Crypto investors need to understand the market and the platforms where they place their money, mitigate the risk and foresee potential profitable solutions. Combination of all three aspects is necessary for success. This is what we are focusing on with Newscrypto, where we are trying to solve this everyday problem by providing the right information at the right time gathering all the market insights in one place, while also adding technical education into the mix” says Navalon.
As a result, the technology is, to some extent, unproven, and people are still mostly unfamiliar with the asset. When coupled with the media’s perpetual incredulity, it’s clear that investors are, at best, receiving mixed messages.
While black swan events may seem obvious in retrospect, even the best analysts couldn’t predict a global pandemic that’s upending the global economy.
Meaningful Alternatives
Of course, when it comes to making wise investment decisions, ignorance is the furthest thing from bliss. A crypto education can help investors get a lay of the land that equips them to pursue products and platforms that align with their interests, ideals, and investment strategy.
In addition, comprehensive educational support platforms can equip users to take advantage of these things by providing advanced insights on everything from portfolio generators to whale alerts.
At the same time, interested investors should take time to learn about available opportunities and to devise an investment strategy that rewards prudence and encourages steadfastness under duress. Predicting the next panic might now be possible, but that doesn’t mean that crypto investors can’t operate with intentionality and purpose.
Simply put, can you ever be educated enough to predict crypto. It’s doubtful. Even so, education is the right answer to a comprehensive crypto investment approach, just not the kind that advocates for a self-developed crystal ball to invest effectively.
As investors panic in response to the latest black swan, the intentional, educated investor can work with confidence in his or her strategy and with a broad plan to successfully navigate the burgeoning crypto ecosystem.
Disclosure: None. || Bitcoin Dips Below 8,654.8 Level, Down 2%: Investing.com - Bitcoin fell bellow the $8,654.8 level on Friday. Bitcoin was trading at 8,654.8 by 10:17 (15:17 GMT) on the Investing.com Index, down 2.33% on the day. It was the largest one-day percentage loss since February 26.
The move downwards pushed Bitcoin's market cap down to $158.1B, or 62.55% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $241.2B.
Bitcoin had traded in a range of $8,451.9 to $8,898.7 in the previous twenty-four hours.
Over the past seven days, Bitcoin has seen a drop in value, as it lost 10.56%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $42.9B or 27.13% of the total volume of all cryptocurrencies. It has traded in a range of $8,451.9355 to $9,981.0371 in the past 7 days.
At its current price, Bitcoin is still down 56.44% from its all-time high of $19,870.62 set on December 17, 2017.
Ethereum was last at $222.81 on the Investing.com Index, down 3.25% on the day.
XRP was trading at $0.23523 on the Investing.com Index, a loss of 2.18%.
Ethereum's market cap was last at $24.6B or 9.74% of the total cryptocurrency market cap, while XRP's market cap totaled $10.3B or 4.09% of the total cryptocurrency market value.
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CBDC Push Takes Ukraine Closer to Crypto Adoption || Bitcoin Dips Below 8,995.5 Level, Down 5%: Investing.com - Bitcoin fell bellow the $8,995.5 level on Wednesday. Bitcoin was trading at 8,995.5 by 10:15 (15:15 GMT) on the Investing.com Index, down 4.71% on the day. It was the largest one-day percentage loss since February 19.
The move downwards pushed Bitcoin's market cap down to $164.8B, or 63.09% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $241.2B.
Bitcoin had traded in a range of $8,992.5 to $9,368.1 in the previous twenty-four hours.
Over the past seven days, Bitcoin has seen a drop in value, as it lost 10.86%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $45.3B or 26.21% of the total volume of all cryptocurrencies. It has traded in a range of $8,992.4854 to $9,981.0371 in the past 7 days.
At its current price, Bitcoin is still down 54.73% from its all-time high of $19,870.62 set on December 17, 2017.
Ethereum was last at $228.94 on the Investing.com Index, down 10.90% on the day.
XRP was trading at $0.23395 on the Investing.com Index, a loss of 10.76%.
Ethereum's market cap was last at $25.4B or 9.73% of the total cryptocurrency market cap, while XRP's market cap totaled $10.3B or 3.96% of the total cryptocurrency market value.
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Cardano Dips Below 0.049974 Level, Down 16%
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[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 5922.04, 6429.84, 6438.64, 6606.78, 6793.62, 6733.39, 6867.53, 6791.13, 7271.78, 7176.41
|
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 2018-04-23]
BTC Price: 8930.88, BTC RSI: 63.27
Gold Price: 1322.50, Gold RSI: 43.63
Oil Price: 68.64, Oil RSI: 65.76
[Random Sample of News (last 60 days)]
Bankless Currency Exchange Goes Global With Yellow Card: The Benzinga Global Fintech Awards are a yearly showcase of the best and brightest in fintech. In preparation for its biggest installment yet in May 2018, we're profiling the companies competing for the BZ Awards. Our next feature is on Yellow Card . What does your company do? What unique problem does it solve? Chris Maurice, CEO: Yellow Card is a digital currency exchange for the cash market. Over 1 billion people in Africa and the Middle East do not have access to basic financial services like a bank account. Digital currencies, like Bitcoin and Ethereum, are a life-changing technology for these people; however, you'll need a bank account to buy and sell. Yellow Card removes banks completely from the process to make financial inclusion a reality and include everyone in the global economy. Who are your customers? Maurice: In Africa and the Middle East, our customers will be those trying to exchange their local fiat currency for digital currency, which they may utilize on an international market. Those who wish to secure their money against inflation, access global commerce, and send money to their friends and family around the world. In the United States, our customers will be those looking to break into the digital currency space through a simple, understandable medium like a gift card. Additionally, those who are trying to send money overseas to their friends and family in Africa and the Middle East will be able to save hundreds of dollars each year by switching to the Yellow Card Platform. How long have you been in business? Maurice: We've been working on putting everything together for about 2 years now. We'll be launching Q2 2018. Where are you located? Maurice: We're currently out of the Auburn University Tiger Cage Incubator & Accelerator. We'll be moving out to Atlanta this summer. Who is your company's leadership? What kind of experience do they have? Chris Maurice is the CEO and co-founder of Yellow Card Financial. Chris has always pursued his love for entrepreneurship. In high school, Chris began offering freelance writing and SEO services, working his way up to become the top-rated sports writer and targeted keyword analyst on Fiverr.com which continued throughout his time at Auburn University. Whether it is spending his summers volunteering at a camp for people with special needs or his time as an Eagle Scout, Chris has always been passionate about helping others. He understands the global impact that cryptocurrency will have, and he strives to create a world where financial freedom is a reality for everyone. Story continues Justin Poiroux, CTO: Justin Poiroux is a tech enthusiast with a passion for Computers and Computer Software. He began programming at the age of 10 in hopes of designing video games, and has since then had two NSF grants, an Internship at the Air Force Research Lab, a job as a Network Specialist, and has developed zero video games. He picked up a new passion for Bitcoin and Cryptocurrency around five years ago and has not been able to stop since. Who are your investors, if any? Mr. Bob Browning is a seasoned leader with a proven track record and over 30 years of experience in a broad range of executive roles within multiple industries, both domestic and international, including six years as CEO of Alinta Limited. Mr.Browning was CEO of Austal Limited from July 2007 through November 2010 and Director of Austal Limited from September 2003 to November 2010. Mr. Browning held the role of Managing Director of Emerchants Ltd for 18 months and is currently a non-executive director of Emerchants and Chairman of Bid Energy Ltd. Maurice: Bob has been an amazing friend and mentor over the past year and a half. He was one of the first people to believe in us when we were two kids and a PowerPoint. We wouldn't be here today without him. Is there anything else Benzinga should know about your company? Maurice: We're young, we don't sleep, and we're ready to make a big splash in the market. To check out companies like Yellow Card for yourself, grab a ticket to the Benzinga Global Fintech Awards May 15-16 in New York. See more from Benzinga HomeZada Aims To Tailor Your Home Improvement Budget For More Power How Omega Grid Is Making Energy Efficiency More Efficient CressCap Looks To Deliver Institutional-Grade Investment Research To Every Investor © 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Better Buy: Enbridge Inc vs. Buckeye Partners, L.P.: The midstream oil and natural gas industry has fallen deeply out of favor, with the Alerian MLP ETF down 50% from its 2014 highs. So it shouldn't be much of a surprise to find that the stocks of midstream players Buckeye Partners, L.P. (NYSE: BPL) and Enbridge, Inc. (NYSE: ENB) have also fallen steeply. Buckeye and Enbridge, however, both have impressively long records of rewarding investors with annual dividend increases. Since dividend yields go up as stock prices fall, is now a good time to buy one of these high-yield midstream companies? Some enticing dividend numbers Investors looking to the midstream sector are often in search of income. That makes sense given the industry's penchant for using fee-based assets to pay out a large amount of their income as dividends and distributions, in the case of limited partnerships. And neither Buckeye nor Enbridge has let income investors down -- both have increased their disbursements annually for 22 consecutive years. A man turning valves on a natural gas pipeline Image source: Getty Images Their yields, meanwhile, are extremely enticing today. Enbridge's dividend yield is up to 6.8%, more than three times what you would get from an S&P 500 index fund. It's also the highest it's been in over 20 years. Buckeye's distribution yield is over 12%, six times what you could get from the broader market. Its yield is higher than it has been in roughly 30 years. Part of the reason for the high yields is the negative investor sentiment around midstream companies today. But that's not the only issue here: Both Buckeye and Enbridge made large acquisitions in 2017. Larger Enbridge bought Spectra Energy for $28 billion . Relatively small Buckeye paid roughly $1.2 billion for a 50% interest in VTTI . Where do the dividends go from here The problem with these transactions is that they required Enbridge and Buckeye to issue new stock and units, respectively. That pushed the distribution coverage of each below one in 2017. Weak disbursement coverage is one of the main reasons why investors have been so negative on these midstream participants. Story continues Bar charts showing Buckeye's distribution coverage falling below one in the past while it grew adjusted EBITDA, continued to increase the disbursement, and lowered leverage levels Buckeye has been willing to let distribution coverage fall below one while it invests for the long term. Image source: Buckeye Partners, L.P. Buckeye's coverage dipped below that key number in the third quarter. Although it managed to hit a one for the entire year on a stronger coverage ratio in the fourth quarter, it also stopped increasing its distribution each quarter after the coverage dip in the third quarter. That's another warning sign for investors that the distribution could be at risk, though management has been very clear that it doesn't have any intention of cutting . And it's important to note that the partnership has gone through periods like this before, with long-term investments pushing near-term results lower before finally bearing fruit and pushing coverage back above one. If history is any guide, Buckeye's high yield could well be worth the effort of tracking its turnaround story, especially for more aggressive investors. That's particularly true since the fourth quarter showed that the VTTI deal is already starting to boost financial results. However, for more conservative investors Enbridge is probably the better bet. A listing of the $10 billion worth of projects Enbridge completed in 2017 Enbridge was busy building in 2017. Image source: Enbridge, Inc. Enbridge's coverage was below one for the entire year in 2017, but there's a big difference here. It not only increased its dividend in 2017, but continues to project robust dividend growth into the future. At this point it expects to grow the dividend by 10% a year through at least 2020. Supporting that are roughly $10 billion worth of projects brought into service in 2017, and around $18 billion in spending planned through 2020. What kind of investor are you? If you can handle a turnaround situation, then Buckeye's high yield should be pretty enticing . It will require a lot of monitoring, but that 12% yield will reward you for the effort. That said, the path forward for Enbridge is far more clear, driven by material spending plans and successful execution in 2017. The yield offered by Enbridge is lower, but for more conservative investors it will be easier to sleep at night if you pick Enbridge over Buckeye. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Enbridge. The Motley Fool has a disclosure policy . || New York is investigating cryptocurrency exchanges. What you need to know: • There are at least 190 exchanges to consider.
• Here's how to select the best one for you.
New York Attorney General Eric Schneiderman announced on Tuesday that he is investigating at least 13 cryptocurrency exchanges, including the popular platform Coinbase.
"Too often, consumers don't have the basic facts they need to assess the fairness, integrity, and security of these trading platforms," Schneiderman said in a statement.
Schneiderman said he hopes to make exchanges more accountable and transparent to their clients. Each company will be asked in a letter to supply information on its "operations, internal controls, and safeguards to protect customer assets."
The news serves as a reminder that investing in cryptocurrencies is risky not only because they're new and their value is volatile — even the places where you buy them can be suspect.
There are at least 190 exchanges in operation, with new ones popping up every day. Most of them don't operate under any rules, regulations or obligation to replace your digital money should it lose all value, get lost, stolen or hacked. One of the first exchanges to go mainstream – Mt. Gox – ended in bankruptcy .
How do exchanges even work? To get started, investors sign up with an online exchange using their bank account, credit card or digital currency.
Yet instead of relying on a third party like a broker to execute a transaction as you typically do with a stock, bond or ETF, cryptocurrencies trade on decentralized platforms with no middle man.
Despite the uncertain space, experts say there are some exchanges that bring more risk than others. Here's what you should consider about where you buy and sell your cryptocurrencies.
Always remember: These assets are incredibly volatile (In December, bitcoin was trading at more than $19,000. As of Wednesday, it was at $8,116). And so never invest more than you can afford to lose.
In addition, the IRS has labelled these currencies a property, meaning every transaction needs to be recorded and eventually taxed at your capital gains rate .
Find the right exchange for your location
Experts say if you're in the United States, you would be wise to pick an exchange based in the United States.
Look for an address for the company. If you can't find one, that should be a red flag.
If you don't know where your exchange is located, "when you get hacked it's going to be very difficult for you to even find the right jurisdiction in which you should sue the people who stole your money," said Emin Gün Sirer, an associate professor of computer science at Cornell University who writes about bitcoin.
Check the relevant policies
Not all cryptocurrency exchanges accept U.S. dollars. If you don't have any digital tokens yet, like most people , you'll need to find an exchange that takes cash.
Make sure the exchange will work with you. For example, one of the biggest exchanges, Bitfinex, doesn't accept United States payments , citing, among other reasons, a challenging regulatory landscape.
To that point, check your state's stance on exchanges. In 2015, New York designed rules that require cryptocurrency companies to meet certain regulatory standards.
Recently, the U.S. Securities and Exchange Commission has focused its attention on exchanges, requiring that certain ones register with the department. In the meantime, the agency warns investors not to assume that these exchanges meet SEC standards.
Look into the reputation
"Is it a fly-by-night operation operating out of a P.O. box or is it a genuine operation, of which we have many?" Gün Sirer said.
A simple Google search can turn up some telling results about potential problems. For example, when you search, "Bitfinex hack," you'll quickly see a Wikipedia page dedicated to the event. You should also try to speak to other users of an exchange and inquire about their experience.
Online forums have become a magnet for cryptocurrency exchange information as well.
"There are a lot exchanges that have been hacked," said Timothy Tam, co-founder and CEO of CoinFi, a cryptocurrency market intelligence platform. "Get yourself educated."
Confirm that there's enough security
Experts say cryptocurrency exchanges should follow what are called "know your customer" (KYC) and "anti-money laundering" (AML) procedures, which are designed to reduce the risk of illegal or fraudulent activity by certifying customers' identity.
"If it's really easy to open an account, and it's really easy to shield your cryptocurrencies from the IRS, then it's going to be just as difficult to get your money back when things go south," Gün Sirer said.
Make sure the exchange keeps the majority of its assets offline. At least 95 percent of the exchange's assets should be offline, said Tam. Coinbase, for example, says it keeps 98 percent of its customers' funds off the internet.
Fees and "volume"
Most exchanges make you weigh fees against protection, experts say.
The more secure exchanges charge a higher transaction rate. Coinbase charges a base rate of up to 4 percent for all transactions, for example, while other exchanges — with fewer guarantees, perhaps — can charge as low as 0.2 percent.
You also want to pick an exchange with high volume (you can check exchanges by volume on coinmarketcap.com ). A higher volume tends to lead to higher price accuracy, experts say, since the exchange is processing many transactions at once rather than a few an hour — over the course of which these volatile investments can lose or gain thousands of dollars.
No matter how much you've researched and verified an exchange, don't keep too much money on it for too long, said Matti Kon, CEO of financial software company InfoTech. Instead, transfer the digital coins offline and into a hardware wallet, safe from hackers.
"Do your thing and get off quick," Kon said.
More from Personal Finance:Bitcoin, once 'sketchy,' becomes more mainstreamSome cryptocurrency-backed debit cards dropped from Visa network, leaving users scramblingBitcoin is too risky to treat as a 'serious' investment, financial advisers say
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• This is how Americans are feeling about the new tax law || Is Ooma a Buy? Not Yet, Says 1 Analyst: 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...
I love my Ooma Telo.
A small black box that you can hook into your home router, the Ooma Telo turns any subscriber's internet service into a de facto "landline" telephone. Once connected, the subscriber pays only taxes and regulatory fees required for phone service -- $3 or $4 a month -- instead of the $30 to $40 that phone companies routinely charge for a phone landline.
The company behind the device,Ooma, Inc.(NYSE: OOMA), has been in business for some 15 years, according to a synopsis onS&P; Global Market Intelligence, and it's been publicly traded since mid-2015. Yet to date, Ooma's received little attention from investors. (Case in point: This is the first time we've actuallywritten about Ooma, and only four investors have rated the stock onMotley Fool CAPS.)
That could be starting to change, however, after Ooma reported estimate-beating earnings on Tuesday, and earned itself an upgrade and three price target hikes in response.
Image source: Getty Images.
Announcing Q4 and full-year 2017 results yesterday, Ooma said it lost $0.15 per share in the quarter on sales of $30.2 million. This was $0.01 better than last year's Q4 results, and ahead of analysts' consensus estimate. Sales increased 10% year over year, and "office and residential subscription and services revenue" in particular was up 22%.
For the year, sales likewise grew 10% to $114.5 million, and losses totaled $0.71 per diluted share -- a $0.03 improvement over 2016 results.
Not great results, admittedly -- no one likes to see their stocks report losing money. Still, the numbers appear to have impressed Wall Street. In response to Ooma's report, analysts at B.Riley/FBR commended Ooma for continuing to invest in "innovation and integration" by adding new video security services to their offerings, and raised their price target on the stock to $14 a share. Northland Capital went further, upping its price target on Ooma stock to $15, and saying the quarter was "strong" for Ooma.
Meanwhile atMerrill Lynch, analysts were more circumspect. Calling the Ooma's numbers "slightly better" than what we've seen before, Merrill upgraded Ooma stock and upped its price target by 40% to $14 a share. Merrill also noted accelerating growth in Ooma's Telo business and said Ooma's "Office" segment servicing business customers is also growing.
And yet, Merrill Lynch couldn't quite bring itself to recommendbuyingOoma, and upgraded the stock only to neutral. Why?
Well, as the analyst pointed out, Ooma's results were only "slightly" better in Q4 2017 than in the year-ago quarter. The company still lost money in Q4 -- and even more money for the year as a whole. Sales, while growing 10% all year long, aren't exhibiting the kinds of hypergrowth that might interest an investor willing to overlook a lack of profits today in hopes of seeing even greater profits once margins on rapidly rising revenue turn a corner.
At a market capitalization roughly two times trailing sales, Ooma may not be outrageously overpriced for a tech stock. Still, it would be nice to have at leastsomeprofits on which to hang a P/E valuation on, in order to get a better idea of whether the stock is priced attractively.
When might that happen? When could Ooma turn profitable? Not this year, certainly.
In yesterday's earnings report, management guided investors to expect a net loss per share between $0.19 and $0.21 in Q1 of this fiscal year, and a full-year loss between $0.73 and $0.85 -- roughly four times the expected Q1 loss, and thus showing no sign of losses continuing to shrink over time. (To the contrary -- Ooma appears to be promising it will lose more money this year, than it did last year.)
Indeed, according to S&P Global estimates, Ooma will lose more money both this yearandnext year than it lost last year. As buy theses go, this one seems kind of weak -- and Merrill Lynch is right to hold off on recommending Ooma stock until things look better.
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Rich Smithhas 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. || Halliburton's Management Still Sees Great Growth Opportunities in American Shale: 2017 wasa weird year for oil services companyHalliburton(NYSE: HAL). Even though drilling activity in North American shale roared back, the company's return to profitability took longer than expected because of some longer-term moves that management made.
However, with 2018 in full swing, the executive team at Halliburton thinks that the very moves that hurt the business last year will lead to a much, much better 2018. Here are a few of management's comments from the company's most recent earnings conference call that highlight how Halliburton expects 2018 to play out.
Image source: Getty Images
Back in late 2016 and early 2017, Halliburton's management made a somewhat audacious move. With oil prices and drilling activity on the rise, it elected to bring a lot of its idle equipment back into service. In doing so, it incurred higher-than-usual costs, which managementnoted would significantly dent margins. But these actions were predicated on the idea that drilling activity would continue to grow and that the company could capture market share early, then gain back margin from a larger base later on.
It appears that move was well played as the company posted great results this past quarter compared to its peers. So, as you might expect, CEO Jeff Miller took a bit of a victory lap in his opening remarks about how this bet paid out nicely:
We recognized the changing market before anyone else, moved more quickly to reactivate equipment, maintained historically high market share, raised prices, and captured key customers before others could, a pretty tough task to pull off, and we did it.
Drilling activity is still strong in North America thanks to oil prices above $60 and producers finding more ways to lower their per-barrel breakeven cost. This has been a boon for oil services companies as they deploy more equipment and put crews to work. For all this good news, though, such rapid growth is not without its downsides, like higher costs. According to Miller, though, that's a trade-off the company is still willing to make in today's market:
The frack calendar remained full due to the tightness in the overall market, but it came at a higher cost due to the increased idle time and mobilization required between jobs. I would rather serve our customers and capture revenue with temporarily lower margins than I would like as opposed to losing the revenue entirely.
One of the largest sources of cost inflation has been fracking sand. Producers and service companies alike have found that much higher amounts of sand in their fracking fluids improve well performance. As a result, sand use today is higher than in 2014, when there were more than double the number of rigs in the field. High sand costs have been a priority for management, and Miller believes Halliburton has some ways to mitigate those costs:
[W]e also saw cost inflation in sand and trucking. The price of sand escalated over the last few months of 2017, but I believe the increasing sand capacity, particularly from localized mines, combined with our supply chain strategy, will reduce the cost throughout 2018. Trucking is tight across North America and is particularly tight in areas like the Permian, where activity is strong and locations are remote.
All of the things mentioned above sound good, but when there is talk of things like capacity constraints, it suggests a company could be at its peak. According to Miller, though, that isn't the case. While the company may not be as generous with adding new capacity to the market, there is still some room to increase revenue with excess capacity.
We have a set criteria, it's return-driven, and we follow that criteria. That criteria was met in the fourth quarter, and we delivered a handful of spreads to the market. This additional equipment, along with our existing equipment, maintained market share, improved our margins, and generated industry-leading returns. But let's get some perspective.
HALdata byYCharts.
Over the past few months, we have finally started to see drilling activity across the world start to pick up. Certain pockets of the market have been better than others (the Middle East and the North Sea, for example). While that sounds like great news for Halliburton and others, Miller noted that investors should temper their expectations for now:
When I described green shoots [in the international market], I'm talking about activity, but that activity is spread thinly. The -- a lot of capital available in the marketplace. And because this activity is spread thinly, it doesn't create the type of tightness for a price inflection. And then the concessions given were significant, and in some ways, continuing into 2018.
The things that Miller is saying here make the international market sound a lot like the North American market 18 months ago. While there is interest in adding capacity, there isn't enough to sustain all players in the market. This leaves Halliburton with a choice. It can elect to pursue the same path it did in shale and shun margins for market share, or it can take a more measured approach and focus on generating some form of pricing power.
The difference between North America and the rest of the world is that Halliburton doesn't have as many embedded advantages internationally as it has stateside. As large as Halliburton is,Schlumbergerdwarfs it in the international market and has many more inherent advantages there. That's not to say that Halliburton can't pull it off, but it will be harder to do so.
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Tyler Crowehas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Bitcoin Teases Bull Reversal with Rise Above $7K: Bitcoin (BTC) found acceptance above the $7,000 mark over the weekend, boosting the odds of a double-bottom bullish reversal, the technical charts indicate.
The cryptocurrency trapped the bears on the wrong side of the market as it defended the psychological support of $6,500 on Friday, despite abear flag breakdown, and rose above $7,000 on Sunday.
As of writing, BTC is changing hands at $7,081 - up 0.84 percent for the session, and up 9.8 percent from last week's low of $6,513, according to CoinDesk'sBitcoin Price Index.
XVG, EOS, ONT: These 3 Cryptos Are Leading the Market Recovery
The positive turnaround is beingassociatedwith reports that Wall Street bigwigs or "real whales" are set to enter the crypto waters. Notably, George Soros, the billionaire investor who broke Bank of England in 1992, has given his Soros Fund Management macro investment manager Adam Fisher the go-ahead to trade cryptocurrencies, according toBloomberg.
Reports are also doing the rounds that Venrock, the venture capital arm of the financial empire began by John D.Rockefeller, is all set to bet on bitcoin.
While the speculation seems to have put a bid under bitcoin, the job is only half done for the bulls, the price chart analysis indicates.
Above $8K: Bitcoin Aims Higher After Price Breakout
The above chart (prices as per Bitfinex) show that the rally from $6,500 to $7,186 (session high) has neutralized the immediate bearish outlook.
However, BTC bulls need to clear the descending trendline and thedouble bottomneckline before claiming victory over the bears. The descending trendline hurdle is seen around $7,300 and the double bottom neckline resistance stands at $7,510 (April 3 high).
A close above $7,510 would confirm the double-bottom bullish reversal and allow a stronger rally to $8,500 (target as per the measured height method).
The 5-day moving average (MA) and the 10-day MA are now biased to the bulls. Also, the relative strength index (RSI) has cleared the falling trendline in a convincing manner, indicating BTC could rise to $7,300-$7,510.
And, last but not least, BTC has moved back above the key ascending trendline (drawn from the July low and September low) as seen in the linear-scaled daily chart below.
Bitcoin retakes rising trendline
• The immediate outlook is neutral.
• On the higher side, the key level to watch out for is $7,500. If passed, bitcoin could see a sustained rally to $8,500 (double-bottom breakout target).
• On the downside, the focus is on the April 1 low of $6,425. A close below that level over the next few days could put a slide to $6,000 back on the table.
U-turn signimage via Shutterstock
• Bitcoin Breakout: Price Jumps $1K in 60 Minutes
• $7.5K Ahead? Bitcoin Price Charts Hint at Bull Move || Canada’s TD Bank Wants US Patent for Blockchain Point-of-Sale System: The Canadian parent conglomeration of the9th largest bankin the United States,Toronto-Dominion Bank, has had a blockchain patent submitted to the US patent office since September of 2016. Thepatentcovers a “virtual draft system and method” and includes the words “block chain” in such combination exactly 10 times.
The patent application, like most patent applications, uses the broadest possible language when describing blockchain technology, such that it’s not immediately evident what we’re reading about when they say something like:
[…] a signal representing a request comprising a first transfer from a first digital container associated with a first client to a second digital container associated with a second client; compare a value of the first transfer to a total value in one or more accounts associated with the first client, wherein at least one of the one or more accounts associated with the first client has a value in a first currency; and generate a first draft from a first account to an account associated with the second client, wherein the first draft comprises a value in a second currency equivalent to the value of the first transfer.
The patent falls under several international classifications pertaining to payments and remittance, and even things likemissed tolls.
US Patent 20180089645 is essentially talking about one part of a new point-of-sale system TD Bank either has in the works or would like to own some intellectual property surrounding. It describes a modern computer (must have processor and storage attached to qualify) which can negotiate payments between currencies.
From the sounds, the user will have a form of payment which grants access to multiple accounts, and one of these accounts must have funds in the currency being dealt in. Another provision of the system described is that it will sometimes support — yep — blockchain tokens, such as Ether or Bitcoin.
This disclosure provides systems and methods for real-time drafting for transactions including a transfer of a digital asset tracked as a distributed electronic ledger, such as a block-chain ledger. A first party initiates a transaction including a transfer of a digital asset, such as a distributed ledger-based currency. The transaction is provided to a central authority for authorization and/or real-time drafting.
Such payment forms exist today, wherein essentially all of one’s accounts can be accessed, but they are very nascent. If there’s any group which will take more interest in this development than cryptocurrency enthusiasts, it will be Paypal and similar efforts as well as other banks who may have either competing products or existing intellectual property.
The patent appears to carefully avoid patenting an entire blockchain network by extolling a number of “embodiments” or manners in which this system can manifest itself. Patent trolling is a storied practice in the earliest days of the 21st century, in which property rights have found all new boundaries. Someone else can own data that appears on your device, and your personal information can belong to a corporation based on another continent.
However, for those who fear intellectual propertyand its associated frictionswith open source are on their way to the blockchain, and who’veraisedthe alarmsfor yearssince the rise of Coinbase, well, their fears are not entirely unjustified. Erich Spangenberg, who’s spent his career gobbling up patents and queuing up litigation surrounding them, has started a firm specifically with the intention of consolidating blockchain IP. Inthis blogon the subject, he admits:
While tempted to just trade, at some point in 2016, it occurred to me that blockchain could have a massively beneficial impact on the patent industry and patent asset class. I had some positively stupid initial ideas, but by 2017, the crazy ideas started to slow down and the better ones took over. I began assembling the team of programmers, data scientists, communications specialists and patent wonks we would need to implement and create a new business model that intelligently captures the power of blockchain in the patent space.
Although many computer scientistsmay disagree with software patentsor the patent system as a whole, Spangenberg is certainly correct that the patent office is already dealing with crypto cases. Why, just last week Ford was issued a patent forsome kind of fuel token. And then, of course, self-proclaimed Craig “Satoshi Nakamoto” Wright hasalso lined up a fair bit of business for the courts.
Featured image from Shutterstock.
The postCanada’s TD Bank Wants US Patent for Blockchain Point-of-Sale Systemappeared first onCCN. || Could Facebook Survive as a Paid Service?: Facebook(NASDAQ: FB)COO Sheryl Sandberg recently addressed the Cambridge Analytica scandal in an NBC News interview, admitting that the company was deceived by the data firm's "assurances" and should have come clean sooner. Sandberg also noted that Facebook relied on targeted ads to remain a free service, and that it "would be a paid product" if it let users opt out of its targeted ads.
Facebook stated that it had no plans to launch a paid service, and that Sandberg was only speaking in hypothetical terms. However, theWashington Postsubsequentlypolled its readersasking if they would pay to use Facebook. Forty-two percent of the respondents, at the time of this writing, stated that they would pay $1 to $7 per month to use an ad-free version of the social network. On the opposite side, 42% of respondents said that Facebook shouldpay themfor their personal data instead.
So, would turning Facebook into a paid service ever work?
COO Sheryl Sandberg (L) and CEO Mark Zuckerberg (R) during Facebook's first trading day in 2012. Source: Facebook.
Apple(NASDAQ: AAPL)CEO Tim Cook often criticizes "free" internet services like Facebook andAlphabet's(NASDAQ: GOOG)(NASDAQ: GOOGL)Googlefor miningusers' data for targeted ads. Back in 2014, Cook slammed such services by stating: "You're not the customer. You're the product."
Facebook and Google don't bear all the blame, however, as internet users are so accustomed to using free platforms that they're only willing to pay subscription fees for a handful of services. As a result, many websites, app developers, and internet companies use ad-supported business models.
Unless those habits change, companies like Facebook and Google will keep crafting targeted ads to make money. Facebook doesn't sell personally identifiable data to marketers. Instead, it lets advertisers target groups of users based on their gender, age, location, likes, followed pages, and other information. TheCambridge Analytica breach occurredbecause Facebook allowed third-party app developers to access users' personal profiles -- a loophole that the company eliminated in 2014.
Facebook is actually better positioned to launch a so-called freemium business model than Google. Facebook has 2.1 billion monthly active users (MAUs), many of whom are locked into its ecosystem by their own social connections and shared content.
COO Sheryl Sandberg at Facebook's Friends Day Event in 2016. Image source: Facebook.
There's no real alternative to Facebook. However,Microsoft's Bing is a viable alternative to Google's search engine, and there are a number of options for e-mail and cloud-based file storage systems that could take users out of Google's ecosystem. Therefore, launching paid tiers for Facebook doesn't seem as far-fetched as turning Google into a paid service.
Plenty of ad-supported internet companies use the freemium model. Alphabet's YouTube is a free service, butYouTube Redsubscribers get ad-free videos and streaming songs.PandoraandSpotifyboth offer free, ad-supported music streams and paid, ad-free options.
Each of these platforms has more free users than paid subscribers. Users are slowly -- but surely -- signing up for more ad-free services. Facebook could theoretically remove ads, increase options for customizing news feeds, and introduce exclusive videos on Facebook Watch for paying users. That type of paid bundle could even set the foundation for itslong-rumored pushinto streaming music.
Facebook collected $82 in advertising revenues from each North American member last year, which equals $6.83 per user per month. Across the world, it generated about $20 in ad revenues per member for the year, which equals $1.67 per user each month.
In theory, Facebook users could opt out of targeted ads by paying just a few dollars per month. It's important to note, however, that the company's ad revenues rose a whopping 49% last year, which means Facebook could require higher subscription fees to replace any loss of ad revenues per user that might occur.
A shift toward a freemium model could also throttle the number of available ads on Facebook, which would boost its overall ad prices. Such a change would likely require Facebook to alter its business model in order to successfully balance free and paid services.
It seems unlikely Facebook will launch a paid, ad-free version anytime soon. But it makes strategic sense if it wants to clarify how it makes money and win back the trust of mainstream users. For now, investors should note that internet users are more willing to pay for quality services -- but it's unclear if Facebook will take that leap.
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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Teresa Kersten is an employee of LinkedIn and is a member of The Motley Fool's board of directors. LinkedIn is owned by Microsoft.Leo Sunowns shares of Apple. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Apple, Facebook, and Pandora Media. 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. || Steve Wozniak says he was scammed out of $74,000 in Bitcoin: If you find yourself a victim of cryptocurrency theft, odds are that you’ll never see the money again. As it turns out, Apple co-founder Steve Wozniak recently learned this lesson the hard way when he was scammed out of a few bitcoins with an estimated value of $74,000. While speaking at Global Business Summit this week, Wozniak explained how he was tricked into selling his bitcoins to someone who bought them with a credit card. Sounds simple enough, but when the bitcoin transfer was complete, the credit card charge was promptly cancelled, effectively leaving Woz with nothing. Don't Miss : Today’s best deals: Ring Video Doorbell, foldable camera drone, Fire TV Stick, 400GB microSD, more “The blockchain identifies who has bitcoins,” Woz said in remarks picked up by the India Times , but “that doesn’t mean there can’t be fraud though. I had seven bitcoins stolen from me through fraud. Somebody bought them from me online through a credit card and they cancelled the credit card payment. It was that easy. And it was from a stolen credit card number so you can never get it back.” Incidentally, Woz added that he didn’t get into cryptocurrency because he viewed it as an investment vehicle, but rather because he was curious about the extent to which it could replace credit cards and cash while travelling. Don’t feel too bad for Woz, though. He may have lost $74,000, but he reportedly invested in Bitcoin when it was trading at the $700 level and liquidated all of his holdings earlier this year. In short, Woz still came out way ahead. All that said, Woz still remains a supporter of crypto, noting that the appeal is that it’s a currency that is “not manipulated by the governments.” “It is mathematical,” Woz added. ” It is pure, it can’t be altered.” But alas, it can still be stolen. BGR Top Deals: Today’s best deals: Ring Video Doorbell, foldable camera drone, Fire TV Stick, 400GB microSD, more Bose’s answer to the AirPods are $50 off right now on Amazon Story continues Trending Right Now: Is Google quietly laying the groundwork for Android’s demise? No, actually, the Galaxy S9 doesn’t have the exact same design as the Galaxy S8 Asus’ blatant iPhone X ripoff convinced me that Apple made the right choice with the notch See the original version of this article on BGR.com || TRON Recently Launched Its Public Blockchain Testing Network - testnet: On May 31st, the mainnet will be launched, TRON plans to shed its ERC20 identity and migrate from the Ethereum platform. It will be a serious challenge for ethereum. SINGAPORE / ACCESSWIRE / April 7, 2018 / On March 31st, Beijing time, TRON launched its public blockchain testing network ("testnet"). The TRON name began circulating among cryptocurrency investors in September 2017. Its token, TRX, quickly became one of the top 20 digital assets by market cap, and by January 2018 TRX had grown more than a hundredfold in value. TRON's testnet is now live, giving fans and skeptics alike a transparent view of TRON's solid progress. On May 31st, the mainnet will be launched, TRON plans to shed its ERC20 identity and migrate from the Ethereum platform. The TRON protocol is one of the world's largest blockchain-based application operating protocols. TRON provides basic-layer public blockchain featuring high-throughput, high-extension, and high-reliability support for the protocol's decentralized application operations. For the blockchain project, the mainnet is the foundation of all upper-layer architecture. The testnet is TRON's first technical debut and includes completed nodes, basic network functions, transactions, and customizable modules. Once mainnet goes live, TRON will no longer be an ERC20 token and become a true token within the TRON ecosystem. Ethereum launched in late July 2015 and opened the door to Blockchain 2.0. TRON has had its sights set on creating Blockchain 4.0 since stage one, and maybe one of the biggest challengers Ethereum will face in the near future. 1. Design Concept The initial goal of the Ethereum project was to create a smart contract platform that supported Turing-complete applications and could execute automatically according to the agreed logic of the smart contract. TRON is still committed to creating a decentralized smart contract platform, but with higher throughput, extension, and reliability capabilities than Ethereum. Story continues 2. Consensus System The blockchain system is a distributed system. Almost all first-generation blockchain projects (e.g. Bitcoin) use PoW consensus systems, but the system has many issues, but it has been improved. DPoS is a new generation of consensus mechanism that is cutting-edge and fits well into the big picture. Ethereum initially used Ethash, a PoW-based, variant consensus algorithm. Even though they made some improvements on the algorithm, It may trill require a long period of testing. TRON employs an optimized "Delegated Proof of Stake" ( DPoS) consensus system. The system uses a witness mechanism to achieve decentralization, where delegate nodes are selected by the blockchain network community through voting. TRON may outperform Ethereum by utilizing a new generation consensus system. 3. Smart Contracts Ethereum supports the development of smart contracts via advanced, Turing-complete language, and has already designed such a programming language called Solidity to write smart contracts. TRON will also have its own TVM with fast loading speeds, resource isolation, and scalability. The TRON protocol is defined completely by Google protobuf and will naturally support multi-language expansion. Smart contracts refer to contracts signed and operated via computer programs. TRON's smart contract is much more flexible and easy to use than Ethereum's. 4. Performance and Throughput Ethereum's consensus mechanism is inefficient and limited by CPU single-thread performance issues. Under TRON's excellent consensus system, a limited number of nodes with high computational performance will be selected by users to act as maintenance nodes. Based on official disclosure from TRON, the company's network can dynamically adjust bookkeeper sets based on block generation speeds and delays. On performance and throughput, TRON wins. 5. Economic Mechanism Ethereum uses a leasing model that controls the execution command cap for a certain transaction through Gas. There will be many fees involved with high volatility. TRON also uses a leasing model but improved on the economic mechanism by supporting free transfers. TRON wins again. 6. Security Ethereum is more vulnerable to attacks due to more diversified online transactions compared with digital currency projects. Ethereum's core design philosophy for minimizing attacks is still to prevent misconduct through economic incentives. 7. Scalability The biggest hindrance for Ethereum to take on more business is scalability. Compared with Ethereum, TRON has expanded its network almost limitlessly at the beginning of the project by dividing the architecture into different layers: storage, core, and application. The storage layer uses KhaosDB and LevelDB to achieve rapid iterations and upgrades for the public blockchain. Though Ethereum and TRON have not yet achieved the shard mechanism, it is much more feasible for TRON, who is already making preparations. 8. Applications Throughout the years, TRON has accumulated a large number of DApp resources to attract a great number of users. However, due to its limited performance, Ethereum's user experience is mediocre. TRON's focus isn't solely on basic blockchain technology, but also on the application experience of blockchain products. With the development of its ecosystem, TRON will then turn to support the basic layer of the public blockchain from all aspects. TRON has achieved impressive progress in just six months. This rapid development and progress should be attributed to TRON's respect for technology and the relentless efforts of TRON's team. TRON is one of the earliest teams that focused solely on blockchain development. Since the beginning of 2018, the frequency of TRON's code update has been at the forefront of all blockchain projects. At the time of the author's writing, the Github open source library for TRON's project showed that the code's last git push was 9 minutes ago: (Ranked #4 on comprehensive code ranking system.) When it first arrived on the scene, TRON was a vibrant, energetic, upstart of a company; a great reflection of its millennial founder, Justin Sun. Today, TRON is retaining its fearless energy but adds a much-needed groundedness with the debut of its technology. TRON has the ultimate goal of creating a "truly decentralized Internet". In just half a year, TRON's team has created a foundational public blockchain that incorporates cutting-edge technology. TRON has shown itself to be a serious contender. Contact Info: Name: Media Relations Organization: TRON For more information, please visit http://www.globalnewsonline.info/a-serious-challenger-for-ethereum/ SOURCE: TRON
[Random Sample of Social Media Buzz (last 60 days)]
SEC Quietly Puts Bitcoin ETF Proposals Back on the Table https://www.ccn.com/sec-quietly-puts-bitcoin-etf-proposals-back-on-the-table/ … via @cryptocoinsnews @WorldCryptoNet || Bitcoin Stock Invest $500 Return $29000 after 2 days,gold chain. http://ow.ly/UnvP30jhxF7 || Pick up where certification exams leave off. With this practical, http://bit.ly/2x1hSCz #Cybersecurity #Bitcoin pic.twitter.com/IGAwtiPlGP || #XYO #geolocation #Crypto #Blockchain #ether #ethereum #bitcoin #cryptocurrency #ICO #tokensale https://twitter.com/XYOracleNetwork/status/980229530630672385 … || #CoinPM News — 3rd April
- Google extends #cryptocurrency ban to in-browser mining extensions-
- @Bancor releases cryptocurrency wallet with live token conversion
- @MenloVentures leads $40 Million Series B #funding for @BitPay
And more... $BTC, $XVGhttps://soundcloud.com/coinpm/coinpm-news-3rd-april … || Trx... iou .2 btc #tron #trx || #Cryptos:
#BTC 8308.47$ | 6773.15€
#XRP 0.67$ | 0.54€
#ETH 542.77$ | 442.47€
#LTC 154.32$ | 125.80€
#DASH 380.01$ | 309.79€
#XEM 0.29$ | 0.24€
#IOTA 1.23$ | 1.00€
#EOS 4.68$ | 3.82€
#ETN 0.03$ | 0.03€
#TRX 0.03$ | 0.03€
#Cryptocurrency || #TRADERS #INVESTORS #CRYPTO IS RETURNING HUGE GAINS! UP TO 10,0000% IN A VERY SHORT TIME
DON'T MISS OUT!
Join our open trading telegram room http://t.me/wolfgangcoin
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$ETH $BTC $LTC $BCH $BNB $OMG $KMD $DRGN $NEO $ADA $POA $EVE $ANTX $DFS $ICX $ONT $IOST $ELA $ELF || Can't be visualized any better.. #Bitcoin #Visuals #HODL #Cryptohttps://twitter.com/Crypto_goat_/status/981708554250878976 … || #XYO #geolocation #Crypto #Blockchain #ether #ethereum #bitcoin https://xyo.network/ https://twitter.com/XYOracleNetwork/status/980944511923818499 …
|
Trend: no change || Prices: 9697.50, 8845.74, 9281.51, 8987.05, 9348.48, 9419.08, 9240.55, 9119.01, 9235.92, 9743.86
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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 2020-09-15]
BTC Price: 10796.95, BTC RSI: 49.37
Gold Price: 1956.30, Gold RSI: 54.10
Oil Price: 38.28, Oil RSI: 38.55
[Random Sample of News (last 60 days)]
Cryptocurrency Companies see Huge Revenue Growth Ahead Driven by Surge in Millennial and Institutional Interest: Point Roberts, Washington and Vancouver, British Columbia--(Newsfile Corp. - August 7, 2020) - Investorideas.com, a global investor news source covering cryptocurrency and blockchain issues a sector snapshot looking at recent news and developments, featuring Integrated Ventures Inc . (OTCQB: INTV). Read the full article on Cryptocurrency Companies on Investorideas.com https://www.investorideas.com/news/2020/crypto-corner/08070Revenue-Growth.asp Bitcoin and all major cryptocurrencies have seen not only a massive surge in prices recently but also a huge growth in both acceptance and interest in crypto as a replacement for and a hedge against traditional money and finance. The demand is driven by both millennials and institutional investors. Matt Luongo, CEO of Thesis recently reported , "Millennial finance is premised on the ability of new technologies to fundamentally and permanently reshape how the money system operates in both form and function. This isn't just theory. It's happening now, and millennials are leading the charge. The success of platforms like Robinhood , Acorns and Wealthfront demonstrates the potency of this movement and underscores millennials' thirst for options beyond the traditional banks and brokerage houses." "But these apps are only the tip of the iceberg. Their fundamental innovation is around user experience; they ultimately use the same financial infrastructure that legacy banks and wealth managers do. Millennial finance has more in store - and cryptocurrencies will be key. Rather than building a better train to run over the same old rails, crypto lets us build new, open, peer-to-peer rails." Forbes reported , "Institutional demand for bitcoin is soaring amid the coronavirus crisis, with multi-billion dollar bitcoin and crypto-asset manager Grayscale reporting its biggest-ever quarterly inflows of almost $1 billion." Previously involved in the crypto sector and now seeing significant opportunities ahead, Integrated Ventures Inc. (OTCQB: INTV) just reported the execution of a $1,000,000 Term Sheet with Eagle Equities, LLC and updated shareholders with recent corporate developments. Story continues From the news: The Company has agreed and executed Term Sheet with Eagle Equities, LLC for Private Placement, in the amount of $1,086,956, which will be used to expand cryptocurrency operations and to support future acquired operations. Use of proceeds: (1) purchases of 500 (*) assorted mining rigs: Antminer S17/S19, WhatsMiner and Innosilicon A10 and (2) deployment of the capital to support potential M&A transactions (**). From the news: The Company has decided to diversify its business operations, by expanding its focus from cryptocurrency mining operations to aggressive pursuit and implementation of M&A roll-up, a growth driven strategy seeking to achieve, above market, risk-adjusted returns, primarily by targeting: (1) companies in financial distress, (2) undergoing a turnaround or (3) undervalued companies that are looking for financial assistance, due to the current economic conditions. Integrated Ventures intends to acquire, merge-in and consolidate underperforming companies, mainly in the technology sector, which will allow INTV to combine all financial and management resources together, to cut down operational costs, and to increase the Company's revenues and market cap. From the news: To assist with execution of roll-up strategy, the Company plans to engage a business consulting group, with verifiable revenue generating M&A targets. These pre-vetted targets have a history of 2+ year operations with consistent revenues and EBITDA margins of 10%+. The Company intends to pursue such acquisitions, by offering below market multiples to the revenues with 10%-15% in cash and common stock. As of today, the Company has identified 2 such targets and if successful in closing these 2 deals, Integrated Ventures annual sales are expected to reach around $5.5 million. Integrated Ventures CEO, Steve Rubakh, commented, "The Company plans to diversify and expand its operations, by acquiring revenue generating assets that are available at below market pricing. We intend to assemble a team consisting of experienced and seasoned business professionals, ready to execute a value driven approach, thru a bottom-up research and due diligence process that seeks to capitalize on unique market opportunities. Continued: "We believe that this new business strategy offers an exciting path forward and will significantly increase Company's assets, market valuation and result in an increase in shareholder's value." With the funding, Integrated Ventures intends to focus on the following sectors: Data Center - Design Construction & Management, Cryptocurrency- Mining and Equipment Sales, DeFi Blockchain - Investments, Applications & Node Operations and E-Commerce & Information Technology Consulting Services. How big is the opportunity for companies in the sector? Crypto Corner reported , "Financial services firm Square, Inc reported in a letter to shareholders, that it generated $875 million of bitcoin revenue and $17 million of bitcoin gross profit during Q2 2020 on its Cash App. This represents a revenue increase of 600 percent year over year, something the letter ascribes to "an increase in bitcoin activities and growth in customer demand." As of June, the company boasted "more than 30 million monthly transacting active customers," on its Cash App." For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory Also visit the Crypto Corner podcast and commentary on what's driving cryptocurrency stocks and the crypto market. About Investorideas.com - News that Inspires Big Investing Ideas Investorideas.com is a recognized news source publishing third party news and press releases plus we create original financial content. Learn about investing in stocks and sector trends from Investorideas.com with our news alerts , articles , podcasts and videos talking about cannabis, crypto, technology including AI and IoT , mining ,sports biotech, water, renewable energy and more . Investorideas.com original branded content includes the daily Crypto Corner and Podcast, Play by Play sports and stock news column, Investor Ideas # Potcasts #Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change Podcast and the AI Eye Podcast and column covering developments in AI. Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Disclosure: this news release featuring INTV is a paid for news release/article on Investorideas. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp , http://www.investorideas.com/About/News/Clientspecifics.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp Follow us on Twitter https://twitter.com/Investorideas Follow us on Facebook https://www.facebook.com/Investorideas Follow us on YouTube https://www.youtube.com/c/Investorideas Download our Mobile App for iPhone and Android Join our Investor Club https://www.investorideas.com/membership/ Contact Investorideas.com 800 665 0411 To view the source version of this press release, please visit https://www.newsfilecorp.com/release/61259 || Market Wrap: Bitcoin Cracks $12.4K; DeFi Crosses $6B Locked: Bitcoin made a major gain Monday while investors have locked over $6 billion in crypto into various DeFi services.
• Bitcoin(BTC) trading around $12,332 as of 20:00 UTC (4 p.m. ET). Gaining 4.1% over the previous 24 hours.
• Bitcoin’s 24-hour range: $11,774-$12,485
• BTC slightly above its 10-day and 50-day moving averages, a bullish signal for market technicians.
The world’s largest cryptocurrency by market capitalization opened the week with higher-than-normal volume pushing bitcoin to as high as $12,485. For some market observers it was only a matter of time before it happened.
Read More:Bitcoin Surges Past $12,000 to New 2020 High
Related:DeFi-Yield-Hunting Token YFI Explodes to $11K From $32 in One Month
“Bitcoin has been trading in a $11,000-$12,000 range for two weeks or so,” said Darius Sit, managing partner of Singapore-based QCP Capital. “It has been consolidating, threatening to break past $12,000, so this is not too surprising,” he added.
Thus far in August, Coinbase’s daily average bitcoin volume has been $182 million, but on Monday volume was at $245 million as of press time. “Unlike last week, today’s attempt to break through the $12,000 level carried enough momentum to make a convincing break, sending BTC all the way to the $12,500 area,” said Denis Vinokourov, head of research for crypto brokerage BeQuant.
William Purdy, an options trader and founder of analysis firm PurdyAlerts, says the derivatives market is showing where traders think bitcoin’s price will be in the future as the cryptocurrency trends upward. “I think what is most interesting right now is how clear the upcoming expected price targets for bitcoin are via the option open interest,” he told CoinDesk, adding, “$12,000, $13,000, $14,100 and $16,000 are the spots with the greatest open interest, so the price is likely to settle on these as upcoming support/resistance.”
Read More:Bitcoin DeFi May Be Unstoppable: What Does It Look Like?
Related:Dust Attacks Make a Mess in Bitcoin Wallets, but There Could Be a Fix
Of note is how traders view price movements ofether(ETH) relative to bitcoin.
“Ether was largely a bystander Monday, mimicking the surge higher instead of being the driving force behind it,” BeQuant’s Vinokourov said. “This is suggesting a growing unease towards the current valuation.” Skyrocketing Ethereum transaction costs were among the reasons for this sentiment, Vinokourov noted.
Read More:DeFi Frenzy Drives Ethereum Transaction Fees to All-Time Highs
Ether, the second-largest cryptocurrency by market capitalization, was up Monday trading around $438 and climbing 1.9% in 24 hours as of 20:00 UTC (4:00 p.m. ET).
Read More:Huobi Launches Consortium of DeFi Providers and Platforms
The total value locked in decentralized finance, or DeFi, crossed the $6 billion threshold over the weekend, and it is currently up to $6.4 billion Monday. Over half of the value locked is in just three DeFi services: Maker ($1.51 billion), Aave ($1.15 billion) and Curve Finance ($1 billion).
Jean-Marc Bonnefous, managing partner for Tellurian Capital, which has been investing in crypto projects since 2014, says some of this DeFi frenzy seems to be proceeding unchecked, and warned that caution is needed.
“Some of these DeFi applications are going to market too quickly and without even testing the code. That is highly risky,” he said to CoinDesk. “There will be a flight to quality towards those protocols that have sound operational foundations and also real added business value.”
Read More:YAM’s Market Cap Falls From $60M to Zero in 35 Minutes
Digital assets on theCoinDesk 20are mostly green Monday. Notable winners as of 20:00 UTC (4:00 p.m. ET):
• litecoin(LTC) + 8.9%
• 0x(ZRX) + 8.3%
• xrp(XRP) 7.7%
Read More:Litecoin Gets Bullish Speculation, at Last, as Upgrade Approaches
Notable losers as of 20:00 UTC (4:00 p.m. ET):
• tezos(XTZ) – 6.2%
• eos(EOS) – 1.1%
• iota(IOTA) – 1%
Read More:BitMEX to Mandate ID Verification for All Traders
Equities:
• Asia’s Nikkei 225 ended the day in the red 0.82% asdata indicated Japan has experienced a record contraction in its economy in the past year.
• In Europe, the FTSE 100 closed in the green 0.61% asgains in mining stocks sent the index higher.
• The United States’ S&P 500 gained 0.40% asthe consumer discretionary and mining sectors made gains on Monday.
Read More:Pantera Tells SEC Its Crypto Fund Has Raised Nearly $165M
Commodities:
• Oil is up 1.4%. Price per barrel of West Texas Intermediate crude: $41.81.
• Gold was in the green 2.1% and at $1,985 as of press time.
Read More:Lending Protocol Aave Eyes Tokenized Mortgages With Launch of V2
Treasurys:
• U.S. Treasury bonds were mixed Monday. Yields, which move in the opposite direction as price, were down most on the 10-year in the red 3.3%.
Read More:Blockchain VC Firm SPiCE VC Taps Coinbase for Digital Asset Custody
• Market Wrap: Bitcoin Cracks $12.4K; DeFi Crosses $6B Locked
• Market Wrap: Bitcoin Cracks $12.4K; DeFi Crosses $6B Locked || OKCoin Exchange Awards Grant to One of Bitcoin Core’s Most Active Developers: Announced Thursday, exchange OKCoin is awarding its largest individual grant so far to Bitcoin Core maintainer Marco Falke, thesecond-most prolific contributorto Bitcoin Core in the software’s history.
OKCoin is awarding Falke an Independent Developer Grant, which is the “equivalent of a developer salary for the year,” though Falke requested that the exact amount not be disclosed for the sake of his financial privacy.
Read more:OKCoin, BitMEX Sponsor Bitcoin Core Developer Amiti Uttarwar
Related:BitMEX Owner Awards $50K Grant to Bitcoin Smart Contract Developer
With his grant, Falke will continue his work as maintainer of Bitcoin Core, the key software underpinning Bitcoin, which he’s been heads-down on since 2016. His work helps to ensure that changes to Bitcoin Core are merged, helps to organize developers that are spread out over the globe, and runs tests to ensure the code is working properly, among other tasks.
When asked about his personal accomplishments, Falke emphasized that Bitcoin Core is a team effort, with developers from around the world making it what it is. “I am proud to see what Bitcoin Core is today and how everyone’s contributions shaped Bitcoin Core for the future,” Falke told CoinDesk.
Falke is one of a handful of Bitcoin Core maintainers. Maintainers are sometimes described as theleaders of sortsof Bitcoin’s code. But, while maintainers are crucial to Bitcoin, the role isn’t as authoritative as has been painted.
“Some of my days are surprisingly unexciting maintenance work,” as Falke put it.
Related:Conflux Blockchain Announces Ecosystem Grants Program
Testing ensures code works as intended. He spends a lot of time keeping tests of the code in line, ensuring that any issues they expose will be fixed. “On top of that, I am running my own nightly test runs, code coverage runs, benchmarks and fuzzers,” Falke said.
In addition, he reviews proposed code changes and merges them into Bitcoin Core “when they have been sufficiently vetted.”
Read more:Hard Fork vs Soft Fork
Helping to speed up this maintenance process is what he believes is his “most useful” contribution to Bitcoin Core.
He created a little bot for GitHub, where Bitcoin Core’s code is stored, and where developers propose code changes, and discuss them. The bot,called DrahtBot, “does all the automatable things that I used to do,” Falke said.
Many Bitcoin Core developers are working on the code at the same time. It’s easy for little code clashes to arise. Once a change is approved and “merged” into the code base, it might impact other people’s code. DrahtBot notifies developers of these conflicts. “The bot will also list all future conflicts, assuming a pull request was merged, to aid maintainers planning ahead,” Falke added.
DrahtBot also “builds” the Bitcoin Core code into binaries that bitcoiners can run on their devices, among other tasks.
This bot frees up “a lot more” time for Falke to focus on other more difficult tasks, which can’t be automated and taken over by a robot.
One reason Falke is happy to be receiving this grant is that he is leaving Chaincode, a startup in New York City that funds developers and researchers dedicated to improving Bitcoin.
He decided to move back to his farm in Germany. “Given that I grew up on a remote farm, away from big cities, NYC was definitely a new, lasting and exciting experience. Nonetheless, I couldn’t see myself settle down in NYC long-term,” Falke said.
Then, coronavirus hit, making New York City an even less attractive place to live for Falke.
“Even before COVID, I saw many of my friends and colleagues leave NYC. Then with the COVID situation happening, and seeing politics and immigration policy becoming increasingly hostile towards immigrants and visa holders, it convinced me to move back to Germany,” he said.
Read more:Here’s How to Expand Who Contributes to Bitcoin Core
Chaincode only employs people who live in New York City. When Falke decided to depart, Chaincode’s head of special projects Adam Jonas helped him find new funding at OKCoin.
“I’d like to thank Adam Jonas from Chaincode for reaching out to various companies in the space and showing them the importance of supporting Bitcoin developers,” Falke said.
With a global health crisis that’s far from over and a feeble world economy, 2020 has been a disaster of a year. The sliver of a silver lining, though, is that 2020 has been the best ever in terms of funding developers tinkering to makebitcoinbetter after a long dearth of funding.
Read more:Square Crypto, Human Rights Foundation Ramp Up Bitcoin Development Grants
These sorts of grants have been growing in popularity. Many open source Bitcoin developers work on the code as a side project, essentially improving the digital currency for free, despite their contributions helping everyone in the industry, including the companies profiting from it. But now, more exchanges and other bitcoin organizations are beginning to support this work financially.
“We are inherently incentivized to invest in Bitcoin, which is fundamental to the growth of our industry,” said OKCoin CEO Hong Fang in a statement. “Supporting Marco’s work on strengthening the testing framework in addition to his general responsibilities as a maintainer is important to continuing quality development.”
OKCoin has awarded a number of grants this summer,includingto Bitcoin Core contributor Amiti Uttarwar and to open-source payment processor BTCPay.
• OKCoin Exchange Awards Grant to One of Bitcoin Core’s Most Active Developers
• OKCoin Exchange Awards Grant to One of Bitcoin Core’s Most Active Developers || Crypto Savings Accounts Are Coming to Fintech Firms That Use Wyre: Crypto payments startup Wyre is offering white-labeled savings accounts that dole out interest on crypto, the company announced Friday. Wyre’s client list includes startups including crypto custody firm Casa, wallet provider BRD and traditional enterprises such as banks. “Partners of Wyre are able to offer their users a crypto savings account by simply creating a new savings sub-wallet via the Wyre API,” the company wrote. Related: Epic Games Blasts Apple's 'Anti-Competitive' Payments Practices in Lawsuit The new product’s interest rates are meant to be more stable than interest rates at crypto lenders because Wyre will manage funds between MakerDAO, Compound and two centralized crypto lenders, said Jack Jia, Wyre’s vice president of business. Like most things in crypto, the interest rates at crypto lenders are vulnerable to market drops or borrower supply . With Wyre’s new savings product, called Wyre Savings API, the company is aiming “to offer stable yield that has the least counterparty risk,” Jia said. Read more: BRD Partners With Wyre to Build Bank Transfer Wallet Feature For the new product, Wyre is only working with crypto lenders that have lending licenses, SOC1 and SOC2 audits and work with licensed custodians. Related: Facebook Taps David Marcus to Lead Payments Initiatives “In the traditional markets we’re seeing a lot of instability and Treasury yields are down,” Jia said. “There are a lot more traditional financial institutions looking for yield.” In the initial stages of the product’s development, Jia’s team had envisioned releasing the product as a smart contract but chose an application programming interface (API) instead to make it more accessible to businesses unfamiliar with crypto, he added. As of Aug. 12, interest rates were 2.4% on bitcoin (BTC), 2.4% on wrapped bitcoin (WBTC), 3.3% on ether (ETH), 5.8% on USDC and 5.7% on dai . Wyre has plans to roll out more tokens in the future. Story continues Funds can be pulled out any time, and interest is accrued instantly and paid out weekly on the product, Jia said. Related Stories Crypto Savings Accounts Are Coming to Fintech Firms That Use Wyre Crypto Savings Accounts Are Coming to Fintech Firms That Use Wyre || Blockchain Bites: Bitcoin in Space; Prime Brokerage Race; Nodes You Can’t Trace: The OCC is willing to work with banks interested in custodying crypto, a Russian bank approved a token-backed loan and bitcoin has been sent… from space!
You’re readingBlockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’snewsletters here.
Next steps?The Office of the Comptroller of the Currency’s interpretative letter last month allows banks to provide services to crypto companies and custody cryptocurrencies directly – asea change that could have been months in the making, writes CoinDesk regulatory reporter Nikhilesh De. It doesn’t appear banks have jumped at the news. However, the letter is just the beginning of a longer process. The OCC will interact with banks on their next steps if they do decide to pursue crypto services. These letters help banks interested in crypto determine if it makes sense for them to get involved in the space, the OCC’s Jonathan Gould said.
Related:First Mover: Collapsing Bitcoin Futures Premium Offers Glimpse of New Digital Money Market
BTC in spaceSpaceChain’s International Space Station-hosted (ISS) hardware secured abitcointransferwhile floating in Earth’s orbit. Using a multi-signature transaction hardware, the firm’s Chief Technology Officer Jeff Garzik authorized a 0.0099BTC(about $92 at the time) transfer on June 26, the company disclosed Tuesday. Data can only reach the ISS via the craft’s encrypted ground station links. SpaceChain says this adds security and resilience to transaction authorizations.
Prime brokerageBequant isentering the prime brokerage space by building a crypto exchange, reports CoinDesk’s Nathan DiCamillo. “Prime brokers are facilitators for financing and trading for deep-pocketed institutional investors. While the digital asset space doesn’t have a lot of prime broker options currently, several crypto firms including Coinbase, BitGo and Genesis Trading have announced in recent months their intent to build prime brokerage wings,” he reports.
Token loanExpobank, a former Barclays subsidiary in Russia, has issueda loan using tokens as collateral. Terms were not disclosed, but the loan was made to tax consultant Mikhail Uspensky, who bought WAVES in 2018 for a planned initial coin offering (ICO). The tokens are being held by a third-party notary. Expobank’s dabbling in token collateralized loans comes after Silvergate said it had issued a total of $22.5 million worth of loans collateralized by bitcoin in July. The California bank only started offering such loans to clients in January.
Private nodesDecentralized privacy startup HOPR has released its first “customized HOPR Hardware Node,” which the startup says removes any reliance on cloud servers predominantly controlled by Amazon and Alibaba. HOPR uses a token-incentivized mixnet solution, essentially doing the same for blockchain as Tor (the onion router) or a virtual private network (VPN) do on the internet. The mixnet node combines running an Ethereum node with next-level data privacy.
• Riot Blockchain is buying8,000 more bitcoin miners(Danny Nelson/CoinDesk)
• A U.S. Senate report found, among other things, thatbitcoin was a factor in Russia’s meddlingin the 2016 U.S. presidential election. (Danny Nelson/CoinDesk)
• First Mover:Money Legosturn “exuberant” as Chainlink stripped of “DeFi” (First Mover/CoinDesk)
• Investor revolt and legaldispute delay Filecoin plans(Dan Primack, Kia Kokalitcheva/Axios)
• Steem vs. Tron: The rebellion against a cryptocurrencyempire(Tim Copeland/Decrypt)
Related:First Mover: Money Legos Turn 'Exuberant' as Chainlink Stripped of 'DeFi'
What’s going on in the world of DeFi? The pace of development in this small corner of the crypto space can be difficult to follow. Since the end of May, total locked-in value exploded past $1 billion and now sits near $6.4 billion, according toDeFi Pulse.
A whole universe of meme-driven and meta-referential projects have launched, grabbed headlines and filled their coffers. Here’s a quick rundown on a few recent projects.
For instance, the governance token for yEarn.finance (YFI) has shot upover 32,000% in about a month, CoinDesk’s Paddy Baker reports. Investors have dropped $645 billion into the application.
yEarn founder Andre Cronje said the price rise likely came from a combination of scarcity – there are only 30,000 YFI tokens – and the fact traders were using YFI in some of the other DeFi protocols.
While yEarn has delivered an actual product – an algorithm that identifies and executes various DeFi trading strategies – with up to 95% ROIs, many projects are to be taken less seriously.
Spaghetti Money, less than a day old, hasalready attracted $200 millionin its protocol, which features a meme coin (PASTA), no public figurehead or governance model – and which has yet to be audited.
Gamblers on the decentralized betting site Prediqt think Spaghetti will attract a total of $500 million TVL within the first 36 hours.
Finally, Binance subsidiary WazirX, the Mumbai-based crypto exchange, announced it isdeveloping a DeFi productwith Matic Network, a blockchain scalability platform.
The project promises an automated money market, similar to the popular Ethereum-based Uniswap, to run on Matics’ “high speed” blockchain. The decision to opt for Matic was influenced by high gas fees on Ethereum, fees which are in part being driven northward by DeFi.
Uptrend upturned?Bitcoin’s uptrend since mid-March appears to be running out of steam. “Monday’s breakout of $12,000 was almost entirely short-squeeze driven, and the resultant failure just ahead of larger offers [sell orders] at $12,500 has solidified the price range of $12,000-$12,500 as a key resistance area for an extended period,” QCP Capital said. The cryptocurrency dropped below $12,000 Tuesday, and chart analysis shows signs of bullish exhaustion, according to CoinDesk markets reporter Omkar Godbole.
Dust settles“Dust” is the technical term given totrace amounts of bitcoin– usually no more than a few hundred satoshis – that are considered too small to send in a transaction because the transaction fee would exceed the amount sent. The dust settles in a wallet, potentially allowing for nefarious actors or blockchain researchers to deanonymize the address. Dave Jevans, the CEO of blockchain analytics company CipherTrace, said that “hackers may use dusting as a strategy for identifying individuals who can then be phished or extorted.” Researchers and developers are working on solutions, including raising “dust limits” or consolidating unspent UTXOs, each with their own drawbacks.
A new internetSteven McKie, a founding partner and managing director at Amentum Capital, is developing, investing in and calling for others to build the “new internet.” The decentralized web’s development is made all the more necessary considering the privacy leaks, censorship and control centralized internet services exert. “Although the solutions to censorship resistance, lack of privacy and trust are right around the corner, further experimentation anddevelopment of the DWeb meme is necessary before the final barriers to the New Internet are sprung open,” he writes.
Cheap moneyRace Capital’s Chris McCann joins the latest edition of The Breakdown for a conversation aboutfintech, low interest rates and how cheap capitalchanged the face of Silicon Valley.
• Blockchain Bites: Bitcoin in Space; Prime Brokerage Race; Nodes You Can’t Trace
• Blockchain Bites: Bitcoin in Space; Prime Brokerage Race; Nodes You Can’t Trace || Blockchain Bites: OCC’s Crypto Letter, Eth 2.0’s ‘Official’ Testnet and Dinwiddie’s Tokenized Airball: The OCC will allow banks to custody crypto, Visa has a digital currency playbook and a digital dollar is essential to America’s economic edge, said experts at a U.S. Senate hearing. You’re reading Blockchain Bites , the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here . Top shelf Digital Dollar Hegemony The U.S. Senate Banking, Housing and Urban Affairs Subcommittee on Economic Policy conducted a hearing on “Winning the Economic Competition” between China and the U.S. on Wednesday where crypto was cited as a possible tool to maintain U.S. economic supremacy. “This could be interpreted as crypto’s increasing acceptance as a mainstream idea,” CoinDesk’s Nikhilesh De says. Former CFTC Chair Christopher Giancarlo once again called for the U.S. conduct pilot programs using a tokenized dollar. “We have to assume that as the nature of finance changes, the nature of currencies change, we have to stay at the leading edge,” Walter Russell Mead, the James Clarke Chace Professor of Foreign Affairs and Humanities at Bard College and a member of the Hudson Institute, said. Related: First Mover: Crypto's $35T Moment Could Come From Analog-World Stock Listings ‘The Future of Money’ Visa outlined a digital currency playbook Wednesday, showing its commitment to digital currency’s place in “the future of money.” Already a crypto bridge for tens of millions of merchants, Visa cast its digital currency partnerships as critical to preserving what it said was six decades of innovation. “Extending this legacy into the decades ahead requires continuous innovation and collaboration with” the public and private sector, it said. Near the Net? Brooklyn Nets guard Spencer Dinwiddie’s plan to tokenize part of his $34 million NBA contract fell short of its $13.5 million target. Dinwiddie’s issuer SD26 LLC sold just nine of the 90 available tokenized contract shares, priced at $150,000, to eight total investors as of Wednesday, according to CoinDesk’s review of Form D regulatory filings and the security’s token’s issuance history on Etherscan. Project insiders have previously said the sale would last only until the end of July. It now appears to be closed out for good. Dinwiddie first proposed tokenizing his three-year contract in September 2019, which was initially met with fierce opposition from the NBA. Story continues Ant’s Assets Ant Group claims its clients are uploading an average of 100 million digital assets to its distributed ledger every day, making it the largest operating blockchain in China. The Alibaba-affiliate company made the claim in a release Thursday that announced Ant Blockchain was rebranding to AntChain. An Ant spokesperson later told CoinDesk these were mostly transaction records, as well as copyright and property ownership certificates. Ant Group said this week it was planning an IPO on the Shanghai and Hong Kong stock exchanges at a rumored $200 billion valuation. Compromised Accounts The attackers who compromised Twitter in a massive breach last week may have accessed direct messages from up to 36 accounts, including CoinDesk’s, according to an announcement late Wednesday. Twitter said it has completed its review of the 130 accounts targeted by the hack, which garnered $120,000 through a crypto giveaway scam. The attackers were not able to see previous passwords, but were able to access email addresses, phone numbers and possible “additional information,” the update said. CoinDesk has yet to regain access to its primary account. Quick bites Apple’s co-founder Steve Wozniak sued YouTube over Bitcoin giveaway scams using his likeness BitGo is staking Tezzies Winklesvoss-owned Gemini will custody .crypto domains names Veritaseum accuses T-Mobile of gross negligence over $8.6 million SIM-swap hack The U.S. House passed two blockchain amendments in an annual defense budget bill The big idea Related: Don't Expect Banks to Jump on the OCC Crypto Custody News A change is in the air. In a letter yesterday, the Office of the Comptroller of the Currency (OCC) announced all nationally chartered banks in the U.S. will be able to provide custody services for cryptocurrencies. This marks a major turning point for the crypto industry, long reliant on specialist custodians, typically licensed through states, to offer services to large investors. But it also signals a changing attitude in the nature of money. “The OCC recognizes that, as the financial markets become increasingly technological, there will likely be increasing need for banks and other service providers to leverage new technology and innovative ways to provide traditional services on behalf of customers,” the letter said. Brian Brooks, a former Coinbase exec who joined the OCC as Acting Comptroller earlier this year, is just one of a number of crypto-friendly regulators in high positions. U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton is likely to become the next U.S. Attorney for the Southern District of New York, while ‘Crypto Mom’ Hester Peirce has been tapped for a second term as an SEC commissioner. It’s not out of the question for more crypto-forward legislation or administrative actions to follow this year. Still, the growing governmental acceptance of crypto comes with costs. Banks custodying digital assets will have to conform to local laws and follow “sound risk management practices,” the OCC letter states, placing these assets under watchful eyes. Whether this is antithetical to crypto’s original ethos, or may stifle breakneck development is an open question. But it’s worth asking what “being your own bank” means. Market intel ‘Risk On’ Bitcoin jumped above $9,500 on Wednesday, ending a four-week-long low-volatility squeeze. CoinDesk’s Omkar Godbole said market sentiment is poised for a further rise to the psychologically important $10,000 price level. In particular, a “risk-on” mood in traditional markets – seen by five-month highs in global stocks and near-term lows for the U.S. dollar, a safe haven in times of crisis – supports the case for a bullish crypto market. Bitcoin has recently developed a strong correlation with traditional assets. Tech pod Testing, Testing Ethereum 2.0 developers released the specifications for the “official” testnet on Wednesday, ahead of a presumed end-of-year launch. The testnet will begin August 4 and has been named “Medalla” after a Buenos Aires metro stop. In this case, “official” means the testnet is deployed by the Ethereum Foundation (EF), which will run by a decentralized group of programmers, developers and code auditors organized by fork coordinator Afri Schoedon. This is also a signpost the network’s code base is nearing launch readiness. Medalla joins multiple prior tests of Eth 2.0’s code bank on various client implementations, including Görli, Witti, Schlesi and most recently Altona. Crypto on the Backend Orchid VPN announced the launch of a Mac desktop app for private web browsing, which will allow users to purchase bandwidth using an Apple ID. The Ethereum-based service “marks one of the first times consumers can exchange USD for a service that runs entirely on crypto in the background,” Orchid CEO Steven “Seven” Waterhouse told CoinDesk via a spokesperson. Apple has traditionally taken an anti-crypto stance, including banning mining applications. “At minimum, Orchid’s arrangement with the Cupertino tech giant represents a slick workaround,” CoinDesk’s Zack Seward reports. What Went Wrong Blocknative, a company that studies blockchain mempools, issued a report that may explain the “zero-bid” attack on MakerDAO on March 12, also known as Black Thursday. The company found that an unusually high proportion of the mempool was clogged by transactions with very low gas prices, “hammering” the system with transactions never meant to go through. This opened the doors for hackers to submit “zero bids” in MakerDAO’s collateral auctions with stronger gas prices, essentially netting them collateralized ETH for $0. The attackers walked away with $8.3 million. Opinion Embrace the Unknowable Intelligence Jesus Rodriguez, CEO of IntoTheBlock, thinks crypto should embrace OpenAI’s new GPT-3 language generator model, not fear it. Noting that GPT-3, which is able to respond to human prompts, does not pose consequences for crypto, it could be employed in developing new quantitative trading and on-chain analysis strategies, as well as find a home in decentralized systems. “[T]he techniques behind GPT-3 represent the biggest advancement in deep learning in the last few years and, consequently, can become incredibly relevant to the analysis of crypto-assets,” he said. Who won #CryptoTwitter Related Stories Blockchain Bites: OCC’s Crypto Letter, Eth 2.0’s ‘Official’ Testnet and Dinwiddie’s Tokenized Airball Blockchain Bites: OCC’s Crypto Letter, Eth 2.0’s ‘Official’ Testnet and Dinwiddie’s Tokenized Airball || Bitcoin Crosses $11,400 Mark, Beats Major Indexes In July Gains: Bitcoin on Friday crossed the $11,460 mark, its highest July peak in eight years. The cryptocurrency gained about 23% in July. What To Know : Analysts said the spike could be an outcome from the directive of U.S. officials that allowed all nationally chartered banks to open and maintain crypto wallets for their customers. Theres definitely a more bullish sentiment since that announcement came out and as weve all seen, has resulted in an upward movement, Michael Rabkin, head of institutional sales at DV Chain, told Coin Desk . A positive news cycle on the crypto market is boosting the market, he said. According to various sources and DeFi Pulse, funds on Defi Platforms stands at over $4 billion . See Also: The Top 10 DeFi Projects To Watch In The Second Half Of 2020 Why It's Important : Rough second-quarter GDP results and surplus money printing by the Federal Reserve coupled with a rising debt scenario left investors frowning. In order to avoid the backlash of anticipated inflation, gold has become a popular investment in 2020, along with bitcoins. With stocks taking a beating on Friday, with global indexes down or flat, it's a crucial time for bitcoin. What's Next : Some analysts believe the latest peak could just be the start of a bull phase for bitcoin. Bitcoin has successfully beaten major equity indexes for July. Related Link: Is Cryptocurrency Here to Stay This Time? See more from Benzinga General Motors Teases GMC Hummer EV In Foray Into Electric Truck Race Coca-Cola Enters Hard Seltzer Market With Alcoholic Topo Chico © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / September 14, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD).
Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.comALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH
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.
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SOURCE:ALT 5 Sigma Inc.
View source version on accesswire.com:https://www.accesswire.com/606057/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || Intel Shakeup Sees Chief Engineer Depart After Next-Gen Chips Delayed: Intel Corporation(NASDAQ:INTC) Chief Engineering Officer Murthy Renduchintala is leaving the company, in what is a major shakeup of the chipmaker's technology team.
What Happened
The California-based company's Chief Executive Officer Bob SwanannouncedMonday that the company’s technology, systems architecture, and client group teams would be reorganized immediately in light of Renduchintala's departure and report directly to him.
The technology development team would be headed by Ann Kelleher, manufacturing and operations by Keyvan Esfarjani, design engineering on an interim basis by Josh Walden, architecture, software, and graphics by Raja Koduri and supply chain by Randhir Thakur.
Renduchintala will exit his role on August 3. This is the second high-profile departure from the company in recent days. In June, Jim Keller, senior vice president in technology, systems architecture and client group, left citing personal reasons.
Keller’s departure was deemedsignificantby Rosenblatt Securities analyst Hans Mosesmann, who stated that whatever the microprocessor engineer was enacting at Intel wasn't working.
Why It Matters
Intel last weekannounceda delay in the launch of its next-generation 7nm products of more than six months. The company suffered two years of delay in its current 10nm chips, which is raising questions on the company’s business model.
Rival chipmakersAdvanced Micro Devices, Inc(NASDAQ:AMD) andTaiwan Semiconductor Mfg. Co. Ltd.(NYSE:TSM) are deemed to be beneficiaries of the delay in Intel’s 7nm product.NVIDIA Corporation(NASDAQ:NVDA) also stands to benefit as it increases 7nm accelerators for data centers.
BofA Securities analyst Vivek Arya said the Santa Clara, California-headquartered company is headed for earnings upwards of the $3 mark by 2023 and a CAGR of 43% by the same period.
The delay in 7nm Intel chips is thought to a major reason whyApple Inc(NASDAQ:AAPL) is switching to its own silicon for its Mac range of computers, CNBC noted.
Price Action
Intel shares closed nearly 2% lower at $49.57 on Monday and further fell about 0.2% in the after-hours trading.
Photo by JiahuiH on Flickr
See more from Benzinga
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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The Pound Reacts to New Stimulus Plan that Aims to Jump-Start the Economy: The Organization for Economic Co-operation and Development (OECD) said that the UK’s economy is going to plunge by 11.5% throughout this year. Still, it could get worse if there were a second wave of COVID-19 infections. If this were to happen, the economy could compress further in the months to come leading to 2021.
Given the concerning projections, chancellor Rishi Sunak rolled out a new plan that is set to jump-start the economy by supporting jobs and businesses. The idea behind the fresh measures is to ensure that the “economic recovery is as strong and as swift as possible.”
The plan provides a clear path around protecting, supporting, and creating new jobs to boost the confidence of employers. But it fails to address how it will improve the day-to-day lives of the British people. In fact, there are no mentions regarding funding for public schools, transportation, and cultural amenities, such as museums, galleries, public parks, and others.
With lockdown measures easing in the UK, investors are growing hopeful about a further economic recovery. This sense of optimism was barely interrupted on Monday, July 13th, after the governor of the Bank of England Andrew Bailey said to be “very worried” about jobs across the nation. Following the banker’s speech, the Pound crashed by 1.47% to hit a low of $1.248 on July 14th, but investors’ confidence did not fade away.
TheGBP/USDexchange rate has been able to recover since then surging over 1.70% to trade at $1.272 as of July 23rd. While Sterling seems to have more room to go up, there is a massive resistance barrier sitting ahead of it. The Pound must break through $1.275 to retest June 10th high of $1.281 or even reach the next hurdle at $1.301.
Given the uncertainty around Britain’s economy, investors might be able to hedge against potential risks withBitcoin. The flagship cryptocurrency recently moved past the $9,400 resistance wall and made a higher high for the first time since June. If the buying pressure behind BTC continues to rise, it would likely take another shot at the infamous $10,000 hurdle. Moving past this area of resistance increases the odds for new yearly highs.
Everything will depend on Bitcoin’s ability to stay above the $8,900 support level.
Sterling was able to recover strongly following March’s market meltdown. The new fiscal stimulus recently announced and hopes for a vaccine against COVID-19 also seems to have helped propel the Pound higher. While the risks of Brexit talks and rising tensions with China are still relevant, GBP might be able to weather the storm against the US dollar.
Given the current economic outlook with the Federal Reserve adding more liquidity into the market, traders must watch out for the $1.275 resistance level since it may allow the Pound to advance further. If sell orders begin to pile up, however, Sterling might retrace to $1.253.
Under such circumstances, the two crucial price hurdles ahead of the Pound are the $1.275 resistance and the $1.266 support level. Moving above or below these critical price levels will determine where the GBP/USD exchange rate is headed next.
For a look at all of today’s economic events, check out oureconomic calendar.
Konstantin Anissimov, Executive Director at CEX.IO
Thisarticlewas originally posted on FX Empire
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• Dollar Momentum
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 10974.91, 10948.99, 10944.59, 11094.35, 10938.27, 10462.26, 10538.46, 10246.19, 10760.07, 10692.72
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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]
Not fully available.
[Random Sample of News (last 60 days)]
INSIGHT-Crypto crash threatens North Korea's stolen funds as it ramps up weapons tests: By Josh Smith SEOUL, June 29 (Reuters) - The nosedive in cryptocurrency markets has wiped out millions of dollars in funds stolen by North Korean hackers, four digital investigators say, threatening a key source of funding for the sanctions-stricken country and its weapons programmes. North Korea has poured resources into stealing cryptocurrencies in recent years, making it a potent hacking threat and leading to one of the largest cryptocurrency heists on record in March, in which almost $615 million was stolen, according to the U.S. Treasury. The sudden plunge in crypto values, which started in May amid a broader economic slowdown, complicates Pyongyang's ability to cash in on that and other heists, and may affect how it plans to fund its weapons programmes, two South Korean government sources said. The sources declined to be named because of the sensitivity of the matter. It comes as North Korea tests a record number of missiles - which the Korea Institute for Defense Analyses in Seoul estimates have cost as much as $620 million so far this year - and prepares to resume nuclear testing amid an economic crisis. Old, unlaundered North Korean crypto holdings monitored by the New York-based blockchain analytics firm Chainalysis, which include funds stolen in 49 hacks from 2017 to 2021, have decreased in value from $170 million to $65 million since the beginning of the year, the company told Reuters. One of North Korea’s cryptocurrency caches from a 2021 heist, which had been worth tens of millions of dollars, has lost 80% to 85% of its value in the last few weeks and is now worth less than $10 million, said Nick Carlsen, an analyst with TRM Labs, another U.S.-based blockchain analysis firm. A person who answered the phone at the North Korean embassy in London said he could not comment on the crash because allegations of cryptocurrency hacking are "totally fake news." "We didn't do anything," said the person, who would only identify himself as an embassy diplomat. North Korea's foreign ministry has called such allegations U.S. propaganda. Story continues The $615 million March attack on blockchain project Ronin, which powers the popular online game Axie Infinity, was the work of a North Korean hacking operation dubbed the Lazarus Group, U.S. authorities say. Carlsen told Reuters that the interconnected price movements of different assets involved in the hack made it difficult to estimate how much North Korea managed to keep from that heist. If the same attack happened today, the Ether currency stolen would be worth a bit more than $230 million, but North Korea swapped nearly all of that for Bitcoin, which has had separate price movements, he said. "Needless to say, the North Koreans have lost a lot of value, on paper," Carlsen said. "But even at depressed prices, this is still a huge haul." The United States says Lazarus is controlled by the Reconnaissance General Bureau, North Korea's primary intelligence bureau. It has been accused of involvement in the "WannaCry" ransomware attacks, hacking of international banks and customer accounts, and the 2014 cyber-attacks on Sony Pictures Entertainment. Analysts are reluctant to provide details about what types of cryptocurrency North Korea holds, which might give away investigation methods. Chainalysis said that Ether, a common cryptocurrency linked to the open-source blockchain platform Ethereum, was 58%, or about $230 million, of the $400 million stolen in 2021. Chainalysis and TRM Labs use publicly available blockchain data to trace transactions and identify potential crimes. Such work has been cited by sanctions monitors, and according to public contracting records, both firms work with U.S. government agencies, including the IRS, FBI and DEA. North Korea is under widespread international sanctions over its nuclear programme, giving it limited access to global trade or other sources of income and making crypto heists attractive, the investigators say. 'FUNDAMENTAL' to NUCLEAR PROGRAMME Although cryptocurrencies are estimated to be only a small portion of North Korea's finances, Eric Penton-Voak, a coordinator of the United Nations panel of experts that monitors sanctions, said at an event in April in Washington, D.C., that cyberattacks have become "absolutely fundamental" to Pyongyang's ability to evade sanctions and raise money for its nuclear and missile programmes. In 2019, sanctions monitors reported that North Korea had generated an estimated $2 billion for its weapons of mass destruction programmes using cyberattacks. One estimate from the Geneva-based International Campaign to Abolish Nuclear Weapons says North Korea spends about $640 million per year on its nuclear arsenal. The country's gross domestic product was estimated in 2020 to be around $27.4 billion, according to South Korea's central bank. Official sources of revenue for Pyongyang are more limited than ever under self-imposed border lockdowns to combat COVID-19. China – its biggest commercial partner - said in 2021 that it had imported just over $58 million in goods from North Korea, amid some of the lowest level of official bilateral trade in decades. Official numbers do not include smuggling. North Korea already only gets a fraction of what it steals because it must use brokers willing to convert or buy cryptocurrencies with no questions asked, said Aaron Arnold of the RUSI think-tank in London. A February report by the Center for a New American Security (CNAS) estimated that in some transactions, North Korea only gets one-third of the value of the currency it has stolen. After obtaining cryptocurrency in a heist, North Korea sometimes converts it to Bitcoin, then finds brokers who will buy it at a discount in exchange for cash, which is often held outside the country. "Much like selling a stolen Van Gogh, you’re not going to get fair market value," Arnold said. CONVERTING TO CASH The CNAS report found that North Korean hackers exhibit only "moderate" concern over hiding their role, compared to many other attackers. That allows investigators to sometimes follow digital trails and attribute attacks to North Korea, though rarely in time to recover the stolen funds. According to Chainalysis, North Korea has turned to sophisticated ways of laundering stolen cryptocurrency, increasing its use of software tools that pool and scramble cryptocurrencies from thousands of electronic addresses - a designator for a digital storage location. The contents of a given address are often publicly viewable, allowing firms such as Chainalysis or TRM to monitor any that investigations have linked to North Korea. Attackers have tricked people into giving access or hacked around security to siphon digital funds out of internet-connected wallets into North Korea-controlled addresses, Chainalysis said in a report this year. The sheer size of recent hacks has strained North Korea's capacity to convert cryptocurrency to cash as quickly as in the past, Carlsen said. That means some funds have been stuck even as their value drops. Bitcoin has lost about 54% of its value this year and smaller coins have also been hit hard, mirroring a slide in equities prices linked to investor concerns about rising interest rates and the growing likelihood of a global recession. "Converting to cash remains a key requirement for North Korea if they want to use the stolen funds," said Carlsen, who investigated North Korea as an analyst at the FBI. "Most of the commodities or products the North Koreans want to buy are only traded in USD or other fiat, not cryptocurrencies." Pyongyang has other, larger sources of funding that it can rely on, Arnold said. U.N. sanctions monitors have said as recently as December 2021 that North Korea continues to smuggle coal - usually to China - and other major exports banned under Security Council resolutions. VOLATILE CURRENCIES North Korean hackers sometimes appear to wait out rapid dips in the value or exchange rates before converting to cash, said Jason Bartlett, the author of the CNAS report. "This sometimes backfires as there is little certainty in predicting when the value of a coin will rapidly increase and there are several cases of highly depreciated crypto funds just sitting in North Korea-linked wallets," he said. Sectrio, the cybersecurity division of Indian software firm Subex, said there are signs North Korea has begun ramping up attacks on conventional banks again rather than cryptocurrencies in recent months. The firm's banking sector-focused “honeypots” – decoy computer systems intended to attract cyberattacks – have seen an increase in “anomalous activities” since the crypto crash, as well as an increase in "phishing" emails, which try to fool recipients into giving away security information, Sectrio said in a report last week. But Chainalysis said it had yet to see a major change in North Korea's crypto behaviour, and few analysts expect North Korea to give up on digital currency heists. "Pyongyang has added cryptocurrency into its sanctions evasion and money laundering calculus and this will likely remain a permanent target," Bartlett said. (Reporting by Josh Smith. Editing by Gerry Doyle) || As Crypto exchanges struggle in a bear market, are hardware wallets about to make a comeback?: The crypto hardware wallet industry, somewhat eclipsed as crypto exchanges gained in popularity, may be due for a gradual comeback. As some centralized crypto exchanges experienced difficulties in operations while crypto currencies plummeted in value and users clamoured to withdraw funds, this rise in instability may have boosted interest in the "cold wallet" industry. According to a report , the global hardware wallet market reportedly reached a value of $252 million in 2021 and is expected to reach a value of $1.1 billion by 2027, or a CAGR of 27.2%. This would suggest it may outpace the reported 12.7% growth rate of crypto exchanges, with a predicted market revenue value of $675 million by 2028. Read into that what you will. Suffice it to say that into this bear market is launching SF-based Hito , which is marketing itself as an "iPod for crypto." Hito is the size of a credit card, has a large multitouch screen and connects to devices wirelessly. Hito may be pushing at an increasingly open door. Given two of the primary hardware wallets, Ledger and Trezor, have roughly 5 million users, there would appear to be plenty of room for growth, since there are at least 295 million crypto holders who may decide to add hardware wallets to their portfolio. Hito is priced at $149. This contrasts with — for example — the cheaper Ledger NANO S, which comes in at around $65. Hito’s pitch for that extra cost is that transfers can be maid wirelessly using either Bluetooth or NFC, while updates and charging are also wireless. So I guess you are paying to remove the USB connector? There are other features, however. These include a 2-inch multitouch color screen that displays your crypto assets; support for over 600 digital assets, including Bitcoin, ETH and ERC20 tokens; connections to other wallets such as WalletConnect, MetaMask, Trust Wallet, Argent, Gnosis Safe Multisig; a single system-on-a-chip; support for multiple wallets and pin codes; and shielding from electromagnetic signal readers. Story continues If Hito is as simple to use as it claims to be, it may have a chance in the market, given current conditions. And it’s fair to say many hardware wallets require a lot more technical technical skills than the average person can muster, so any simplification is to be welcomed. I asked founder Mike Kirillov, CEO and founder of Hito why he thinks Hito has a shot in this current environment: “Previous hardware crypto wallets have been built for geeks and by geeks. They’re cumbersome, require technical skills, hard to interact with and always cause a feeling you’re about to do something wrong. Ultimately, they weren’t able to become a mainstream solution, meaning the funds of most crypto holders out there aren’t safe,” he said. Kirillov claims his team spent three years building Hito in stealth mode as "a ubiquitous, easy-to-use device with great UX. It is stylish, intuitive and ultimately protected hardware wallet that can that the mass audience can rely upon,” he claims. Certainly the more mainstream Crypto becomes, the more crypto fraud and scams are booming, favouring the argument for hardware wallets. Crypto scammers took a record $14 billion in 2021 (79% growth YoY). And $1.23 billion was lost in the first quarter of 2022, up almost 8x from a year ago, according to a report by Immunefi, largely because scammers can gain access to crypto accounts online. Hardware wallets can’t be hacked via the cloud in the same way, since your credentials never leave the device. However, it remains to be seen if Hito will be able to win over more users from exchanges; hardware wallets can also be simply, physically, lost. || Core Scientific Sold Over 7K Bitcoins for About $167M in June, Sees More Sales: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Core Scientific (CORZ) sold 7,202 bitcoins last month at an average price of $23,000 to raise about $167 million,according to a statementTuesday.
The company said proceeds from the sales were mainly used for payments toward ASIC servers, capital investments in additional data-center capacity and debt repayments. Core said it will continue to sell self-mined bitcoins to pay operating expenses, fund growth, retire debt and maintain liquidity.
“We are working to strengthen our balance sheet and enhance liquidity to meet this challenging environment, and continue to believe that we will be operating in excess of 30 EH/s in our data centers by year-end 2022,” CEO Mike Levitt said in a statement. “We remain focused on executing our plan, while taking advantage of distressed opportunities that may arise.”
Core Scientific’s operations produced 1,106 bitcoins in June, about 36.9 bitcoins a day, slightly higher than in May. Bitcoin production was helped by server deployments in June, but production advances were limited by a “substantial increase in curtailment activity,” Core said in its update. Daily production rose by about 14% during the month.
The company expects to release second-quarter earnings on Aug. 11.
Read more:Core Scientific Cites Crypto Market Turmoil in Lowering Its Growth Outlook || Tesla Just Sold 75% of Its Cryptocurrency Holdings for Nearly $1 Billion: Elon Musk ’s relationship with cryptocurrency is as complicated as the rockets he sends into space. In 2021, Tesla sank $1.5 billion into Bitcoin , stating to the Securities and Exchange Commission (SEC) that the investment would allow the carmaker “more flexibility to further diversify and maximize our returns on cash.” Tesla soon accepted cryptocurrency as payment for its EVs, and the carmaker raked in a breathtaking billion-dollar gain on investment in a mere 45 days. More from Robb Report Carmakers Can't Keep Up With Booming EV Sales as Supply Chains Falter The World's 500 Richest People Lost $1.4 Trillion in the First Half of 2022 The Crypto-Themed Restaurant in LA That Stopped Accepting Cryptocurrency Is Back Online The stake was ambitious, especially since Tesla already claimed more than $19 billion in cash and cash equivalents in hand just a few months earlier. But as is often the case, Musk seemed ahead of the curve—until he decided to re-write the rules once again. Citing cryptocurrency’s environmental unfriendliness, Tesla abruptly rebuked Bitcoin as payment just 49 days later. Bitcoin’s price went on to soar as high as $68,990, with Musk’s every move—from provocative tweets to Saturday Night Live appearances—nudging the currency’s value until it plummeted to as low as $17,800 in June of this year. Tesla & Bitcoin pic.twitter.com/YSswJmVZhP — Elon Musk (@elonmusk) May 12, 2021 Last week, Tesla raised eyebrows again by selling approximately 75 percent of its Bitcoin holdings, converting them into $936 million worth of good old-fashioned fiat currency. The move called out concerns over uncertainty surrounding the Covid-19 shutdowns in China. But during a quarterly earnings call, Musk insisted that “We are certainly open to increasing our bitcoin holdings in the future, so this should not be taken as some verdict on bitcoin.” He has even hinted that SpaceX, like Tesla, may soon accept Dogecoin as payment for merch. Story continues Musk’s seismic recalculations have stirred the pot among some of his most diehard believers, inspiring a backlash from some of his most loyal fans. As for Tesla and how it relates to the auto industry at large, Musk has—and will likely continue to—defy the tried and true. For the naysayers, consider that at any other moment in history, the richest men in the world had accumulated their wealth through equally ambitious but more orthodox means. (Vanderbilt, Rockefeller and Carnegie, these movers and shakers innovated within the constraints of their expansive empires.) However, as we hurtle further into the tumult of the 21 st century, through pandemics, political instability and brave new currencies, it seems Musk’s methods of madness might very well continue to find him landing on all fours. Best of Robb Report The Chevy C8 Corvette: Everything We Know About the Powerful Mid-Engine Beast The 15 Best Travel Trailers for Every Kind of Road-Trip Adventure The World’s Best Superyacht Shipyards Sign up for Robb Report's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram . Click here to read the full article. || Ethereum Hits Five Week High as DeFi Rallies: Maybe these are famous last words, but the weekend rebound in crypto doesnt feel like a dead cat bounce. Ether surged to its highest level in five weeks and other DeFi names finally shook off the doldrums and posted handsome gains of their own. Many top DeFi projects increased since posting a local low on July 13. Uniswap is up 37.5% in five days, and Aave jumped 47%. The rally follows a devastating second quarter for crypto and DeFi, with the sector losing two-thirds of its market value since early April. The value of assets locked in DeFi protocols also evaporated, tanking 65% to $83.1B. Round of Buying ETH has soared 10% in the last 24 hours in mid-day trading U.K. time, and 45% since bottoming out on July 13, according to CoinGecko. While ETH spent the past three weeks swinging between the $1,000 and $1,300 range, on July 16 it broke through $1,300 and apparently triggered a round of buying. In contrast, BTC is up 4.6% in the last 24 hours and 17% in the last five days, according to CoinGecko. ETH/USDT Source: TradingView Three of the top 100 DeFi tokens by market cap are up more than 150% for the week, including the governance token of the sectors tenth-largest project, Lido . Just eight of the top 100 tokens posted weekly drawdowns, with Neutrino System Base suffering the largest pullback with just 6.4%. Bullish Momentum CoinGecko estimates the combined capitalization of DeFi projects is $44.7B , up 22% over five days. The sector represents 4.2% of the global crypto market cap, and is one-quarter of the size of Ethereums capitalization. Despite the bullish momentum for DeFi tokens, the total value locked (TVL) in DeFi has produced a weaker recovery so far, with combined TVL up by 15% over the same period at $83.1B, according to DeFi Llama. Combined DeFi TVL. Source: DeFi Llama Ethereum-based DeFi protocols are outperforming the sectors average, increasing TVL by more than 18% from the local low on July 13. Ethereum now represents $52.6B in TVL, equal to 58% of the combined TVL. By contrast, top Ethereum Virtual Machine (EVM)-compatible Layer 1s Binance Smart Chain, Avalanche, and Solana have added between 9.5% and 11.5% to their TVLs over the same period. Leading Ethereum Layer 2s are also underperforming compared to Ethereum, with L2beat estimating the sector is worth $4B after gaining 11% in five days. Tron is the only major network to post consistent growth throughout July, growing from $4B to $5.86B since the month began. The growth can predominantly be attributed to the Tron-based money market protocol, JustLend, which has grown 120% to represent a TVL of $3.3B since the end of June and represents 57% of the networks locked value. Read the original post on The Defiant || Binance eliminates some bitcoin trading fees: Binance, one of the world's largest cryptocurrency exchanges by trading volume,saidWednesday that it would remove trading fees for 13 of its bitcoin trading pairs.
“In line with our user-first philosophy, Binance has always strived to provide the most competitive fees in the industry," Binance Founder and CEO Changpeng “CZ” Zhao said in a statement. "At its core, Binance is an inclusive platform with accessibility in mind. Eliminating the trading fees on selected BTC spot trading pairs is another move towards that direction.”
Starting July 8, customers can trade bitcoin without fees with stablecoins such as Tether (USDT), USD coin (USDC) and Binance's own stablecoin (BUSD), as well as the Euro (EUR) and Turkish Lira (TRY). Binance hasn't extended the offer to trading between bitcoin and the U.S. dollar.
Binance held 73% of crypto-only spot market share as of last month, according todatacompiled by the Block. The new system will be in effect "for the foreseeable future," according to a Binance spokesperson.
The offering, which the firm attributed to celebrating its 5th year anniversary, follows asimilar announcementfrom the firm's U.S. subsidiary on June 22.
"Outside of its anniversary, the obvious answer for why Binance is offering lower bitcoin trading fees is because [crypto trading] volumes have been going down," Chris Brendler, senior research analyst at D.A. Davidson, told Yahoo Finance. "It's more of a marketing initiative to generate trading activity alongside their anniversary."
On June 27,Zhao told Yahoo Finance Livethat the firm was seeing “a lot of opportunities in the market” given worsening conditions, citing increased hiring and "50 to 100" M&A deals it was considering in addition to exploring lowered trading fees.
Bitcoin's price hovered around $20,100 per coin as of midday Wednesday. The largest cryptocurrency by market capitalization, bitcoin has fallen more than 57 % since the beginning of the year.
The market capitalization for all cryptocurrencies sits at roughly $908 billion, down from more than $2.1 trillion in value at the beginning of the year.
This post has been updated with analyst comment.
David Hollerith covers cryptocurrency for Yahoo Finance. Follow him@dshollers.
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Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn, andYouTube || Canadian conservative slams party for exclusion from leadership race: By Steve Scherer OTTAWA (Reuters) -One of the top contenders in Canada's Conservative Party leadership contest, Patrick Brown, on Wednesday slammed a decision to disqualify him from the race as "corrupt" and said he was consulting his legal team about what to do next. Late on Tuesday, the party disqualified Brown citing "serious allegations of wrongdoing" of campaign finance rules, according to a statement. The party said it would share its information with the country's elections watchdog after the Brown campaign "did not satisfy concerns" about compliance. Brown responded on Wednesday by saying the party still had not told him what the allegations were. He said his campaign had been asked about an anonymous allegation that someone was being paid by a corporation to work on his campaign, which his campaign denied. "I did nothing wrong in my campaign. My campaign did nothing wrong," Brown said in an interview with broadcaster CTV, adding that the party wanted to favor his rival, frontrunner Pierre Poilievre. "Clearly the party establishment wanted Pierre... This is politically corrupt." Brown is currently mayor of Brampton, a city in Ontario near Toronto. He has had controversy in his political career, including stepping down as the Progressive Conservative leader of Ontario in 2018 to defend himself against allegations of sexual misconduct that were never proven. Former Conservative leader Erin O'Toole was ousted in February after losing last year's general election to Liberal Prime Minister Justin Trudeau. O'Toole's ejection from the party came after he was accused of not fully embracing massive protests against the government's COVID-19 vaccination policies. Since then, Poilievre - who was a vocal supporter of the protests - has emerged as the frontrunner by attacking the central bank and government for failing to contain inflation, and promising to embrace cryptocurrencies like Bitcoin if elected. Story continues In a Leger poll published last month, Brown was in third place with just 4% of Conservative voters saying he was their top choice, compared to 44% for Poilievre. Jean Charest was in second place with 14%, according to Leger. The winner of the vote will be announced on Sept. 10. A general election is not due until 2025. (Editing by Deepa Babington) || 7 Safe Dividend Stocks to Buy for a Bear Market: When trouble hits, the first instinct is to run but if you insist on holding your ground, you might want to consider pivoting your funds toward safe dividend stocks to buy. With the broader economic framework incentivizing stability over growth potential, investors are better served focusing on profitable companies that are able to reward their shareholders with consistent passive income.
To be sure, the prior paradigm of low interest rates bolstered growth-oriented names because the risk-reward profile essentially favored speculation. A perfect confirming example of this assessment is cryptocurrencies. They neither provide businesses nor dividends yet they have skyrocketed thanks to a profligate Federal Reserve. Now it’s the opposite situation where saving money is incentivized. Naturally, this dynamic bolsters safe dividend stocks to buy.
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Fundamentally, when the Fed raises borrowing costs, the net effect is deflationary. Spending diminishes, resulting in households eschewing discretionary purchases for the necessities. In this environment, it’s the most established businesses that generally perform well, which is great news for safe dividend stocks to buy.
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[{"Ticker": "DG", "Company": "Dollar General Corporation", "Current Price": "$240.52"}, {"Ticker": "V", "Company": "Visa Inc.", "Current Price": "$193.82"}, {"Ticker": "ALL", "Company": "The Allstate Corporation", "Current Price": "$122.07"}, {"Ticker": "UNH", "Company": "UnitedHealth Group Incorporated", "Current Price": "$489.68"}, {"Ticker": "EOG", "Company": "EOG Resources, Inc.", "Current Price": "$110.77"}, {"Ticker": "MCD", "Company": "McDonald\u2019s Corporation", "Current Price": "$243.06"}, {"Ticker": "AVGO", "Company": "Broadcom Inc.", "Current Price": "$496.10"}]
Source: Jonathan Weiss / Shutterstock.com
If you assumed that one of the best options for safe dividend stocks to buy are discount stores likeDollar General(NYSE:DG), you are not alone. Recently, analysts at Morgan Stanley recommended investors to buy DG stock as theprobability of a recession increases. While you should always conduct your due diligence, in my view, Morgan Stanley is spot on.
The overriding reality is thatconsumer sentimentis in the toilet. Therefore, it simply doesn’t make sense for many, if not most households to open their wallets for discretionary purchases. Until there is clear evidence of bullishness returning to the market and the broader business ecosystem, it’s all about limiting purchases to the necessities.
Now, given that the idea of DG as one of the safe dividend stocks to buy is rather obvious, you shouldn’t expect to be wealthy from its ownership, not with its 1% yield. But if you’re looking for protection combined with a realistic prospect of modest capital gains, Dollar General is attractive.
Source: Kikinunchi / Shutterstock.com
Another company that’s geared for stability rather than for shareholder affluence,Visa(NYSE:V) has suddenly become an interesting candidate among safe dividend stocks to buy. Commanding 336 million cardholders, Visa is thelargest major payment network. Over 40 million merchants accept the card, enabling tremendous flexibility. And flexibility is exactly what households will need soon.
Let’s take a quick trip to memory lane. Just before the start of the coronavirus pandemic, Americans had amassed atotal credit card balance of $930 billion. Two years later, this stat declined to $841 billion, an improvement of roughly 10%. Still, it’s a disappointing number since the government provided approximately $5 trillion in stimulus, $1.8 trillion of which was earmarked for individuals and families.
Altogether, this circumstance suggests that Americans are entering a possible recession with a massive debt load. But in a business-deflationary environment, many folks will find themselves needing to stretch their finances, which is exactly where Visa comes in.
Source: Jonathan Weiss / Shutterstock.com
When you’re seeking protection in safe dividend stocks to buy, arguably your best bet is to pick up names in the insurance industry. Basically, it comes down to thedirectly correlated relationshipbetween insurance-based equities and benchmark interest rates. As rates rise, so too does the market valuation of insurance companies likeAllstate(NYSE:ALL).
Of course, there are many insurance providers so what makes ALL stock intriguing? First, it has a yield of 2.8%, which compares very favorable to safe dividend stocks, which generally offers modest passive income in exchange for their resilience. Second, Allstate features solid financial metrics, particularly tools commonly used to gauge profitability.
As well, based on a basket of valuation tools, ALL is consideredundervalued. Of note, Allstate is currently running a price-sales ratio of 0.7, whereas the industry median is 1.06. Again, this datapoint bolsters the notion that you can get a good deal buying ALL stock now.
Source: Ken Wolter / Shutterstock.com
Admittedly, should a recession occur, the downgrade in economic performances presents challenges for health insurance providers likeUnitedHealth Group(NYSE:UNH). At the same time, the coronavirus pandemic likely represented a wake-up call to most Americans. Indeed, aWall Street Journalarticle pointed out that the crisisforced introspection, leading to career and lifestyle changes.
Under this context, health insurance may be considered a critical expenditure, something to be sacrificed from the budget only under the direst circumstances. If anything, Covid-19 taught us that anything can happen. Cynically, what better marketing literature do you need for an insurance company?
Fundamentally, UNH has another ace up its sleeve: robust financial readings. UnitedHealth has a solid balance sheet, evidenced by an Altman Z-Score level in the safe zone. On the income statement, the company is very profitable; itsnet marginof 5.91% ranks better than three-fourths of the competition.
To be fair, UNH isn’t going to make you rich with a yield of only 1.5%. Still, if you’re seeking trustworthy safe dividend stocks to buy, this might be it.
Source: Casimiro PT. / Shutterstock
Enjoying a reversal of fortunes, during the worst of the Covid-19 pandemic,EOG Resources(NYSE:EOG), an energy firm focused on hydrocarbon exploration, suffered severe market losses. Today, it has become one of the safe dividend stocks to buy in large part to cynical reasons. With Russia’s invasion of Ukraine effectively shelving large chunks of global oil supplies, names like EOG spiked higher.
Still, there are plenty of reasons to stay the course with EOG. First, the company features strong financials, such as adebt-equity ratioof 0.25 ranking higher than 69% of the competition. In addition, EOG’s Altman Z-Score is in the safe zone, implying little bankruptcy risk. On the income statement, the company features enviable profit margins. Valuation-wise, EOG is fairly valued, making it an intriguing pickup.
Second, fossil fuels are relevant, whether we like it or not. While the transition to sustainable energy is desired, it’s going to take some time. During the interim, the highenergy densityof hydrocarbons is difficult to ignore.
Source: Ratana21 / Shutterstock.com
Just because a recession occurs doesn’t mean that everyone’s going to hunker down and eat rice and beans all day. The impulse or motivation to splurge will still exist albeit tempered by a push to affordable options. Under this context, fast-food iconMcDonald’s(NYSE:MCD) could end up being a surprise winner among safe dividend stocks to buy.
For one thing, consumers instead of going cold turkey might switch their coffee habits from expensive joints likeStarbucks(NASDAQ:SBUX) to the Golden Arches, which would be a plus for MCD stock. Another factor is that McDonald’s could become the preferred treat among eateries compared to other pricier fare. Certainly, McDonald’s diverse menu and deals on its mobile app could be even more powerful during a recession.
Finally, the fast-food king enjoys solid financial metrics, particularly when it comes to profitability. With anet marginof just under 30%, McDonald’s ranks higher than 98% of companies in the restaurant industry.
Source: Sasima / Shutterstock.com
While a bit on the riskier side of safe dividend stocks to buy,Broadcom(NASDAQ:AVGO) will raise some eyebrows because of its technology business. On a year-to-date basis, AVGO has shed 25% of market value, so it’s no walk in the park. Nevertheless, its 3.3% yield is quite attractive, especially during this severely inflationary cycle.
More importantly, Broadcom may enjoy some economic insulation should a downturn materialize. The company features many relevant business units, particularly the sales and distribution of wireless chips and accessories that are integrated in smartphones. While these devices are considered discretionary, they’re also vital to stay connected with both personal and professional contacts. Therefore, Broadcom is likely to continue feeding healthy demand.
Further, the company enjoys many financial strengths, particularly in the profitability department. A net margin just shy of 30% puts Broadcom above almost 93% of competitors in the semiconductor industry.
On the date of publication, Josh Enomotodid not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
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The post7 Safe Dividend Stocks to Buy for a Bear Marketappeared first onInvestorPlace. || Elon Musk denies having affair with wife of Google founder Sergey Brin: Elon Musk has shut down reports that he had an affair with Nicole Shanahan, the wife of Sergey Brin Elon Musk has denied having an affair with the wife of Sergey Brin, who co-founded Google. Mr Musk took to Twitter to deny that he had had any kind of romantic relationship with Nicole Shanahan, describing reports as "total bs". The Tesla chief, 51, is an old friend of Mr Brin - who co-founded the search engine in 1998 - to such an extent that, for years, he used to crash at his Silicon Valley home. Mr Brin even lent Mr Musk $500 million to prop up Tesla in the early days and in return, he received one of Teslas first all-electric sport-utility vehicles. "Sergey and I are friends and were at a party together last night," Mr Musk wrote on Twitter. "Ive only seen Nicole twice in three years, both times with many other people around. Nothing romantic." Elon The reports, which Mr Musk said were false, alleged he had a brief affair with Mr Brin's wife in December last year. Mr Brin, himself the world's eighth richest person, and Ms Shanahan were separated at the time, but living together still, the Wall Street Journal reported on Sunday. Friends said Mr Brin filed for divorce in January, weeks after he learned of the brief affair. Ms Shanahan - who met Mr Brin on a yoga retreat seven years ago - is seeking $1 billion from the divorce, friends claimed, a fraction of Mr. Brins $95 billion fortune. In early July, Ms Shanahan told the news website Puck of the divorce filing: I hope for Sergey and I to move forward with dignity, honesty and harmony for the sake of our child. And we are both working towards that. Rift manifests in corporate dealings According to the Wall Street Journal, the rift between the two men has manifested itself in their corporate dealings with Mr Brin instructing his financial advisers to sell his personal stake in Mr Musks companies. Neither Mr Musk, Mr Brin, nor Ms Shanahan has commented on the allegations. Watch: Grimes confirms she and 'boyfriend' Elon Musk split before baby number 2 news The reports are just the latest chapter in a tumultuous year in the spotlight for the world's richest person, after recent reports he secretly fathered twins and has been engaged in a bitter fight with Twitter over his aborted attempt to buy the social media platform. Earlier this month it emerged that Mr Musk had become the father of two children with Shivon Zilis, an executive at Mr Musks neurotechnology firm Neuralink. Story continues Elon Musk pictured with his girlfriend Grimes, the mother of two of his children - Taylor Hill The twins were born last November. Then in March this year, Mr Musk welcomed a second child born to his musician girlfriend Grimes. Called Exa Dark Siderael, of Y for short she was a sister to X Æ A-12 or X who was born two years earlier. Now a proud father of nine , Mr Musk, hailed his growing brood on Twitter. Doing my best to help the underpopulation crisis, he wrote. A collapsing birth rate is the biggest danger civilization faces by far. Mr Musk, whose businesses include space exploration company, SpaceX , has undergone a similarly turbulent time in his corporate affairs over the last few months. Only last week his decision to stall on a deal to buy Twitter for $44 billion triggered acrimony and aggressive litigation with the social media giant urging a court in Delaware to force Mr Musk to complete the takeover. He had pulled out of the deal complaining about the number of fake and spam accounts on the service. Earlier this month it emerged that Tesla had been hit hard by a spectacular fall in the companys bitcoin investments. Mr Musk had invested $1.5 billion in the cryptocurrency, moving part of Teslas cash reserves into Bitcoin. The bet backfired spectacularly, costing the company an estimated $440 million . Tesla itself has run into trouble as the company faces competition from other car manufacturers moving into the electric vehicle market. And late last month Tesla was sued by two former employees who accused the company of illegally laying off staff without notice. Mr Musk, who said he had a super bad feeling about the economy said the firm needed to shed 10,000 jobs about a tenth of the workforce to cope. Mr Musk has also recently been accused of exposing himself to a flight attendant at his aerospace company, SpaceX, while on a flight to London, an allegation he has denied. || Investview, Inc. (''INVU'') Announces Restructuring of Incentive Equity Awards: Leadershipteam confirms confidence in Company outlook by surrender of outstanding share awards in favor of long-term option grants
Eatontown, NJ, June 27, 2022 (GLOBE NEWSWIRE) -- Investview, Inc. (OTCQB: INVU), a diversified financial technology company that through its subsidiaries and global distribution network provides financial technology, education tools, content, research, and management of digital asset technologies with a focus on Bitcoin mining and the new generation of digital assets, announced today an overall restructuring of the incentive equity awards previously granted to its senior leadership team. Under the restructuring, the Company’s senior management team and Board of Directors unanimously agreed to surrender and terminate an aggregate of approximately 288 million outstanding restricted shares in exchange for the issuance of approximately 360 million incentive options to purchase shares in the future at an exercise price of $.05 per share, or roughly a 66% premium over the closing price of the Company’s shares on Thursday, June 23, 2022. The exercise price and number of options into which the restricted shares were surrendered (based on an exchange ratio of 1.25 to 1) was established by an independent valuation firm engaged by the Company applying relevant valuation methodologies in a manner consistent with our recently completed annual audit. Of particular note, the shares issuable, if at all, upon exercise of the options, remain subject to the terms of the Company's existing lock-up agreement through April 25th, 2022.
According to Victor M. Oviedo, Company Chief Executive Officer, the restructuring was essential so that we could, among others, accomplish three primary goals. First and foremost, the restructuring tightens the Company’s existing share capital by eliminating 288,333,334 million outstanding shares of company stock, (representing approximately an 11% reduction in the Company’s issued and outstanding shares effective June 24, 2022); second, it puts the Company in a better tax posture so as to avoid the future drain on the Company’s capital if and when called upon to pay withholding taxes upon the non-cash vesting of restricted shares; and third, it avoids the need for executives to disrupt the market with an influx of shares upon each vesting event, particularly if it required the waiver of existing lock-up agreements to which each member of the management team has agreed to. Of additional benefit to the Company, the exercise price of the options has been set at a 66% premium to the closing price on June 23, 2022. Thus, in order for the Executives to achieve in their option grants comparable value to the restricted shares surrendered, Investview's market capitalization would have to grow to over $677 million (an increase of approximately $596 million from current market capitalization) or by roughly 732%.
David B. Rothrock, Company Chairman, added, “The options were designed to incentivize future retention. Thus, the options are subject to annual vesting over a five-year period. For option awards to be fully-earned, Executives must remain with the Company for at least a five-year term. This creates the incentive for key Executives to continue to lead Investview's management and to drive their performance as well as the performance of the Company over the long-term. This further aligns Leadership to focus its attention on key product and strategic initiatives and to make logical decisions that most impact Investview's long-term growth and profitability.I believe this re-alignment through the stock conversion to options provides the long-term path for our Executive Management Team to dynamically allocate capital and talent to achieve the company’s short and long term goals for its existing operations but additionally allows, where appropriate, the implementation of new strategic and synergistic initiatives toward unlocking what we believe is significant pent-up shareholder value”.
AboutInvestview, Inc.
Investview, Inc., a Nevada corporation (which we refer to as “we,” “us,” “our,” “Investview,” or the “Company”), a financial technology (FinTech) services company, operates several different businesses, including a Financial Education and Technology business that delivers a series of products and services involving financial education, digital assets and related technology, through a network of independent distributors; a Blockchain Technology and Crypto Mining Products and Services business including leading-edge research, development and FinTech services involving the management of digital asset technologies with a focus on Bitcoin mining and the new generation of digital assets; and a Brokerage and Financial Markets business that is currently in the early stages but plans to expand within the investment management and brokerage industries by commercializing on the proprietary trading platform we acquired in September 2021. For more information on Investview, please visit:www.investview.com.
Forward-Looking Statement
All statements in this release that are not based on historical fact are "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. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies, and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may,” “should," "could," "seek," "intend," "plan," "goal," "estimate," "anticipate" or other comparable terms. These forward-looking statements are based on Investview’s current beliefs and assumptions and information currently available to Investview and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. More information on potential factors that could affect Investview’s financial results is included from time to time in Investview’s public reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on Form 10-K for the year-ended December 31, 2021, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. The forward-looking statements made in this release speak only as of the date of this release, and Investview, Inc. (“INVU”) assumes no obligation to update any such forward-looking statements to reflect actual results or changes in expectations, except as otherwise required by law.
Investor RelationsContact: Ralph R. ValvanoPhone Number: 732.889.4300Email:[email protected]
[Random Sample of Social Media Buzz (last 60 days)]
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Trend: down || Prices: 21398.91, 21528.09, 21395.02, 21600.90, 20260.02, 20041.74, 19616.81, 20297.99, 19796.81, 20049.76
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-11-03]
BTC Price: 20209.99, BTC RSI: 53.92
Gold Price: 1627.30, Gold RSI: 39.34
Oil Price: 88.17, Oil RSI: 52.78
[Random Sample of News (last 60 days)]
7 S&P 500 Stocks to Buy During a Stock Market Crash: This years market selloff has been relentless and shows no signs of slowing down anytime soon. With the S&P 500 and Nasdaq indices each down 20% or more on the year and officially in a bear market, many analysts and traders are referring to this years downturn as a crash. Famed investors Michael Burry and Jeremy Grantham have each likened this years market decline to the dot-com and housing crashes of 2000 and 2008. They predict more pain is ahead for investors as central banks around the world raise interest rates to bring stubbornly high inflation back down to their 2% targets. The good news for individual retail investors is that there are several sturdy stocks to be found in the S&P 500 index that can be purchased now at discounted prices and provide predictable future gains. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Here are seven S&P 500 stocks to buy during the current stock market crash. AAPL Apple $152.55 TSLA Tesla $289.38 UNH UnitedHealth $517.28 V Visa $185.52 COST Costco $486.84 KO Coca-Cola $59.62 BAC Bank of America $32.56 Apple (AAPL) Apple (AAPL) logo brand and text sign on entrance facade store American multinational boutique corporation dealership shop Source: sylv1rob1 / Shutterstock.com Consumer electronics giant Apple (NASDAQ: AAPL ) remains the biggest stock in the S&P 500 index by weighting. With a market capitalization of $2.5 trillion, Apple is the biggest publicly traded company in the U.S. Prior to Covid-19, Apples market cap exceeded $3 trillion , making it the most valuable company in the world. It is difficult to overestimate the size and scope of Apples influence over the S&P 500 and other indices. A drop in AAPL stock can pull the entire market lower and send investors sprinting for the exits. Fortunately, Apple remains a stable, profitable and well-run company under the leadership of Tim Cook. Apples core electronics products, such as its iPhones, Apple Watches and MacBook computers, remain staples around the world, and are complemented by a growing number of services such as Apple TV, books and podcasts. Story continues The companys enduring success is the main reason why AAPL stock is only down 14% this year , proving to be more resilient than many other technology stocks. Over the past five years, Apples share price has risen 300%. Tesla (TSLA) TSLA stock: Tesla Super Charging station on Stockdale Hwy and the 5 fwy. Tesla Supercharger stations allow Tesla cars to be fast-charged at the network within an hour. Source: Sheila Fitzgerald / Shutterstock.com There are plenty of reasons for investors to remain excited about electric vehicle maker Tesla (NASDAQ: TSLA ). While the Austin, Texas-based company has faced challenges this year in the form of regulatory investigations , renewed Covid-19 restrictions in China, and a slowdown in consumer demand, it has also achieved multiple successes. These include opening a new manufacturing plant outside Berlin, Germany, and the doubling of its vehicle sales in the U.S. Tesla remains the global market leader in the electric vehicle space, and all other automakers are rushing to catch it. In terms of the companys stock, TSLA shares just split for the second time in as many years. On Aug. 24, Tesla split its stock on a 3-for-1 basis. This followed a 5-for-1 stock split back in August 2020. The latest split has brought the price of TSLA stock down to just under $300 a share. An 18% decline in the share price has also made the stock more affordable for retail investors. Many analysts continue to expect that Tesla will remain the global leader in EV sales for the foreseeable future given that the company allocates 19% of its gross profits to research and development (R&D), enabling it to stay a few steps ahead of its competitors. UnitedHealth (UNH) The UnitedHealth (UNH) headquarters in Minnetonka, Minnesota. Source: Ken Wolter / Shutterstock.com Healthcare isnt really subject to economic cycles. The healthcare sector is more influenced by demographics such as aging populations, as well as government regulations, prescription drug approvals, and technological advancements. As such, healthcare stocks can help a portfolio weather the ups and downs of the economy and market. One such stock is UnitedHealth Group (NYSE: UNH ), the largest health insurer in the U.S. and the biggest healthcare company in the world with annual revenues in excess of $285 billion. One of the 10 largest stocks in the S&P 500 index, UnitedHealths stock is up 3% this year. Over the past 12 months, UNH stock has increased 26% despite the broader downturn in equities. The size and resilience of UnitedHealths stock is one reason why investors should consider owning it to help them get through a stock market crash. UnitedHealth also continues to grow and get bigger. The company just secured a key approval in its efforts to acquire healthcare technology firm Change Healthcare (NASDAQ: CHNG ) for $8 billion. Visa (V) several Visa branded credit cards Source: Kikinunchi / Shutterstock.com While it hasnt had a significant breakout in over a year, credit card giant Visa (NYSE: V ) remains a dependable blue-chip stock . This year, V stock has declined 14%. But over the last five years, Visas stock has increased nearly 80%, and it has gained 660% during the past decade. The San Francisco-based payments company has proven that it can withstand economic and market shocks and emerge stronger on the other side. The company also has a track record of adapting to technological upheaval, which is the case now with a proliferation of competing financial technology (fintech) companies and payment apps such as Block (NYSE: SQ ) and SoFi Technologies (NASDAQ: SOFI ). Despite competitive pressures, Visa remains the market leader among established credit card companies. In 2020, nearly half (49%) of American adults had a Visa card in their wallet, compared to 39% who owned a Mastercard and 15% who had an American Express card. Visa is also a cash cow, having generated $16 billion in free cash flow during the past year, giving it the means to withstand any stock market crash. Costco (COST) A Costco Wholesale (COST) warehouse in Auburn Hills, Michigan. Source: ilzesgimene / Shutterstock.com Big-box retailer Costco (NASDAQ: COST ) is a reliable bet in any economy. The Seattle-based company has managed to keep its 117 million cardholders renewing their memberships this year by offering lower prices for products ranging from gasoline and eye glasses to meat and vegetables. As inflation has pushed consumer prices sharply higher, people continue to turn to Costco for deals. This loyalty on the part of its customers enabled Costco, which reports its earnings on a monthly basis, to announce August sales of $17.55 billion, up 11% from a year earlier. The companys same-store sales rose 8.7% during the month. There continues to be speculation that Costco plans to raise its membership fees to help offset the impacts of inflation. This speculation grew louder after competitor Sams Club announced that it is raising its basic membership fee to $50 from $45. However, so far, Costco has held its two-tier membership fees steady at $60 and $120, respectively. The company has also kept its popular $1.50 hot dog and soft drink deal intact, which has been cheered by patrons. Year to date, COST stock is down 13%. Coca-Cola (KO) coca-cola bottles and cans. coke is a blue-chip stocks Source: Fotazdymak / Shutterstock.com People continue drinking Coca-Cola (NYSE: KO ) even when the stock market is crashing. Some people may drink more Coke when they are stressed by sour market conditions. This makes KO stock a steady investment for investors to hold through market cycles. In fact, Coca-Colas stock is so steady that some analysts liken it to a bond . The share price never rises or falls dramatically, but inches higher over time, all the while paying a decent quarterly dividend that yields 2.95%. This year is a good example of KO stocks even temper. Year to date, the share price is up a slight 0.7%. In the past five years, the stock has gained 32%. After seeing its sales slow in 2020 due to restaurant and venue closures because of Covid-19, Coca-Cola has come roaring back. In 2021, the Atlanta-based companys sales rose 8% as lockdowns ended worldwide. Coca-Cola expects sales to grow a further 12% to 13% this year. Earnings per share are forecast to increase 5% to 6% for all of this year. Bank of America (BAC) Bank of America (BAC) logo on top of a retail office building. Source: 4kclips / Shutterstock.com Higher interest rates should help bolster the finances of Bank of America (NYSE: BAC ), the second-largest lender in the U.S. In time, higher rates charged on its mortgages, lines of credit, and other loans will surely be exhibited on Bank of Americas balance sheet and in its stock price. But in the near term, the Charlotte, North Carolina-based financial institution is grappling with a slowing consumer loan business, reduced revenues from its trading and deal desks , volatile commodity prices, and growing fears of an economic recession. Those issues have helped to push BAC stock down 27% this year. But rather than fret, intrepid investors should see the pullback in BAC stock as a buying opportunity. In addition to its diminished share price, Bank of America also has a low price-earnings ratio of 10.36x and pays a dividend that yields 2.7%. History shows that bank stocks are among the first to recover when the stock market rebounds from a crash, and Bank of America shareholders should benefit from elevated interest rates over a prolonged period. On the date of publication, Joel Baglole held long positions in AAPL, V and BAC. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air It doesnt matter if you have $500 or $5 million. Do this now. The post 7 S&P 500 Stocks to Buy During a Stock Market Crash appeared first on InvestorPlace . || Bitcoiner Bruce Fenton Loses Bid to Contest US Senate Seat in New Hampshire: Bitcoiner Bruce Fenton will not get the chance to represent the state of New Hampshire as a Republican in the U.S. Senate, losing his bid after primary polls closed late Tuesday.
Frontrunners Don Bolduc, a former military officer, and Chuck Morse, president of the New Hampshire State Senate, were still neck and neck at 3:46 a.m. Eastern time, separated by only 1% with 82% of precincts reporting, with Bolduc leading by a nose. They are competing to face incumbent Sen. Maggie Hasan (D-N.H.) in November.
Fenton's loss comes as the 2022 primary season wraps up. In addition to New Hampshire, the states of Delaware and Rhode Island held their primary elections Tuesday to close out the final preliminary leg of the midterm elections. The general U.S. election will be held on Tuesday, Nov. 8.
Fenton, in a Twitter post, thanked his supporters.
Despite Fenton's loss, the U.S. Senate may soon have more crypto-friendly lawmakers after this year's midterm. U.S. Representative Ted Budd (R-N.C.) won his primary bid for a seat in the upper house of the American legislature in June. He'll face Democrat Cheri Beasley in the November contest. Similarly, Blake Masters, a Peter Thiel-backed Republican, is competing against incumbent Sen. Mark Kelly, a Democrat, in Arizona, while Ohio hasRep. Tim Ryan (D) facing challenger J.D. Vance (R).
Budd, a three-term congressman, has introduced or supported a number ofcrypto-friendly billsover his time in office. However, few have actually become law.
Seats in the House and Senate are up for grabs this November, and though a seemingly record number of crypto-friendly candidates ran for office it ultimately was not much of an election issue. Several crypto-friendly candidates – and several candidatessupportedby the crypto industry – lost their primary races over the course of the year.
Rather, the U.S. economy, gun policies, voting policies, healthcare and crime were at the top of voters' minds this year, according to a Pew Research Centerpoll published in August. Abortion, while not a major election issue at the start of the year, took on a fresh importance after the U.S. Supreme Court functionally overturned the landmark Roe v. Wade case this summer. || Most Active On The OTC Markets In September – A Look Back As October Comes To A Close: By Jad Malaeb, Benzinga New York, NY --News Direct-- OTC Markets The SPDR S&P 500 ETF Trust (NYSEARCA: SPY) declined by 9.62% in September – its largest decline in 2022. The Fidelity NASDAQ Composite Index ETF (NASDAQ: ONEQ) and the SPDR Dow Jones Industrial Average ETF (NYSEARCA: DIA) mimicked this downward trend, showing monthly decreases in September of 10.54% and 8.98%, respectively. OTC Markets Group Inc. ’s (OTCQX: OTCM) regulated markets experienced a slight increase in total monthly volume, recording $39.5 billion in September compared to $39.3 billion in August. A Dive Into The OTCQX Best Market’s Most-Active List The OTCQX Best Market recorded $7.3 billion in trading volume in September, a slight increase over the $6.9 billion traded in August . Despite Ethereum’s successful completion of the Merge, trading volume in Grayscale Ethereum Trust (OTCQX: ETHE) waned in September, dropping the security to third on the OTCQX Best Market’s Most Active list. Steadfast performers Roche Holding AG (OTCQX: RHHBY) and Grayscale Bitcoin Trust (OTCQX: GBTC) slotted into first and second place, respectively. Additionally, OTCQX’s top 10 most-active securities experienced a slight reshuffle in September, welcoming previously familiar faces in Danone (OTCQX: DANOY) and in Deutsche Telekom AG (OTCQX: DTEGY) and Akzo Nobel N.V. (OTCQX: AKZOY). The three newcomers displace BASF SE (OTCQX: BASFY), Anglo American PLC (OTCQX: NGLOY) and Imperial Brands PLC (OTCQX: IMBBY) in the top 10 most-active securities list. Other notable movers: J Sainsbury PLC (OTCQX: JSAIY) claimed the 28th spot on the OTCQX’s Most Active list, experiencing a 203% increase in trading volume. Koninklijke Ahold Delhaize N.V. (OTCQX: ADRNY) claimed the 15th spot on the OTCQX’s Most Active list, experiencing a 127% increase in trading volume. The OTCQB Venture Market Experiences A Reshuffle The OTCQB Venture Market recorded $642.6 million in trading volume in September, an increase from both July’s $463 million and August’s $601 million trading volume figures. Like the OTCQX Best Market, the OTCQB Venture Market’s top 10 Most Active list for the month saw new entries. Specifically, Todos Medical Ltd. (OTCQB: TOMDF) and American Lithium Corp. (OTCQB: LIACF) made way for Global Tech Industries Group Inc. (OTCQB: GTII) and Know Labs Inc. (OTCQB: KNWN). Similar to August, the OTCQB Venture Market witnessed a number of novelties in September. In addition to two new companies on the top 10 Most Active List, the constituents of the list experienced a shakeup. Biotechnology company CytoDyn Inc. (OTCQB: CYDY), for example, dropped from most traded to seventh-most traded security, while newcomer Global Tech Industries took a giant leap all the way to first place. Lithium miner Lake Resources N.L. (OTCQB: LLKKFF) experienced a similar jump, rising to second place from eighth place last month. Story continues Other notable movers: Silver Mountain Resources Inc. (OTCQB: AGMRF) climbed to 11th place on the Most Active list and recorded an $8.9 million rise in trading volume compared to last month. Know Labs Inc. climbed to 10th place on the Most Active list for the OTCQB Venture Market and recorded a $7.7 million rise in trading volume compared to last month. BioLargo Inc. (OTCQB: BLGO) climbed to 23rd place on the Most Active list and recorded a $2.3 million rise in trading volume compared to last month. The OTCQX And OTCQB Top 10 Below are the top 10 most actively traded securities on the OTCQX Best Market and OTCQB Venture Market in September. OTCQX Top 10: Company Name Symbol September Dollar Volume Roche Holding Ltd. RHHBY $ 1,707,901,205 Grayscale Bitcoin Trust (BTC) GBTC $ 785,442,416 Grayscale Ethereum Trust (ETH) ETHE $ 685,952,488 adidas AG ADDYY $ 317,175,529 BNP Paribas BNPQY $ 295,090,950 Deutsche Telekom AG DTEGY $ 268,213,144 Computer Services Inc. CSVI $ 216,708,362 Akzo Nobel N.V. AKZOY $ 167,395,328 Danone DANOY $ 167,340,096 Infineon Technologies AG IFNNY $ 158,503,975 OTCQB Top 10: Company Name Symbol September Dollar Volume Global Tech Industries Group Inc. GTII $ 119,304,739 Lake Resources N.L. LLKKF $ 24,528,742 Stemtech Corp. STEK $ 22,459,406 Northwest Biotherapeutics Inc. NWBO $ 21,313,034 American Battery Technology Co. ABML $ 16,729,817 Fannie Mae FNMA $ 15,086,158 CytoDyn Inc. CYDY $ 14,135,987 Netlist Inc. NLST $ 13,413,921 Freddie Mac FMCC $ 12,995,635 Know Labs Inc. KNWN $ 10,652,167 OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market. Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets. OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details OTC Markets Group, Inc. [email protected] Company Website https://www.otcmarkets.com/ View source version on newsdirect.com: https://newsdirect.com/news/most-active-on-the-otc-markets-in-september-a-look-back-as-october-comes-to-a-close-433753258 View comments || Apollo Global to Hold Crypto for Institutional Clients Through Anchorage Partnership: Apollo Global Management – one of the world’s largest asset managers, with more than $500 billion under management – is breaking into crypto custody through a partnership with digital asset platform Anchorage Digital.Anchorage, which is the first federally chartered digital asset bank in the U.S., will custody a “significant portion” of Apollo’s crypto portfolio. In total, Apollo holds over $500 billion in assets under management.
“We were drawn to working with Anchorage given their commitment to operating under strict regulatory oversight, their strong emphasis on security and segregation of client assets, and their ease of use for asset managers to hold digital tokens,” said Apollo COO Adam Eling in astatementon Monday.Eling added that the company would explore new ways to apply blockchain technology across its business.
The move marks another major entrance into crypto from a national leader in asset management, following BlackRock’spartnershipwith Coinbase for Bitcoin trading and custody in August. Fidelity, one of the first major financial firms to break into Bitcoin back in 2018,introducedEthereum trading to institutional clients earlier this month.
Apollo brought on former JPMorgan crypto lead Christine Moy in April to be its Head of Digital Assets. Moy toldDecryptat the SALT conference last month that Apollo is “looking to be a real-world practitioner” of blockchain technology and is also interested in “putting real-world assets on-chain.”
Of course, the partnership also takes place during a major down year for both crypto prices andtrading activity, possibly indicating that long-term interest in the asset class is still bubbling under the surface.
“Institutions are taking a long-term approach to crypto,” Anchorage president Diogo Mónica toldDecryptin an email.
While he declined to comment on which digital assets it would custody on Apollo’s behalf, he said he’s confident that Apollo and other institutional partners are “here to stay.”
“Apollo is a leader in the alternatives industry, so their use of Anchorage’s custody platform is incredibly validating,” Mónica added.
Anchorage and Apollo’s relationship started more than a year ago when the latter firm started exploring the best ways to safeguard clients’ crypto holdings.
The asset manager later contributed to Anchorage’s growth by joining its$350 million Series D funding roundlast December. At the time, Mónicahintedthat big banks and corporations had been preparing products for years that would likely hit the market in “mid-to-late 2022.” || Core Scientific Again Raises Bitcoin Mining Hosting Rates: The world's largest bitcoin miner, Core Scientific (CORZ), raised its rates for hosting other companies' machines to just under 10 cents per kilowatt hour, two people familiar with the matter told CoinDesk.
It's the latest price hike for Core Scientific, which hadpreviously raised its ratesby 20%-25% in recent months because of soaring energy costs. With the price of bitcoin stubbornly hanging around in the $20,000 area, the boosted costs make it even more difficult for miners to break even.
Hosting is a service that data centers provide to crypto miners so that customers can store their mining rigs and mine digital assets for a fee without having to build the infrastructure themselves. Core Scientific has both a hosting and mining business, with22.5 exahash/second (EH/s)of its own and others' computing power in its data centers across the U.S. The company is actually losing money of late on hosting operations, according to its most recentearnings report.
A Core Scientific spokesperson declined to comment on the specifics, but said that "increased power costs are passed through" to customers ... While the cost of power has been on the rise, we do expect power costs to decline again in the future, which would be reflected in our future rates."
"All units outside of the [Bitmain Antminer] S19 XP [go] into negative gross margin territory," at above 9 cents per kilowatt hour, said Ethan Vera, chief operating officer at mining services firm Luxor Technologies. "If hashprice [the value of 1 terahash/second of computing power per day] trends down we expect it to hit some resistance points as the high-cost operators and low-efficiency miners turn off," he added.
Analyst Chris Brendler at investment bank DA Davidsondowngraded CORZfrom buy to neutral in a note earlier today, saying it was a tough decision given it is the "best-in-class in many ways." However. the miner is at a "significantly more stressed liquidity position than expected" and its hosting business is under stress due to unhedged power and "uneconomic hosting contracts," Brendler wrote.
Cheap hosting has become next to impossible to find in the U.S. as electricity prices have increased significantly along with the price of natural gas. Meanwhile, miners in Europe have either powered off or aremoving to the northern parts of the continentin search of cheap power to stay afloat.
Read more:A Huge Glut of Bitcoin Mining Rigs Is Sitting Unused in Boxes || Deglobalization Is Happening. Crypto Is Part of the Answer: We woke up this morning to two very different yet deeply related pieces of news. In the Baltics, President Vladimir Putin announced that Russia wouldannex four regions of Ukraine, signaling the continued intensity of the war there. And in Florida, hurricane Ian has inflicted catastrophic damage,unprecedentedeven for that perennially hurricane-prone state.
In different ways both events highlight the need to reshape the fundamental infrastructure of human society into something more robust, transnational, individualized and fluid. That includes the need for financial networks that can’t be cut off by autocratic leaders or destroyed by natural disasters.
This article is excerpted from The Node, CoinDesk's daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the fullnewsletter here.
These points were perhaps less obvious when the Bitcoin project was launched in 2009. Russia was still plausibly on a path to Western-style liberalization, and more generally there was a sense that democratic politics and market economies would become the universal standard. And while events like 2005’s Hurricane Katrina had already provided plenty of warning about the impacts of climate change, many were still in denial. Americans in particular still thought they were living in the capitalist utopia of Francis Fukuyama’s“End of History,” or its far more simpleminded cousin, Thomas Friedman’s“Flat” world.
Of course, Friedman wasn’t entirely wrong. The world has “flattened” in the sense that we can now communicate across long distances far more effectively than was possible even two decades ago. But in many cases that only offers a better view of unfolding tragedies.
Globalized communication, for instance, has allowed us to see far more clearly the disconnect betweenRussia’s kleptocratic leadershipand its people, who are as divided and diverse as any other population on Earth. Vast numbers of Russiansloathe Putinand everything he stands for, but nonetheless find themselves at risk of beingdisappeared from the international communityby forces effectively beyond their control.
See also:Apolitical Crypto Networks in Times of Sanction and War| The Node
Regardless of the outcome of Putin’s aggression, individuals running businesses in Russia are likely to have far less access, above all, to international logistics systems including payments, shipping and transportation. These systems have become vastly more open in the past half-century, but there are still choke points at the nation-state level. SWIFT, the network that connects banks across borders, has kicked out at leastseven Russian banks, for instance.
The rising rate of massive natural disasters, fueled by climate change, has similar disruptive effects. Things are bad in Florida, but they’re even worse in Pakistan, where flooding this month has caused1,500 deaths. In any area vulnerable to these changes, even the most basic infrastructure could simply be wiped away in one fell swoop. Climate change is also expected to exacerbate political divisions aswaves of refugeesleave those vulnerable places.
Political and ecological instability are two aspects of an increasingly recognized process of“deglobalization.”If the 20th century was marked by economic integration and a greater awareness of our common humanity, the 21stt seems poised to reinscribe differences and borders, even as we all stare across those gaps at each other’s TikTok posts. Basic economics tells us that this fragmentation will make us all poorer, even if we’re not directly impacted.
It would be Thomas Friedman-caliber hubris to argue that blockchain and cryptocurrency networks are the answer to these rising systemic crises. They can certainly provide a way for individuals to transact despite things like the SWIFT cutoff, and a form of financial record keeping that can’t be upended by a tornado hitting the building where your bank balance is saved. But they also face an array of basic limits, such as the vulnerability of internet access itself in destabilized areas.
See also:Why Russia Isn't Relying on Crypto to Evade Sanctions| Opinion
But blockchain and crypto do at least provide an innovative and even inspiring model for how systems can transcend and resist the forces of deglobalization, a technical means to provide services across borders without reliance on fragile political trust. Truly censorship resistant and decentralized systems can’t be politically attacked through single choke points. Despite their serious limitations in the present day, we already see the appeal of those tools in places as diverse asIran,KenyaandArgentina.
The rise of a common global financial infrastructure will continue as the international landscape becomes even more fragmented, simply because it will become more necessary. The successive waves of speculative crypto hype over the past decade have provided plenty of cover forbad actorsandincompetent rubesto misdirect that narrative towards mere self-enrichment. But days like today are a reminder of just how vital it is to get it right. || Crypto Hardware Maker Fabric Systems Raises $13M in Seed Funding: Crypto hardware technology startup Fabric Systems has raised $13 million in seed equity funding, with the capital to be used to build two products – a liquid-cooled bitcoin miner and a computer processor for advanced cryptographic algorithms such aszero-knowledge proofs.
“Most of the funding is going to be used on the Bitcoin side,” Fabric co-founder Michael Gao told CoinDesk. “Some of the funding will be used for pilot experiments in the zero-knowledge-proof side.”
Participating in the round were Metaplanet - the investment vehicle of Skype co-founder Jaan Tallinn –Blockchain.comand 8090 Partners.
Fabric is seeking to attract crypto miners in a down market with a more efficient computer.
Read more:Bitcoin Mining Difficulty Surges to All-Time High, Putting Additional Squeeze on Miners
“Fabric’s Bitcoin miner will set a new standard for the industry in terms of energy efficiency, cost and form factor,” the company said in a statement. “Beyond its extremely energy efficient Bitcoin mining chips, it will be the first out-of-the-box immersion cooled machine."
Read more:Cryptocurrency Miners Turn to Exotic Cooling Systems as Competition Heats Up
Gao expects the machines will be in full production and mining at customers' facilities by the end of the next year.
Making bitcoin mining chips, however, is no easy task as the market is mostly controlled by large manufacturers like Bitmain and MicroBT. While there have been many false promises of competition, there have been some recent successes. Intel (INTC), for instance, has entered the bitcoin mining market, to help provide miners withmore efficientand environmentally friendly mining chips to compete with the incumbents. || Markets: Bitcoin price falls below US$19,000, XRP gains on SEC lawsuit developments, Ether post-Merge slide continues: Bitcoin fell below the US$19,000 resistance level for the second time in a week in early Wednesday trading in Asia. Ether and most other tokens in the cryptocurrency top 10 by market capitalization lost ground. XRP was the exception, gaining on news the token’s issuer, Ripple Labs Inc, and the U.S. Securities and Exchange Commission (SEC) are seeking a summary judgment to end their protracted lawsuit. See related article: Ethereum says Merge upgrade successfully completed, more to come Fast facts Bitcoin fell 3.3% in the past 24 hours to trade at US$18,886 at 8 a.m. in Hong Kong, while Ether lost 3.9% to US$1,323 according to CoinMarketCap . Solana saw similar losses, dropping 3.8% to US$31.42. Dogecoin was little changed, dipping 0.3% to US$0.058. Ether has fallen 16% in the seven days since the much-anticipated “Merge” to a proof-of-stake network on Sept. 14. Ethereum Classic, the network from which Ethereum is forked, fell 4.9% to US$29.13, bringing its losses since the Merge to 17.5%. XRP was the sole gainer in CoinMarketCap’s top 10, gaining 7.4% to US$0.41. The token reached its highest price since late May overnight at US$0.4215 on reports Ripple and the SEC are seeking a summary judgment to end a lawsuit that began in December 2020 without going to trial. In the lawsuit, the SEC alleged the sale of XRP constituted an offering of unregistered securities worth over US$1.38 billion. U.S. equities ended Tuesday trading lower. The Dow Jones Industrial Average and the Nasdaq Composite Index fell 1%, while the S&P 500 Index lost 1.1%. The U.S. Federal Reserve began its two-day Federal Open Market Committee (FOMC) meeting on Tuesday where it is expected to raise interest rates by a further 75 basis points to curb inflation. Fed Chair Jerome Powell has repeatedly said despite the risk of higher unemployment and weaker economic growth, he will continue to raise interest rates until inflation falls back to a target level of 2% from the current rate of more than 8%. “These are the unfortunate costs of reducing inflation,” he said at the Fed’s annual symposium last month. “But a failure to restore price stability would mean far greater pain.” See related article: SEC, Ripple seek summary judgment in attempt to speed up XRP lawsuit || Markets: Bitcoin, Ethereum hold gains, Terra Classic soars on Luna airdrop: Bitcoin held onto gains above US$19,000 in late afternoon trading in Asia. Ethereum also rallied to post the biggest gain among tokens in CoinMarketCap’s top 10 by market capitalization. Terra Luna Classic surged more than 50%.
See related article:Markets: Bitcoin climbs above $19,000, Ether bounces back, BNB gains on staking
• Bitcoin rose 2.1% in the past 24 hours to US$19,192 at 4:30 p.m. in Hong Kong, adding to gains from earlier in the day, while Ether rose 6.3% to US$1,613, according todata from CoinMarketCap.
• The native token of the original Terra blockchain,Terra Classic, jumped 51.6% in the prior 24 hours to US$0.00053 after Terra announced a free Luna airdrop to its holders. Terra Classic is now up 117.8% over seven days. TerraClassicUSD climbed 20.1%.
• The upcoming Merge of the Ethereum network is generating some optimism among investors, but the gains may be short-lived, Roger Zhou, head of business development at Singapore-based digital asset management firm Metalpha, toldForkastin an email.
• “The main reason behind this [gain] is the oversold rebound and the good news from the ETH merge,” Zhou said. “The real recovery may have to wait until the end of this round of interest rate hikes by the Federal Reserve.”
• Federal Reserve Chairman Jerome Powell will be speaking at the Cato Institute in the U.S. on Thursday.
• Asia equity markets had a mixed day, though the Nikkei 225 index rose a strong 2.31% on the back of gains on Wall Street overnight. However, the Hong Kong Hang Seng index closed down 1%, and the Shanghai Composite index lost 0.33%.
• Marcus Sotiriou, an analyst at U.K-based digital asset broker GlobalBlock, highlighted the U.S. consumer inflation index data set to be released on Sept. 13. “Last month CPI was 8.5% year-over-year. If the number released next week is lower than this figure the market should see some relief. If the number is the same or higher, however, investors could remain cautious about risk-assets, including crypto,” he said.
• (Corrects name of Metalpha official.)
See related article:Fed officials call for stablecoin regulations amid concerns over financial stability || Is it Still Safe to Acquire CarMax (KMX) Shares?: Claret Asset Management , an asset management firm, published its third quarter 2022 investor letter – a copy of which can be downloaded here . According to the fund, higher interest rates will eventually act as a brake to this economy on steroids that is mainly funded through extreme fiscal largesse and printed money by central banks. The fund invests in companies with real business models that are well-run, have great prospects, and generate positive cash flows for the foreseeable future. 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, Claret Asset Management mentioned CarMax, Inc. (NYSE: KMX ) and explained its insights for the company. Founded in 1993, CarMax, Inc. (NYSE:KMX) is a Richmond, Virginia-based used car company with a $9.8 billion market capitalization. CarMax, Inc. (NYSE:KMX) delivered a -52.09% return since the beginning of the year, while its 12-month returns are down by -54.39%. The stock closed at $62.39 per share on October 13, 2022. Here is what Claret Asset Management has to say about CarMax, Inc. (NYSE:KMX) in its Q3 2022 investor letter: "Used car retailer CarMax announced declining sales (in units) for the quarter, citing low consumer confidence. Moreover, loan loss provisions more than doubled, signalling weakening consumer demand due to inflationary pressure and higher financing rates. For whatever reason, the stock market seems to always precede the economic reality: As for CarMax, the stock price has been cut by more than half, dropping from a high of $156 on November 8, 2021, to today’s $66. Volks, Car, Cars, Volkswagen, Germany, German Photo by Malusi Msomi on Unsplash Our calculations show that CarMax, Inc. (NYSE:KMX) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds . CarMax, Inc. (NYSE:KMX) was in 28 hedge fund portfolios at the end of the second quarter of 2022, compared to 27 funds in the previous quarter. CarMax, Inc. (NYSE:KMX) delivered a -31.85% return in the past 3 months. In June 2022, we also shared another hedge fund’s views on CarMax, Inc. (NYSE:KMX) 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: 13 Best Cybersecurity Stocks To Buy Best Bitcoin Stocks To Buy Best Casino Stocks To Buy Disclosure: None. This article is originally published at Insider Monkey . View comments
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 21147.23, 21282.69, 20926.49, 20602.82, 18541.27, 15880.78, 17586.77, 17034.29, 16799.19, 16353.37
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin Cash Slips 11% as Crypto Market Starts Week with $6 Billion Loss: The light at the end of the tunnel could be a train.
The saying fits Bitcoin Cash ABC whose market capitalization established a weekly high at $2.36 billion on January 24. But, at the start of this week, the cryptocurrency’s cap fell to as low as $1.94 billion.
BITCOIN CASH 7D PERFORMANCE | SOURCE: COINMARKETCAP.COM
At 1354 UTC, theBCH/USD pairwas trading at 110.81, down 11% on a 24-hour adjusted timeframe, according to data aggregator CoinMarketCap.com. The service also highlighted that traders exchanged large hands between Bitcoin Cash and Bitcoin on LBank and P2PB2b – both of them unregulated.
Read the full story onCCN.com. || Number of Bitcoin ATMs Hits 4,000 Globally: Why is it Growing So Rapidly?: ByCCN.com: According to a report released by ValueWalk, the number of Bitcoin ATMs worldwide has surpassed 4,000 and the market is still growing rapidly.
The increase in the number of Bitcoin ATMs comes in a period during which cryptocurrency businesses are prioritizing compliance, dealing withstrictKnow Your Customer (KYC) and Anti-Money Laundering (AML) policies.
On January 20, CCNreportedthat ShapeShift, a Switzerland-based cryptocurrency exchanges, received 18 subpoena requests from the U.S. authorities in 2018.
Although the number of requests received by ShapeShift was far less than that of Kraken, a major digital asset trading platform that received 315 subpoena requests from the U.S. government last year, it was relatively high given the fact that ShapeShift is not a U.S. corporation.
The U.S. government filed 66 percent of all subpoena requests received by Kraken, which serves 80 percent of its users outside of the U.S.
The rise in the demand for and popularity of crypto ATMs coincides with the G20’s efforts to regulate the cryptocurrency sector with tightened regulatory frameworks.
Most major cryptocurrency markets in the likes of Japan and South Korea have implemented new policies in regards to transaction monitoring, user surveillance, and fraud prevention since 2017.
Bitcoin ATMs provide an alternative to strictly regulated cryptocurrency exchanges by allowing both buyers and sellers to purchase or sell cryptocurrencies like Bitcoin with minimal identification and KYC requirements.
But, there are some downsides to Bitcoin ATMs, especially for regular and experienced users. The fees on Bitcoin ATM transactions are percentage-based in most cases, leading to substantially higher fees than on cryptocurrency exchanges.
Most Bitcoin ATMs also have low daily limits for buyers and sellers, disallowing individuals from buying or selling large amounts of Bitcoin at a time to prevent the usage of ATMs in money laundering.
Speaking to ValueWalk, Straight Up Capital managing partner Sean Keefe said that Bitcoin has the potential to become a key part of the e-commerce sector, which may contribute to the increasing demand for Bitcoin ATMs.
“E-commerce is over. Cryptocurrency is the future. Companies like Overstock.com are only doing Bitcoin transactions, and other digital conglomerates like Amazon and Facebook know the war chest is coming. Just like aol.com was a brand name in the mid-’90s, Bitcoin is just the start of many brands to come that will offer the same service. It’s only a matter of time before everyone will have a Bitcoin option on their mobile devices,” Keefesaid.
In South Korea, for instance, despite being one of the largest cryptocurrency markets along with the U.S., Japan, and Europe, the usage of Bitcoin ATMs has declined throughout the last two years.
Bitcoin ATM companies such as Coinplug have pivoted to operating a regulated cryptocurrency exchange with previously obtained capital from venture capital firms.
A key to the long-term success of Bitcoin ATMs is to lower the transaction fees and to provide reasonable conversion rates. But, due to high maintenance costs, it remains uncertain whether these issues can be addressed in the months to come.
The postNumber of Bitcoin ATMs Hits 4,000 Globally: Why is it Growing So Rapidly?appeared first onCCN. || Italian Securities Regulator CONSOB Adds Crypto Company Togacoin to Scam Blacklist: The Italian securities regulator, Commissione Nazionale per le Società e la Borsa (CONSOB), has added crypto company Togacoin to its scam blacklist on Jan. 28. The regulator released its warning against Togacoin alongside similar warnings concerning binary options company Smart Choice Zone and forex exchange Fx Breeze. The three firms have been added to the CONSOBs warning list because of failing to obtain authorization to operate in Italy. Togacoins website features a Revenue Calculator that promises a return of 239% in one year, a 654% return in three years and a 33-page white paper . The website also outlines the companys plans to become part of a new generation of mining operations, which is climate-friendly, less subject to the fluctuations of energy price and, finally, more profitable and safe. As Cointelegraph reported in December last year, CONSOB suspended two other projects for purportedly offering fraudulent crypto investment schemes. Namely, the regulator suspended the Bitsurge Token and Green Energy Certificates, which are allegedly scam projects from Avalon Life, a company that is not based in the European Union . During the same month, the CONSOB also issued a cease and desist order to crypto project Avacrypto. The month before, the regulator sent similar orders to other three crypto-related companies: Richmond Investing, Cryptoforce and Eagle Bit Trade. Related Articles: Fifteen Alleged Operators of $8 Million Crypto Scam Arrested in Taiwan Maltas Financial Watchdog Warns Global Investors Against Bitcoin Revolution Scam Leaders of South Korean Crypto Exchange Komid Jailed for Faking Volume: Local Media Owner of Hacked Crypto Exchange BitGrail Sentenced to Return Funds to Customers || CBOE Chairman: Wall Street Wary of Crypto Investments Due to Lack of a Bitcoin ETN: ByCCN.com: Chicago Board of Exchanges (CBOE) CEOEd Tillybelieves the cryptocurrency market needs a bitcoin-based Exchange-Traded Note to “truly grow.” His comments come on the back of postponed ETF launches for bitcoin, which could be pushed back indefinitely due to anongoing U.S. government shutdown.
Hundreds of theories tend to explain the lack of a bolstering bitcoin trading market. However, most base themselves on the absence of both institutional investors and traditional market-like frameworks in the cryptocurrency space.
Tilly strongly agrees with the above. He sees the lack of a traditional market-tracking index and a reliant futures contract - that most Wall Street investors use to hedge their bets - as a limiting factor in the crypto market.
But the lack of quick regulatory decisions made by the government means investors repeatedly face an old story---bitcoin-related financial products getting pushed back due to several reasons, with the most recent one being a government shutdown in the U.S.
Read the full story onCCN.com
. || Vinny Lingham Forecasts Bitcoin Price for Two Months Trading Between $3,000 and $5,000: Vinny Lingham, CEO ofblockchainidentity platformCivic, has revised down his short-termBitcoin(BTC) price prediction on Jan. 11, telling financial news networkCheddarthat thecryptocurrencycould fall below $3,000.
In an interview, Lingham, who hadpreviously forecastBTC/USD to trade between $3,000 and $6,000 in the coming months, said the market would either “breakout or breakdown.”
“The reality is it’ll probably trade sideways between $3,000 and $5,000 for another month or two while it’s trying to find which way to go,” he said, adding:
“When it finds that direction, there’ll be a breakout or a breakdown.”
Lingham was speaking after Bitcoinlost its supportat $4,000 to drop around $250 in a matter of minutes on Thursday.
The renewed volatility had followed several days offlat movements, cancelling out gains made earlier in the week.
Altcoinshad reacted more intensely to Bitcoin’s move, the top twenty assets by market cap losing up to 11.3 percent in the 24 hours to press time on Friday.
Civic’s own CVC token, like many from the initial coin offering (ICO) boom of 2017, currently tradeswell belowitsissue price, but it is not a problem for the company, Lingham told Cheddar.
“We’ve been very mildly affected,” he said, “we took our ICO proceeds and held them in cash, so we’ve been less affected than everyone else in the space — the people who held onto Bitcoin and Ethereum at very high prices.”
Other sources warning about incoming Bitcoin lows meanwhile include veteran traderTone Vays, who in Decemberclaimeda bottom could fall below $1,300.
• Wall Street’s Bill Miller: 'Bitcoin Has Potential to Be Worth a Lot or Worth Zero'
• Fred Wilson: Crypto No Safe Haven in 2019, Investors More Wary of Startup Sector
• Bitcoin Falls Under $3,800 as Top Cryptocurrencies Remain Mostly in Red
• 2018 Sees Bitcoin’s Lowest Average Daily Price Change: Report || JPMorgan Takes Another Shot at Bitcoin, Claims Mining Isn’t Worth the Value of the Cryptocurrency: ByCCN.com: A report by JPMorgan suggests that for over four weeks during the fourth quarter, bitcoin’s market price was lower than its mining costs on average.
According to the JPMorgan analysts, the cost of mining bitcoin during Q4 was averaging about $4,060 around the world,Bloombergreports. According to them, starting late November when the price of bitcoin went below $4,000, it became uneconomical to mine bitcoin.
Currently, bitcoin is trading at around the $3,650 level after falling off the $3,700 resistance level which it touched earlier.
Read the full story onCCN.com
. || Pending Approval: Bakkt’s Futures Contract Is Set to Be Launched: Bakkt ‘s Bitcoin (USD) Daily Futures Contract, the physically-settled daily futures contract, is quite close to getting the green light from the authorities, according to reports on the Wall Street Journa l (WSJ). The exchange has been working with the Commodity Futures Trading Commission (CFTC) to ensure its business plan is compliant with the agency’s regulatory framework. A couple of areas that stood out are the exemptions for the exchange to keep customer’s bitcoins, cybersecurity issues that could crop up and the financial liability, in the event of a hack. Once the CFTC decides to approve the project, the public has 30 days to weigh in with comments. Bakkt was developed by Intercontinental Exchange, the parent company of the New York Stock Exchange (NYSE), as a regulated trading platform for cryptocurrencies, where retail and institutional investors can invest in products that are compliant with regulators in the U.S. Bakkt’s first product is a futures contract that is poised to increase the liquidity of Bitcoin. The Contract was expected to launch on December 12, before it was rescheduled for January 24, 2019. At the time, Bakkt CEO Kelly Loeffler had cited the interest and the “work required to get all the pieces in place” as reasons for the delay. ICE Futures U.S., Inc. will list the new Bakkt Bitcoin (USD) Daily Futures Contract for trading on trade date Thursday, January 24, 2019, subject to regulatory approval. The new listing timeframe will provide additional time for the customer and clearing member onboarding prior to the start of trading and warehousing of the new contract. Seen as a game changer for the crypto sector, Bakkt’s futures are expected to provide the platform for increased participation from Wall Street. Bakkt will physically deliver Bitcoin to investors of the futures contract on Bakkt, which will impact the supply and price of bitcoin. Recognized crypto trader Alex Krüger went as far as saying that, when it launches, Bakkt’s futures, will lead a bull run for Bitcoin to the first quarter of 2019. While the approval of Bakkt’s contract would lead to growth for the market, the disapproval of VanEck’s bitcoin exchange-traded fund could crash prices. Story continues “Possible outlook for BTC: First, the bull run on BAAKT & renewed ETF approval narrative early 2019. Second, ETF denied Feb/27, massive crash, goodbye 6k, hello 4k, cleanse all weak hands Lastly, having 2020 narrative and re-adjustments lead to a sustained bull run for the rest of 2019 & 2020.” While Krüger is optimistic about the impact of Bakkt, others like securities attorney Jake Chervinsky believes the market could be overestimating the potential of Bakkt’s futures. “In the minds of many, Bakkt’s launch has become a full-fledged narrative for when & how the bear market will end. It plays the same role as bitcoin ETFs as a trusted vehicle to bring that sweet institutional money into the space, but without all the trouble of SEC approval,” Chervinsky said. However, while Bakkt seems to have everything under control regarding the launch of its futures contract (Phase 1), his primary worry is on the adoption of cryptocurrencies by major merchants like Starbucks and Microsoft (Phase 2), which “Bakkt hasn’t said what it is or when it’s coming.”For Loeffler, regulation comes first before merchant adoption. She told the WSJ: Once digital assets have more trust and regulation, people will be more comfortable using digital assets as currency. Images from Shutterstock. The post Pending Approval: Bakkt’s Futures Contract Is Set to Be Launched appeared first on CCN . || Bitcoin And Ethereum Daily Price Forecast – Ethereum Breaches $150 Handle While Bitcoin Moves Near $4000 Mark: A new year begins and with it, renewed expectations that the dominant bearish trend of 2018 will end soon. 2018 is now referred to as the year of correction in the cryptocurrency market. Digital assets led by Bitcoin trimmed most of the gains accrued towards the end of 2017 and early 2018. Moreover, the market value declined significantly by more than $700 billion to the current $129 billion. In addition to that, Bitcoin formed new 2018 lows after it broke below the major support areas at $6,000 and $5,000 respectively. Investors are now hoping that January will see bitcoin & altcoin recover ground over possible fund flow from institutional investors. There are various factors that are believed to be the main driving forces for the impending bullish reversal.
For instance, the approval of a Bitcoin exchange-traded fund (ETF) will see fresh influx of money from traditional and institutional investors. Improvement of the regulation environment will also increase confidence in the market. Another factor is mass adoption; this is directly linked to Bitcoin gaining more real world use cases. Bitcoin recently broke out of a long-term descending channel. This move reversed the bear trend that had been dominating the market for a while now. While the retracement made it above $4,000, buyers lacked the power to keep the price above this level paving the way for a bear correction that recently tested $3,650. As of writing this article, BTC/USD pair is trading at $3917 up by 3.65% on the day having gained a bullish boost when trading session began post new year holiday and has since maintained consolidative price action above $3840 mark hinting at signs of bullish rally.
While major crypto currencies Bitcoin & Ripple failed to take advantage of recent bullish rally, Ethereum has managed to make a short work of same. Ethereum has been hottest crypto commodity since last week of December 2018 and is currently on pace to regain the second place in terms of market cap as largest crypto currency which it previously lost to ripple. Since early European market hours, ETH/USD jumped nearly 14% from intra-day lows and has breached resistance at $150 level which makes it the most traded legacy crypto currency. The strength of Ethereum’s upward movement coincides with the upcoming launch of Constantinople, the Hard Fork that promises to improve the performance of the network. The market highly anticipates this implementation, due on January 16, and until then the money will continue to run to Ether making it most valuable altcoin in short term.
Thisarticlewas originally posted on FX Empire
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• Natural Gas Price Forecast – natural gas markets continue to show signs of weakness || Bitcoin Falls Under $3,600 Again as Most Top Cryptos See Mild Losses: Sunday, Jan. 27 — most of the top 20cryptocurrenciesare reporting slight losses on the day at press time. Bitcoin (BTC) is trading under $3,600 again, according toCoin360data.
Market visualization fromCoin360
At press time, Bitcoin is down nearly 2 percent on the day, trading at around$3,562, according to CoinMarketCap. Looking at its weekly chart, the current price is about $100 lower than $3,655, the price at which Bitcoin started the week.
Bitcoin 7-day price chart. Source:CoinMarketCap
Ripple (XRP) has lost over 2.5 percent of its value in the 24 hours to press time and is currently trading at around $0.308. On its weekly chart, the current price is lower than $0.325, the price at which XRP started the week.
Ripple 7-day price chart. Source:CoinMarketCap
Second-largest altcoin Ethereum (ETH) has also seen its value decrease by nearly 2.5 percent over the last 24 hours. At press time, ETH is trading at $114, having started the day about 2 dollars higher. On the weekly chart, Ethereum’s current value is lower than $121, the price at which the coin started the week.
Ethereum 7-day price chart. Source:CoinMarketCap
Among the top 20 cryptocurrencies, the only ones experiencing growth areTron, which is up nearly 9 percent, and Binance Coin (BNB), which is up over 2.5 percent on the day at press time.
Thecombined market capitalizationof all cryptocurrencies — currently equivalent to about $119.1 billion — is slightly lower than $121.6 billion, the value it reported one week ago.
Total crypto market cap 7-day chart. Source:CoinMarketCap
As Cointelegraph recentlyreported, a link to aphishingLocalBitcoinsclone website had been placed on the official LocalBitcoins forum earlier this week, but the attack has purportedly since been stopped.
Also this week, crypto critic Nouriel Roubinicommentedat a blockchain conference that the technology is “no better than an Excel spreadsheet.” Cointelegraph alsoreportedon recent comments fromAppleco-founderSteve Wozniakthat he sold all of his BTC holdings at thepeakof $20,000 in December 2017.
• Bitcoin Stays Over $3,600 as Most Top Cryptos See Slight Gains
• Bitcoin Hovers Over $3,550 as Top Cryptos See Slight Losses
• Bitcoin Approaches $3,700 as Top Cryptos Report Gains
• Bitcoin Hovers Under $3,600 as Top Cryptos Remain Mostly Stable || Dow Futures, Bitcoin Price Recover as Markets Claw Back Early-Week Losses: bitcoin price dow jones climb By CCN.com : The US stock market appears to be having second thoughts about yesterday’s colossal sell-off, as Dow Jones futures are implying triple-digit gains at the opening bell. The cryptocurrency market is also trending up, with some analysts arguing that the bitcoin price has found a bottom. Dow Futures Rise as Much as 200 Points after Tuesday Plunge As of 8:36 am ET, Dow Jones Industrial Average futures had climbed by 181 points or 0.74 percent, implying gains of 193.52 points at the open. S&P 500 and Nasdaq futures had also made gains, with the Dow’s two sister indices adding 0.43 percent and 0.46 percent, respectively. [caption id="attachment_158971" align="aligncenter" width="1024"] dow jones futures s&P 500 nasdaq Dow Jones Industrial Average (blue), S&P 500 (red), and Nasdaq (orange) futures all made significant gains ahead of the market open.[/caption] All three indices had suffered enormous losses on Tuesday as the US stock market resumed trading following the Monday holiday. The Dow closed 301.87 points in the red after plunging more than 400 points earlier in the day, reducing the index to 24,404.48 for a single-day loss of 1.22 percent. The S&P 500 and Nasdaq fell even further, with the former slipping 1.42 percent to 2,632.90 and the latter careening down 1.91 percent to close at 7,020.36. Read the full story on CCN.com .
[Random Sample of Social Media Buzz (last 60 days)]
Loving the site. Any recommendations for $200 price range boxes 25-50? I don't have any familiarity with their stock. Thank you sir! || Total Market Cap: $142,780,303,572
1 BTC: $4,215.49
BTC Dominance: 51.49%
Update Time: 24-12-2018 - 08:00:09 (GMT+3) || Buy GHT token here:
https://www.etherflyer.com/trade.html?pairs=GHT-ETH …
GHT explainer https://youtu.be/rCjYfHoMmPQ
#Telegram group:
https://t.me/Groovytoken
#Cannabis #crypto #Forex $btc #ethereum #ICO
#etherflyer $ETH
HYPE _22 by || What is your plan to Capitalize on Bitcoin?
http://bit.ly/2AOCrVl pic.twitter.com/H1zrR121Qz || Bitcoin Whale Grayscale Adds Stellar Lumens to Its Lineup Grayscale Investments, the world’s largest cryptocurrency investment firm, has added Stellar Lumens to its lineup of crypto investment funds. The addition brings its nest of cryptos to nine digita… http://bit.ly/2U3nX9U pic.twitter.com/B06mjHyXkG || Saudi-Emirati Coordination executive committee to launch pilot cryptocurrency http://twib.in/l/kgMdkrgbzAMz #blockchain #bitcoin #cryptopic.twitter.com/1zV9r05YcZ || kindleで「マンガ業界?ああ最悪だね」を販売しております。
支援用として欲しい物リスト
食材/http://urx2.nu/EFif 機材/http://urx2.nu/EFik
BTC 3Bfd9z4L598MFF6bDJC7azfYH1BNxEYMAb || @vince__KE @KieuTrongVan @bakerloveandy @DeNutzSoul_SA @aqui1216_
: #crypto #blockchain #pos #masternode #cryptonews #btc #coins || 02/16 08:00現在
#Bitcoin : 393,900円↑
#NEM #XEM : 4.5791円↑
#Monacoin : 134円→
#Ethereum : 13,300円→
#Zaif : 0.1403円↑ || リリースされたBOOKSは本当に凄いぞ。
今後、東京五輪終わったあとの日本経済は落ち込む恐れがある。
日本円だけ持っておくのは本当に危険。
それをBOOKSでドルや円、仮想通貨で分散保有しながら、LTDでドルの資産運用したり、TRADE BOOKでBitcoinを増やせば良い。
|
Trend: up || Prices: 3673.84, 3915.71, 3947.09, 3999.82, 3954.12, 4005.53, 4142.53, 3810.43, 3882.70, 3854.36
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on 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)]
Tom Brady Is Launching an NFT Platform: Tom Brady is jumping on the NFT bandwagon. The seven-time Super Bowl champion said he is launching an NFT platform, alongside an array of big names from the sports and entertainment industries.
See:What Is a Non-Fungible Token and Why Are They Booming?Find:Smart Crypto Alternatives to Bitcoin
The platform, Autograph, is a “first-of-its-kind, experience-driven NFT platform that brings together the most iconic brands and biggest names in sports, entertainment, fashion and pop culture to create unique digital collectibles,” according to its website, whose goal is to “experience, collect and enjoy.”
Autograph’s board and advisors include Jon Feltheimer, CEO, Lionsgate; Steven Galanis, CEO, Cameo; Dawn Ostroff, CCO/CABO, Spotify; Peter Guber, owner, GS Warriors, LA Dodgers; Michael Rapino, CEO, Live Nation; Jason Robins, CEO, DraftKings; Paul Liberman, co-founder, DraftKings; Matt Kalish, president, DraftKings N.A.; and Peter Mattoon, executive chairman, founder, SCS Financial.
“Autograph will bring together some of the world’s most iconic names and brands with best-in-class digital artists to ideate, create and launch NFTs and groundbreaking experiences to a community of fans and collectors,” Dillon Rosenblatt, co-founder and CEO of Autograph, told CNN.
See:‘Technoking’ Elon Musk Sells NFT About NFTsFind:Cam Newton, Tom Brady and the Top-Selling NFL Jerseys of 2020
Non-fungible tokens are digital assets that represent a wide range of unique tangible and intangible items, from collectible sports cards to virtual real estate and even digital sneakers, CoinDesk explains. They are recorded on a blockchain, a distributed ledger that is immutable, verifiable and decentralized.
NFTs have been gaining a lot of traction — and dollars — lately, notably with Vignesh Sundaresan, also known as MetaKovan, who bought Christie’s first NFT for $69.34 million. Sundaresan told CNBC he was prepared to bid even higher.
See:Here’s How Rich Every NFL Team IsFind:Biggest Contract Busts in NFL History
Also in March, Tesla’s Elon Musk sold one of his tweets on NFTs as an NFT on the Valuables platform. “I’m selling this song about NFT as a NFT,” he tweeted at the time.
The move followed that of Twitter CEO Jack Dorsey, who tweeted a link to the Valuables platform, where his first tweet from March 21, 2006, “just setting my twttr,” was up for bidding.
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This article originally appeared onGOBankingRates.com:Tom Brady Is Launching an NFT Platform || Mark Cuban Invests in NFT Data Aggregator CryptoSlam: Billionaire investor Mark Cuban of Shark Tank fame has made a strategic investment in NFT data aggregator CryptoSlam through his venture capital entity Radical Investments.
According to Cuban, “CryptoSlam.io is the go-to destination for tracking all things NFT.” In theannouncement, he highlights top-selling NFT collections CryptoPunks and NBA Top Shots. Cuban is the owner of the Dallas Mavericks, an NBA team.
“CryptoSlam has become the industry leader in tracking transactions for NFTs,” Cuban continued. “And that dominance is only growing. I’m excited to be part of the amazing company Randy is putting together.”
Cuban is referring to Randy Wasinger, founder and CEO of CryptoSlam. Wasinger started developing the website in 2018. He did this primarily as a way to organize and track NFTs from MLB Champions. These were the firstNFTs to be officially licensedby a major professional sports league.
Wasinger said it was life-long affinity for sports cards and memorabilia that drew him to the collectability of NFTs. He realized there needed to be a way to organize NFT data, “in a way that made sense to both collectors and those who saw NFTs as an investment opportunity.”
After launching the first version of CryptoSlam in early 2019, an enthusiastic response convinced him that “we could be on to something special”.
Currently, CryptoSlam tracks over 50 differentNFT projects over three different blockchains. Additionally, many major media outlets covering the NFT industry use CryptoSlam-aggregated data. For instance, CNBC, Forbes, the New York Times, among others. Wasinger said:
“Mark’s investment comes at the perfect time for us, as we scale up to support the accelerating growth of the NFT industry.”
Strategic partners Aloomii Inc., Troon Technologies, and GeoAds LLC. also made additional investments.
Cuban has become one of the more vocal advocates for cryptocurrencies among the established business and investment communities. Although skeptical of bitcoin (BTC) in the past, he has recently come out on several fronts in support of blockchain technology.
While his basketball team has accepted bitcoin as payment as early as 2015, heannouncedrecently that they have become the largest Doge coin merchants in the world, after processing over 20,000 DOGE transactions.
In a fireside chat with Binance CEO Changpeng “CZ” Zhao, hediscussedinvestments he made in different decentralized finance (DeFi) protocols.
Earlier, helaudedNFTs as “game-changing” on the Defiant podcast. During that podcast, he also spoke of blockchain’s parallels with the early internet, where Cuban made his fortune. Additionally, he said if he were starting a business today, he wouldutilizeblockchain technology. || Defense Stock Roundup: LMT, Bell-Boeing Win Deals, BA Reveals Q1 Delivery Numbers: Over the past week, the U.S. defense contractors witnessed only a handful of contract flows from the Pentagon, which might not have been enough to offer sufficient stimulus to their stock price. The U.S. stock market delivered a mixed performance as price hikes driven by stellar results of the big banks were offset by price lost by cryptocurrency and blockchain-related firms in the wake of Bitcoin’s slide.
The broader market’s fluctuation can also be expected to have its impact on defense stocks. Consequently, major indices of the Aerospace-Defense space ended on not-a-very-encouraging note over the trailing five trading sessions. The S&P 500 Aerospace & Defense (Industry) index inched up 0.01%, while the Dow Jones U.S. Aerospace & Defense index rose 0.07% in the aforementioned time period.
Among the past week’s highlights, defense majors namelyLockheed MartinLMT,Bell-Boeing— a joint venture between Bell Helicopter fromTextronTXT andBoeingBA — secured a number of notable deals from the Department of Defense’s daily funding session. Moreover, Boeing released its Q1 delivery figures whileTeledyneTDY gave an update about its pending acquisition ofFLIR SystemsFLIR.
1.Lockheed Martinclinched a modification contract worth $447.2 million for the production and delivery of 12 MH-60R aircraft, which will be supplied to the government of the Republic of Korea. The deal has been awarded by the Naval Air Systems Command, Patuxent River, MD.The contract is scheduled to be completed by December 2024. Majority of the work related to this deal will be executed in Owego, NY (read more: Lockheed Martin Wins $447M Deal to Build MH-60R Aircraft).2.Bell-Boeingsecured a contract worth $143.2 million to provide the logistics and repair support for MV-22B, CMV-22 (Navy) and CV-22 (Air Force) Osprey components. Work related to the deal is scheduled to be completed by December 2025.The contract was awarded by the Naval Supply Systems Command Weapon Systems Support, Philadelphia, PA (read more: Bell-Boeing Wins $143M Deal to Support V-22 Family of Jets).3.Boeinghas revealed delivery figures for its commercial and defense operations for the first quarter of 2021. The figures reflects a 54% surge in commercial shipments from the first quarter of 2020. Defense shipments rose 7.7%.Boeing reported commercial deliveries of 77 airplanes in first-quarter 2021 compared with 50 aircraft delivered in the first quarter of 2020. The rise in the year-over-year delivery figure could primarily be attributable to the return of the 737 MAX into service in November 2020, thus boosting the company’s first-quarter plane deliveries.In its defense and space business, Boeing’s deliveries totaled 42 in first-quarter 2021, which witnessed a slight improvement from 39 dispatched in the prior-year period (read more: Boeing Reports Solid Q1 Commercial & Defense Deliveries).4.Teledynehas announced that it received antitrust clearance for the pending acquisition of FLIR Systems from regulatory authorities in Poland and South Korea. The company also declared that the U.S. Securities and Exchange Commission declared effective the Form S-4 Registration Statement concerning the pending acquisition of FLIR Systems. Both Teledyne and FLIR Systems have scheduled special meetings for each company's respective stockholders to approve matters related to the acquisition on May 13, 2021.
Over the past five trading sessions, the defense biggies put up a mixed show. While most of the stocks made improvement, Boeing andRaytheon TechnologiesRTX took a dip.
In the last six months, the industry's performance was impressive. Textron gained the most with 59.7% surge in share price, followed by Boeing.The following table shows the price movement of the major defense players over the past five trading days and during the last six months.
[{"Company": "LMT", "Past Week": "0.99%", "Last 6 Months": "1.37%"}, {"Company": "BA", "Past Week": "-1.66%", "Last 6 Months": "48.30%"}, {"Company": "GD", "Past Week": "0.80%", "Last 6 Months": "29.31%"}, {"Company": "RTX", "Past Week": "-0.09%", "Last 6 Months": "26.67%"}, {"Company": "NOC", "Past Week": "1.91%", "Last 6 Months": "9.55%"}, {"Company": "TXT", "Past Week": "0.27%", "Last 6 Months": "59.72%"}, {"Company": "LHX", "Past Week": "1.25%", "Last 6 Months": "20.85%"}]
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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 reportFLIR Systems, Inc. (FLIR) : Free Stock Analysis ReportThe Boeing Company (BA) : Free Stock Analysis ReportLockheed Martin Corporation (LMT) : Free Stock Analysis ReportTextron Inc. (TXT) : Free Stock Analysis ReportTeledyne Technologies Incorporated (TDY) : Free Stock Analysis ReportRaytheon Technologies Corporation (RTX) : Free Stock Analysis ReportTo read this article on Zacks.com click here. || State Street May Start Trading Crypto on Platform It’s Helping Build: Editor’s note (April 8, 14:20 UTC): An earlier version of this article overstated State Street’s involvement in the project, based on phone conversations with a spokesperson for the bank and with the CEO of its partner company. State Street later clarified it is “evaluating” trading on the new platform, but has not committed to doing so. State Street, the second-oldest bank in the U.S. with $3.1 trillion in assets under management, is providing the infrastructure for a new bank-grade trading platform for digital assets set to go live mid-year — and could eventually use the system for trading itself. Announced Thursday, State Street’s Currenex trading technology arm is working with London-based Pure Digital, infrastructure provider to the foreign exchange trading world, to create an institution-focused digital currency trading platform. Related: Ether’s Record Run Came With Less Support Than Bitcoin’s, Blockchain Analysis Shows The two companies said they plan to further explore the digital currency trading space. “Currenex is thrilled to leverage our experience and expertise in the FX and digital asset trading marketplace to provide Pure Digital with robust technology and infrastructure for this exciting digital currency trading initiative,” David Newns, the global head of Execution Services for State Street Global Markets, said in a statement. Asked if State Street would be using the platform to do its own crypto trading, Lauren Kiley, CEO of Pure Digital, told CoinDesk over the phone, “That is the intention – State Street is one of the many banks that will be using this platform and we are looking at midway through 2021, although no date is set.” Through a spokesperson, Newns later clarified that State Street is “evaluating” the use of the platform for its own trading, but “we have no statement of commitment.” Bank bull run Institutions appear to be driving the current crypto bull run, a key difference from the retail-driven expansion of the space back in 2017. Big banks including BNY Mellon , Goldman Sachs and Morgan Stanley are now making moves, and eyes have been on State Street, as one of the biggest U.S. custody providers and trading operations, to see when/if it would move into crypto. Story continues Related: Robinhood Says 9.5M Customers Traded Crypto in Q1, Up From 1.7M in Q4 “The digital currency world needs to grow up and mature,” Campbell Adams, founder of Pure Digital, said in an interview, adding: “It needs large-balance financial institutions involved in the manufacturing process of price. The primary market doesn’t really exist. There’s a lot of disparate exchanges out there with different rules of engagement and systems. And this manifests itself in very fragmented market data.” The plan is to transpose FX infrastructure to the crypto space via a bank-led consortium, and a platform that includes FX-industry standard APIs and best execution, Kiley said. “State Street has agreed to explore the digital asset space trading space with us, and is also working with us on the tech,” Kiley told CoinDesk in an interview. “We’ve got a couple of banks that have signed with us and several others in the pipeline.” Unlike a crypto exchange, Pure Digital is building an over-the-counter (OTC) offering with bilateral credit lines and full transparency, so that top-tier banks can see exactly with whom they’re dealing and can turn on and off counterparties as they choose, Kiley added. “All these banks are waking up to crypto and can’t ignore it anymore, “ Kiley said. “Either they find a way to get involved and provide services to meet client demand or they will start to lose relevancy over time.” Related Stories State Street May Start Trading Crypto on Platform It’s Helping Build State Street May Start Trading Crypto on Platform It’s Helping Build || Market Wrap: Bitcoin Near $58K, Reverses Two-Day Losses Despite Lower Trading Volume: • Bitcoin(BTC) trading around $57,775.92 as of 20:00 UTC (4 p.m. ET). Climbing 2.86% over the previous 24 hours.
• Bitcoin’s 24-hour range: $55,639.58-$58,179.66 (CoinDesk 20)
• BTC trades above its 10-hour and 50-hour averages on the hourly chart, a bullish signal for market technicians.
After two days of losses, bitcoin ended Thursday in the green after markets closed in the U.S.
The gains came amid new signs of growing mainstream adoption of bitcoin and other cryptocurrencies.
State Street, the second-oldest bank in the U.S. with $3.1 trillion in assets under management,announcedit is providing the infrastructure for a new bank-grade trading platform for digital assets set to go live mid-year – and that it might eventually use the system itself.
Related:All About Bitcoin - April 16, 2021
Also,BNY Mellon, the world’s largest financial custodian, would be the service provider for a proposed bitcoin exchange-traded fund (ETF) offered by First Trust Advisors and Anthony Scaramucci’s SkyBridge Capital.
But spot trading volume has not been able to match the rising prices, continuing to drop Thursday on the eight U.S.-focused crypto exchanges tracked by CoinDesk.
Trading volume has been low for bitcoin since the beginning of April, while in March, according to CryptoCompare’s monthly report, the volume on top spot exchanges increased 5.9% from February levels to $2.5 trillion.
• Ether(ETH) trading around $2,058.73 as of 20:00 UTC (4 p.m. ET). Climbing 3.87% over the previous 24 hours.
• Ether’s 24-hour range: $1,950.89-$2,076.81 (CoinDesk 20)
• Ether trades above its 10-hour and 50-hour averages on the hourly chart, a bullish signal for market technicians.
While ether’s been trading mostly above $2,000 since it peaked above $2,100 in early April, an analystargued ether’s latest bull runwas supported by a more scant demand from buyers compared with bitcoin.
Related:The Hash - April 16, 2021
Philip Gradwell, chief economist at Chainalysis, said on CoinDesk TV’s “First Mover” show that “relatively little” ether was bought at prices above $1,850 and even less was bought at $2,000 or above.
Read More:Ether’s Record Run Came With Less Support Than Bitcoin’s, Blockchain Analysis Shows
“The persistence of a small, but very bullish, cohort of ether buyers supports my concern that the highest ether prices tend to have a narrow base of support, at least compared to bitcoin,” Gradwell wrote in his weekly newsletter.
Other digital assets on theCoinDesk 20are mostly higher Thursday. Notable winners as of 20:00 UTC (4:00 p.m. ET):
• xrp(XRP) + 9.58%
• tezos(XTZ) + 9.55%
• orchid(OXT) + 9.11%
• kyber network(KNC) + 7.37%
• eos(EOS) + 6.93%
Notable loser:
• omg network(OMG) – 4.96%
Equities:
• Asia’s Nikkei 225 closed lower by 0.073%.
• The FTSE 100 in Europe was up by 0.83%.
• The S&P 500 in the United States closed in the green 0.42%.
Commodities:
• Crude oil (WTI): -0.05% to $59.74/barrel.
• Gold: +1.11% to $1755.83/ounce.
Treasurys:
• The 10-year U.S. Treasury bond yield dipped to 1.636%.
• Market Wrap: Bitcoin Near $58K, Reverses Two-Day Losses Despite Lower Trading Volume
• Market Wrap: Bitcoin Near $58K, Reverses Two-Day Losses Despite Lower Trading Volume || HIVE Completes Share Investment in DeFi Technologies: 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, BC / ACCESSWIRE / April 21, 2021 / HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (OTCQX:HVBTF) (FSE:HBF) (the "Company" or "HIVE") is pleased to announce that, further to its announcement on March 25, 2021, it has completed the share swap transaction (the "Transaction") with DeFi Technologies Inc. (NEO:DEFI, GR:RMJR, OTC: RDNAF) ("DeFi Technologies"), pursuant to which HIVE will receive 10,000,000 common shares of DeFi Technologies, representing approximately 5% of the existing outstanding common shares of DeFi Technologies in exchange for 4,000,000 common shares of the Company, representing approximately 1% of the Company's issued and outstanding common shares. Completion of the transaction is conditional on the approval of the TSX Venture Exchange. In addition, HIVE and DeFi Technologies have created a partnership surrounding the "decentralized finance" (DeFi) ecosystem with specific applications around Ethereum and Miner Extractable Value (MEV). The new partnership, which follows months of discussions, will provide HIVE with a strategic stake in DeFi Technologies and a broader partnership surrounding the DeFi ecosystem with a specific focus on the Ethereum based MEV space and developments surrounding it. The boom in Ethereum has 3 powerful drivers, and DeFi has been a substantial part of the additional fees HIVE has received for mining Ethereum on the cloud. The other are Stablecoins and more recently non-fungible tokens or NFT's. We believe DeFi is the most significant demand driver and our investment in DeFi Technologies gives our shareholders a double benefit. MEV refers to the amount of profit miners can extract from reordering and censoring transactions on the blockchain. It has become an important issue over the past year as the DeFi space has grown from US$3B to US$71B in market capitalization. Of the $347.3M of Extracted MEV, 88% comes from DeFi activities. As can be seen from data by Coin Metrics, over half of all ETH miner revenue currently comes from transaction fees. By partnering together to take on these activities, individuals get a more capital efficient market to play in, while distributing greater returns to miners for acting more altruistic. Story continues DeFi and new applications are focused on disrupting financial intermediaries. DeFi reached new heights over the past 12 months as dozens of projects launched and large amounts of capital flowed in. The majority of DeFi apps use Ethereum's ERC token standard to create new coins. DeFi has pushed Ethereum prices to new highs this year and it is accelerating innovation and experimentation. It is estimated that more than $1 trillion in transactions passed through the Ethereum ecosystem in 2020, putting it roughly on par with payments giant, PayPal. This mega trend in DeFi is a big tailwind for Ethereum demand and we believe we are in the early innings. Bitcoin was up 300% in 2020 while Ethereum surged 470% due to the demand from DeFi app's like Stablecoins to Decentralized Exchanges known as DEX's. HIVE is the largest public crypto mining company mining Ethereum and we wish to invest in the DeFi sector and will consider distributing our shares as a dividend to HIVE Shareholders over the next year. Blockchain analysis firm Chainalysis says DeFi is growing at ‘warp speed' and DeFi's explosive growth has much further to grow. Since most DeFi applications are built on top of Ethereum, the world's second largest cryptocurrency platform and DeFi is a smart contract, the future looks very attractive with DeFi becoming a sustainable demand driver for Ethereum prices. Please see our YouTube channel for more insightful and timely information about DeFi and its relationship with Ethereum. About HIVE Blockchain Technologies Ltd. HIVE Blockchain Technologies Ltd. is a growth oriented, TSX.V-listed company building a bridge from the blockchain sector to traditional capital markets. HIVE owns state-of-the-art green energy-powered data centre facilities in Canada, Sweden, and Iceland which produce newly minted digital currencies like Bitcoin and Ethereum continuously on the cloud. Our deployments provide shareholders with exposure to the operating margins of digital currency mining as well as a portfolio of crypto-coins. About DeFi Technologies Inc. DeFi Technologies Inc. is a Canadian company that carries on business with the objective of enhancing shareholder value through building and managing assets in the decentralized finance sector. 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 the outcome of the strategic partnership with DeFi Technologies, the potential growth of decentralized finance, 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, if the strategic partnership with DeFi Technologies is not as successful as the Company hopes that it will be; decentralized finance does not become as widely adopted as expected; the growth in decentralized finance does not occur; 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 Filing Statement of the Company 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 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 the inherent uncertainty therein. SOURCE: Hive Blockchain Technologies Ltd View source version on accesswire.com: https://www.accesswire.com/641509/HIVE-Completes-Share-Investment-in-DeFi-Technologies || Amazon Buying MGM for $8.45B; Retailers Stomp Comps: Wednesday, May 26, 2021 Market indexes look to be continuing their turnaround begun Tuesday afternoon, following a slight sell-off mid-day yesterday on weaker Consumer Confidence and New Home Sales. After solid gains in international markets while we were sleeping, the Dow appears to be headed 60 points higher by the open, the S&P 500 +10 and the Nasdaq +40 points. Can they keep their gains today? The big news this morning is the announcement — whispered about in the last week or so, but now for real — Amazon AMZN is purchasing MGM Studios for $8.45 billion. The studio, which was bought by private investors after coming out of bankruptcy in 2010, is home to the valuable James Bond film franchise. This deal follows that of the Disney DIS /WarnerMedia deal inked last week. The whisper number for the Amazon buy had been roughly $9 billion. Of course, this event is subject to regulatory approval, and anyone who has been paying attention to Amazon over the past couple years recognizes Capitol Hill has had its problems with the company’s gargantuan size. This deal certainly won’t put any lawmakers at ease. But it appears as if Jeff Bezos’ company has realigned its original content development business after winding down Amazon Studios three years ago. Dick’s Sporting Goods DKS has demolished expectations in its Q1 earnings report released this morning: $3.79 per share flew past the $1.04 per share in the Zacks consensus, and a completely different orbit than the year-ago quarter’s -$1.21 per share. Revenues of $2.92 billion in the quarter stomped the $2.22 billion expected, +119% year over year. Same-store sales grew 115% year over year, with e-Commerce accounting for 14% growth and Digital Sales +20%. Shares are up 9% in early trading. For more on DKS’ earnings, click here. Abercrombie & Fitch ANF also easily topped expectations on both earnings and sales, swinging to a profit on the bottom line to 67 cents per share from -39 cents. Revenues of $781.4 million swept way past the $688.4 million expected. Digital Sales now make up 52% of A&F’s total sales. The company’s stock has already gained 87% year to date, and is up 7% on the earnings release. For more on ANF’s earnings, click here. Capri Holdings CPRI , the retail conglomerate and parent company of high-end brand names like Versace and Jimmy Choo, also swung to a profit in its fiscal Q4 earnings report this morning: +38 cents per share, where analysts were expecting -$0.01. Sales in the quarter also surpassed estimates to $1.2 billion in the quarter, from $1.03 billion expected. It’s the fourth-straight earnings beat for the retailer, and shares are up 26% year to date. For more on CPRI’s earnings, click here. Questions or comments about this article and/or its author? Click 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 Amazon.com, Inc. (AMZN) : Free Stock Analysis Report The Walt Disney Company (DIS) : Free Stock Analysis Report Abercrombie & Fitch Company (ANF) : Free Stock Analysis Report DICKS Sporting Goods, Inc. (DKS) : Free Stock Analysis Report Capri Holdings Limited (CPRI) : 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 || ETF Provider Teucrium Trading Files for a Bitcoin Futures ETF: Add a bitcoin futures exchange-traded fund (ETF) to the list of cryptocurrency-focused ETF applications before the U.S. Securities and Exchange Commission (SEC) right now. ETF provider Teucrium Trading filed an application with the SEC to launch an ETF that would trade on NYSE Arca and would track a benchmark of bitcoin futures contracts. While the SEC has yet to approve the application of any bitcoin ETF, Teucrium could be hoping the Teucrium Bitcoin Futures Fund (BCFU) would have an advantage over applications that propose ETFs that are physically backed by bitcoin. Related: Gensler Says SEC Should Be ‘Ready to Bring Cases’ Involving Crypto Bitcoin ETF proponents have been hoping newly confirmed SEC Chair Gary Gensler will oversee the approval of an ETF, but recent comments from SEC staff that called bitcoin highly speculative may mean the regulator is not yet ready to support such a vehicle. Related Stories Som Seif: Rational for SEC to Approve Crypto ETFs Research Shows How SEC Actions Move Markets Musk Has Doge on a Leash. Is He a Manipulator? View comments || Bitcoin plunges: A bust or a buy?: By Tommy Wilkes, Sujata Rao and Gertrude Chavez-Dreyfuss NEW YORK/LONDON (Reuters) -Cryptocurrencies that seemed to be defying gravity just weeks ago came back down to earth with a bump on Wednesday after a roller-coaster ride which could undermine their potential as mainstream investments. The two main digital currencies, bitcoin and ether, fell as much as 30% and 45% respectively, but significantly pared losses after two of their biggest backers - Tesla Inc chief Elon Musk and Ark Invest's Chief Executive Cathie Wood - indicated their support for bitcoin. While many analysts thought the explosion in crypto interest this year was not sustainable, the trigger for the shake-out was China's move on Tuesday to ban financial and payment institutions from providing cryptocurrency services. It also warned investors against speculative crypto trading. At one point on Wednesday nearly $1 trillion was wiped off the market capitalization of the entire crypto sector. In early afternoon trading, their market cap was $1.8 trillion, according to data tracker CoinGecko.com. "It's not just a small segment of the world that is affected by cryptocurrencies; it's now mainstream," said Tom Plumb, portfolio manager of the Plumb Balanced Fund. In other markets, a move into safe-haven U.S. Treasury securities initially knocked yields lower, although yields rose after the release of minutes of the Federal Reserve's latest meeting, while U.S. stock indexes logged losses. "There's a lot of leverage embedded into crypto stocks so there will be a spillover effect into equity markets in the short term and there is also quite the inflation fear as the market thinks the Fed might have to hike rates abruptly if prices keep rising," said Thomas Hayes, chairman and managing member at hedge fund Great Hill Capital LLC. Federal Reserve officials played down any risk to the wider financial system. "By itself I don't see that as a systemic concern at this point," St. Louis Federal Reserve president James Bullard said. "We are all quite aware that crypto can be very volatile." Story continues Bitcoin, the biggest and best-known cryptocurrency, had already been under pressure from a series of tweets from Tesla's Musk. Cryptocurrency price declines last week were sparked by Musk's reversal on Tesla accepting bitcoin as payment, citing the heavy environmental toll of "mining" bitcoin, which requires a lot of electricity to power the computers that create bitcoin. Amid Wednesday's crypto sell-off, Musk tweeted a 'diamond hands' emoji https://twitter.com/elonmusk/status/1395027147161489412?s=20, used in social media to signal a position is worth holding on to. "His tweet definitely helped the recovery," said Mike Venuto, founder and chief investment officer at Toroso Investments, which oversees $7 billion in assets. "Would it have recovered some without it? Yes. But would it have recovered nicely? Maybe not." Bitcoin has dropped some 40% from a record high of $64,895 hit on April 14. On Wednesday, it hit a low of $30,066 and was last down 13% at $37,323. Tesla shares fell 2.5%. "Bitcoin's sharp price drop should come as no shock to the market," said Gavin Smith, CEO of crypto consortium Panxora. "Any asset which has risen as much as bitcoin over the past year can be expected to have pullbacks as some investors withdraw profits, like we're currently seeing." Bitcoin's decline whacked other crypto assets, with ether, the coin linked to the ethereum blockchain network, last down 22.5% at $2,620. Meme-based dogecoin also tumbled, losing nearly 26%, at 35 cents, according to Coingecko. Amid the volatility, cryptocurrency trading platforms Coinbase and Binance said they were investigating or experiencing some service issues. Shares in Coinbase dropped 5.9% on Wednesday. Technical factors were also said to be at play as bitcoin appeared to accelerate once it fell below its 200-day moving average, a chart position which traders follow. "The crypto markets are currently processing a cascade of news that fuel the bear case for price development," said Ulrik Lykke, executive director at crypto hedge fund ARK36. Some crypto-watchers predicted more losses ahead, noting the fall below $40,000 represented a breach of a key technical barrier. ARK CEO Wood, on the other hand, said in an interview with Bloomberg that she was still sticking to her $500,000 forecast for bitcoin. Investors could also be exiting bitcoin for gold, analysts at JPMorgan said, citing data on open interest in CME bitcoin futures contracts. That the crypto asset is tumbling at a time when inflation fears are rising undermines the case for investing in the asset class to hedge against inflation, analysts said. (Reporting by Tommy Wilkes, Sujata Rao in Londo; Additional reporting by Shashank Nayar, Medha Singh; Writing by Alden Bentley, Gertrude Chavez-Dreyfuss and Lewis Krauskopf in New York; Editing by Emelia Sithole-Matarise, Andrew Cawthorne, Elaine Hardcastle and Richard Chang) || Coinbase Listing: The Journey From Y Combinator to Nasdaq: It wasn’t always clear that Coinbase was going to be a profitable company in the long term.
The crypto exchange set to list on Nasdaq on Wednesday had to husband its resources during the industry’s prosperous times to make it through the lean periods.
“There have been a lot of moments in Coinbase’s past where the right person made the right call,” said Asiff Hirji, president of blockchain mortgage platform Figure and former Coinbase president and chief operating officer. “In the first crypto winter, they hung in there with their business model, and saving enough cash to preserve through the winter. That’s an amazing call to make.”
Related:Bitcoin News Roundup for April 14, 2021
Hirji recalled planning for 2018. “We had done a billion dollars in revenue in 2017 and said that next year we were planning on doing $500 million in revenue. [The board] was used to [feverlines moving] up and to the right and we told them ‘We are a highly volatile business.’ … We assumed that on Jan. 1, 2018, bitcoin would crash. We were only off by a quarter.”
Bitcoin’s future was just as uncertain as the company’s own in the early days.
“It was not clear that the cryptocurrency experiment would even work,” said Olaf Carlson-Wee, the first hire at Coinbase who is now the CEO and founder of Polychain Capital. “Now we talk about market share in cryptocurrency or cryptocurrency competing with fintechs and things like that. At the time, this was much more existential and was about whether the entire category would work and most of those early Coinbase folks were true believers that had faith that this was an incredibly new technology.”
That belief now appears to be vindicated with Goldman Sachs advising Coinbase on the listing and thecoveted COIN tickersecured.
Related:Coinbase Indicates to Trade at $349: Reuters
Following is a timeline tracing Coinbase’s journey from the Y Combinator incubator, through those uncertain periods described by Hirji and Carlson-Wee, to its imminent multibillion-dollar stock market debut.
Brian Armstrong leaves Airbnb to start Coinbase. (Former Goldman Sachs Trader Fred Ersham willjoinlater as co-founder.) The company raises $600,000 in seed funding from Y Combinator and other investors. (link,link)
Spring:Coinbase registers as a money services business with the Financial Crimes Enforcement Network (FinCEN). (link)
May 7:Coinbase scores a $5 million Series A, the largest crypto funding round at the time. (link)
Aug. 2:Litecoin creator Charlie Lee leaves job at Google to join Coinbase. (link)
Aug. 16:With fresh capital, Coinbase allows users to send friends bitcoin and refer them to Coinbase via text or email. (link,link)
Dec. 12:Coinbase breaks crypto funding records again with a $25 million Series B from Andreessen Horowitz and others with a16z partner Chris Dixon joining the board. (link)
Dec. 19:In less than a year, Coinbase gains more than 650,000 retail users (link)
Dec. 30:Coinbase launches a point-of-sale app allowing physical retailers to accept bitcoin payments. (link)
Jan. 9:Overstock.com becomes the first major retailer to accept bitcoin using Coinbase. Over the next several months, Coinbase will add Dell, Expedia, and Stripe as merchant processing clients. (link,link,link,link)
Jan. 15:Coinbase launches a security update that allows users to have their keys split into pieces and kept in vaults around the world. (link)
Feb. 25:Bitcoin scholar Andreas Antonopoulos inspects Coinbase’s bitcoin reserves and security practices. (link)
May 6:Coinbase makes its first acquisition: Content sharing company Kippt, which helped the company create its app gallery. (link)
July 2:Coinbase launches “Vault,” a more secure wallet designed for institutions and wealthy individuals. Vault offers security features that are common among enterprise bank accounts, such as requiring multiple approvals for withdrawal. (link)
Aug. 18:Coinbase acquires blockchain explorer Blockr.io. (link)
Sept. 10:Coinbase enters Europe with bitcoin buying and selling services in 13 EU countries. (link)
Sept. 14:Coinbase releases Toshi, a free application programming interface (API) wallet toolkit for bitcoin app developers. (link)
Oct. 24:Coinbase introduces a bitcoin buy, sell and send app for iOS. It will be removed from the app store by Apple a month later, presaging a long struggle for the sector to reach the world’s millions of iPhone and iPad users, and eventually reinstated. (link,link,link)
Jan. 20:Coinbase raises $75 million in Series C funding. Investors include New York Stock Exchange parent company Intercontinental Exchange, financial services trailblazer USAA, and Spanish megabank BBVA. (link)
Jan. 26:Coinbase Exchange is launched, allowing individuals and institutions in 24 states to trade bitcoin. Unlike Coinbase’s existing bitcoin buying and selling services, which were geared toward entry-level users, this one is designed for professional investors. (link)
Feb. 17:The Washington Free Beaconreports that a Coinbase slide deck told Series D investors that one of the benefits of bitcoin was the ability to evade international sanctions. According to Jeff John Roberts’ bookKings of Crypto, this led to Coinbase losing its relationship with Silicon Valley Bank. Roberts also claims that the incident led to the firing of then chief compliance officer Martine Niejadlik. (link,link,link)
July 5:Canadian payments processor Vogo shuts down, forcing Coinbase to pull out of Canada. (link)
Sept. 2:Coinbase expands to Canada and Singapore with retail buy and sell operations. (link)
May 19:Coinbase allows traders to buy, sell, and hold ether, the native token of the Ethereum blockchain, while rebranding its exchange to Global Digital Asset Exchange (GDAX). (link)
July 21:Coinbase wallet users are given the ability to trade ether. (link)
July 26:Coinbase expands bitcoin buying service to Australia. (link)
Nov. 18:The Internal Revenue Service (IRS) asks Coinbase for the records of all customers who bought digital currency through the exchange from 2013 to 2015, kicking off a yearlong legal battle. (link)
Jan. 17:Coinbase receives a BitLicense from the New York Department of Financial Services (NYDFS). (link)
March 21:Coinbase adds margin trading to its bitcoin exchange. (link)
March 22:NYDFS allows Coinbase to offer ether and litecoin in New York. (link)
Aug. 10:Coinbase breaks another crypto funding record with a $100 million Series D. Dropbox, GitHub and Netflix participate. (link)
December:Coinbase experiences several outages as bull market activity overwhelms its servers – a problem that will resurface in the next run-up, three years later. (link,link)
Dec. 19:Coinbase lists bitcoin cash (BCH), a splinter currency, or fork, created in the wake of the Bitcoin community’s acrimonious debate over scaling. After unusual trading activity, the exchange delisted BCH and launched a months-long internal insider trading investigation led by two national law firms that finds no insider trading of BCH. (link,link,link,link,link)
Dec. 20:BCH’s price on Coinbase rises to almost three times the price of that seen on other exchanges. Coinbase halts trading in the coin and opens an insider training investigation. (link)
Feb. 26:Settling its court dispute, Coinbase provides data to the IRS on 13,000 customers with transactions totaling more than $20,000. The information includes taxpayer IDs, names, dates of birth, addresses and transactions records from 2013 to 2015. (link)
March 26:Coinbase adds support for Ethereum ERC-20 tokens, a prerequisite for listing a wide range of assets created on the second-largest blockchain. (link)
April 5:Coinbase launches Coinbase Ventures, an incubator fund for early-stage startups. On the same day, Coinbase announces it will allow customers to withdraw funds from bitcoinforks. (link,link)
April 16:Coinbase acquires cryptocurrency social network Earn.com. As part of the deal, Earn CEO Balaji Srinivasan joins Coinbase as chief technology officer. (link)
May 15:Coinbase launches Coinbase Custody, a crypto storage service for large financial institutions. (link)
May 15:Coinbase offers Coinbase Prime, a high-touch brokerage service for institutional investors. (link)
May 16:Coinbase Ventures invests in decentralized lending protocol Compound. (link)
May 23:Coinbase rebrands GDAX to Coinbase Pro and acquires decentralized exchange Paradex. (link)
Aug. 6:Coinbase hires Amazon Cloud executive Tim Wagner as vice president of engineering. (link)
Aug. 15:Toshi rebrands as Coinbase Wallet. (link)
Oct. 23:Coinbase and Circle form CENTRE consortium for standardizing cryptocurrencies designed to hold their value. Coinbase lists its first dollar-backed stablecoin, Circle-issued USD Coin (USDC). (link,link)
Oct. 30:Coinbase raises $30 million in a Series E led by Tiger Global at an $8 billion valuation. (link)
Jan. 7:Coinbase halts ethereum classic (ETC) trading after it detects a “double spend” attack on the cryptocurrency’s network. (link,link,link)
Feb. 19 to March 4:Coinbase acquires Italian blockchain analytics startup Neutrino. The acquisition sparks outrage because Neutrino’s founders used to work at Hacking Team, a surveillance company with a history of selling spyware to governments with poor human rights records. Armstrong later announces that Coinbase will fire the employees who used to work for Hacking Team. (link,link,link)
April 18:Reuters estimates that Coinbase made almost $520 million in global revenue in 2018. (link,link)
May 4:Srinivasan departs Coinbase after serving the minimum agreed period. (link)
Aug. 8:Coinbase reports that a sophisticated hacker tried to attack its internal network using social engineering, spear-phishing and vulnerabilities in the Firefox browser. The Coinbase network wasn’t compromised and no crypto was stolen. (link)
Sept. 30:Coinbase co-founds the Crypto Rating Council with seven other firms to help crypto companies determine if they’re complying with U.S. federal securities law. (link)
March 9:Coinbase suggests that all employees work from home as COVID-19 spreads in the United States. (link)
May 20:Armstrong announces that Coinbase will remain a remote-first company even after the pandemic. (link)
May 27:Coinbase acquires Tagomi, a prime brokerage platform specializing in digital asset trading. The deal has been in the pipeline since the fall. Coinbase reportedly pays between $75 million and $100 million, all in stock. (link,link)
June:Armstrong expresses sadness after George Floyd, 46, dies while in police custody in Minneapolis but receives internal backlash for refusing to publicly say “Black Lives Matter” in the wake of nationwide protests. Employees staged a walkout over the issue and Armstrong later tweets “black lives matter” through his personal handle, spelling the phrase lowercase to avoid endorsing the protest movement. This tweet is later deleted along with all of Armstrong’s tweets before Oct. 12, 2020. (linkandlink)
June 5:Coinbase begins to sell blockchain analysis software to U.S. government agencies. (link)
Aug. 12:Coinbase announces it will allow U.S. retail customers to borrow fiat loans against as much as 30% of their bitcoin holdings. (link)
Aug.31:Coinbase adds a16z’s Marc Andreessen as board observer, replacing Chris Dixon. (link)
Sept. 27:Armstrong further rattles some employees by declaring that Coinbase will have an apolitical culture. (link)
Sept. 28:Coinbase offers a severance package for employees who are not satisfied with the company’s apolitical stance. (link)
Oct. 8:Coinbase loses 5% of its staff to the severance package offer. (link)
Oct. 28:Coinbase announces it will launch its Visa debit card in early 2021. (link)
Dec. 1:Coinbase reveals that it facilitated MicroStrategy’s $425 million bitcoin buy earlier in 2020. (link)
Dec. 17:Coinbase files preliminary documents (Form S-1) with the U.S. Securities and Exchange Commission (SEC) indicating that it plans to go public. (link)
Dec. 18:The company reportedly picks Goldman Sachs to lead its direct listing. (link)
Dec. 29:The New York Times reports that in 2018 Coinbase paid women at the company an average of 8% less than men and paid Black employees 7% less than employees in similar roles. (link)
Jan. 7:Coinbase acquires trade execution startup Routefire. (link)
Jan.19:Coinbase buys blockchain infrastructure startup Bison Trails. (link)
Jan.25:CoinDesk reports that university endowments that backed blockchain VCs in 2018 have been buying crypto directly from Coinbase for a year. (link)
Jan.28:Coinbase confirms that it intends to become a public company through a direct listing. (link)
Feb. 17:The Blockreports that Tesla used Coinbase’s institutional trading wing to make its $1.5 billion bitcoin investment. (link)
Feb. 17:Coinbase hires former Stripe executive Melissa Strait to head compliance. (link)
Feb.19:Coinbase is valued over $100 billion in the private market. (link)
Feb. 25:Coinbase’sForm S-1becomes effective with the U.S. Securities and Exchange Commission (SEC), clearing the company to proceed with its listing. (link)
Coinbase reveals that Armstrong was paid $60 million in 2020. (link)
Coinbase cites the potential unmasking of Bitcoin’s mysterious creator among its business risks in the prospectus. (link)
The Form S-1 reveals that Coinbase had diversified away from its primarily retail-driven market. Retail customers represented just 36% of trading volumes during the fourth quarter, down from 80% in early 2018. (link)
The firm calls out Binance as one of the exchanges that operates in the U.S. with “varying degrees of regulatory adherence.” (link)
The exchange cautions in the S-1 that U.S. regulators may inhibit its ability to compete with rivals in decentralized finance (DeFi). (link)
The S-1 also reveals that in 2014 Coinbase gave Silicon Valley Bank (SVB) stock warrants as part of an agreement allowing Coinbase to send and receive U.S. dollars through the banking system. (link)
In a blog post, Coinbase reveals that it has held bitcoin on its balance sheet since 2012. (link)
Feb. 27:Coinbase receives a $77 billion valuation in private markets. (link)
Armstrong’s net worth is reportedly valued between $7 billion and $15 billion. (link)
March 3:Coinbase submits disclosures to the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) admitting that its services may have been used to circumvent U.S. sanctions. (link)
March 17:Coinbase registers 114.9 million shares for public listing. (link)
March 19:Coinbase pays the Commodity Futures Trading Commission (CFTC) $6.5 million to settle claims by the regulator that it reported misleading information about trading volumes. (link)
March 20:Coinbase’s delays the listing to April. (link)
March 24:Coinbase announces it will open offices in India even as a potential crypto ban looms in the world’s second-most populous country. (link)
March 30:Coinbase hires former SEC official Brett Redfearn to be the vice president of its capital markets division. (link)
April 1:Coinbase announces that its stock will begin trading on the Nasdaq on April 14 under the ticker symbol COIN. (link)
Coinbase hires Morgan Stanley’s global anti-money-laundering counsel to head up its enterprise compliance team. (link)
April 5:SEC documents reveal that Paul Tudor Jones’ $44.5 billion Tudor Investment Corporation has a custodial relationship with Coinbase and Bakkt. (link)
April 6:Coinbase reports a ninefold increase in revenue in the first quarter of 2021, raking in $1.8 billion. The firm more than doubled its monthly transacting users from 2.8 million to 6.1 million. (link)
April 7:Investment bank DA Davidson raises its share price target for Coinbase shares to $440 from $195. (link)
April 9:Coinbase receives valuation estimates from $19 billion to $230 billion, highlighting analysts’ uncertainty about the future of bitcoin and crypto broadly. (link)
Documents unearthed by CoinDesk reveal that billionaire investor Daniel Loeb’s Third Point LLC holds cryptocurrency from five of its funds with Coinbase Custody. (link)
April 12:Bitcoin, ether hit new all-time highs ahead of the direct listing. (link)
• Coinbase Listing: The Journey From Y Combinator to Nasdaq
• Coinbase Listing: The Journey From Y Combinator to Nasdaq
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 35862.38, 33560.71, 33472.63, 37345.12, 36702.60, 37334.40, 35552.52, 39097.86, 40218.48, 40406.27
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
2 big banks are backing a startup doing for global trade what Google did for advertising: (Tradeshift founder and CEO Christian Lanng.Tradeshift)
LONDON — Santander announced a few weeks ago that it is making an undisclosed investment in Tradeshift, a Danish fintech company.
The Spanish bank joins HSBC, American Express, and CreditEase, China's biggest online lender, in backing the six-year-old company. What do they all see in it?
"What we do is a fairly new thing," founder and CEO Christian Lanng told Business Insider in an interview. "We provide essentially a network to connect companies that do business together."
Tradeshift's platform is a little like Salesforce but for managing global trade networks. Lanng explains: "We work with some of the largest companies in the world like DHL and the NHS. We help them connect their global supply chain.
"In the case of DHL, it’s hundreds of thousands of suppliers around the world who are connected. Once they’re connected they can then do business with them and that means all of the invoicing, purchasing, risk assessment of suppliers, collaboration."
Lanng adds: "Any new business process you want to roll out is essentially just an app sitting on top of the platform. Say I would love to do corporate social responsibility management or track carbon in my supply chain, it’s just an app you activate and deploy. It’s a whole new approach to managing your business and business processes."
The cloud-based platform works with over 800,000 companies across 190 countries and counts 75 Fortune 500 businesses as customers.
What we can do here is make financing much more relevant to you and we can make sure that the lender that is the best fit for you gets in front of you.
As well as simply looking like a shrewd investment for the likes of HSBC and Santander, Tradeshift offers banks the opportunity to pitch for business.
Lanng says: "In the old days, it made sense for the bank to have a branch next to the marketplace because it’s a physical location. In 2016, it makes sense for the branch to have branches where the trade is, which is now virtual. So on our platform."
He adds: "What Google did was make advertising much more relevant for you. What we can do here is make financing much more relevant to you and we can make sure that the lender that is the best fit for you gets in front of you."
Google targets ads based on what you are searching for and have searched for in the past, giving it a good idea of the type of things you might like.
Tradeshift similarly gets an overview of how businesses are working and interacting, meaning it can offer up financing when it is most needed and the right type of financing.
Lanng says: "When the supplier receives that big purchase order from lets say DHL, that’s a really good time to go to them and say would you like some really cheap financing for the next 6 months to finance your fulfillment of that purchase order."
Tradershift does not provide any financing itself, however. Lanng says: "Our approach has been to take a marketplace approach. We say, 'look, we will let anybody provide services on top of our platform, we will take a small fee for providing data, and we will obviously help place the funding with firms who have the need.'"
Deutsche Bank recently made the bold call thatthe world has reached "peak globalisation,"predicting a decline in global trade as nations become more inward looking. Bad news for Tradeshift? Lanng is skeptical.
"It’s very naive or very early on to call peak global trade," he says. "I think global trade patterns will change but it won’t peak," he said.
"I think you will start to see a lot of nations just starting to tap into global trade now. You’re seeing a whole ascendant South East Asia. You’re seeing a whole new phenomenon which I think is extremely interesting and that is Chinese consumers buying more from Western suppliers. We’re working on a huge project right now around connecting Western suppliers into the Chinese market, a reverse of the flow you saw before.
"If you’re looking at a 3 to 5-year perspective maybe [it’s declining]," he says. "If you’re looking at 30, 40, 50-year perspective, not at all."
Still, Donald Trump has also vowed to bring jobs back to America from China and Brexit may well herald a decline in international trade, which is already wobbling. Surely this will at least mean some short-term pain for Tradeshift?
Again, Lanng takes a contrarian view. "Our goal is lowering the friction and if there are more barriers internationally then actually we can provide an even more valuable service because we can help navigate those," he says.
It’s very naive or very early on to call peak global trade.
"One theme we’ve been talking about for the last 3 years is: be very careful because your supply chain and your business is set up for a market that predicts stability," Lanng says.
"The way you source your goods, the way you run your supply chain, the way you roll out your IT systems are all built on the idea that things are going to remain the same.
"The problem that you have is when there’s change in the market like Brexit, Trump, TTP being torn up, these companies now have a very high cost of change.
"Now there’s a premium on agility in supply chains and lowering your cost of change and being flexible. This is what we’re selling to customers. If you’re buying SAP you’re buying something that is extremely robust but extremely brittle in some other ways. But if you’re buying Tradeshift you’re buying something that’s extremely flexible because it’s set up as a network, it’s easy to reconfigure, you can update some of our processes on the fly."
Investors are siding with Lanng. Tradeshift wasvalued at over $500 million in its latest funding round earlier this year, according to the Wall Street Journal.
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• The price of bitcoin is at a 2016 high || 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, Hyperledger announced it 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." Story continues 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 Trumps 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 havent 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 like United States Oil USO, Brent crude ETF United States Brent Oil BNO and energy ETFs like Energy Select Sector SPDR ETF XLE 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 like iShares 20+ Year Treasury Bond TLT and dividend ETFs like SPDR S&P Dividend ETF SDY may face pressure. Meanwhile, ProShares High YieldInterest Rate Hedged ETF HYHG or inverse bond ETFs like Barclays Inverse US Treasury Aggregate ETN TAPR are poised to benefit (read: Hedged & Inverse Bond ETFs to the Rescue if Rates Rise). Story continues 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 w ill thus be on the watch list of investors (read: Will 2017 Be a Year of Global Reflation & TIPS ETFs?). Commodity Now thats 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 like iPath Pure Beta Aluminum ETN FOIL, iPath Pure Beta Copper ETN CUPM and iPath Bloomberg Tin SubTR ETN JJT 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 put First Trust NASDAQ Cybersecurity ETF CIBR and PureFunds ISE Cyber Security ETF HACK in focus. India Indias pro-growth political changes in 2014 had shaped it into a hot investing zone. Most economic episodes also went in favor of Asias 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 Indias 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 like WisdomTree India Earnings ETF EPI 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 doesnt have a strong correlation with other classes. Bitcoins 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. 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 ISHARS-20+YTB (TLT): ETF Research Reports US-OIL FUND LP (USO): ETF Research Reports PURFDS-ISE CYBR (HACK): ETF Research Reports US BRENT OIL FD (BNO): ETF Research Reports SPDR-EGY SELS (XLE): ETF Research Reports PIMCO-GA ILBETF (ILB): ETF Research Reports IPATH-PB ALUMNM (FOIL): ETF Research Reports SPDR-SP DIV ETF (SDY): ETF Research Reports IPATH-BB TIN (JJT): ETF Research Reports FT-NDQ CYBERSEC (CIBR): ETF Research Reports BARCLY-INV USTC (TAPR): ETF Research Reports WISDMTR-IN EARN (EPI): ETF Research Reports IPATH-PB COPPER (CUPM): ETF Research Reports PRO-HI YLD IRH (HYHG): ETF Research Reports 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 || Here's what a Trump presidency means for the payments industry: (BII)This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, pleaseclick here.
After Donald Trump unexpectedly clinched the US presidency earlyWednesday, the uncertainty rippling through the world could extend to the payments industry in a few key ways.
A Trump presidency could limit one of US remittance firms’ largest drivers of business.
• Trump at one point threatened to cut off remittance send from the US to Mexico.Back in April, theWashington Postreceived a memo regarding Trump’s plans to fund his proposed 1,000-mile border wall between the US and Mexico. In the memo, Trump noted that he planned to force Mexico to pay for the wall by invoking the US Patriot Act to cut off portions of the flow of money between the US and Mexico until Mexico made a one-time $5 billion-$10 billion payment. That monetary flow would likely include remittances.
• That could drastically curtail the operations of US remittance firms.Mexico is the largest receive destination for US remittances, cashing $25 billion in 2015, according to theWorld Bank. The strength of that corridor is pushing firms to double down on Mexico — for instance, Western Union recently nearly doubled the size of its retail network in the country, and MoneyGram unveiled a product in partnership with Walmart to make it easier and less expensive to send money from the US to Mexico. Cutting off access to the corridor, even temporarily, could drastically change the trajectory for these companies.
Trump's victory could also impact two key categories of transaction volume.
• Domestic spend:The election's results will likely bring about economic uncertainty to US markets, which could affect how businesses and consumers spend. An increase in economic uncertainty is often accompanied by a decrease in consumer confidence. This, in turn, may lead to businesses and citizens mitigating any risk of a potential economic downturn by implementing safeguards such as hiring freezes or holding more in savings rather than spending. A reduction in spending would likely have a negative impact on sales for all the major players in the payments ecosystem, including but not limited to credit card companies,payment gateways, retailers, and even banks.
• Cross-border spend:Throughout his candidacy, Trump emphasized bringing manufacturing back to America, specifically taking aim at firms like Apple to build its products in the US rather than China. If Donald Trump pushes isolationist trade policies and issues tougher manufacturing restrictions, there could be a huge shift in how both consumers and businesses make international transactions. There would likely be a major decrease in international spending as more consumers are either unable to make transactions due to restrictions or unwilling to pay any extra fees.
Regardless of how Trump's presidency unfolds, the payments ecosystem will continue to grow and change.
Evan Bakker and John Heggestuen, senior analysts atBI Intelligence, have compileda detailed report on the payments ecosystemthat drills into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as revealing which types of companies are in the best and worst position to capitalize on the latest industry trends.
Here are some key takeaways from the report:
• 2016 will be a watershed year for the payments industry. Payments companies are improving security, expanding their mobile offerings, and building commerce capabilities that will give consumers a more compelling reason to make purchases using digital devices.
• Payments is an extremely complex industry. To understand the next big digital opportunity lies, it's critical to understand how the traditional credit- and debit-processing chain works and what roles acquirers, processors, issuing banks, card networks, independent sales organizations, gateways, and software and hardware providers play.
• Alternative technologies could disrupt the processing ecosystem. Devices ranging from refrigerators to smartwatches now feature payment capabilities, which will spur changes in consumer payment behaviors. Likewise, blockchain technology, the protocol that underlies Bitcoin, could one day change how consumer card payments are verified.
In full, the report:
• Uncovers the key themes and trends affecting the payments industry in 2016 and beyond.
• Gives a detailed description of the stakeholders involved in a payment transaction, along with hardware and software providers.
• Offers diagrams and infographics explaining how card transactions are processed and which players are involved in each step.
• Provides charts on our latest forecasts, key company growth, survey results, and more.
• Analyzes the alternative technologies, including blockchain, which could further disrupt the ecosystem.
To get your copy of this invaluable guide, choose one of these options:
1. Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >>START A MEMBERSHIP
2. Purchase the report and download it immediately from our research store. >>BUY THE REPORT
The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the payments ecosystem.
More From Business Insider
• You won’t recognize the new world of digital payments without this report
• THE CONNECTED DEVICE PAYMENTS REPORT: Market opportunities, top stakeholders, and new use cases for the next frontier in payments
• Future of Payments: Four Trends to Know in Payment Processing || Cable & Wireless Preliminary Q2 2016/17 Results: MIAMI, FL--(Marketwired - Nov 4, 2016) - Cable & Wireless Communications Limited ("CWC") is the leading telecommunications operator in substantially all of its consumer markets, which are predominantly located in the Caribbean and Latin America, providing entertainment, information and communication services to 3.5 million mobile, 0.4 million television, 0.6 million internet and 0.8 million telephony subscribers. In addition, CWC delivers B2B services and provides wholesale services over its sub-sea and terrestrial networks that connect over 30 markets across the region. Liberty Global's Acquisition of CWC On May 16, 2016, a subsidiary of Liberty Global plc ("Liberty Global") acquired CWC (the "Liberty Global Transaction"). Revenue, Adjusted Segment EBITDA and subscriber statistics have been presented herein using Liberty Global's definitions for all periods presented unless otherwise noted. Further adjustments to these metrics are possible as the integration process continues. The results for the six months ended September 30, 2016 ("Q2 2016/17") have also been aligned to Liberty Global's EU-IFRS accounting policies and estimates. Significant policy adjustments have been considered in our calculation of rebased growth rates for revenue and Adjusted Segment EBITDA. Operating and financial highlights*: Delivered 9,000 organic RGU additions in Q2 2016/17 Mobile revenue 2% lower than the prior year in Q2 2016/17, as compared to Q2 2015/16 on a rebased basis, due primarily to a decrease in the Bahamas Establishing Flow as a leading sports broadcaster in the Caribbean Successful Olympics campaign with over 4.6 million viewers tuning into Flow channels 85% increase in Flow Sports viewership in August versus May through July average Exclusive rights to broadcast Premier League commenced during the quarter Strengthened customer proposition in Panama through launch of MAST3R fixed bundles in September Providing HD, play from start, live pause and rewind functionality 300 Mbps broadband product now available to 135,000 homes YTD revenue of $1,141 million, 2% lower YoY, on a rebased basis 10% rebased top-line growth in Jamaica more than offset by declines in other major geographies primarily due to competitive and macroeconomic factors and lower managed services revenue Net losses of $18 million and $124 million in Q2 2016/17 and YTD, respectively YTD Adjusted Segment EBITDA of $411 million, up 1.5% YoY, on a rebased basis $9 million (4%) sequential EBITDA improvement from Q1 2016/17 to Q2 2016/17, reflecting margin improvement of 200 basis points Property, equipment and intangible asset additions declined to 17% of revenue in Q2 2016/17 from 25% in Q2 2015/16 BTC in the Bahamas suffered significant infrastructure damage and business interruption as a result of Hurricane Matthew during early October 2016 Anticipate Q3 2016/17 adverse Adjusted Segment EBITDA impact of $8 million to $12 million Total infrastructure repair costs estimated at $35 million to $45 million We expect that our third-party insurance will cover a significant portion of the hurricane-related losses Story continues Synergies from combination with LiLAC LiLAC is targeting $150 million of synergies by December 31, 2020 50% OCF related -- primarily recurring cost reductions 50% capital expenditure related -- recurring and nonrecurring Anticipate a substantial amount of total LiLAC synergies will benefit CWC * The financial figures contained in this release are prepared in accordance with EU-IFRS. 28 CWC's financial condition and results of operations will be included in Liberty Global's condensed consolidated financial statements under U.S. GAAP 10 . There are significant differences between the U.S. GAAP and EU-IFRS presentations of our condensed consolidated financial statements. Subscriber Statistics We delivered organic subscriber growth across video, internet and telephony product categories in Q2 2016/17. In our mobile business, which represents roughly 40% of total revenue, postpaid subscriber growth was more than offset by a decline in our prepaid base, primarily due to the impact of competitive offers to lower value subscribers in Panama. On the mobile front, we continue to invest in our networks to enable the delivery of high speed, resilient mobile services and leading converged products to our customers. We are actively expanding our LTE coverage in Panama and plan to launch LTE in the British Virgin Islands later this year. Turning to our video, internet and telephony businesses, we added 9,000 organic RGUs during the quarter, as we achieved subscriber growth in each of our products. In terms of broadband internet, we added 7,000 organic subscribers on the back of 5,000 RGU additions in Jamaica and 2,000 RGU additions in Trinidad and Tobago. On the video front, we added 1,000 RGUs in the quarter, primarily driven by our DTH business in Panama. The increased RGUs from our DTH business were largely offset by declines in video RGUs in Barbados and Trinidad and Tobago as a result of increased competition. During the quarter, our regional sports offering, led by Flow Sports and Flow Sports Premier, performed strongly, helping to establish Flow as a leading sports broadcaster in the Caribbean. Our official Olympic Games application was downloaded approximately 60,000 times during the event with over 73,000 hours of live content streamed. Flow Sports Premier, following its launch in July, also began providing unrivaled coverage of the Premier League in the region beginning in August 2016. Rounding out fixed-line products, we added 1,000 telephony subscribers in the quarter, as we continued to modestly increase penetration of our VoIP-based services through bundling across our footprint. At September 30, 2016, our bundling ratio stood at 1.51 RGUs per customer as 10% of our customers subscribed to a triple-play product, 32% to a double-play product, and 58% took only one product from us. This relatively low bundling ratio provides ample runway for RGU growth as we seek to sell additional products to our customers. From a geographic standpoint, highlights of the trends in our largest markets are as follows: In Panama, mobile subscribers declined by 36,000 in the quarter on an organic basis with the decline weighted towards lower value customers as our postpaid base continued to grow (up 2,000). We are seeking to improve our fixed video and internet performance with our improved "Mast3r" bundles featuring HD, play from start, live pause and rewind functionality and 300 Mbps broadband speeds. In the Bahamas, we grew our mobile customer base by 4,000 subscribers (up 1%) due to increased promotional activity, successfully targeting higher-ARPU postpaid customers. We have made steady progress with our broadband internet and video products following the roll-out of our fiber-to-the-home ("FTTH") network, which now passes 14,000 homes. Turning to Jamaica, broadband internet and video RGUs were up 3% and 1%, respectively, as our improved product offering and strong Olympics campaign resonated well in the market. We grew our mobile subscriber base by 3,000 RGUs in the quarter, as we continued to win back market share and launched new products such as Flow Lend, an innovative solution enabling prepaid customers to request credit advances and earn rewards for prompt payment. In Barbados, competition drove RGUs lower across all products in the quarter. We are implementing changes to our bundling strategy and focusing on quickly migrating customers who are on legacy DSL services to our high-speed FTTH network. Rounding out our main operations, in Trinidad and Tobago we delivered 3,000 organic RGU additions, despite a tough macroeconomic environment and increased competition. About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network - the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enables us to develop market-leading products delivered through next-generation networks that connect our 29 million customers who subscribe to over 60 million television, broadband internet and telephony services. We also serve 10 million mobile subscribers and offer WiFi service across seven million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . || 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. 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.BITCoinCapitalcorp.com company website. 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 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 at www.OTCMarkets.com . Contact us via: [email protected] or visit http://www.bitcoincapitalcorp.com SOURCE: First Bitcoin Capital Corp. || The Dark Web: Brought to You by U.S. Taxpayers: Beneath the internet you use every day lies a hidden network of thousands of encrypted sites known as the Dark Web.
Unlike the so-calledclearnet– where everything is open, indexed and searchable – thedarknetoffers anonymous access to information, products and services of all kinds, legal and illegal. Illicit drugs, creative chemists, child pornography and hacked personal information are all readily available, if you know where to look.
The software primarily used for encrypting, hosting and browsingDark Web sites is known as TororThe Onion Router, named for its sites’ .onion suffix. But here’s the thing. The tools were originally developed by the U.S. Naval Research Laboratory (NRL) and DARPA, the advanced research arm of the Department of Defense (DOD). And to this day,Tor is largely funded by the U.S. Government.
I’ll pause for a second to let that sink in.
If you’ve had lingering doubts about the good guys and the bad guys being two sides of the same coin, you can finally put them to rest. Inonionland, crime and punishment don’t just go hand-in-hand. They operate side-by-side. They’re next-door neighbors. Frenemies.
I guess the spooks wanted a way to gather intelligence, track evil doers, and communicate with each other, confidential sources, whistleblowers and dissidents, without leaving an online trail of IP addresses. So in the mid-to-late 90s, they came up with what later became known as Tor, akathe anonymity network.
Wait, the story gets better.
Aside from the scientists, developers, researchers and project managers who handle the technical side of Tor’s suite of software tools, the 501(c)(3) nonprofit is essentially run by Shari Steele, a civil rights attorney and long-time head and legal director of theElectronic Frontier Foundation or EFF.
The EFF is an online civil liberties advocate – essentially a digital version of the American Civil Liberties Union (ACLU). The organization, also a 501(c)(3) NPO, has been involved in a long list of lawsuitsagainstfederal law enforcement agencies. Steele and the EFF have been responsible for spearheading and funding Tor since the NRL set the code free in 2004.
ICYMI, the EFF was recently involved in a scuffle withT-Mobile’s free-wheeling CEO, John Legere, claiming the carrier’s unlimited data plan violates net neutrality rules because it offers unlimited streaming of standard quality video and charges $25 more for high-def. Sounds like nitpicking to me, but I guess that’s what activists do.
Steele, incidentally, is married to Bill Vass, engineering veep of Amazon Web Services. Before joining Amazon and running a robotics company, Vass spent much of his career as a senior IT executive with the U.S. Army, the DOD and Sun Microsystems, where he was CIO and oversaw the company’s federal government operation. Strange bedfellows, if you ask me.
Tor bills itself as the best thing since the First and Fourth Amendments, protecting anyone and everyone’s right to online privacy and freedom from prying eyes, web crawlers, IP trackers, search engines, site indexers, trolls and the like. That goes for evil-doers and do-gooders alike.
Whether you’re in the market for protected animals, selling hacked bank account data, peddling the latest designer drug, trying to build a bomb without blowing yourself up, searching for a hitman, a journalist trying to dig up dirt for a hit piece, or men in black, blue or camo, Tor’s Windows, Mac OS, Linux and Android-compatiblehidden servicescan help you do your dirty deeds on the sly.
Keep in mind, .onion marketplaces probably don’t take Visa, MasterCardorAmerican Express. Bitcoin is the currency of choice on the dark side of cyberspace.
The Dark Web is not all dark intentions run amuck, mind you. A new report byventure-backed security firm Terbium Labsfound that just over half the content on a random sampling of 400 of the more than 7,000 Tor sites was legitimate.
There are blogs, chat rooms and political forums free of censorship, political correctness and prying eyes. Facebook maintains a presence there for users living under repressive regimes that limit web access. And some people just don’t like the idea of their online activity being tracked.Google definitely gives me the creeps, that’s for sure.
The FBI has cleaned up a few sites, shutting down at least the first two versions of the infamous Silk Road black market. And while Tor may be the easiest way to get around the Dark Web, it’s certainly not the only way (not that I know anything about that sort of thing). As Tor becomes more mainstream, dark forces will inevitably migrate to shadier networks.
Of all the bizarre and unlikely interactions in the Tor saga, the one that surprises me the least is that you and I paid for it.
Shari Steele or representatives from the Tor Project could not immediately be reached for comment.
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• Yum unit Taco Bell to have 9,000 U.S. outlets by end-2022 || The Dark Web: Brought to You by U.S. Taxpayers: Beneath the internet you use every day lies a hidden network of thousands of encrypted sites known as the Dark Web. Unlike the so-called clearnet – where everything is open, indexed and searchable – the darknet offers anonymous access to information, products and services of all kinds, legal and illegal. Illicit drugs, creative chemists, child pornography and hacked personal information are all readily available, if you know where to look. The software primarily used for encrypting, hosting and browsing Dark Web sites is known as Tor or The Onion Router , named for its sites’ .onion suffix. But here’s the thing. The tools were originally developed by the U.S. Naval Research Laboratory (NRL) and DARPA, the advanced research arm of the Department of Defense (DOD). And to this day, Tor is largely funded by the U.S. Government . I’ll pause for a second to let that sink in. If you’ve had lingering doubts about the good guys and the bad guys being two sides of the same coin, you can finally put them to rest. In onionland , crime and punishment don’t just go hand-in-hand. They operate side-by-side. They’re next-door neighbors. Frenemies. I guess the spooks wanted a way to gather intelligence, track evil doers, and communicate with each other, confidential sources, whistleblowers and dissidents, without leaving an online trail of IP addresses. So in the mid-to-late 90s, they came up with what later became known as Tor, aka the anonymity network . Wait, the story gets better. Aside from the scientists, developers, researchers and project managers who handle the technical side of Tor’s suite of software tools, the 501(c)(3) nonprofit is essentially run by Shari Steele, a civil rights attorney and long-time head and legal director of the Electronic Frontier Foundation or EFF. The EFF is an online civil liberties advocate – essentially a digital version of the American Civil Liberties Union (ACLU). The organization, also a 501(c)(3) NPO, has been involved in a long list of lawsuits against federal law enforcement agencies. Steele and the EFF have been responsible for spearheading and funding Tor since the NRL set the code free in 2004. Story continues ICYMI, the EFF was recently involved in a scuffle with T-Mobile’s free-wheeling CEO, John Legere , claiming the carrier’s unlimited data plan violates net neutrality rules because it offers unlimited streaming of standard quality video and charges $25 more for high-def. Sounds like nitpicking to me, but I guess that’s what activists do. Steele, incidentally, is married to Bill Vass, engineering veep of Amazon Web Services. Before joining Amazon and running a robotics company, Vass spent much of his career as a senior IT executive with the U.S. Army, the DOD and Sun Microsystems, where he was CIO and oversaw the company’s federal government operation. Strange bedfellows, if you ask me. Tor bills itself as the best thing since the First and Fourth Amendments, protecting anyone and everyone’s right to online privacy and freedom from prying eyes, web crawlers, IP trackers, search engines, site indexers, trolls and the like. That goes for evil-doers and do-gooders alike. Whether you’re in the market for protected animals, selling hacked bank account data, peddling the latest designer drug, trying to build a bomb without blowing yourself up, searching for a hitman, a journalist trying to dig up dirt for a hit piece, or men in black, blue or camo, Tor’s Windows, Mac OS, Linux and Android-compatible hidden services can help you do your dirty deeds on the sly. Keep in mind, .onion marketplaces probably don’t take Visa, MasterCard or American Express. Bitcoin is the currency of choice on the dark side of cyberspace. The Dark Web is not all dark intentions run amuck, mind you. A new report by venture-backed security firm Terbium Labs found that just over half the content on a random sampling of 400 of the more than 7,000 Tor sites was legitimate. There are blogs, chat rooms and political forums free of censorship, political correctness and prying eyes. Facebook maintains a presence there for users living under repressive regimes that limit web access. And some people just don’t like the idea of their online activity being tracked. Google definitely gives me the creeps , that’s for sure. The FBI has cleaned up a few sites, shutting down at least the first two versions of the infamous Silk Road black market. And while Tor may be the easiest way to get around the Dark Web, it’s certainly not the only way (not that I know anything about that sort of thing). As Tor becomes more mainstream, dark forces will inevitably migrate to shadier networks. Of all the bizarre and unlikely interactions in the Tor saga, the one that surprises me the least is that you and I paid for it. Shari Steele or representatives from the Tor Project could not immediately be reached for comment. Related Articles How Stoners Are Getting High (Tech) Taco Bell Seeks to Add 100,000 U.S. Jobs by 2022 Yum unit Taco Bell to have 9,000 U.S. outlets by end-2022 || Flow CARIFTA Games 2017: Exciting on-the-go access, more broadcast hours for Caribbean sports fans: MIAMI, FL--(Marketwired - Nov 11, 2016) - As Caribbean sports fans gear up for theFlow CARIFTA Games 2017, they have something new to be excited about. Flow is once again raising the bar for sports viewership by providing fans with anytime, anywhere access with the new Flow Sports App. For the first time ever, fans of the Flow CARIFTA Games will not have to miss a single stride of the action whether they choose to be in the stadium in Curacao, watch from the comfort of their living rooms or tune in on the go -- they simply need to download the Flow Sports app on theirAndroidoriOSsmart devices, or visit the online microsite atwww.flowsports.cofrom any lap top or tablet device.
Flow now in its 2ndyear as theOfficial Broadcast Partner and Sponsorof the Flow CARIFTA Games, is alsoextending the live coverage to six hours each dayto bring fans even more of their favourite sports action. Additionally, the coverage will feature commentary from veteran Caribbean journalists from across the region, includingNadine Liverpool, internationally renowned sports broadcaster and host of Flow Sports Premier Weekly, andDalton Myers, Director of Sports at the University of the West Indies. So, now, track and field fans can have the best seats in the houseandget expert insights just by tuning into Flow Sports.
Wendy McDonald, Senior Director Communications -- Consumer Group, Flow said, "We are changing the game in sports viewership in the region, delivering more options and more content than ever before by any provider. This is the essence of what we bring to the Flow CARIFTA Games 2017. We are absolutely delighted to be able to work withThe North American, Central American and Caribbean Athletics Association(NACAC) and to have this opportunity to wow sports fans even while we contribute to the development of our athletes and the sport in general. Our mission is simply connecting communities, transforming lives, and we see our role as lead sponsor of the Flow CARIFTA Games as delivering on that commitment."
Commenting on the importance of their partnership with Flow, NACAC President, Victor Lopez said, "The IAAF-NACAC Athletics Association is proud of the invaluable partnership with Flow Sports for the sponsorship and broadcast of the Flow CARIFTA Games throughout the Caribbean."
This year, The Flow CARIFTA Games 2017 will be held on Easter Weekend in Curacao and will feature the Caribbean's elite up-and-coming athletes who will compete in various track and field events. Now in its 46thyear, the Flow CARIFTA Games has served as a spring board for many of the Caribbean's athletic stars, includingFlow Brand Ambassadors, two-time Olympian, gold and silver medallist, Kirani James of Grenada, Trinidadian Khalifa St. Fort, who holds the CARIFTA 100m women's record and Jaheel Hyde, Jamaican sprinter.
The Flow CARIFTA Games 2017 was launched at a press conference at the Hilton Curacao on November 10th. Flow Curacao Country Manager, Didier Renault, thanked the local organising committee, as well as Mr. Lopez and his team, and added, "As we say here in Curacao, 'Bon Bini!' We're proud to host this huge regional sporting event, and once again show that we're committed to helping develop sports across the Caribbean. With so many young athletes vying to inscribe their names in the Caribbean sports history books, the upcoming Flow CARIFTA Games is set to be intense, electrifying and fun --and you can catch it all onFlow Sports."
Tune in to Flow Sports -- The Home of Sports in the Caribbean.
Click hereto watch press conference highlights.
Watch Showreel here
About C&W CommunicationsCWC is a full-service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, CWC provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers.
CWC also operates a state-of-the-art submarine fiber network -- the most extensive in the region.
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 enable us to develop market-leading products delivered through next-generation networks that connect our 29 million customers who subscribe to over 59 million television, broadband, internet, and telephony services. We also serve 11 million mobile subscribers and offer WiFi service across seven million access points.
Liberty Global's businesses are comprised of two stocks: the Liberty Global Group (NASDAQ:LBTYA) (NASDAQ:LBTYB) (NASDAQ:LBTYK) for our European operations, and the LiLAC Group (NASDAQ:LILA) and (NASDAQ:LILAK) (OTC PINK:LILAB), which consists of our operations in Latin America and the Caribbean.
The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets.
For more information, please visitwww.libertyglobal.com.
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3079655Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3079657 || 2016: The Volatility Year That Wasn’t: Sometimes how we feel about the market bears absolutely no resemblance to reality. When I look back at 2016, I’m exhausted. And when I talk to many advisors, I hear similar comments: “What a year!” they say. “We had such an awful winter, and then all the craziness around the election!”
But the reality is that this was actually one of the most placid years in recent history. Here’s the actual, 30-day realized volatility of the S&P 500 for the last 10 years:
What this excellent chart from Bloomberg suggests is that our current market is in one of the lowest volatility periods we’ve seen in ages, and while we’ve had some spikes, particularly in the spring, it’s just about as boring a market as you can get.
Of course, you can’t actually trade this chart; instead, what you can trade, sort of, is the CBOE Volatility Index, or VIX—a derivative calculation based on the implied volatility of strips of S&P 500 options. Here’s what the VIX chart looks like over the past 10 years:
Even the quickest glance suggests these are pretty good proxies for each other, and while they’re not identical, they even “base” around the same number: 10 for low-vol periods, 80 for crazy spikes.
And using options is actually sensible, because for a sophisticated investor, making a specific bet on volatility would most easily be done with options. You want to bet the S&P 500 is going to spike in either direction? Options players have a plan for you—a straddle. Think we’re range-bound and want to bet on it? The wonderfully namedIron Condoris for you.
Managing volatility is in fact what options are designed to do, so that’s why the CBOE uses the real-world expressions of sentiment from options traders to compute the VIX.
The Contango Conundrum
Like options themselves, there’s nothing inherently bullish or bearish about the VIX itself. Using either options or futures contracts on the VIX index, investors can bet on either increasing or decreasing volatility.
The problem is that in a low-volatility environment like we’ve been in, most investors are going to guess that future volatility will be higher than today’s volatility, and thus they will bid up the price of the futures contracts themselves. A lot. Here’s what the futures curve looks like right now for the VIX:
With VIX at 12, buying the front-month futures contract will cost you 14. To put that in perspective, that means that, if VIX remains at 12, you can expect to lose $2 for every $14 invested in a single month. That $2-a-month decay continues from the first to the second month as well.
That means even if you’re right, and VIX is going to rise, you’re facing a 14.2% head windevery month. That’s a 396% head wind every year. Of course, thecontangoisn’t always this bad, but it’s generally been sharply upward-sloping all year long.
If you think that means investing in a long VIX-futures-based ETF for the last year has been tough, you’re right. The top three worst-performing ETFs over the last year all track near-month VIX futures contracts: theiPath S&P 500 VIX Short-Term Futures ETN (VXX), theVelocityShares Daily Long VIX Short-Term ETN (VIIX)and theProShares VIX Short-Term Futures ETF (VIXY).
‘Force Of Nature’ For Investors
The reason you can’t see three ETF lines on the chart is because these funds are, for all intents and purposes, identical in their returns. The problem is contango: It’s a force of nature, and there’s no getting around it as a futures investor.
While this isn’t a pretty chart, it’s worth noting that these funds have done exactly what they said they were going to do day after day. If you went into the month of June with a position in one of these funds, you were up over 25% in a matter of days as you caught the pre-Brexit spike in volatility.
But remember, the VIX was never intended as some sort of “long only” asset to invest in—it’s a measurement of the state of the market, just like humidity is a measurement of the state of the atmosphere.
Investors can, and do, capitalize on it in other ways, either by shorting funds like this to capture contango, or investing in the suite of inverse products, such as theVelocityShares Daily Inverse VIX Short-Term ETN (XIV)or theProShares Short VIX Short-Term Futures ETF (SVXY), that take the opposite bets:
Again, two strategies following the same basic strategy—taking the “sell” side of the VIX futures trade. These funds not only profit from contango, they’ve also benefited from relatively calm fluctuations in the VIX itself, which means the daily-rebalance effect common to most leveraged and inverse funds hasn’t cut into returns.
Of course, just like June was a great time to be in the long ETFs, it was murderous for these funds: If you got the timing wrong, you could have been down more than 35% in a matter of days when volatility spiked.
What’s In An (Inverse) Name?
Honestly, at ETF.com, we can end up trapped a bit by our own analytical framework. As a matter of course, we exclude leveraged and inverse funds from things like performance charts, because otherwise, every list would be nothing but the most levered version of whatever theme was hot (or awful) at the time. But in the case of VIX, that leads to some missed opportunities for analysis.
A long bet on the VIX is no different than a short bet on the VIX in theoretical terms. VIX is mean-reverting by definition, unlike any other investment I can think of in finance. So to my mind, this bizarre year, or relatively calm markets but high anxiety, has made VIX ETFs both the worstandnearly the-best-performing products in the market.
At the time of writing, the author held no positions in the securities mentioned. Contact Dave Nadig [email protected].
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Permalink| © Copyright 2016ETF.com.All rights reserved
[Random Sample of Social Media Buzz (last 60 days)]
"Bitcoin interprets know-your-customer legislation as damage and routes around it."- Un known || MMMBTC || #Altcoin News and #Pump Tips is out! http://paper.li/PumpingAltcoin/1399763175?edition_id=befd4f10-c63f-11e6-9152-0cc47a0d1609 … #Freebitcoin #Crypto #BTC #Mintpal Stories via @CryptoTwitt @TheWhaleSays || Just found this biz which pays instantly #entrepreneur #internetmarketing #bitcoin #global http://bit.ly/2fB5aTR pic.twitter.com/Tt4b6qYOT4 || One Bitcoin now worth $861.98@bitstamp. High $875.00. Low $820.00. Market Cap $13.840 Billion #bitcoin pic.twitter.com/Y0w6PSr9cX || C++ Programmer with Bitcoin and Blockchain Knowledge Required http://startuphire.com/393558t #Fill10k || Class-Action Filed To Block the IRS From Tracking Bitcoin Users On Coinbase https://news.82bitcoin.com/2016/12/18/class-action-filed-to-block-the-irs-from-tracking-bitcoin-users-on-coinbase-12/ … || 1 KOBO = 0.00000225 BTC
= 0.0000 USD
= 0.0000 NGN
= 0.0000 ZAR
= 0.0000 KES
#Kobocoin 2016-11-21 23:00 pic.twitter.com/3sDkBktsPp || 1 KOBO = 0.00000000 BTC
= 0.0000 USD
= 0.0000 NGN
= 0.0000 ZAR
= 0.0000 KES
#Kobocoin 2016-11-05 18:00 pic.twitter.com/xQAHJlFKTx || Experts Gather in Mumbai to Discuss the Future of Bitcoin and Blockchain in India http://dlvr.it/MwRdpV #forex
|
Trend: down || Prices: 1021.75, 1043.84, 1154.73, 1013.38, 902.20, 908.59, 911.20, 902.83, 907.68, 777.76
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on 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)]
Israel's eToro to go public through $10.4 billion SPAC deal backed by SoftBank, others: By Noor Zainab Hussain (Reuters) - Online stock brokerage eToro said on Tuesday it will go public through a merger with a blank-check firm backed by banking entrepreneur Betsy Cohen in a $10.4 billion deal, with investment from SoftBank's Vision Fund 2. EToro competes with Robinhood, which has become hugely popular with young investors for its easy-to-use interface. Robinhood has emerged as a gateway for amateur traders challenging Wall Street hedge funds. The deal with FinTech Acquisition Corp V, a special purpose acquisition company, will include a $650 investment from investors including Fidelity Management & Research Co LLC and Wellington Management. Founded in 2007, eToro has 20 million registered users who can manually invest in cryptocurrencies, stocks, commodities and more, while those who lack time or experience can automatically copy the trades of others on the platform. Special purpose acquisition companies, or SPACs, are shell companies that use proceeds from an IPO to take private firms public. FinTech Acquisition Corp V's shares jumped more than 15% before the bell. Cohen, who founded Jefferson Bank and Bancorp Inc, is one of the prominent businesswomen who have joined the SPAC frenzy. EToro joins a wave of Israeli tech companies and startups including mobile gaming company Playtika Holding Corp, that are going public in the U.S. to take advantage of the capital markets boom. In 2020, eToro added over 5 million new registered users and generated gross revenue of $605 million, a 147% jump from a year earlier. EToro will allow users in the U.S., who currently trade in cryptocurrencies, the option to buy and sell stocks later this year. Clients outside the U.S. can invest in fractional stocks, or parts of shares. Bitcoin accounts for one of every 25 positions opened on eToro, while the most popular stocks are Tesla Inc, Microsoft Corp and Apple Inc, according to the company's website. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Anil D'Silva and Shounak Dasgupta) View comments || What's Moving The Market Tuesday?: Indices Around The Globe
• S&P Futures flirted with positive territory, approached popular resistance level 3,900.
• U.K.'s FTSE 100 up 2.01% to near 6,613.
• Japan's Nikkei 225 down 0.86% to near 29,408.
Bonds
• 10-year treasury yield at 1.41%
Commodities
• Crude oil down 1.40% to near $59.68/barrel.
• Gold up 0.66% to near $1,735/oz.
• Silver up 0.83% to near $26.71/oz.
Crypto
• Bitcoin down 1.10% over the last 24 hours to around $47,415.
Top News
• Texas to fully relax statewide restrictions, according to Governor Greg Abbott. Masks will no longer be mandated, and businesses may reopen completely.
• Governor Gretchen Whitmer to relax restrictions in Michigan. More customers will be allowed inside businesses and restaurants, and private gatherings will allow for more people.
• President Joe Biden is expected to announce partnership betweenMerck(NYSE:MRK) andJohnson & Johnson(NYSE:JNJ) to collaborate on vaccine efforts.
• The Biden administration's COVID-19 relief bill expected to get a vote in the senate on Friday or Saturday, according to House Majority Leader Steny Hoyer.
• S&P Futures yesterday closed above the 3,900 level before turning around this morning. 3,900 has been a resistance level over the past couple weeks.
See more from Benzinga
• Click here for options trades from Benzinga
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• What's Moving The Market Monday? US, Asian Stocks Higher, Europe Stocks Lower
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Exelixis (EXEL) Inks Collaboration Deal to Test XL092 Combo in UC: Exelixis, Inc. EXEL announced that it has entered into a collaboration and supply agreement with Germany’s Merck KGaA and pharma giant Pfizer PFE for the ongoing phase Ib dose-escalation study – STELLAR-001. Per the latest development, three new cohorts will be added to the above-mentioned study, which will evaluate the safety and tolerability of Exelixis’ novel next-generation tyrosine kinase inhibitor, XL092, in combination with Pfizer’s anti-PD-L1 immune checkpoint inhibitor (“ICI”), Bavencio (avelumab), for treating patients with locally-advanced or metastatic urothelial carcinoma (“UC”). Notably, the STELLAR-001 study is being sponsored by Exelixis while Merck KGaA and Pfizer are providing Bavencio for use in the same. Bavencio is being co-developed and co-commercialized by Pfizer and Merck KGaA. Shares of Exelixis have rallied 13.9% so far this year compared with the industry’s increase of 3.9%. price chart for EXEL We remind investors that Exelixis is currently enrolling patients in the dose-escalation cohorts of the phase Ib clinical study of XL092 in combination with Roche ’s RHHBY immunotherapy, Tecentriq (atezolizumab). In October 2020, the first patient was enrolled in the dose-escalation cohort of the combination arm of the phase I study evaluating the safety, tolerability, PK and preliminary anti-tumor activity of XL092, both alone and in combination with Tecentriq in patients with advanced solid tumors. Zacks Rank & Stock to Consider Exelixis currently carries a Zacks Rank #4 (Sell). A better-ranked stock in the biotech sector is Repligen Corporation RGEN, which has a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here . Repligen’ earnings estimates have been revised 15.1% upward for 2021 and 9.8% for 2022 over the past 60 days. The stock has inched up 4.4% year to date. 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 Roche Holding AG (RHHBY) : Free Stock Analysis Report Repligen Corporation (RGEN) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Why Everyone Wants an Invite to Clubhouse Crypto: At approximately 1 a.m. ET on Jan. 30, somewhere outside New York City, a CoinDesk reporter came across what could be crypto’s next craze. Or perhaps its latest trial. While searching the annals of Clubhouse, the increasingly popular audio-only app, I stumbled across a dark conspiracy: A group of men masquerading as lizards talking about a new cryptocurrency. A lounge of men masquerading as lizards had gathered as tokens teleported from an originating contract into their digital wallets. And here, basking in the light of public display, they discussed how to get the word out. A full-on, unfettered conversation. “Are we on 4chan yet?” one asked, mentioning the pseudo-anonymous messaging board known as a font of memes and anti-social messages. They weren’t, but things apparently had gone awry anyway. Related: Bitcoin Faces Price Turbulence as Market Liquidity Falls, Says JPMorgan “What do you mean we got rugged again? Did someone add more liquidity?” “No, no one even sold yet.” “Don’t say that in the chat.” “I’ve screenshotted this chat, so if we get rugged I know it’s one of you guys.” “I still have more questions.” “I still have no lizard.” “Only 666,666 lizard. Few understand this.” That’s not the type of commentary one would imagine coming from, say, Satoshi Nakamoto when unveiling Bitcoin to the world. But it’s the pinnacle of social performativity that has found a home on Clubhouse. Clubhouse is a social media platform open to anyone with an invite and an iPhone. It has become the place to be for tech moguls and, more and more, crypto tastemakers looking to chat. Elon Musk pops in from time to time to talk about bitcoin and dogecoin , while other crypto luminaries including Meltem Demirors, Caitlin Long and Neeraj Agrawal appear more regularly. Like any social media platform, Clubhouse is what you make of it. There’s room enough for genuine discussion alongside scammers and multi-level marketing schemes. Some see it as the next vector for crypto adoption, which could be true; others as a way to replace some of the socialization missing during the pandemic age. It can get pretty weird, pretty quick. Story continues Related: India's Securities Regulator Wants IPO Promoters to Sell Crypto Holdings: Report None know this better than Arya Bahmanyar, better known by his alias CoinDaddy, and his coterie of technologists and artists building “Lizard ETH.” Though Bahmanyar would reject being called a Lizard “leader” – there are no “devs,” he said – he was the figure to answer for the group, when a reporter came sniffing around. In a message he pinned to the group’s public Telegram channel, Bahmanyar said Lizard is a “meme art project” and a “statement on the absurdity of DeFi and the current state of Ethereum.” It has no prescribed value or use, and anyone can claim LZRD for free (except for Ethereum gas fees). (To be sure, Bahmanyar is not the leader of the group nor the token’s creator.) Its main utility, in fact, seems to be as an icon around which a group of like-minded friends can talk and s**tpost. “It is a project of friendship,” Vincent Terracciano, a member of the LZRD Telegram channel, told CoinDesk repeatedly. In crypto’s decade-long run, the distinction between memes and this novel form of money has become difficult to parse. In 2013, people made sense of bitcoin by calling it “ magic internet money. ” In 2017, lambos were a shared desire of the nouveau riche. This summer saw the rise of yield farms, where “DeFi degens” would plow ETH into Yams, Sushi and Pickles. See also: Michael Casey – Memes Mean Money CoinDesk Chief Content Officer Michael Casey went as far as saying money itself has always been a meme. So it makes sense to talk about the “internet’s native money” in terms of a language born on the web. Further, one could expect that anywhere a meme could thrive, crypto would too. Crypto club Like all good and decent technologies, Clubhouse is flattening hierarchies among users and providing a space for anyone to be heard – literally. That may sound odd to say about a company that has thrived on hype around its exclusivity – you have to be invited to the club, for now – but the app’s appeal is more than just FOMO or bragging rights. “It’s not just a phone call,” Steven McKie, a founding partner at the crypto-focused venture firm Amentum Capital, said over Zoom. “Anyone can randomly pop in and out, so everyone maintains this modicum of professionalism by default. It really does feel like a good episode of [National Public Radio] sometimes.” Others have compared the experience to tuning into a podcast, going to a conference or hanging out at a coffee house. This clubby vibe, bordering on yuppie professionalism, hasn’t been lost as the app grows. December’s 600,000 users has surged to six million. Andreessen Horowitz, which invested $10 million in May, reinvested in January at a $1 billion valuation. “Everybody loves podcasts in the crypto space. What better than an ephemeral podcast where you just had to be there,” McKie said. “Especially during COVID this past year, we’ve just been glued to our phones, reading things on Twitter, Slack and Telegram. It’s just exhausting.” To the extent that Clubhouse offers something new, it’s by making it easier to engage empathetically with other people, McKie said. See also: Bitcoin Bull Run: OGs on Why This One’s Different Apart from semi-private lizard lounges, this reporter has tuned in for guitar jams and listened to lawyers debating Twitter bans, all in service of the job. There’s always at least five channels dedicated to self-help and often at least one meta-room focused on Clubhouse moderation and etiquette. And crypto-specific rooms? There’s investment advice for newbies. Chats about the granularities of bitcoin’s source code. CoinDesk has been experimenting with running rooms focused on news events. Both the number of crypto groups and their relative size are growing along with Clubhouse and CoinMarketCap’s worth . A club called “Bitcoin” had just over 12,000 followers on Jan. 15. Less than a month later it’s approaching 20,000. While that particular group, which hosts the Weekly Bitcoin Meetup , is led by the closest thing crypto has to public figures – including Brekkie von Bitcoin, Dan Held, Marty Bent, Amanda Fab, Nic Carter, among others – that’s not the case across the board. Many of the most prominent voices on Crypto Clubhouse are relative unknowns on the “it’s always Blockchain Week somewhere” conference circuit. Few have Twitter clout. “I’ve been educating people on bitcoin since 2013. There’s been nothing like Clubhouse so far,” Lamar Wilson, a crypto startup founder and influencer, told CoinDesk in a video interview. Wilson is far from unknown among early bitcoin adopters, though he isn’t a name often in the news. He founded Pheeva wallet, an early backdoor to get bitcoin wallets on iPhones (before that portal was slammed shut) and runs the Koinda Facebook group, which boasts about 25,000 followers. He also runs the Black Bitcoin Billionaires group on Clubhouse, which has grown past 17,000 followers in under two months. The group holds themed discussions on a daily and weekly basis, frequently moderated by Najah Roberts, chief visionary officer of an over-the-counter desk called Crypto Blockchain Plug. They both put in at least four hours a day running rooms or popping into others. Crypto Virgin Hours is probably the best-known chat room. It attracts approximately 200 participants every afternoon, offering a chance for the interested but unanointed to ask basic questions about wallets and coins. “Our mission is to onboard the world onto bitcoin,” Wilson said. “People always ask if I have to be Black to be in the group. No – It’s called that just to say it’s run by Black people, but everyone is welcome.” To that end, Black Bitcoin Billionaires partnered with Cash App to get one million satoshis in Black hands during February. Wilson considers bitcoin to be a tool for Black people to accumulate wealth to pass to the next generation. “Bitcoin is a great equalizer. It’s an asset anyone can have access to without worrying that anyone can take it from you,” he said. “Clubhouse is the first big social media application that Black people have been an early majority on,” Wilson said. “In every room that you’re in, it’s at least 50% Black. I think it’s because this is what we do as Black people. We go to barber shops, we go to beauty salons and talk. It fits the African American culture.” The DOGE house On a day I tuned in, Roberts was fielding a lot of questions about dogecoin, generally steering people away from the meme currency. “It has no purpose, it’s a parody coin. I can’t explain it,” she said, with a laugh. “I have some for fun. But I don’t even know what exchange mine is on. I’ve had it since 2017.” Although she called it a “pump and dump,” Roberts didn’t put investors off, telling them, “If you made money, be comfortable with your profits.” See also: Emily Parker – Why We Should Take Dogecoin Seriously While it’d be a mistake to say Clubhouse is a haven of sound investment advice, it seems less scammy than the bowels of Telegram or Discord. In part, that’s from the efforts of people like Roberts, Wilson and others including Cory Klippsten, founder of SwanBitcoin. If you spend any amount of time on the crypto side of Clubhouse, you’re bound to bump into a couple of people with “SwanBitcoin” in their usernames, the name of the bitcoin startup for which they work. They’re not there to shill their app necessarily, but usually trying to educate users on the good word of bitcoin. Klippsten joined the app in December and immediately got to work bringing others like him aboard. First he brought his colleagues, then his friends, before ultimately spinning up a Telegram chat to “hack” a way to share invites. (Clubhouse gives out invites to each new person who joins, and additional invites for those most active on the app.) He estimates this scheme brought in more than 1,000 bitcoin proselytizers. “Now, basically two-thirds of Bitcoin Twitter is on there,” he told me over Zoom. “The purpose is to make sure, if the word ‘bitcoin’ is used, there’s a bitcoiner there in the conversation to explain reality.” This isn’t to say Klippsten is a “toxic maximalist,” an epithet used to describe people who still think of Ethereum as an alt-coin project. “That’s what’s great about Clubhouse, you’re talking to real humans. It’s not the same as 280 characters on Twitter, where you fire something off and you’re done,” he said. He recalled one room where someone started “going off” on Twitter CEO Jack Dorsey, which was quickly moderated. “Even if you disagree with some things he’s done – I disagree with some things Cash App has done – that’s inappropriate when you’re doing it on audio,” he said. That said, the self-moderation of Clubhouse can only go so far. Like other social platforms, there have been numerous reports of misogynist, racism, anti-Semitism and outright bullying. Clubhouse’s founders, who declined to be interviewed, has largely been silent on such issues so far. “You know, the system isn’t perfect, but it’s a beta platform that’s growing. I do think that there are way more pockets of positivity than negativity,” Bomani X, a pseudonymous artist and former face of the app , told CoinDesk. Bomani said one of the biggest draws has been the connections he made in the crypto community. He works as a digital strategist for musicians such as Nicki Minaj and Lil Wayne, and chatting on Clubhouse has gotten him to think about how crypto could expand artists’ rights over their own music. See also: Audius Has Big Numbers by Crypto Standards but Can It Take On SoundCloud? Nothing is in the works right now, but he’s thinking about how blockchain can refigure broken payment models for artists and create new opportunities for fan engagement. “I definitely would love to see what the music-crypto space has to offer, especially as a creator myself,” Bomani said. Meanwhile, Ayra Bahmanyar said Lizard “is a completely neutral canvas everyone who feels they want to can paint on.” That’s true for Clubhouse, too. UPDATE (2/20/21, 16:00): Clarifies Arya Bahmanyar’s role in Lizard ETH. Replaces Bahmanyar’s photo. Bahmanyar contacted CoinDesk post-publishing to emphasize that the LZRD tokens are no longer claimable. They were created as “social commentary on the absurdity of Clubhouse’s rampant Bitcoin Maximalism,” he said. Related Stories Why Everyone Wants an Invite to Clubhouse Crypto Why Everyone Wants an Invite to Clubhouse Crypto || Bitcoin-Based DeFi Project Sovryn Near Agreement on $10M Investment From ‘Pomp’: Sovryn, a project that aims to bring decentralized finance (DeFi) to Bitcoin,is in the final stagesof approving a 180BTCinvestment from “Pomp” but only under certain circumstances.
Under the terms of theproposal, cryptocurrency evangelist Anthony “Pomp” Pompliano would invest 180 bitcoin, worth around $10 million at today’s prices.While this might seem like yet another crypto investment story, this one is notable for the efforts Sovryn is taking to ensure that its existing token holders aren’t marginalized simply because it’s getting a big investment.
While in most cases decentralized governance goes out the window when well-heeled investors come knocking, Sovyn’s decentralized governance community is taking things slow to make sure all members will continue to have a say in the project’s governance.
Related:The Real Problem With Crypto
As of this writing, a deal had still not been finalized. Jascha Samadi, co-founder and partner at Berlin-based early-stage venture fund Greenfield One, which led a seed round in Sovryn in 2020, said this marks the shape of things to come when it comes to decentralized projects and investing.
“The standard way fundraising decisions happen is the team’s treasury or the foundation’s treasury simply raise money by selling tokens to private investors, and it happens in a very closed circle,” said Samadi. “This is the first time that we actually see a team bringing a proposal like this to their community at such an early stage into their journey.”
Community-based governance and decentralized autonomous organizations (DAOs) have evolved like everything else in the crypto space. As well as day-to-day decision making and software updates, decentralized governance structures vote on big choices relating to fundraising and stakeholders being added to the community.
The proposed $10 million investment would be made by Pompliano’s new asset management firm, Pomp Investments. Until last September, Pompliano was in charge of investments into crypto at Morgan Creek Digital Assets.
Related:Coinbase Announces New Presence in India Even as Potential Ban on Crypto Looms
It’s worth noting that Sovryn is a buzzy project and earlier this month the community chose to sell$10 million worthof its SOV tokens. There are also conditions such as an extended lock-in period of 16 months for tokens.
While the investment itself is about bringing DeFi to Bitcoin, Pompliano agreed this marks a new chapter in decentralized investing.
“You will see more proposal-based investment as the crypto industry deepens, with decentralized communities deciding on investments rather than traditional, centralized and founder-based decision-making,” Pompliano said in an interview.
“DeFi” is the umbrella term for the exchange of cryptocurrencies or the lending and borrowing of them, carried out using business rules set out in computer code, which have typically flourished on the Ethereum public blockchain.
The Bitcoin blockchain, a straight up peer-to-peer payment network, is not the natural home for transactions that lock up funds, include outside data feeds and pay yields on assets. This requires some extra bells and whistles, which Sovryn adds in the form of parallel and uncluttered channels and enjoy the same unbreakable security as Bitcoin.
Sovryn project creator Edan Yago echoed Pompliano’s view of this as a new approach to investing.
“Many projects that are waving the flag of decentralization, but most of them ultimately have some kind of prime mover behind it,” Yago said in an interview. “I think one of the really interesting things with Sovryn is how radically and seriously the community takes this idea that there is no central authority behind the project.
• Bitcoin-Based DeFi Project Sovryn Near Agreement on $10M Investment From ‘Pomp’
• Bitcoin-Based DeFi Project Sovryn Near Agreement on $10M Investment From ‘Pomp’ || Goodyear Acquires Tiremaker Rival Cooper For $2.5B: Goodyear Tire & Rubber Co (NASDAQ: GT ) is acquiring rival Cooper Tire & Rubber Co (NYSE: CTB ) for $2.5 billion. Akron, Ohio-based Goodyear was founded in 1898 and employs about 62,000 people working in 46 facilities in 21 countries. Findlay, Ohio-based Cooper Tire was founded in 1914 and has a 10,000-person workforce spread across 10 manufacturing facilities in 15 countries. What Happened: The combined company will be headquartered in Akron and have approximately $17.5 billion in pro forma 2019 sales. In a statement released by the companies, the acquisition was defined as being able to “leverage the strength of Goodyear original equipment and premium replacement tires, along with the mid-tier power of the Cooper brand, which has particular strength in the light truck and SUV segments.” The combined company is also expected to have a stronger presence in the Chinese automotive market by creating a broader distribution for Cooper replacement tires. Goodyear predicted the acquisition will produce approximately $165 million in run-rate cost synergies within two years after the deal closes. Goodyear shareholders will own about 84% of the combined company, while their Cooper counterparts will own about 16%. Why It's Important: “This is an exciting and transformational day for our companies,” said Richard J. Kramer, Goodyear chairman, president and CEO. “The addition of Cooper’s complementary tire product portfolio and highly capable manufacturing assets, coupled with Goodyear’s technology and industry leading distribution, provides the combined company with opportunities for improved cost efficiency and a broader offering for both companies’ retailer networks. Kramer continued, saying the combination will provide enhanced service for customers, while delivering shareholder value. Brad Hughes, Cooper president and CEO, added that the transaction “represents an attractive opportunity to maximize value for our shareholders, who will receive a meaningful premium as well as the opportunity to participate in the upside of the combined company.” Story continues Goodyear's stock closed up 21% at $16.82 per share, while Cooper's stock closed up 29.4% at $56.64. (Photo courtesy Goodyear) See more from Benzinga Click here for options trades from Benzinga MrBeast Holds Twitter Drawing For K In Bitcoin Barack Obama, Bruce Springsteen Launch Spotify Podcast Series © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Japan’s SBI in Talks Over Joint Venture to Make Crypto a Core Revenue Source: SBI Holdings, a major Japanese financial services firm, is currently in discussions with foreign financial firms to establish a cryptocurrency joint venture.
According to areportfrom Reuters on Monday, the venture aims to expand the firm’sexisting cryptocurrency endeavorsinto a significant revenue stream.
SBI’s founder and CEO Yoshitaka Kitao said his firm would “definitely” turn the venture into a core earner for SBI, while adding his firm is considering large scale mergers and acquisitions (MA).
Related:Bitcoin Sets Fresh Record Above $50K Pushing Yearly Gains to 69%
While Kitao noted at least two deals were on the table for discussion with possible joint-venture partners, he declined to disclose further details.
The plans were apparently prompted by cryptocurrency’s entrance into the financial mainstream. “Institutional investors – mainly hedge funds – have recently started investing in cryptocurrencies … Not just institutional investors but also Elon Musk,” Kitao told Reuters on Friday.
Tesla, of which Musk is CEO and founder, disclosed it had bought$1.5 billion in bitcoinlast Tuesday under a new investment policy where the car company may “acquire and hold digital assets from time to time or long term.”
Kitao said in order to become “number one,” SBI’s choice would be to buy a leading company or create alliances with other major global companies.
Related:Russia's Lower House to Consider Bill on Crypto Taxation This Week
“Our MA strategy will not be something like taking minority stakes in many companies,” he said
See also:Japanese Financial Giant SBI Holdings Launches Short-Term Crypto Derivatives
• Japan’s SBI in Talks Over Joint Venture to Make Crypto a Core Revenue Source
• Japan’s SBI in Talks Over Joint Venture to Make Crypto a Core Revenue Source || The Hateful Eight: BTMX, NPXS, CHSB, THETA, ONE, VGX, CEL, RVN Biggest Losers, March 26-April 2: In this article, BeInCrypto takes a look at eight altcoins that decreased the most over the past seven days (March 26 April 2). This weeks hateful eight altcoins are: AscendEX Token (BTMX) 23.67% Pundi X (NPXS) 13.39% SwissBorg (CHSB) 10.54% THETA (THETA) 8.52% Harmony (ONE) 3.11% Voyager Token (VGX) 1.80% Celer Network (CELR) 1.31% Ravencoin (RVN) 0.17% BTMX BTMX has been decreasing since March 27 when it reached an all-time high price of $3.27. Since then, it has dropped by 60%. Despite the sharp drop, BTMX has reached a significant support level at $1.27. Its both a horizontal support and the 0.618 Fib retracement of the entire upward move. This is a likely area for a bounce, which could take BTMX towards the 0.5 Fib retracement resistance at $2.33. Nevertheless, the shape of the decrease makes it likely that this is the beginning of a new bearish impulse, which means that the upward movement has ended. BTMX Chart By TradingView NPXS On March 31, NPXS reached a high of $0.009. However, it created a shooting star candlestick , a common sign of a trend reversal. In addition, this high was combined with a bearish divergence in the RSI , and the MACD is decreasing. When combined with the previously parabolic rate of decrease, this is a potential sign that the trend has ended. If this is true, the next support levels would be found at $0.0056 and $0.0046. NPXS Chart By TradingView CHSB CHSB has been moving downwards since March 17 when it reached a high of $0.161. The drop has taken it to the support area at $0.91. While this is a strong support level, technical indicators have turned bearish. The MACD is negative, the RSI has crossed below 50, and the Stochastic oscillator has made a bearish cross. Its possible that CHSB will decrease to the next support level at $0.76 but a short-term bounce is likely prior to the breakdown. CHSB Chart By TradingView THETA On March 24, THETA reached an all-time high price of $14.96. However, it created a long upper wick the same day and decreased considerably. While it has made a few attempts at moving upwards, they have been weak. In addition, technical indicators have turned bearish, similar to CHSB. Story continues The rate of increase is completely parabolic. When combined with the bearishness from technical indicators, its possible that THETA has reached the top of its bullish cycle. In any case, some type of retracement is expected. The closest support levels are found at $9.31 and $7.51. THETA Chart By TradingView ONE On March 24, ONE reached a high of $0.22 before decreasing. It proceeded to reach an all-time high of $0.224 on March 29, but created a shooting star candlestick. These highs were combined with a bearish divergence in the RSI. In addition, the MACD has given a bearish reversal signal. Finally, the Stochastic oscillator has made a bearish cross. Therefore, its likely that ONE decreases towards support at $0.145 and could potentially even dip back $0.12. ONE Chart By TradingView VGX VGX has been decreasing since Feb. 25 when it reached a high of $7.81. The decrease has measured 45% and has taken VGX to the $4.25 support area. After deviating below it, VGX reclaimed the area and broke out from a descending resistance line. Technical indicators have begun to turn bullish, as evidenced by the potential bullish cross in the Stochastic oscillator. Therefore, its possible that VGX will increase towards a new all-time high price. VGX Chart By TradingView CELR On March 22, CELR reached a then all-time high price of $0.092. This created a shooting star candlestick and the token began to decrease. However, on March 27, CELR created a bullish engulfing candlestick, and reached another new all-time high price of $0.1034 the next day. The token is currently bouncing at the $0.078 support area. The RSI has generated a hidden bullish divergence a strong sign of trend continuation. If CELR continues increasing, the next resistance area would likely be found at $0.12 CELR Chart By TradingView RVN RVN had been moving upwards since bouncing on Feb. 28. It reached a high of $0.272 on March 16 and has been retracing since. Currently, RVN is trading just above support at $0.0184, potentially being in a parallel channel. A breakout from this channel is likely, which could take RVN back to the $0.26 resistance area. RVN Chart By TradingView For BeInCryptos latest bitcoin (BTC) analysis, click here. || Over 100 New Bitcoin ATMs Going Live Across 24 US States: Atlanta-based Bitcoin Depot is launching more than 100 newbitcoinATMs in the U.S.
• In apress releaseWednesday, the company said it is launching 115 kiosks across 24 U.S. states including 14 in Alabama, 13 in Minnesota, 12 in Florida and 12 in California in coming weeks.
• Bitcoin Depot said it has doubled its number of crypto ATMs in the last six months and now has 2,000 ATMs globally.
• Users can buy bitcoin,litecoinandethereumvia the firm’s kiosks.
• “Cryptocurrency offers a lot of opportunities for people [who] don’t have access to traditional financial services, like banks,” said the fim’s president and CEO, Brandon Mintz.
Read more:Chinese Bank Trials Digital Yuan Services at ATMs: Report
• Over 100 New Bitcoin ATMs Going Live Across 24 US States
• Over 100 New Bitcoin ATMs Going Live Across 24 US States
• Over 100 New Bitcoin ATMs Going Live Across 24 US States
• Over 100 New Bitcoin ATMs Going Live Across 24 US States || NY AG’s $850M Probe of Bitfinex, Tether Ends in an $18.5M Settlement: A closely watched legal case involving Bitfinex and Tether, with major implications for the cryptocurrency industry, has been resolved.
The New York Attorney General’s office (NYAG) has settled with Bitfinex over a 22-month inquiry into whether the cryptocurrency exchange sought to cover up the loss of $850 million in customer and corporate funds held by a payment processor.
The NYAG’s officeannounced the settlementTuesday, formally ending the inquiry that kicked off in April 2019. Under the terms of the settlement, Bitfinex and Tether will admit no wrongdoing but will pay $18.5 million and provide quarterly reports describing the composition of Tether’s reserves for the next two years. More significantly, these reports will match information Tether already provided the NYAG about its reserves. The NYAG will bring no charges as part of the settlement.
Related:Paxos Plans to File for a Clearing Firm License
In a statement, New York Attorney General Letitia James said, “Bitfinex and Tether recklessly and unlawfully covered up massive financial losses to keep their scheme going and protect their bottom lines. Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie.”
The settlement may help resolve, one way or another,a question that has long bedeviled the entire $1.6 trillion global cryptocurrency market. By requiring Tether to provide a greater level of transparency than ever about the backing of its USDT stablecoin – a foundational piece of crypto’s plumbing – the arrangement could replace whispers and conjecture with regular data. Depending on the level of detail provided, investors could have better tools to evaluate the claim that the company has been printing unbacked tokens toartificially drive upthe price of bitcoin, the market’s bellwether.
According to the settlement, the NYAG claims Bitfinex and Tether held a portion of Tether’s reserves in trust for several months in 2017 and failed to disclose its troubles with Crypto Capital Corp. in a timely manner in its findings of fact. The NYAG also found fault with a blog post Bitfinex published after the inquiry was first announced, where the exchange said the funds held by Crypto Capital have been “seized and safeguarded.”
Charles Michael, a partner at law firm Steptoe & Johnson LLC who represented the companies in the inquiry, said the settlement “resolves allegations about public disclosures” around Tether’s loan to Bitfinex.
Related:Market Wrap: Bitcoin Settles Around $47K After Biggest 2-Day Rout in 11 Months
“To the Attorney General’s office’s credit, after two and a half years of investigation, [its] findings are limited only to the nature and timing of certain disclosures,” Michael said. “And contrary to online speculation, there was no finding that Tether ever issued tethers without backing or to manipulate crypto prices.”
However,the settlement said, “As of Nov. 2, 2018, tethers were again no longer backed 1-to-1 by U.S. dollars in a Tether bank account, because a substantial portion of the backing in the Deltec account had been transferred to Bitfinex to make up for the funds taken by Crypto Capital, while the corresponding funds transferred from Bitfinex’s Crypto Capital account to Tether’s Crypto Capital account were impaired by Crypto Capital’s actions.”
The $18.5 million that the companies are paying as part of the settlement “should be viewed as a measure of our desire to put this matter behind us and focus on our business,” Bitfinex and Tether General Counsel Stuart Hoegner said in a statement.
He said Tether “voluntarily” provided the NYAG with information about Tether’s reserves, and will continue to do so for two years.
“We proposed that as part of the settlement agreement, we would disclose – both to the Attorney General’s Office and to the public – additional information about Tether’s reserves on a quarterly basis,” Hoegner said.
The disclosures will include the breakdown of cash and cash equivalents that are in the reserves. It’s unclear whether this will take the form of attestations or some other type of update, or whether a third-party auditor or law firm will write the reports. The settlement only said the disclosures will “substantially” match what the companies provided the NYAG during its investigation. Bitfinex and Tether must also disclose any information about fund transfers between themselves.
“Putting aside the Attorney General’s characterization of these disclosure issues as misrepresentations or violations of any legal obligation, the Attorney General’s Office concluded, in essence, that Bitfinex and Tether could have done better in publicly disclosing these events,” Michael said.
New York Attorney General Letitia Jamesannouncedthe legal inquiry in the spring of 2019, revealing that Bitfinex had lost access to nearly $1 billion and covered up the losses using funds from its sister firm Tether. Tether, which shares ownership and key executives with the exchange, loaned Bitfinex $550 million and extended a line of credit.
The NYAG inquiry secured an injunction to freeze this line of credit, prevent any further fund transfers and force the companies to turn over any documentation about the deal, which both firms objected to in court. A judge ruled in favor of the NYAG, which subsequently won an appeal as well.
Ultimately, the companies turned over more than2.5 million documents, Hoegner said.
“The loan was made to ensure continuity for Bitfinex’s customers. It hassince been repaidearly and in full, including interest. At no point did the loan impact customers, or Tether’s ability to process redemptions,” Michael said.
The NYAG inquiry did not lessen demand forUSDT, the dollar-pegged stablecoin issued by Tether. Since the case began the value of the dollar-pegged tokens in circulation has grown from $2 billion to over $34 billion, according to Tether’stransparency page.
The price ofbitcoinhas more recently gone on a tear, rising to a new all-time high over $58,000.
“We are pleased that our customers have shown loyalty and commitment to our businesses over the past two years, while this investigation was ongoing. … We look forward to both companies continuing to lead the industry and serve our customers,” Hoegner said.
Since the case entered the public sphere, Bitfinex hastried to recoverthe funds held byCrypto Capitalheld by law enforcement officials in Portugal, Poland and the U.S. It’s unclear how long it might take for these cases to resolve, given the different jurisdictions and the ongoing cases against Crypto Capital’s operators.
Last year, Bitfinex filed for subpoenas in three different states, seeking to depose banks that may have held funds for the payment processor.
At the time,Hoegner told CoinDeskthrough a spokesperson that the efforts were “aimed squarely at obtaining further information” about Crypto Capital and its funds. “Bitfinex is the victim of a fraud and is asserting its rights to funds taken by Crypto Capital through legal measures initiated in various countries.”
The exchangehas been granted some of these subpoenas. The Bitfinex settlement is among the largest in crypto history.EOSbuilder Block.one settled with the SEC for$24 million in 2019on allegations its $4 billion token sale was an unregistered securities offering. Telegram, at the time an aspiring digital currency issuer,also settled with the SECfor $18.5 million after raising $1.2 billion for the TON network, which was ultimately scrapped.
UPDATE (Feb. 23, 2021, 13:15 UTC):Updated with additional context.
• NY AG’s $850M Probe of Bitfinex, Tether Ends in an $18.5M Settlement
• NY AG’s $850M Probe of Bitfinex, Tether Ends in an $18.5M Settlement
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 59057.88, 58192.36, 56048.94, 58323.95, 58245.00, 59793.23, 60204.96, 59893.45, 63503.46, 63109.70
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Latest Bitcoin SV price and analysis: About Bitcoin SV Bitcoin SV (BSV) is currently trading at around $66 with a price increase of 0.38% against USD and 0.33% against Bitcoin over the last 24hrs. Bitcoin SV came into existence following the Bitcoin Cash chain split on November the 15th 2018. The chain split was caused at two competing software implementation for the Bitcoin Cash blockchain (Bitcoin ABC and Bitcoin SV) broke away from consensus, and was subsequently supported by two different groups of miners. After the time of the fork, users could claim tokens on each side of the fork if they had previously held tokens on the old Bitcoin Cash chain. Bitcoin Cash ABC is now being recognised by most exchanges as Bitcoin Cash (the name of the original prefork currency) with a separate listing for Bitcoin Cash SV. We covered the fork extensively and you can track the birth of Bitcoin Cash SV from our coverage: Your guide to the tools you’ll need to monitor the Bitcoin Cash hard fork By Nawaz Sulemanji – March 14, 2019 BREAKING NEWS: Bitcoin Cash hard fork has officially happened By Nawaz Sulemanji – March 14, 2019 Why the Bitcoin Cash hard fork has been a resounding success By Oliver Knight – March 14, 2019 Bitcoin Cash fork drama isn’t over yet By Nawaz Sulemanji – March 14, 2019 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 . The post Latest Bitcoin SV price and analysis appeared first on Coin Rivet . || NYSE Owner: Bakkt is Our ‘Moonshot’ Bitcoin Bet: Bitcoin trading platform Bakkt is a “moonshot bet” for Intercontinental Exchange, the parent company of the New York Stock Exchange. That’s the assessment of NYSE chairman Jeff Sprecher, who’s also the CEO of ICE.
While its launch has beendelayedseveral times, Sprecher is optimistic that Bakkt will be worth the investment that ICE is making to nurture it. Sprecher made the remarks during a February 8conference callto discuss ICE’s fourth-quarter earnings.
“It’s a bit of a moonshot bet and it’s been organized in a manner that is very different than the way ICE typically does businesses.” || Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 26/01/19: Bitcoin Cash ABC Sees Red Again Bitcoin Cash ABC slipped by 0.74% on Friday, following on from a 1.7% fall on Thursday, to end the day at $127.05. A bearish start to the day saw Bitcoin Cash ABC fall from an early morning intraday high $128.35 to an intraday low $125, calling on support at the first major support level at $125.94 before recovering to an afternoon high $127.33. Bearish sentiment across the broader market weighed, Bitcoin Cash ABC seeing its weeks gains reduced to 3.5%. At the time of writing, Bitcoin Cash ABC was up 0.29% to $127.42, with a bullish start to the day seeing Bitcoin Cash ABC rise from a morning low $125.71 to a high $127.42, Bitcoin Cash ABC coming within range of the first major support level at $125.25 early on in the day. For the day ahead, a hold onto $127 levels through the morning would support a run at $128 levels to bring the first major resistance level at $128.6 into play, with a broad based crypto rally likely to see Bitcoin Cash ABC take a run at $130 levels and the second major resistance level at $130.15 before any pullback. Failure to hold onto $127 levels through the morning could see Bitcoin Cash ABC hit reverse later in the day, with a fall back through to $125 levels likely to see Bitcoin Cash ABC call on support at the first major support level at $125.25 before any recovery. We would expect Bitcoin Cash ABC to steer clear of sub-$125 support levels, barring a broad based sell-off later in the day. Litecoin Bucks the Trend Litecoin rose by 0.8% on Friday, following on from a 2.75% gain from Thursday, to end the day at $32.73. Bearish through the morning, Litecoin fell from an early morning intraday high $32.95 to an early afternoon intraday low $31.84 before finding support late in the day. Bucking the trend from the broader market, Litecoin broke back through to $32 levels late in the day, reversing the days losses to leave Litecoin up 6.93% for the current week. Story continues At the time of writing, Litecoin was up 0.21% to $32.80, with moves through the early hours seeing Litecoin fall from a start of a day morning high $32.90 to a morning low $32.51 before recovering, the major support and resistance levels left untested early on. For the day ahead, a hold above the morning low $32.51 through to the early afternoon would support a run at $33 levels to bring the first major resistance level at $33.17 into play. We would expect Litecoin to fall short of $34 levels on the day, in the event of a rally, with the second major resistance level at $33.62 there to pin Litecoin back from a breakout. Failure to hold above $32.51 could see Litecoin slide through the first major support level at $32.06 to $31 levels, with a broad based crypto sell-off likely to bring the second major support level at $31.40 into play before any recovery. Ripple Slides Back Ripples XRP fell by 1.13% on Friday, reversing a 0.89% gain from Thursday, to end the day at $0.31949. A particularly bearish start to the day saw Ripples XRP slide from an early morning intraday high $0.32647 to a late morning intraday low $0.31445 before finding support. The moves through the morning saw Ripples XRP slide through the first major support level at $0.3187 to call on support at the second major support level at $0.3143. The early morning high saw Ripples XRP fall short of the first major resistance level at $0.3268. At the time of writing, Ripples XRP was up 0.24% to $0.32027, with a bullish start to the day seeing rise from a morning low $0.31921 to a morning high $0.32085, the days major support and resistance levels left untested early on. For the day ahead, a hold onto $0.32 levels through the morning would support a run at the days first major resistance level at $0.3246, while we would expect Ripples XRP to continue to fall short of $0.33 levels, with the second major resistance level at $0.3298 there to pin Ripples XRP from a breakout. Failure to hold onto $0.32 levels could see Ripples XRP hit reverse later in the day, with a pullback through the morning low $0.31921 likely to bring the first major support level at $0.3144 into play. We would expect Ripples XRP to steer clear of sub-$0.31 levels, with the second major support level at $0.3093 there to limit heavier losses on the day. Buy & Sell Cryptocurrency Instantly This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Prediction Gold Surges as the Euro Rises AUD/USD Weekly Price Forecast Australian dollar bounces Silver Weekly Price Forecast Silver markets pulled back to find support USD/JPY Weekly Price Forecast US dollar stagnant against Japanese yen for the week S&P 500 Weekly Price Forecast stock markets rally to close the week Natural Gas Weekly Price Forecast natural gas markets show support || Crypto Winter Freezes New York Bitcoin Mining Industry: A unique characteristic of many upstate New York cities is their low energy rates. Hydroelectric dams along the St. Lawrence river give residents electricity so cheap that many even heat their homes with it. The region made perfect sense for crypto miners during the “gold rush” days of 2017 and early 2018, and the increased demand from the Bitcoin mining industry created the problem of increased electricity demand driving up the costs.
Some municipalities like Lake Placid put a ban in place, learning from the experience of nearby communities like Plattsburgh. However, last year the New York State government ruled thatpower providers could charge minersmore for electricity, to offset costs for locals. This, combined with an extended bear market for the proceeds of mining, has led to many of them closing up shop.
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According toAlbany Times-Union writer Rick Karlin, just one major operation remains in the region,Coinmint. The company has two facilities in Plattsburgh and one other opening in Massena, New York. The company is currently in the process of launching an ICO. Hopefully, it doesn’t go the way of the WATT token. Reportedly, the company’s laid off just 15 people during the Crypto Winter so far.
Some people cited in the article are working on dual-purpose mining technology, using the heat generated as a supplemental heating source. A local named Ryan Brienza says that bans on mining expansion put a damper on his plans, but that he is working hard to create a solution which uses crypto miners to heat homes.
New York, of course, is not the only place to have a decline in crypto mining. Globally speaking, the number of miners has dropped.
The network difficulty for Bitcoin saw a steep drop in October and has not yet recovered to those levels. The network difficulty is a good way to measure the number of miners and hashpower on the network: the higher the number, the more miners and hashpower going into Bitcoin. October, of course, was when Crypto Winter turned truly frigid, as the price began to drop dramatically.
Read the full story on CCN.com. || Xena exchange to launch first-ever leveraged derivative contract on Gram: The Xena exchange platform has announced it is ready to launch the first-ever leveraged cryptocurrency-settled derivative contract for Telegrams Gram token. Telegram is an encrypted chat platform founded in 2013. Telegrams side project Telegram Open Network (TON) as well as its native Gram token are expected to be integrated within the blockchain-based application. The Xena exchange was founded by former employees of well-known investment banks and technology banks including JP Morgan, Deutsche Bank, Russian Stock Exchange, and Kaspersky Labs. A recent press release claims the move is a significant step towards improving the liquidity of Gram. Telegram TON project investors will be able to trade the derivative contracts before the Gram tokens are issued. The Telegram TON blockchain project raised $1.7 billion from private investors. It held its initial coin offering (ICO) in 2018. Anton Kravchenko, CEO of the Xena exchange, commented: This is a significant step for the entire crypto market, considering the importance of the Gram token and its potential value as an asset for derivative contracts trading. This is the first time on the cryptocurrency market where contracts have been used not only to speculate on the rate changes, but also to hedge the risks. The move will provide people with the opportunity to invest in crypto through contracts and aims to attract institutional investors. Bitcoin to US dollar (USD) will be the first derivative contract to be launched. The Xena exchange currently issues institutional-grade derivative contracts known as Xena Listed Perpetuals, which are designed to focus on crypto market specifics. They allow for high leverage (up to 100x) while utilising built-in mechanics to protect traders against sudden price swings and unnecessary liquidations. In traditional markets, derivatives trading is 10 times higher than the volume of underlying assets. Derivatives, such as tradable indices and futures, are useful for hedging as well as for leveraging trading profits, says Kravchenko. Story continues The indices simplify investments and reduce the risks for investors due to diversification. Thus, we really support the development of this side of the Xena exchange with Bitcoin and Gram contracts as the first step. Interested in reading more exchange-related news? Discover how the London Stock Exchange listed a blockchain exchange-traded fund (ETF). The post Xena exchange to launch first-ever leveraged derivative contract on Gram appeared first on Coin Rivet . || Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 03/02/19: Bitcoin Cash ABC Hits $120 Bitcoin Cash ABC rallied by 4.51% on Saturday, following on from a 1.1% rise on Friday, to end the day at $120. A bullish start to the days saw Bitcoin Cash ABC rally from a mid-morning intraday low $114.63 to a late morning intraday high $120.79 before easing back to $117 levels in the early afternoon. The early rally saw Bitcoin Cash ABC break through the first major resistance level at $117.64 to come up against the second major resistance level at $120.51 before falling back. A late bounce back saw Bitcoin Cash ABC break back through the first major resistance level to $120 levels by the days end. At the time of writing, Bitcoin Cash ABC was down by 0.31% to $119.64. Moves through the early morning saw Bitcoin Cash ABC fall from a start of a day morning high $119.80 to a morning low $118.68 before recovering to $119 levels. The days major support and resistance levels were left untested early on. For the day ahead, a hold onto $119 levels through the morning would support another break through to $120 levels. Support from the broader market would be needed for Bitcoin Cash ABC to breakout from $120 levels to take a run at the first major resistance level at $122.32, with Saturdays high $120.79 likely to deliver plenty of resistance. Failure to hold onto $119 levels could see Bitcoin Cash ABC fall through 118.50 to bring $116 levels and the first major support level at $116.16 into play before any recovery. Heavier losses are not expected in the event of a sell-off. Litecoin Targets $35 Litecoin rallied by 5.69% on Saturday, following a 3.58% gain from Friday, to end the day at $34.18. It was particularly range-bound through the majority of the day, with Litecoin seeing a morning low $32.19 and morning high $33.09 ahead of an end of day surge. Leaving the major support levels untested through the day, Litecoin rallied to a late intraday high $34.18. Litecoin broke through the first major resistance level at $33.53 to hit $34 levels for the first time since 10 th December, while coming up short of the second major resistance level at $34.69. Story continues At the time of writing, Litecoin was down 0.82% to $33.90. Litecoin fell from a start of a day morning high $34.58 to a morning low $33.67 before steadying. The days major support and resistance levels were left untested early on. For the day ahead a hold above $33.50 levels through the morning would support a move back through to $34 levels to bring the first major resistance level at $34.84 into play. The bulls will be eyeing $35 levels, with support from the broader market needed to give Litecoin a run at the second major resistance level at $35.51. Failure to hold above $33.50 levels could see Litecoin slide back through to $32 levels to call on support at the first major support level at $32.85. Barring a broad-based crypto sell-off, we would expect Litecoin to avoid sub-$32 support levels on the day. Ripple Sees a Choppy Week Continue Ripples XRP rose by 1.01% on Saturday, reversing a 1.04% from Friday, to end the day at $0.31570. A relatively choppy day saw Ripples XRP fall from a morning high $0.31528 to an early afternoon intraday low $0.30743 before finding support. Holding above the first major support level at $0.30310, Ripples XRP moved back through to $0.31 levels ahead of a late in the day broad-based crypto rally. Ripples XRP struck an intraday high $0.31884, coming within range of the first major resistance level at $0.31970 before easing back. At the time of writing, Ripples XRP was down by 1.05% to $0.31240. Ripples XRP fell from a morning high $0.31768 to a morning low $0.31183 before finding support. The days major support and resistance levels were left untested early on. For the day ahead, a move back through $0.3140 levels to the morning high $0.31768 would be needed to bring the first major resistance level at $0.3206 into play. Ripples XRP would need support from a broad-based crypto rally to take a run at the second major resistance level at $0.3254. Saturdays high $0.31884 will likely place plenty of resistance to leave $0.33 levels off the table for the day. Failure to move back through $0.3140 could see Ripples XRP take a bigger hit later in the day. A fall through the morning low $0.31183 could see Ripples XRP pullback to $0.30 levels to bring the first major support level at $0.3091 into play. We would expect the second major support level at $0.3026 to be left untested on the day. Buy & Sell Cryptocurrency Instantly This article was originally posted on FX Empire More From FXEMPIRE: The Week Ahead Brexit, The BoE, The RBA and Trump in Focus Natural Gas Weekly Price Forecast natural gas markets continue to show weakness USD/JPY Weekly Price Forecast US dollar mixed during the week against yen Gold Price Prediction Prices Consolidate Following Robust US Payroll Report S&P 500 Weekly Price Forecast stock markets continue to grind higher Live Market Trading Strategies Webinar February 05 || Bitcoin Price Fights for $3,600 as Crypto Market Remains Sluggish: ByCCN.com: It was another relatively boring trading day in the cryptosphere, at least as far as the major coins go. Way down the list we saw some serious activity in Monero, Dash, Aelf, and something called Holo. As far as Bitcoin and the top 5 coins go, prices remain virtually unchanged from yesterday.
BitMEXconducted a plurality of the day’s trading onBitcoin, with around 12% of the total volume. The performance of the OG crypto there didn’t bode well for the rest of the market. At the time of writing, it was $3,568, indicating a slide for the rest of the markets might be impending.
The chart above is from OKCoin, which conducted only 1% of the overall volume and had a price almost $100 higher by the time of writing. The TSI on that market read out at -7, an improvement over yesterday.
Read the full story onCCN.com
. || Trader: Bitcoin and Ethereum’s Block Reward Halving Will Create Bullish Momentum: In the past 72 hours, the valuation of the crypto market increased by $3 billion to $114 billion as Bitcoin and Ethereum slightly recovered.
Both Bitcoin and Ethereum rebounded by around 3 percent since January 29 and currently remain volatile in a tight price range.
Source: CoinMarketCap.com
A trader with an online alias “Moon Overlord” suggested that given the historical performance of major cryptocurrencies, the block reward halving of Bitcoin, Litecoin, and Ethereum could allow the three digital assets to recover strongly in the mid-term.
Read the full story onCCN.com. || Poll: 63 Percent of Senior Execs Lack Understanding of Blockchain Tech: In a survey of institutional investors by the Global Blockchain Business Council (GBBC), 63 percent of respondents believe that senior business executives have a poor understanding of blockchain technology. Cointelegraph acquired a copy of the study on Jan. 22. In December and January the market research company PollRight interviewed 71 institutional investors , including private equity, hedge funds and pension funds on behalf of GBBC — a trading association for the blockchain ecosystem. While most respondents believe that senior business executives do not understand blockchain, 30 percent consider their knowledge of the emerging technology as “average.” The remaining 7 percent described senior executive understanding of blockchain as “good.” Moreover, 76 percent of respondents claimed they do not feel that senior business executives at large firms are committed to blockchain, but expect global expenditures on blockchain technology to increase by 108 percent in 2019. 33 percent of respondents believe that in two years, the application of blockchain in financial services and banking will dramatically increase. The participants of the survey also named digital identity and healthcare as fields which will be significantly impacted by blockchain technology. As Cointelegraph previously reported , some high-profile crypto bulls expect institutional demand for cryptocurrencies to drive the industry forward in 2019. In October Mike Novogratz , an ex- Goldman Sachs partner and founder of crypto merchant bank Galaxy Digital , said that institutional demand will bring Bitcoin ( BTC ) to new highs in Q1 or Q2 2019. However, last month Bloomberg reported that major Wall Street institutions were delaying plans to enter the crypto space, as the values of major cryptocurrencies continue to fall into the new year. Insiders told Bloomberg that Goldman Sachs, Morgan Stanley , and Citigroup gave up their crypto plans until a time when demand is higher. Related Articles: StanChart’s Singapore Unit Completes First Blockchain-Powered Trade Finance Deal $20 Million Funding Round in Blockchain Firm Symbiont Includes Citigroup and Nasdaq Crypto Custodian Backed By Andreessen Horowitz and PayPal Co-Founder Launches US Crypto Exchange Launches Spot Trading for Institutional Investors || 5 Harsh Truths No Crypto Investor Wants to Hear But Ignores at Their Peril!: crypto bitcoin cryptocurrency investing crypto bitcoin cryptocurrency investing Theres no shortage of optimism in the cryptocurrency and blockchain world so much so that cold, harsh truth starts to become a rare commodity. With that in mind, lets take a sobering look at five truths cryptocurrency investors dont want to hear, no matter how much they should. 1. In a World of Bitcoin Experts, Nobody Knows Anything crypto bitcoin expert In the cryptosphere, most experts are self-appointed. | Source: Shutterstock In the cryptosphere, most experts are self-appointed. A select handful of personalities have won the trust of the average crypto enthusiast, but those are few and far between. Read the full story on CCN.com .
[Random Sample of Social Media Buzz (last 60 days)]
Prominent Crypto Investor Expects “Choppy Waters” For Bitcoin Over 2019 - newsBTC http://j.mp/2CzwtGE || My parents' perception of me
http://ElixiumCrypto.com/35/
Register Now & Start Buying & Selling Cryptocurrency
#Crypto #Cryptocurrency #Bitcoin #BTC #Ethereum #ETH #Ripple #XRP #EOS #Stellar #Litecoin #LTC #Cardano #Monero #TRON #IOTA #Dash #Tezospic.twitter.com/WQiW3d9Aky || #ETH
Buy at #Bittrex and sell at #Bitfinex. Ratio: 2.04%
Buy at #Bittrex and sell at #EXMO. Ratio: 2.07%
Buy at #Binance and sell at #EXMO. Ratio: 2.29%
Buy at #Sistemkoin and sell at #EXMO. Ratio: 2.00%
#bitcoin #arbitrage #arbitraj #arbingtool
http://arbing.info || Top 5 #cryptocurrencies
Alert Time: 2019-01-19 08:10:02
#Bitcoin: $3,670.303
#XRP: $0.327
#Ethereum: $121.800
#BitcoinCash: $128.794
#EOS: $2.471
#instaairdrop #altcoin #SmartCash $QRL #rthttp://www.coincaps.ai || bitcoin-qt 0.17.0-1 (x86_64/Community)
"Bitcoin is a peer-to-peer network based digital currency - Qt"
<2019-01-24> || 1H
2019/01/26 06:00 (2019/01/26 05:00)
LONG : 29020.42 BTC (-3.94 BTC)
SHORT : 24011.72 BTC (+10.38 BTC)
LS比 : 54% vs 45% (54% vs 45%) || Hello humans, as of Sat Mar 2 00:30:13 CST 2019, current #cryptocoin prices:
#bitcoin is $3864.273
#dash is $83.3602
#dogecoin is $0.002
#ethereum is $135.9108
#iota is $0.2937
#litecoin is $47.8796
#ripple is $0.3173 || Crypto Markets Unphased by Latest ETF Withdrawal via coindesk http://bit.ly/2sGVrQ5 pic.twitter.com/CtHIzTRCHF || このインジは僕が販売してる「千里眼」ってインジです。詳細は僕のアカウントのピン留されたツイート見てください。
BTC,XRP,LTC,EOS,ETHでのみ利用可能です。 || I liked a @YouTube video http://youtu.be/v2h-yCWClHg?a Why Bitcoin Is The Best Investment Of The Decade! 100x [Sound Hard Money]
|
Trend: no change || Prices: 4025.23, 4032.51, 4071.19, 4087.48, 4029.33, 4023.97, 4035.83, 4022.17, 3963.07, 3985.08
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on 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 2016-10-12]
BTC Price: 636.19, BTC RSI: 69.71
Gold Price: 1251.10, Gold RSI: 26.73
Oil Price: 50.18, Oil RSI: 61.99
[Random Sample of News (last 60 days)]
A Harvard Professor Studied Infamous White-Collar Criminals. Here’s What He Learned.: Who knows what evil lurks in the hearts of men? Eugene Soltes does, at least if the men are disgraced corporate executives. Soltes, an associate professor at Harvard Business School, struck up relationships--mainly by phone, email, and letter--with close to 50 prominent white-collar criminals in order to learn what made them tick, why they blew it all, and what, if anything, distinguishes them from us. He eventually got to knowPonzi schemers Bernard Madoffand Allen Stanford, former Tyco CEO Dennis Kozlowski, Enron CFO Andy Fastow, ImClone CEO Samuel Waksal, McKinsey partner Anil Kumar, KPMG partner Scott London, and many others.
The resulting book,Why They Do It: Inside the Mind of the White-Collar Criminal(Public Affairs, 447 pages), comes out October 11. For this article, Soltes also struck up a brief telephone relationship withFortunelegal affairs writer Roger Parloff, though he has not yet been convicted of anything.
Fortune: When did you start working on this project and why?
The project began almost a decade ago, although at the time it wasn't even a scholarly endeavor. It was just my curiosity. I was a graduate student, finishing my doctorate at the University of Chicago School of Business. One night I was working on my dissertation, which involved a large empirical dataset, and was waiting for some data output. I was watching TV and came across a show on MSNBC calledLockup--a cross between a reality and documentary show.
It was about criminals--mostly violent offenders. From this I started wondering: What about all the nonviolent offenders--like the executives I'd read about in the papers. That spurred me to write down the first ten questions that came to mind and to send letters to a number of prominent white-collar criminals. That led, down the road, to this project.
Were most the white-collar criminals fundamentally like you and me, or were they sociopaths?
By and large, they were like us. That's one of the main things I took away in this project.
Once they've been indicted or convicted, we tend to distance them from ourselves and say we'd never do this. We're not like them. But when we look at their errors more carefully, they're actually ones we are all susceptible to making. The main difference is that we are not generally in those types of leadership positions that when we make an error it actually has that kind of cataclysmic consequences on thousands or tens of thousands of people.
The main challenge that not just managers face, but that we all face as humans, is that we're not hardwired to detect harm that we're doing when the harm is distant. It's not enough to know the difference between right and wrong. One actually has to feel that one's actions are harmful to avoid going forward. So take something like insider trading. You don't see the victims. It's actually impossible in many instances to identify who those victims are. So it's not surprising that if you engage in insider trading, there's not going to be any internal alarm screaming out that you're engaging in some extraordinarily heinous crime.
So I could sit in a room all day with these executives and never be worried about them going into my back pocket and taking $5 out of my wallet. They're socialized. They wouldn't do that. Yet many of these individuals--I've held stock in some of their firms--they've taken actually far more than that out of my retirement account, or my stock account. But they don't feel any kind of deep harm in doing so. That's a discrepancy.
Was Bernie Madoff a sociopath?
Out of all the individuals I've spent time with, Madoff is different. Unlike other managers, Madoff knew his victims in intimate ways--they were family, friends, people in his religious circle.
Madoff is a brilliant individual. Cordial. Open. I see why he was such a successful manager in terms of bringing people into his fund and taking on this leadership position. But he doesn't feel a great deal of remorse for his actions. He’s simply less empathetic.
Did most people feel remorse?
Very few. That was something that did surprise me. That's something I found puzzling for awhile until I started appreciating the fact that it's hard to feel deep remorse if you don't actually see the people whom you've hurt. You read that you've harmed the integrity of the markets--but that doesn't resonate internally with us very well.
Do you think any of the people you met were actually innocent?
There were a couple cases where the penalties they faced seemed quite remarkable. One person that particularly resonated with me Scott Harkonen, the CEO of a biotech firm called InterMune. In his case they were developing a new drug for a fatal lung disease called IPF (idiopathic pulmonary fibrosis). They ran this trial. When the results came back, they found some things potentially working, and other things weren't quite so successful. They put together a press release describing all the technical detail, all the nitty gritty. But they started the press release at the top saying that the trial demonstrated that this had some success in treating IPF. A number of years later the government went after them for fraud, saying that "demonstrate" was misleading. And in his particular case, I'd say the word "suggest" would probably have been a more conservative way of framing it. But he faced up to 10 years in prison, which is what the government sought.
He received probation, but, still, the effects on his life and career are really extraordinary. He spent millions of dollars in defense. The loss of his license. The loss of his reputation.
And I look at the current political discourse, and some of the things that our potential leaders are saying, and how they frame them, and I think ofhow Scott Harkonen faced ten years in prisonbecause he used the word "demonstrate" rather than "suggest"?
The two major presidential candidates have each been accused by their critics of criminal wrongdoing. How do their personalities and temperaments stack up against those of the people in your book? [This interview took place beforedisclosure of the 2005Access Hollywoodvideoin which Republican candidate Donald Trump made lewd comments about groping women.]
There's a trait associated with being a leader of any large firm. We have people who are CEOs and CFOs come regularly to Harvard Business School and there's a lot of similarities. You don't become head of large firm by luck. There are some characteristics of temperament that allow you to get there. Temperament, discipline, and self-control are crucial.
I see momentary lapses of self-control and restraint as being one of the things that actually undermined the executives in my book. They showed discipline and self-control for decades. But we all have momentary lapses.
I think Secretary [Hillary] Clinton has said about her email server: This was a mistake. It was a lapse in judgment.
And then I think what we've seen from Mr. Trump is, he's struggling to maintain that discipline and temperament in any consistent way. It's actually being able to maintain discipline and control under stress, under different circumstances, which is, it seems to me, one of the most important characteristics of being a successful leader. This is what took down the people I've been speaking with, who are, in many cases, really remarkable individuals. Brilliant individuals. And when you see the mistakes they made, and how that has changed their lives and careers and harmed others, it is really remarkable and humbling.
So when I look at the political candidates, I think of that. It doesn't require very many mistakes to have really catastrophic consequences not only for their own careers, but for those around them. In the business context, the victims are shareholders. But in politics, the victims would be us, and citizens of the world.
See original article on Fortune.com
More from Fortune.com
• Here's Who's Most Likely to Rip Off Their Employer
• Justice Department is setting its sights on white-collar criminals
• These hackers allegedly stole insider info to make big trades
• Bitcoin's first criminal goes to prison today
• This is what white collar criminals do after prison || Indian bitcoin company raises $1.5 million from U.S., Indian investors: NEW YORK (Reuters) - Unocoin, a Bangalore-based bitcoin startup, has raised $1.5 million in funding from a mix of Indian and U.S. investors, the company announced on Thursday. The company, which runs a trading platform to buy, sell, and store bitcoins for Indian customers, said the money raised was the largest for an Indian bitcoin startup. Unocoin, which has 100,000 users and more than 30 employees, has been in operation since December 2013. Unocoin describes itself as the Coinbase of India. San Francisco-based Coinbase is the largest U.S. bitcoin company and runs an exchange and a wallet service, among other businesses. Funding came from Indian entities such as Blume Ventures, Mumbai Angels and ah! Ventures along with U.S. investors such as Digital Currency Group, Boost VC, Bank to the Future, and FundersClub. Digital Currency Group was founded by one of the top U.S. bitcoin investors Barry Silbert, while Boost VC is run by U.S.-based Adam Draper, the son of billionaire entrepreneur Tim Draper. "We needed a separate exchange for India. A few years ago when we wanted to buy bitcoin, there was nothing available in India," Sunny Ray, Unocoin's co-founder and president told Reuters in an interview. "So if you want to buy bitcoin from an international exchange, you will have to do a wire transfer from India to these international exchanges and get your bitcoin and oftentimes it takes three to five days." Unocoin raised about $200,000 in its first financing round. It started from a small hometown called Tumkur, near Bengaluru. Bitcoin, a digital currency, was trading at $604.50 on the Bitstamp platform. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Lisa Shumaker) || Indian bitcoin company raises $1.5 million from U.S., Indian investors: NEW YORK, Sept 29 (Reuters) - Unocoin, a Bangalore-based bitcoin startup, has raised $1.5 million in funding from a mix of Indian and U.S. investors, the company announced on Thursday.
The company, which runs a trading platform to buy, sell, and store bitcoins for Indian customers, said the money raised was the largest for an Indian bitcoin startup. Unocoin, which has 100,000 users and more than 30 employees, has been in operation since December 2013.
Unocoin describes itself as the Coinbase of India. San Francisco-based Coinbase is the largest U.S. bitcoin company and runs an exchange and a wallet service, among other businesses.
Funding came from Indian entities such as Blume Ventures, Mumbai Angels and ah! Ventures along with U.S. investors such as Digital Currency Group, Boost VC, Bank to the Future, and FundersClub.
Digital Currency Group was founded by one of the top U.S. bitcoin investors Barry Silbert, while Boost VC is run by U.S.-based Adam Draper, the son of billionaire entrepreneur Tim Draper.
"We needed a separate exchange for India. A few years ago when we wanted to buy bitcoin, there was nothing available in India," Sunny Ray, Unocoin's co-founder and president told Reuters in an interview.
"So if you want to buy bitcoin from an international exchange, you will have to do a wire transfer from India to these international exchanges and get your bitcoin and oftentimes it takes three to five days."
Unocoin raised about $200,000 in its first financing round. It started from a small hometown called Tumkur, near Bengaluru.
Bitcoin, a digital currency, was trading at $604.50 on the Bitstamp platform.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Lisa Shumaker) || Maine governor challenges 'son of a b----' politician to duel after leaving profanity-laced voicemail: Paul LePage (Paul LePage.AP Photo/Michael Dwyer) Maine Gov. Paul LePage challenged a state representative to "prove that I'm a racist" in a scathing, profane voicemail to the lawmaker he attacked. LePage left the wild voicemail Thursday morning after a reporter confronted him and suggested that Democratic Rep. Drew Gattine was among several who labeled the Pine Tree State governor a racist after a series of comments made by LePage throughout the year. "Mr. Gattine, this is Gov. Paul Richard LePage," began the voicemail, published Friday by The Portland Press Herald . "I would like to talk to you about your comments about my being a racist, you c---s-----. I want to talk to you." "I want you to prove that I'm a racist," he continued. "I've spent my life helping black people and you little son-of-a-b---- socialist c---s-----. You ... I need you to, just friggin' — I want you to record this and make it public because I am after you. Thank you." Listen to the voicemail: After local media obtained the voicemail, the Maine Republican invited reporters to hear him out. The governor admitted to leaving the voicemail and professed a desire to settle the dispute with Gattine in an armed duel. "When a snot-nosed little guy from Westbrook calls me a racist, now I'd like him to come up here because, tell you right now, I wish it were 1825," LePage said, according to The Press Herald. "And we would have a duel, that's how angry I am, and I would not put my gun in the air, I guarantee you, I would not be [Alexander] Hamilton. I would point it right between his eyes, because he is a snot-nosed little runt and he has not done a damn thing since he's been in this Legislature to help move the state forward." Gattine told The Press Herald that he never explicitly called LePage a racist. On Wednesday , LePage stirred up controversy when he said that for the past seven months he kept a binder in which he inserts photos of drug dealers arrested in the state. LePage said he's logged the photos in an attempt to justify racially tinged comments he made earlier this year when speaking about drug-related problems in his state. "I made the comment that black people are trafficking in our state," he said. "Now, ever since I said that comment I've been collecting every single drug dealer who has been arrested in our state." "I don't ask them to come to Maine and sell their poison, but they come," he continued. "And I will tell you that 90-plus percent of those pictures in my book ― and it's a three-ringed binder ― are black and Hispanic people from Waterbury, Connecticut, the Bronx, and Brooklyn." Story continues Paul LePage (AP) LePage said in January that "guys with the name D-Money, Smoothie," come to Maine to sell drugs and "impregnate a young, white girl." "They come from Connecticut and New York, they come up here, they sell their heroin, they go back home," he said. "Incidentally, half the time they impregnate a young, white girl before they leave, which is a real sad thing because then we have another issue we have to deal with down the road." He gave an apology for the comments in a subsequent press conference, saying that he should've said "Maine women" instead of white women. Later that month, he said convicted drug criminals should face "the guillotine." LePage is an active supporter of Republican presidential nominee Donald Trump, introducing him at multiple Maine rallies. LePage's daughter also recently accepted a position in the Trump campaign. NOW WATCH: INSTANT POLL: Americans viewed Clinton's convention speech more favorably than Trump's More From Business Insider The man who accurately predicted 5 market crashes has 3 more dates we need to worry about THE PAYMENTS INDUSTRY EXPLAINED: The Trends Creating New Winners And Losers In The Card-Processing Ecosystem Fintech could be bigger than ATMs, PayPal, and Bitcoin combined View comments || Your first trade for Friday, September 9: The " Fast Money " traders shared their first moves for the market open. Tim Seymour was a buyer of Occidental Petroleum ( OXY ) . Brian Kelly was a buyer of the Financial Select Sector SPDR Fund (NYSE Arca: XLF) . Dan Nathan was a seller of Twitter ( TWTR ) puts. Guy Adami was a buyer of Restoration Hardware (: ) , which reported quarterly numbers after Thursday's market close. Trader disclosure: On September 8, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long APC, AVP, BAC, BBRY, CLF, DAL, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GRMN, GE, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. short: SPY, XRT; Tim's firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short HYG, IWM, UAL. Dan Nathan is long TWTR, IWM long Sept put, long PYPL call calendar, XOP Sept put spread, BAC long Sept put, Long FEZ Nov put spread, long EEM Nov put spread, long FB Sept put spread, AAPL long Nov 105/95 put spread. Brian Kelly is long Bitcoin, CME, DXJ, GDX, KBE, SLV, TLT, VXX, XLF, XOP, US Dollar UUP; he is short EUR=, JPY=. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. || John McAfee's MGT receives SEC subpoena, shares slump: By Noel Randewich and Jim Finkle (Reuters) - Shares in a firm led by anti-virus software pioneer John McAfee fell 24 percent on Monday after it disclosed that it had received a subpoena from the U.S. Securities and Exchange Commission. The company, MGT Capital Investments Inc <MGT.A>, said in a statement that it was cooperating with the SEC after receiving the subpoena on Thursday and that it does not believe it is or will be subject to any enforcement proceedings. In May of this year, shares in MGT surged more than 1,200 percent after the mobile gaming company said McAfee would become its chief executive. It said it would enter the fast-growing cyber-security market through acquisitions. MGT shares fell 97 cents to $2.47 in late-afternoon trade, trimming its market capitalization to about $64 million. An SEC spokesman declined to say why it subpoenaed MGT and what information it wanted. An MGT spokesman also declined to comment. With McAfee at the helm, MGT has said it plans to acquire security technologies to address threats to mobile and personal devices. McAfee was the subject of a media frenzy in 2012 when he fled his home in Belize after police sought to question him about the murder of a neighbor. They ultimately said he was not a suspect. Chipmaker Intel <INTC.O>, which bought McAfee Inc for $7.7 billion in 2010, long after its founder had left the company, said recently that it would spin off the unit. McAfee and MGT recently sued Intel for the right to use the McAfee name. McAfee said during a conference call on Thursday that he expected MGT to begin generating revenue in the second quarter of next year after launching its first product at the end of 2016. He declined several requests from callers to provide financial projections. "I really can't say now about future revenue streams, but I certainly tell you that what we are doing and what we are building is going to be monumental," McAfee said in response to one of the questions, from a man identified as an individual investor. "Good enough for me, man. Good enough," the man replied. MGT also said it launched a Bitcoin mining operation, which involves using customized computers to earn Bitcoins in return for recording and verifying transactions in the crypto-currency. (Reporting by Noel Randewich and Jim Finkle; Editing by Dan Grebler) View comments || 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) View comments || 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) || And this is why you don’t scam a security professional on Reddit: Trying to scam someone on the internet is always a bad idea, but if that someone turns out to be the head of a security research company, you're in for a whole world of hurt. Christian Haschek is an Austrian security researcher who was trying to sell $500 in US Apple gift cards on Reddit, since they're a pain to use from overseas. He thought he had struck a deal with a buyer, but that buyer turned out to be less than honest . DON'T MISS: Reaction roundup: How angry are people about the iPhone 7’s missing headphone jack? After attempting to verify the buyer through an eBay account, Haschek mailed the cards to the buyer. He was expecting Bitcoin payment sometime soon after, but that never came. Getting angry , he messaged the verified eBay account, only to get a message denying any knowledge of the sale. At the same time, the Reddit account he had been dealing with was deleted. So, Haschek embarked on a slightly more low-key and geeky version of Liam Neeson's Taken . He used the Reddit and eBay account names to track down a Steam name, and through that, a Facebook account of the scammer's friend. He used that and some painstaking Facebook stalking to find the scammer's full name and all of his family, and that's where things got really good. He sent a message to the scammer's mom and brother outlining the situation, and said that something had to be done or he would got to the cops. Unsurprisingly, the Bitcoin for the gift cards came quickly thereafter, along with a grovelling apology. In the end, there was no harm done on either side. But it also goes to show that little on the internet is really anonymous. If you want to scam someone -- or conduct perfectly legitimate business on the internet without being found -- remember to start with brand-new accounts. You can (and should) read the full account here . Trending right now: Ultimate Pokemon Go cheat lets you walk anywhere in the game without moving an inch Apple’s dual camera system will remain an iPhone Plus exclusive with the iPhone 8 Steve Jobs’ thoughts on ‘courage’ help explain why Apple removed the iPhone 7’s headphone jack See the original version of this article on BGR.com || Big Banks Team Up to Develop Blockchain Settlement System: Wall Street's increasing focus on digital currency technology has been affirmed yet again with the recent teaming up of a group of financial giants for the development of Utility Settlement Coin (USC). It is a digital cash model based on blockchain that aims to facilitate payment and settlement for global institutional financial markets.Swiss banking giant UBS Group AG UBS and London-based Clearmatics initiated USC last September “to validate the potential benefits of USC for capital efficiency, settlement and systemic risk reduction in global financial markets”. The successful conclusion of the first phase of this project led to the joining of Deutsche Bank AG DB, The Bank of New York Mellon Corp. BK, Banco Santander, S.A. SAN and brokerage ICAP to develop the concept further. The group also plans to undertake test in a real market environment.USC is a series of cash assets implemented on distributed ledger technology and is entirely backed by cash assets held at a central bank. With a version for each of the main currencies including USD, EUR, GBP and CHF, USC would be convertible at parity with a bank deposit in the related currency. According to a joint release, spending a USC will be equivalent to spending its real-world currency.The group of financial institutions will focus on the financial structuring of the USC and its implications in the broader market. Alongside they will remain engaged in discussions with central banks and regulators to ensure a regulation compliant and efficient framework within which the USC can be implemented.Hyder Jaffrey, Head of Strategic Investment & FinTech Innovation at UBS Investment Bank stated, "Digital cash is a core component of a future financial market fabric based on blockchain technologies.” He further added, "There are several digital cash models being explored across the Street. The Utility Settlement Coin is focused on facilitating a new model for digital central bank cash."Paul Maley, Managing Director, Institutional Client Group, Deutsche Bank noted, "As today's settlement and clearing is a process involving many institutions, it's vital that we collaborate with our peers to develop viable alternatives to current models, creating new digital capabilities for the financial services industry.”Blockchain BuzzBlockchain, the “digital ledger” or the underlying technology behind Bitcoin, has gained attraction for its significant potential to revamp the extensive and complex network of bank payments as well as settlements. While Bitcoin was one of the first cryptographic currencies that drew attention in 2009, several other cryptographic currencies are currently available including Novacoin, Namecoin and Dogecoin.Last December The Goldman Sachs Group, Inc. GS filed a patent application with the US Patent & Trademark Office for a new cryptocurrency called SETLcoin. While Citigroup Inc. C is currently working on the development of its own digital currency “Citicoin,” JPMorgan Chase & Co. JPM partnered with start-up firm Digital Asset Holdings earlier this year to launch a trial project that utilizes the blockchain technology.Bottom lineThe latest development tied with Blockchain platform crops up as banks are embracing technology and are continuously looking out for ways to restructure daily operations, update back-office functions and making huge investments for auto execution of transactions. While banks and regulators continue to explore prospects and benefits of digital currencies, concerns including security and impact on the broader financial system still lingers.
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[Random Sample of Social Media Buzz (last 60 days)]
#CannaCoin #CCN $0.006574 (1.00%) 0.00001100 BTC (0.88%) || #GeoCoin #GEO $0.092780 (-3.15%) 0.00015385 BTC (-3.00%) || #UFOCoin #UFO $0.000012 (-25.38%) 0.00000002 BTC (-25.00%) || 1 KOBO = 0.00000525 BTC
= 0.0030 USD
= 0.9900 NGN
= 0.0424 ZAR
= 0.3039 KES
#Kobocoin 2016-08-25 06:00 pic.twitter.com/kZzmyfxG61 || 1 KOBO = 0.00000330 BTC
= 0.0019 USD
= 0.6460 NGN
= 0.0256 ZAR
= 0.1925 KES
#Kobocoin 2016-08-19 22:00 pic.twitter.com/HboEvcTLdY || $575.60 #btce;
$574.07 #bitfinex;
$576.75 #itBit;
$573.88 #bitstamp;
$578.59 #GDAX;
$574.00 #OKCoin;
#bitcoin news: http://bit.ly/1VI6Yse || One Bitcoin now worth $634.91@bitstamp. High $640.00. Low $614.85. Market Cap $10.109 Billion #bitcoin || #BitCoin Big Banks Band Together to Launch 'Settlement Coin': Four banks have reportedly partner... http://bit.ly/2bLqWyM #BitCoinNews || 1 KOBO = 0.00000525 BTC
= 0.0030 USD
= 0.9900 NGN
= 0.0422 ZAR
= 0.3039 KES
#Kobocoin 2016-08-25 14:00 pic.twitter.com/pqFxycfevQ || Current price of Bitcoin is $612.00.
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Trend: up || Prices: 636.79, 640.38, 638.65, 641.63, 639.19, 637.96, 630.52, 630.86, 632.83, 657.29
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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.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin Fund breaks new ground in Middle East with debut on Nasdaq Dubai: By Yousef Saba
DUBAI (Reuters) -The Bitcoin Fund debuted on the Nasdaq Dubai on Wednesday, becoming the Middle East's first listed cryptocurrency fund.
The fund, which was listed by Canadian digital asset management firm 3iQ on the Toronto Stock Exchange last year, has roughly $1.5 billion in assets under management and plans to double that next year.
"With the listing of the Bitcoin Fund, it's going to give people access in the region to this fund on the Dubai exchange in the hours that the Dubai exchange trades at," Frederick Pye, the chief executive officer of 3iQ, told Reuters.
"If the volumes are significant, we'll be looking to raise capital to increase the size of the Bitcoin Fund here in Dubai and we will continue to issue shares based on the demand that comes from the region," Pye said in an interview.
The listing will help satisfy demand for investment diversification in the region, as well as environmental, social and governance (ESG) needs, such as for pension funds and family offices, Pye said.
Dalma Capital, a Dubai-based alternative investment firm, was lead arranger for the Nasdaq Dubai listing. Corporate finance advisor 01 Capital and investment firm Razlin Capital, both based in London, advised on the listing and Pinsent Masons was legal counsel for the listing process.
"Today's secondary listing of existing units from Canada was met with very strong demand, which has validated the need for an additional offering to satisfy the demand from regional investors," said Zachary Cefaratti, CEO of Dalma Capital, declining to say when that could be.
Pye acknowledged that China's recent crackdown on mining cryptocurrencies has hit digital currency prices, but he said the timing of that move would help those who bought into the Dubai listing.
"We're very excited because when we hit an all-time high, our investors and our clients and our friends will have doubled their money," Pye added.
(Reporting by Yousef Saba, Jacob Greaves and Abdel Hadi Ramahi; Writing by Yousef Saba; Editing by Alexander Smith and Paul Simao) || HSBC CEO Says Bank ‘Not Into Bitcoin’ Due to Concerns Over Volatility: Report: HSBC CEO Noel Quinn said the bank has no plans to start a cryptocurrency trading desk or offer digital assets to its customers because the asset class is too volatile.
According to areport by Reuterson Tuesday, the bank is not promotingbitcoinand other cryptocurrencies within its wealth management business.
Quinn’s stance contrasts with that of other major global investment banks, such asGoldman Sachs, which earlier this year relaunched its crypto trading desk three years after shelving the idea in 2018.
Related:A Big Week In Crypto and Adviser Guidance in the Regulatory Environment
“I view bitcoin as more of an asset class than a payments vehicle, with very difficult questions about how to value it on the balance sheet of clients because it is so volatile,” Quinn told Reuters.
Bitcoin fell 47% last week, with the declines likely stemming from a number of investor concerns, including the decision by crypto exchange Huobi to scale back operations due toChina’s tightening regulations. The cryptocurrency is down 40.5% from its all-time highs near $64,900 and is currently changing hands for around $38,300. Year-to-date, bitcoin is up around 31% and is also 6% higher over a 24-hour period,CoinDesk 20 datashows.
Quinn also took aim at stablecoins – cryptocurrencies that have their value pegged to reserve assets such as government-issued currencies or precious metals.
Stablecoins “do have some reserve backing behind them to address the stored-value concerns, but it depends on who the sponsoring organization is plus the structure and accessibility of the reserve,” he said.
Related:Bitcoin News Roundup for May 25, 2021
Still, HSBC’s CEO was upbeat about the potential for central bank digital currencies (CBDC) within the evolving financial system.
See also:JPMorgan to Launch ‘Cryptocurrency Exposure Basket’ of Bitcoin Proxy Stocks
“CBDCs can facilitate international transactions in e-wallets more simply, they take out friction costs and they are likely to operate in a transparent manner and have strong attributes of stored value,” Quinn said.
China currently leads the world in the development of a CBDC and has earmarked the Beijing Winter Olympics next year as a potential date foreign visitors and athletes may begin using the digital yuan in earnest.
• China’s CBDC Could Give Beijing ‘Leeway for Economic Retaliation,’ Says National Security Expert
• South Africa’s Central Bank Starts Research on Retail-Focused Digital Currency || US STOCKS-S&P 500 and Dow slip as upcoming Fed meeting looms: (For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.) * Lordstown slumps after CEO, CFO resign * Tech-heavy Nasdaq outperforms S&P 500, Dow * Indexes: Dow down 0.74%, S&P off 0.26%, Nasdaq gains 0.46% (Adds comment, details; updates prices) By Medha Singh and David French June 14 (Reuters) - The S&P 500 and the Dow dipped on Monday, with the former coming off a record closing high in the previous session as a lack of catalysts ahead of this week's Federal Reserve meeting kept investors from making new significant bets. The technology-heavy Nasdaq rose for the sixth time in the past seven sessions, lifted by gains in shares of Tesla Inc, Apple Inc and Amazon.com Inc. Investors are seeking new cues from the central bank this week on its inflation outlook, after recent data indicated the U.S. economy is regaining momentum but not overheating. This has eased investor worries about inflation. While the Fed has reassured that any spike in inflation would be transitory, policymakers could begin discussing the tapering of bond buying at the Tuesday-Wednesday meeting. Most analysts, however, do not expect a decision before the central bank's annual Jackson Hole, Wyoming, conference in August. Any shift in the Fed's dovish rhetoric could upend equity markets. The S&P benchmark has climbed 13% this year, while the Dow and the Nasdaq have risen 12% and 9.6%, respectively. "As we get closer to the end of the summer, they (the Fed) are going to want to start talking about taper and telegraphing when they're going to raise rates and that's where we do have a potential for a misstep," said Max Gokhman, head of asset allocation at Pacific Life Fund Advisors in Newport Beach, California. High-growth tech-related stocks, which were at the heart of a sell-off driven by fears of rising rates, have regained their footing this month at the expense of economy-linked industrials , financials and materials stocks. Story continues Materials and financials were the biggest drags on the S&P 500 on Monday, while technology and consumer discretionary were the only sectors in positive territory. By 2:00PM ET, the Dow Jones Industrial Average fell 256.18 points, or 0.74%, to 34,223.42, the S&P 500 lost 10.99 points, or 0.26%, to 4,236.45 and the Nasdaq Composite added 64.61 points, or 0.46%, to 14,134.03. Having traded up earlier in the day as crude prices hit their highest levels in more than two years, the energy index slipped 1%. Lordstown Motors Corp tumbled 16.6% after it said Chief Executive Steve Burns and Chief Financial Officer Julio Rodriguez have resigned, days after the electric-truck maker warned that it may not have enough cash to stay in business over the next year. Tesla gained 1.8% as CEO Elon Musk tweeted that the electric car maker may resume bitcoin transactions. Bitcoin vaulted back above $40,000 on Musk's comments. The S&P 500 posted 29 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 120 new highs and 20 new lows. (Reporting by Medha Singh and Devik Jain in Bengaluru and David French in New York; Editing by Maju Samuel and Dan Grebler) || Chinas Xiongan New Area Begins Using Digital Yuan for Salary Payments: Chinas Xiongan New Area, a district that is located about 60 miles southwest of Beijing and that serves as a testing ground for new economic ideas, has started using the digital yuan, a central bank digital currency (CBDC), to pay some workers. In a statement Saturday, the Xiongan government described the digital yuan pilot as the nations first on-chain payment being used for builders wages. Xiongan said the Shijiazhuang branch of the Peoples Bank of China (PBOC) and the reform and development bureau of Xiongans management committee were involved in guiding and supporting the project. The region is using the Blockchain Fund Payment Platform to pay the wages. China has been testing digital currency trading platforms in different regions and setting up a legal framework for a CBDC with global financial regulators. The PBOC has been working on trials of its digital yuan with commercial banks and payment providers . Related Stories Chinese Province Cracks Down on Unauthorized (Not All) Bitcoin Mining Corrected: Yunnan Province Did Not Order Crypto Miners to Shut Down Developer of Chinas Blockchain-Based Service Network Gets $30M in Series A Funding Looming Death Cross Could Signal Bitcoin Bear Market || Is It Too Late To Invest In Cryptocurrency?: ©Shutterstock.com / Shutterstock.com Cryptocurrency investing has been one of the big news stories of 2021 . Although the first Bitcoin was mined way back in 2009, it wasn’t until Bitcoin millionaires began being minted that crypto started grabbing the public’s attention. Now, new coins have flooded the market, and more millionaires have been created, as some coins have rallied 1,000%, 2,000% or even more. In the midst of all of these incredible gains, the natural question is whether or not it’s too late to invest in cryptocurrency. The truth is that no one can guarantee whether crypto will rise or fall from here, as it’s an entirely new market that is neither well-defined nor well-regulated. But there are clear arguments on both sides of the coin as to whether it’s time to buy or not . Check Out: 10 Best Cryptocurrencies To Invest in for 2021 Consider: Dogecoin: Is It Still Worth an Investment? It’s Too Late: Governments Are Cracking Down One of the fears of entering the crypto market has always been that governments around the world will shut down acceptance and even production of the coins. That time may already be here. In late May 2021, China began cracking down hard on bitcoin mining and trading, which sent crypto prices cascading downwards. According to Boris Schlossberg, managing director at BK Asset Management, the primary reason for this crackdown was because “Chinese authorities are keen to see their own digital currency in the form of the yuan become the primary unit of account in the Chinese economy.” If other governments follow suit, demand and support for Bitcoin and other cryptocurrencies could falter. The Economy and Your Money: All You Need To Know It’s Not Too Late: Crypto Is Down Significantly From Its Highs If you’re a believer that the crypto market is another version of the stock market, there might be no better time to buy cryptos like Bitcoin because they are on sale. As of June 4, Bitcoin was more than 40% off its all-time high, and other cryptos had fallen by a similar amount or even more. As the history of Bitcoin has shown, massive drops like this are not at all unusual, and yet the cryptocurrency has managed to consistently climb to new highs. If you were curious about Bitcoin a few weeks ago, the current sell-off might be a chance to dip your toe into the market. Story continues Explore: What Are Altcoins — and Are the Potential Rewards Worth the Risks? It’s Too Late: Crypto Is Going To Zero Skeptics believe that cryptocurrency is an asset class with no store of value, no barrier to entry and no value as an exchange currency. As such, skeptics view crypto as simply a speculative asset class with no long-term viability as a true asset class. At a CNBC-hosted panel in Davos, Switzerland in 2019, Jeff Schumacher, founder of BCG Digital Ventures, had this to say about Bitcoin: “I do believe it will go to zero. I think it’s a great technology but I don’t believe it’s a currency. It’s not based on anything.” In 2020, famed investor Dennis Gartman offered the same assessment to Bloomberg, saying that if central banks “refuse to give up their monopoly on monetary policy, ” Bitcoin could one day plunge to zero. Read: Where Does Cryptocurrency Come From? It’s Not Too Late: Crypto Is Going To $500,000-plus Rather than seeing Bitcoin go to zero, believers like Ark Investment’s Cathie Wood suggest quite the opposite. The popular investment strategist and CEO believes that Bitcoin will actually hit $500,000. Part of the reason for Wood’s bullishness is her belief that asset managers will eventually allocate up to 5% of their portfolios to cryptocurrency. Greg Cipolaro and Dr. Ross Stevens, researchers at New York Digital Investment Group, support this belief, adding that “Increasing fundamental demand combined with a fixed supply and automatically declining supply growth make a compelling case for Bitcoin as an alternative investment for institutional investors.” The researchers are referring to the fact that the supply of Bitcoin is limited to 21 million coins. More From GOBankingRates Jaw-Dropping Stats About the State of Retirement in America How To Keep Your Financial Planning On Track in 2021 20 Home Renovations That Will Hurt Your Home’s Value 27 Things You Should Never Do With Your Money Last updated: June 9, 2021 This article originally appeared on GOBankingRates.com : Is It Too Late To Invest In Cryptocurrency? || Bitcoin Holders Become Net Buyers for First Time Since October as ‘Death Cross’ Looms: Investors with a longer-term horizon look to be boosting theirbitcoinholdings amid calls for a more profound price drop.
Glassnode data shows the bitcoin “hodler net position change,” which tracks net buying/selling activity of those holding coins for six months or more, has flipped positive for the first time since late October. Hodl is crypto slang for hold.
“It shows HODLers are buyers here,” Delphi Digital said in its daily market commentary dated June 16. “The net positions of BTC HODLers is a strong indicator of how longer-term investors are thinking about BTC.”
Related:Mining Council: We Must Counter ‘Misinformation’ About Bitcoin’s Environmental Damage
Supply held by long-term holders has increased from 11 million to more than 11.6 million in the past few weeks, according to Glassnode.
While holders are now injecting bullish pressure into the market, that does not necessarily imply a sharp rally. Past data show bullish trends mostly pick up the pace after sustained accumulation by holders.
For example, the indicator remained positive for most of 2018, which was a negative year for bitcoin, and early 2019, when the cryptocurrency remained sidelined below $5,000. Bullish mood returned to the market in the second quarter of that year, pushing the cryptocurrency to $13,880 by the end of June.
Bitcoin scaled that peak in October 2020 – after a gap of 16 months. During that period the cryptocurrency was mainly in a bearish trend, falling from $13,000 to $4,000 between August 2019 and March 2020. Holders were net buyers throughout and during the subsequent recovery, and began distributing coins in November.
Related:Market Wrap: Bitcoin Struggles Below $40K as Traders Digest Fed Statement
It remains to be seen if they will continue to be net buyers over the coming weeks and restore the battered market confidence.
Some chart analysts, though,are worriedthe cryptocurrency could see more selling in the short term because the daily plot shows the 50-day and 200-day simple moving averages (SMA) are set to produce a “death cross” (bearish crossover) in the next day or two.
According to Kraken’s research, the previous instances of death crosses on the daily chart coincided with “either a sell-off in the days that followed or a continued macro downtrend that confirmed a bear market.”
Macro funds, which bought bitcoin as a store of value,may sellif U.S. Treasury bond yields rise further. The U.S. two-year yield reached a 12-month high of 0.219% and the 10-year yield rose nearly 10 basis points to 1.59% on Wednesday after the Federal Reserve signaled a future interest rate increase for earlier than some had anticipated.
Also read:Federal Reserve Officials Raise 2021 Inflation Projection, Powell Addresses Asset Purchases
Bitcoin is currently trading at $39,450, a 2% gain on the day.
• What We Mean by ‘Adviser’: The Difference Between RIAs and IARs
• Paraguay Entertainment Group to Accept Bitcoin, Ether, SHIB Next Month || FINAL DEADLINE TOMORROW: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Canaan Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm: LOS ANGELES, CA / ACCESSWIRE / June 13, 2021 / The Schall Law Firm , a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Canaan Inc. ('Canaan' or 'the Company') (NASDAQ:CAN) for violations of the federal securities laws. Investors who purchased the Company's securities pursuant and/or traceable to the Company's initial public offering ('IPO') on or about November 20, 2019, are encouraged to contact the firm before May 4, 2020. If you are a shareholder who suffered a loss, click here to participate . We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com , or by email at [email protected] . The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. According to the Complaint, the Company made false and misleading statements to the market. Canaan claimed to engage in 'strategic cooperation' which was really just a related-party transaction. The Company was in a weaker financial position than it reported. The Company removed many distributors immediately before the IPO, many of which were of dubious quality. Many of the Company's Chinese customers were not in the Bitcoin industry and were therefore not likely to buy its products again. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Canaan, investors suffered damages. Join the case to recover your losses. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. Story continues This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics. CONTACT: The Schall Law Firm Brian Schall, Esq., www.schallfirm.com Office: 310-301-3335 [email protected] SOURCE: The Schall Law Firm View source version on accesswire.com: https://www.accesswire.com/651574/FINAL-DEADLINE-TOMORROW-The-Schall-Law-Firm-Announces-the-Filing-of-a-Class-Action-Lawsuit-Against-Canaan-Inc-and-Encourages-Investors-with-Losses-in-Excess-of-100000-to-Contact-the-Firm || 5 Must-Buy Blue-Chip Stocks in a Capricious Market: Wall Street is witnessing a spike in volatile trading this month due to market participants' concern of an impending inflation that may compel the Fed to change its ongoing easy-money stance. Moreover, a section of financial experts already raised concerns regarding an asset price bubble in the equity markets that they think are overvalued. The stock-market volatility is likely to continue in the days to come. Despite an unpredictable market, five Dow stocks with a favorable Zacks Rank are likely to provide solid returns in the near term. Investment in these stocks at this stage is likely to be prudent. Volatile Trading in May Volatility has set in Wall Street in May with growing expectations of near-term inflation. The Dow popularly known as the Blue-Chip index registered loses in four of the past five weeks. The 30-stock index reached all-time high of 35,091.56 on May 10 and thereafter slid 2% till May 24. The market's benchmark S&P 500 Index recorded two back-to-back weekly losses last week. This happened for the first time since February. The broad-market index reached an all-time high of 4,238.04 on May 7 and thereafter dropped 1% till May 24. The teach-heavy Nasdaq Composite suffered the most as inflation is likely to affect the growth-oriented sectors like the technology the most. Month to date, the index is down 2.2% while both the Dow and the S&P 500 have managed to gain marginally. The tech-laden index reached an all-time high of 14,211.57 on Apr 29 and thereafter tumbled 3.9% till May 24. Transitory Inflation May Turn Good The U.S. economy is on a recovery path in 2021 after suffering the largest yearly decline in 2020 since World War II owing to the coronavirus pandemic. However, the possibility of a faster-than-expected recovery, buoyed by a ramp up in COVID-19 vaccinations and massive fiscal and monetary stimulus, have triggered expectations of higher inflation this year. The Fed has so far reiterated that any inflation in 2021 will be temporary and will not call for adjusting its ongoing easy-money monetary stance. However, in its latest minute, the central bank has signaled that if the recovery remains very strong and price level continues to rise systematically, it may consider readjusting its policy variables. Story continues Meanwhile, a transitory inflation may be good for the U.S. economy. Higher inflation means higher aggregate demand, which will enable businesses to deploy higher capital spending and recruit more manpower. The U.S. economy is operating at a sub-optimal level since March 2020 owing to either full or partial lockdowns. The labor market, which was the best-performing segment of the economy before the pandemic, is still far below its pre-pandemic level. Higher recruitment by businesses will help the struggling labor market to stabilize faster. Moreover, businesses can generate higher profits despite raising the wage rate. The spread between higher inflation and higher wage will increase their profit and induce them to increase the scale of operation and lead to higher job creation. Impact on the Dow The U.S. economy is witnessing an impressive recovery since the beginning of 2021. Weekly jobless claims have fallen significantly in the past six reported weeks, while manufacturing and services' activities picked up. Robust pent-up demand supported by an astonishing $2.3 trillion personal savings and expectations of record-high corporate profits and GDP growth in 2021 are all indicating that the U.S. economy is rock solid. Unlike the market's benchmark S&P 500 or the teach-heavy Nasdaq Composite, the composition of the Dow is mostly inclined toward cyclical stocks. Therefore, reopening of the economy is likely to benefit the blue-chip index the most. This is evident from the fact that the Dow has rallied 12.4% year to date while the S&P 500 and the Nasdaq Composite have climbed 11.8% and 6%, respectively. Our Top Picks We have narrowed down our search to five blue-chip stocks that have strong growth potential for 2021 and solid long-term (3-5 years) growth. These stocks have seen robust earnings estimate revisions in the last 7 to 30 days. Moreover, these companies are regular dividend payers providing an important income stream during a market downturn. Finally, each of our picks carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of todays Zacks #1 Rank stocks here . The chart below shows the price performance of our five picks in the past three months. Dow Inc. DOW has an expected earnings growth rate of more than 100% for the current year. The Zacks Rank #1 company has a long-term growth rate of 27.7%. The Zacks Consensus Estimate for its current-year earnings has improved 31.9% over the last 30 days. It has a current dividend yield of 4.07%. Caterpillar Inc. CAT has an expected earnings growth rate of 47.3% for the current year. The Zacks Rank #2 company has a long-term growth rate of 12%. The Zacks Consensus Estimate for the current year has improved 17.1% over the last 30 days. It has a current dividend yield of 1.74%. The Home Depot Inc. HD has an expected earnings growth rate of 15.2% for the current year (ending January 2022). The Zacks Rank #2 company has a long-term growth rate of 11.4%. The Zacks Consensus Estimate for the current year has improved 7.7% over the last 7 days. It has a current dividend yield of 2.09%. Walmart Inc. WMT has an expected earnings growth rate of 6.8% for the current year (ending January 2022). The Zacks Rank #2 company has a long-term growth rate of 5.5%. The Zacks Consensus Estimate for the current year has improved 7.3% over the last 7 days. It has a current dividend yield of 1.55%. Apple Inc. AAPL has an expected earnings growth rate of 55.5% for the current year. The Zacks Rank #2 company has a long-term growth rate of 12.5%. The Zacks Consensus Estimate for the current year has improved 13.3% over the last 30 days. It has a current dividend yield of 0.70%. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency have sparked one of the most exciting discussion topics of a generation. Some call it the Internet of Money and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree were still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Home Depot, Inc. (HD) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Caterpillar Inc. (CAT) : Free Stock Analysis Report Walmart Inc. (WMT) : Free Stock Analysis Report Dow Inc. (DOW) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Major Law Enforcement Operation Busts 300 Crime Rings, Recovers Millions in Crypto: One of the largest law enforcement operations against encrypted criminal activities to date has seized millions in crypto and infiltrated more than 300 criminal syndicates.
According to apress releasefrom the European Union Agency for Law Enforcement Cooperation (Europol) on Tuesday, the operation is part of a three-year investigation into criminal rings that involved the surveillance of 27 million messages via an encrypted messaging platform.
Since 2019, the U.S. Federal Bureau of Investigation (FBI), in coordination with the Australian Federal Police, developed and covertly operated an encrypted device company called ANOM.
Related:UK Police Raid Suspected Cannabis Factory, Find Bitcoin Mining Operation
The company eventually grew to service more than 12,000 encrypted devices to more than 300 criminal syndicates operating in more than 100 countries, according to the release. Italian organized crime, outlaw motorcycle gangs and international drug trafficking organizations were also caught up in the operation.
“Very few matters unite law enforcement like bringing to justice those who seek to do our citizens harm,” Australian Federal Police Commissioner Reece Kershaw said. “The FBI provided an encrypted communications platform while the AFP deployed the technical capability that helped unmask some of the biggest criminals in the world.”
The goal of the new platform was to target global organized crime, drug trafficking and money laundering organizations by offering an encrypted device with features sought by organized crime networks.
Features included remote wipe and duress passwords to persuade criminal networks to select ANOM’s product over other encrypted devices on the market.
Related:Uphold Exec Accused of ‘Fraudulently Misdirecting’ $700K in Funds
According tounsealed documentsfrom the Southern District Court of California filed last month, more than 450,000 photos of the 27 million messages on ANOM devices were sent by criminals.
The photos provided law enforcement insight into conversations on other encrypted platforms discussing criminal activity, cryptocurrency transactions, bulk cash smuggling, law enforcement corruption and self-identification information.
Law enforcement was then able to compile the evidence over an 18-month period before executing what has come to be known as Operation Trojan Shield/OTF Greenlight
The operation involved a number of large-scale law enforcement actions conducted over a series of days across multiple jurisdictions.
The FBI conducted the operation alongside the Dutch National Police and the Swedish Police Authority, the U.S. Drug Enforcement Administration (DEA) and 16 other countries.
Police raids occurred across Australia, Austria, Canada, Denmark, Estonia, Finland, Germany, Hungary, Lithuania, New Zealand, the Netherlands, Norway, Sweden, the United Kingdom including Scotland, and the U.S.
More than 700 house searches led to the arrests of 800 indviduals from more than 300 criminal rings and to the seizure of eight tons of cocaine, 22 tons of cannabis and cannabis resin as well as two tons of amphetamine and methamphetamine.
Additionally, 250 firearms were seized along with 55 luxury vehicles and more than $48 million in various global currencies, including cryptocurrencies, according to the report.
“Operation Trojan Shield and Europol Operation Greenlight not only reveal how transnational criminal organizations continue to exploit encrypted communication services for their own illicit gain but also show the commitment of the law enforcement community to develop innovative strategies to counter this activity,” said Matthew Donahue, the DEA’s deputy chief of operations.
See also:UK Police Raid Suspected Cannabis Factory, Find Bitcoin Mining Operation
• US Seeks Information About $1.4M EtherDelta Hack in 2017
• Iran Enlists Its Intelligence Agency to Crack Down on Illegal Crypto Mining || Why Bitcoin Should Be Priced in Sats (and Why It Has a Divisibility Dilemma): Bitcoin is expensive. Too expensive, according to Mike Novogratz . People are being put off by its high price. To attract smaller savers, exchanges should switch to quoting in satoshi: Satoshis are bitcoin’s equivalent of cents, except there are far more of them. Just as one dollar is made up of 100 cents, so one bitcoin is made up of 100 million satoshis. This is defined in the Bitcoin system’s original code. In Bitcoin’s early days, when the bitcoin currency was only worth a few cents, no one bothered with satoshis. But now that bitcoins trade at $58,000, most people can’t afford to buy a whole bitcoin. Even those who can might not want to because bitcoin’s notorious volatility means they could lose much of their investment. Related: Bitcoin Makes Weak Bounce After Tesla Blow But Pullback May Not Be Over: Analyst Bitcoin’s success as a store of value has been a double-edged sword. It has enriched early adopters, but in the process it has raised the barriers to entry by so much that late entrants – who tend to be younger and poorer – are finding it increasingly hard to buy in. Just like real estate, bitcoin is becoming a high-yield asset for older and richer people. Frances Coppola, a CoinDesk columnist, is a freelance writer and speaker on banking, finance and economics. Her book, “ The Case for People’s Quantitative Easing ,” explains how modern money creation and quantitative easing work, and advocates “helicopter money” to help economies out of recession. But, unlike real estate, you don’t have to buy a whole bitcoin. Increasingly, people are buying fractions of bitcoin – and fractions of bitcoin can be quoted as multiples of satoshi. People who “stack sats” (make regular small purchases to build up a holding) already talk in terms of sats rather than bitcoin. Instead of buying 0.02 bitcoin, they buy 2 million sats. How many sats have you bought today? Story continues So there’s good reason to consider switching to satoshi as the unit of account. Quoting in satoshi rather than bitcoin could help convince people who don’t have a great deal of money that bitcoin can still be for them despite its high price. Sats can become the savings vehicle of choice for ordinary people who want a safer and higher-yielding place for their money than bank deposit accounts. Related: Bitcoin’s Mining Difficulty Hits New High; Taproot Begins Its Second Signaling Attempt Are there enough sats for everyone to have some? In theory, yes. The world’s population is just under 8 billion. 18.5m bitcoins have already been mined, so there are 1.85 trillion sats theoretically in existence. That’s about 231 thousand for every person on the planet. On this basis, therefore, everyone can indeed save in sats. Of course, it’s not quite that simple. Of the 18.5 million mined so far, an estimated 20% are lost or otherwise irrecoverable , and a further 10 million or so are never traded. That leaves only about 4.2 million bitcoin available for purchase, either whole or subdivided. So, let’s redo the math with the number of bitcoins actually available for purchase. Instead of 1.85 trillion satoshis, there are only 400 billion available for purchase. That’s about 50 sats per person. And this is where the limits of subdivisibility come into play. Just because something can be divided into very small pieces doesn’t mean it is practical to do so. I might be able to slice a pizza down to atomic level, but doing so wouldn’t solve world hunger because humans need a certain amount of food to live. Similarly, there are practical limits to how much bitcoin can be subdivided; 50 sats per person is not enough for everyone in the world to save in sats. And sats wouldn’t be distributed equally among small savers anyway. Realistically, people who have more money will be able to buy more sats, and this will drive up the price, pricing out those with the least money to invest. So sats can’t be the sole saving vehicle for ordinary people. There’s another limit, too, which starts to bite much more quickly than the sats supply limit. That limit is transaction fees. As demand for bitcoin increases, network traffic also increases, and this raises the average transaction fee . People who are buying or selling small amounts of bitcoin, and therefore don’t want to pay high fees, have to wait longer for their transactions to settle – if they ever settle at all. Higher transaction fees effectively price smaller transactions out of the market. For people with not much in the way of spare U.S. dollars, this can be a huge barrier to investing in bitcoin. These limits to subdivisibility raise profound questions about the nature of bitcoin. Transaction fees are already a considerable obstacle to very small investors. At bitcoin’s price of about $58,000 (at the time of writing), 50 sats are worth less than 3 cents. Bitcoin’s average transaction fee is about $22 at the time of writing and has been as high as $60. So 50 sats would be a very expensive purchase. Furthermore, very small holdings like this can’t be sold, because the holder doesn’t own enough bitcoin to pay the transaction fee. They are known as “dust.” The higher the average transaction fee rises, the more dust accumulates in the Bitcoin ecosystem. Layer 2 solutions aim to resolve the “dust” problem by taking small transactions off-chain. But I do wonder why the savings and transactions of ordinary people apparently don’t need the same anonymity, security and immutability as those of the rich. Surely we should be protecting the wealth of ordinary people who can’t afford to lose money, not the wealth of big whales for whom losses are a flea bite? These limits to subdivisibility raise profound questions about the nature of bitcoin. What exactly does the community want it to be? Do they want it to be a reserve asset underpinning a new international payments system similar to the gold standards of the past, or do they want it to be the preferred safe savings vehicle of ordinary people? This is essentially the same dilemma the Bitcoin community faced in the “blocksize wars” of 2015-2017. Then, the argument was over whether bitcoin should accommodate the world’s transactions, or whether it should simply be the base layer underpinning a new generation of transaction systems. Those who wanted it to be a base layer won the wars, but didn’t resolve the fundamental dilemma. That has now re-emerged in the form of an argument about whether bitcoin should accommodate the world’s savings. Subdividing into sats will resolve this dilemma for a while. But if Bitcoin continues on the path set in the outcome of the “blocksize wars,” then transaction fees will eventually be far too high for ordinary people to save significantly in sats. So Bitcoin will need layer 2 solutions not just for transactions, but for savings. New products that can provide the security needed by people who can’t afford to lose money. The crypto world is a hugely creative and innovative place. I am confident there can be a solution to this dilemma. I just hope it will be one that works in the best interests of the poor. Related Stories Bitcoin Plunges as Tesla Halts BTC Payments Over Environmental Concerns Elon Musk Says Tesla Is Suspending Bitcoin Payments Over Environmental Concerns
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 34649.64, 34434.34, 35867.78, 35040.84, 33572.12, 33897.05, 34668.55, 35287.78, 33746.00, 34235.20
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin is sinking as bitcoin cash goes live: bitcoin atm (Photographers in front of a mock bitcoin ATM during the opening of Hong Kong's first bitcoin retail store in February 2014.Reuters/Bobby Yip) Bitcoin is trading down 5.78%, at $2,715, after word that bitcoin cash, another version of the cryptocurrency, has started to go live . Bitcoin's rival Ethereum is spiking on the news, up 9.15%, at $224 an ether. Two years of disagreements about how to scale bitcoin came to a head on Tuesday, the deadline for a decision. So-called core developers want to limit the size of the blocks that make up bitcoin's network to protect it from hacks, but miners want to make the blocks bigger to improve its speed. The deadline's passage lead to a fork , which the bitcoin exchange Coinbase describes as a "change to the software of the digital currency that creates two separate versions of the blockchain with a shared history." What emerged was a bitcoin rival called bitcoin cash , bucking a proposed solution called SegWit2x . "Bitcoin cash basically came out of nowhere," Charlie Morris, the chief investment officer of NextBlock Global, an investment firm with digital assets, previously told Business Insider. "A group of miners who didn't like SegWit2x are going to opt for this new software that will increase the size of blocks from the current 1 megabyte to 8." Bitcoin holders will see their holdings double, but that doesn't mean the value will double. The decline in bitcoin will most likely equal the price of bitcoin cash, according to Morris, because bitcoin cash will initially draw its value from bitcoin's market cap. Bitcoin is up 190% so far this year. Bitcoin (Markets Insider) NOW WATCH: Wells Fargo Funds equity chief: Shorting anything is 'playing with fire' More From Business Insider Bitcoin is expected to 'fork' today, and its price could take a dramatic hit here's what that means Bitcoin swings ahead of Tuesday's big decision GOLDMAN SACHS: Bitcoin may need 'another few swings' before making a run at record highs || Bitcoin technology faces split, may create clone virtual currency: By Gertrude Chavez-Dreyfuss and Anna Irrera NEW YORK (Reuters) - Bitcoin's underlying software code could be split on Tuesday to create a clone called "Bitcoin Cash," potentially providing a windfall for holders of the digital currency. The initiative is being led by a small group of mostly China-based bitcoin miners - who get paid in the currency for contributing computing power to the bitcoin network - who are not happy with proposed improvements to the currency's technology. They have initiated what is known as a "fork" - where blockchain, a public ledger of all bitcoin transactions, splits into two potential paths - that is set to be activated on Aug. 1. A fork, if it goes ahead, would be significant as it could create a new competitor for bitcoin, which remains the oldest and most valuable digital currency. It is not clear if the fork will happen and how much the new coin would be worth. If the fork goes ahead on Tuesday, anyone owning bitcoins before the split will have access to an equal amount of Bitcoin Cash for free, which they will then be able to trade for fiat currencies - legal tender backed by an issuing government - or other digital currencies. "This is somewhat like a stock split," said Jeff Garzik, chief executive and co-founder of Bloq, a blockchain company. "You go to sleep with 100 bitcoins and wake up in the morning with 100 bitcoins plus 100 'Bitcoin Cash', a new token." Bitcoin averted a split two weeks ago, when its software developers and miners agreed to implement a software upgrade called the Bitcoin Improvement Proposal (BIP) 91. BIP 91 was the first step toward a larger effort to upgrade bitcoin through software called SegWit2x, which would make the network faster at processing transactions, such as payments using the virtual currency. The miners, a powerful segment of the bitcoin community, represent a network of computer operators who validate information on the blockchain. Since bitcoin is powered by open-source code, any group of coders can use it to create clone coins. Futures of Bitcoin Cash are already trading on certain exchanges at around $282.40. Bitcoin traded at $2,806.27, according to coinmarketcap.com. If the fork goes ahead, users will only be able to receive and sell the new token on certain digital currency exchanges and digital wallet providers, as several have decided not to support it, including Coinbase, BitMEX, and Bitstamp. "We do not want to support any behavior whereby anyone can potentially split the bitcoin blockchain and effectively create free money out of nothing," said Greg Dwyer, head of business development at BitMEX. Two other large exchanges, Kraken and Bitfinex, said they will allow users to trade Bitcoin Cash and will credit them with the same amount of the new token after the fork, if it goes ahead. (Reporting by Gertrude Chavez-Dreyfuss and Anna Irrera; Editing by Bill Rigby) || 'Petya' cyber attack: List of affected companies shows scale of hack: The 'Petya' cyber attack is affecting major companies around the world. The ransomware, which is being likened to WannaCry , which crippled the NHS in May, initially attacked businesses in Ukraine, but has spread to more countries, including Russia and the UK. It's locking users out of their computers, and demanding a payment of $300 in Bitcoin from them. However, experts have warned against paying the ransom, as doing so could encourage similar attacks in the future. These are the companies and organisations that have confirmed they've been affected by the Petya attack. Rosneft Russias top oil producer Rosneft said its servers had been hit been a large-scale cyber attack but its oil production was unaffected. A.P. Moller-Maersk Danish shipping giant A.P. Moller-Maersk, which handles one out of seven containers shipped globally, said a cyber attack had caused outages at its computer systems across the world. Maersks port operator APM Terminals was also hit. Dutch broadcaster RTV Rijnmond reported that 17 shipping container terminals run by APM Terminals had been hacked, including two in Rotterdam and 15 in other parts of the world. WPP Britains WPP, the worlds biggest advertising company, said computer systems within several of its agencies had been hit by a suspected cyber attack. Merck & Co. Pharmaceutical company Merck & Co. said in a tweet its computer network was compromised as part of a global hack. Russian Banks Russias central bank said there had been computer attacks on Russian banks and that in isolated cases their IT systems had been infected. All Russian branches of Home Credit consumer lender are closed because of a cyber attack, an employee of a Home Credit call centre in Russia said. Ukrainian Banks, Power Grid A number of Ukrainian banks and companies, including the state power distributor, were hit by a cyber attack that disrupted some operations, the Ukrainian central bank said. Ukrainian International Airport Yevhen Dykhne, director of the capitals Boryspil Airport, said it had been hit. In connection with the irregular situation, some flight delays are possible, Dykhne said in a post on Facebook. Story continues Saint Gobain French construction materials company Saint Gobain said it had been a victim of a cyber attack, and it had isolated its computer systems to protect data. Deutsche Post German postal and logistics company Deutsche Post said systems of its Express division in the Ukraine have in part been affected by a cyber attack. Metro Germanys Metro said its wholesale stores in the Ukraine had been hit by a cyber attack and the retailer was assessing the impact. Mondelez International Food company Mondelez International said employees in different regions were experiencing technical problems but it was unclear whether this was due to a cyber attack. Evraz Russian steelmaker Evraz said its information systems had been hit by a cyber attack but its output was not affected. Norway A ransomware cyber attack is taking place in Norway and is affecting an unnamed international company, says the Nordic countrys national security authority. Additional reporting by Reuters || First Bitcoin Capital Corp Installing Automated Check-Cashing and Bitcoin ATMs Into California High Traffic Markets.: VANCOUVER, BC / ACCESSWIRE / June 19, 2017 /First Bitcoin Capital Corp (BITCF) and Simple Automated Money, Inc. (SAMCO) announced today that SAMCO will provide automated check-cashing kiosks through BITCF locations in Northern California. SAMCO's Web-enabled automated check-cashing kiosks merge unique and exclusive check cashing capabilities to provide unbanked consumers with a fast and confidential check-cashing experience.
In a pilot test program, BITCF has ordered S.A.M. Kiosks to integrate Bitcoin ATM into self-service check cashing kiosks nationwide. BITCF is conducting the pilot test and studying customer acceptance of the check cashing kiosks with 3 units in Northern California. Company anticipates beginning a national rollout later in 2017. During the pilot, BITCF will offer discounted check-cashing services and will promote the new service through online advertising, in-store signs and special events ... all aimed at consumers who use alternative check-cashing services.
Additionally, BITCF announced that development will begin to integrate Bitcoin buy/sell capabilities throughout a nationwide network of 85 SAMCO kiosks now in place and growing. Services the company plans to integrate will include BITCOIN ATM transactions, money orders and transfers as well as check cashing through touchscreen, bio-metric secure access.
BITCF is an exclusive distributor of SAMCO check-cashing kiosks in California for the medical cannabis dispensaries and is expanding to include other high traffic retail locations, such as C-Stores and supermarkets. It will offer competitive products and services allowing consumers to cash any type of check: government-issued, payroll, business and others. Studies have shown that offering check-cashing services on premises to be an effective method to increase store product sales.
According to FDIC (Federal Deposit Insurance Corporation) recent 2015 National Survey of Unbanked and Underbanked Households, indicates that more than 7 percent of households in the United States were unbanked in 2015. This proportion represents approximately 9 million households. An additional 19.9 percent of U.S. households (24.5 million) were underbanked, meaning that the household had a checking or savings account but also obtained financial products and services outside of the banking system. By offering check cashing, BITCF's ATM Division expects that Kiosk location owners will increase their customer base significantly.
Kiosk use is simple and fast: customers insert an ID card and check, validate their identity through on-board fingerprint technology. The S.A.M. Kiosk validates the information, verifies customer identity, performs an online check authorization and issues an approval or decline back to the consumer before dispensing cash.
"Self-service check cashing kiosks with integrated Bitcoin ATM capability is another innovation in the company's history of defining convenience for customers," said, Bitcoin president.
According to CoinRadar.com, as of 2017 there are only a total of 571 bitcoin ATMs in the entire US. Due to the low number of bitcoin ATM locations nationwide there is a huge demand from customers seeking to buy or sell bitcoins for cash. People seeking to use a bitcoin ATM are willing to drive across entire cities just to use one, so combining a check cashing self-service kiosk with a bitcoin ATM and placing kiosks in strategic high traffic retail locations is win-win for the vendors and consumers.
About SAMCO:
Simple Automated Money, Inc. is the leading provider of automated check-cashing kiosks in the United States. Actively involved in check-cashing since 1995, SAMCO has merged related but independent transaction processing systems into a simplified kiosk allowing customers fast and convenience access to their cash.
About First Bitcoin Capital Corp.
First Bitcoin Capital Corp is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At the current time, the Company owns and operates more than the following digital assets:
http://coinqx.com/cryptocurrency exchange, registered with FINCEN.
http://strain.id/cannabis strains genetic information depository on decentralized Blockchain
http://www.icoinews.com/real time cryptocurrency and bitcoin news site.
http://bitminer.cc/providing mining pool management services.
http://www.2016coin.org/online daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins.
http://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
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] visithttp://www.bitcoincapitalcorp.com
SOURCE:First Bitcoin Capital Corp. || Pogue's Basics: The secret Start menu in Windows 10: Windows 10’s Start button harbors a secret: It can sprout a tiny utility menu.
To see it, right-click the Start button in the lower-left corner of the screen, or (on a touchscreen) hold your finger down on it. Or press Windows+X.
There, in all its majesty, is the Start menu’s secret utility menu. It’s bursting with shortcuts to important toys for the technically inclined.
Some are especially useful to have at your mousetip, likeSystem(opens a window that provides every possible detail about your machine) andTask Manager(lets you quit a frozen app and get on with your life).
This secret utility menu also offered a link to the Control Panel — at least until Microsoft, in its wisdom, removed that option in the Windows 10 Creators Update.
Adapted from “Pogue’s Basics: Tech” (Flatiron Press), byDavid Pogue.
More from David Pogue:
Is through-the-air charging a hoax?
Electrify your existing bike in 2 minutes with these ingenious wheels
Marty Cooper, inventor of the cellphone: The next step is implantables
The David Pogue Review: Windows 10 Creators Update
Now I get it: Bitcoin
David Pogue’s search for the world’s best air-travel app
The little-known iPhone feature that lets blind people see with their fingers
David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’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. || Bitcoin Poised to End Week off Weekly Highs Despite Expectations of Indian Adoption: The price of Bitcoin is set to end the week below the week’s highest level as investors in the virtual currency remained reluctant to place their funds into it in the wake of a recent $900 crash. Rumors of a possible adoption of Bitcoin in India resulted in little to no effect on the price of the digital currency today, but is expected to have a wider effect in the weeks to come.
After almost touching $3,000, the Bitcoin price crashed to $2,120 last week. The digital currency then quickly recovered to $2,789 by Wednesday, but volatility remained high as the price moved in a range of almost $150 over the past two days. This volatility prompted experts to reiterate warnings of the bubble behavior that Bitcoin has been displaying in recent months, which is attributed to a frenzy of speculations that pushed the Bitcoin price more than 200% this year.
Among those wary of Bitcoin’s rapid gains is Peter Denious, one of the main venture capitalists inAberdeen Asset Management.In a recent interview, Denious said that Bitcoin is pushed higher by a gold rush mentality that took over the market, which is likely to lead to huge losses of investments.
His concerns along with others have worked against allowing Bitcoin to break the $2,800 level this week, despite easily storming past it last week. Reports that pointed to a possible legalization of the virtual currency in India failed to lead it higher as investors preferred to remain cautious.
India has seen a huge rise in demand for Bitcoin over the last year, but the country continues to offer no legal framework for digital currencies to operate within. However, lawmakers in India might be in talks of changing the government’s stance on Bitcoin to with the goal of regulating the currency. The Ministry of Finance formed a committee in April to examine the existing framework surrounding virtual currencies and provide suggestions for how to improve consumer protection and limit money laundering.
The committee’s findings and recommendations will be submitted to the ministry by the end of July. This has stoked anticipation of a possible adoption of Bitcoin in India, especially after the Indian government opened a public discussion of the issue on its official online forum.
A government official said that the probability of banning Bitcoin is low, however he also added that legalizing the virtual currency remains unlikely. Speculations on the committee’s recommendations are expected to influence the Bitcoin price in the coming weeks.
BTC/USD closed the week at 2,579 on theBitstamp exchangeafter moving within a range between 2,688.9 and 2,743.9. BTC/USD started the day at 2,708.3, while for the week the pair began trading at 2,633.9.
This post was originally published byEarnForex
Thisarticlewas originally posted on FX Empire
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• Market Snapshot – Markets Move Towards Tepid Close || A Coinbase investor says the platform might reverse its bitcoin cash ban in the next few days: Barry Schuler (Barry Schuler, pictured in 2001, when he was still CEO and chairman of America Online.Manny Ceneta/Getty Images) Coinbase has spent much of this week in the weeds over its decision not to accept the newly minted digital currency bitcoin cash. But the company could reverse that decision in the next few days, an investor told Business Insider. "I think the company will be in a position to make an announcement in the next few days, and one could be supporting bitcoin cash in due course," said Barry Schuler, a partner with DFJ, an investor in Coinbase. " Currently, they're evaluating the activity — how the blockchain matures, if there's the appropriate level of mining activity. It's very important that there's liquidity." Liquidity — the ability to convert an asset into cash — is an important factor for Coinbase because of its overall strategy to only trade currencies which are established and stable. A spokesperson for Coinbase said that the company would "have an update on this later today," but it is unclear whether this will include a final decision or just more information on the company's decision-making process. On Tuesday, however, Coinbase CEO Brian Armstrong wrote that the company was agnostic to which currencies its users trade and that it was not opposed to adding new assets in the future. "Our goal is to be the safest, most trusted and compliant, and easiest to use," Armstrong wrote on Twitter. "Not the first to market with new assets. Especially at scale, it takes time to ensure any new asset we add is well tested and secure." Users were forewarned that they would need to move their bitcoin off of Coinbase if they wanted to use bitcoin cash, and many did, leading to reported wait times of 12 hours for some traders over the weekend. Bitcoin cash started out with zero value when it was first established on Tuesday, but has quickly shot up to a high of $691.94 on Wednesday. As with many new digital currencies, it's still rather unstable, and currently sits around $397. Story continues Read more about Coinbase and its initial decision not to accept bitcoin cash. NOW WATCH: This machine can produce 300 bricks a minute More From Business Insider Tons of Coinbase users fled the platform after it rejected bitcoin cash — now the $1 billion startup is in the center of a raging storm 6 things to watch out for in Apple's earnings today Facebook bought an AI startup that could turn its middling virtual assistant into a Siri killer || Blue Apron Holdings, Inc. (APRN) Goes Stale Right Out of the Box: InvestorPlace - Stock Market News, Stock Advice & Trading Tips When Blue Apron Holdings, Inc. (NYSE: APRN ) filed its initial public offering, there was quite a bit of excitement. Investors would get a chance to participate in the new-fangled online delivery industry. But that optimism has fallen flat after some interesting developments in the grocery space. On Wednesday, the Blue Apron IPO got priced at $10 a share — which was at a steep discount to the original price range of $15 to $17. The lead underwriters on the deal included Goldman Sachs Group Inc (NYSE: GS ), Morgan Stanley (NYSE: MS ), Citigroup Inc (NYSE: C ) and Barclays PLC (ADR) (NYSE: BCS ). Unfortunately, even with the price cut, there is still not too much enthusiasm for the Blue Apron IPO. As of this writing, APRN stock is only up roughly 6%. 3 Stocks to Buy to Leverage the Bitcoin Craze So what’s going on here? A Blue Apron Primer Well, to see, let’s first get a backgrounder on the company. Founded in 2012, Blue Apron saw a big opportunity to deliver food kits to consumers. These kits included recipes as well as pre-portioned ingredients. All in all, the goal was to help people eat healthier offerings, but without the drudgery of menu planning and grocery shopping. From the start, Blue Apron was a hit. From 2014 to 2016, revenues spiked from $77.8 million to $795.4 million . In all, the company has delivered over 159 million meals across the U.S. Over time, Blue Apron has certainly bolstered its offerings. Just some include Blue Apron Wine, which is a direct-to-consumer wine delivery service, and also the Blue Apron Market, which is an e-commerce marketplace of curated cooking tools and pantry items. Another key part of the company is the logistics platform. Blue Apron has built a network of over 300 different supplier relationships that have exclusive arrangements. There is also custom-built fulfillment centers that effectively manage perishable inventory. Story continues And what about the business model? Note that Blue Apron has several plans, which range from $60 to $72 per week (this depends on the number of people in a family). Blue Apron IPO Pros & Cons Now the market opportunity for Blue Apron is certainly enormous. According to Euromonitor, the U.S. grocery sector generated $781.5 billion in revenues last year — and the foreign market is eight times this amount. As for the online market, it is relatively small, at about $9.7 billion. Yet, growth is expected to average at about 8.5% until 2020. By comparison, the traditional grocery market is forecasted to grow at only a 1.3% clip. Despite all this, Blue Apron definitely faces some tough challenges. Perhaps one of the most threatening is the churn of the customer base. Based on the number crunching of Emory University professor Daniel McCarthy, it could be as much as 60% . This means that Blue Apron will need to continue boosting its marketing spend, which is already at a hefty 25% of revenues. Besides, the heavy churn really casts doubt on the value proposition of the company. Do people really want this kind of service? Or, even if they do, does it have the right pricing or products? It’s tough to say. But after being in business for about five years, it seems that Blue Apron should have a better handle on such things. Even worse, the competitive landscape is likely to get even more intense. Amazon.com, Inc.’s (NASDAQ: AMZN ) proposed acquisition of Whole Foods Market, Inc. (NASDAQ: WFM ) has sent shockwaves across the grocery sector. For the most part, AMZN will be able to leverage a standout delivery service, which is backed by the ubiquitous Prime service. But at the same time, the traditional grocers like Kroger Co (NYSE: KR ) will likely get much more aggressive with their own digital efforts. Kroger Co (KR) Stock Oozes Value Thanks to Amazon.com, Inc. (AMZN) In light of all this, it should be no surprise that APRN has pulled off a lackluster offering. Unfortunately, Blue Apron could have even more difficulties sustaining its valuation as the pressures in the grocery sector continue to mount. Tom Taulli runs the InvestorPlace blog IPO Playbook and is the author of various books, including All About Commodities , All About Short Selling and High-Profit IPO Strategies . Follow him on Twitter at @ttaulli . As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace The 10 Best Vanguard Funds for Retirement There's No Good Reason to Buy Snap Inc (SNAP) Stock 3 Stocks to Buy for Millennial Investors The post Blue Apron Holdings, Inc. (APRN) Goes Stale Right Out of the Box appeared first on InvestorPlace . || Reda Bedjaoui - Where to Invest for the Rest of 2017: DUBAI, UAE / ACCESSWIRE / July 24, 2017 / Expert investment advisor, real estate investor and CEO of Redbed Investments LLE, Reda Bedjaoui offers invaluable advice and insight for investors looking to manage their risk exposure across the remainder of fiscal year 2017. As the major global regions of Europe, Asia and the U.S. continue to experience synchronized economic growth and relatively stable markets ( as reported in the IMF's World Economic Outlook for 2017), Bedjaoui urges speculators to remain vigilant in the midst of uncertain geopolitical and domestic policy shifts. In order to offset risks in potentially volatile 3 rd and 4 th quarter markets with an expected uptick in inflation and interest rates, he looks to diversified portfolios with real estate and technology assets as popular hedges. With rates still historically low but set to rise, now is an excellent time to invest in real estate, which is generally resilient during inflation periods and offers robust returns when purchased with leverage. While returns on real estate generally average 3% vs 9-10% in stock indexes, the weight of risk is much lower for the former and with home value increases often exceeding 50% of initial leveraged investments, real estate remains a consistent performer. For 2017, Reda Bedjaoui advises a focus on the New York City and Miami markets, where delayed purchasing decisions in 2016 have resulted in oversupply and lowered prices. The Miami Herald reports that luxury real estate in Miami is currently a highly-incentivised sector, following a loss of Latin American buyers leading to drops of 3 to 8% in condo prices. In New York City, as rental prices continue to outpace sales price growth and home sellers are lowering their prices ( as reported by CNBC), savvy investors are getting in ahead of the trend and rising interest rates. Wise investing for 2017 could require choosing emerging markets as part of your overall strategy; Bedjaoui points to technology shares as a great investment vehicle with leading broad-based gains across almost all market sectors. Encompassing a wide spectrum of industries, key drivers to watch for are: autonomous & electric vehicles; wearables; blockchain (Bitcoin) currencies; biotech; cybersecurity and artificial intelligence/automated machine learning. The Nasdaq has recorded its strongest gains since 2013 following not only notable performances of big players like Microsoft (MSFT), Nvidia (NVDA), Amazon (AMZN) and Apple (AAPL), but a huge contingent of smaller tech companies on the rise. In the UK, tech sector growth has outpaced all other sectors by a factor of two during the past year and should indicate to sceptics that for the time being, the tech market remains a solid bet. Story continues Reda Bedjaoui operates highly-successful global business ventures in North America, Europe and the Middle East. As a respected multi-sector international investment advisor, Bedjaoui leverages his decades of experience managing projects in real estate development, start-up industries, risk management and governance and compliance. Having completed studies in Law at the Université de Montréal and The Hague Academy of International Law in the Netherlands, he offers invaluable perspective in commercial and corporate law and international arbitration. Beyond his business acumen, Bedjaoui is a father of three, a passionate golfer and fluent conversant in several languages. Reda Bedjaoui - Expert Investor and CEO of Redbed Investments: http://www.redabedjaouinews.com Reda Bedjaoui Discusses the Market Impacts of Brexit One Year After the Vote: https://finance.yahoo.com/news/reda-bedjaoui-discusses-market-impacts-190000873.html Reda Bedjaoui - Explains the Effect of Interest Rates on the Stock Market: http://finance.yahoo.com/news/reda-bedjaoui-explains-effect-interest-072100133.html Contact Information RedaBedjaouiNews.com http://www.redabedjaouinews.com [email protected] SOURCE: Reda Bedjaoui || Ethereum is spiking as bitcoin splits in 2: genesis ether enigma mining ethereum (Genesis Mining) Bitcoin' s future is yet to be decided, and Ethereum is gaining on the uncertainty. Ethereum, the second most popular cryptocurrency by volume, is up 9.15% in early trading Tuesday , trading at $224.34. That is down 43.22% from its high of $395.13 on July 12. Ethereum is rising on the deadline for bitcoin's "hard fork." Bitcoin has been in a years long "civil war" over the future of the platform. Bitcoin users are unhappy with the slowness of the platform but disagree over how to fix it. One plan, known as Segwit2x, was the most popular solution, and was set to go live at 8:20 am August 1. But, that was before a rival plan, called bitcoin cash , came out of nowhere and became really popular. Bitcoin cash replicates all of bitcoin's history on a new platform and speeds things up by increasing the size of blocks by eight times. Regardless of what happens with the Segwit2x plan, bitcoin cash will likely lower the value of the original bitcoin platform. Because bitcoin cash replicates bitcoin's history, users of bitcoin will automatically receive bitcoin cash equivalent to the number of coins they had on the Bitcoin platform. This could double the value of users wallets, but is more likely to dilute the price of Bitcoin so the combined value of bitcoin and bitcoin cash total the previous value of bitcoin platform. That uncertainty surrounding bitcoin is leading people to back away from the platform entirely, causing its price to fall and Ethereum's to rise. Ethereum is up 17,94.49% over the past year. Click here to watch the price of Ethereum in real time... ethereum price (Markets Insider) NOW WATCH: Wells Fargo Funds equity chief: Tech stocks are 'overvalued,' but you should still buy them More From Business Insider 50 must-have tech accessories under $50 One of the best tech upgrades I've made to my car cost me less than $30 This iPhone 7 case has one of the coolest features Ive ever seen
[Random Sample of Social Media Buzz (last 60 days)]
7:00~8:00のBitcoin市場は反落でした。
変化率は-0.0765%
9:00までは反落かな?
直近の市場の平均Bitcoinの価格は273007.0円
#ビットコイン
#bitcoin
#AI || One Bitcoin now worth $2343.734. Market Cap $38.418 Billion. Based on #coindesk BPI #bitcoin || Permissioned is straight, 'traditional' business and tech implementation, bitcoin, eth, zcash is full business and product (re)invention /2 || Thanks Service World Expo© What do you know about #bitcoin? ╚► http://tiny.cc/BITcoin pic.twitter.com/qQRQz8eco6 || Do not miss the opportunity. Every person who registers an account with us gets a signing up BONUS of 1 BTC !!!
http://bitcolesium.com/?ref=sohel_mondol … || Bitcoin: Análise Bitcoin [BTC/USD] – 14/06/2017
http://ift.tt/2riU6fT
Publicado por: Criptomoedas Fácilhttp://ift.tt/2sBUeLx || #Monacoin 72.1円↓[Zaif] -円→[もなとれ]
#NEM #XEM 17.7円↓[Zaif]
#Bitcoin 281,135円↓[Zaif]
06/27 17:00
口座開設はこちらで！ https://goo.gl/31dyoO || Can bitcoin Make you a millionaire ? Or is ethereum the play ? — Steemit https://steemit.com/bitcoin/@zzaki8950/can-bitcoin-make-you-a-millionaire-or-is-ethereum-the-play … || 2017-06-15 13:45:01 (KST)
비트코인 BTC
빗썸: 2,980,000 (+0)
코인원: 2,980,000 (-1,500)
코빗: 2,981,000 (+0) || EasyDEX: A Decentralized Exchange for Direct Coin Swaps http://coremedia.info/blockchain-news/item/801-easydex-a-decentralized-exchange-for-direct-coin-swaps … @KomodoPlatform @SuperNETorg #News #Agama #Bitcoin $KMDpic.twitter.com/6apCEn7Txn
|
Trend: up || Prices: 3213.94, 3378.94, 3419.94, 3342.47, 3381.28, 3650.62, 3884.71, 4073.26, 4325.13, 4181.93
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-06-28]
BTC Price: 12407.33, BTC RSI: 69.37
Gold Price: 1409.70, Gold RSI: 79.39
Oil Price: 58.47, Oil RSI: 56.96
[Random Sample of News (last 60 days)]
Bitcoin network outputs per day hits new all-time high: According to data from outputs.today , last week saw the number of confirmed Bitcoin transactions hit an all-time high of 1,115,136 outputs per day. Just a few weeks ago, this metric breached 1 million for the first time in the decentralised currencys existence. Looking at the historical chart, the last major high of 900,000 came at the end of November 2017, just prior to Bitcoins surge to $20,000. According to the outputs.today website, which specifically tracks outputs for the layer-one Bitcoin protocol, outputs per day is a better indicator of overall economic activity on the Bitcoin blockchain than transactions per day. Since one transaction can include multiple outputs, the number of total outputs is more important than the number of transactions themselves. Number of confirmed Bitcoin transactions per day hits highest level since last bull run By Nawaz Sulemanji May 7, 2019 The site also goes on to mention that large players in the Bitcoin space use batching. This is the process of including multiple outputs in a single transaction to reduce overall transaction fees. Therefore, they think that looking at only transactions misses an important part of the picture. New highs for outputs and even transactions per block Other highs reached recently include the number of outputs per block (currently at 7,021) and even the number of transactions per block, which has seen another significant increase to nearly 2,800 following the recent shift of data-intensive transactions moving to other smart-contracting layers on the BTC blockchain. In its most recent newsletter , Diar has also mentioned that the number of transactions on-chain is also just shy of the all-time high of December 2017. It goes on to state that since hitting a low in February of last year, month-on-month growth for the number of transactions has been clearly evident. Given that monthly transactions are trending towards breaking the old highs of 11.2 million a month (last seen in December 2017), the network fundamentals and on-chain activity on the Bitcoin blockchain seem to all be pointing to increased usage and adoption. The post Bitcoin network outputs per day hits new all-time high appeared first on Coin Rivet . || Pound Hammered as Brexit Talks Collapse: Open your FXTM account today
Recent reports of cross-party talks between the Conservative and Labour party concluding without a deal has compounded to the Pounds woes today. With the failure of cross-party talks and Theresa Mays impending departure fueling concerns over the UK potentially crashing out the EU without a deal in October, Pound weakness is likely to remain a dominant theme.
In regards to the technical picture, the GBPUSD is bearish on the daily and weekly charts. The currency pair extended losses on the negative news this morning with prices trading around 1.2750 as of writing. A weekly close below 1.2820 has the potential to open a path towards 1.2700 and 1.2620, respectively.
Pound weakness has propelled theEURGBPto a fresh 4 month high above 0.8750 as of writing. The currency pair is bullish on the daily charts as there have been consistently higher highs and higher lows. A solid daily close above 0.8750 is seen opening the gates towards 0.8800 in the short to medium term.
The GBPJPY has tumbled almost 100 pips today thanks to the Brexit uncertainty with prices trading marginally below 140.00 as of writing. An appreciating Yen also played a role in theGBPJPYdownside, given how risk aversion is boosting appetite for safe-haven assets. A solid weekly close below 140.00 should signal a move lower towards levels not seen since January 2019 at 138.00.
TheGBPAUDoffered a fairly muted reaction to news that cross-party Brexit talks have ended without an agreement. This could be based around the fact that the Australian Dollar also remains under pressure due to fundamentals at home. Looking at the technical picture, bears need to secure a solid breakdown below 1.8500 to encourage a move towards 1.8300 in the medium term. Should 1.8500 prove to be a stubborn support, the GBPAUD could rebound back towards the upper range at 1.8650.
Disclaimer:The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.
Thisarticlewas originally posted on FX Empire
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• Gold Price Futures (GC) Technical Analysis – Late Session Weakness Under $1278.20, Strengthens Over $1280.20 || Bart Chilton: Former CFTC Regulator, Crypto Holder and ICO Endorser: Last weekend, Bart Chilton, a former commissioner ofthe United StatesCommodity Futures Trading Commission (CFTC) and early advocate for cryptocurrency regulation,diedat the age of 58.
Apart from his work for the regulator, he was best known as the host of RT (formerly Russia Today) America’s financial show “Boom Bust” — in which he often covered cryptocurrency news — and as the author of the book “Ponzimonium: How Scam Artists Are Ripping Off America.”
The news about Chilton’s death wasbrokenby RT, his latest employer, on April 27. According to the TV network, the Boom Bust host passed away as a result of “a sudden illness.” Later, CNBCwrotethat Chilton died because of complications from pancreatic cancer, citing a family member.
Prior to working for theRussianstate-owned television channel, Chilton had an eventful political career in the U.S. government, which lasted 25 years.
Chilton grew up in Ogden Dunes, Indiana, where he worked at a steel mill for a year before entering Purdue University in 1979. As hetoldthe Wall Street Journal (WSJ), the heavy manual labor shaped his mindset before majoring in political science and communications, as Chilton felt that someone had to look out for "the little guy."
However, Chilton dropped out one semester before graduation to work on Democratic Party’s 1984 political campaigns. From 1985 to 1995, heworkedin the U.S. House of Representatives, serving as a legislative director for three different members of Congress and as the executive director of the bipartisan Congressional Rural Caucus. He later joined the executive branch during the Bill Clinton and George W. Bush administrations, in which he became the deputy chief of staff to U.S. Secretary of Agriculture Dan Glickman and acted as a liaison to the U.S. Department of Agriculture.
In 2007, Chilton wasnominatedto be a CFTC commissioner by President Bush, and his position was subsequently confirmed by the Senate. He was renominated by President Barack Obama in 2009 and finished his work for the agency in 2014. Chilton chaired the agency’s Energy and Environmental Advisory and the Global Markets Advisory panels.
Soon after becoming a commissioner, Chilton started to champion strong pro-market regulation views,as illustrated by his first official remarks. Specifically, the public servant drew attention to the phenomenon of “massive passives,” arguing that the influx of pension and institutional investments provoked the volatility in commodity prices. As heexplainedto the WSJ, a "massive passive" could represent as much as 20% of one market — a percentage that "gets to be where you might not be able to control prices, but you have the possibility of moving them."
BloombergdescribesChilton as “a U.S. regulator who pushed for tighter regulation of swaps and derivatives.”According to The Washington Post, he was “perhaps best known for his mane of silver white hair and unconventional speeches, loaded with pop culture references and catchy phrases.” For instance, he famously nicknamed high-frequency traders “cheetahs” who race “in and out” of the market.
In November 2013, Chiltonannouncedhe was leaving the CFTC “in the not too distant future,” without specifying the reason. Soon, hebegan workingfor a high-frequency trading association, as a senior policy advisor at DLA Piper law firm.
“People are going to say, ‘wait a minute, you used to beat the [stuff] out of those guys,’ and I did, but I never said they should go away,” ChiltontoldCNBC of the move.
Although Chiltonhas saidthat he’s been calling for cryptocurrency regulation since 2012, he never addressed the topic during his congressional speeches while working for the CFTC,as per the agency’s database. In fact, it seems that Chilton first publicly discussed bitcoin in May 2013 on CNBC, when hedeclaredhe was not “100% saying we should regulate it, but if anybody is going to, it seems like something we should consider.”
“It [bitcoin] is being potentially used for, you know, guns and money, and nobody is looking after it. It really is a shadow currency.”
Further on in the interview, Chilton argued that cryptocurrency holders “were losing actual money on this [bitcoin],” to support his viewpoint. “If people have the possibility of not being backed up, if things aren’t cleared, if there is no margin requirement, you don’t want this to be just a house of cards that can impact it.”
He then implied that the CFTC might oversee the cryptocurrency sector in the future, given that people seem to hold virtual currencies for future profits. That, in turn, appears to fit the description of a commodity and hencefall within the regulator’s purview, Chilton argued.
“If you guys want to be a shill for the financial industry, and support a shadow currency that people purchase drugs and money with, have a party, man. My job as a regulator, I’m going to look after it.”
In 2016, however, Chilton (no longer a CFTC commissioner)wrotea commentary for CNBC in which he called the bitcoin and blockchain industry “disruptive,” and argued that President Obama should ensure that its growth is not damaged by overly tight regulations, comparing it to the early IT-industry:
“When the internet was being developed, an effort and initiative by the Clinton administration to ensure that the fledgling idea would not be overly regulated was put in place — the 1997 Framework for Global Electronic Commerce. The point: to ensure laws and regulation would not negatively impact innovation. Current CFTC Commissioner Chris Giancarlo recently (and rightly) called for such protection for digital currency. President Obama should heed the call.”
In September 2017, Chiltonhighlightedbitcoin’s volatility as a major issue, saying that he would have started a probe into potential market manipulation if he still worked at the CFTC at the time. Specifically, he argued that the “blind spot” occurred because virtual currencies cannot be treated like other stocks due to their complicated, digital nature and that there were no Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements established within the industry.
In November 2017, the former CFTC commissionerdeclaredthat bitcoin wasn’t “a scam of a fraud”:
“I don’t think it’s, you know, a fraud, like [JPMorgan ChaseCEO]Jamie Dimonsaid, or a pyramid scheme like [Russian] President Putin says. I mean, people are actually using bitcoins to purchase things. So, that’s not a scam or a fraud.”
In January 2018, Chiltondisclosedthat he owned bitcoin (BTC) and ether (ETH):
“I wish I had been investing when I told everybody to be careful. I had a lot of my friends that said, ‘You told me not to invest.’ They would have been millionaires.”
Around the same time, it was revealed that the former CFTC regulatorwas involvedin an initial coin offering (ICO) project called OilCoin, which billed itself as “the world’s first legally compliant cryptocurrency backed by oil reserves” and planned to launch an ICO in January 2018. However, OilCoin’s social media accountswent inactiveas early as December 2017. Chilton’s nameis still listed on the startup’s websiteunder the “Founders and Directors” tab, suggesting that his endorsement could have stemmed from a commercial partnership.
In January 2019, Forbes published Chilton’sarticletitled “2019's Good, Bad and Ugly of Cryptos,” which details a parallel between the crypto industry and the Clint Eastwood movie from 1960s. Indeed, as mentioned above, he often drew from pop culture to demonstrate his points — Chilton’sother Forbes piecelargely references “Bohemian Rhapsody,” a 2018 biographical film about Freddie Mercury, lead singer of Queen.
In his latest articles, Chilton argued that the industry is becoming more civilized —futures trading on regulated exchanges like CBOE and CME, as well asBakkt’s potential arrivalwere mentioned as examples — which, along with the massive price crackdown, are good developments for the market. However, he argued, security remains to be a great concern for crypto, with majorhackshappening regularly.
Chilton was also supportive of the underlying technology. In March 2019, hesharedhis thoughts on various use cases and potential uses of blockchain — comparing it to bamboo — in a video at Hong Kong Blockchain Week called “Blockchain Dreamers and the Properties of Bamboo.” Prior to that, Chiltonclaimedthatbankstend to ignore public ledgers because “they are trying to keep control of the financial system.”
CFTC Chairman J. Christopher Giancarlo, also known as “crypto dad” for his“do no harm” approachtoward crypto, was among many of Chilton’s colleagues wholamented his death. “In the aftermath of the financial crisis, Bart used his signature style of humor to draw attention to pressing issues for the agency and the markets at large, with the intent of protecting retail investors,” the chairmansaid. “With his passing, the commodities world has certainly lost a bit of its sparkle.”
• Former CFTC Exec and Crypto Advocate Bart Chilton Dies at Age 58
• Bloomberg: Institutional Crypto Trading Platform Bakkt May Seek New York BitLicense
• 80 Firms Including MasterCard, Coinbase Spent $42 Mln Lobbying Crypto, Fintech Issues in Q1
• Stalwart Crypto Investor Andreessen Horowitz Raises $2.75 billion for Two New Funds || Vinny Lingham Says Bitcoin May Blow Through $10K, Test $12K Soon: ByCCN: Thebitcoin priceis trading higher headed into the weekend and is currently hovering at $8,572, up 2.7%. After the recent spike beyond $9,000 and dramatic fall back to Earth, the market clearly is doing its best to go higher.
Just askVinny Lingham, who is at the helm of blockchain-fueled ID startup Civic and a general partner at Multicoin Capital. Lingham, who has only recently turned bullish on the bitcoin price, tweeted:
“This BTC action looks aggressive. Makes me think that we may blow through 10k and test $12k very soon; but $12k is a very heavy resistance level, so I would expect consolidation around the $10k level for some time if $12k is (likely) rejected.”
According to reports,Lingham-backed up-and-coming South Africa-based crypto exchange OVEX has completed a second fundraising round.
Technical trader Peter Brandt reflected on Thursday’s correction in the bitcoin price, asking if it was ‘enough to shake the…FOMO buyers from the trees.” He later observed that “BTC appears to be stabilizing after the 12% break on Thursday,” saying:
“I am willing to dip my toes back in the water.” || ‘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 || Latest Bitcoin Cash price and analysis (BCH to USD): Bitcoin Cash (BCH) is once again leading the way in the cryptocurrency market with a 7% climb upwards since the weekend and is currently trading above $440 after a spike in price this morning. While many other altcoins have already made back the gains lost during the market crash of last November/December, Bitcoin Cash has finally caught up to the race after failing to find support around its 200-day EMA in early May. Now, as some coins like Ethereum, EOS, and Litecoin are racing past those pre-November levels, there appears to be an opportunity for BCH to follow-up and press on with its recent gains. Let’s take a look at the latest BCH price action. Looking at the chart above, we can clearly see BTC has broken through some important resistance barriers. Bitcoin Cash broke the $330 level around its 200-day EMA in early May, and the 20-day EMA has now moved above the 200-day EMA – a clear bullish signal. Moreover, volumes have remained strong since mid-May, helping BCH to break key levels and find support initially around $360 and later around $400. If order books stay on the side of buyers, which will become increasingly difficult the more price goes up, we could see BCH continuing to climb past the $440 resistance level. Still, be aware we may experience close to 60% drops, as this did happen in a similar situation during 2015 prior to the last massive bull run. For the time being, I expect BCH to settle above the $440 level with minimal hassle. Safe trades! BCH fundamentals I recently spoke with Bitcoin Cash’s strongest advocate, Roger Ver, and discussed the most recent developments on the horizon for BCH. You can find all the details here , but the most juicy news seems to be the recent spike in adoption due to the implementation of smart contracts. Roger, like myself, believes key components for mass adoption are speed and flexibility. What Bitcoin Cash Oracles offers is a way for any user to easily deploy an “escrow” transaction that can be used to trade globally – without the hassle of trusting the other party. Story continues I personally think these “trade escrows” will be key in terms of adoption, especially for work-related tasks. In a way, they do enable milestone-based funding, which may be the new and better way of conducting ICOs instead of simply creating an extra layer of complexity with STOs that require KYC and accreditation – something that goes against what we should be promoting within the crypto ecosystem. Current live BCH pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest BCH price. Pricing is also available in a range of different currency equivalents: US Dollar – BCHtoUSD British Pound Sterling – BCHtoGBP Japanese Yen – BCHtoJPY Euro – BCHtoEUR Australian Dollar – BCHtoAUD Russian Rouble – BCHtoRUB Bitcoin – BCHtoBTC About Bitcoin Cash Bitcoin Cash was born out of the idea of making Bitcoin more practical for small, day-to-day payments. In May 2017, Bitcoin payments took about four days unless a fee was paid, which was proportionately too large for small transactions. A change to the code was implemented and Bitcoin Cash was born on 1st August 2017. More Bitcoin Cash news and information If you want to find out more information about Bitcoin Cash or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started: Kraken launches Bitcoin Cash and Ripple margin trading By Scott Thompson – May 29, 2019 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 . The post Latest Bitcoin Cash price and analysis (BCH to USD) appeared first on Coin Rivet . || $100 Billion Softbank Fund Flops After CEO Exposes Monster Bitcoin Loss: ByCCN: Just months ago, Japanese tech behemoth Softbank was on top of the world, and CEO Masayoshi Son added $5 billion to his net worth following a well-timedstock buyback program. But fortunes have turned for Softbank and Mr. Son. Softbank stock has slumped nearly 20 percent since its April highs, its Uber investment is looking shaky, and new fundraising efforts are failing. Meanwhile, Mr. Son revealed his monstrous losses from a disastrous bitcoin bet.
Masayoshi Son’s bitcoin investment failed because he bought high and sold low. That seems to be Softbank’s strategy lately. | Source: CoinMarketCap
In April CCNreportedon Son’s brief but regrettable investment inbitcoin, writing that:
“It is not known exactly how much Masayoshi Son, worth an estimated $24 billion, poured into bitcoin. But he appears to have bought in late 2017 as the bitcoin price approached a record high of $20,000. He sold early in 2018 as the price collapsed, taking a $130 million loss.”
For someone worth $24 billion, a $130 million hit isn’t the end of the world. But even for him, it’s not chump change. And unfortunately, Son and Softbank may face worse losses in the future.
Read the full story on CCN.com. || Why Academics Love Bitcoin – and Crypto: For academics, bitcoin, and more broadly crypto, is an exciting space where the ideas they write up in papers actually get built and tested. || A look at Bitcoin’s ‘Coin Days Destroyed’: History of Coin Days Destroyed The concept of Coin Days Destroyed (CDD) was introduced in a 2011 Bitcoin Forum thread by user “ByteCoin” as an alternative to transaction volume. The logic behind the proposal was that CDD was a more appropriate measure of the economic activity in Bitcoin. Instead of measuring the transaction volume, which can be manipulated by one individual moving the same coins back and forth multiple times, CDD gives more weight to coins that have captured more time prior to being moved. For example, someone moving 1 BTC they received 300 days ago would hold just as much weight as someone moving 300 BTC they received one day ago. Join Genesis now and continue reading, A look at Bitcoin’s ‘Coin Days Destroyed’ ! || Facebook Registers Secretive ‘Libra’ Cryptocurrency Firm in Switzerland: According to a Reuters report, Facebook registered a new company, Libra Networks, in Geneva on May 2. This coincides with the slow roll-out of their internal cryptocurrency that will define the company’s first foray into blockchain technology.
Facebook Global Holdings is a stockholder in the new company and it will, according toReuters, “provide financial and technology services and develop related hardware and software, plans submitted on the Swiss register reveal.”
Facebook’s march towards crypto has been slow and steady. The company’s latest move, thehiring of two Coinbase compliance managers, happened on May 14.
Facebook Hires Two of Coinbase’s Former Compliance Managers
TheLibra projecthas ruffled some feathersin Congress, as well. US lawmakers sent an open letter to the company seeking clarification on the currency’s purpose and implications.
They wrote:
The Wall Street Journal recently reported that Facebook is recruiting dozens of financial firms and online merchants to help launch a cryptocurrency-based payments system using its social network. Last year, Facebook asked U.S. banks to share detailed financial information about consumers. In addition, privacy experts have raised questions about Facebook’s extensive data collection practices and whether any of the data collected by Facebook is being used for purposes that do or should subject Facebook to the Fair Credit Reporting Act.
Facebook declined to comment on the new company.Recent rumorspointed to a tentative $1 billion raise to be used to build out the technology.
• Microsoft Launches Decentralized Identity Tool on Bitcoin Blockchain
• Slowly But Surely: May Was a Quietly Big Month for Blockchain
• US Senators Seek Information on Facebook’s ‘Libra’ Crypto Project
[Random Sample of Social Media Buzz (last 60 days)]
Bitcoin [BTC] ‘toxic culture’ feud: Unfair, unethical to make vague allegations, responds Blockstream’s Samson Mow $BTC $BTCUSD #btc #bitcoin https://t.co/HE0SANNY6r || 💰 Market Cap: $250,501,915,625
👊 BTC Dominance: 56.41%
💚 BTC: $7977.48884552
💚 ETH: 0.03222575 BTC
💚 XRP: 0.00005009 BTC
💚 BCH: 0.05258343 BTC
💚 EOS: 0.00079115 BTC
⏰ 22.05.2019 02:41:32
ℹ Powered by #Robostopia || P2PS uses a decentralized peer-to-peer system that is being leveraged by government and defense, digital education and delivery, medical and pharma, #ETH #BTC #P2PS https://t.co/bd7oIoP2Z5 || The idea of this project is so innovative! I've never seen something like this back in my days. #Shato || Buy/Sell Bitcoin movements with up to 100x Leverage at PrimeXBT! 💰🤩
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$CRYPTO - $XMR - $VERI - $CELR - $HOT - $KNC - $IOTA - $NULS - $CRYPTO - $ABT https://t.co/t6spcIsXXs || Bitcoin Cash, Ethereum, and other altcoins follow Bitcoin's lead and pump by more than 6% in under 2 hours - https://t.co/V3GRsnhOnr || If you are checking out my page then you have some sense of cryptoworld. Why wouldn't you check out this ICO? It seems to be notable to be invested in. #Shato || FOLLOW @KryptoCraze for the latest news and updates from the crypto world!
#BTC
#CryptoNews || ビットコイン価格が乱高下する中、ショートで利益を伸ばせるBitmexは取引高100万BTCを突破｜仮想通貨市況 https://t.co/n5SSXmXzd2 https://t.co/CtVxBdrjLy || @Welcomecoin2017 @Crypto_Bitlord Just look at Bitshares-BTC pair history in poloniex exchange via tradingview.. So beautiful chart in weekly timeframe.. It's about blow up in BTC pair as much as 65x current price in BTC and will more insane in USD.. Not financial advice..
|
Trend: up || Prices: 11959.37, 10817.16, 10583.13, 10801.68, 11961.27, 11215.44, 10978.46, 11208.55, 11450.85, 12285.96
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-07-24]
BTC Price: 8424.27, BTC RSI: 78.15
Gold Price: 1223.90, Gold RSI: 30.27
Oil Price: 68.52, Oil RSI: 45.43
[Random Sample of News (last 60 days)]
A Comprehensive ETF to Cover the Rising Importance of Strategic Metals: This article was originally published onETFTrends.com.
As technology advances, the materials needed to support new products now include more exotic strategic metals. Investors who are interested in capturing this new segment can look to a relatively new ETF that provides exposure to a more modern materials space.
"There's a modern day gold rush, and it is really happening in these metals that many people haven't heard about before," Christian Magoon, CEO ofAmplify ETFs, said at the 2018 Morningstar Investment Conference. "So it's lithium, cobalt, nickel, manganese, and even materials like graphite."
To help investors capture these new producers, Amplify recently launched the actively managed Amplify Advanced Battery Metals and Materials ETF (BATT) .
The Amplify Advanced Battery Metals and Materials ETF tries to provide investors with total return by investing in companies engaged in the mining, exploration, production, development, processing or recycling of the metals and materials being utilized in advanced battery technologies, such as Lithium, Cobalt, Nickel, Manganese and Graphite.
"They are used in things like your smart device - that's right, electric vehicles, solar power," Magoon said.
Underlying components must derive 50% or more of their revenue, or be in the top five and have at least 10% of global market share, of any advanced battery material. The portfolio managers also weight companies by screening the current balance between supply and demand for each Advanced Battery Material, forecasted demand growth, commodity price outlook, likelihood of new supply discovery and regulatory and geo-political risk.
Furthermore, allocations may be tactically adjusted based on the financial fundamentals of a company; the inventory and reserves of an Advanced Battery Material relative to its price; a company’s Environmental, Social and Governance (ESG) score; and the discovery of new reserves or other causes of increased or new Advanced Battery Material production.
For more ETF-related commentary from Tom Lydon and other industry experts, visit ourvideo category.
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READ MORE AT ETFTRENDS.COM > || Aussie, Kiwi Underpinned by Increased Appetite for Risky Assets: The U.S. Dollar finished lower against most major currencies last week with the price action primarily driven by a strong recovery in the Euro. Economic data was scare last week so investors had to rely on headlines. Most of the headlines dealt with geopolitical events including this week-ends G-7 summit, trade issues and President Trumps upcoming meeting with North Korean leader Kim Jong-un on June 12. June U.S. Dollar Index futures settled at 93.537, down 0.632 or -0.67%. Japanese Yen The Dollar/Yen finished higher last week as investors continued to react to rising Treasury yields and expectations that the U.S. Federal Reserve will raise interest rates 25 basis points this week. The Dollar/Yen was also pressured by strong demand for higher risk assets. Trading was light because economic reports were scare and the Fed speakers were in their quiet period. Last week, the USD/JPY settled at 109.539, down 0.163 or -0.15%. Australian Dollar The Australian Dollar rose sharply early in the week, but the rally faded as investors reacted to not so friendly domestic economic data, trade war fears and the upcoming interest rate hike by the Fed. Aussie traders also expressed some concerns over renewed talk of problems in emerging markets. The AUD/USD settled at .7598, up 0.0029 or +0.39%. The week started with the Australian government reporting stronger than expected retail sales data. Retail Sales came in up 0.4% after coming in flat the month before. Traders were looking for a rise of 0.3%. The Reserve Bank of Australia delivered a familiar message early in the week saying they were happy with the economy, but still not ready to make a move on interest rates. The RBA left its benchmark interest rate at 1.50% for the 20 th consecutive meeting, the longest span in history. Additionally, investors priced in the chances of the next rate hike for November 2019. Australian GDP came in at 1.0%, beating the 0.9% estimate. Additionally, 2017 fourth quarter GDP was revised upward to 0.5%. Prices spiked on the news, however, the rally stalled when investors realized that this type of growth would not be sustained. The AUD/USD rally started to fade and the Forex pair ended the week with two-straight sessions of losses after the trade balance came in at 0.98 Billion. Although the number matched the estimate, it was still well below the upwardly revised previous report of 1.73 Billion. New Zealand Dollar The New Zealand Dollar posted a small gain last week. There were no major domestic reports so investors piggy-backed the rally in the Australian Dollar. Oversold conditions and increased demand for higher risk assets also drove the Kiwi higher. Story continues The NZD/USD settled at .7030, up 0.0043 or +0.62%. This article was originally posted on FX Empire More From FXEMPIRE: Comex High Grade Copper Price Futures (HG) Technical Analysis In Position to Make New High for Year if Strike Continues Aussie, Kiwi Underpinned by Increased Appetite for Risky Assets Bitcoin Cash, Litecoin and Ripple Daily Analysis 09/06/18 Bitcoin has quiet yet negative week The Week Ahead Trump, The ECB, the FED, North Korea and Trade in Focus US stock markets rally for the week View comments || Intel CEO Resigns: What Investors Need to Know: On June 21, chip giantIntel(NASDAQ: INTC)announced that Brian Krzanich, who was appointed the chief executive officer of the company in May 2013, had resigned, effective immediately. The resignation, Intel says, came after the company had discovered that Krzanich had a "consensual relationship" with an employee who reported to him, violating the company's code of conduct for managers.
While the company conducts what it referred to as a "robust search" for Krzanich's replacement, current chief financial officer, Bob Swan, will serve as Intel's interim CEO.
"Bob has been instrumental to the development and execution of Intel's strategy, and we know the company will continue to smoothly execute," Intel Chairman Andy Bryant said in the press release announcing Krzanich's departure.
Alongside this announcement, Intel also revealed that its second-quarter results came in much better than expected, with revenue of $16.9 billion and earnings per share of $0.99. Intel had previously forecast revenue of $16.3 billion and earnings per share of $0.85.
Here's why I think Krzanich's stepping down is the best news Intel stockholders could've possibly hoped to get.
Image source: Intel.
It's no secret that I don't think highly of the job Krzanich did running Intel. For more than two years, I've beencalling for him to be replaced. Under him, Intel's multiyear edge in chip manufacturing evaporated, and now it looks like Intel is actually behind the competition by anywhere from one to two years.
Intel's manufacturing stumbles could lead to a dramatic decline in Intel's competitiveness across the board, posing a risk to both the company's revenue growth trajectory as well as its profitability. Moreover, Istrongly objectedto Krzanich's messaging around Intel's chip manufacturing position, which came off asill-informed at best, and downright misleading at worst.
Although seeing its manufacturing edge turn into a disadvantage over Krzanich's tenure would be reason alone for Intel to look for new leadership, Krzanich's poor decision-making didn't end with a loss of the company's manufacturing excellence.
Krzanich, for example, led the company's expensive push into the smartphone and tablet applications processor markets, leading tobillions of dollars in realized lossesbefore the company decided to finally call it quits. After killing Intel's organic mobile chip development efforts, Intelinvested in mobile chip maker Spreadtrumto try to get a cut of the mobile processor market, but that ultimately hasn't yielded much.
Although Krzanich did make some reasonable moves, like doubling down on the non-volatile memory market and more aggressively pushing into the Internet of Things market, those businesses are effectively side shows compared to its core PC and data center processor businesses -- businesses that are now at risk thanks to Intel's manufacturing stumbles.
Ultimately, Krzanich was a poor leader -- easily the worst Intel's ever had -- and I think Intel will benefit from having a new, presumably more capable leader at the helm.
One of the nice things about Intel getting a new CEO, irrespective of whether it's an internal promotion or an external hire, is that virtually all of Intel's problems can now be attributed to the previous CEO's decision-making. This should give Intel's new CEO the flexibility to look at the situation with a fresh pair of eyes and make significant changes that Krzanich may not have been willing to do (lest it appear he was admitting defeat).
I don't think it'll be tough to find an executive who can make better use of Intel's vast financial, technical, and human resources than Krzanich was able to.
Unfortunately, a CEO change isn't going to lead to changes in Intel's products or near-term prospects since developing new chip products takes years. The good news, though, is that once Intel weathers the proverbial storm that it might soon face as a result of Krzanich's decision-making, the company could emerge stronger and more competitive.
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Ashraf Eassahas 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. || From Chatroom to Classroom: The Evolution of Blockchain Education: From Chatroom to Classroom: The Evolution of Blockchain Education With the creation of Bitcoin and its blockchain, Satoshi Nakamoto introduced an entirely new practical application for cryptography, unearthing an unexplored area for computer science and technological development. In the years following the technologys inception, community demand for instructional information and educational materials began to rise. Soon after Nakamoto bootstrapped the network, coders would look for guidance on developing the software, business heads would look for information on Bitcoins financial ramifications, and enthusiasts would look for ways to support the network through mining and investing. Early adopters flocked to various online platforms to answer each others questions, share info and problem solve together. As the market began to mature, new coins were introduced and different forms of smart contracts entered the scene, demand for information continued to grow. Over time, a growing user base stepped in to supply the educational fodder to satisfy this demand. Online resources expanded outside of the forums that formed the rockbed of the movement, as instructional videos, white papers and other articles, and even informal online accreditation courses were served up as part of many enthusiasts pedagogical diet. It wasnt until 2013 or so that universities began offering formal courses on blockchain technology, with the University of Nicosia in Cyprus leading the pack. Soon after, top universities in the U.S. and around the world formulated curricula on blockchain development/coding, Bitcoins origins, and the emerging fields of cryptocurrency law and finance. In the realm of education at least, these courses brought a certain institutional legitimacy to the formerly niche movement. But they established a dichotomy between cryptos anti-establishment roots and a sweeping mode of adoption that persists through mainstream culture; whereas in the beginning, the burden of education was supported by community-centric efforts, now, formal institutions are taking up the reins. Story continues What we have going forward, then, is a clear divide between those early adopters who built a library of online knowledge on the foundations that Nakomoto left from 2008 to 2010 and their traditional, collegiate counterparts. As the blockchain continues to write its way into university syllabi across the world, the divide begs the question, What is accreditation for an industry that, until recently, has supported itself without outside authorities? The Era of Self-Education Many of these then-new resources were born from necessity as much as curiosity. Shortly after Bitcoins debut, Nakamoto created bitcoin.org and bitcointalk.org , websites for information on the new digital currency and its intrinsic technology, the blockchain. The two would become invaluable educational resources for Bitcoins earliest early adopters, and even today, they are go-to repositories for blockchain information. Satoshi cemented these sites as the foundation of Bitcoins pedagogical canon, creating them as the first educational tools for an entirely new financial system. In the beginning, they were among the few places early adopters could go to sharpen their knowledge on the subject. Fledgling enthusiasts would flock to bitcoin.org to consult its resources. Per Bitcoins decentralized, peer-driven modus operandi, the website is community supported and relies on donations to subsist. It features an extensive FAQ section, Getting started with Bitcoin and How does Bitcoin work? guides, information for developers and businesses, and even a vocabulary list for must-know terms. For anything in between, community members could turn to bitcointalk.org to engage in open-forum discussions with other adopters. Like a virtual symposium, the website became the hub for blockchain discussion. Over the years, users have enriched each others understanding of cryptocurrency with millions of posts on thousands of topics. Discussions range from rudimentary questions regarding block sizes to complex topics on maintaining mining rigs. Despite the popularity of these sites, as the crypto space grew, so too did its educational environs. Bitcoin.org began chronicling a handful of these in its resources section as members of the community laid the foundations for a second-generation of crypto-knowledge bases. Launched in April of 2010, one such resource, Bitcoin Wiki , became the communitys encyclopedic arm, consolidating much of the disparate information that had circulated to that point. Meetups also began to spring up in cities around the world. Small gatherings of half a dozen Bitcoiners would gather in bars or common spaces where people could ask questions, share ideas and listen to guest speakers on various blockchain-related topics. Over a short period of time, those numbers grew as more people became curious about cryptocurrencies. Early talk shows and podcasts like The Bitcoin Show, Lets Talk Bitcoin! and the Bitcoin Knowledge Podcast were among the spaces earliest literal mouthpieces. The podcasts perked up the communitys collective ear as its first founts of auditory education. Khan Academy , a nonprofit educational website, played a role on this front, as well, releasing instructional videos alongside its own series of FAQs. Many of these then-new resources were born from necessity as much as curiosity. Outgrowing its original digs, the infant movement needed to be outfitted with something that would help it with its growing pains. The community had learned to walk; next, it needed to teach itself how to run. And it had to learn fast, because by 2011, altcoins had entered the race. With Altcoins, the Search for More Knowledge It would take more than just developers swapping tips. It would take educators, media personnel and the coders who had curated the movement to advance it further. Two years and some change after Bitcoin was founded, Namecoin, cryptocurrencys first altcoin, was created. Toward the tail end of 2011, Namecoin would be joined by a few now-defunct alts and Litecoin, Bitcoins most well-known fork. All of these early altcoins were source-code forks, offshoots of the Bitcoin network that tinkered with its code in their own ways to deliver variations of its consensus mechanism, inflation rate, circulating supply and other parameters. With them, the ecosystem not only expanded in volume of coins, it also expanded technically, introducing the forks and all the new hashing algorithms and technical developments that came with it. The ecosystem was evolving, and it was no longer just about Bitcoin. Cryptocurrency was becoming an industry, with blockchain technology as its backbone. A growing ecosystem meant growing interest. What previously was confined to the dark webs illicit marketplaces began attracting developers, entrepreneurs and enthusiasts who were serious about blockchain technologys widespread application. These visionaries began lifting the movement out of the obscurity of the internets shadows and into the light of the mainstream. Shedding this light would require more information than was readily available to keep it kindled. With the technical advancements that came from a budding industry, Bitcoin Wiki, Bitcointalk and bitcoin.org were no longer sufficient to supply the expanding demand for knowledge on blockchain technology and its newcomers. It would take more than just developers swapping tips. It would take educators, media personnel and the coders who had curated the movement to advance it further. Mihai Alisie and Vitalik Buterin seemed to bind all these perspectives into one when they founded Bitcoin Magazine in 2011, launching the first editions in 2012. Now the longest-running publication devoted to Bitcoin, blockchain technology and the cryptocurrency space, Bitcoin Magazine set an industry precedent as its seminal editorial. The niche finally had its readers digest, as the magazines 22 prints dished out news, perspectives, guides and essays on Bitcoin and the emerging market at large. What Bitcoin Magazine came to represent, then, was tangible growth and legitimacy. Whereas before, information came from volunteer-centric websites with loose organization, now there was clear literature on the subject. Serving a similar function yet obviously not nearly as popular, the magazine became the industrys Forbes or Wired or a hybrid of both, a serious publication dedicated to legitimate discussion of blockchain technology and cryptocurrency. Around this same time, the Bitcoin Foundation was gearing up its own operations. Founded in September of 2012, the nonprofit was created with the explicit purpose to standardize, protect and promote the use of bitcoin cryptographic money for the benefit of users worldwide. The operating body gave Bitcoin its first organizational face, a working group dedicated to educating not just individuals, but political leaders, institutional financiers, traditional media and all those who did not have a natural interest in the technology. In general, 2012 became a critical juncture for cryptocurrency. The advent of new coins with their own blockchains, the founding of a cryptocurrency-specific publication and the establishment of a nonprofit that embodied all Bitcoin stood for all seemed to point toward a movement that was inching its way into the mainstream. Coming out of the woodwork, Bitcoin and the industry it spawned drew new enthusiasts into their fold. They would proselytize soon-to-be-experts like Andreas Antonopoulos who, inspired by the promise of a decentralized and global financial system, would become Bitcoin evangelists with a knack for spreading the word. Antonopoulos preached the Bitcoin gospel at conferences and before governing bodies, and began writing extensively on the subject. By 2014, he had published Mastering Bitcoin , one of the first if not the first books to address Bitcoin and its blockchain in hard copy. By 2016, he would publish The Internet of Money , a collection of his talks on Bitcoin and the thriving ecosystem that was developing around it. Antonopoulos would become the spaces principal orator and author, an intellectual mouthpiece of sorts. More than advocates, the likes of Antonopoulos became the informal intelligentsia of an evolving space. Lacking in what most would consider accredited informational sources, these advocates compensated for the lack of cogent, accessible resources on a technology that, for the technologically illiterate, is anything but. They garnered reputations as the industrys de facto experts, and along with a community of hardcore believers, they established a school of thought out of the nebulous knowledge of a nascent technology and the binaries and bits of cyberspace. Fittingly and for better or worse these foundational members of the community decided to forgo traditional education to develop the decentralized space. Buterin received a two-year $100,000 Thiel Fellowship for a white paper he wrote after dropping out of the University of Waterloo and traveling the world. The white paper is considered a genesis document for Ethereum, the first theoretical iteration of the platform that launched in 2015. The decision to chase Ethereums potential paid off. Ethereums code, which was built to easily accommodate smart contracts and the decentralized applications (dApps) that come with them, opened a Pandoras box for blockchain utility. With Ethereum, developers could build on the blockchain in ways that few programmers had been able to do thus far. Up until this point, few if any classrooms were willing to broach the subject, so online blockchain certification courses began to fill this demand in an attempt to establish pedagogical standards for an area of study that was still looking for legitimacy under the public eye. Founded in 2014, one institution dedicated to these courses, the CryptoCurrency Certification Consortium (C4) , even includes Antonopoulos and Buterin on its board of directors. The consortium offers three distinct certificates (Certified Bitcoin Professional, Certified Bitcoin Expert and Certified Ethereum Developer), with the programs spanning two to three years. Another course, the Digital Currency Councils Professional Certification Training Program, offers a pricier, less rigorous, seven-hour course. Eventually, universities and colleges began offering courses dedicated to cryptocurrency finance, law and blockchain development, and they began to redefine what credibility meant for a space that a mainstream audience didnt care for until it became convenient. The Rise of Blockchain Curricula Conceptualizing a course five years ago carried a degree of risk, but like the crypto market writ large, theres a positive relation between risk and expected return. That risk has paid off. By 2014, the movement had made enough noise to attract the attention of academic institutions. Over the coming years, some of Americas leading universities would introduce blockchain- and crypto-concentrated curricula into their course offerings. Before universities began these course offerings, the closest thing to a blockchain accredited education came in the form of online courses. The likes of IBM and the Linux Foundation established blockchain certification courses, a seemingly more legitimate extension of the video series that forerunners like Antonopoulos offered for free. It wasnt long until universities followed suit. Princeton and MIT , for instance, both offer online resources for blockchain education: Princeton with a course on Coursera, and MIT with essays and interactive videos on the subject. Other universities have dug full-bore into the subject area. Vanderbilt, Cornell, Johns Hopkins, NYU, Duke and Stanford all offer classes dedicated to blockchain technology or the cryptocurrency field to some capacity. In its third year, Stanfords Computer Science course on blockchain technology and cryptocurrencies (cs251) is intended for Computer Science students and teaches how the different blockchains operate, how to build applications that interact with the blockchain, and how to write smart contracts, Professor Dan Boneh, the courses instructor, told Bitcoin Magazine . These courses can be taught from different perspectives, Boneh believes. I focus our course on technology, but other professors may choose to focus on law or economics. Indeed, other institutions, such as the NYU Stern School of Business, take an applied rather than technical approach. Since 2014, professors David Yermack and Geoffrey Miller have offered the Digital Currency, Blockchains and the Future of Financial Services course, which focuses on the emerging role of digital currencies and blockchains in money, banking, and the real economy, the courses description states . Duke Universitys offering straddles both the technical and applied aspects of the industry with its I&E 550: Innovation and Cryptoventures course. Taught by Fuqua School of Business professor Campbell Harvey, the course covers areas from cryptofinance to smart contract development, and its multilayered approach has brought a mix of business, law, computer science and engineering students to its lecture hall, Harvey conveyed to Bitcoin Magazine . In 2014, the course began with only 13 students. Now, Harvey claimed in our correspondence, more than half of the Fuqua School of Businesss 2018 graduating class had taken the course before walking this spring. And hes not alone in experiencing such a high turnout. In our interview with Yermack, the professor revealed that over the 20172018 academic year, the course was so popular that [the instructors] had to relocate to the largest lecture hall on campus. Harvey candidly admitted that this was, in part, the result of the hype-induced enrollment of some students. Following the crypto markets exponential rise, he went from 75 students in 2017 to 231 in 2018. Yermack noted a similar trend, indicating that 2018s spring enrollment for his class hit 230 students, a sizable increase from its inaugural enrollment of 35 in the fall of 2014. As with the industry at large, this hype could easily be seen as a blemish, the emotive trappings of an industry marred by volatility and get-rich-quick aspirations. Even so, even in a time when industry hype hadnt reached its peak, these courses werent hard sells. It was easy to get the curriculum approved. The committee was very supportive. In fact, some of the faculty who approve new courses said that they want to take this course themselves, Boneh said. Yermack had a similar experience, while Harvey told us that his original pitch was naturally met with some skepticism. At that time, he said, most thought that blockchain equaled Bitcoin. Many perceived the technology as enabling illegal transactions. In the end, Duke University embraced my course. Harvey added that conceptualizing the course five years ago carried a degree of risk, but like the crypto market writ large, he believes that theres a positive relation between risk and expected return. And to him, the risk has paid off. Its hard to imagine the risk not having an upside given blockchain technologys increased exposure in financial markets, technological sectors and the purview of an increasingly interested global public. Be it for hype or genuine interest, the subject is growing quickly, Yermack told us, and there is a lot of demand from students for courses in the fintech area. This coincides with a rise in demand from the industries technical, financial and anything else the blockchain could disrupt. In my area, Operations Research should be teaching Supply Chain with Blockchain Technology, [and] Accounting should be teaching Financial Reporting with Blockchain Technology, said Harvey. Marketing should be teaching How Blockchain Technology Disrupts Marketing. Finance is low-hanging fruit, and they should be teaching a course called The Tokenization of Everything. Law should have multiple courses on Smart Contracting. They should also offer courses on the regulatory implications. There are a vast array of computer science courses dealing with key aspects of this technology (that are not on the books at most schools). There is much to be taught. Of course, the industrys ever-changing landscape means professors must remain vigilant to keep syllabi up-to-date. With the market and industry constantly in flux, curricula could become markedly different from one year to the next. To keep up with the quickly evolving range of topics, Yermack said that he has to essentially reinvent his syllabus every year, and Boneh revealed that for each new class, he has to redo the bulk of the course from scratch. The industrys dynamicism, it seems, is the primary pain point keeping it from earning a spot in additional course offerings. Some professors are wary of investing the time to learn and teach an unsolidified and unstable subject that, at worst, may be a passing fancy. Currently some faculty are unsure if this area is a fad or if it is here to stay. Clearly, I believe that this technology is here to stay and we need to educate our students how to build on it, Boneh said. With University Offerings, a Pathway to "Qualification" There are a vast array of computer science courses dealing with key aspects of this technology (that are not on the books at most schools). There is much to be taught. What started off as a fringe anti-establishment movement for a cypherpunk niche has found a place in the classrooms of some of Americas leading universities. Like the Andreas Antonopouloses in the earlier days of the emerging field, the professors teaching these courses are trailblazers for a new frontier. This new frontier, the dominion of formal education, is becoming the accredited complement to the old frontier, the virtual domain of unofficial expertise. As such, these professors hope to refine the existing information of the old mode to bring clarity and understanding to an esoteric topic. Blockchain technology is complicated, Harvey said in regard to the difference between academic and nonacademic educational resources. There is a lot of misunderstanding. Even worse, there are people that believe they know blockchain [technology] but are quite ignorant. Academic institutions have an important role in training the next generation of innovators. Boneh expanded on Harveys thoughts, saying that he sees his role less as opening up a new frontier and more as acting as an usher to lead others safely through the old one. All the information is out there on the internet. The problem is that there is too much information online. I view my role as a guide
we teach the students what they need to know, what is important, and what is less so. The students can always read up online to learn more about the topics discussed in class and in the programming projects. Id like to think that students who graduate from the class have a fairly complete understanding of the area. Purely self-study is great, and I highly encourage it, but it can sometimes lead to patchy knowledge. Yermack conveyed that while he believes online resources have a role to play in the market, ultimately they deliver content to a different population and with considerably less depth and rigor than a graduate university course. Undoubtedly, each professor believes that his role and the classrooms structure will herald in a new age of legitimacy for the space. Academic accreditation will no doubt supply a budding workforce with the tools it needs to work in a burgeoning industry, and having Americas top universities vet a formerly stigmatized field promises to be beneficial for adoption and awareness. But the advent of official pedagogical standards for a space that has only ever relied on the sweat of its own brow raises the question: What constitutes accredited instruction in an industry that, until recently, has subsisted on informal educational resources? With makeshift dedication and decentralized organization, the iconoclasts who built this movement never asked for nor needed a degree to create its infrastructure; much like Buterin dropping out of university to realize Ethereum, academia and blockchain development seem to naturally repel each other. As we move into an era of formalized education for the cryptocurrency realm, then, the tensions between the official and unofficial will likely arise. Decentralized diehards will measure whether academia complements or contradicts the educational strides the space has made to this point. Perhaps Bonehs view of the instructor as a guide diffuses these tensions. Rather than invalidate the work that has been done, these professors are expanding on this work. From this perspective, the relationship between old and new, less than adversarial, is symbiotic. Taking a look at the syllabus for Harveys class, for instance: Antonopouloss Mastering Bitcoin , Nick Szabos work on smart contracts, and the Bitcoin white paper are all required readings. These classes may, in the eyes of many, play a more legitimate and licensed role in blockchain education. But their makeup is still reliant on the work of the informal forebears that propelled the movement from its infancy out of the shadows of obscurity. The new mode of education is finally an extension of the old. It carries on the work of the fields earliest experts for a different audience, one likely less inclined to fully grasp its knowledge without clear, concrete guidance. As Yermack indicates, each has its own role to play in the industry at large, and each will no doubt bear its own mark for a technological revolution that still has plenty of growing up to do. This article originally appeared on Bitcoin Magazine . || Op-ed: World Cup — Crypto Edition: It is easy to be allured by crypto and neglect the real world. However, a new mania is coming: for a month everybody will talk about world football cup. Here at Intellectsoft Blockchain Lab we fantasized: what if there was a World Cup for cryptocurrency?
We assumed what crypto projects are the closest to bringing mass adoption of blockchain. While subjective and rather entertaining, please enjoy the road to glory by these projects.
For your convenience, we have grouped the projects according to their themes and objectives. Honestly, only one project in Group A aims to replaceBitcoin(BTC): it’s Bitcoin Cash (BCH), a fork of the main chain. Others rather offer improvements to the oldest and most-known cryptocurrency.
For instance, Litecoin (LTC) is 4 times faster in terms of transaction speed (2,5 minutes per block) and is among the first projects to test new technology within the network, like the Lightning Network. Similarly, Dash (DASH) positions itself as instant and secure electronic money. Monero (XMR) has brought total anonymity to its holders, a counterweight to the Bitcoin’s pseudonymity when one could still track the owner of the public address. Finally, Zcash (ZEC) is a new star of private cryptocurrencies.
Ethereum(ETH) has served well as a platform for ICOs, DApps, and Crypto Kitties. However, the competition has arrived: Neo (NEO) aims to become a Chinese Ethereum with its own ecosystem.
Blockstack is a new internet for decentralized apps, pretty much like EOS with their largest and longest ICO ever. Lisk (LSK) allows developers build blockchain with JavaScript, and NEM (XEM) acts as a platform for experimenting with smart contracts using many other widely known programming languages.
Forking Bitcoin was fun while ICOs drove more people to crypto. However, as the hype vaporized, investors started questioning the plethora of coins in existence: do we need so many cryptocurrencies? Even if they solve a problem, is there a market need? Let’s look into blockchain projects that can actually make money.
Storj (STORJ) lets people lend their computer memory while earning money. This decentralized digital storage claims to cut the cost of conventional services by 50% and bring more security to the data, at a fixed rate. Golem (GNT) serves another digital demand: computing capacity. As a result, users can lend their PC power to large organizations or individuals who need it, for a fee.
Modum (MOD) solves an issue with transporting medical products in necessary conditions saving producers up to 60% of the costs. WaltonChain (WTC) creates a business ecosystem integrating blockchain with IoT, but what it does in reality is disrupting supply chain in industry and retail. Connecting its RFID chips, the project ensures the authenticity of goods. Finally, Ripio Credit Network (RCN) liberates micro-lending in developing countries while earning an interest rate.
One cannot but agree that while bubbles pop, an infrastructure stays. There are numerous blockchain studios that understand the importance of helping others to acquire distributed ledger technologies (DLTs). We have picked these players to showcase their expertise: Stratis (STRAT), Qtum (QTUM), Komodo (KMD), Waves (WAVES), and VeChain (VEN). These are only some of the blockchain development solutions that help others implement their business ideas using ready platforms.
Centralized crypto is evil, just ask Elliot. While a “no-no” from Satoshi, such projects also serve their mission in the ecosystem. RipplePay (XRP), for instance, has been a digital currency solution for enterprises long before Bitcoin and only later incorporated blockchain to become Ripple (XRP) and improve accountability.
Tether (USDT) brought some stability to crypto traders by allowing them to fixate profits in a dollar-backed equivalent. Amazon Web Services launched Blockchain Templates offering “blockchain-as-a-service” or BaaS to compete with similar products from IBM and Oracle. But is it even decentralized? It is another question.
Meanwhile, corporations join the party exploring blockchain potential within various consortia or their own R&D labs. For example, R3 works with over 200 financial institutions using their Corda technology whereas IBM’s Hyperledger is another popular blockchain framework.
At least in theory, these projects are colossal. They claim to be the “everything blockchain.” Meet Ark (ARK), with the objective of allowing endless interoperability between different blockchains that work in parallel. Blocknet (BLOCK) aspires to be a “connector between blockchains, markets, and communities” using atomic swaps and interoperability. Aion (AION) makes a take on scalability and multiple blockchains issues.
Cardano (ADA) is a fully open source decentralized public blockchain and cryptocurrency which uses a research-first approach. It was among the first massive blockchain collaborations that attracted many scholars to work on the project.
Telegram Open Networkor TON is a blockchain mega project by Durov brothers. Its inherent GRAM tokens will power a new decentralized and censorship-resistant economy. The authors position the project as the 5th generation blockchain which adds sharding paradigm, heterogeneous and homogeneous multichain systems and arbitrary code in addition to other characteristics.
Well, F sometimes stands for “Fail” and we placed there projects that didn’t qualify for the World Crypto Cup. Bitconnect (BCC) — disqualifieeeeeeed! TRON (TRX) raised red flags as the community found its whitepaper mostly plagiarized and marketing overhyped. Despite the cuteness of Dogecoin (DOGE), it was always meant as a fun educational project but speculators inflated its market capitalization to $1 billion several times.
Tezos was among the biggest early ICOs that promised to be both innovative and reliable. None of it appeared true; instead, the project’s team split and spent more time in courts than on the actual development. Swisscoin and hundreds of others happened to be scams, hacks, and parodies.
About the author: Nick Kurat is a co-organizer of the “Blockchain: Rethink Trust” conference taking place in Amsterdam this June. He is also Director of Intellectsoft Blockchain Lab.
Disclaimer: The views expressed in the article are solely that of the author and do not represent those of, nor should they be attributed to CCN.
The postOp-ed: World Cup — Crypto Editionappeared first onCCN. || Kinder Morgan Inc Stock: Next Stop, $20?: Kinder Morgan's(NYSE: KMI)stock has been all over the map this year, peaking at more than $19.50 a share before tumbling below $15. The stock has recovered a bit, recently rising to around $17 on the heels the company'sagreement to sell the controversial Trans Mountain Pipeline to the Government of Canada. However, shares could have further to run according to an analyst atWells Fargo, who upgraded the stock to outperform and set a $20 price target, implying double-digit upside from the current price. Here's a closer look at why this analyst believes Kinder Morgan's next stop will be $20 a share.
The main driver of the Wells Fargo upgrade was the recently announced sale of the Trans Mountain pipeline and associated expansion project to the Government of Canada. The move not only removes the uncertainty surrounding the hotly contested expansion -- which is already a year behind schedule -- but significantly improves the company's balance sheet.
Image source: Getty Images.
While the sale of the pipeline does cut Kinder Morgan's growth project backlog in half, it also removes a major cloud of uncertainty since there was no guarantee the company would ever finish the expansion project. Meanwhile, the company will receive a multibillion-dollar cash infusion from the sale, which will bolster its balance sheet. According to the Wells Fargo analyst, Kinder Morgan's debt-to-EBITDAratio will end the year at 4.5, which is much lower than the 5.1 level the company expected. That improved leverage ratio will help remove the other weight that has been holding shares down over the past few years.
With those two weights lifted, Kinder Morgan's stock should be free to move up toward the $20 a share level. That price point makes sense because it implies that shares would sell for roughly 10 times cash flow. While that would still be below the peer group average of about 11 times cash flow, it's an improvement from the current bottom-of-the-barrel level of around eight.
Another reason Wells Fargo has turned bullish on Kinder Morgan is that it sees additional catalysts on the horizon. These include the possibility of announcing new expansion projects that would improve its growth visibility, as well as the potential for it tosell its carbon dioxide business, which produces oil by injecting carbon dioxide into depleting oil fields.
The first catalyst is highly probable. Kinder Morgan has already stated that it's developing several expansion projects, including being in theearly stages of another pipeline to move natural gas out of the Permian Basin. That's one of several opportunities it's exploring in the region, which could help replace the growth it hoped to deliver by expanding Trans Mountain.
In addition, for quite some time there have been rumors the company is exploring a sale for its carbon dioxide business and the associated oil production assets since they don't fit within its portfolio of stable fee-generating assets. With oil prices improving over the past year, that business is now much more valuable, making a sale or spin-off a more viable option.
Kinder Morgan could also explore acquisition opportunities, especially in Canada. The company made it clear that it has no plans to abandon the country even after giving up on the Trans Mountain Pipeline, and couldspend its windfall from selling that pipelineon acquiring midstream assets in the country. CEO Steve Kean stated on the company's first-quarter conference call that "it's not a large group of players there, but there are some very capable players with good midstream assets," that Kinder Morgan would have interest in buying.
As the company unveils additional expansion projects and decides what other strategic moves it plans to make, this new information will give investors a better idea on how fast it can grow cash flow in the coming years. The higher that number, the more likely shares will fetch a valuation at or even above the peer group average.
Unless the stock market or oil prices fall off a cliff, it seems highly probable that Kinder Morgan's next stop could be $20 a share. The company has removed the main weights holding it down, which should allow shares to fetch a valuation closer to its peer group average. There could be even more upside as the company's growth picture comes into clearer focus. Those factors are among the many that make this stock agood one to buy right now.
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Matthew DiLalloowns shares of Kinder Morgan. The Motley Fool owns shares of and recommends Kinder Morgan. The Motley Fool has adisclosure policy. || American Airlines Stock Hits a New Multiyear Low -- but This Rival Is a Better Buy: Airline stocks have plunged this week for two major reasons. First, trade tensions with China caused investors to start worrying about demand. Second, oil prices have started moving higher again, following a brief respite prior to last week's OPEC meeting.
Not surprisingly, the airlines with the lowest profit margins have been hit hardest. These carriers are the most vulnerable to fuel price increases and demand shocks, as small changes in their profit margins can severely impact their earnings. During the past year,American Airlines(NASDAQ: AAL)has fallen into the bottom echelon of U.S. airlines in terms of profitability, and so its share price tumbled 7.5% in the first three days of this week.
American Airlines Weekly Stock Chart, data byYCharts.
American Airlines stock closed at $38.26 on Wednesday, its lowest level since 2016. Yet while the stock is starting to look cheap, investors would probably be better off sticking with shares of its smaller rival,JetBlue Airways(NASDAQ: JBLU).
In 2017, American Airlines' pre-tax margin fell to 9.1% from 12.6% a year earlier (and more than 15% a year before that). Profitability is set to decline again in 2018. While American Airlines has posted solid unit revenue growth over the past two years and is even starting toget nonfuel unit costs under control, it hasn't been able to fully cover the recent increases in its fuel costs.
American's management does recognize that it must stabilize the company's profitability, even if fuel prices continue to trend higher. In early May, American Airlines decided to cancel its Chicago-Beijing route, which has been losing tens of millions of dollars every year. American Airlines is also reducing or eliminating service on several routes to Brazil.
The capacity from these routes is being redeployed in markets that are likely to perform better based on current demand conditions, including Argentina, Hawaii, the Caribbean, and Europe. American Airlines is ready to make additional route adjustments if needed, such as dropping its other loss-making routes from Chicago to Asia. These moves may help American Airlines slow or even reverse its profit declines.
While American Airlines is starting to move in the right direction, the domestic fare environment could be challenging for the foreseeable future, due toUnited Continental's aggressive growth plan. (Americancompetes primarily with Unitedin several of its hubs.)
American Airlines may face stiff competition on domestic routes in the coming years. Image source: American Airlines.
In the long run, JetBlue Airways' steady growth represents an even bigger threat. Unlike other competitors that American Airlines has faced in the past, JetBlue threatens to steal some of American's most valuable customers by underpricing it on premium seats -- and potentially offering better service.
JetBlue's combination of price and service allowed it to become a force in the New York-Los Angeles and New York-San Francisco markets between 2014 and 2015. It'supgraded 10 more transcontinental routesto its Mint premium service since then, with great success.
Flights to Europe could be the carrier's next target. JetBlue is currently evaluating adding a long-range version of theAirbusA321 to its fleet, which would enable flights from the Northeast to much of Western Europe. A natural first step would be flying from its New York and Boston focus cities to London. American Airlines and joint venture partner British Airways currently fly four times a day from Boston to London and 16 times a day from New York to London. These routes are particularly lucrative for the two carriers.
With the A321LR, JetBlue could also fly from its Fort Lauderdale focus city further into South America, disrupting American's monopoly on several routes to South America from Miami. Thus, American Airlines could be uniquely vulnerable to JetBlue's future growth.
After its recent tumble, American Airlines stock trades for less than eight times analysts' 2018 earnings expectations. If oil prices recede and American is able to continue posting even modest unit revenue growth, EPS could surge higher over the next few years, making American Airlines stock a steal at its current price.
That said, oil prices could continue to rise. Furthermore, increasing competition -- especially for premium passengers -- could erode American's unit revenue growth. To make matters worse, American Airlines has a huge debt load, making it vulnerable to an industry downturn.
By contrast, JetBlue has a pristine balance sheet, with almost as much cash as debt on the books. JetBlue's focus on coastal markets and transcontinental flights makes it less vulnerable to the fare wars occurring in Mid-Continent hub markets. JetBlue also has a lot more room to grow than American Airlines, thanks to its comparatively small size today.
Despite all of these advantages, JetBlue stock trades for just 11 times analysts' 2018 earnings estimates. Long-term investors are likely to be better off paying a modest premium and betting on this disruptive growth company rather than trying to time a bottom in American Airlines stock.
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Adam Levine-Weinbergowns shares of JetBlue Airways and is long January 2019 $10 calls on JetBlue Airways. The Motley Fool recommends JetBlue Airways. The Motley Fool has adisclosure policy. || Forget GE. Consider This Other Iconic Dividend Stock Instead: Although the name is still iconic, General Electric Company (NYSE: GE) has been going through a very difficult period. The businesses underpinning the industrial giant aren't what they were just a couple of years ago, and the change isn't over yet. Most investors would be better off avoiding it. The Procter & Gamble Company (NYSE: PG) , on the other hand, is offering investors a large yield and boasts a still-robust business. Here's why most dividend investors would be better off forgetting about GE and buying P&G. An existential crisis General Electric's problems date back to Jack Welch, which to some might sound like heresy. Although lauded as a management genius, he allowed the diversified industrial company to stray too far into the finance business. When the deep 2007 to 2009 recession hit, after Welch had passed the reins on to a new CEO, the finance arm's troubles led to a dividend cut and a government bailout. A woman drawing a risk versus reward graph Image source: Getty Images. General Electric quickly got to work rethinking its portfolio. The conglomerate shed non-core assets (like a television network) and trimmed the size of its finance business. Although the top and bottom lines were still in flux because of the corporate makeover, it appeared that the company was going in the right direction. Note that dividends starting to grow again in 2011. But the positive outlook for the future died in late 2017, when a new CEO was named . John Flannery quickly reined in expectations and cut the dividend by 50%. More notable, however, he announced that the company was undertaking a portfolio review to improve long-term performance and positioning...and that nothing was off the table. GE is set to make huge changes, including jettisoning large businesses so it can refocus on a smaller core. PG Dividend Per Share (Annual) Chart PG Dividend Per Share (Annual) data by YCharts . Although there appears to be material recovery potential at GE, it is really a special situation stock at this point. Most investors would be better off avoiding it as it works through what amounts to a massive existential crisis -- one that's likely to result in further changes to the dividend once the dust settles . Story continues A better option The uncertainty at GE is a good reason to be worried about owning the stock, but the bigger issue is the fact that it's making massive changes to its business. Even an educated guess about what the future holds would be hard to make at this point in time. That's a risk not worth taking for most investors, which is why Procter & Gamble and its 3.7% dividend yield is a better option. Like GE today, Procter & Gamble went through a huge portfolio overhaul not too long ago . However, this wasn't a breakup of the company as much as a trimming of the fat. The businesses this consumer-product giant jettisoned were smaller and lower margined than what it retained. This helps explain why revenues fell each year between 2012 and 2017, while the company's operating margin improved from 17.1% to 21.5%. Notably, P&G was able to continue increasing its dividend every year as it streamlined its business. The annual dividend streak is now up to an incredible 62 years and counting. That's a huge statement about the company's inherent financial strength, commitment to shareholders, and expectations for the future. The trouble today, though, is that consumer products companies are dealing with changing customer desires. That's one of the key reasons Procter & Gamble's yield is at the high end of its historic range. In fact, the yield is roughly as high as it was during the depths of the 2007 to 2009 recession. It looks like a good opportunity for income investors to buy an iconic company. PG Dividend Yield (TTM) Chart PG Dividend Yield (TTM) data by YCharts . The important takeaway, here, is that changes in customer buying habits may increase the uncertainty at P&G, but I don't think it materially increases the risk. P&G has a long and successful history of innovation and change; you don't get to 62 consecutive annual dividend hikes by accident, or without going through some difficult periods. It has, for example, been introducing "natural" products to adjust to customer's desires. And it has also been more aggressive in taking on new competitors, including internet-focused razor companies in its key Gillette business. P&G is changing with the times and has a history of success that suggests it will, eventually, figure out how to succeed this time, too. In fact, results are starting to look encouraging. Revenues, for example, have grown year over year in each of the last three quarters. That's the first step toward a brighter future, since it is an indication that Procter & Gamble's business shifts are gaining traction. That's not to suggest that there's no risk here -- P&G is still a work in progress in some ways since the internet is materially altering the way customers interact with companies. But it is clearly further along than GE, and its top-line upturn is a positive sign. Add in a low level of debt, with long-term debt at roughly 30% of the capital structure, and P&G easily looks financially strong enough to keep supporting both its portfolio tinkering (the heavy lifting has been done already) and the dividend. Don't take on more than you need to General Electric's portfolio overhaul is huge and still in progress. It is not the same company it was just a few years ago, and it will be a very different company again a few years from today. There's sizable turnaround potential, but only for investors willing to stomach the risk of a special situation stock. The dividend, meanwhile, has already proven to be at risk with no certainty that it will survive intact as the industrial giant moves into a new phase of its corporate life. This is why most investors, notably those looking for a reliable dividend stock, would be better off buying Procter & Gamble today. It has already been through a major portfolio overhaul without a major impact on its dividend, and it is addressing current industry shifts with new products and a more aggressive defense of its core brands (notably Gillette). A resumption in sales growth in recent quarters is an initial indication of success that investors don't appear to be recognizing based on the historically high yield. Now looks like a good time for dividend investors to buy P&G. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Reuben Gregg Brewer owns shares of Procter & Gamble. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || The 1 Reason to Avoid 3M Company's Stock: The 16% year-to-date dip in the stock price of3M Company(NYSE: MMM)is naturally going to attract value investors toward the Dividend Aristocrat. After all, the company now sports a near 2.7% dividend yield, and more than60 years of dividend increasesattest to its history of delivering for investors. However, I think the stock is still worth avoiding. Incoming CEO Mike Roman's presentation at the recent Electrical Products Group (EPG) conference did little to dispel fears concerning the company's pricing power -- a key part of its business model. Let's take a look at why, as well as what was discussed at the event.
Image source: Getty Images.
3M has long prided itself on its ability to use research and development (R&D) in order to create differentiated products. In plain English, this means 3M's solutions aren't commodity-type offerings and therefore tend to have some pricing power. So, 3M should be able to grow revenue through increasing price without suffering significant drop-offs in volume while maintaining strong margin.
Outgoing CEO Inge Thulin was always keen to remind investors of 3M's business model, and Roman's EPG presentation followed a similar theme.
Indeed, 3M has demonstrated an ability to command margin, thanks to offering differentiated products. As you can see below, 3M's gross margin has been consistently superior to other leading industrial companies, including its best comparable multi-industrial peer,Illinois Tool Works.
MMM Gross Profit Margin (Annual)data byYCharts.
But here's the thing: There appear to be some cracks forming in 3M's business model. As you can see below, 3M has been increasing its R&D expenditures in the last decade on an absolute and relative basis.
MMM R&D; to Revenue (TTM)data byYCharts.
There's nothing wrong in this per se, but it needs to be backed up by demonstrable improvement in pricing power. Unfortunately, 3M appears to be losing ground on this issue.
For example, the chart below shows two things that should concern investors. First, although total company sales growth was good in 2017, it was largely due to volume improvements --3M particularly benefited from a cyclical improvementin its electronics and energy segment in 2017, rather than any improvement in pricing.
Second, the chart seems to show an inverse relationship between pricing and volume. This is the sort of relationship you might expect from commodity-type products that don't possess much pricing power -- as prices rise, volume falls. In other words, this is precisely the kind of outcome that 3M is trying to avoid by investing in R&D.
Data source: 3M Company presentations. Chart by author.
Moreover, 3M's less cyclical segments (healthcare and consumer) arestruggling to grow in line with management's mid-term guidance. The consumer segment has only grown in line with guidance in one of the last eight quarters, and the healthcare segment has only done this three times in the same period. The cracks are showing.
The issue of pricing came to the forefront at EPG, and Roman's response wasn't particularly convincing. In a nutshell, he said that in the first half of 2017, 3M was slow moving "into a higher growth marketplace," but in the second half, management adjusted and set the company up for stronger pricing. He cited the stronger pricing performance in the first quarter of 2018 as a sign of improvement.
Additionally, it's worth noting that on the first-quarter earnings call,CFO Nick Gangestad stated,"we expect price growth to remain strong, and that it will more than offset raw material inflation" for the remainder of the year.
Roman's argument and Gangestad's forecast are open to question for two main reasons. First, the first-quarter organic growth of 0.7% from pricing is not what you might expect from a company trying to take pricing in a growth environment. In fact, it's lower than any figure produced by 3M in 2015 -- recall thatU.S. industrial production was in recession during 2015-2016.
Second, going back to3M's second-quarter 2017 earnings call, Gangestad claimed 3M was making "selected price adjustments," but he expected "more normal price growth for 3M" in the second half of 2017. It didn't happen.
The reality is 3M didn't have anything like "normal" price growth in 2017. It could be argued that the strong volume growth in the second quarter was achieved because 3M didn't take aggressive enough action on pricing -- a sign that 3M doesn't have significant pricing power.
As you can see below, 3M stock has long commanded a premium compared to peers in its sector -- a large part of the reason why is its reputation for having products with pricing power.
MMM EV to EBITDA (Forward)data byYCharts.
Frankly, it's too early to tell just yet, but the warning signs are there. Management, for the second time in two years, is promising a better pricing environment in the second half of the year. However, I think cautious investors will want to hold off buying the stock in order to see if 3M will achieve this aim while also maintaining its --downwardly revised-- organic sales growth guidance of 3%-4% in 2018.
If 3M can't get back to demonstrating that it has pricing power -- a key part of its business model -- then investors have reason to question whether the stock continues to deserve its premium valuation rating compared to its sector.
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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
Lee Samahaowns shares of Honeywell International. The Motley Fool recommends 3M. The Motley Fool has adisclosure policy. || Bitcoin Miners in China’s Remote Regions are Undeterred By Restrictions: Though Chinese authorities havepreviouslytaken various measures aimed at curtailing the trading of cryptocurrencies, the mining of Bitcoin has continued unabated in some of China’s remote parts according to a Nikkei Asian Reviewreport.
These regions enjoy excess electricity supply capacity and are considered poor relative to the economic powerhouses of Beijing and Shanghai. They include Sichuan Province, which is fondlyknownas the capital of Bitcoin mining, and Qinghai Province.
In China’s Qinghai Province one of the large-scale mines is owned by the ‘fuerdai’, a term used to describe the rich kids of the country’s military and Communist Party officials and other elite. While both Sichuan and Qinghai provinces enjoy abundant and cheap electricity, the two neighboring regions are relatively poor due to their heavy reliance on tourism and the mining of ground resources. Qinghai, for instance, plans to develop cryptocurrency as an industry in the hopes of creating jobs and generating revenues for the local government.
While there were reports earlier in the year that Chinese authorities were putting in place measures aimed at severely curtailing the mining of cryptocurrencies this has not materialized. According to Nikkei Asian Review, one of the reasons why a complete obliteration of the sector has not happened is because China is keen on influencing the international flow of money. The United States already enjoys this power through the U.S. dollar and cryptocurrencies could do the same for China.
“Xi [the President of China] desires this power for China, similarly to how the U.S. seeks to retain the dollar’s key-currency status through its network of transactions worldwide,” observes the Japanese publication.
Currently, it is estimated that China’s share of the globe’s cryptocurrency mining capacity is around 70%. The chief executive officer of Ripple, Brad Garlinghouse, was even recentlyquotedas saying that ‘Bitcoin is really controlled by China’.
Thedominanceof the world’s most populous country in Bitcoin mining is partly due to the fact that cheap electricity is abundant in the country. Besides Sichuan and Qinghai, regions such as Inner Mongolia and Xinjiang possess huge coal resources and the mining of cryptocurrencies is an opportunity to transform their less-sophisticated economies.
The world’s second-largest economy is also home to some of the leading manufacturers of crypto mining hardware and this includes Bitmain Technologies. The Bitcoin mining giant Technologies, for instance, has put up some of the world’s biggest mining facilities in Inner Mongolia. As an illustration, the Inner Mongolia city of Ordos sells electricity to Bitmain at only $0.04 per kWh, well below the prices in other parts of the world.
Featured image from Shutterstock.
The postBitcoin Miners in China’s Remote Regions are Undeterred By Restrictionsappeared first onCCN.
[Random Sample of Social Media Buzz (last 60 days)]
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3位「NEO」⇨491.4倍 || #WorkItRed How do bitcoin exchanges make money? http://bit.ly/2DzXPvz pic.twitter.com/nbUU9LfC7I || El precio actual del #BITCOIN es de 6335.00$ http://bit.ly/2j4Lx9q #HODL || Bitcoin 10/25 値打ちが下がったので1bit強全て売却した。10万程利益があったが
15：00ころにはまた爆上げ。Bitcoingoldが欲しかったのですが我慢できず売ってしまった。毎日チャートを見て一喜一憂する必要がなくなったので結果売却してよかったのかも・・・ || #BTCUSD Market #1H timeframe on July 12 at 04:00 (UTC) is #Bearish. #cryptocurrency #bitcoin #btc #crypto #trading #idea #report technical analysis || Bitcoin - BTC
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#monaコイン #monacoin #ビットコイン #bitcoin #仮想通貨 #暗号通貨 || ( Join the Gemax Airdrop. Sign up and complete the following steps to recieve 8,500 GMAX Tokens. https://docs.google.com/forms/d/e/1FAIpQLSeuvD5sX1Py5GJIiIyxGURrhHjYY6_oyAYMVSroP0xheWI2jg/viewform?c=0&w=1 … #GEMAX #airdrop #bounty #BTC #freetoken #Crypto #Blockchain #tron #trx #airdrops #Token ) https://twitter.com/gemax_io/status/1001397800133906432 …
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Trend: down || Prices: 8181.39, 7951.58, 8165.01, 8192.15, 8218.46, 8180.48, 7780.44, 7624.91, 7567.15, 7434.39
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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.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Market Wrap: Bitcoin Stumbles to $11,300; USDC Lending Rates Skyrocket: As the bitcoin market sees red, DeFi opportunities in stablecoin trading have some borrowing rates exploding to double digits. Bitcoin (BTC) trading around $11,342 as of 20:00 UTC (4 p.m. ET). Slipping 4% over the previous 24 hours. Bitcoin’s 24-hour range: $11,299-$11,943 BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians. Heavy sell volumes on spot exchanges such as Coinbase caused a fall in bitcoin’s price to as low as $11,299 Tuesday. Profit-taking is one driver of the dip, according to Chris Thomas, head of digital assets for broker Swissquote. “There are naturally some traders looking to take short term profits here, which is driving us lower,” Thomas told CoinDesk. Read More: Bitcoin Rally Stalls as Increasingly Correlated Gold Drops Below $2K Related: Market Wrap: Bitcoin Rebounds to $11.5K; Ethereum’s Gas Woes Worsen Katie Stockton, a technical market analyst for Fairlead Strategies, says there are signs the bitcoin market in the short term may be headed even lower. “Bitcoin has seen upside follow-through on the back of its breakout above important resistance in the $10,000-$10,055 area,” Stockton said. “There are some signs of short-term exhaustion, however, that suggest a pullback could unfold over the next week.” Traders were hitting the sell button on economic hedges Tuesday. Gold was in the red 5.6% and at $1,913 as of press time. Over the past month gold remains up, having gained 6.4%. Meanwhile, bitcoin has appreciated 22%. Andrew Tu, an executive at crypto quant training firm Efficient Frontier, says a temporary bearish market for bitcoin won’t last, despite price dumps. “If the market faces exhaustion, we could see a larger correction,” he said. However, a positive news cycle will eventually bring another rally, Tu noted. “With all the positive news surrounding bitcoin, as well as the recent altcoin pumps, it is clear that the market sentiment is highly positive.” Story continues Read More: MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’ USDC opportunities skyrocketing dYdX rates Related: First Mover: How a DeFi Trader Made an 89% Profit in Minutes Slinging Stablecoins The second-largest cryptocurrency by market capitalization, ether (ETH), was down Tuesday trading around $378 and slipping 4% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More: Alchemy Goes Public With Developer Platform in Bid to Grow DeFi The decentralized finance, or DeFi, lending and trading platform dYdX is seeing a jump in borrowing rates on its platform. It’s currently over 11.7% on average, a high not seen since its competitor lender Compound’s emergence in late June, ushering in a wave of interest in DeFi overall. The catalyst for rising rates on dYdX are derived from the USDC stablecoin, which has seen its borrowing rate jump as high as 25% this week. DeFi observer “Ceteris Paribus” noted on Twitter that borrowed USD coin (USDC) is being used by traders for quick arbitrage opportunities. In this instance , a trader took advantage of stablecoin tether’s (USDT) price relative to USDC on trading platform Uniswap and borrowed from dYdX. This caused lending rates to jump outrageously as it soaked up the supply of loanable funds; the trade likely involved trading USDC for ether, then trading ether for tether because it is more liquid than trading USDC for USDT outright. The two stablecoins are both supposed to be priced close to one U.S. dollar, but supply and demand on individual exchanges may cause prices to fluctuate. “Trader had $45,000 USDC, borrowed another $405,000 on dYdX to give them $450,000 USDC,” reads the tweet. “Traded that $450,000 USDC for $492,000 USDT on Uniswap. Traded $492,000 USDT for $492,000 USDC on Curve. Paid off $405,000 dYdX loan. Started with $45,000 USDC, ended with $87,000 USDC, and paid $2,000 in fees.” Thus the arbitrage opportunity, although risky, would net a trader $40,000 on just $45,000 of crypto collateral, a profit of nearly 89% in a short amount of time. Other markets Digital assets on the CoinDesk 20 are mostly in the red Tuesday. Notable winners as of 20:00 UTC (4:00 p.m. ET): bitcoin gold (BTG) + 4.4% iota (IOTA) + 3.1% tezos (XTZ) + 1.4% Read More: Chia Network Raises $5M to Rival New Crop of DeFi-Friendly Base Layers Notable losers as of 20:00 UTC (4:00 p.m. ET): basic attention token (BAT) – 8% zcash (ZEC) – 7.5% 0x (ZRX) – 5% Read More: Ethereum Classic’s Terrible, Horrible, No Good, Very Bad Week Equities: Asia’s Nikkei 225 ended the day up 1.8% after a three-day weekend, boosted by pharmaceutical company Eisai, which rose 13.7% . Europe’s FTSE 100 closed in the green 1.7% as hopes of a coronavirus vaccine breakthrough boosted economic optimism . The United States’ S&P 500 lost 0.80% as late session declines in tech stocks including Apple and Netflix pushed the index into the red Tuesday . Read More: Riot Blockchain Mined 508 Bitcoin in Q2 Commodities: Oil is down 1%. Price per barrel of West Texas Intermediate crude: $41.52 Read More: Falling 65% This Year in Bitcoin Terms, Do ‘Stablecoins’ Need a Rebranding? Treasurys: U.S. Treasury bonds all climbed Tuesday. Yields, which move in the opposite direction as price, were up most on the two-year, in the green 9.8%. Read More: India May Be Starting Its Biggest Bitcoin Bull Run Yet Related Stories Market Wrap: Bitcoin Stumbles to $11,300; USDC Lending Rates Skyrocket Market Wrap: Bitcoin Stumbles to $11,300; USDC Lending Rates Skyrocket || Bitcoin Has American Mindshare but Few Users: J.P. Koning, a CoinDesk columnist, worked as an equity researcher at a Canadian brokerage firm and is a financial writer at a large Canadian bank. He runs the popular Moneyness blog. Bitcoin usage in the U.S: Everyone knows about it, but still few takers The Federal Reserves annual Survey of Consumer Choice is out. It looks like 2019 was an unspectacular year for cryptocurrency adoption. Related: Market Wrap: Bitcoin Sticks Around $9,200 as Traders Eye Other Markets for Action See also: J.P. Koning How Bitcoin Is Like Ham Radio Consumer surveys are one of the best ways to get information about what people actually use to make payments. The best surveys are run by private companies such as Visa, PayPal and Wells Fargo, which means the data is proprietary we dont get to see the results. Lucky for us, the Federal Reserve, the U.S.s central bank, carries out an excellent annual survey called the Survey of Consumer Payment Choice (SCPC). It makes all of the data public. The bulk of the information the SCPC collects concerns conventional payment instruments like cash and cards. For instance, cash usage continued to fall in 2019, accounting for 21.5% of all U.S. consumer payments in a typical month, down from 23.5% in 2018 (and 30% in 2009!). Meanwhile debit, credit and prepaid cards combined for 61.4% of all payments in 2019, up from 60% in 2018. Thanks to the coronavirus pandemic, this is likely to be higher in 2020. If youre interested in payments, Id suggest giving the summary results of the 2019 SCPC a closer read. For the rest of this article Im going to focus on one small corner of the SCPC, cryptocurrencies. Related: How a Digital Dollar Can Make the Financial System More Equitable The SCPC has been quietly gathering information about cryptocurrency usage since 2014. Each year it adds or subtracts new questions in an effort to better understand how Americans are using bitcoin , Ethereum , XRP , and more . Story continues Bitcoin has succeeded in grabbing an impressively large chunk of American mindshare. However, common knowledge of bitcoin tends to be of poor quality. One of the longest-running cryptocurrency questions in the SCPC is have you heard of bitcoin? In 2019, an impressive 70.7% of survey participants responded that they were familiar with bitcoin, up from 68.7% in 2018. When the survey first began to collect bitcoin information in 2014, just 45.1% had heard of it. The biggest jump occurred between the 2017 and 2018 SCPC, no doubt due to the epic December 2017 bitcoin price spike. No other cryptocurrency has the name recognition of bitcoin. In 2019 just 8.3% of survey participants had heard of ethereum, 7.5% of litecoin and 2.6% of XRP. See also: Is Bitcoin in 2020 Really Like the Early Internet? Only bitcoin cash (BCH) comes close to bitcoins brand recognition. An outsized 40.3% of survey participants report having heard of BCH. Given that actual on-chain usage of BCH is quite low, its probably safe to assume many survey participants are mistakenly assuming bitcoin and BCH were the same thing. If bitcoin is recognized by most Americans, how well is it understood? The SCPC teases this out by asking those who have heard about bitcoin to rank their familiarity with it on a scale of 1 to 5, with 1 being not at all and 5 being extremely. In 2019, 87.4% of respondents choose not at all or slightly. Only 4.5% or respondents said they were moderately or extremely familiar with bitcoin. This degree of familiarity has stayed constant since 2014, suggesting the quality of public understanding of bitcoin is low and is not improving. So what about adoption? Bitcoin is a bit like base jumping . Most people know of base jumping, but most people dont have the guts to do it. Likewise, even though a huge proportion of Americans now know about bitcoin, most dont own any. Of the 3,363 survey participants queried about bitcoin in the 2019 SCPC, just 35 respondents or 1.0% reported owning bitcoin. This is down from 1.2% in 2018. Even though 2019 wasnt a great year for adoption, bitcoin ownership rates have generally been increasing over the last few years. When the survey began to record cryptocurrency data in 2014, just 0.4% of survey participants owned bitcoin. It has since more than doubled. Bitcoin ownership dominates other cryptocurrencies. Whereas a total of 35 respondents reported holding bitcoin in 2019, just 20 people owned ethereum, 16 people held litecoin, 10 owned bitcoin cash, and 10 held XRP. So what do American bitcoiners use their bitcoins for? Not payments. In 2019, just two out of 3,363 Americans surveyed in the SCPC (effectively 0%) had used bitcoin to make payments in the previous 12 months. This is down from eight people using it for payments in 2018, but about the same amount registered in previous surveys between 2014 to 2017. So, even though bitcoins name recognition is rising and more people are holding it than in 2014, its usage as money continues to stagnate. See also: J.P. Koning Lessons From the First Digital Gold Boom This is especially salient when compared to competing payments systems. In 2019, 8.5% of survey participants (a total of 283 people) had used Zelle to make a purchase or pay another person in the last 12 months. Zelle is a bank-owned instant person-to-person payments network that was introduced in 2016. Venmo, another popular person-to-person payments network, was used by 11.3% of participants. Both Venmo and Bitcoin first appeared in 2009. So if not for payments, why do people hold the stuff? The SCPC attempts to ferret out the answer by querying people about their motivations for holding cryptocurrencies. The most popular reason is investment, with 56% of respondents listing this as their primary reason in 2019. The second most popular is interested in new technology at 23%, suggesting a hobbyist mentality. These proportions were about the same as 2018. Almost no survey participant holds cryptocurrencies in order to buy goods and services in the U.S. or to make anonymous payments. Nor do they choose do not trust banks or do not trust the government as reasons for holding bitcoins or ether. Finally, the typical American does not hold a large amount of bitcoin. In 2019, the median holding was $200 worth of bitcoin, up from $70 in 2018. This lift is probably due to the timing of the SCPC, which is run in September. In September 2018 the bitcoin price was around $8000 whereas in September 2019 it reached as high as $14,000. See also: Bitcoin Needs Real Use Cases to Become Digital Gold, Says ICE Chief All of this data allows us to paint a picture. Bitcoin has succeeded in grabbing an impressively large chunk of American mindshare. However, common knowledge of bitcoin tends to be of poor quality. Nor does it translate into broad adoption. Although the proportion of bitcoin owners is higher than 2014, it still only registers at around 1% of the entire population. Bitcoin holdings tend to be quite small. Nor are these adopters using bitcoin for its original purpose: electronic cash. Rather, they are investing and gambling with it, or tinkering with it. Related Stories Bitcoin Has American Mindshare but Few Users Bitcoin Has American Mindshare but Few Users || Elon Musk, Bill Gates, Apple, Other Major Twitter Accounts Hacked By Bitcoin Scammers: Strange tweets sent Wednesday from Tesla Inc (NASDAQ: TSLA ) CEO Elon Musk's official Twitter (NYSE: TWTR ) account and those of Apple Inc. (NASDAQ: AAPL ), Uber Technologies Inc (NYSE: UBER ) and Microsoft Corporation (NASDAQ: MSFT ) co-founder Bill Gates appear to be the result of a hack promoting a bitcoin scam. Musk, Obama, Biden Targeted: The tweets from Musk's account said he would double any bitcoin payments sent to a published Bitcoin address. They have since been deleted. "You know I living giving back to my community," one tweet from Musk said. "I'm doubling all BTC payments sent to my address. You send $1,000 and I will send $2,000 back!" After sharing the bitcoin address, the tweet said: "Tell your family & friends! Only going on for 30 minutes." The bitcoin address used in Musk's tweet has been used for 272 transactions at last check, according to Blockchain.com . The hacks began at about 3 p.m. Wednesday, according to CNBC , and were ongoing at the time of publication, with rapper Kanye West, Democratic presidential candidate Joe Biden and former President Barack Obama among the latest targets. "We are aware of a security incident impacting accounts on Twitter. We are investigating and taking steps to fix it. We will update everyone shortly," Twitter's support account tweeted at 5:45 p.m. Twitter shares were down 4.23% at $34.16 in Wednesday's after-hours session. Musk Targeted By Twitter Impersonators Before: Twitter often has problems with Musk impersonators responding to the CEO's tweets claiming bitcoin giveaways and other scams. But this apparent scam comes directly from Musk's verified account. Musk has posted tweets about the cryptocurrency Dogecoin in the past. Benzinga's Take: Musk has complained about Twitter's ability to control bots in the past. Now it appears hackers have gained access to Musk's account and are flooding Twitter with scam tweets. Story continues You should never send money to anyone in this manner over the internet, even when it comes from a verified account, as it is almost always a scam. Dustin Blitchok contributed to this report. Screenshot from Twitter. See more from Benzinga Tesla To Shut Down Fremont Factory For Scheduled Upgrades Elon Musk Posts Impressive Photo Render Of Gigafactory Berlin Tesla Gets .1B Tax Break Approval From Travis County, Texas © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Friday's Market Minute: Is Silver Starting To Slip?: Gold futures have seen some of the biggest trading action across the commodities space lately. The yellow metal finally snapped a 9-day streak of gains yesterday, but it’s still up a hefty 10% during the same time period. Silver looks to be taking a breather – in relative terms at least, as it’s only up about 6% this week. But technical indicators suggest the metal’s advance could be slowing, and this could be significant as the two metals typically show strong correlation.
Tuesday’s new highs in Silver retreated into a Spinning Top candle pattern, which typically suggests indecision among traders and can be the precursor to a reversal. Furthermore, the RSI showed bearish divergence on Tuesday, as price reached new highs while this momentum indicator did not. RSI now sits on the brink of the overbought level, and a move below the 70 level would be another bearish signal. Volume Profile shows an area of heavy trading near 23, so watch for support there, as well as around the 21-day EMA near 21.45. For gold, 1900 is the price level to watch for now.
See more from Benzinga
• Thursday's Market Minute: What Happened To Kodak?
• Wednesday's Market Minute: Gold Bugs & MMT Junkies Both Need A Reality Check
• Tuesday's Market Minute: Bitcoin Clears ,000 In Sudden Bullish Spike
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The Guaranteed Easiest Way to $10 Million in the Stock Market...: There is one guaranteed way to end up with $10 million in the stock market.
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Bringing Headlines to Life
In most cases, clickbait only benefits the person writing the bait. If you know how to use the news, however, clickbait can actually make you money. Instead of having to manually filter through the noise to get what you came for, Dough lets you follow your favorite companies just like your friends’ Instagram pages.
The proprietary 3Cap™ squawk feature gives you the most important summaries of headlines. The Dough Selects™ gives you suggestions about how to turn your hobbies into money. Whether you love Monday morning quarterbacking, watching politics on a loop in the afternoons, experimenting with cutting edge cannabis products or following the gaming industry, there is no knowledge that is not power. That knowledge is your edge. You just need the proper tool to connect it to the markets. You can also follow the Social Currency™ podcast for cutting edge information on the market from morning coffee to evening bubble bath.
Protection for Your Investment Account
In a world of global financial access, there are many unregulated broker-dealers that take unscrupulous risks with your money. You may be familiar with the Federal Deposit Insurance Corporation (FDIC) and assume that your investment accounts are not safe because they cannot be covered here. Actually, your funds are as well protected as they would be in a bank.
Dough is registered with the Securities and Exchange Commission (SEC) and a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). Instead of the FDIC’s $250,000 protection, you actually get $500,000. Rest assured that your deposits from any source will be fully protected. Speaking of deposits, Dough is fully compatible with transfers from over 11,500 banks. Once you make the decision to start making money with us, you can have your account up and running in less than five minutes.
Your account information is also protected against hackers with 256-bit encryption.
If you have any questions before or during the process of setting up your Dough account, the Dough customer service team is available from 7:30 AM to 5:00 PM Central Standard Time from Monday to Friday. This is an app that has you covered from market open to market close — aftermarket and premarket hours included.
Make Dough with Dough
Whether you are a new trader or an established investor,Doughhas a full infrastructure for trading and analysis in house. Even if you have nothing, you can start with one free stock. Modern investing relies on instant access to information and the ability to execute lightning-fast moves on that information. As more people around the world gain access to global markets through a continuously democratized process, you must stay ahead of the curve to retain your investment edge.
If you are bringing together resources from multiple platforms, you risk a lack of integration. Even the slightest bit of lag between sources and execution points can affect your investment results. The true strength of Dough is bringing everything together under one umbrella so that you don’t have to worry about your squawk being late or your news feed shutting down.
Sign up for the Doughapp is easy as well. All you have to do is make your way to the website to get set up in minutes. There is a download for iOS and Android. With no minimums, you can get started no matter where you are in your investment career or your personal life. Explore your financial curiosity and get involved in the exciting world of finance. Now is the time to get started. As they say, millionaires are made in recessions, and it certainly looks like we are going to be in one for the next few years!
See more from Benzinga
• Smart Investors are Buying Tesla, Hedging with Bitcoin and Doing This
• Score 11.24% Returns in a 0 GDP World. Here's How.
• Farming is Cool Again - Invest While You Can
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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 || MIT’s Narula: Bitcoin jumpstarted the current conversation on central bank digital currency: The idea of wholly digital currencies isn't a new one, but it was bitcoin that added extra fuel to that long-running conversation, according to Neha Narula, director of MIT Digital Currency Initiative.
Her comments were included in The Block's newwide-ranging reporton central bank digital currencies, which covers a range of R&D initiatives from around the world. In the report, Narula was asked about the "real opportunity" of CBDC, and at the outset, she pointed to bitcoin as a catalyst for the discussions happening today.
Narula was quoted as saying:
"We have the unique opportunity to design something that is like cash, for a digital context. Bitcoin kicked all of this off, which inspired the Bank of England to do some interesting writing on this. The idea of digital currency and e-money has been floating around for a while, but Bitcoin accelerated that conversation."
"Now we have an opportunity to decide what [digital cash] could look like — but there are a lot of different stakeholders with different views and wants. We don't yet know how this will turn out," she continued.
Narula also highlighted the work being done across the crypto landscape in this context.
"The crypto world is a laboratory to experiment with these ideas, but it's still small. The real win is bringing this technology into the real world and seeing what the interfaces look like," she noted.
Read The Block's new report,A Global Look at Central Bank Digital Currencies, by clickinghere.
© 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. || Marathon Patent Group Regains Compliance with NASDAQ Listing Requirements: LAS VEGAS, Aug. 21, 2020 (GLOBE NEWSWIRE) -- Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon" or "Company"), one of the few NASDAQ listed cryptocurrency mining companies in the United States, today announced that it received formal notification from The NASDAQ Stock Market LLC ("NASDAQ") that the Company has regained compliance with Listing Rule 5550(a)(2), which requires the Company's common stock to maintain a minimum bid price of $1.00 per share. The NASDAQ staff made this determination of compliance after the closing bid price of the Company's common stock was at $1.00 per share or greater for the last 20 consecutive business days.
NASDAQ had previously notified the Company of its non-compliance with Listing Rule 5550(a)(2) on April 6, 2020, following 30 consecutive business days for which the closing bid price of the Company's common stock did not meet the $1.00 per share minimum requirement.
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, 2017. 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.
Future changes in network-wide mining difficulty rate or Bitcoin hashrate may also materially affect the future performance of Marathon's production of Bitcoin.
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.
CONTACT INFORMATION
Name: Jason AssadPhone: 678-570-6791Email:[email protected] || OWNR Wallet introduces a highly intuitive interface to manage EOS: Estonia, June 27, 2020 (GLOBE NEWSWIRE) -- OWNR Wallet has joined the ranks of the few multi-currency wallets that support EOS.EOS differs substantially from the majority of coins. Its blockchain has no mempool, so transactions are confirmed instantly. What also makes EOS so popular is its scalability and absence of network fees. Due to the latest, EOS blockchain is vastly used for dApps, games with crypto collectibles etc.EOS blockchain specifications define the architecture of the apps that support it and its limitations. Most EOS solutions allow users to either create a new EOS account or restore an existing one and manage it. It may appear that the accounts created can be used within a specific network only.OWNR is one of the precious few HD wallets that support EOS. In OWNR Wallet, it is possible to both import and create an EOS account as well as to manage EOS transactions. Accounts registered with OWNR can be used elsewhere without limitations. This makes OWNR a perfect solution for users who want to store and manage EOS in one place.It is also worth noting that OWNR Wallet provides a user-friendly interface where one can effortlessly create an EOS account in several clicks. This would be of great use to those confused by the normal multi-step algorithm of registering EOS accounts which is now employed in the majority of wallets.Although there is no network fee, the number of transactions per day is limited by user’s staked resources. The option to manage these resources (CPU, Network and RAM) will be added in OWNR within a couple of weeks, putting the user fully in control of their EOS funds. / OWNR Wallet has an option of replenishing the resources (CPU, Network and RAM) and thus being in full control of your EOS.“We strive to add full support for EOS so that users don’t have to switch between the apps as it usually happens with this coin,” commented Grygory Sytenko, OWNR Wallet CEO. “What’s more important, we’ve managed to make the account registration so simple that it takes several minutes even for a newbie”.About OWNR WalletOWNR is a multifunctional non-custodial HD wallet launched in April 2019 by an Estonia-based company. It is designed for those who want to keep all cryptocurrency operations in a single app, be it storing, sending, receiving, exchanging or purchasing crypto. Currently 11 basic coins and all the 250K+ ERC20 tokens are supported.OWNR Wallet is truly cross-platform: the app is now available for iOS, Android, Windows, Mac OSX, Linux.The company is PCI DSS compliant and holds two licenses to provide cryptocurrency purchase. Users can buy basic coins (BTC, BCH, LTC, ETH, DASH) with a bank card (Visa, MC), UnionPay, SEPA. In June 2020, OWNR Wallet obtained anMSB license to sell cryptocurrency in the USAand is now applying for the state licenses.Some of the special features include:
• Autodiscovery of all assets supported and ERC20 tokens so that they are instantly available after the wallet import
• No limitations as to the length of the seed phrase
• Generating up to 20 addresses at once for BTC and BTC-like coins
• Widget to watch price updates for the coins of your choice
• Round-the-clock support available in the app
• SegWit for BTC and LTC
• Customizable fees
• Testnets for most of the coins supported
OWNR WALLET OŰ[email protected]://ownrwallet.com || ‘Rat Poison Squared on Steroids’: What’s New in Bitcoin’s Latest Lightning Release: All eyes are on bitcoin ‘s bullish price at the moment. Behind the scenes, however, developers are tinkering to build the infrastructure that many hope could make the Bitcoin system more accessible to more people. Last week, Bitcoin tech startup Blockstream released its latest major version of c-lightning, its implementation of the Lightning Network. The release is dubbed “Rat Poison Squared on Steroids,” facetiously referencing Warren Buffet’s comment that Bitcoin is “rat poison squared” and, in his opinion, investors will get burned if they put their money into it. Of course, c-lightning’s developers probably don’t believe Bitcoin is “rat poison,” seeing as they’re working full time to scale bitcoin payments. The Lightning Network is pitched as the future of Bitcoin because it ushers in faster and cheaper payments and scales the network so it can support many, many more users than it currently can support without slowing it down. Related: Charlie Lee, Adam Back Lead $3.1M Private Token Raise for Blockchain Game Infinite Fleet Read more: What Is Bitcoin’s Lightning Network? With this release, Bitcoin’s Lightning Network gradually continues to make headway. Here’s a dive into the major pieces of the latest release. MPP-sending for more reliable payments Multi-part payments (MPP) are one feature that will improve the Lightning Network’s user experience (UX). Sometimes payments fail when the software can’t find a path to the user. This is especially likely to occur when payments are bigger; large payments require an adequate amount of liquidity in all the channels between the sender’s node and the receiver’s. If there isn’t enough liquidity to support passing the payment along, the payment will fail. MPP effectively splits payments into smaller pieces so they’re easier to send across the network, making payments more reliable. Story continues Related: To Beat Online Censorship, We Need Anonymous Payments Read more: ‘Multi-Part’ Payments Could Bring Bigger Bitcoin Sums to Lightning Network “The most obvious feature is that we now can pay with multi-part payments,” Blockstream Lightning engineer Rusty Russell told CoinDesk. C-lightning has been able to receive MPP payments since last year , “but Christian [Decker, Blockstream engineer] finally got around to implementing the sending side,” Russell said. This is a piece of a much broader effort to update Lightning’s UX to hopefully attract more users. MPP was discussed by developers back at a Lightning developer summit back in 2018 in Adelaide, Australia. Watchtowers fight fraud Watchtowers is a fraud-fighting component of the Lightning Network that is early on in its creation. A watchtower “watches” a user’s bitcoin in the Lightning Network to make sure it’s safe. If someone tries to cheat, the watchtower detects the infraction and responds by penalizing the offending user. Read more: Bitcoin Lightning Fraud? Laolu Is Building a ‘Watchtower’ to Fight It C-lightning has made changes to make it easier for watchtowers to hitch up to c-lightning. Blockstream engineer Christian Decker “added enough information that a plugin can easily support a watchtower,” Russell told CoinDesk. “We tell it exactly what transaction it would need to publish if the previous (cheating) transaction were to appear.” Like plug-ins in other software, such as the Google Chrome browser or a music-making program, a plug-in in c-lightning adds extra functionality to the c-lightning node. Russell noted the Lightning watchtower Eye of Satoshi is already using this new feature. Coin tracking for taxes C-lightning has laid the groundwork for a tool to track “all” of a user’s coin movements, Russell told CoinDesk. This could come in handy for anyone worried about tracking their Lightning coins come tax season, so they can figure out what they owe the IRS. Read more: Crypto Taxes: Still Confused After All These Years This underlying tracking work has been added to this release. The next step is to make this functionality available for users. Neigut is “putting the final touches” on a plug-in that “records everything your accountant will want to know about where your money came from and went,” Russell said. “Seems she is actually looking forward to next tax year so she can use this in anger :),” he added. Other changes While these are a few of the most significant changes, there are plenty more. C-lightning now supports sending keysend transactions , which offers a new way to tip others with Lightning payments. And Russell mentioned that the developer team has been “re-engineering everything” to support a new bitcoin transaction format called PSBT (partially signed bitcoin transactions), which facilitates transactions with hardware wallets, a secure method of storing bitcoin since the device remains disconnected from the internet. Peruse the release notes for more details. Related Stories ‘Rat Poison Squared on Steroids’: What’s New in Bitcoin’s Latest Lightning Release ‘Rat Poison Squared on Steroids’: What’s New in Bitcoin’s Latest Lightning Release
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 11774.60, 11366.13, 11488.36, 11323.40, 11542.50, 11506.87, 11711.51, 11680.82, 11970.48, 11414.03
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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 2015-09-30]
BTC Price: 236.06, BTC RSI: 51.93
Gold Price: 1115.50, Gold RSI: 45.60
Oil Price: 45.09, Oil RSI: 49.62
[Random Sample of News (last 60 days)]
Colorado Prepares For Green Wednesday: On Wednesday, September 16, Colorado's marijuana enthusiasts will enjoy a one-daytax holidayin which the state's 10 percent tax on cannabis products will be repealed.
The prospect of buying tax-free pot has the state's drug users gearing up for a shopping spree and has prompted dispensaries to offer deep discounts reminiscent of traditional retailer's Black Friday deals. With the holiday just under a week away, Colorado's pot scene is already preparing.
Tax Glitch
Green Wednesday is the result of a loophole in the Colorado tax law which requires the state to refund some taxes if revenue exceeds estimates. Recreational pot is taxed at 10 percent in Colorado, but on September 16, that tax will be waived and shoppers will pay only the 2.9 percent sales tax that is applied to all goods bought within the state. Shoppers will have to pay any taxes applied by the local jurisdiction in which the retail marijuana is sold.
Colorado also has a 15 percent state excise tax, which is applied to sales or transfers from a retail marijuana cultivaton. A discount on this tax will not be applied to shoppers.
Related Link:Marijuana Posts A Major Win On The Campaign Trail
The holiday will make an ounce of marijuana about $20 cheaper than normal and is expected to cause Colorado's government to lose out on $3 to $4 million worth of revenue.
Huge Turnout Anticipated
Dispensaries and pot-related businesses are expecting a huge turnout on Wednesday as consumers bulk up their supply or marijuana while the drug is cheap. To lure the crowds into their businesses, many are offering additional price cuts to celebrate the tax holiday.
Colorado's oldest and largest dispensary, The Grass Station, will give customers who enter the store before 9:16 a.m. ET a 50 percent discount on their entire purchase and will offer a 10 percent discount for the remainder of the day.
See more from Benzinga
• Wall Street Joins The Bitcoin Movement
• Investors Look To China For Bargain Buys
• Phone Carriers Hoping To Profit From New iPhone
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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) || Bitcoin Rewards Gain Popularity: While the general public may be hesitant to convert their existing money into bitcoins, some are betting that being rewarded with the cryptocurrency will prove more appealing. Bitcoin rewards are being used by some firms to get customer feedback or provide incentives for loyal use. The idea has been a step forward for the bitcoin community, as it gets digital currencies into the hands of more people who otherwise may not use it.
Microsoft
Microsoft Corporation(NASDAQ:MSFT)'s Bing search engine has launched a platform called Bing Rewards in which users can earn credits that are redeemable for things like gift cards and other products. The site is aimed at boosting the search engine's user base. In an effort to rope in the growing bitcoin community, Bing Rewards haslaunched a sweepstakesthat will enter participants in a drawing for $500 worth of bitcoin. The company's partnership with Tango Card is responsible for the offering, as Tango Card recently made a deal to incorporate bitcoin processing service SnapCard.
Related Link:Venture Capitalists Pouring Money Into Bitcoin
Qualtrics
Survey moderator Qualtrics is also using bitcoin as an incentive to get people to answer questions and participate in research. Again, Tango Card and SnapCard are behind the bitcoin offerings, which are given to survey participants. Qualtrics users are able to earn points by completing surveys and those points are redeemable for gift cards at retailers likeAmazon.com, Inc.(NASDAQ:AMZN) or they can be transferred into bitcoins.
See more from Benzinga
• Firms' Perks Competing To Attract Top Talent
• Google Pushes Back In EU Privacy Case
• Will Video Game Makers Profit In China?
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Mission Accomplished -- CWC's Chris Dehring Departs: MIAMI, FL--(Marketwired - Sep 25, 2015) -Cable & Wireless Communications, Plc (CWC) announced today that Chris Dehring, Chairman of LIME Jamaica and a member of the senior executive team, has decided to return to the forays of entrepreneurship after six transformative years with the Company, effective September 30, 2015.
"On behalf of the Board of Directors and the management and staff of C&W, I want to thank Chris for his outstanding contributions to our business during his time with the Company," said Phil Bentley, C&W's CEO. "Chris has been a key leader in our business, spearheading the largest market in the Caribbean for over six years as Chairman, and building a solid foundation to drive growth and profitability in one of our most important markets. His outstanding reputation throughout the Caribbean and strategic acumen proved invaluable to the success of the merger with Columbus and we thank him for his leadership, and wish him well in his future endeavours," said Bentley.
"On a personal note, I'd like to thank Chris for working so closely and effectively with me on gaining the support across the Caribbean for the acquisition of Columbus -- this has been a game changer for C&W!" added Bentley.
Chris, who has an outstanding track record in business across the region, orchestrated new emergency legislation and the historic regulatory rulings that redressed the anomalies in the Jamaican telecommunications market, paving the way for the company to grow its mobile subscriber base from just over 200k to 900k currently. He was instrumental in reviving the LIME brand (now Flow), and business with innovative marketing and innovations such as LIME Skool Aid which continues today. Considered a maverick among his peers, Chris played a key role in the regulatory approval negotiations across the region to facilitate the successful merger with Columbus International Inc.
Commenting on his tenure, the affable Chairman and Senior Vice President for Government and Regulatory Affairs, said, "It was an honour to serve with so many outstanding colleagues at Cable & Wireless Communications and to be able to close this remarkable era of my career by playing such an integral role in finalising what undoubtedly is a transformational merger with Columbus. Similar to the regulatory obstacles we overcame in Jamaica, there were massive regulatory hurdles with the merger, but I'm delighted to have had the opportunity to leverage my expertise and be a part of a US$3 billion dollar transaction spanning 42 countries. Coupled with the turnaround and upward trajectory of C&W in Jamaica and the Caribbean, I feel like my mission has been accomplished and it is time to move on to my next adventure!"
Prior to joining C&W, Chris earned a solid reputation in Jamaica and across the Caribbean as a marketing specialist and entrepreneur. He was one of the founders of Jamaica's first investment bank and the Caribbean's first sports television cable channel, and as Managing Director & CEO, led the region in staging its first global sporting event -- the ICC Cricket World Cup in 2007.
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
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=2894129 || 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.
See more from Benzinga
• Despite Record Profits, Turbulence Ahead For The Airline Industry
• One Man's Journey Around The World Using Only Bitcoin
• What The Fed Minutes Could Say About A September Rate Hike
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Greece could soon get 1,000 bitcoin ATMs: Bitcoin (: BTC=) ATMs could spring up across Greece as soon as October as citizens and businesses become increasingly desperate to move their money despite capital controls. BTCGreece, which bills itself as the country's first bitcoin exchange, plans to eventually install 1,000 ATMs nationwide, in partnership with European bitcoin platform, Cubits. Thanos Marinos, the founder of BTCGreece, told CNBC on Wednesday that a soft launch was on the cards for October. "It is part of my vision to create a block chain ecosystem in Greece," he told CNBC. "If all goes as expected with no major issues we will launch first ATMs October 2015." Bitcoin is a decentralized digital currency that can be used around the world . Transactions are listed in a shared public ledger called the block chain. The digital currency has been touted as one way to to circumvent Greek capital controls. These have been in place since June and limit domestic investors to withdrawing no more than 60 euros ($66) per day from Greek banks, making life extremely tough for companies that need to pay or receive bills. Greek individuals and businesses are also forbidden from moving money to bank accounts abroad. The ATMs envisaged by Marinos could allow users to convert fiat currency into bitcoin and potentially vice versa. As yet, BTCGreece has no ATMs in Greece. However, Marinos said he had already received requests from 300 shops for bitcoin ATMs. "We want to do it cautiously," he told CNBC, adding that BTCGreece would announce more partnerships next week. Bitcoin rallied in June amid reports that Greeks were flocking to the currency in order to circumvent the controls. However, the currency's decentralized nature makes it challenging to say how many Greeks currently use it. Bitcoin ATMs have already been installed in other countries, predominately in the U.S. and Western European countries like the U.K., the Netherlands and Spain. "There has been a focus on bitcoin and Greece and the economic instability there," Akif Khan, chief commercial officer at digital commerce company, Bitnet, told CNBC on Wednesday. Story continues "So in one sense it will be an interesting experiment to see if Greeks do gravitate towards bitcoin as one of the tools in their financial toolkit to try and cope." Read More Track Bitcoin versus the euro (Unknown: BTCEUR=) Belfast-based Khan added that Greece's regulatory environment was conducive to introducing ATMs. "In principle, putting bitcoin ATMs into Greece is just as feasible as in any other European country... Greece does not have a prohibitive regulatory environment in this regard," he told CNBC. -By CNBC's Katy Barnato . Follow her @KatyBarnato . More From CNBC Top News and Analysis Latest News Video Personal Finance || ACKMAN: The US government is perpetrating 'the most illegal act of scale' with Fannie and Freddie: (Screenshot)Bill Ackman, founder of Pershing Square Capital.
Hedge fund titan Bill Ackman, founder of $19 billion Pershing Square Capital Management, slammed the US government Tuesday night for keeping all the profits from mortgage guarantors Fannie Mae and Freddie Mac.
Ackman called it "the most illegalact of scale" he has ever seen the US government do.
Ackman spoke Tuesday evening during a panel at Columbia University for the launch of Bethany McLean's new book"Shaky Ground." McLean and former Fannie Mae CEO Frank Raines were also panelists. Ackman, however, did most of the talking.
During the financial crisis, Fannie and Freddie needed massive bailouts and were taken over by the government.It has been seven years since the financial crisis and the companies are still in a state of conservatorship.Today, thegovernment-sponsored enterprisesmake billions in profits, all of which goes directly to the Treasury.
Ackman, the largestshareholder of Fannie and Freddie, and other investors aresuing the US governmentfor takingproperty for public use without just compensation.
He said: "And there is no way they will not be allowed to stand, from a legal point of view. And the reason for that is if the US government can step in and take 100% of profits of a corporation forever, then we are in a Stalinist state and no private property is safe — and take your money out of every financial institution, put it into gold or Bitcoin and just get the hell out because we're done, maybe the clothes on your back, but other than that nothing is safe."
(Thomson Reuters)
In Ackman's view, Fannie and Freddie are vital to the US economy. Right now, he said, the biggest threat to the US middle class is rising rental rates.
"If you don't own a home, and you're a member of the middle class, you have a problem," he said. "This is the biggest threat to the middle-class livelihood is that your cost of living, the roof over your head is not fixed, it's floating."
Ackman said Fannie and Freddie were set up to make middle-class housing more accessible. Together, they have enabledwidespread availability and affordability with the 30-year, fixed-rate, prepayable mortgage — a system that has been in place for 45 years.
Ackman said he's optimistic about the future of Fannie and Freddie. He has said before that withthe right reformsthey could be worth a lot more. He has given the GSEs a price targetranging between $23 and $47, which is well above the current $2 range.
Watch the full panel below:
More From Business Insider
• Bill Ackman is eyeing another huge and potentially controversial deal
• Some of Wall Street's biggest hedge fund names are racing to rescue their year
• BILL ACKMAN: Stocks are pretty cheap right now || All Investors Are Long Volatility, But There’s Help: This article is part of a regular series of thought leadership pieces from some of the more influential ETF strategists in the money management industry. Today's article is by Mike Venuto, co-founder and chief investment officer of New York-based Toroso Investments. Over the past few years, there has been a lot of discussion about volatility as an asset class. The recent turmoil in the market has reignited this debate. In my opinion, volatility is not an asset class; rather, it’s a market factor that all investors are inherently long. Factors are idiosyncratic risk that traditional index investors inadvertently accept. Assets are tangible; they can grow and compound value. Volatility is a behavioral result or return characteristic, and usually a bad one. Unless an investor explicitly limits volatility, they are long this factor. The advent of VIX exchanged-traded products (ETPs) was intended to provide investors the ability to mitigate the exposure to this factor. The unintended consequence of these innovations was to create an opportunity for astute investors to profit from others’ desire to purchase volatility insurance. What Volatility Really Is Before delving into the intricacies of these ETPs, let’s clearly define the volatility factor. Realized volatility is simply a measure of standard deviation or investment performance outside of historical norms. Since the market trends upward, most spikes in volatility usually correspond with negative economic events. Additionally, realized volatility erodes the positive effects of compounding returns. This is best illustrated by Jeremy Siegel’s volatility paradox, which notes that returns are not geometrically offsetting. A loss of 10 percent in value requires a gain of 11 percent to go back to the original value. Volatility exponentially amplifies the breakeven requirements; a loss of 25 percent needs a 33 percent positive return to reset. Clearly mitigating this factor can have a positive effect on portfolio performance. Story continues Historically, investors have attempted to limit volatility through diversification and asset allocation. Over long market cycles, this has worked, but in times of extreme stress—like 2008, or most recently, during August of this year—correlation of investments increases and the negative impact of volatility trumps the benefits of diversification. The Need For Short-Term Tools Investors with shorter time horizons need tools that implicitly mitigate the volatility factor; hence, the advent of volatility ETPs. Most volatility ETPs seek exposure to the VIX index. The VIX index is a measure of implied volatility, which calculates the anticipated future standard deviation of the SandP 500 based on options prices. The VIX index is unique in that it does not compound, and always mean-reverts. Unlike an asset, it cannot go to zero, and it cannot go to infinity. Historically, the realized standard deviation of the SandP 500 has been about 16 percent. Over the past 20 years, the average value of the VIX has been about 18, indicating an anticipated volatility or implied volatility of 18 percent. It is common that implied volatility is higher than realized, and this spread is translated into the cost of purchasing insurance on realized volatility. Most ETPs that offer exposure to the VIX do so using futures. Essentially the underlying indexes combine long and/or short allocations of at least two VIX futures contracts. You’re Not Buying Spot VIX The process is complicated, but the most important thing for investors to understand is that investing in VIX futures will not result in returns that correspond identically to the VIX spot price. This phenomenon is best illustrated by the first VIX futures-based ETN. The iPath SandP 500 VIX ST Futures ETN (VXX | B-62) launched in January 2009, at a time when spot VIX was relatively high, around 44. Today spot VIX is about 45 percent lower, but VXX is 99 percent lower. It is safe to say that VXX is not a buy-and-hold investment. This is due in large part to the cost of maintaining the exposure or insurance. Since the launch of VXX in 2009, I have been fascinated by volatility ETPs. A key component of my investment philosophy is the acknowledgment that problems and inefficiencies create opportunities. This is an aspect shared by well-known investment managers in the ETP industry. When Inverse Is Not Shorting Greg King, currently CEO of the newly created REX ETFs, was both one of the architects of VXX and the creator of the vehicle, which captured the opportunity created by its inefficiency. In late 2010, King, via VelocityShares, launched the VelocityShares Daily Inverse VIX ST ETN (XIV) , which represents the inverse of the VIX Futures index tracked by VXX. It is extremely important for investors to understand that XIV is not short the VIX; it is short the cost of using futures to gain exposure to the VIX. In other words, XIV collects and compounds the cost or premium others are willing to pay for insurance. That said, when volatility spikes, the cost structure or futures curve inverts, and XIV loses significant value quickly and violently. The metaphor of picking up pennies in front of a steamroller accurately describes investing in XIV, but instead of pennies, investors collect dollars. I believe harvesting those dollars and consistently rebalancing exposure to XIV is one way to avoid being crushed. A less popular way to express this trade or metaphor is to pick up quarters in front of a go-kart with the VelocityShares Daily Inverse VIX MT ETN (ZIV) . ZIV investors can still get hurt, but not likely crushed, and the insurance premium collected is much smaller. ZIV tracks the inverse of the midterm VIX futures index. It collects the cost of maintaining exposure to VIX futures by using the three- to seven-months’ futures. This part of the curve is less expensive and less reactive to moves in the VIX. Since inception in 2010, ZIV is up about 180 percent. The Volatility ETP Universe Today there are close to $5 billion allocated to ETPs that invest in VIX futures. There are about equal amounts dedicated to products that are long VIX futures as there are to the inverse products. There is also about $1 billion in a new suite of products that dynamically move from equity exposures to long or short VIX futures. ETPs Assets $M # of ETFs # of ETNs Long VIX Futures $1,176,613.90 3 4 Leveraged Long VIX Futures $730,168.10 1 2 Short VIX Futures $1,992,688.50 1 4 Equities + L/S VIX Futures $1,057,104.10 4 3 Total: $4,956,574.60 9 13 Source: ETF.com as of Sept. 11, 2015 It should be self-evident that current VIX futures-based ETPs are insufficient tools to mitigate the realized volatility factor in a portfolio unless an investor has impeccable and consistent timing. That said, innovative new products are launched every year. Perhaps one of the most interesting launches in this space was this year’s AccuShares Spot CBOE VIX Up Shares (VXUP) and AccuShares Spot CBOE VIX Down Shares (VXDN) . These ETFs seek exposure to spot VIX, which is the holy grail of volatility-factor reduction. Unfortunately, this is not easily achieved, and the structure of these ETFs appears quite convoluted at first glance. They own cash instead of futures. Their value is maintained through distributions. There are equal amounts of VXUP and VXDN shares: Once a month, a distribution is made from one to the other that corresponds to the relative percent change in the VIX. This distribution is intended to keep the ETFs trading close to their stated net asset value (NAV ). Circuit Breakers Built In Theoretically, the insurance premium inherent in VIX futures implies that there should always be more demand for VXUP than VXDN; therefore, VXUP should normally trade at a premium. AccuShares was acutely aware of this possibility, and built circuit breakers—or triggers—into the structure that force a series of special distributions if either fund trades at significant premium or discount to NAV for more than three consecutive days. Around Aug. 17, this structure was tested when the VIX spiked more than 200 percent. To my surprise, VXUP was trading at about a 35 percent discount to NAV at this time of extreme fear. On Aug. 24, the special distribution process successfully brought the trading price back in line with NAV. Only time will tell if investors embrace this concept now that these ETFs have passed the first test. So, if you are investing in the stock market, you are idiosyncratically long volatility. There are many new and innovative ETPs to help mitigate that factor, but the intricacies and execution of these products requires vast knowledge of their structure and pricing. When investing, I prefer to embrace the volatility factor, if properly compensated and hedged. After all, Warren Buffett didn’t become rich by buying insurance; instead, his success came from prudently selling insurance. It might be time for ordinary investors to benefit from selling insurance as well. At the time of this writing, Toroso had positions in XIV, ZIV and VXUP. Toroso is affiliated with Global X Management Company. Toroso is a New York-based investment advisor focused on researching ETFs and other exchange-traded products, and designing asset allocation strategies, using ETFs that seek to perform well in various economic climates while emphasizing future objectives over past correlations. For more information about Toroso, call 646-465-5930, visit www.torosoinv.com or email [email protected] . For a list of relevant disclosures, please click here . 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 2015 ETF.com. All rights reserved || Flow to Establish State-of-the-Art Customer Call Centre of Excellence Bringing More Than 300 New Jobs to Jamaica: KINGSTON, JAMAICA--(Marketwired - Aug 31, 2015) - Flow, the new Cable & Wireless Communications Plc (CWC) consumer retail brand, today announced plans to establish a new, state-of-the-art Customer Call Centre of Excellence in Kingston, Jamaica and create more than 300 full-time jobs over the next two years. The innovative Customer Call Centre of Excellence is part of the Company's bid to become the leader in service excellence and revolutionise customer experience across the Caribbean. The Customer Call Centre of Excellence, to be established in the coming months, follows the recent merger with Columbus International Inc and is part of Flow's new compelling plan to provide an enhanced customer experience. This initiative is also consistent with plans laid out by CEO Phil Bentley last year that will see C&W invest US$1.5bn over 3 years to upgrade infrastructure and overhaul service delivery throughout the Caribbean and Latin American region. "Through investments like these, we are putting the customer at the heart of the business," said Bentley. "We are committed to anticipating their needs at every contact point and to delivering a customer care experience that is unparalleled across the region. Together, with our other existing Call Centre in Trinidad, we will revolutionise customer service in the Caribbean, and be the leader in recruiting the best talent in the region. We want Flow to be a business that everyone in the Caribbean is proud of," said Bentley. Branded as an innovative Customer Call Centre of Excellence, the facility is being designed to provide customers with multiple touch points including warm and friendly service agents, Email, Virtual Chat, Mobile App and other technology-enabled support systems . Combined with increased service agent efficiencies, state-of-the-art technology tools will improve call routing and reduce call waiting time, making for an overall superior customer experience. Managing Director, Flow Jamaica, Garry Sinclair is extremely pleased that the new Centre will be located on the island. "It is a testament to the growing confidence of Jamaica as a central hub for investment, the large pool of skilled labour that exists here, and the rapid growth of the ICT sector led by Flow, that we are making this investment here in Kingston." He added, "In addition to the investment in the new Customer Call Centre of Excellence, Flow is also investing in the best mobile and fibre networks across the island to deliver more technologically advanced quad play products, better value, and superior broadband connectivity to exceed our customers' expectations." Sinclair also stated that, "We are excited to recruit the best team on the island for this Centre and we will implement an extensive training programme to deliver an incomparable customer experience." Story continues Responding to the announcement, Hon. Phillip Paulwell, Minister of Science, Technology, Energy and Mining commended Flow's decision to establish the Customer Call Centre of Excellence in Jamaica. "The establishment of Flow's Customer Call Centre of Excellence in Jamaica attests to the tremendous growth potential of the nation's ICT sector and affirms Flow's commitment to development of the local and regional economies. With the commitment to create new jobs, the investment also supports the country's goals to reduce unemployment, builds new skill sets and advances the country's vision to make Jamaica a place of choice to live, work, raise families and do business." Since 2012, the Jamaican Government has had an ongoing drive to engage the private sector in the 'Jamaica Employ' programme, which seeks to increase prospects for job seekers and to bring critical new jobs to the island. "We love doing business in Jamaica and we are happy to partner with the Government in their various initiatives, including the 'Jamaica Employ' programme," Phil Bentley concluded. About Cable & Wireless Communications: Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,000 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 460k and Broadband 665k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information please visit: www.cwc.com || Colorado Prepares For Green Wednesday: On Wednesday, September 16, Colorado's marijuana enthusiasts will enjoy a one-day tax holiday in which the state's 10 percent tax on cannabis products will be repealed. The prospect of buying tax-free pot has the state's drug users gearing up for a shopping spree and has prompted dispensaries to offer deep discounts reminiscent of traditional retailer's Black Friday deals. With the holiday just under a week away, Colorado's pot scene is already preparing. Tax Glitch Green Wednesday is the result of a loophole in the Colorado tax law which requires the state to refund some taxes if revenue exceeds estimates. Recreational pot is taxed at 10 percent in Colorado, but on September 16, that tax will be waived and shoppers will pay only the 2.9 percent sales tax that is applied to all goods bought within the state. Shoppers will have to pay any taxes applied by the local jurisdiction in which the retail marijuana is sold. Colorado also has a 15 percent state excise tax, which is applied to sales or transfers from a retail marijuana cultivaton. A discount on this tax will not be applied to shoppers. Related Link: Marijuana Posts A Major Win On The Campaign Trail The holiday will make an ounce of marijuana about $20 cheaper than normal and is expected to cause Colorado's government to lose out on $3 to $4 million worth of revenue. Huge Turnout Anticipated Dispensaries and pot-related businesses are expecting a huge turnout on Wednesday as consumers bulk up their supply or marijuana while the drug is cheap. To lure the crowds into their businesses, many are offering additional price cuts to celebrate the tax holiday. Colorado's oldest and largest dispensary, The Grass Station, will give customers who enter the store before 9:16 a.m. ET a 50 percent discount on their entire purchase and will offer a 10 percent discount for the remainder of the day. See more from Benzinga Wall Street Joins The Bitcoin Movement Investors Look To China For Bargain Buys Phone Carriers Hoping To Profit From New iPhone © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
In the last 10 mins, there were arb opps spanning 21 exchange pair(s), yielding profits ranging between $0.00 and $99.53 #bitcoin #btc || buysellbitco.in #bitcoin price in INR, Buy : 18137.00 INR Sell : 17559.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || buysellbitco.in #bitcoin price in INR, Buy : 17327.00 INR Sell : 16781.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || Current price: 278.06$ $BTCUSD $btc #bitcoin 2015-08-08 06:00:06 EDT || START WITH €5.00 OFF
#Linux #SSD #VPS #HOSTING #BITCOIN
FREE MIGRATION FOR #Wordpress http://goo.gl/UVS84s pic.twitter.com/McCGrXzjIT || LIVE: Profit = $164.40 (1.61 %). BUY B39.07 @ $261.00 (#BTCe). SELL @ $262.72 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || Current price: 204.57€ $BTCEUR $btc #bitcoin 2015-09-03 03:00:02 CEST || Bitcoin traded at $262.5 USD on BTC-e at 04:00 PM Pacific Time || 1 #BTC (#Bitcoin) quotes:
$228.80/$229.31 #Bitstamp
$227.16/$227.94 #BTCe
⇢$-2.15/$-0.86
$230.56/$230.80 #Coinbase
⇢$1.25/$2.00 || $228.61 #coinbase;
$228.53 #bitfinex;
$226.91 #bitstamp;
$226.00 #btce;
#bitcoin #btc
|
Trend: up || Prices: 237.55, 237.29, 238.73, 238.26, 240.38, 246.06, 242.97, 242.30, 243.93, 244.94
|
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]
Not fully available.
[Random Sample of News (last 60 days)]
MARKETS DAILY: Geopolitical Impacts and Cars Paying Cars in Crypto?: With geopolitical events reverberating and bitcoin continuing its upward trend, CoinDesk’s Markets Daily is back with news and analysis.
No time to listen? scroll down for the complete episode transcript…
• Crypto Markets, Industry and International News Roundup
• Cars paying each other for right of way? WithSony getting into "Mobility“,a very early bitcoin use-casehas re-emerged.
• Anew reportout this week on liquidity in crypto markets: What it means, why it matters and where it’s heading
More ways to Listen or Subscribe:
Related:Hamstringing an Industry With Compliance Costs
Transcript:
Adam B. Levine:
On today’s episode, International and Industry News Roundup, Cars paying each other for right of way and a new report on Crypto Liquidity.
Related:MARKETS DAILY: Are Governments Feeling the FOMO?
It’s Jan. 8, 2020, 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.
NEWS ROUNDUP
Brad Keoun: Bitcoin’s price has hit a seven-week high of $8,463 during Asian hours after Iran launched missile attacks at two U.S. military bases in Iraq. So far, no casualties have been reported.
Trade is off a bit in the past several hours as Iran’s foreign minister said it had concluded its attacks and that it did not seek an escalation of war. But markets were also keeping an eye on the crash of a Ukraine International Airlines flight that took off from Tehran early Wednesday, killing more than 170 people. Iranian news services have reported the crash was due to technical failure by the Boeing plane.
For crypto markets, investors are continuing to watch to see if bitcoin’s correlation with gold, a typical safe-haven asset in times of geopolitical and economic turmoil, will continue to strengthen.
Adam:Bloomberg Intelligence Senior Commodity Strategist Mike McGlone writes in a Crypto Outlook report that bitcoin is “winning the adoption race” partly because of its store-of-value properties, at a time when the market environment favors independent quasi-currencies.
He predicts bitcoin prices could track upward with gold this year, potentially edging toward last year’s high around $14,000.
The first-born crypto is winning as it evolves into a digital version of gold, McGlone writes.
Brad:And in news on what could be the world’s biggest bitcoin mine, Whinstone’s planned $150 million facility in Rockdale, Texas, has reportedly signed up two Japanese corporate customers.
SBI Holdings and GMO have agreed to rent mining capacity at the facility, with operations set to start in the coming months, Bloomberg News reports.
CoinDesk reported in November that the bitcoin mine would have an initial power usage of 300 megawatts, expanding to 1 gigawatt, dwarfing a nearby facility built by Bitmain, the giant Chinese maker of bitcoin-mining computers.
Adam:Turning to regulatory news, a unit of the U.S. Securities and Exchange devoted to inspections and examinations has released its list of top priorities for 2020, and digital assets are ranked as an “area of concern.”
The SEC office says it wants to address the investment suitability of digital assets, along with trading practices, fund safety, pricing and the effectiveness of compliance programs.
The SEC office noted that the market for digital assets has grown rapidly, and might present risks for retail investors who don’t understand the differences between crypto and more traditional financial products.
Brad:And finally, crypto is coming to the courtroom.
CoinDesk’s Paddy Baker reports that the Swiss-based crypto project Aragon has started recruiting jurors ahead of its planned launch of a new decentralized court system.
Starting on Tuesday, participants in the Aragon project could exchange their ANT tokens for newly minted Aragon Network Juror Tokens that can then be used to sign up to serve as jurors in disputes adjudicated in Aragon’s courtroom.
Jurors who serve are eligible for rewards paid out in – you guessed it, more tokens.
FEATURE – Cars Paying Cars
Adam:Turning to today’s featured segment, we’re talking Sony, cars and crypto. The CoinDesk team has been in Las Vegas all week for the annual Consumer Electronics Show – better known as CES. Here’s what we know, according to CoinDesk Editor John Biggs.
There is aschool of thoughtthat believes the future of cryptocurrency and blockchain happens whenrobots begin paying robots. These robots might be cleaning our houses, taking care of our elders or driving us around. Cryptocurrency becomes the value transfer medium in this scenario and all of the sensors, computers and systems associated with washing our floors or getting us around connect to the worldwide internet of value and, in the end, supplant most payment methods.
Car manufacturers probably won’t play ball. Car sales and car manufacturers depend on a few things, the primary one being that a human will buy an expensive hunk of steel and spend quite a while behind the wheel. Sony and Apple and Intel and countless mobility startups aren’t harnessed to that antiquated notion. To them, cars are computers.
So, it did not go unnoticed when…
Sony announced a car – a real, physical vehicle with wheels and seats. Obviously, this car, called the Vision-S, is a prototype and you probably won’t be going down to Best Buy to pick up some USB-C cables and a new Sony whip. But the simple fact remains that an electronics and software company is moving into real-world mobility.
The Sony car is packed with sensors – lidar, radar and cameras – and 360-degree audio with a huge, wraparound screen to entertain the driver. It is, in short, the beginning of a car-creation model that pulls the industry out of the 1900s and into the 2000s.
The electric vehicle is built on Sony’s own platform, which it plans to use in multiple body configurations. It has a reported zero-to-60-mph time of 4.8 seconds, according toCar and Driver, and a max speed of 149 mph. It’s a real car with real power.
We know very little about Sony’s future car plans and the concept model is far from ready for the market. But eventually, this car and many like it will be communicating with each other wirelessly and negotiating traffic automatically. Your wallet will take a hit if you want to get somewhere faster — your car will pay another car to get ahead of them — and you’ll spend or even earn if you can spare a few more minutes on the road. Roads themselves will request tolls for maintenance and, as we sit in relative comfort, we’ll be making requests for applications, educational materials and entertainment. And, if Facebook, Apple and Amazon have their way, we won’t be swiping a credit card.
All of this assumes Sony and Apple and Google and Amazon are all thinking the same thing. Thus far, itseems they are. They are computing companies. Computing is built on open standards, and anything traditional car manufacturers do to prevent that openness will earn them a spot outside of the network. The new driverless, self-negotiating cars will also face driver resistance. Maybe we’ll have a future where petulant car lovers boast they are both “rolling coal” and “rolling meat” by driving their antiquated vehicles manufactured before, say, 2025. But anything that stands in front of the onslaught of driverless, constantly negotiating vehicles will be run over.
In the end, maybe this Sony car is a random pop on the future’s horizon. Or maybe it’s something else: the beginning of a firework show that will truly take this extremely nascent technology mainstream. All we can say right now is people are excited about what’s to come.
SPOTLIGHT– Crypto Liquidity
Adam: And now, for today’s spotlight, we’re looking at the evolving concept of liquidity, in the rapidly evolving cryptocurrency markets.
Brad:That’s right, Adam, today we want to highlight a really smart report out this week from our colleagues on the ColnDesk Research team, Noelle Acheson and Galen Moore, looking at liquidity in crypto markets.
Liquidity is one of those market terms that gets tossed around frequently by analysts, and crypto markets have idiosyncrasies that make liquidity an even more complicated subject than in traditional markets.
In this context, the authors looked at liquidity as a measure of, generally speaking, how easily a given crypto asset can be bought or sold in a reasonably large quantity without moving the price much.
Bitcoin, the oldest cryptocurrency and the largest by market value around $150 billion, is by far the most liquid, according to the authors, and most crypto investors can enter and exit a reasonably sized position with relative ease.
Yet, as we have often seen, a large order can whiplash the price.
One key issue is that these markets are quite fragmented, with a handful of large exchanges operating in several jurisdictions, alongside medium-size regional exchanges and hundreds of other niche exchanges geared toward specific types of traders.
That spreads trading volumes across a range of venues, diluting the liquidity.
The contrast is with traditional financial markets, where there tend to be fewer exchanges to choose from, so there’s less liquidity dilution.
A more diluted trading volume makes it harder to execute a large order without affecting the price.
To place a big order without moving the price, a client may need to use various exchanges, resulting in higher costs, and that could serve as a barrier for some investors from accumulating a large trading position.
A thriving over-the-counter, or OTC, market has sprung up to solve these problems, but there’s not an abundance of reliable data on how much volume these OTC desks account for.
Another key aspect of liquidity in crypto markets is the role of stablecoins, or digital assets like Tether whose price is pegged to government-issued currencies such as the U.S. dollar.
These stablecoins can be moved rapidly from exchange to exchange, allowing investors to reduce the balances they have to hold at individual exchanges, and thus reducing their cost of capital.
The authors conclude that the unusually fragmented structure of crypto markets thins order books, increasing the cost of trading by requiring traders to execute across a range of exchanges or by pushing large orders onto the OTC market.
But they make the point that crypto infrastructure is evolving rapidly to overcome liquidity obstacles.
Those could include market consolidation as well as the growing use of prime brokers, which cater to hedge funds with brokerage services and trading loans, as well as with enhanced data reporting and metrics analysis.
There’s also the possibility that simply the entry of more money into crypto markets might do the trick.
According to the report, more liquidity could come from greater mainstream interest in crypto assets, perhaps triggered by the upcoming “bitcoin halving” in May or by the emergence of liquid derivative markets for a broader range of investors.
This could bring fresh demand for cryptocurrencies, accelerate the compression of trading bid-offer spreads and trigger the introduction of further liquidity-enhancing measures.
What’s more, growing liquidity generally tends to reduce volatility, which in turn might lead to even more liquidity.
OUTTRO
Adam:Join us again on Thursday for the next Markets Daily from CoinDesk. 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]
• Taking the TON Out of Telegram
• MARKETS DAILY: Who Should Be Allowed to Invest? || Bitcoin Bulls Eye 10k Amid Global Risk-Off Sentiment: The move took place as fears mount over the economic fallout from the coronavirus outbreak in China.
Chatter over Bitcoin’s status as an emerging safe haven has increased this year.The price of the world’s largest cryptocurrency by market cap rallied along with gold and the Japanese yen as news of the Wuhan coronavirus dominated headlines. In early January, Bitcoin jumped after news broke that Iranian Major-General Qassem Soleimani was killed in a U.S. air strike.
Goldalso soared as Middle East tensions boiled in the aftermath of the assassination. Additionally, the price of Bitcoin rose as stocks sold off on flaring concerns over the US/China trade war in August of 2019.
Bitcoinenthusiasts now look forward to the third ‘halving’ event expected to take place in May of 2020.Only 21 million Bitcoins can be mined, the last of which will be mined in 2140. The rate at which they are created is cut in half every four years. Historically, the halving events have been followed by major rallies in price. A debate rages over whether the halving expected in May will trigger another bull run, or if the event is already priced in. Bitcoin reached a record high of almost $20,000 in December of 2017.
Looking at the daily chart, we can see price is now trading above the 200-period moving average, suggesting that the bulls have the upper hand for this timeframe.Potential trendline support lies below and the market eyes the mega-psychological level of 10k overhead.
Investors now look to the conclusion of the all important FOMC meeting later today.The CME Fedwatch Tool currently shows an 87% probability that the federal funds target range will be kept steady at 1.50-1.75%.
By Dan Blystone, Chief Market Strategist atScandinavian Capital Markets
Thisarticlewas originally posted on FX Empire
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• EUR/USD Price Forecast – Euro Falls Waiting For Federal Reserve || What is a Litecoin block explorer?: A Litecoin block explorer is an essential tool for people wishing to check the status of their Litecoin transactions or track recently mined Litecoin blocks. It’s possible to find a whole host of Litecoin block explorers online, all of which provide valuable information about the Litecoin blockchain. What is Litecoin? Before we get into the ins and outs of Litecoin block explorers, here’s a recap of what Litecoin is. Launched in 2011, the Litecoin blockchain is capable of handling higher transaction volumes than Bitcoin and also offers improved storage efficiency. The downside of this speed is so-called “orphaned blocks” – when two miners produce blocks at similar times. Nevertheless, merchants that need transactions confirmed only need to wait 2.5 minutes with Litecoin compared to 10 minutes with Bitcoin. Litecoin is one of the most popular altcoins out there, so it’s no surprise to see so many block explorers devoted to the cryptocurrency. What is a block explorer? A block explorer is essentially a search engine for a blockchain. Users can explore a wide variety of data, such as the state of a transaction, transaction histories, balances of addresses, the blockchain’s hash rate, and the rate of transaction growth. Block explorers exist for Bitcoin as well as specific altcoins such as Litecoin. It’s worth noting that you can’t use a block explorer for a blockchain it wasn’t created for. If you want to track Litecoin transactions, you need to use a specific Litecoin block explorer. Who are block explorers intended for? Traders who regularly buy and sell Litecoin (or any other type of cryptocurrency) use block explorers to check the status of their transactions, including details of the payments and whether they were successful. Miners also use block explorers to confirm whether they have successfully mined a block. Other people simply have a keen interest in the cryptocurrency market and want to find out details on the number of coins that have been mined, the market cap, and other market data. Story continues What information can I discover? A block explorer enables you to search through recently mined blocks and transactions in any block that has attached itself to the blockchain in question – in this case, Litecoin. Litecoin block explorers provide a live feed of all the blocks that are being added to the blockchain. You can check the history of public Litecoin addresses, for example how many transactions they have received and their balance, and view the addresses of senders and recipients (of which there may be many assigned to one transaction). Some block explorers show information on the biggest transactions of the day, including which mining pool found the block. They also show the blockchain’s first block – otherwise known as the genesis block – along with various charts and statistics and the Litecoin blockchain mining difficulty. How to use a block explorer When you visit the website of your chosen block explorer, you’ll see a table showing the latest blocks that have been mined on the Litecoin blockchain. Typically, the information will include the height of the block (the block count), the block age (how much time has passed since the block was mined), the number of transactions contained in a single block, who it was mined by, and its size. The site shows further information on the latest transactions, including the transaction hash and value out. If you click on the transaction hash, you can find additional data on its size, fee rate, the time it was received, and the mined time. To check a specific transaction from your own wallet or any other address, you can search for it on the block explorer by copying and pasting the transaction hash into the search bar. Conclusion For anyone who trades or mines Litecoin, a block explorer is one of the most important tools to get to grips with. Block explorers are also an important way of ensuring cryptocurrencies remain transparent and accessible. To top it all off, they’re free to use and you don’t have to register in order to use the main features. As the market develops, it’s likely we’ll see additional features being added over time. The post What is a Litecoin block explorer? appeared first on Coin Rivet . || Latest Bitcoin Cash price and analysis (BCH to USD): At the time of writing, Bitcoin Cash (BCH) is trading at around $242 after a whopping 20% increase in price since last week. Over the past 24 hours, BCH has pumped more than 2.5%. Since December, Bitcoin Cash has been recording a number of higher highs and is finally showing some positive momentum after a disappointing second half of 2019. However, the price of BCH is still well below its 2019 summer high. Will BCH start pushing higher again thanks to recent developments ? And if so, what are the next levels of support to look out for? Let’s take a look at the chart, courtesy of TradingView . Bitcoin Cash is showing some positive signs and is now back near its April 2019 levels, as we can see above. The cryptocurrency had been falling since late September after it lost close to 50% in value in just a few days. After a swift recovery during November, the altcoin came crashing back down well below the 20-day EMA. Nevertheless, during December 2019, the market started to rebound. At the moment, BCH has crossed both the 20-day and 50-day EMAs – a clear bullish signal. The last time this happened, BCH ended up pumping way over 100%. For the time being, I expect BCH to trade between its EMAs for a while and to attempt to recover towards the 200-day EMA, around $280. I underlined the importance of breaking past EMAs last week , and BCH has responded in kind. The next big resistance levels are between $280 and $320, as the volume profile on the left of the chart shows. In terms of volume, Bitcoin Cash is sitting at just above $2 billion – twice last week’s volume. Safe trades! BCH fundamentals I recently spoke with Bitcoin Cash’s strongest advocate, Roger Ver , and discussed the most recent developments on the horizon for BCH. You can find all the details here , but the most juicy news seems to be the recent spike in adoption due to the implementation of smart contracts. Roger, like myself, believes key components for mass adoption are speed and flexibility. What Bitcoin Cash Oracles offers is a way for any user to easily deploy an “escrow” transaction that can be used to trade globally – without the hassle of trusting the other party. Story continues I personally think these “trade escrows” will be key in terms of adoption, especially for work-related tasks. In a way, they do enable milestone-based funding, which may be the new and better way of conducting ICOs instead of simply creating an extra layer of complexity with STOs that require KYC and accreditation – something that goes against what we should be promoting within the crypto ecosystem. Current live BCH pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest BCH price. Pricing is also available in a range of different currency equivalents: US Dollar – BCHtoUSD British Pound Sterling – BCHtoGBP Japanese Yen – BCHtoJPY Euro – BCHtoEUR Australian Dollar – BCHtoAUD Russian Rouble – BCHtoRUB Bitcoin – BCHtoBTC About Bitcoin Cash Bitcoin Cash was born out of the idea of making Bitcoin more practical for small, day-to-day payments. In May 2017, Bitcoin payments took about four days unless a fee was paid, which was proportionately too large for small transactions. A change to the code was implemented and Bitcoin Cash was born on 1st August 2017. More Bitcoin Cash news and information If you want to find out more information about Bitcoin Cash or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started: Roger Ver to launch crypto exchange on Bitcoin.com By Oliver Knight – January 7, 2020 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 . The post Latest Bitcoin Cash price and analysis (BCH to USD) appeared first on Coin Rivet . || Coinbase Custody Adds Matic To Its Institutional Cryptocurrency Vault: Coinbase, the largest US cryptocurrency exchange, has added a new digital asset to its custodial service. Matic, the native token of Matic Network, can now be deposited and withdrawn by the institutional firms that utilizeCoinbase Custody. Institutional interest in crypto assets has increased significantly over the last two years, with investment funds seeking exposure to the most traded cryptocurrencies such as BTC and ETH.
Mindful of this trend, Coinbase Custody is selective of the digital assets it adds to its insured and regulated custodial storage service. To date, it has added support for less than 40 of the 3,000+ crypto assets in circulation. The San Francisco-based company, led by CEO Brian Armstrong, has a vested interest in Matic Network, having previously provided seed funding to the fledgling startup via itsVC arm.
Optimizing Crypto Networks For Enterprise Adoption
Matic Networkis focused on scaling leading blockchains such asEthereum(ETH) – that is, increasing their throughput and speed, enabling more transactions to be processed per second. This is particularly important for enterprises that are tentatively exploring blockchain solutions. Governments, banks, tech companies, and academic institutions are all investigating the potential of distributed ledger technology. Should the many pilot programs underway proceed to full-blown initiatives, it is critical that public blockchains can handle the commensurate increase in network usage.
To support businesses seeking exposure to blockchain technology, a number of leading tech companies have created enterprise-grade solutions.IBM(NYSE:IBM) is heavily invested in Hyperledger’s modular blockchain, whileAmazon.com, Inc.(NASDAQ:AMZN) has released its own blockchain-as-a-service operating on AWS. Meanwhile,Facebook Inc’s (NASDAQ:FB) Libra project, which will operate on a native blockchain, is nearing completion, with regulatory – rather than technical – hurdles proving to be the main sticking point.
Institutional Exposure To Crypto Without The Complexity
As a young and wholly digital asset class, cryptocurrency entails a steep learning curve that requires technical sophistication to master. While anyone can custody their own digital assets, institutional investors are not comfortable with the responsibility this entails, and the lack of legal recourse should funds be stolen or lost through mismanagement. Third party services such as Coinbase Custody provide a turnkey solution, managing assets and even disbursing interest on tokens that incorporate staking rewards such asTezos(XTZ) andStellar(XLM).
Many of the assets that have been added to Coinbase Custody have subsequently been added to Coinbase exchange, where they can be bought and sold by retail investors. For Matic Network, whose token was issued less than a year ago on Binance via an initial exchange offering, making it into the vaults of Coinbase Custody is quite a coup.
The project will soon introduce staking, giving users an incentive to lock up Matic tokens. Should Coinbase Custody introduce passive Matic staking for its clients, it will be another ringing endorsement for the fledgling blockchain scaling project.
Image by xresch from Pixabay
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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Hacks on Louisiana Parishes Hint at Nightmare Election Scenario: (Bloomberg) -- James Wroten called the clerk of court in Vernon Parish, Louisiana last November with an urgent message.
The timing wasn’t convenient. The clerk, Jeffrey Skidmore, was relaxing on his back porch and hoping to soak in some final moments of quiet before state and local elections. Skidmore let the call go to voicemail.
But Wroten, whose company manages IT services for small companies and local governments, persisted until Skidmore finally picked up.
“He told me we’d been infected by ransomware and to ask all 14 of my employees not to go into the office or try to access any of their files,” said Skidmore. “I was stunned. We had an election in six days.”
That call, Wroten later recalled, was the start of one of the worst weeks of his life. Hackers had infiltrated Wroten’s company, Need Computer Help. From there, the attackers used the connections Wroten’s employees need to do their job in order to breach the networks of Vernon Parish and six other local parishes, the Louisiana equivalent of counties.
The attacks highlight how vulnerable local jurisdictions remain despite four years of efforts to shore up defenses in preparation for the 2020 presidential election. The U.S. Department of Homeland Security has repeatedly warned about the risk of ransomware before the upcoming vote. A cybersecurity expert hired by Wroten believes the attacks on Louisiana’s parishes were purposefully deployed just before the election.
QuickTake: What Is Election Hacking, and Can It Change Who Wins?
Although no election systems were directly impacted, the attack placed enormous stress on local jurisdictions at a critical time. The same attackers also infiltrated other Wroten clients, including local courthouses, sheriffs’ offices and companies in finance, health care and manufacturing between Louisiana and Texas, using relatively easy to obtain malicious code known as Sodinokibi, which has been dubbed the “crown prince of ransomware.” (The cybersecurity firm Coveware Inc. said in a 2019 report that Sodinokibi had been targeting IT managed service providers through a variety of software vulnerabilities).
While targeting local voting authorities in rural Louisiana may not be especially lucrative to hackers, ransomware attacks -- which lock up files with encryption until the victim pays a specific fee -- are capable of disrupting voter registration, voting and tabulation, according to federal authorities. Even if hackers time criminal attacks to elections because they believe the added pressure might get officials to pay faster, a wave of well-timed attacks could still create a cloud over results -- just as the recent malfunctioning of an app used to transmit caucus data did in Iowa.
The ransomware attack on the parishes came just before an apparently unrelated hack of the state of Louisiana’s computer networks. Just days after a contentious Nov. 16 election, the winner, incumbent Democratic Governor John Bel Edwards, announced that state computer networks had suffered a massive ransomware attack, shutting down email communication and paralyzing the Office of Motor Vehicles, among other critical agencies.
But details on the earlier attack hitting local governments have emerged only recently. A forensic review, including computer logs tracking the hack, were made available to Bloomberg News, and they reveal a key detail: Even though the hackers had been in the system for four months, they waited until just before Election Day to launch the attack.
Jason Ingalls, a Louisiana-based breach response specialist, was hired to review how the hackers broke into the network and what they did while inside. He’s concluded that the hack was more than a mere coincidence.
“We believe it was executed at that time on purpose,” said Ingalls. “They had been in the environment for months prior and decided to pull the trigger a week before the election. Weeks later, the state was attacked too. If this was a test, it creates a very dangerous model for discrediting election results.”
Ben Spear, director of the Elections Infrastructure Information Sharing and Analysis Center, or EI-ISAC, dubbed such attacks “stropportunistic” -- an attack strategically focused on collecting ransom that also presents opportunities for additional malicious activity. The EI-ISAC is a conduit between the federal government and local election authorities for securing election systems and responding to breaches and vulnerabilities.
Details of the attack can be pieced together from Wroten’s computer logs. The attackers infiltrated Wroten’s network on July 23 at 3:17 p.m. but did not execute the ransomware until 11:10 a.m. on Nov. 10. As Wroten began to appreciate the magnitude of the attack, he contacted Ingalls, who’d previously helped governments and private entities recover from ransomware attacks. Among Ingalls’ experience was negotiating with hackers on the dark web who demanded payment in Bitcoin in exchange for providing a decryption key.
In this case, the attackers wanted $3.5 million from all the victims, including the parishes and private companies, Ingalls said.
In the six weeks after the attack, Ingalls took inventory of the encrypted data and identified those files that couldn’t be restored without payment. That included a district court’s recordings of a murder trial ending in conviction and sentencing, and family photos an employee of a private company had stored on a professional device.
Ultimately, he said he negotiated the ransom down and cobbled together enough cash to unlock those 20 computers that required decryption for recovery. He declined to say how much the hackers were paid, or what individual victims contributed.
Wroten’s company, Need Computer Help, wasn’t completely lacking protection, Ingalls said. The company had invested in antivirus software and firewalls, updated its programs and backed up all its data. But when hackers acquired credentials to access the network, none of those protections were of any use. The malware was too sophisticated to be detected by antivirus and firewall protections, and the backup system was compromised in the same way the rest of the network, he said.“What we’ve got here is a bunch of people using Revolutionary War equipment to defend themselves against fighter bombers from Russia,” he said. The hackers haven’t been identified, though law enforcement is continuing to investigate. Ingalls said the malicious code was configured to shutdown any attack on a system where the keyboard corresponds to Russian or other Eastern European languages, a possible clue to where the hackers originate.
The credentials the hackers acquired yielded access to software that Wroten’s company had licensed from a third party provider, ConnectWise, to remotely manage his clients’ IT systems. ConnectWise said in a statement that Wroten’s firm hadn’t adopted enhanced security protocols, like multifactor authentication, offered by the company to defend against such attacks.
“The product thus performed as designed and was misused by these threat actors with stolen credentials,“ ConnectWise said in a statement, adding that it’s now in the process of making multifactor authentication mandatory for all clients using its Automate services.
The use of managed IT service providers such as Wroten’s by local governments has grown as public budgets have shrunk, especially among city and county governments, according to state and local officials. And that budget consciousness may be part of the problem.
Wroten estimates 80% of Louisiana parishes administer IT tools using remote service providers. While there’s no data on how many voting jurisdictions across the U.S. rely on remote IT, election administrators estimate around 50% of the more than 7,000 voting districts in the U.S. use managed service providers.After last year’s attack, Wroten embraced updated cyber defense tools to protect his network, adding multifactor authentication and threat detection systems. But providing these new services to his clients has forced him to increase costs by 20%. Since then, he’s lost business, with about 5% of his clients going elsewhere or possibly skipping IT services altogether.”Many of these jurisdictions have two choices because of their budgetary constraints: remote access IT support or no IT support,” said Louisiana Secretary of State Kyle Ardoin. “Quite often, they choose the latter and pay for services as needed. For some, security has been an afterthought.”
The state is now embarking on a 30-day assessment with the Federal Bureau of Investigation to understand the depth of vulnerabilities across parishes and state departments, Ardoin said.
“No one can ever say for certain 100% that their network is secure,” Wroten said. “Given the amount of malware and ransomware activity going on within government and private networks on a regular basis, there’s a very high risk that jurisdictions will have to take the time to wade through these kinds of attacks before credibly certifying their results in 2020.”
--With assistance from Jordan Robertson.
To contact the reporter on this story: Kartikay Mehrotra in San Francisco at [email protected]
To contact the editor responsible for this story: Andrew Martin at [email protected]
For more articles like this, please visit us atbloomberg.com
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©2020 Bloomberg L.P. || Ethereum price accelerates towards $300: The price ofEthereum (ETH)has shot up in recent weeks. Since January 1, the coin has more than doubled in price, rising from $130 to its current value of $283.
It has made strong gains againstBitcoin (BTC)too. The coin went from 0.018 BTC to 0.027 BTC in the same timeframe, a 50% increase.
Altcoins are racing past Bitcoin ahead of its halvening
Alongside otherbullish performancesfrom the rest of the altcoin market, this has helped erode Bitcoin's market dominance—its share of the entirecrypto market. Bitcoin's market share has fallen from 68% down to 61% since the start of the year. In contrast, Ethereum's share has bloated from 7.4% to 10%.
As a result, Ethereum looks set to challenge previous highs. Its last peak was at $351 in June 2019, a price value that hadn't been seen since August 2018—on the wane of the crypto bubble. But first it needs to challenge the $300 psychological price point.
Ethereum's not the only top 10 coin in the green today. Theprice of XRPis up three percent, reaching $0.34. It has similarly seen strong growth in recent months, having risen from a low of $0.18 on December 18. || Dow plunges 454 points as fears about coronavirus rattle investors: U.S. stocks posted their worst day since October on Monday, as fears over the spread of a deadly outbreak of coronavirus rattled Wall Street. Investor fears grew on the potential economic fallout from the outbreak. The death toll in China has climbed to 81, according to Chinese officials. More than 100 people in 26 states are being monitored for the virus , a U.S. health official said Monday. The National Health Commission said more than 2,700 people are infected. More than 40 of those cases have been confirmed in a dozen other countries, including five in the U.S. The latest developments sent stocks tumbling worldwide, hitting everything from airlines to resort operators. “The coronavirus is the number one threat to financial markets currently as global investors are becoming jittery on the uncertainty,” Nigel Green, chief executive and founder of financial consultancy deVere Group, said in a note. Taxes 2020: When to file and what changes to expect Banks, Bitcoin, bond funds: Where is your money safe in an era of cyberattacks? Fear about the effects of a new virus found in China is spreading faster through financial markets around the world than the sickness itself. The Dow Jones industrial average dropped 453.93 points, or 1.6%, to close at 28,535.80. The Standard & Poor’s 500 slid 1.6% to end at 3,243.63. The technology-heavy Nasdaq Composite shed 1.9% to finish at 9,139.31. The Dow and S&P 500 recorded their worst one-day drop since October while the Nasdaq logged its biggest fall since August. Casino, airline and retail stocks slump Casino companies with resorts in China came under pressure. Shares of Wynn Resorts, Las Vegas Sands and MGM Resorts International dropped 8.1%, 6.8% and 3.9%, respectively. Travel-related stocks including Carnival, Expedia and Marriott International each dropped at least 2.1%. Retail companies that generate revenues from China also slid. Estee Lauder lost 4.1% and Nike fell 1.8%. Airline stocks tumbled as the outbreak triggered travel bans. American Airlines fell 5.5% and Delta dropped 3.4%. While travel and retail stocks will likely come under further pressure, most investors who have a diversified portfolio should still avoid knee-jerk reactions to the latest coronavirus news, Green cautioned. Story continues “History teaches us that most issues of this kind have a short-term impact on stock markets,” Green says. Randy Swan, chief executive and lead portfolio manager at Swan Global Investments, agrees. "Right now, we’re still in a speculative phase with regard to handicapping how much the virus will ultimately impact the global economy or even corporate profits in travel-linked sectors," Swan said in a note. Wall Street eyes earnings season Investors turned their attention to this week's earnings calls to assess how the outbreak could potentially weigh on corporate profit growth. Earnings season is in full swing, with roughly 40% of S&P 500 companies set to report fourth-quarter results this week. Those companies include Apple, Boeing, Microsoft, Facebook and Amazon. Oil prices fell, weighing on energy stocks. Concho Resources, Schlumberger and Halliburton lost at least 4.5% each. U.S. crude dropped 1.9% to settle at $53.14 a barrel, its lowest closing price since mid October. Investors have shifted money to safe-haven corners of the market like high-dividend paying stocks, the Japanese yen and government bonds. The yield on the benchmark U.S. 10-year Treasury note fell to 1.61% from 1.68% Friday. Most markets in Asia were closed for the Lunar New Year. Japan’s Nikkei 225 lost 2%. The pan-European Stoxx 600 fell 2.3% while Germany’s DAX slumped 2.7%. This article originally appeared on USA TODAY: Coronavirus outbreak: Dow plunges 454 points as fears grow || Bitcoin should be listed directly on Korea Exchange, says a government committee: The Presidential Committee on the Fourth Industrial Revolution, a group set up by the South Korean government, has recommended that bitcoin should be listed directly on Korea Exchange (KRX), the country’s sole securities exchange operator.
The committee has also suggested allowing cryptocurrency products, such as bitcoin derivatives, in the country, according to areportfrom Business Korea on Monday.
The Korean government has also been advised to consider introducing business licenses or guidelines for cryptocurrency exchanges as it is “no longer possible to stop crypto-asset trade.”
"The Korean government has to gradually allow institutional investors to deal in crypto assets and promote over the counter (OTC) desks dedicated to institutional investors’ trade," said the committee. It has also recommended the government to introduce a Korean custody solution to avoid relying on foreign custodians for the storage of cryptocurrencies, per the report.
South Korea has been taking an increasing interest in the cryptocurrency space. The country's government recentlysaidthat it wants to start taxing residents’ cryptocurrency-related profits. Last week, South Korea's taxation authorityleviedwithholding tax of ~$69.5 million on South Korea's largest cryptocurrency exchange, Bithumb. || YouTube Calls Crypto Purge a Mistake but Many Videos Still Missing: YouTube erroneously purged cryptocurrency education videos from its video-sharing platform this week but claims to have reinstated them, according to a spokesperson. Content creators, however, are telling a different story.
Responding to allegations it had intentionally deleted content from cryptocurrency education channels ChrisDunnTV, Crypto Tips, BTC Sessions and others in what apparently amounted to hundreds of missing videos, the spokesperson said YouTube made “the wrong call.”
“With the massive volume of videos on our site, sometimes we make the wrong call. When it’s brought to our attention that a video has been removed mistakenly, we act quickly to reinstate it. We also offer uploaders the ability to appeal removals and we will re-review the content,” the spokesperson said. YouTube has issued near-identical statements after previous inadvertent video purges.
Related:PewDiePie Helps Blockchain Video Streaming Platform to 67% Hike in Users
The spokesperson further stated YouTube has not changed any policies related to cryptocurrency videos.
In spite of this, some YouTubers claim their deleted videos remain inaccessible. Chris Dunn, who runs an investment education channel with 200,000 subscribers and a multi-year video library, says the purge has actually gotten worse since he successfully appealed his deletions.
“Today, YouTube not only took down the videos that they reinstated yesterday, but they took down at least one other video that they’d never taken down before,” Dunn said.
At press time a number of videos are still missing from Dunn’s channel and others that CoinDesk directly asked YouTube about, like Crypto Tips. YouTube has not yet responded to follow-up questions.
Related:Top YouTuber PewDiePie Joins Blockchain Live Streaming Platform
The conflicting statements are sure to increase the furious speculation over why YouTube deleted the videos in the first place. Multiple theories abound. Dunn said he has no idea why it occurred – not all of his deleted videos had to do with crypto – but said it could be the work of someone “maliciously reporting” him and others or, perhaps, faulty video-flagging AI.
Dunn said YouTube flagged videos as “harmful or dangerous content” and the “sale of regulated goods.” Dunn told CoinDesk he does not sell products on his channel and does not monetize his videos with ads.
Regardless of the whether the purge was intentional or not, Dunn said he and other content creators have noticed YouTube target content it deems objectionable to itself or its advertisers.
He pointed to YouTube’s demonetization of violent political videos, likefootage of the Hong Kong protests, and its recent terms of service update, which features a throwaway account termination clause with potentially far-reaching ramifications.
“YouTube may terminate your access, or your Google account’s access to all or part of the Service if YouTube believes, in its sole discretion, that provision of the Service to you is no longer commercially viable,” the Dec. 10 ToSupdatereads.
Dunn said he interprets that to mean YouTube can terminate creators who do not make it money.
He told CoinDesk he is seriously considering walking away from YouTube altogether. Contacted for additional comment Thursday, Dunn said he had a goodbye video ready to go and was only waiting for the situation to clear up.
Dunn’s plan, if he invokes that nuclear option is to move his content to “decentralized platforms” where no single entity exerts commercial control.
• YouTube Accused of Negligence in BitConnect Fraud Lawsuit
• Startup Raises $20 Million to Build ‘YouTube on the Blockchain’
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 9690.14, 10142.00, 9633.39, 9608.48, 9686.44, 9663.18, 9924.52, 9650.17, 9341.71, 8820.52
|
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 2019-04-15]
BTC Price: 5067.11, BTC RSI: 65.17
Gold Price: 1286.80, Gold RSI: 43.32
Oil Price: 63.40, Oil RSI: 64.47
[Random Sample of News (last 60 days)]
Take Advantage of These Leveraged ETFs as Trade Talks Wind Down: This article was originally published onETFTrends.com.
Global economic fears on Friday took a back seat with data coming out of the United States revealing that the labor market remains robust, but the primary trigger event is still a U.S.-China trade deal that’s still undergoing negotiations. While some analysts feel a trade deal is already priced into the markets, investors are hoping it could continue to help sustain the strong start for U.S. equities thus far in 2019.
As trade talks begin to wind down, traders can look to leveraged exchange-traded funds (ETFs) to tactically play the U.S.-China trade deal news.
“Trump is pressing China at the last stage of the talks, requiring it to offer greater concessions on market opening and strengthen the supervision over the implementation of promises,”saidLi Yishuang, a Shanghai-based economist at China Securities Finance Co. who specializes in international trade. “But these issues are all at the implementation level. A deal in principle is still likely to be reached by the end of April.”
While all signs may point to bullishness for a trade deal, a short-term trader may also recognize that weakness could also occur if the specifics of the deal may skew towards the U.S. more versus China. In this case, a less-than-substantive trade deal could tilt the markets in favor of the U.S. over China or vice versa--a case for looking at leveraged inverse ETFs as well.
Leveraged ETFs to watch include theDirexion Daily FTSE China Bull 3X ETF (YINN) ,Direxion Daily FTSE China Bear 3X ETF (YANG) ,Direxion Dly CSI 300 China A Share Br 1X ETF (CHAD) ,Direxion Daily CSI 300 CHN A Share Bl 2X ETF (CHAU) , andDirexion Daily CSI CHN Internet Bull 2X Shares (CWEB) .
Related:Identifying Opportunities Overseas to Capitalize on International Market Strength
Relative Weight ETF Options
Additionally, investors who don't want to necessarily use leverage and want to take on a more broad-based approach as opposed to being country-specific can look at relative weight ETF options.
For example, investors looking for continued upside in U.S. equities over international equities, theDirexion 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.
Conversely, if investors believe that international markets will outperform U.S. domestic markets, theDirexion FTSE International Over US ETF (RWIU) provides a means to not only see international markets perform well, but a way to capitalize on their outperformance compared to the U.S. markets.
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READ MORE AT ETFTRENDS.COM > || USD/JPY Fundamental Daily Forecast – Flat to Lower Despite Bullish News: The Dollar/Yen is trading lower on Thursday, but inside the previous session’s range. The price action suggests investor indecision and impending volatility. On Wednesday’s the Forex pair rallied after the release of the Fed minutes, however, there has been no follow-through to the upside. The price action is surprising because U.S. Treasury yields are firming and investor appetite for risk is continuing. Furthermore, economic data in Japan was week, which suggests the Bank of Japan may have to inject more stimulus into the economy. At 05:00 GMT, the USD/JPY is trading 110.725, down 0.127 or -0.12%. Fed Minutes In its minutes, the Fed judged that a “patient” approach to interest rate hikes would be prudent as it continued to weigh various headwinds to growth. These headwinds included “the possibilities of a sharper-than-expected slowdown in global economic growth, particularly in China and Europe, a rapid waning of fiscal policy stimulus, or a further tightening of financial market conditions.” The minutes also showed Fed policymakers spent a lot of time discussing market conditions, particularly on the emphasis that Fed actions were having on prices of risky assets like stocks and corporate bonds. That being said, the Fed also signaled they will soon lay out a plan to stop letting go of $4 trillion in bonds and other assets, but are still debating how long their newly adopted “patient” stance on U.S. rates will last. Japan Economic Data Japanese manufacturing activity contracted in February for the first time in two-and-a-half years as factories cut back output amid shrinking domestic and export orders, a private survey showed on Thursday. The survey also showed business confidence in Japan soured for the first time in more than six years, highlighting the growing toll that the U.S.-China trade war is inflicting on Asia’s export-reliant economies and global manufacturing, according to Reuters. Story continues The Flash Markit/Nikkei Japan Manufacturing Purchasing Managers Index (PMI) fell to a seasonally adjusted 48.5 in February from a final 50.3 in January. This represented the first contraction since August 2016. Additionally, industry activity in Japan dropped 0.4% in December compared to the previous month, according to a report by the country’s Ministry of Economy, Trade and Industry. The seasonally adjusted index of all industry activity stood at 105.8 in December, compared to 106.2 in November. Daily Forecast It’s hard to explain today’s weakness because the reports are bearish for Japan’s economy, which means the Bank of Japan is going to have to continue to be accommodative. This should be bullish for the USD/JPY. Furthermore, the Fed minutes were supportive for higher risk assets, which should’ve also made the Japanese Yen a less-desirable asset. On Thursday, investors will get the opportunity to react to a slew of U.S. economic data including Durable Goods, the Philadelphia Fed Manufacturing Index, Weekly Unemployment Claims, Flash Manufacturing PMI, Flash Services PMI, the Conference Board’s Leading Index and Existing Home Sales. These reports won’t have much an impact on the USD/JPY if bullish news about a U.S.-China trade deal comes out. According to a report from CNBC, “Negotiators are drawing up six memorandums of understanding on structural issues: forced technology transfer and cyber theft, intellectual property rights, services, currency agriculture and non-tariff barriers to trade.” This news will be supportive for U.S. equities, which should help to underpin the Dollar/Yen. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Forex Technical Analysis – February 21, 2019 Forecast Is it Time For The long Bitcoin? Central Banks – Who is the Most Dovish of them All? EUR/USD Price Forecast – Range Bound Action Continues Ahead of EU And US PMI Updates A Packed Economic Calendar Puts the EUR and USD in the Spotlight Natural Gas Price Fundamental Daily Forecast – Bullish EIA Report Could Drive Market into $2.749 to $2.792 || Bitcoin Crash Coming? Overbought Levels Near 2017 $20,000 Peak: The latestbitcoin pricerally has pushed the asset into an extremely overbought region which could likely result in an interim crash.
TheRelative Strength Indicator(RSI), an oscillator which studies the speed and change of price movements, measures a market’s sentiment on a scale of 0 to 100. When RSI is above 70, it defines the market as overbought. And when it is below 30, the same indicator defines the market as oversold. The current bitcoin price action shows that the daily RSI has established 2019’s top towards 87, which means bitcoin is extremely overbought.
Bitcoin confirms 2019 RSI peak | SOURCE: YAHOO FINANCE
The last time bitcoin’s daily RSI had entered its overbought zone – in a no-fakeout action – was in December 2017. On the 7th of the month, when bitcoin closed the market at $16,880 in a then-ongoing upside momentum, the RSI had touched 95. What followed later was a correction towards $13,214 – a 23-percent price drop, which alongside brought the RSI down to 72. Later, bitcoin established its all-time high towards $20,000 only to enter its most extended bearish phase in 2018.
The bitcoin’s daily RSI momentum is close to exhaustion for now. It is likely that the asset price drops by huge margins, initially towards its 200-daily moving average (the red curve) while maintaining a downside target towards the 50-period EMA (the blue curve). Such a price move would bring the RSI back below 70, with a probability to retesting 50 as a proven accumulation area.
From a weekly perspective, the bitcoin RSI is on the crossroads between bulls and bears. The historical price action suggests that bitcoin never initiated a strong upside action as long as the weekly RSI remained below 56. The November-December 2017 surge saw the RSI briefly breaking above 56. Similarly, ahead of the November 2013 jump, the RSI had sustained itself 56. The same pattern could be noted during the April 2013 and January 2012 rallies. Those point of contacts ahead of every surge are hard to miss.
Read the full story on CCN.com. || Bitcoin And Ethereum Daily Price Forecast – Major Cryptos Consolidate Post Profit Booking Activity: Cryptocurrency market is once again trading in consolidative price action post positive start of the week. The pattern has been recurring in the market, a positive start followed by decline owing to profit booking activities post which crypto market sees major crypto coins recovering some of the losses incurred and moving onto a consolidative phase. While activity in the cryptocurrency trading market remains high, when looking from the perspective of market capital, there hasn’t been much of a change in value for bitcoin and other major legacy cryptocurrencies. A look at the intra-day chart shows corrective price rally in play for 8 out of top 10 crypto coins over the course of the last 24 hours.
As news hit the market recently that approval of Bitcoin ETF’s by SEC is unlikely to occur in near future as current proposals submitted to SEC still show vulnerability towards being manipulated, investors began booking profits. The headline is viewed by investors as a warning for impending bearish activity in the crypto market. Owing to the decentralized nature of assets being traded in the crypto market, headlines and investor sentiment play a major role as fundamental factors that decide the outcome of a price rally. Currently, two Bitcoin ETF proposals are in the table of SEC but it looks like neither will receive the approval within the maximum time frame of 240 days by which the proposals have to be approved.
As of writing this article, BTCUSD pair is trading at $3934.4 down by 0.32% on the day, while ETHUSD pair is trading at $145.58 down by 0.70% on the day. The price action in the broad market is also seeing bitcoin and other major legacy crypto coins facing strong resistance near psychological price levels. The longer it takes to breach this price level, the probability of long term bullish price run goes down. Meanwhile, a look at market volume data in coinmarketcapital website shows a decrease in overall trading volume of bitcoin post profit booking activities. This implies that bears have begun to fight for control and bearish price rally is well within the horizon. However, given the fact that a significant portion of the trading volume is still intact, bitcoin and ethereum are likely to continue seeing positive price action for rest of the day and in immediate future.
Please let us know what you think in the comments below
Thisarticlewas originally posted on FX Empire
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• Crude Oil Price Forecast – crude oil markets stall at resistance || Coinbase.com Users Can Now Send Crypto Directly to Firm’s Wallet App: Coinbase has launched a new feature allowing user to directly transfer cryptocurrency holdings on Coinbase.com to accounts in the firmâs Wallet app. The San Francisco-based cryptocurrency exchange announced the news in a blog post on Tuesday, saying that users will be able to link their accounts once the app gets updated in the ânext few days.â âOnce your Coinbase account is linked, you can easily transfer crypto to your Wallet app with just a couple of clicks, anytime you need it,â the exchange said. Samsung Unveils Cryptocurrency Wallet, Dapps for Galaxy S10 Phone Coinbase explained that with the Coinbase.com account, users can buy cryptocurrencies and the exchange itself stores the keys centrally. However, with the Wallet app, users safeguard their own private keys. The new feature is optional. After the app update is released, users will receive an in-app notification to âConnect to Coinbaseâ to link the accounts if they so choose. The account linking can be turned on or off at a later date from the Settings menu, the exchange said, adding that the feature would add convenience for Coinbase users that regularly transfer funds from their Coinbase.com account to a software or hardware wallet. Social Trading Giant eToro Adds Crypto Buying and Selling in 32 US States Coinbase is also planning a future update that will allow cryptocurrencies to be directly sent to users’ Coinbase.com accounts from the app. Coinbase has added a series of new features to the Wallet app lately. Last month, the app announced support for bitcoin (BTC), bitcoin cash  (BCH) and litecoin  (LTC) on both iOS and Android. Also in February, Coinbase announced that Wallet users would be able to back up their private keys on personal cloud storage platforms Google Drive and Apple iCloud. App images courtesy of Coinbase Related Stories Coinbase Says It Never Shared ‘Personally Identifiable’ Customer Data Coinbase Pushes Out Ex-Hacking Team Employees Following Uproar || The Media’s Cringeworthy Coverage of Bitcoin’s Latest Price Surge: Mainstream news coverage of cryptocurrency is often disingenuous or factually incorrect â thatâs certainly no surprise given the nascent technology is widely misunderstood. But if one would have thought that recent milestones â bitcoinâs 10th anniversary, the arrival of crypto projects from the likes of JP Morgan and Facebook â would have encouraged the media to get smarter, this weekâs news shows attitudes at major publishers havenât changed much. This is especially true during times of heavy market activity like that of bitcoinâs April 2 breakout, which saw its price rise 17 percent over a 30-minute period. Startup Behind Ethereum DEX Releases Lightning Developer Tools As CoinDesk readers know , the move was foreshadowed by changes in market data and sentiment. With volatility hitting multi-year lows, multiple technical indicators flashings signs of a bottom and fundamental catalysts (the upcoming halving) combining, there were plenty of developments that signaled a change might be on its way. Still, far from examining developments (or asking serious questions), much of the mainstream mediaâs coverage devolved into outright theory and speculation. Hereâs the worst of what was a genuinely bad bunch. Gizmodo Bitrefill’s ‘Thor Turbo’ Lets You Get Started With Bitcoin’s Lightning Faster While articles like these from Gizmodo are useful in gauging retail sentiment â ie, determining where the average Joe sits in terms of understanding and valuing cryptocurrency â they, unfortunately arenât useful for anyone who wants to be informed. Writers like Matt Novak have a point â novice retail investors were given a bitter taste in 2018, when the market for cryptocurrencies took a turn for the worse. Still, thatâs no excuse for not educating yourself or your readers, who, without such learning, may repeat mistakes. The article reads: âTo be clear, bitcoin is absolutely worthless by any real measure. Itâs fake money thatâs about as practical to use in the real world as Monopoly bills. Bitcoin is backed by nothing and requires tremendous amounts of energy to mine using computers.â Story continues Without spending too much time on this statement, there are a few incorrect passages, that in particular, donât ring true. For one, bitcoin definitely can act as a medium of exchange. It can be, and today is used to facilitate the commerce and trade of goods between parties, a core fundamental function of modern money. Next, itâs backed by the computer operators that mine the network itself, all of whom invest real dollars, manpower and equipment in ensuring the network is functional. Finally, while the cost of mining bitcoin remains high thanks to its large energy consumption, this does not mean it cannot run off renewable energy and take advantage of natural events that reduce the cost and lessen the impact to the environment. It seems mainstream media tends to forget that the cost of mining bitcoinâs physical competitor, gold, is perhaps even more guilty of harming the earth’s environment as its miners regularly tear apart massive landscapes and leave behind loads of toxic waste . To state that this will forever be bitcoinâs final form borders on ignorance as well, as we have seen time and time again that the evolution of technologies usually comes from a solution to fix a specific problem. Reuters One of the least offensive of the bunch, a Reuterâs report that cited a solo âmysteryâ buy order as the main cause for a huge price spike still offered a confused take by focusing in on a sole market irregularity. In particular, it highlights a claim made by the chief executive of cryptocurrency firm BCB Group, Oliver von Landsberg-Sadie, who argued the case that the move was the responsibility of a single buyer. The article reads: âTodayâs gain (April 2) was probably triggered by an order worth about $100 million spread across U.S.-based exchanges Coinbase and Kraken and Luxembourgâs Bitstamp. There has been a single order that has been algorithmically-managed across these three venues, of around 20,000 BTC.â This is hard to corroborate with independent analysis as the article did not provide evidence of the orders, merely statements that negate other factors.  As the price climbed higher, this resulted in a snowball effect of buying as shorts were closed and limit buy orders were triggered, causing its price to rise faster and higher. Using an hourly view of bitcoinâs price we can see just how much volume was recorded during a single trading period by looking at the volume bars and order books and then noting their readings. At 4:00 UTC on April 2, Coinbase recorded a total of 6,889 units in a single hour and Bitstamp handled close to 3,798 units while Kraken had the least at 4,121 bitcoin units traded in the same hour. This created a total of 14,808 units traded in the hour of the surge, yet Reuters and CNBC claimed 7,000 units were purchased on each of the three different exchanges in tandem by a single entity at the time of the suge. Needless to say the numbers don’t quite add up. Also of note, data shows that growing buy volume began to increase substantially across most major exchanges, not just the three highlighted in the article. CNBC Then there is the âFast Money,â notorious amongst the crypto trading community for getting things so wrong they act as a counter-indicator . Indeed, a mere 38 seconds into this CNBC Fast Money video an analyst makes a comment regarding bitcoinâs movement above the 200-daily moving average occurring for the first time since May when in fact it was March 2018, leaving room for speculation about what else they could be misleading. Throughout 2018, CNBC and its subsequent panel show Fast Money made some outrageous comments regarding the direction of bitcoinâs price and advice to investors. Comments such as âdonât fear the dip, bitcoin will more than double in 2018â and âwhat will hit 25k first, bitcoin or the DOW,â itâs no wonder they have claimed such a bad reputation for calling a correct directional bias and sticking to it. Whatâs more, another CNBC analyst Andrew Sorkin suggested on SquakBox the rally was a product of a harmless April fools joke published by a news outlet the day prior, that facetiously stated: âIn a shockingly sudden April fools 1st decision, the United States Securities and Exchange Commission has made the decision to approve not one, but two applications for Bitcoin-based exchange traded funds (ETFs.)â The word âoverstatedâ comes to mind when you look at the numbers â that would imply the market capitalization of all cryptocurrencies could increase nearly $40 billion on that back of a harmless prank, and that an entire body of global traders would price in such an event. The market for crypto may be small… but that small? We doubt it. Disclosure: The author holds no cryptocurrency at time of writing. Newspapers image via Shutterstock Related Stories 10 Passes to Go: Bitcoin’s Lightning Torch Will Soon Burn Out The Biggest Winners from April’s Early Crypto Market Rebound || IMF boss worried that crypto is ‘shaking the system’: Cryptocurrencies are “clearly shaking the system” according to the Managing Director of the International Monetary Fund (IMF) Christine Lagarde. The IMF chief’s words followed a panel at the IMF Spring Meetings in which she called for financial regulation to move forward with fintech innovation. If you really wanted stability you would have stayed on gold. You chose an instable and "shaking" system when you made the catastrophic engineering decision to build a global financial system on government shitcoins! pic.twitter.com/Lft5W0ikgg — Saifedean Ammous (@saifedean) April 11, 2019 Regulation needed to protect the system from crypto Lagarde spoke about a need for regulation to actually have a purpose to protect the incumbent legacy system from the decentralised threat of crypto. She said: “I think the role of the disruptors and anything that is using distributed ledger technology, whether you call it crypto, assets, currencies, or whatever… that is clearly shaking the system.” The technology is already being used or trialled by some of the world’s largest companies. Facebook is reportedly trying to raise $1bn to start its own cryptocurrency for use on WhatsApp, and JP Morgan is set to launch a coin to accelerate transactions between its own clients. Legacy markets losing stability Largarde highlighted that regulation must accompany such technological advances since too much innovation could “shake the system so much that we would lose the stability”. However, Bitcoin advocate and author of ‘The Bitcoin Standard: The Decentralized Alternative to Central Banking’, Saifedean Ammous, spoke out against the IMF chief for the hypocrisy of arguing a system based on soft fiat money was more stable than one based on truly sound money. Lagarde also warned of technology companies entering the finance sector and that they should be subject to regulation or else “they will have to be held accountable so that they can be fully trusted”. The post IMF boss worried that crypto is ‘shaking the system’ appeared first on Coin Rivet . || Bitcoin Price: Yes, The Worst is Finally Over for the Crypto Market: Fundstrat predicts that sunny skies lay ahead for the bitcoin price. | Source: Shutterstock After a long and arduous winter, green shoots of a crypto market recovery have begun to emerge. Perhaps the only ones left out are the haters. Economist Nouriel Roubini comes to mind. If you ask market strategists at Fundstrat, they might say Roubini is in for a bumpy ride. The latest Fundstrat report is entitled: Increasing evidence [the] worst [is] behind us for crypto. Not only that but the firm is going out on a limb, saying the skeptics are on the wrong side of history. That means you, Nouriel . Bitcoin Is Surging Again. Just Ignore It https://t.co/8ZXc8zwuZb Nouriel Roubini (@Nouriel) April 3, 2019 Prescient Fundstrat Panel Agrees the Worst Is Behind Crypto Fundstrat in recent days hosted what they describe as a rockstar panel discussion at the Texas CFA Summit in San Antonio. Incidentally, the event was held prior to the bitcoin price s stratospheric rise over the past couple of days. Yet, the panelists, who included CasaHODLs Jameson Lopp, Adamant Capitals Tuur Demeester, and Fidelity Investments Josh Deems, already seemed to know what was coming around the corner. Last Friday, the panelists observed that the worst is behind for the crypto market , according to the Fundstrat report. They got the feeling that capitulation happened at year-end 2018, which led Fundstrat to conclude 2019 would not see new lows for bitcoin. Read the full story on CCN.com . || US CFTC Chair Says Agency Has Resisted Calls to Suppress Development of Crypto Sector: United StatesCommodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo has emphasized the agency’s commitment is to monitor, but not impede, the development of the crypto asset sector.
Giancarlo made hisremarksduring a speech devoted to EU-U.S. regulatory cooperation for derivatives markets, delivered at the Eurofi Financial Forum in Bucharest, Romania on April 4.
The chairman expressed his agency’s support of international efforts to review the effectiveness of the G20's derivatives reform agenda and to ensure they enhance, rather than stifle, derivatives markets. He noted that the CFTC is itself committed to making its own rules and regulations simpler, less cumbersome and less costly for market participants.
In this context, he isolated the CFTC’s positive approach to new derivatives products for crypto assets and other emerging technologies, proposing that:
“We have resisted calls to use our legal powers to suppress the development of crypto-assets. [...] Instead, we have favored close monitoring of market developments while not hindering the introduction of new products like bitcoin futures, which have proven invaluable in letting market forces determine the appropriate value of the bitcoin.”
In regard to his last claim, Giancarlo referenced a May 2018 research paper from the Federal Reserve Bank of San Francisco. The paper hadarguedthat the launch of Bitcoin (BTC) futures trading on two major exchanges, the Chicago Mercantile Exchange and the Chicago Board Options Exchange, had sufficiently deepened the crypto derivatives market to offset one-sided speculative demand and allow for a more balanced correction to inflated valuations.
As Cointelegraph hasreported, Giancarlo has previously suggested that the CFTC’s authorization of Bitcoin futures was consistent with the agency’s agenda to embrace market-based solutions for innovation.
He also proposed that the agency’s creation of its own fintech innovation hub, LabCFTC, was fundamental for keeping pace with the transformative technological change and market evolution heralded byblockchainand cryptocurrencies.
Two of LabCFTC’s fintech educational primers to date have been devoted to crypto and blockchain: on virtual currencies in October 2017 andsmart contractsinNovember 2018.
In December 2018, the labsolicitedpublic and industry comments on the Ethereum (ETH) blockchain as part of itsevaluationof prospectively authorizing Ethereum futures contracts.
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• Austrian Economics Minister: ‘We Do Not Need Regulation for Blockchain’ || Apple Co-Founder Steve Wozniak on Bitcoin: ‘We’ve Seen Massive Value Creation’: Appleco-founderSteve Wozniakdeclared that he thinks “we’ve seen massive value creation” when asked about Bitcoin’s (BTC) potential in an interview with Bloombergpublishedon Feb. 26.
When Bloomberg asked Wozniak if he still expects Bitcoin to become the world’s currency in the future — an idea heexpressedin June last year — after “we’ve seen massive value destruction in Bitcoin,” the entrepreneur countered:
“I’m not sure I can buy that we’ve seen massive value destruction, I think we’ve seen massive value creation.”
Apple’s co-founder then argued that oftentimes psychology drives market dips, with fear in part determining price. Wozniak clarified that he was not interested in Bitcoin “as an investor” and that he “only had Bitcoin to experiment with,” clarifying that he had used the crypto as a form of payment.
Wozniak also noted that he had sold all of his Bitcoin “when it went up high,” reiterating what he hadsaidlast January:
“I don’t want to be one of those people watching the price of Bitcoin, so I sold out.”
The engineer added that he has never invested in any stocks nor used the Apple stock app.
As Cointelegraphreportedin October last year, Steve Wozniak has been announced as a co-founder ofblockchain-focused venture capital fund, EQUI Global.
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[Random Sample of Social Media Buzz (last 60 days)]
Hourly price update (USDT):
• BSV (Bitcoin): $67.80
Dead forks:
• BTC (Blockstream Turd Coin): $3846.00
• BCH (BTrash): $132.35 || 1H
2019/04/13 02:00 (2019/04/13 01:00)
LONG : 24690.5 BTC (+17.95 BTC)
SHORT : 18497.26 BTC (+33.14 BTC)
LS比 : 57% vs 42% (57% vs 42%) || 03/05 12:00現在
#Bitcoin : 413,310円↓
#NEM #XEM : 4.4107円↓
#Monacoin : 134円→
#Ethereum : 13,925円→
#Zaif : 0.1438円→ || Mar 12, 2019 14:31:00 UTC | 3,896.50$ | 3,454.40€ | 2,964.10£ | #Bitcoin #btc pic.twitter.com/L0fHWIf37K || Daily #Roundup: #Paltinum (Nymex) Futures'Apr ↑+0.49% $874.20. Brent #Crude (ICE) Futures'Apr ↓-0.56% $66.02. Bond #Yields 10Y (change): China -1.6 bps, Brazil +7.7 bps. #Gold (spot) ↓-0.41% $1,315.00. $DXY ↑+0.04% 96.15. #Bitcoin (spot) CoinDesk ↑+1.4% $3,836.83. || アークを描く方なら共感して頂けるかと^ ^
気持ちいいーー^ ^
#XBT
#BTC https://t.co/1oiyP2Fohw || 1 #BTC (#Bitcoin) quotes:
$5034.72/$5035.00 #Bitstamp
$5032.13/$5033.00 #Kraken
⇢$-2.87/$-1.72 || ツイート数の多かった仮想通貨
1位 $XRP 1193 Tweets
2位 $BTC 403 Tweets
3位 $TRX 110 Tweets
4位 $ETH 69 Tweets
5位 $ENJ 61 Tweets
2019-02-26 03:00 ～ 2019-02-26 03:59
COINTREND いまTwitterで話題の仮想通貨を探せ！
https://cointrend.jp/ || 2019/03/03 19:00
#Binance 格安コイン
1位 #NPXS 0.00000018 BTC(0.08円)
2位 #BCN 0.00000022 BTC(0.09円)
3位 #BTT 0.00000022 BTC(0.09円)
4位 #DENT 0.00000024 BTC(0.1円)
5位 #HOT 0.00000030 BTC(0.13円)
#仮想通貨 #アルトコイン #草コインhttps://wp.me/p9uE3r-u || How do crypto traders die slower - oh SORRY I mean live longer and eventually get rich! lol Happy Friday and enjoy reading my latest sharing, guys! https://t.co/RKq4SBU5Tr
#Blockchain #Crypto #Bitcoin
|
Trend: no change || Prices: 5235.56, 5251.94, 5298.39, 5303.81, 5337.89, 5314.53, 5399.37, 5572.36, 5464.87, 5210.52
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-05-09]
BTC Price: 1755.36, BTC RSI: 92.63
Gold Price: 1214.30, Gold RSI: 28.99
Oil Price: 45.88, Oil RSI: 30.50
[Random Sample of News (last 60 days)]
This is not normal Lloyd Blankfein on the sleepy state of markets: The U.S. stock market may be a bit too calm right now, Goldman Sachs (NYSE: GS) CEO Lloyd Blankfein said Tuesday. "Every time I get accustomed to low volatility, like we were towards the end of the Greenspan era, and we think we have all the levers under the control ... something erupts to remind us that the idea that anybody is in control of everything is hubris," Blankfein told CNBC's " Power Lunch " from the sidelines of the company's director symposium in Chicago. "I don't know what brings us out of the doldrums, but I do know this is not a normal resting state," he said. The CBOE Volatility Index (STOXX: .VIX) , widely considered the best gauge of fear in the market hit its lowest intraday level since December 2006 on Tuesday. Equities have been on a tear lately. Earlier on Tuesday, the S&P 500 (INDEX: .SPX) and the Nasdaq composite set new all-time highs. That said, stocks have traded in a narrow range for most of 2017. The S&P has only posted moves greater than 1 percent twice this year. "The low volatility may be a bit of a bubble of confidence, but we won't know until we know," Blankfein said. "My own expectation, which I never rely on ... is that we're muddling through. A lot can go wrong, but the base case is that things are going right," he said. Nevertheless, Blankfein believes the banking sector is equipped to deal with any trouble ahead, saying U.S. banks are overcapitalized. Banks have been some of the best-performing stocks over the past year, with the SPDR S&P Bank ETF (KBE) (NYSE Arca: KBE) rising 38 percent in that period. Also watch: Blankfein: US banks are overcapitalized now More From CNBC Bitcoin spikes to fresh record after Fed's Kashkari speaks about blockchain Bet on 'repatriation stocks,' UBS says Fed's George says balance sheet should be trimmed this year || Over 200 Fintech Startup Finalists to Celebrate Worldwide Fintech Innovation at the Benzinga Global Fintech Awards in New York City May 11: Benzinga Announces Finalists for 2017 Benzinga Global Fintech Awards; Over 200 Companies Will Compete at Fintech's Premier Event in New York City May 11 DETROIT, MI / ACCESSWIRE / April 17, 2017 / Benzinga , a leading online financial media publication and data provider, announced today the finalists for the 2017 Benzinga Global Fintech Awards . The Benzinga Global Fintech Awards is the largest fintech event focusing on the capital markets. In its third year, Benzinga has expanded the event's purview to the global stage, bringing over 200 companies to New York City from countries including India, Israel, Poland, and Singapore. The Benzinga Global Fintech Awards finalists were chosen by their peers in a social voting competition. In all, 372 companies applied to the competition, and 225 finalists received over 100,000 votes to advance to the judging round. Finalists will soon enter the judging stage of the Benzinga Global Fintech Awards competition. A judging board of more than 30 leaders in every fintech vertical will rank the finalists in terms of how innovative their products are and their potential to reshape the finance industry. The judging panel includes an " unprecedented " level of fintech talent, such as current and former C-suite executives of financial institutions like Morningstar and Thomson Reuters, as well as many leading investors, VCs, television personalities and financial innovators of all stripes. Firms from DE Shaw and J.P. Morgan to TD Ameritrade and Fidelity are all contributing insight and mentorship to the 225 Benzinga Global Fintech Awards finalists. The Benzinga Global Fintech Awards finalists, by category: Best Use of Alternative Investments Platform, Tool, or App BankerBay CFX Markets ClearVest Advisers, LLC CoolMellon Entrex Equitise Frictionless Healthcare Finance Income& Kettera Strategies Mercury Capital Advisors SAF Platform Seedrs Swaper YieldStreet Best Analysis Platform, Tool, or App Alpha Hat Artivest BondCliQ ChartYourTrade F.A.S.T. Graphs NewsHedge Novus Orchard Platform Polly Portfolio TradingView Web Financial Group Ycharts Story continues Best Digital Mortgage or Real Estate Platform, Tool, or App Brickvest BRICKX BuildFax Cadre Morty Neat Capital Neighborhood Pay Services PeerStreet Quicken Loans / Rocket Mortgage RealtyMogul RealtyShares Unison Home Ownership Investors Best Education & Personal Finance Platform, Tool, or App BillGO Clarity Money Copper Street Dream Forward 401(k) FinTech Business School MoneyLion Shift SmartAsset TradeBench Best Financial Advisor or Wealth Management Platform, Tool, or App Advisor Engine ALBRIDGE Backstop Solutions Group BaseVenture CBOE Vest FUNDBASE LendingCalc Mil Advisor MyVest ORION RobustWealth STRATIFI Truelytics Best Forex Platform, Tool, or App Fortex FXPRIMUS FXStreet Markets.com MarketsFactory.com MobyTrader Remitly TF Global Markets uChange Best InsurTech Platform, Tool, or App Aclaimant Bought By Many Coverfy CoverWallet Embroker FitSense Insureon League Life.io Neuroprofiler Senteri UnBrokerage WeSavvy Best Lending Platform, Tool, or App Bizfi Datanomers Global Debt Registry IdFinance InterNex Capital MYJAR P2Binvestor PayMe Rubique Stilt Suretly Think Money TWINO Best Proprietary Technology or APIs Alpha Exchange Connamara Systems Dataminr Finicity Nomad COnnection OpenFin OptionsCity Overbond Push Payments Quovo Redtail Technology Tradier Xignite Best RegTech Platform, Tool, or App AQMetrics AU10TIX ComplyAdvantage ComplySci Neurensic Qumram Rippleshot ThetaRay Trulioo Trunomi Uniken Best Research Platform, Tool, or App AlphaSense FinanceBoards MackeyRMS OptionMetrics PitchBook Slingshot Insights Sqoop Street Diligence Virtual Cove Best Robo Advisor Betterment Clinc Exeria Gravity Investments Polaris Portfolios Scalable Capital Unicorn Bay Vestwell Ways2Wealth Wealthfront Wealthsimple WiseBanyan Best Trading Execution or Brokerage Platform DriveWealth Fidelity FINVASIA Lime Brokerage (Wedbush) m1 Finance OptionsHouse SelfWealth Sterling Trading Tech StocksToTrade T3 Live TD Ameritrade (AMTD) Best Trading Idea Platform, Tool, or App ADVFN Alpaca BullBoard Chaikin Analytics Equities.com iStockPicker SharingAlpha Stocks For The Week TalkMarkets Ticker.tv TickerTags Trade Ideas Tradespoon Trumid Financial Vest Cycle Vetr Best Under-banked or Emerging Market Solution Amplify Billmo, LLC Eastpesa Limited Elevate FarmDrive Ovamba PayActiv Ping Express WorldRemit Best Use of Blockchain or Bitcoins AlphaPoint Blockchain Brave New Coin I/O Digital Melonport Netcoins Paxos Purse Remitt SecureKey Technologies Finding Alpha AlphaStreet Cindicator Croudify DarcMatter ExtractAlpha Kavout PortfolioEffect Prattle PureFunds RelateTheNews SavaNet Tradagon Visible Alpha Institutional Innovators Bond Price Validation Bridge Financial Technology ChartIQ Cloud9 Technologies Intro-act Marstone, Inc. Opportunity Network Veriday Investing In Millennials Aspiration EZMCOM Inc GRAIN Lean Financial MATADOR Payscape SprinkleBit STASH Leveling the Playing Field CALL LEVELS Capitali.se Click IPO Securities DIY.Fund EnergyFunders finbox.io IEX OptaCredit Fintech Private Limited trigger Solving Problems Through Payments Alipay CHeckbook.io disburze PayKey Payment Rails RenovITe Technologies Inc Sharepay Soundpays Spendesk SWITCH Inc Zebit ZOOZ The Benzinga Global Fintech Awards judges include: Pete Casella, Point72 Ventures Adam Boyden, RPM Ventures Amir Goldman, Susquehanna Growth Equity Partners Yin Luo, Wolfe Research Nathan Richardson, TradeIt David Teten, ff Venture Capital James Altucher Tim Seymour, CNBC Vicki Walia, Alliance-Bernstein Bill Libby, Goldman Sachs (GS) Kim Trautmann, DRW VC Seth Merrin, LiquidNet Steve Lau, WorldQuant Ventures Matt Harris, Bain Capital Ventures Tricia Rothschild, Morningstar Charlie Hartel, Yahoo! Finance (YHOO) Ed Skolarus, Investor's Business Daily Gene Munster, Loup Ventures Ken Scichiano, TA Associates Nicholas Britz, Google Finance Bill Nosal, NASDAQ John Hart, TD Ameritrade (AMTD) Alex Wong, DE Shaw Ventures Kelli Keough, J.P. Morgan Chase Matt Hatch, E&Y Jennifer Samalis, Fidelity David Jegen, F Prime Capital Man Mahjouri, Tradeworx Philip Brittan, Fmr. Thomson Reuters Sue Britton, Fintech Growth Syndicate Jeff Chiapetta, Charles Schwab Sonny Singh, BitPay Media Information: Spencer White [email protected] (for media email inquiries please put "MEDIA" at the beginning of the subject line) 313-723-2000 About Benzinga Global Fintech Awards Designed to uncover the most innovative companies within the financial technology capital markets sector, the Benzinga Fintech Awards provide winning finalists with new opportunities for growth and exposure. For last year's winners, please visit www.benzingafintechawards.com or use the hashtag #BZAwards. About Benzinga Benzinga is a leading originator of actionable financial insights for traders and investors. Benzinga's news desk is constantly breaking stories and moving billions of dollars of market capitalization through its real-time terminal, Benzinga Pro. Benzinga's original content is syndicated to 70 partner websites, such as Yahoo! Inc.'s Yahoo! Finance, Microsoft Corporation's MSN, CNNMoney, Fox Business, Marketwatch, and more. Benzinga is the leading provider of news to the North American brokerage community, with a client list including TD Ameritrade, LightSpeed, TradeKing, and many more. The company is headquartered in downtown Detroit and dedicated to driving Detroit's renaissance. For more information, check out Benzinga.com , Cloud.Benzinga.com , and Pro.Benzinga.com . SOURCE: Benzinga || Only 802 People Told the IRS About Bitcoin—Lawsuit: The Internal Revenue Service revealed new details about itsinvestigationinto tax evasion related to bitcoin, filing court documents that suggest only a tiny percentage of virtual currency owners are reporting profits or losses in their annual returns.
The new documents, filed Thursday in San Francisco federal court, come in the midst of a closely-watched legal fight between the IRS and Coinbase, a popular service for buying and selling bitcoins that hosts over a million customer accounts.
The dispute began last year when the IRS issued a sweepingsummonsfor Coinbase to turn over a vast amount of customer data, including every customer account as well as detailed transaction records.
Coinbase claimed the IRS demands are illegally broad and refused to comply, which in turn led the IRS to file a federal lawsuit last week to enforce the summons.
Jurors Weigh Charges Against a Pastor and Software Engineer in Bitcoin Trial
While the lawsuit did not come as a surprise, a newaffidavitfrom IRS agent David Utzke reveals additional information about how the agency is conducting the investigation. Specifically, Utzke explains he ran a computer analysis against the IRS’s repository of hundreds of millions of tax records, and found fewer than a thousand people filed a Form 8949 to account for a “property description likely related to bitcoin.”
Form 8949 is used to report capital losses and capital gains and, under current IRS rules, would require bitcoin owners to declare their profits. In some cases, the profit could be significant given the virtual currency soared from $13 to over $1,100 during the three year period (2013-2015) for which the agency is seeking information.
Here is a paragraph from Utzke’s affidavit that states only 802 individuals filed a bitcoin-related Form 8949 in 2015(emphasis mine):
The IRS searched the MTRDB for Form 8949 data for tax years 2013 through 2015. I received the results of those searches. Those results reflect thatin 2013, 807 individuals reported a transaction on Form 8949 using a property description likely related to bitcoin; in 2014, 893 individuals reported a transaction on Form 8949 using a property description likely related to bitcoin; and in 2015, 802 individuals reported a transactionon Form 8949 using a property description likely related to bitcoin.
It’s impossible to know what percentage of Coinbase customers these numbers represent, but it’s likely only a small fraction. Even though some Coinbase accounts belong to non-U.S. citizens, and many others did not have any transactions (and therefore did not trigger any capital gains), it’s possible an IRS review of the accounts could identify hundreds of thousands of individuals who should have declared bitcoin income.
In a Fridayblog post, Coinbase said it has yet to turn over any information, and that it would push back against the scope of the summons.
“Coinbase remains concerned with the indiscriminate and over broad scope of the government's summons and we have produced no records under the summons,” wrote Coinbase lawyer, Juan Suarez.
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The company has previously described the IRS probe as unreasonable, noting the agency would not approach other financial institutions like JP Morgan or and demand every single of their customer records.
In January, Coinbase CEO Brian Armstrong complained the legal fight could cost his company up to $1 million, and that he would prefer to spend the money hiring employees. Armstrong at the time also offered an olive branch to the IRS, saying Coinbase is ready to provide customers with 1099-B forms, which are used by brokerages and others to help customers report their taxes.
Following news of the IRS tax probe, onevirtual currency lawyer saidthe agency’s demand simply represented an opening gambit for negotiations--and that it that would end with Coinbase providing a far more narrow set of information.
A person close to Coinbase, who was not authorized to speak for attribution, confirmed toFortunethe company and the IRS have been in talks, but also expressed surprise the agency has so far refused to narrow its demands.
A spokesperson for the IRS said the agency cannot comment on specific investigations.
The upshot of all this is that many Coinbase customers are likely to feel uneasy since the investigation could eventually lead them to owe back taxes or penalties, or even see the IRS seize their accounts.
Bitcoin Prepares For an Ugly Breakup
Meanwhile, Coinbase isn’t the only one taking issue with the IRS’s bitcoin stance. A Los Angeles law firm, Berns Weiss,sued the IRS last year, complaining the agency’s summons swept up one of the firm’s partners, Jeffrey Berns, who held bitcoin at Coinbase, but had never sold it. The firm had to drop the lawsuit after the IRS told Berns he would not be a target of the investigation--but has since vowed to resume the legal battle.
“We will, however, continue our efforts to protect the rights of Coinbase customers regarding this patently overbroad summons. Thus, we plan to file a motion to intervene in the enforcement proceeding on behalf of other Coinbase customers who have contacted us and expressed their interest in fighting the summons,” saidthe firmin a statement.
Finally, it’s unclear if the IRS is also targeting other virtual currency operators. While Coinbase is the most popular and mainstream bitcoin platform, there are numerous others. Meanwhile, thegrowing value of other virtual currencies, including Ethereum, mean firms that offer such currencies could soon find themselves in the cross-hairs of the IRS too.
An earlier version of this story incorrectly referred to the IRS form on one occassion as Form 8948 not 8949. It has been updated.
See original article on Fortune.com
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• Bitcoin Battle Heats Up as Coinbase Moves to Fight IRS Demand
• Legal Sparring Continues in Bitcoin User's Battle with IRS Tax Sweep
• Customer Sues IRS to Halt Probe of Coinbase Bitcoin Accounts || What you need to know on Wall Street right now: Donald Trump (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, is doubling 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 a legendary 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 . The GOP's Obamacare replacement plan got pulled from a vote in the House on 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 trades is rewarding investors that bet against it . Hospital stocks are popping after the demise of "Trumpcare." Wall Street is getting one 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-earners spend their money will make you think differently about "rich" vs "poor." In deal news, Okta priced its IPO and hopes to hit a $2 billion valuation . And Elevate Credit, an online lender that focuses on riskier borrowers, is headed for an initial public offering . And in tech, t he No.1 investment bank advising Snap on its IPO is projecting massive growth for the company . T he YouTube 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 Story continues Lastly, take a look i nside the exclusive New York gym where Hugh 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 Tower is 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 || Sports Fans Score as CONCACAF U-17s Kick Off on Flow Sports and Flow Sports Premier: MIAMI, FL--(Marketwired - Apr 21, 2017) - Flow customers score again as the 2017 Confederation of North, Central America and Caribbean Association Football (CONCACAF) Men's Under-17 World-Cup Qualifiers kick off on Flow Sports and Flow Sports Premier with multiplatform, on-the-go access via the Flow Sports app and website . Earlier this year Flow signed a partnership with CONCACAF to give customers a front row seat at both the Men's U-20 and U-17 championships. The winners of each division will go on to compete in the 2017 FIFA World Cup in India in October. The U-20s wrapped up on March 5 th , while the U-17s are set to take place in Panama from April 21 st to May 7 th . Sports fans can tune into Flow Sports , Flow Sports Premier and Flow 1 (for one game only 1 ) to watch all 25 live matches as twelve (12) teams from the Caribbean, Central America and North America vie to lock down their spot in the U-17 World Cup. Four (4) teams will advance. This year's line-up includes five (5) Caribbean nations -- Haiti, Jamaica, Cuba, Curacao and Suriname. "In keeping with our commitment to deliver high quality, relevant and unmatched Caribbean content, Flow Sports' viewers can look forward to yet another major sporting event to light up their screens," said Garry Sinclair, President of Cable & Wireless Caribbean. "Needless to say, the CONCACAF World Cup qualifier is one of the most important events for emerging Caribbean superstars and, as the Home of Sports in the Caribbean , it's only natural that football fans in the region would look to us to catch the action. We will continue to raise the bar and serve up great content like the CONCACAF championships for football lovers across the Caribbean." Along with the live segments, Flow Sports will also produce a pre-, post- and halftime show for the final on May 7 th . Hosts of the show include former professional footballer and Flow Sports Premier Weekly host Terry Fenwick , along with Trinidad & Tobago's U-17 coach Russell Latapy . Together they'll serve up detailed match discussions and provide fans with an expert perspective on tomorrow's Caribbean football stars. Story continues Commenting on the partnership with Flow, CONCACAF General Secretary Philippe Moggio said, "Ensuring the broadcast reach of our tournaments into the Caribbean has always been a priority for CONCACAF, and this deal with Flow helps us to immediately achieve that." Editor's Note: CONCACAF U-17 BROADCAST SCHEDULE 2017 Match Ups Broadcast Dates Time ECT Station 1 Curacao v Haiti Friday April 21 7:30 PM Flow Sports 2 Panama v Honduras 10:00 PM Flow Sports 3 Cuba v Suriname Saturday April 22 1:30 PM Flow Sports 4 Costa Rica v Canada 4:00 PM Flow Sports 5 Jamaica v USA Sunday April 23 1:30 PM Flow Sports 6 Mexico v El Salvador 4:00 PM Flow Sports 7 Honduras v Curacao Monday April 24 6:00 PM FS Premier 8 Panama v Haiti 8:30 PM Flow Sports 9 Canada v Cuba Tuesday April 25 3:00 PM Flow Sports 10 Costa Rica v Suriname 5:30 PM Flow Sports 11 1 El Salvador v Jamaica Wednesday April 26 4:00 PM Flow 1 12 Mexico v USA 6:30 PM FS Premier 13 Honduras v Haiti Thursday April 27 6:00 PM Flow Sports 14 Panama v Curacao 8:30 PM Flow Sports 15 Canada v Suriname Friday April 28 6:30 PM Flow Sports 16 Costa Rica v Cuba 9:00 PM Flow Sports 17 El Salvador v USA Saturday April 29 11:30 PM FS Premier 18 Mexico v Jamaica 2:00 PM Flow Sports 19 TBD Monday May 1 6:30 PM Flow Sports 20 TBD 9:00 PM Flow Sports 21 TBD Wednesday May 3 4:30 PM Flow Sports 22 TBD 7:00 PM Flow Sports 23 TBD Friday May 5 6:30 PM Flow Sports 24 TBD 9:00 PM Flow Sports 25 TBD Sunday May 7 (FINALS) 4:00 PM Flow Sports About CONCACAF The Confederation of North, Central America and Caribbean Association Football (CONCACAF) is the governing body for soccer in the region, and one of six continental authorities that administer the game along with FIFA. Formed in 1961 from the merger of the Football Confederation of Central America and the Caribbean and the North American Football Confederation, CONCACAF now has 41 member associations, from Canada in the north to Guyana, Suriname and French Guiana on the South American continent. As the administrative body for the region, CONCACAF organizes competitions, offers training courses in technical and administrative aspects of the game, and helps to build football throughout the region. About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( LBTYB ) and ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . || 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.
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• What you need to know on Wall Street right now
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• What you need to know on Wall Street right now || 10 things you need to know before the opening bell: Venezuela protests (Volunteers, members of a primary care response team, huddle together during clashes with security forces at a rally against Venezuela's President Nicolas Maduro in Caracas, Venezuela.Reuters/Carlos Garcia Rawlins) Trump's tax plan is out. Key details from the plan include lowering the corporate tax rate to 15% and reducing the number of personal income tax brackets from seven to three with rates of 35%, 25%, and 10%, respectively. Trump won't 'terminate' NAFTA . A statement from the White House said President Donald Trump told the leaders of Mexico and Canada that he won't "terminate" NAFTA, but that he is looking to renegotiate the trade deal, Reuters says. The Bank of Japan cuts its inflation forecast . The BOJ kept policy on hold, but said it sees inflation of 1.4% in 2017, down from its previous estimate of 1.5% and below its 2% target. The Japanese yen is weaker by 0.3% at 111.35 per dollar. The ECB meets. The European Central Bank is expected to keep policy on hold as the second round of France's presidential election looms on May 7. Traders will be on the lookout for any clues as to when the central bank might taper its bond-buying program. Ahead of the decision, the euro is little changed at 1.0895 against the dollar. Bitcoin is threatening all-time highs. The cryptocurrency trades up 0.9% at $1306 a coin, holding just below its all-time high of $1327.19, which was set on March 10, the day the US Securities and Exchange Commission rejected the Winklevoss ETF. Samsung posts its best quarterly profit in 3 years . The electronics giant shrugged off the Galaxy Note 7 debacle and posted an operating profit of 9.9 trillion won ($8.75 billion), its best in more than 3 years, Reuters says. Weight Watchers has a new CEO . Mindy Grossman, current chief executive of HSN, has been named CEO, Reuters says. Shares of Weight Watchers spiked as much as 13% in after-hours trade on Wednesday following the announcement. Stock markets around the world are mixed . Hong Kong's Hang Seng (+0.5%) paced the gains in Asia and Britain's FTSE (-0.6%) lags in Europe. The S&P 500 is set to open down 0.1% at 2,385. Story continues Earnings reporting is heavy. American Air, Domino's Pizza, Ford, and UPS are among the companies reporting ahead of the opening bell while Alphabet, Amazon, and GoPro highlight the names releasing their quarterly results after markets close. US economic data is moderate. Durable orders and initial claims will be released at 8:30 a.m. ET before pending home sales crosses the wires at 10 a.m. ET. The US 10-year yield is little changed at 2.30%. NOW WATCH: People are outraged by a Pepsi ad starring Kendall Jenner — here's how the company responded More From Business Insider UNVEILED: TRUMP'S TAX PLAN ESPN is laying off 100 employees, including some of its biggest names A coffee expert shares the 6 things every coffee drinker should have || Hertz shares plunge 18% after first-quarter loss nearly doubles Wall Street estimate: Hertz Global ( HTZ ) stock tumbled Tuesday, a day after the car rental company reported a bigger-than-expected earnings loss and revenue that fell below analysts' estimates. Lower rental prices and lower resale value for its used vehicles crimped the earnings report. Shares of the stock closed down more than 14 percent during Tuesday, as investors digested the weak quarterly report and lack of future guidance from management. After the bell on Monday the company reported a first quarter earnings loss, excluding items, of $1.61 per share on sales of $1.92 billion. The Street was anticipating Hertz to post a much smaller loss for the quarter of 91 cents on better sales of $1.94 billion, according to Thomson Reuters. The company's net loss from continuing operations widened to $223 million during the period, from just $52 million a year ago. Hertz also booked an impairment charge of $30 million in the quarter. Hertz will likely continue to struggle to get better resale values for its cars so long as U.S. used-car prices continue to fall, as more and more vehicles return to the market following their leases' end. Used cars and trucks price index Source: U.S. Bureau of Labor Statistics Hertz's vehicle sales volume was up 21 percent year over year, but the value is dropping. The company noted that net depreciation per vehicle was up by 15 percent. "We are placing significant emphasis on fleet quality, the customer experience, brand development and systems transformation," CEO Kathryn Marinello said, attributing the wider losses to increased investments being made in a "turnaround" effort. With the blessing of billionaire investor Carl Icahn , Hertz's biggest shareholder, Marinello recently replaced CEO John Tague. The company has performed more poorly than competitors because Hertz's fleet is particularly outdated with fewer SUVs. And competition is stiffer than ever in the age of Uber and Lyft. As of Tuesday's close, shares of Hertz have fallen more than 63 percent over the past 12 months and are down about 40 percent this year. Story continues HTZ 12-month performance Source: FactSet More From CNBC Apple's former CEO shares the one iPhone feature he'd like to see next Bitcoin spikes to fresh record after Fed's Kashkari speaks about blockchain Bet on 'repatriation stocks,' UBS says || Bitcoin miners have collectively earned more than $2 billion: An interior view of U.S. bitcoin mining company Bitfury's mining farm near Keflavik Bitcoin mining has become a multi-billion dollar industry. Bitcoin miners have collectively earned over $2 billion in revenue since the cryptocurrency was established in 2008, according to an estimate from a new report published by the Cambridge Centre for Alternative Finance. Nearly every way the United incident could have ended differentlyin one flowchart Bitcoin mining is how transactions on the bitcoin network get processed. Transactions in bitcoin are bundled into blocks, and its the job of miners to confirm those blocks are legitimate. This happens when a miner successfully solves a cryptographic puzzle attached to each block, gaining a payout called the block reward. This payout halves every four years; the current reward is 12.5 bitcoins per block, or $15,350 at todays prices. The twist is this: miners must compete with one another with greater computational power to solve the puzzle and win the payout. These incentives have led to a massive increase in complexity and need for computational power. In bitcoins early days, people mined the cryptocurrency on their home computers. Today, server farms of thousands of custom-designed machines around the world compete with one another to solve the puzzle first. Revenues generated by the bitcoin mining sector could be significantly higher, the report says. The estimate only accounts for revenues earned from block rewards and fees paid by bitcoin users for having their transactions processed. It doesnt include revenue from selling mining equipment, or providing cloud mining services, which let subscribers share in block rewards for a fee, without having to operate their own equipment. United Airlines has exposed the moral dilemma behind rewarding customer loyalty Importantly, the estimate doesnt account for capital gains from cashing out of bitcoin strategically, since the researchers assumed block rewards were immediately converted to US dollars. Those gains could be substantial, since bitcoin has been on a historic bull run . Story continues Transaction fees have historically been a small part of miners revenue, but theyve shot up this year as the number of transactions gets closer to the bitcoin networks limit. Users are willing to pay higher fees to ensure their transactions are processed by miners. The question of how to raise the limit is at the heart of the civil war that has divided the bitcoin world. As bitcoin adoption grows, miners are prospering. Read this next: Bitcoins civil war threatens to blow up the cryptocurrency itself Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: Choose your spouse wisely: Life advice for IIM-A grads from the chief of Axis Bank Heres the best way to guess correctly on a multiple choice test || Bitcoin could be on the edge of a cliff: FILE PHOTO - A Bitcoin sign is seen in a window in Toronto, May 8, 2014. REUTERS/Mark Blinch/File Photo (A Bitcoin sign is seen in a window in TorontoThomson Reuters) Let me be clear: I do not trade bitcoin, but I do write about it often. Before going into journalism, I spent my days trading. I learned a lot about technical analysis during that time, and right now, technical analysis spells huge trouble ahead for the cryptocurrency. Let's recap what has been going on in the bitcoin market so far this year. Bitcoin rallied 120% in 2016 and has been the top-performing currency in each of the last two years. It opened 2017 by gaining 20% in the first week before crashing 35% on news that China was going to consider clamping down on trading. Since then, bitcoin has ripped higher by more than 50% even in the face of several pieces of bad news. First, China's biggest bitcoin exchanges said they were going to start charging a 0.2% fee on all transactions (previously there was no fee). This was significant as nearly 100% of bitcoin's trading volume takes places on China's exchanges. Then, China's biggest exchanges said they were going to block withdrawals from trading accounts. But bitcoin kept climbing higher. It put in a record high of $1,327 a coin on March 10 as traders piled in ahead of the US Securities and Exchange Commission's ruling on the Winklevoss twins' bitcoin exchange-traded fund (ETF). The SEC denied the ETF. There are two more SEC rulings on the way, the next being on March 30. Neither one is expected to pass. That ruling sent bitcoin crashing 16% lower, but again it was ultimately resilient in the face of bad news. Prices snapped back up in overnight trade and ended the following session above the previous day's opening price. All of those ups and downs, though, have left the cryptocurrency in a precarious position. Take a look at a bitcoin chart: Bitcoin (Investing.com) The chart pattern appears to be putting in a classic double top pattern. In very simple terms, that's describing those two peaks you see highlighted above. Story continues What the double top does, is give us a clue to where traders will go from buying to selling bitcoin. In order for this pattern to be activated, bitcoin would have to close below the neckline, which appears near the $1,100 level. And while that hasn't happened yet, there is another troubling sign that's popping up on the charts. Bitcoin volume (bitcoinity.org) Bitcoin volume exploded into the end of 2016, but has vanished in 2017. This means that as the price was going up, the drop in volume didn't support the price trend. In other words, there wasn't any conviction behind the move. It appears that the transaction fees implemented by China's biggest exchanges have caused participation to dry up. So where is bitcoin headed? If the cryptocurrency falls below the neckline drawn on the first chart, the charts suggest a trip to the $900 area is likely. That's $300 a coin less than it's current level, or a 25% drop. NOW WATCH: 7 mega-billionaires who made a fortune last year More From Business Insider Bitcoin crashes after the SEC rejects the Winklevoss twins' ETF Bitcoin super spikes to an all-time high Bitcoin makes a big comeback
[Random Sample of Social Media Buzz (last 60 days)]
Bitcoin trading at 1127.00.
Don't miss out on the action! Automate trades with ModoBot.
http://www.ModoBot.com #BTC #Bitcoin || Bitcoin Mais - Bitcoins Grátis - R$ 7.000,00 por Mês http://fb.me/17BBP98a4 || Buy Bitcoin anywhere in the world - $50.00
#Items4Sale
List ur biz at http://blacktradelines.com pic.twitter.com/EknHoPrSl5 || $1547.94 at 07:00 UTC [24h Range: $1505.00 - $1578.97 Volume: 7672 BTC] || $1220.10 #bitfinex;
$1220.99 #GDAX;
$1226.99 #bitstamp;
$1220.96 #btce;
$1220.00 #kraken;
#bitcoin news: http://bit.ly/1VI6Yse || 1 KOBO = 0.00000757 BTC
= 0.0097 USD
= 3.0458 NGN
= 0.1286 ZAR
= 0.9996 KES
#Kobocoin 2017-04-27 06:00 || *Breaking*
Andrew Jackson - Missed Civil War
Girls - #WeWillRise
#Bitcoin - $1,455.00 || Worldcoin (WDC) Release V 03.01.00
https://goo.gl/fzXd4n
@WorldcoinGlobal #worldcoin #wdc #blockchain #cryptocurrency #bitcoin #altcoinpic.twitter.com/YYE5mzRInZ || #Monacoin 13.6円↓[Zaif] 17.19円↑[もなとれ]
#NEM #XEM 5.6746円↑[Zaif]
#Bitcoin 147,320円↑[Zaif]
04/29 05:00
口座開設はこちらで！ https://goo.gl/31dyoO || 1 KOBO = 0.00000901 BTC
= 0.0082 USD
= 2.5830 NGN
= 0.1020 ZAR
= 0.8417 KES
#Kobocoin 2017-03-25 06:00
|
Trend: up || Prices: 1787.13, 1848.57, 1724.24, 1804.91, 1808.91, 1738.43, 1734.45, 1839.09, 1888.65, 1987.71
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2021-08-12]
BTC Price: 44428.29, BTC RSI: 64.34
Gold Price: 1749.00, Gold RSI: 37.00
Oil Price: 69.09, Oil RSI: 45.71
[Random Sample of News (last 60 days)]
KYN Capital Group, Inc. Announces Koinfold Pay Now Accepts Digital Payments from Anywhere in the World: CARSON CITY, NV, Aug. 05, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire KYN Capital Group, Inc. (OTC: KYNC) is pleased to announce the release of https://koinfoldpay.com/ , our all-in-one payment solution for businesses to use and receive Digital Assets as payments. Koinfold Pay accepts cryptocurrency payments from all over the world. You can accept digital asset payments that include bitcoin, Ethereum, Bitcoin Cash, Litecoin and others straight into your account with quick and easy payments. Were looking to be your global payment system, eliminate fraud (no chargebacks or ID theft), and process Fiat Settlements to receive funds directly to your bank account with zero price volatility or risk. We provide a quick, easy and cost-effective way for merchants to receive crypto payments from customers without the risk of volatility exposure. Leveraging our frictionless, blockchain-based payment processing technology, your cryptocurrency will automatically and instantaneously be converted to a fiat currency of your choice and deposited into your bank account. Whether youre a business looking to accept crypto or a freelancer hoping to gain a competitive edge by enabling BTC payments on your invoices, Koinfold Pay enables you to seamlessly receive cryptocurrency payments, securing market share today and for years to come. We are your All-In-One crypto payment solutions eCommerce, online payments, invoicing system all together under Koinfold Pay. Create accounts, and track your balances. Add cryptocurrencies as a payment option for your client's eCommerce sites. Also, your clients can send invoices via email and get paid instantly in the currency of their choice. We look to be one of the leading digital asset payment gateways in the market. Koinfold Pay allows you to receive payments from various cryptocurrencies. This is done straight to your bank account instantly which has been converted into a fiat currency of your choice. Story continues Koinfold Pay can easily be integrated with your website or platform with our REST API integration. Easy and simple to set up. You can instantly reach new markets and a wider target audience who prefer to perform transactions with cryptocurrency. Koinfold Pay is a complete digital assets payment solution that is perfect for any merchant or individual looking to grow their business. Open up your account today. Rick Wilson, CEO of KYN Capital, is very excited about the launch of our first Koinfold product: Koinfold Pay has a huge potential revenue stream for the company. Since our announcement of this payment hub, we have had many inquiries from companies and organizations that are excited about implementing our Koinfold Products into their operations. We look to announce these partnerships in the near future. The Koinfold Exchange application development schedule will be released soon. Thank you for all the positive support for the company. About KYN Capital Group, Inc. KYN Capital Group, Inc. (OTC: KYNC) is a Nevada Corporation. The company has been re-positioned to be a holding company for acquisitions, entertainment, blockchain, crypto-currency and touchless payments. The goal is to combine the expertise of our team members to create a cohesive force, which will carry the company forward in the marketplace. Follow KYN Capital Group, Inc. on Twitter @ https://twitter.com/kyncap Follow Koinfold on Twitter https://www.twitter.com/koinfold https://www.koinfold.com https://koinfoldpay.com/ Safe Harbor Statement Certain statements made in this press release constitute forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. All forward-looking statements speak only as of the date of this press release and the company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release. Contact: KYN Capital Group, Inc. [email protected] || Bitcoin Hits $34,800 as Daily Trading Volume Hits Nine Month Low: BeInCrypto Bitcoin has recovered from its weekly low as it hits a two-week-high, despite daily trading volume plummeting to its lowest levels since October 2020. Bitcoin has managed to recover significant ground following its bearish sentiment earlier in the week. The price reached a new two-week high of $34,800 on Binance . Despite the steady climb in price, on-chain analysis indicates that bitcoins daily trading volume is at its lowest since October 2020, according to Santiment . This story was seen first on BeInCrypto Join our Telegram Group and get trading signals, a free trading course and more stories like this on BeInCrypto View comments || Mexican billionaire Salinas says his banking business may embrace bitcoin: MEXICO CITY, June 27 (Reuters) - Mexican billionaire Ricardo Salinas Pliego said on Sunday his banking business may begin using bitcoin, becoming the country's first bank to start accepting the cryptocurrency.
Salinas, who is ranked as Mexico's third richest man with a family fortune estimated at $15.8 billion by Forbes, is the owner of the large Banco Azteca banking business.
Salinas last year said he had about 10% of his liquid portfolio invested in bitcoin. On Sunday, he said all investors should study cryptocurrency and their future.
"Sure, I recommend the use of #Bitcoin, and me and my bank are working to be the first bank in Mexico to accept #Bitcoin," Salinas said in a tweet.
Bitcoin rallied around 7.5% on Sunday to trade at around $34,500. (Reporting by Diego Ore; Writing by Drazen Jorgic Editing by Sonya Hepinstall) || Money Reimagined: Price Swings Versus the Long Term: Volatility is the defining feature of crypto investing. The past few months – with yet more whipsawed price action creating and then quickly destroying hundreds of billions of dollars in wealth – have provided a reminder of that. But despite these stomach-churning moves, money is flowing into crypto projects like never before. As we discuss below, perhaps it’s because this volatility problem has become a “known known” that investors simply factor into their valuation metrics. One field of projects that has seen a boom is interoperability protocols, which tackle the big problem of getting different blockchains to talk to each other and enable cross-chain asset transfers without relying on a centralized intermediary. In this week’s “Money Reimagined” podcast, Sheila Warren and I talk to two leaders in this space: Denelle Dixon, CEO of the Stellar Development Foundation, and Peng Zhong, CEO of Tendermint, who develops the Cosmos “blockchain of blockchains.” Related: Crypto Long & Short: This Bear Market May Not Last Long Have a listen after reading the newsletter. 50% swings are mere flesh wounds Spring is supposed to be a period of rebirth and growth. Not so in Cryptoland this year. In a direct reversal of its spectacular gains through the winter, bitcoin dropped a painful 52% from its March 20 equinox peak to its summer solstice trough this past Monday. 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. Subscribe to get the full newsletter here . Related: El Salvador’s Bitcoin Fee Problem (and Solutions) Ether had a better first half of the spring, rallying from $1,800 on March 20 to an all-time high of $4,382 on May 11. But then it lost almost all of those gains in the following 40 days. Ether is currently trading at $1,854. Story continues Meanwhile, during the same spring period, non-fungible token (NFT) auctions went from mind-blowing eight-figure digital art sales to a trickle of low-value deals. What does this stark reversal of fortunes portend? A consolidation to a lower base that will allow new buyers to come in and bid prices higher? The start of another 2018-like quiet phase in which prices stagnate for a year or more while crypto developers continue to work on new projects? Or something more ominous, such as legendary short-seller Michael Burry’s warning of the “mother of all crashes” that will see retail investors suffer losses “the size of countries?” I don’t know the answer. If I did … well, you know how the line goes. What I can say is we’ve been served another useful reminder that volatility is an ever-present feature of cryptocurrency markets. Volatility goes with the territory. The development of any highly disruptive technology, especially one that, much like the internet, aspires to achieve global adoption rather than just a niche role in the economy, will breed ups and downs in prices. The good news is that even as prices get walloped, investors with multi-year time horizons seem to be getting more comfortable with this reality and continue to place long-term bets on the industry. Crypto stability is impossible I’ve always thought it unfair that economists dismiss bitcoin as too volatile to ever become a useful medium of exchange. If that’s the case, there will never be an alternative to fiat currencies, as any new monetary technology would have to achieve mass adoption (and price stability) at the very instance of its introduction to society. To be sure, cryptocurrencies lack the compulsion power that governments hold with taxation, which means they must pass through the same “Rogers Adoption Curve” that all new technologies confront. Introduced in Everett Rogers’ 1953 book “Diffusion of Innovations,” the bell curve starts with a small group of innovators , followed by a somewhat larger group of early adopters, who make way for the early majority and late majority occupying the middle and later half of the curve , before it moves to the laggards in the right-hand tail. That process can be relatively smooth for technologies that aren’t directly tied to liquid assets. But if there’s any chance to speculate on the adoption curve’s progress, the prices associated with those assets will inevitably see exaggerated gains and retracements, independently of the progress of the tech itself. Case in point: The late-nineties dot-com bubble and bust, when excitement around the internet’s otherwise truly disruptive potential, pushed prices far ahead of what was then the online industry’s ability to monetize itself. Crypto tech is especially prone to such big swings. For one, as mentioned, it must be very widely adopted to achieve its true impact on the world. That means it’s on an especially long journey to eventual widespread acceptance and the stability that will come with that. Also, the prospective disruption is so vast that many crypto investors assume huge future returns in their investment models. The resultant high valuations in turn attract waves of momentum-driven, FOMO-suffering retail investors who collectively drive excessive price gains that are unsustainable over the medium term. What’s more, that vast disruptive potential inevitably creates a clash with the vested interests of the existing financial system and with their stewards in government. The potential changes pose a challenge to the regulatory framework of the existing financial system, which in turn generates policy risk and encourages people with significant influence to feed negative narratives against the technology in response to its ascendence. It’s no coincidence the spring sell-off was accompanied by a regulatory backlash in China and by criticism of bitcoin’s environmental impact by Tesla CEO Elon Musk and political leaders such as U.S. Sen. Elizabeth Warren. And let’s not forget this past year has also seen unprecedented monetary expansion by central banks, which means inordinate amounts of money poured into speculative assets such as crypto. All these factors ensure that booms, bubbles, busts and bankruptcies are unavoidable at times like this. Invest during the downturn Twice previously, in 2014 and 2018, crypto showed the bursting of a bubble does not signal the failure of the technology itself. As with investors in internet technologies who shrugged off the dot-com era’s ups and downs, diehard crypto investors have been convinced there will continue to be future money-making opportunities if they stick with it. There’s also evidence these lessons have been learned by a new breed of deep-pocketed mainstream institutions. On his “The Breakdown” podcast for CoinDesk on Wednesday , Nathaniel Whittemore listed a slew of major investments by venture capital firms, institutional investors, corporations and celebrity investors in crypto projects. A small sampling: Fox Entertainment investing $100 million into an NFT project; DeFi blockchain Solana raising $314 million; BitDAO’s $230 million; Goldman Sachs partnering with digital asset investment firm Galaxy Digital; BBVA opening bitcoin trading and custody services in Switzerland; State Street’s new cryptocurrency division; Visa and PayPal joining a $300 million fund raised by Blockchain Capital; hardware wallet Ledger’s $380 million raise. And that was before Thursday’s news that venture capital behemoth Andreessen Horowitz had raised a whopping $2.2 billion for its third crypto fund . In a similar vein, during a panel discussion I moderated at a conference hosted by the Association for Digital Asset Market Tuesday, both Thejas Nalval, co-founder and chief investment officer at Parataxis Capital, and Brad Koeppen, head of trading at CMT Digital, cited serious incoming interest in bitcoin from investors with long time horizons, such as family offices and university endowments. These investors are now educated about the volatility, they said, and have figured out how to structure it into their portfolios. The more that “old money” comes in, the more it will – eventually – foster some degree of stability. Also, the availability of futures and more sophisticated derivative products allows these institutions to better hedge risk, which, in turn, tends to moderate price movements over time. Still, the roller coaster continues. If you’re looking for a steady-as-she-goes investment, get yourself some T-bills. For the time being, crypto investing will require a strong stomach. Off the charts: Speaking of volatility The middle of May saw a spike in options volatility – a measure of expectations for price turbulence that determines the cost of buying the kind of price protection that options provide – to very high levels. At-the-money (ATM) one-month volatility surged to 150% on an annualized basis. Then, on May 24, after the measure had eased to 123%, still well above the historical average of about 75%, CoinDesk’s Omkar Godbole spotted an interesting trend. Options traders were taking advantage of the higher prices for their derivatives to offer more puts – an options contract that gives the buyers the right to sell an asset at a given price in the future. This was a sign they were more relaxed about the prospect of turbulence where prices were dropping and they would be on the hook for it. With that past in mind, I thought it would be interesting to look at what happened to volatility in recent days, following the second-leg sell-off in bitcoin that culminated Tuesday in the spot price dropping below $30,000 for the first time since late January. Here’s what CoinDesk Research’s Shuai Hao whipped up for me, using data from Skew. That third-highest peak you see on the right side of the chart is that surge in annualized ATM implied volatility to 150% seen in May. The latest activity shows a smaller spike to around 110% earlier this week, which seems to have quickly subsided back below 100% as the bitcoin price recovered Wednesday and Thursday. So, although we’re still above the 75% average, this suggests that expectations for big price swings haven’t been as drastically affected by the latest price declines as they were in May. It also suggests that options traders who sold those puts back then, while no doubt unhappy the spot price fell as low as it did, aren’t suffering extreme losses. The conversation: Black Swan wars The bitter falling out between influential theorist Nassim Taleb, he of “The Black Swan” fame, and his former colleague Saifedean Ammous, for whom Taleb wrote a foreword to the first edition of Ammous’s “Bitcoin Standard” during a happier time in their relationship, just got worse. That’s because Taleb this week landed a six-page paper in which he explained in highly critical terms why he had gone back on his earlier enthusiasm for bitcoin and now, essentially, considers it useless. Ammous’s response to the paper said it all. Taleb’s attack, in which he essentially argued that bitcoin should be currently priced at zero because of a supposed expectation that at some point in the future there will be no miners mining it, stirred rebuttals from many bitcoiners. Here’s an interesting rhetorical takedown of Taleb’s logic by University of Wyoming philosophy professor Bradley Rettler: But perhaps more intriguing than the predictable backlash from bitcoiners was this critique (and the responses it elicited) from someone with a truly balanced – in parts quite critical – view of bitcoin: Cato Institute monetary historian George Selgin. It’s clear, though, that some people were swayed by Taleb’s argument, and they, too, tended to come from the anti-bitcoin category. Here’s Joe Kelly, whose profile describes him as a “Bitcoin heretic.” Relevant reads: Venture investors As we mentioned up top, there’s been an inordinate amount of long-term investment in crypto from big-name players of late, both in venture deals and in in-house development. It stands in striking contrast to the doldrums in the crypto market. The stories highlighted from CoinDesk here are merely from Thursday, but these kinds of announcements have been coming for weeks. So, earlier in the day, venture capital giant Andreessen Horowitz, also known as a16z, announced it had raised $2.2 billion for its third crypto fund. As Zack Seward reports , the news suggests this is a good time to be raising crypto funds. Shortly after the a16z news, Tanzeel Akhtar reported that Citigroup’s wealth management division had launched a “digital assets group” to service clients “interested in all aspects of the digital asset space” such as cryptocurrencies, non-fungible tokens (NFT), stablecoins and central bank digital currencies. Meanwhile, blockchain forensics firm Chainalysis announced that it had closed yet another $100 million round of financing, this one putting the firm at a valuation of $4.2 billion. As Zack Seward reported , this follows a separate $100 million Series D financing round in May and brings the firm’s total fundraising tally to $365 million. Related Stories Never Break the (Block) Chain: Advancing the Dream of Interoperability Protecting Free Speech With Decentralized Tech || Bitcoin Bulls on a rampage, as Short-Sellers Go Into Hiding: The flagship crypto asset traded above the $39k price levels for the first time in six weeks and is currently trading its sixth consecutive day in the green.
Short sellers are currently on the sidelines, with a record $1.2 billion in shorts liquidated for the day further predict the outlook and momentum forBitcoinis positive.
Bitcoin bulls have continued to hold their grip on the new asset class. Sunday’s current price rise representing the biggest single daily gain since June 16.
On the FTX exchange, the most popular crypto was changing hands for around $38,300, posting daily gains of more 10% but has cooled slightly after hitting a monthly high of around $39,850.
Such massive gains triggered many technical indicators return into bullish sentiments as the flagship crypto reclaimed the 50-day moving average.
Top altcoins posted decent gains with Cardano posting daily gains of more than 11% while Polkadot, XRP, Binance Coin, Dogecoin, Aave, Monero each having increased by more than 7% for the day.
Market sentiments stay high on rumors that Amazon, the world’s biggest e-commerce company is looking to accept the pioneer crypto asset for payments by year’s end and is considering minting its own token next year, further gave Bitcoin Bulls to stay within the striking distance of $40,000.
Giving credence to Amazon’s entry into the crypto-verse dates back to a post on a jobs board looking for a digital lead focused on crypto assets with Twitter’s Jack Dorsey earlier disclosing the micro-blogging platform is planning in future to integrate the world’s most popular crypto asset into their product and service offerings, put Bitcoin bulls within striking distance to hit the $40,000 price band.
At the time of drafting this report, the global crypto market value stood at $1.53 trillion, posting a surge of 9.19% over the last day.
Thisarticlewas originally posted on FX Empire
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• Dogecoin Rallies As Bitcoin Moves Towards $40,000 || Bulls Moves Stall As Neuberger Berman Joins Bitcoin: In spite of the flagship crypto-asset surging nearly 17% for the week,Bitcoinbulls seem to be taking a break.
FTX exchange data shows a significant resistance near $46,500 near the flagship crypto asset. Market indicators anticipate its price will drop if it does not overcome $46,500 resistance.
Over the past 24 hours, the price has stayed above the $45,000 zone and above the 100 hourly simple moving average.
Furthermore, market commentators speculate that the Crypto market might take a breather now. Based on recent price action, it appears that the pioneer crypto asset will consolidate in the $40K-$45K range until late August or early September when it is expected to take decisive action.
The volatility has been trading rich and the upside has been written beyond 50K for August and September.
The extra spending could fuel inflation, encouraging the appeal of bitcoin as a bulwark against the devaluation of dollars. Since the COVID-19 pandemic, several trillion dollars have been created by the Federal Reserve to support the world’s largest economy.
Meanwhile, Neuberger Berman’s commodity-focused mutual fund has been given the green light to invest indirectly in the flagship crypto for the first time.
Listed in Wednesday’s regulatoryfilingsis the $400 billion manager’s Crypto derivatives portfolio, Bitcoin trusts, and exchange-traded funds (ETFs).
As a mutual fund, the fund would be widely accessible to investors. It has been doing well this year as commodity prices have rallied relatively high. By the end of June, it held gold, corn, heating oil, and Brent crude as top holdings.
On the technical side, Glassnode shows the Spent Output Age Bands, demonstrating that on the whole, middle-age coins (between 3 and 12 months), as well as old coins (over one year), are relatively dormant, and are not exiting the market.
These buyers are typically younger and between the ages of 3m to 6m, making up the majority of spending in this cohort. There are transactors who have recently exited or de-risked their businesses towards their cost basis.
On the whole, this metric is fairly bullish since there does not seem to be an acute exit selling trend among old hands.
Thisarticlewas originally posted on FX Empire
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• Investment Strategies for Extremely Volatile Markets || What Is Cryptography?: Cryptography puts the “crypto” in cryptocurrency. It has existed much longer than our digital age and has evolved like languages over the centuries. Cryptography is the science of securing information by transforming it into a form that only intended recipients can process and read. Its first known use dates back to the year 1900 BC as hieroglyphics in an Egyptian tomb. The term itself comes from the Greek words kryptos and graphein , which mean hidden and to write, respectively. One of the most famous uses was developed by Julius Caesar around 40 BC and was aptly named Caesar’s cipher. A cipher uses a secret piece of information that tells you how to scramble and therefore unscramble a message. Caesar used a substitution cipher, where each letter of the alphabet was replaced by a letter in a different fixed position further up or down in the alphabet. For example, the alphabet could be moved five places to the right meaning the letter “A” would now be “F”, “B” would now be “G” and so on. That meant he could pass along messages without fear of them being intercepted, because only his officers knew how to unscramble the message. Related: DeFi Lending: 3 Major Risks to Know Giovan Battista Bellaso, a 16th-century cryptologist, designed the Vigenere cipher (falsely attributed to diplomat Blaise de Vigenere), believed to be the first cipher that used an encryption key. The alphabet was written across 26 rows, with each row shifting a letter to create a grid . The encryption key was written out to match the length of the message. Then, the grid was used to encrypt the message, letter by letter. Finally, the sender shared the encrypted message and the secret keyword to the recipient, who would possess the same grid. Then along came computers, which enabled much more sophisticated cryptography. But the goal remains the same: to transfer a readable message (plain text) into something an unintended reader cannot understand (cipher text). The process is known as encryption and is how information can be shared across public internet connections. The knowledge about how to decrypt – or unscramble – the data is known as the key and only intended parties should have access to this information. Story continues How does cryptography work? There are many ways in which to encrypt information, and the levels of complexity depend on the degree of protection the data may require. But we commonly see three types of cryptographic algorithms. Symmetric encryption Symmetric encryption – or secret-key encryption – relies on a single key. This means that the sender and receiver of data both share the same key, which is then used both to encrypt and decrypt the information. Related: NFT Marketplaces: A Beginner’s Guide To do that, the secret key needs to be agreed upon ahead of time. While still a good source of encryption, the fact that there is only a single key protecting the information means there is some risk when sending it over insecure connections. Just imagine you want to share your front door key with a friend by hiding it under your doormat. Your friend now has access to your house. But there is also a chance a stranger could find the key and enter without your permission. Asymmetric encryption Asymmetric encryption – or public-key encryption – uses a pair of keys . This added level of security instantly increases the protection of the data. In this case, each key serves a single purpose. There is a public key that can be exchanged with anybody, over any network. This key has the information on how to encrypt the data and anyone can use it. But there is also a private key. The private key is not shared and holds the information about how to decrypt the message. Both keys are generated by an algorithm that uses large prime numbers to create two unique, mathematically linked keys. Anyone with access to the public key can use it to encrypt a message, but only the private key holder can decipher the message. It works almost like a mailbox. Anyone can put a message into the deposit slot. But only the owner of the mailbox has the key to open it and read the messages. This is the foundation for most cryptocurrency transactions. Hash functions Hash functions are another way cryptography can secure information. But instead of using keys, it relies on algorithms to turn any data input into a fixed-length string of characters. Hash functions also differ from other forms of encryption because they only work one way, meaning you cannot turn a hash back into its original data. Hashes are essential to blockchain management because they can encrypt large quantities of information without compromising the original data. Having an organized way to structure data not only increases efficiency, but hashes can also act like digital fingerprints for any data that’s been encrypted. This can then be used to verify and secure against any unauthorized modifications during transport through networks. Any changes to the original data would result in a new hash, which would no longer match the original source and therefore would not be verifiable on the blockchain. Digital Signatures A digital signature is another key aspect of ensuring the security, authenticity and integrity of data in a message, software or digital document. As their name suggests, they act similarly to physical signatures and are a unique way to bind your identity to data and therefore act as a way to verify the information. But rather than having a unique character to represent your identity like with physical signatures, digital signatures are based on public-key cryptography. The digital signature comes as code, which is then attached to the data thanks to the two mutually authenticating keys. The sender creates the digital signature by using a private key to encrypt the signature-related data, with the receiver getting the signer’s public key to decrypt the data. This code acts as proof that a message was created by the sender and that it has not been tampered with while being transferred, and it ensures that the sender cannot deny they sent the message. If the recipient is unable to decrypt and read the signed document with the provided public key, it shows there was an issue with the document or signature, and so the document cannot be authenticated. Cryptography and Crypto A large draw of cryptocurrencies is their security and transparency on the blockchain. All of that relies on cryptographic mechanisms. That is how most blockchain-based cryptocurrencies maintain security, and therefore it constitutes the very nature of cryptocurrencies. It was on a cryptography message board back in 2009 that Bitcoin creator Satoshi Nakamoto suggested a way to solve the double-spend problem that had long been the Achilles heel of digital currencies. The double-spend problem occurs when the same unit of crypto has the potential to be spent twice, which would destroy trust in them as an online payment solution and make them essentially worthless. Nakamoto proposed using a peer-to-peer distributed ledger that was timestamped and secured by cryptographic means. That led to the creation of the blockchain as we know it today. As with all technology, cryptography will evolve to keep up with the demands for a secure digital environment. This is especially true with the growing adoption of blockchains and cryptocurrencies across industries and borders. Related Stories ¿Qué es el hashrate y por qué importa? What Is a SPAC? Your Questions Answered || Coinbase Commerce Adds Support for Dogecoin Payments: Coinbase’s e-commerce platform has begun accepting dogecoin payments. Announced on Twitter Wednesday , the integration places DOGE alongside bitcoin , bitcoin cash , ether , litecoin and USDC as one of only a handful of Coinbase Commerce’s supported cryptos. It will add fuel to the resurgent memecoin’s bid for crypto payments. Coinbase Commerce allows online merchants to accept cryptocurrencies. Related: Market Wrap: Bitcoin Climbs as Elon Musk Tames Shorts This year, billionaire Mark Cuban began taking dogecoin for Dallas Mavericks merch. Elon Musk is also accepting dogecoin as launch payment on an upcoming SpaceX mission. Related Stories Elon Musk Says SpaceX Holds Bitcoin at ‘B Word’ Conference S&P Crypto Index Has 243 Coins. DOGE Is Not One of Them Meme Tokens Set for Third Straight Monthly Loss as Retail Traders Flee Dogecoin Copycats || Investment Firm Kryptoin Files for Ether ETF: Kryptoin Investment Advisors filed a proposal with the U.S. Securities and Exchange Commission (SEC) on Thursday for anetherexchange-traded fund (ETF).
• The Delaware-based firm said in its proposal that the Kryptoin Ethereum ETF Trust’s “investment objective” would be “to provide exposure to Ethereum at a price that is reflective of the actual Ethereum market where investors can purchase and sell Ethereum.”
• Kryptoin said the trust “will not purchase or sell ether directly, although the Trustee may sell ether to pay certain expenses. Instead, when it sells or redeems its shares, it will do so in ‘in-kind’ transactions in blocks of 100,000 shares.”
• The SEC hasbeen reviewingKryptoin’s application for abitcoinETF. The companyfirst submitteda bitcoin ETF proposal in October 2019.
• The agency is weighing multiple crypto applications, but none has met muster in the U.S.
• VanEck filed for a similar ETH vehicle inMay.
• Ether Upside Strengthens Relative to Bitcoin
• Bitcoin Revenue in April Represents $3B a Year, ETC Group Says
• Ether Holds Long-Term Support Ahead of All-Time High
• EIP 1559 Hasn’t Affected Ethereum Miner Revenue || Canadian Elite Basketball League Offers BTC as Salary Payment to Players: The Canadian Elite Basketball League (CEBL) has announced that players now have the option to be paid in Bitcoin.
The announcementfrom the CEBL marks the first time that a North American professional sports league to off Bitcoin as an option for salary payments. The news comes after the league recentlypartneredwith Bitbuy, a well-known Canadian cryptocurrency platform. By utilizing the said platform, the CEBL will have the ability to pay players a portion of their salaries in bitcoin.
The league is small, with its third season beginning June 24, but the fact remains they are the first to offer this to players. Players signed to CEBL teams will be able to opt-in and be paid a part of their salary in bitcoin after being converted from Canadian dollars by Bitbuy.
Bestbuy’s Vice President of marketing, Charlie Aikenhead, expressed the company’s enthusiasm for the project. “We’re proud to support home grown Canadian sports, and to partner with the league on this first to the market initiative.” Aikenhead adds that Bitbuy wants to help athletes think about compensation and how to protect their long-term wealth via cryptocurrency.
In the press release by the CEBL, Commissioner and CEO Mike Morreale added that “Our partnership with Bitbuy speaks to our commitment to players, and also to our forward-thinking approach to how we go about our business.” Morreale also claims that his league has some of the best players not signed to NBA contracts who chose the CEBL because of their player-first approach
According to the CEBL, the move wasinspired by the players themselveswho requested that league management looks into crypto payments. Players began voicing their wishes after theNFL’s Russell Okungbecame the first pro player in North America to be paid in bitcoin.
Kimbal Mackenzie, a guard for the CEBL’s Guelph Nighthawks and 2020 sportsmanship award winner, stated that he would be one of the initial group of players to opt-in to the bitcoin program. Mackenzie believes that cryptocurrency is the future and is excited about the new program to begin.
“The ability to have part of my salary go directly into an investment that I believe will appreciate greatly over the next 10-30 years is a no-brainer,” the former Bucknell stand out stated. Mackenzie goes on to state that he has had multiple conversations with numerous players in the league about cryptocurrencies before the official announcement.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 47793.32, 47096.95, 47047.00, 46004.48, 44695.36, 44801.19, 46717.58, 49339.18, 48905.49, 49321.65
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2018-12-10]
BTC Price: 3502.66, BTC RSI: 29.80
Gold Price: 1243.70, Gold RSI: 61.53
Oil Price: 51.00, Oil RSI: 33.42
[Random Sample of News (last 60 days)]
Can Baidu Overcome Trade War Fears When It Reports Earnings?: The past several months haven't been kind to investors in Chinese stocks. The ongoing economic saber-rattling between Washington and Beijing has created an atmosphere of worry that's weighing on companies from the Middle Kingdom. Even Baidu (NASDAQ: BIDU) , China's search leader, hasn't been immune. Though the company crushed earnings expectations last quarter , the combination of trade tensions and the possibility of Alphabet 's Google search unit reentering the Chinese market have helped sink its share price. Baidu stock has lost nearly a third of its value since it peaked in mid-May. The company reports on its third quarter after the market close on Oct 30, and shareholders are hoping that strong results will be enough to pull the stock out of its slump . Let's take a look at the company's results from last quarter and see if they provide any context for the future. Baidu's Silicon Valley AI Lab. Baidu's Silicon Valley AI Lab. Image source: Baidu. A strong showing For the second quarter , Baidu reported revenue of $3.93 billion, an increase of 32% year over year, which surpassed analysts' consensus estimate and landed at the high end of management's guidance. The bottom line was similarly robust, with adjusted earnings per share of $3.18, significantly higher than the $2.44 expected by analysts. In Q2, Baidu delivered on all the metrics that count. Online advertising sales increased 25% year over year, while the number of its digital marketing customers grew 9% to more than 511,000. The company not only added new advertisers, but its customers spent more, as revenue per customer grew 16% to $6,200. Baidu's recently spun-off streaming service iQiyi (NASDAQ: IQ) added $932 million in revenue to Baidu's coffers, a 51% increase over the prior-year period. Content costs grew to $788 million, up 68% year over year, as the company continued to invest in programming for the subsidiary. Baidu still owns a controlling stake in iQiyi, so it will continue to have an impact on its parent's results. Story continues The search giant has been divesting itself of a number of businesses outside its core operations so it can focus its resources on search and a variety of artificial intelligence (AI) technologies, including voice control, real-time translation, facial recognition, and self-driving cars. Escalating trade tensions had already knocked the stock down somewhat from its May highs by the time Baidu reported in late July. The sell-off intensified when rumors surfaced that Google was planning to bring a version of its search product back to mainland China, in a move that would challenge Baidu's dominance in what was a fairly captive ad market. Alphabet has since confirmed that it's testing a censored version of its Google search that could eventually go online in China, if given the go-ahead by officials in Beijing. The company still must deal with protests about the move from its employees, and criticism from Congress about the plan, which some have described as unethical. A hand holding a permit in front of a car and driver. Baidu received permits to test self-driving cars in Beijing. Image source: Baidu. What the quarter could hold For Q3, Baidu has forecast revenue of between 27.37 billion yuan and 28.77 billion yuan, (between $3.94 billion and $4.15 billion at current exchange rates), which would represent year-over-year growth of between 23% and 30% in local currency. It's in the process of selling off a number of non-core businesses -- excluding those from the results, it's anticipating revenue in a range of 26.56 billion yuan to 27.92 billion yuan ($3.83 billion to $4.02 billion), or year-over-year growth of between 26% and 33%. Analysts' consensus estimates call for revenue of $4 billion, up 18% year over year (in dollars), and for earnings per share of $2.43, a decline of 35%. While the potential for increased competition and global affairs to drag on its Baidu's business certainly bear watching, investors will eventually have to return their focus to the company's performance -- which lately has been just fine. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Danny Vena owns shares of Alphabet (A shares), Baidu, and iQiyi. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Baidu. The Motley Fool recommends iQiyi. The Motley Fool has a disclosure policy . || This Dividend Growth Stock Just Keeps on Going: Midstream giant Enterprise Products Partners (NYSE: EPD) recently gave its investors another raise, this time boosting its payout to $0.4325 per quarter. While that was only a 2.4% increase from the year-ago level, it marked the master limited partnership 's 57th consecutive quarterly distribution increase and 66th overall since it went public about 20 years ago. Enterprise Products Partners should have more than enough fuel to continue increasing its payout for the next few years, which is excellent news for investors, since companies that consistently increase their payouts tend to outperform their stingier peers . That has certainly been the case for Enterprise throughout its history, considering that it has generated a total return of more than 1,800%, which has pulverized the nearly 270% total return of the S&P 500 over that time frame. A hand putting a coin on a stack. Image source: Getty Images. Fully fueled While Enterprise Products Partners' recent distribution increases have been relatively modest, that's by design. The company slowed its growth rate last year to give it more cash so that it could internally finance a larger portion of its current slate of growth projects. That helped the company complete $4.4 billion of expansions last year, which have already fueled a 27.7% uptick in cash flow per unit through the first half of 2018 versus the same period last year. Meanwhile, there's more growth on the way. The company completed another $1.1 billion of expansions in the second quarter, which will provide it with a near-term boost. On top of that, it has another $5.7 billion of projects currently under construction, which positions it to continue growing cash flow at a fast pace over the next few years. The company also has several other projects in development as it works to capture its share of the nearly $800 billion midstream infrastructure opportunity . Those expansions should provide it with plenty of cash flow to continue growing its payout for many years to come. Story continues Lots of options going forward Enterprise Products Partners' decision to retain more cash has strengthened its distribution coverage ratio from what was an already solid 1.2 times at this time last year up to 1.5 times through the first half of 2018. That coverage ratio should widen further as additional expansions enter service and the company maintains its modest distribution growth rate through the end of this year. That will make the company's payout even more sustainable over the long term. It's aiming to generate enough excess cash above its dividend so that it can fund a $2.5 billion annual investment program, which it should reach next year. Once it hits that target, the company has several options for the excess cash it will generate above that level, including investing in additional projects, buying back some of its units, or growing its payout at a faster pace. All those options have the potential to create value for investors going forward. One great dividend growth stock Enterprise Products Partners has been a model of consistency over the years, giving its investors a raise each quarter like clockwork. That trend is showing no signs of slowing down since the company has plenty of fuel to continue increasing its payout for at least the next few years. Because of that, the pipeline company could continue outperforming the market in the years to come, making it an excellent stock to consider buying for the long haul. 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 Enterprise Products Partners. The Motley Fool recommends Enterprise Products Partners. The Motley Fool has a disclosure policy . || Crypto Market Loses $6 Billion as Bitcoin Price Retreats to $4,100: In the last 24 hours, more than $6 billion was wiped out of the cryptocurrency market asBitcoin (BTC), the most dominant cryptocurrency in the market, recorded a loss of 8.6 percent from $4,500 to $4,110.
On fiat-to-cryptocurrency exchanges likeCoinbase,Kraken, andBitstamp, the price of BTC reached a new weekly low at around $4,118. Bitcoin has since recovered to $4,291, but on a weekly basis, BTC remains 21.65 percent down against the US dollar.
Similar to Bitcoin’s strength at $6,000 from August to November, despite experiencing an intense sell-off, bears are struggling to bring BTC below the $4,000 support level.
IfBTCcontinues to defend the $4,000 level, in the weeks to come, there exists a possibility for BTC to end 2018 with a positive sentiment, potentially above $6,000 which has now turned into a major resistance level for the dominant cryptocurrency.
One alarming trend of bothBitcoinand other major cryptocurrencies is that the prices of leading digital assets are dropping by relatively large margins with low daily volumes. The volume of BTC is averaging at around $5.1 billion, which suggests that BTC has fallen by more than 3.5 percent in the past 24 hours without significant sell-pressure from bears.
On November 21, Chris Burniske, a Placeholder Management partner,said that the price of BTC has dropped substantiallyin the past ten days due to the low liquidity of the asset and the inability of BTC to defend a strong support level at $6,000.
BTC could establish $4,000 as a potential support level and experience a several-month-long consolidation period throughout the upcoming months. But, to confirm that, BTC would need to demonstrate a high level of stability and low volatility in the low price range of $4,000 to $4,500.
Burniskesaid:
“Ethereum has been through a broader deleveraging from the ICO boom from last year where funds were raised and those funds were used to raise and it’s kind of a cyclical deleveraging. The third thing is Bitcoin was forming support at $6,000 for about 3 to 4 months and there’s a lot of turbulence around a child of Bitcoin called Bitcoin Cash, which has also forked and that has perturbed the markets and broken that technical indicator and so we are searching for a new bottom in crypto land.”
Withinitial coin offering (ICO)projects struggling to find relevance in the space,Ethereum (ETH)is finding it difficult to secure any sort of momentum in its low price range.
In the past 24 hours,ETHhas dropped by more than 6 percent to $124, with a high volume of $2 billion.
Throughout the last six months,ETHhas rarely experienced a surge in its volume over the $1 billion mark. The $2 billion daily volume of the third largest cryptocurrency in the global market demonstrates increasing sell-pressure from individual sellers and ICOs.
Featured Image from Shutterstock. Charts fromTradingView.
The postCrypto Market Loses $6 Billion as Bitcoin Price Retreats to $4,100appeared first onCCN. || Claim: Crypto Exchange Lost $500,000 Due to AurumCoin 51% Attack: crypto exchange 51% attack A little-known cryptocurrency called AurumCoin (AU) has claimed that it was hit by 51 percent attack, and crypto exchange Cryptopia , where the cryptocurrency is listed, lost 15,752.26 AU (approx. $550,000 at the time of writing this article). However, the cryptocurrency has shifted the blame on Cryptopia. On AurumCoin’s website, it has claimed that it is not responsible to anyone since it is an open-source distributed currency. Cryptopia, on the other hand, has not yet acknowledged any loss. AurumCoin Claims to Have Suffered 51 Percent Attack AurumCoin (AU) is purportedly a gold-backed cryptocurrency, where each token is pegged to the value of pure 24K gold. AurumCoin claims to back each AU with 0.75 grams of gold stored in secure vaults worldwide. It has been running its own blockchain since 2014, where AU is mineable (despite its supposed gold peg) with a hard cap of 300,000 coins. Also, the price of AU has not seen any stability that would expected out of a truly gold-backed cryptocurrency. AurumCoin (AU) is currently priced at $35.01, up by 72 percent in the last 24 hours. In the past week alone, AU shot up by nearly 400 percent from $9.50 to its current price. What is a 51 Percent attack? crypto exchange double spend attack A 51 percent attack is when a hacker is able to take control over a crypto network with more than 51 percent of its hash rate. It would give them the authority to control transactions, including stopping new transactions, reversing transactions and double spending coins. It has been demonstrated in the past how easy it is to perform a 51 percent attack on small cryptocurrencies. With a market cap of just $10 million, AurumCoin was an easy target. The hacker sent 15,752.26 AU to Cryptopia and sold it for a different cryptocurrency. Once the transaction was done, the hacker allegedly used their superior hash power to reverse the transaction, as though it never happened. Based out of New Zealand, Cryptopia is a popular cryptocurrency exchange known for listing a variety of small-cap coins like these. Story continues AurumCoin Shifts Blame On Cryptopia Although Cryptopia has not acknowledged the attack, AurumCoin published the following statement on top of their website: “Aurum coin (AU) network was hacked (51 percent attack), a total of 15,752.26 AU is missing from Cryptopia’s wallet (cryptopia.co.nz exchange). Aurum coin network is not the responsibility of anyone, same as bitcoin network, it is an open source distributed crypto currency. What’s worse is that cryptopia exchange do not admit it. This is not the way to solve this problem.” It is not clear what AurumCoin expects Cryptopia to do. It has constantly insisted that Cryptopia was hacked. However, the fact is, AurumCoin lacked the hash rate to prevent a 51 percent attack which resulted in Cryptopia losing over half a million dollars. Recently, Bittrex delisted Bitcoin Gold after losing some funds due to a similar 51 percent attack. Editor’s Note: CCN has reached out to Cryptopia for confirmation on whether it lost funds as the result of a double spend attack. According to the exchange’s website, no AU trades have been processed since early October, when the token’s markets were halted for an “infrastructure upgrade.” Featured Image from Shutterstock The post Claim: Crypto Exchange Lost $500,000 Due to AurumCoin 51% Attack appeared first on CCN . || Why bitcoin may become virtually worthless: Finance professor: The world’s largest cryptocurrency is beginning to wind down and is close to becoming worthless, according to a Santa Clara University finance professor. Bitcoin soared above $19,000 at its peak a year ago, only to fall sharply. It’s currently hovering around $3,600 level, according to Coindesk . “Fundamentally bitcoin has not lived up to its hype,” Atulya Sarin said to FOX Business’ Stuart Varney on Thursday. “Primarily if you look up all the activity around bitcoin it’s mostly around creating. It doesn’t seem to have too many use cases.” Unlike paper money, which is backed by a central bank which decides when to print and distribute money, bitcoin is issued through mining which uses computational power to maintain a record of who owns the cryptocurrency. Without it, no transactions would be possible. Sarin said right now the problem is that it costs more to mine bitcoin than to actually own it -- and “that’s not sustainable.” “If there is no transaction happening and there’s no record of who owns what then all you have is a set of numbers and all those numbers are worthless,” he said. Investors aren't the only major hurdle for bitcoin and other cryptocurrencies ; they also face pressure from regulators looking into potential market manipulation. Related Articles US leaders react to Huawei CFO arrest: 'A threat to our national security' Stocks stage comeback, Nasdaq rises after wild ride GM CEO had no choice but to close US facilities: Bob Nardelli || Bitcoin Hits New Lows, SEC Delays ETF Ruling: The cryptocurrency market finished another disastrous week on a low note on Friday, with most major currencies trading down more than 5 percent on the day. Heres a look at some of the headlines that were moving the cryptocurrency market this week and which currencies were on the move. Headlines The cryptocurrency sell-off continued this week , with bitcoin briefly falling below $3,300 for the first time in 15 months. Cryptocurrencies once again missed out on an opportunity to prove they can be a safe store of value during periods of volatility in the stock market. This weeks sell-off continues the bearish momentum for cryptocurrencies that began in November and was exacerbated by a contentious and confusing hard fork in Bitcoin Cash. On Thursday , the U.S. Securities and Exchange Commission once again delayed a ruling on approving the first bitcoin ETF for listing on a major U.S. exchange. The SEC has repeatedly rejected cryptocurrency ETFs citing concerns over market liquidity and investor safety, and it now has until Feb. 27 to rule on VanEcks latest bitcoin ETF proposal. On Thursday, Congress introduced two new bipartisan House bills aimed at stricter regulations for cryptocurrency markets. The bills are designed at reducing cryptocurrency market manipulation and fraud and keeping the U.S. a leader in cryptocurrency technology. On Friday, the National Police Agency of Japan reported that, through the end of October, it has recorded 5,944 reports of suspicious cryptocurrency transactions in 2018, up from just 699 total reports from April to December of 2017. The suspicious activity includes potential use of cryptocurrency for money laundering and tax evasion. Price Action The Bitcoin Investment Trust (OTC: GBTC ) traded at $4.10, down 22.1 percent for the week. Heres how several top crypto investments fared this week. Prices are as of 3:30 p.m. ET and reflect the previous seven days. Bitcoin declined 13.5 percent to $3,474; XRP declined 14.9 percent to 30 cents; Ethereum declined 16.3 percent to $94; Stellar declined 27.4 percent to 11 cents. Bitcoin Cash declined 38.1 percent to $107; Story continues The three cryptocurrencies with at least $1-million market caps that have made the biggest gains over the past seven days are: Tittiecoin: $1.3-million market cap, 1,235-percent gain. Lightpaycoin: $2.3-million market cap, 94.7-percent gain. GoldCoin: $1.1-million market cap, 91.9-percent gain. The three cryptocurrencies hit hardest in the past seven days were: Experience Points: $1.9-million market cap, 60-percent decline. Semux: $1.6-million market cap, 40.7-percent decline. EOS: $1.6-billion market cap, 38.3-percent decline. Related Links: This Week In Cryptocurrency: DoJ Investigates Tether, Crypto Hacker Steals M A Bitcoin Bull Says The Selling May Not Be Over See more from Benzinga A Bitcoin Bull Says The Selling May Not Be Over This Week In Cryptocurrency: DoJ Investigates Tether, Crypto Hacker Steals M With Tether In Focus, The DoJ Is Investigating Last Year's Cryptomania © 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Next Big Crypto Market? Cash is Rapidly Disappearing in Sweden: Half of Sweden’s retailers predict that the country will stop accepting cash by the end of 2025, the New York Timesreported. Sveriges Riksbank, the central bank of the country, is already testing a digital currency called the e-krona. Could the declining usage of cash in Sweden lead to a potent market for crypto?
Commercial banks, businesses, and individuals inSwedenare preparing for the creation of a completely cashless society within the next decade.
Stefan Ingves, the governor of Riksbank,said:
“When you are where we are, it would be wrong to sit back with our arms crossed, doing nothing, and then just take note of the fact that cash has disappeared. You can’t turn back time, but you do have to find a way to deal with change.”
The country and its government are well aware that cash is disappearing from society and the trend is irreversible. The inefficiency of cash has led the majority of the businesses and individuals in the region to switch to digital alternatives.
A few thousand people went as far as to implant microchips in their hands to pay for food and transportation with a gesture.
The declining usage of cash in Sweden represents a positive trend that the government has encouraged for many years. But, local authorities did not expect the general population to move on from cash to more practical alternatives at such a rapid rate.
Mats Dillén, the head of a Swedish Parliament committee,toldthe New York Times that the disappearance of cash from the society will inevitably cause major implications for the economy and the country has to be ready for what comes next.
“We need to pause and think about whether this is good or bad, and not just sit back and let it happen If cash disappears, that would be a big change, with major implications for society and the economy.”
Countries in Asia including Japan, South Korea, and China are undergoing a similar trend. China, in particular, has seen a surge in the usage of digital payment networks as a growing number of individuals have started to rely on mobile applications like AliPay, which is now valued at over $150 billion, to pay for necessities and receive monthly compensation from companies.
The declining usage of cash in Japan and South Korea has naturally translated to an increase in demand for decentralized currencies likeBitcoinandEthereum.
The two countries became the second and third largest cryptocurrency markets in the world behind the U.S., with large-scale cryptocurrency exchanges likeUpbit,Bithumb, andbitFlyerdominating the global digital asset market.
Sweden remains a relatively small market for crypto, possibly because centralized payment networks are more efficient and practical for daily use. Merchant adoption remains as one of the weaknesses of decentralized currencies and centralized alternatives are still easier to utilize to deal with both offline and online merchants.
As cryptocurrency secures mainstream awareness and eventually adoption, Sweden could become a prime market for cryptocurrency users and investors, if supported by the government and favorable regulations.
Featured image from Shutterstock.
The postNext Big Crypto Market? Cash is Rapidly Disappearing in Swedenappeared first onCCN. || Crypto Markets See Ongoing Mild Losses, Bitcoin Trades Below $6,400: Friday, Nov. 9: crypto markets are continuing to see downward momentum, with virtually all of the major cryptocurrencies at least mildly in the red, as data from Coin360 shows. Market visualization Market visualization by Coin360 Bitcoin ( BTC ) is down just over 1 percent, trading around $6,340 at press time. After a period of protracted stability , the top coin has seen a short-lived burst of price action of late, growing Nov.7 to break above the $6,500 mark. Bitcoin has since corrected downard to trade close to the start of its weekly chart, where it is seeing virtually no price percentage change to press time. On the month, Bitcoin is down a mild 3.6 percent. Bitcoin 7-day price chart Bitcoin 7-day price chart. Source: Cointelegraph Bitcoin Price Index Bitcoin pioneer Jeff Garzik – reportedly the “third-biggest contributor” to Bitcoin’s code and one of Bitcoin creator Satoshi Nakamoto's key collaborators – gave an interview today in which he reflected that: “[Bitcoin] hasn’t evolved in the direction of high-volume payments, which is something we thought about in the very early days: getting merchants to accept Bitcoins. But on the store-of-value side it’s unquestionably a success." The market’s largest altcoin Ethereum ( ETH ) has also sustained a fractional loss, down just over percent to trade at $211. Correlating with Bitcoin, the altcoin saw an intra-week spike at around $220 Nov. 7, and has since jaggedly shed value down to its current price point. Nonetheless, on the week, the asset remains a strong 6 percent in the green, with monthly losses at around 7.2 percent. Ethereum 7-day price chart Ethereum 7-day price chart. Source: Cointelegraph Ethereum Price Index Most of the remaining top ten coins on CoinMarketCap are in the red, although remaining within a 1-4 percent range. Bitcoin Cash ( BCH ) has taken the heftiest hit among the top ten, down just under 4 percent to trade around $567, as controversies ahead of its forthcoming hard fork – scheduled for Nov. 15 – continue to divide the community. Story continues Another top ten alt shaken by larger-than-average losses is Cardano ( ADA ), down 3.19 percent at $0.074. Altcoins Ripple ( XRP ) and Stellar ( XLM ) are the only top ten coins in the green by press time, both up under 1 percent over the past 24 hours. The top twenty coins by market cap are likewise almost unanimously red, with the exception of the 19th largest crypto, privacy-focused alt Zcash ( ZEC ), which is pushing 3.5 percent growth to trade at around $133. For the remaining coins, losses are capped below 4 percent, with Vechain ( VEC ) and DASH ( DASH ) each on the higher end, down 3.9 and 3.47 percent respectively. Total market capitalization of all cryptocurrencies is around $212.5 billion as of press time, down from an intra-week high of around $220.7 billion Nov. 7, but above the $207-210 billion levels it held throughout much of the past month. 7-day chart of the total market capitalization of all cryptocurrencies 7-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap In other major crypto news of the day, ConsenSys -backed blockchain startup Kaleido and Amazon Web Services (AWS) have launched a full-stack platform that helps enterprises implement blockchain solutions without starting from scratch. The platform, dubbed Kaleido Marketplace, reportedly “eliminates 80 percent of the custom code” needed to build a given blockchain project. In Asia, Thailand’s securities regulator is set to clear “at least one” Initial Coin Offering ( ICO ) “portal” to operate legally this month, with officials saying that ICOs themselves “might” start being approved as soon as December. Related Articles: Crypto Markets See Widespread Wave of Green, Bitcoin Pushes $6,500 Crypto Markets Placid on 10th Anniversary of Bitcoin Whitepaper Crypto Markets See Mixed Signals After Recent Downturn Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, Nov. 9 || Bitcoin Sees New Price Support From 7-Year-Long Rising Trendline: With the number of strong support levels increasing for bitcoin (BTC), the bitcoin bears are facing an uphill battle.
The latest addition to the list is the support of the trendline connecting the November 2011 and August 2016 lows, currently at $5,830. Up to Oct. 31, the two key support levels were the 21-month EMA and the trendline drawn between the June and August lows.
In particular, the21-month EMAwas the level to beat for the bears till last month, meaning a close below that support would likely have revived the sell-off from the record high of $20,000 seen last December.
Winklevoss Brothers Sue Charlie Shrem Over $32 Million in Bitcoin
While the 21-month EMA still remains a crucial support, the new make-or-break level is the seven-year-long rising trendline.
That's because the trendline support, which was located around $5,300 last month, has now moved closer to the current price and is seen rising above $6,300 in December. Hence, it may now be incorrect to call a break below the 21-month EMA a sign of a bear revival.
At press time, BTC is changing hands at $6,330 on Bitstamp, representing a 0.5 percent drop on a 24-hour basis.
Apps for Kik's Crypto Are Beginning to Appear on Apple and Google Stores
On the monthly chart, a break below the trendline support of $5,830 would strengthen the bear grip and allow a drop to the psychological support of $5,000.
The bulls, however, would feel emboldened if the cryptocurrency produces a strong bounce off that key support.
As for the next 24 hours, investors should keep an eye on the symmetrical triangle seen in the chart below.
The upper edge of the symmetrical triangle, currently at $6,400, is proving a tough nut to crack on the daily chart. A break above that level would put the bulls in a commanding position, opening the doors for a rally to $6,756 (Oct. 15 high).
• The 7-year-long-rising trendline is the new level to beat for the bears.
• A symmetrical triangle breakout, if confirmed, could yield a re-test of Oct. 15 highs above $6,750. On the other hand, a downside break would expose the Oct. 11 low of $6,055.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Bitcoin image via Shutterstock; charts byÂTrading ViewÂ
• 'Ruff' Month? Dogecoin's Price Slid 36 Percent in October
• Tether Produces Letter Vouching for Dollar Deposits, But Bank Hedges || The Full Guide to Day Trading Using MetaTrader 5 (MT5): Now that you’ve decided that day trading is the right trading style for you, you need to be sure you’re trading in the best trading environment. All you need is a reliable, robust, and fast trading platform, like MetaTrader 5 (MT5). Through its official website, the currencies, indices, stocks and commodities broker LBLV offers its clients a better way to trade the financial markets through robust trading platforms like MT5. The goal of a day trader is to profit from intraday movements of trends on different financial assets with trading positions being open from a few minutes to a few hours – so timing is everything! Consequently, being a successful day trader requires a powerful trading platform with advanced trading functions – mathematical, technical, as well as fundamental analysis tools to determine better entry and exit points and achieve more precise timing. How to Start Trading with MetaTrader 5 (MT5) Day traders love to use the multi-asset platform MetaTrader 5, as it’s “the fastest, efficient and cost-effective trading platforms in the world” allowing them to trade in the best trading conditions. With reliable and secure brokers, like the licensed LBLV broker, you can open a demo account on MT5 following a few simple steps, allowing you to discover the trading platform and its unique features. Once on the platform, you’ll see all the key elements of the simple and user-friendly interface to facilitate your daily trading routine. {alt} All commands are accessible from the main menu bar, which includes the following tabs: file, view, insert, charts, option, and help. These functions help you to settle your charts with indicators, other analytical tools, and various platform settings to create your own personalized trading environment. Below the main menu, you can find different built-in toolbars that will duplicate some of the commands and functions you can find in the main menu. The toolbars are customizable, allowing you to change chart timeframes, chart types (line chart, bar chart, candle chart…) and more. Story continues On the left of the chart, you can also see the Market Watch section, where prices of selected financial assets such as EUR/USD, GBP/USD, gold and crude oil are displayed. This section can also provide other information, such as details and specifications of financial contracts, as well as one-click trading options. Below your chart(s), you’ll find a toolbox section where you can follow the evolution of your open trading positions, as well as your pending trading orders, and modify them when needed (stop-loss, take-profit, limit prices, etc.). This multifunctional window can also be used to access other information that can be useful to your trading, such as account history, alerts, news, internal mailbox, expert journals, and much more. Easy, right? As you can see, MetaTrader 5 interface is quite simple to use and provides all necessary trading tools and information to start trading the markets. There are different menus, toolbars, as well as service windows within a single highly customizable and convenient user interface that will simplify your trading. Do you want to place your first order? It’s easy! Follow these simple steps. 1) Once you’ve selected your financial instrument, right click on it in the Market Watch window. 2) Select “New Order”. {alt} 3) Then, decide which type of order you want to execute: a pending order or an instant or market order. Instant order If you select an instant order, you need to determine: the size of your position (volume), the levels of your stop-loss and take-profit. Then, click on “Sell” or “Buy” depending on your preferred scenario and your order will be processed at the next available price. {alt} Pending order If you select a pending order, you need to determine: the type of order you want to place (Buy/Sell limit, Buy/Sell stop, Buy stop/Sell stop limit), the price at which you want your order to be placed, the size of your position (volume), the levels of your stop-loss and take-profit. Then, click on “Place”. {alt} As soon as your order has been executed, it will appear at the bottom of your interface. Are You Into Automated Trading Or Copy-Trading? Not a problem! MetaTrader 5 (MT5) has all the features you need! LBLV describes MT5 as a “multi-asset platform offering exceptional trading possibilities and technical analysis tools, as well as enabling the use of automated trading systems (trading robots) and copy trading”. So, this all-in-one platform for trading the currency, stock and futures markets can also be used by day traders who like to automate their trading strategies, or who prefer to duplicate trading strategies from the most successful traders around the world. Day Trading Using MetaTrader 5 (MT5) As you’ve seen, MT5 is a great trading platform for day traders who want to take their trading to the next level. Before you start using it, be sure to fully understand how it works and how you can customize your MT5 trading environment to improve your trading process. A few things to consider: Only trade with money you can afford to lose – as trading is a very risky – but rewarding, activity – you want to be sure that you’re only trading with money you do not need to live. Constantly work on your financial & economical knowledge – as understanding how financial markets and trading work is essential in your success. Apply a consistent trading strategy & respect money management rules – as you can’t make money if you don’t implement a trading routine, follow your trading method and respect your money management parameters. This article was originally posted on FX Empire More From FXEMPIRE: S&P 500 Price Forecast – stock markets crash again One, Two, Three, Go – The Nagezeni’s Race on Lambo Started! E-mini Dow Jones Industrial Average (YM) Futures Analysis – Into Close: Strengthens Over 24518, Weakens Under 24302 Gold Price Futures (GC) Technical Analysis – Into Close: Strengthens Over $1248.50, Weakens Under $1245.00 Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 07/12/18 EUR/USD Price Forecast – EUR/USD Trades Range Bound On Last Trading Session Of The Week
[Random Sample of Social Media Buzz (last 60 days)]
Is he implying that ensured schsisms and forks are a bad thing?
I can't figure it out.
Are you proclaiming your support for only consensus approved changes Vin?
Are you trying to say Bitcoin shouldn't change under contest and that schisms are bad? || #LIZA #LAMBO price
11-16 09:00(GMT)
$LIZA
BTC :0.00000
ETH :0.00000
USD :0.0
RUR :0.0
JPY(btc) :0.0
JPY(eth) :0.0
$LAMBO
BTC :0.006
ETH :0.124
USD :30.0
RUR :1970.0
JPY(btc) :3836.4
JPY(eth) :2483.6 || Aumento de 10% no valor do Bitcoin é o maior desde abril deste ano. http://ow.ly/kbIs30mNqpG || 2018/12/08 11:00
#Binance 格安コイン
1位 #HOT 0.00000014 BTC(0.05円)
2位 #NPXS 0.00000015 BTC(0.06円)
3位 #BCN 0.00000022 BTC(0.09円)
4位 #DENT 0.00000027 BTC(0.1円)
5位 #NCASH 0.00000052 BTC(0.2円)
#仮想通貨 #アルトコイン #草コイン || SOLD [ #XRPBTC | #bitfinex | Price: 0.00006936 | Time: 2018-10-23 20:00:57] Wallet: 0.06525941 | %: 0.1336 | Total: 0.79% | Total Won: 0.00050929 | B-S T: 00:12 | Uptime: 01:18 | TP | 2 | #BTC #XRP #trading #bitcoin || Bitcoin, Ripple, Ethereum, Bitcoin Cash, Stellar, EOS, Litecoin, Cardano, Monero, TRON: Price Analysis,
https://buff.ly/2PWUoJB pic.twitter.com/dQVQCMcRq7 || 24H
2018/12/05 17:00 (2018/12/04 16:59)
LONG : 27932.45 BTC (+1232.16 BTC)
SHORT : 36467.54 BTC (+1096.03 BTC)
LS比 : 43% vs 56% (43% vs 56%) || Total Market Cap: $210,981,255,224
1 BTC: $6,523.03
BTC Dominance: 53.59%
Update Time: 21-10-2018 - 19:00:05 (GMT+3) || 最も安くBTC/JPYを買えるのは？(2018-12-03 04:00:04 現在)
Zaif 464960.00
Liquid 466331.00
bitFlyer 466796.00
BITPoint 467148.18
bitbank 467378.00
coincheck 467400.00 || He is a smart guy.
Let’s hope he can live to see bitcoin hit 100k @PeterLBrandt
|
Trend: up || Prices: 3424.59, 3486.95, 3313.68, 3242.48, 3236.76, 3252.84, 3545.86, 3696.06, 3745.95, 4134.44
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on 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 2021-02-01]
BTC Price: 33537.18, BTC RSI: 51.48
Gold Price: 1860.80, Gold RSI: 50.32
Oil Price: 53.55, Oil RSI: 65.68
[Random Sample of News (last 60 days)]
CEO of Bitcoin Mining Startup Layer1 Resigns in Settlement, Replaced by Ex-President: The co-founder and CEO of bitcoin mining startup Layer1 Technologies, Alex Leigl, has resigned as part of a settlement between the firm’s founders, according to a press release sent to shareholders and shared with CoinDesk.
Another co-founder, former President Jakov Dolic has rejoined the company as CEO and board chairman. The settlement includes the discontinuance of all legal proceedings and demands, the company said.
Founded in June 2019, the young company has fought controversy and legal battles for much of 2020. Dolic’s legal disputes originated when he sued Layer1 after claiming he invested millions of dollars and then was forced to leave the company, as CoinDesk previouslyreported.
Related:Riot to Test Immersion Cooling Bitcoin Mining Technology in Texas
Shortly after Dolic withdrew his lawsuit in November, Leigl filed a countersuit against Dolic and fellow shareholder Ivan Kirillov for malicious prosecution and shareholder misconduct.
Under Leigl, Layer1 also reportedlymisdescribedthe role of Liu Xiangfu, co-founder of Chinesebitcoinminer manufacturer Canaan and supposedly a core Layer1 team member, in an investor pitch deck.
Per the press release, Dolic and Liegl jointly stated, “Layer1 has a strong foundation for future growth, including mining operations with a capacity of 100MW, which the company will be expanding, and proprietary containerized solutions that will continue to drive Layer1’s operations.”
Leigl leaves the company just weeks after being named to Forbes 30 Under 30 list for 2021.
• CEO of Bitcoin Mining Startup Layer1 Resigns in Settlement, Replaced by Ex-President
• CEO of Bitcoin Mining Startup Layer1 Resigns in Settlement, Replaced by Ex-President
• CEO of Bitcoin Mining Startup Layer1 Resigns in Settlement, Replaced by Ex-President || SoFi Merging With Palihapitiya-Backed IPOE SPAC: Fintech company SoFi is going public via one of the most well-known names in the SPAC community.
The SPAC Deal:SoFIannounceda SPAC merger withSocial Capital Hedosophia Holdings V(NYSE:IPOE), led by Chamath Palihapitiya.
The merger values SoFi at an equity value of $8.65 billion post-money. SoFi will receive $2.4 billion in cash proceeds, including a $1.2 billion PIPE led by Palihapitiya. SoFi is being valued with an enterprise value of $6.5 billion.
Palihapitiya and SoFi CEO Anthony Noto have known each other for over 10 years. The duo discussed the deal in an appearance on CNBC’s “Halftime Report."
“He’s completely money in the bank,” Palihapitiya said.
The deal was done with Social Capital and Palihapitiya due to their experience with SPACs, according to Noto.
“They’ve done this a number of times, they’re very experienced,” Noto said.
SoFi chose to go public via a SPAC due to the ability to educate investors more affordably throughout the merger process compared to the traditional IPO route.
Related Link:Chamath Palihapitiya’s IPOD, IPOE, IPOF SPACs: What Investors Should Know
About SoFi:The company’s mission is the help people achieve financial independence by getting their money right. SoFi offers a wide range of services that include loan refinancing, mortgages, personal loans, credit cards, insurance, investing and deposit accounts.
SoFi also owns and operates Galileo, one of the leading technology infrastructure services that helps power the back-end of several of the fastest growing financial services providers.
Galileo has around 50 million accounts on its platform. Palihapitiyapointed outthat Galileo customers include Robinhood, Chime, Dave.com and MoneyLion. The enterprise banking infrastructure platform is called “The AWS of fintech” by Palihapitiya.
Noto has experience working with companies likeGoldman Sachs(NYSE:GS),Twitter(NASDAQ:TWTR) and the National Football League.
Financials:SoFi had 1.8 million customers last year and said it's forecasting to hit 3 million in 2021, representing year-over-year growth of 66%.
Revenue for SoFi was $200 million in the recent third quarter. Fiscal 2020 revenue is estimated to hit $621 million.
The company sees fiscal 2021 revenue hitting $980 million, representing year-over-year growth of $980 million. Revenue estimates call for $3.67 billion by fiscal 2025.
SoFi is expected to hit adjusted EBITDA profitability in fiscal 2021 with an estimated $27 million.
Growth Ahead:For some consumers, it’s hard to get loans, a problem which SoFI is focused on. Palihapitiya said SoFi believes in advancing financial services for middle America.
“SoFi has fixed all these things,” Palihapitiya said. “The acceleration of cross-buying by existing SoFi members has created a virtuous cycle of compounding growth, diversified revenue and high profitability."
Upselling to existing customers has helped SoFi with growth and remains a major catalyst. Sixty-five percent of home loans for SoFI are upsells from existing members. Twenty-four percent of all products sold by SoFi are upsells from existing customers, according to Palihapitiya.
SoFi also recently received preliminary conditional approval for a national bank charter, which could be a catalyst for the company. Financial projections are likely to change with the bank charter approval.
IPOE Price Action:Shares of Social Capital Hedosphia Holdings V were up 30% before being halted before the CNBC appearance. Shares are up 54% to $18.64 at time of publication.
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Price Sees Largest Daily Loss in 10 Months: Bitcoin ended Thursday down 13%, posting its largest daily drop since the market crash of March 2020.
• The leading cryptocurrency’s drop is “probably just a dip,” according to Techemy Capital trader Josh Olszewicz, who is not expecting a prolonged correction.
• Bloomberg analyst Mike McGlone agreed, telling CoinDesk he could seebitcoin“probing for support and resistance within a mostly $30,000 to $40,000 range for awhile until embarking on the next leg of the stair-step rally.”
• But Guggenheim’s CIO Scott Minerdthinksbitcoin maybe have topped temporarily, saying that a retrace to $20,000 is possible.
• Significant selling over the past week on U.S.-based exchange Coinbase signals profit-taking by investors, per CoinDesk’s priorreporting, after bitcoin nearly tapped $42,000 earlier in January.
• Leading alternate cryptocurrencies (altcoins) likeetherandchainlinkalso recorded double-digit percentage losses.
• Thursday’s drop helped erase most of bitcoin’s yearly gains, with the cryptocurrency now up only 6% in 2021.
• Bitcoin Price Sees Largest Daily Loss in 10 Months
• Bitcoin Price Sees Largest Daily Loss in 10 Months
• Bitcoin Price Sees Largest Daily Loss in 10 Months
• Bitcoin Price Sees Largest Daily Loss in 10 Months || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / January 12, 2021 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD).
Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.comALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH
[["Digital Asset", "Pair", "Price", "24hr Chg", "7d Chg", "24/hr Volume", "MarketCap"], ["Bitcoin", "BTC/USD", "$34,311.48", "$0.06", "$0.01", "$78,502 M", "$638,144 M"], ["Ethereum", "ETH/USD", "$1,083.82", "$0.10", "-$0.01", "$39,589 M", "$123,800 M"], ["XRP", "XRP/USD", "$0.29", "$0.07", "$0.30", "$7,039 M", "$13,390 M"], ["Litecoin", "LTC/USD", "$135.76", "$0.09", "-$0.14", "$12,650 M", "$8,993 M"], ["Bitcoin Cash", "BCH/USD", "$463.78", "$0.07", "$0.11", "$9,475 M", "$8,627 M"], ["Stellar", "XLM/USD", "$0.29", "$0.23", "$0.49", "$3,032 M", "$6,298 M"], ["Bitcoin SV", "BSV/USD", "$190.16", "$0.05", "$0.14", "$1,806 M", "$3,541 M"], ["Monero", "XMR/USD", "$160.21", "$0.06", "$0.17", "$1,649 M", "$2,854 M"], ["EOS", "EOS/USD", "$2.63", "$0.04", "-$0.09", "$3,659 M", "$2,472 M"], ["Dash", "DASH/USD", "$130.18", "$0.13", "$0.45", "$1,720 M", "$1,291 M"]]
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/624051/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || India Would Ban Private Cryptocurrencies Under Proposed Legislation: The Indian Parliament will consider a government-introduced bill that would ban private cryptocurrencies in its upcoming budget session. Given the ruling party controls both houses of Parliament, the chances of the bill’s passage are considered good.
According to theLok Sabha Bulletinpublished Friday, the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, seeks to prohibit all cryptocurrencies in India and provide a framework for creating an official digital currency to be issued by the Reserve Bank of India (RBI).
While the bill is anti-private cryptocurrencies, it will allow certain exceptions to promote the underlying technology of cryptocurrency and its uses, the bulletin said. The India Parliament has three annual sessions: Budget session, which runs from January to March, Monsoon session and Winter session.
Related:What Ray Dalio Really Thinks of Bitcoin
If the bill is approved, India would become the only major Asian economy to ban private cryptocurrencies rather than regulating them like corporate stocks.
The RBI, via a circular issued on April 6, 2018, had banned regulated entities from dealing in cryptocurrencies and providing services for facilitating any person or entity in dealing with or settling those. The central bank’s banking ban wasoverruled bythe Supreme Court in March 2020, bringing cheer to exchanges providing services to India-based clients.
Sumit Gupta, CEO of the Mumbai-based CoinDCX exchange, struck a hopeful note regarding the proposed legislation. “Since the government is considering introducing the bill during this session of Parliament, we are sure the government will definitely listen to all the stakeholders before taking any decision,” Gupta told CoinDesk. “We are talking to other stakeholders and will definitely initiate deeper dialogue with the government and showcase how we can actually create a healthy ecosystem in unison.”
• India Would Ban Private Cryptocurrencies Under Proposed Legislation
• India Would Ban Private Cryptocurrencies Under Proposed Legislation
• India Would Ban Private Cryptocurrencies Under Proposed Legislation || Bitcoin Tops $28K for 1st Time, Hours After Crossing $27K; Market Cap Now Exceeds $500B: After tearing through $27,000 for the first time ever only a few hours before, the price of bitcoin briefly surged past $28,000 Sunday morning as the leading cryptocurrency’s recent meteoric rise continues. BTC’s market value now exceeds $500 billion. Recently, BTC has been leaving a string of broken records in its wake after passing the psychologically key $20,000 mark for the first time on Dec. 16. In the last several days BTC seems to found yet another gear, breaking through $25,000 Friday night for the first time and going through $26,000 Saturday afternoon like a hot poker through one-ply tissue. Roughly half a day later, BTC surged past $27,000 early Sunday morning, before racing past $28,000 just before dawn, before settling down to $27,604.67 at this writing, up 9.63% in the last 24 hours. Year to date, BTC is up more than 275%. In the last 48 hours, it’s risen 14%. With a market value of $512.34 billion, BTC is now more valuable than all but seven publicly traded companies, sitting between Alibaba at $545.4 billion and Tencent Holdings at $509.7 billion, according to Statista data . Institutional investors are perceived to be driving this record-setting run. Among them: Anthony Scaramucci’s Skybridge Capital ( $25 million in December); MassMutual ( $100 million in December); and Guggenheim ( up to 10% of its $5 billion macro fund). With the end of the year looming, some fund managers may also be buying BTC so they can brag next year about being smart enough to get in in 2020 while neglecting to say at which price they had done so. In addition, the U.S. Federal Reserve, along with other central banks, has been printing money with abandon, trying to stave off the worst economic effects of the pandemic as U.S. President Donald Trump has been pushing Congress to pass an even bigger relief package to allow for larger stimulus checks. These actions are viewed by many as potential catalysts for inflation and bad for the U.S. dollar, both of which could be positive for BTC. While the tremendous rise in BTC might make it easy to think we’re going to see $30,000 before the end of the year, it’s good to keep in mind this surge is taking place over a holiday weekend on thin volume. Monday could well bring a different narrative. Still, there are those who think BTC is just getting started. Scaramucci has said he believes BTC is in the “early innings” and Saturday afternoon, crypto venture capitalist/bitcoin evangelist Tim Draper tweeted that the price of the leading cryptocurrency could rise ten-fold by the end of 2022. Story continues Related Stories Bitcoin Tops $28K for 1st Time, Hours After Crossing $27K; Market Cap Now Exceeds $500B Bitcoin Tops $28K for 1st Time, Hours After Crossing $27K; Market Cap Now Exceeds $500B Bitcoin Tops $28K for 1st Time, Hours After Crossing $27K; Market Cap Now Exceeds $500B Bitcoin Tops $28K for 1st Time, Hours After Crossing $27K; Market Cap Now Exceeds $500B View comments || CBDCs: An Idea Whose Time Has Come?: In 1987, Nobel laureate James Tobin proposed the concept of a retail central bank digital currency . The idea was that central banks should create a public payments “ medium with the convenience of deposits and the safety of currency .” It was a novel idea, which is only recently being taken seriously. Public officials first warmed to it in response to declining cash use in some countries. One early example is Sveriges Riksbank Deputy Governor Cecilia Skingsley, who said in a 2016 speech “ the Riksbank should carefully consider meeting the general public’s need for central bank money by supplying this in some electronic form .” This post is part of CoinDesk’s 2020 Year in Review – a collection of op-eds, essays and interviews about the year in crypto and beyond. Raphael Auer is a principal economist at the Bank for International Settlements’ Monetary and Economic Department. Related: Governments Will Start to Hodl Bitcoin in 2021 Spurred into action also by the popularity of cryptocurrencies like bitcoin and announcements of stablecoin projects such as Libra (now Diem), many more central bankers have joined since. And certainly, the declining use of cash during the COVID-19 pandemic has added an extra fillip to this debate. As a consequence, research and development of CBDCs is now taking place around the world. In recent research we have built a database of all publicly announced CBDC projects . As of end of November 2020, 46 monetary authorities are researching and developing wholesale or retail CBDC (see Figure 1). Looking just at retail CBDC schemes, four pilots are underway: at the People’s Bank of China, the Eastern Caribbean Central Bank, the Bank of Korea and Sveriges Riksbank. One CBDC project – the Sand Dollar in the Bahamas – is already live. What lies ahead for 2021? First, the stance of policy makers towards CBDCs continued to improve throughout 2020 – as highlighted by the increasingly positive tone of central bank speeches (see Figure 2). One cannot overstate just how remarkable this shift of opinion is. Story continues Related: Democracy Demands a Say in the Future of Money As late as mid-2018, the net stance on issuance of CBDC had been deeply in negative territory (see Figure 2); a March 2018 joint report by the BIS Markets Committee and the Committee for Payments and Market Infrastructures argued that any “ steps towards the possible launch of a CBDC should be subject to careful and thorough consideration .” Underlying this, one reason for this shift of opinion is that policy makers are now more convinced that CBDCs can be issued without adverse side effects on commercial banks. In fact, in October, a key report by the BIS and seven major central banks laid out a kind of Hippocratic oath for CBDC issuance – “ first, do no harm ” is the premise, and CBDCs are hence seen as evolution rather than revolution . While the debate on how exactly this can be assured is still ongoing, viable proposals have emerged (see one proposal by Ulrich Bindseil here ). On the operational side, it is now evident that “Hybrid” CBDC architectures can give the private sector a leading role in the retail payment system . Thanks to these new perspectives, there is a growing possibility that CBDCs will be part of the future monetary landscape. See also: What Is a CBDC? Second, 2021 will also see many central banks continue to step up their development efforts. Figure 2 shows that also CBDC research and design efforts have grown strongly throughout 2020. The European Central Bank (ECB) is intensifying its work on a digital euro , while – as lined out by Governor Lael Brainard – the U.S. Federal Reserve system is in the midst of a number of research projects , among others partnering with MIT’s Digital Currency Initiative . Meanwhile, reports continue to be published by a number of central banks including the ECB , the Bank of England , the Riksbank , the Bank of Canada and the Bank of Japan . And certainly, the People’s Bank of China has continuously expanded its pilot scheme. Finally, it is unlikely that the new year will see the launch of a live retail CBDC in a major advanced economy. As of now, major central banks – the guardians of stability – are proceeding with great caution. According to research by the International Monetary Fund (IMF) , in the majority of jurisdictions CBDC issuance would also require a change in the central bank law. Changing central bank law is a slow process that – if pursued – would take years and a broad political dialogue. For example, going back to Sweden, Bloomberg recently reported the government will start a review process to explore the feasibility of a CBDC, with results expected in November 2022. However, we will likely see further research, pilots and announcements, as central banks continue to cooperate and learn from one another. So, even if 2021 turns out not to be the year when Tobin’s “ medium with the convenience of deposits and the safety of currency ” is announced in any major advanced economy, it could certainly bring that day very much closer. The views expressed in this column are those of the author and do not necessarily reflect those of the Bank for International Settlements. It is based on BIS working paper 880 “ The rise of the central bank digital currencies: drivers, approaches and technologies ”, authored jointly with Giulio Cornelli and Jon Frost, and “ The technology of retail central bank digital currency ”, authored jointly with Rainer Böhme and published in the March 2020 BIS Quarterly Review. Related Stories CBDCs: An Idea Whose Time Has Come? CBDCs: An Idea Whose Time Has Come? || Coinbase, Kraken Back Up Again After Outages as Bitcoin Hits Another Record: Leading U.S.-based cryptocurrency exchange Coinbase is operating normally six hours after suffering connectivity issues for the second consecutive day amid bitcoin’s parabolic price rally.
• Coinbase’s status page posted anincident reportabout users suffering disrupted connection to the exchange’s interface at 15:50 UTC.
• After investigating the issue for nearly two hours, the exchange said it had identified the cause of the problems and was implementing a fix.
• Four hours after the update, Coinbase updated: “A fix has been implemented and we are confirming it has resolved the issue. All systems are operating normally.”
• Yesterday, Coinbase experienced the same issue, per its status page. The problem wasn’t resolved for six hours, as CoinDesk previously reported.
• Kraken also reported a “heavy load” causing connectivity issues for users at 17:03 UTC, per its status page. Three hours later, the exchange updated the incident report to say all affected components have returned to a fully operational state.
• The bellwether cryptocurrency ripped through $39,000 for the first time ever late Thursday morning. Hours later it topped $40,000, more than doubling in less than a month.
• Shortly before bitcoin reached the new milestone, the exchange updated the open incident report, saying, “We are continuing to work on a fix for this issue.”
• In mid-December, Coinbasefiledpreliminary documents ahead of a planned public offering, reportedlytappingGoldman Sachs to lead the listing days later.
The story is developing and will be updated as more information is available.
• Coinbase, Kraken Back Up Again After Outages as Bitcoin Hits Another Record
• Coinbase, Kraken Back Up Again After Outages as Bitcoin Hits Another Record
• Coinbase, Kraken Back Up Again After Outages as Bitcoin Hits Another Record
• Coinbase, Kraken Back Up Again After Outages as Bitcoin Hits Another Record || FOREX-Dollar extends 2020 losing streak amid upbeat sentiment; yuan shines: (Adds European PMIs, quote, new milestone) * Dollar softens against most majors; virus worries lift yen * China's yuan soars * Focus turns to Georgia Senate race * Bitcoin slumps after stellar rally By Julien Ponthus LONDON, Jan 4 (Reuters) - The U.S. dollar fell to mid-2018 lows on Monday as bullish sentiment across global markets prompted investors to buy riskier currencies such as the Chinese yuan and the euro, despite a resurgent pandemic. With U.S. interest rates pinned at record lows, massive U.S. deficits and a belief that rebounding world trade will drive non-dollar currencies higher, the dollar weakened on the first day of trading in 2021 after falling nearly 7% last year. The Chinese currency was the biggest beneficiary of the weak dollar trade. The yuan rocketed to a two-and-a-half-year high. "The U.S. dollar slipped further through the threshold of the new year as global risk sentiment stayed buoyant", said Alvin Tan, an FX strategist at RBC Capital Markets. The dollar index touched a low of 89.415, a level last seen in mid-2018, and was down 0.3% at 89.529. The Chinese yuan rose to 6.44 yuan per dollar after Beijing cut the weighting of the U.S. dollar in a key currency index basket. That could push the yuan's value higher against its peers this year, analysts said, while Chinese factory activity continued to accelerate in December. The euro, which had dipped on New Year's Eve profit-taking, rose 0.6% to $1.2294, just short of 2018 highs with positive economic indicators backing the single currency. IHS Markit economist Phil Smith said the latest data showed German manufacturing continued to power on at the end of the year. "With the rollout of the COVID vaccines, it's hoped that the pandemic will become less and less of a hindrance to demand and that investment will continue to recover in the year ahead." Also, a closely watched gauge of growth in British manufacturing activity rose to its highest level in three years as factories rushed to complete work before the end of the post-Brexit transition period on Dec. 31. Sterling abandoned most of its early gains against the dollar, retreating below $1.37 but close to levels last seen in early 2018. The safe-haven yen rose 0.4% to 102.87 per dollar, after Japanese Prime Minister Yoshihide Suga said his government was mulling a state of emergency in Tokyo as coronavirus cases rise. Bitcoin had a rough ride, falling as low as $27,734 at one point, after making dramatic gains over the new year's break. It was last down 6.4% at $30.980. The world's most popular cryptocurrency surged over $30,000 for the first time on Saturday, touched a record high of $34,800 a day later, as investors continued to bet the digital currency was on its way to becoming a mainstream asset. ======================================================== Currency bid prices at 12:08PM in London (01208 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar $1.2291 $1.2218 +0.61% +0.61% +1.2301 +1.2211 Dollar/Yen 102.8950 103.2900 -0.46% -0.47% +103.3100 +102.7300 Euro/Yen 126.47 126.15 +0.25% -0.35% +126.5200 +126.1100 Dollar/Swiss 0.8798 0.8847 -0.54% -0.54% +0.8845 +0.8789 Sterling/Dollar 1.3647 1.3662 -0.10% -0.10% +1.3703 +1.3645 Dollar/Canadian 1.2694 1.2734 -0.43% -0.31% +1.2735 +1.2666 Aussie/Dollar 0.7719 0.7693 +0.34% +0.34% +0.7740 +0.7682 NZ 0.7208 0.7181 +0.40% +0.40% +0.7230 +0.7183 Dollar/Dollar All spots Tokyo spots Europe spots Volatilities Tokyo Forex market info from BOJ (Reporting by Julien Ponthus; editing by Lincoln Feast, Larry King) || Bitcoin Era Review: How Bitcoin Era Software Works? By Joll of News: Bitcoin Era is a trading platform that allows its clients to trade in Bitcoin and other cryptocurrencies.
New York City, NY, Dec. 20, 2020 (GLOBE NEWSWIRE) -- If a person is looking to put their money in the crypto market, there are two ways to do it. Either they can choose to invest, or they can trade. Both trading and investing are different approaches to put money in the market. It's important for the person concerned to be clear with their financial goals. If they want to earn profits in the long-run, they should invest and hold an asset. And, if they're looking for instant profits, they should trade. This review is aboutBitcoin Era, an automated trading software that helps people trade cryptocurrencies (1).
What Factors Influence the Price of Bitcoin?
Before diving into the review, it's important to know that Bitcoin is a decentralized currency. This means, unlike regular currencies, stocks, and commodities, it isn't regulated by any authority or government. They've no control over its value, so they cannot influence a rise or a downfall. Factors like inflation, tax changes, global economic climate, and others that usually impact stocks, commodities, and other assets have zero impact on Bitcoin's price.
But this doesn't mean the price goes uninfluenced by any economic or legal factor.
Open Your Bitcoin Era Account Now From The Official Site
The most important factor is the simple law in economics, demand, and supply. If people demand more Bitcoin and proceed to buy it, the price will go up. And, if supply increases and is more dominant than demand, then the price will reduce. Other factors include the production cost, regulation governing it, and stability of governments.
About Bitcoin Era
Bitcoin Era is a trading platformthat allows its clients to trade in Bitcoin and other cryptocurrencies (2). The creators claim that this platform runs an innovative algorithm that processes the fluctuating crypto market data and generates profit-making trade signals. The creators affirm that these trading signals provide profitable currency pairs, like Bitcoin/the U.S. Dollar or BTC/USD, which are 99.4% accurate.
The members of this platform also confirm the ease of use of the software and the accuracy of predictions. David Williams from Phoenix says, "I had been trading in Bitcoins for a year and lost money by trading on several platforms. But, with the Bitcoin Era, things were different. The accurate predictions, leverage trading, and lightning-fast execution of orders are unique features of this trading platform.
How Does the Bitcoin Era Work?
The trading platforms in the cryptocurrency market, generally work with different exchanges and allow their clients to trade in one or more cryptocurrencies (3). Different trading platforms provide different services. Some may only allow trading in Bitcoins or may provide the market price statistics and the clients have to analyze these. Some platforms are more specialized and offer trade analysis, trading signals, and auto-trade functions to their clients. The creators of the Bitcoin Era claim that their software is highly complex. It collects the price data in real-time, processes the data, and then generates profitable trade signals. It provides many strategies as per the risk profile of the clients.
According to the options available on this platform, demo trading, manual trading, and auto trading options are available. A beginner can use demo trading to trade in the live market using virtual money and train before venturing into live trading. Manual trading is for experts who are sure of their skills. The users can navigate to auto trading, select some parameters, and the software will execute the trade.
MUST SEE:“Shocking New Bitcoin Era App Report – What They’ll Never Tell You”
How to Use Bitcoin Era?
Listed below are steps to follow for people who want to start using the software-
Step 1: Register on Bitcoin Era
First, people have to visit theofficial website of the platform and register on it. There's a sign-up form on the "home" page of the website and interested users have to provide accurate details, and fill it. After the details have been entered, users will be able to instantly access the private members' area.
Step 2: Deposit Money in Trading Account
When it comes to opening a trading account and starting trading, this is probably the most important step. Users need to provide their bank details to the platform and deposit some start-up money. $250 is the minimum deposit that allows them to start with smaller orders.
Step 3: Verification of Account
In this stage, the automated software verifies the information that users provide, including personal details and bank details. It helps the accounts of the users to be free of scams and swindles, a common occurrence in the crypto sector.
Finally, the software encrypts the user's trading account under a secure system. Then, they'll also allow traders to set a customized password for themselves, so only they can access their accounts.
Step 4: Select Trading Mode and Fix Parameters
The platform allows its customers to choose and shift trading modes according to their preferences. If they want the software to place trades on their behalf, they should select the assistance mode. They can also switch to the manual mode whenever they're ready to execute trades on their own.
Traders also need to fix and adjust parameters as per their requirements. As the trading bot pulls out potentially profitable trade opportunities for the users, it has to be aware of their preferences to bring the most suitable trades for them (4).
Step 5: Practice Account
The Bitcoin Era trading software provides its customers with a practice account. It allows users to familiarize themselves with the software and also gives them much-needed exposure to the crypto trading world. The account contains virtual credits and users are allowed to execute fake trades for practice.
Step 6: Place Trades and Win
Now, after all the necessary formalities are done, users can dive right into executing trade orders. Bitcoin Era will bring out the most suitable trading opportunities for each user based on their trading parameters. If they've switched on the "assistance mode", then the software will execute those orders for them as well. It allows users to win from every one of the executed trades as the software has a 99.4% success rate.
Step 7: Transfer the Profits to Bank Account
The developers of the software encourage users to collect their profits every day and transfer them to their savings accounts. It only takes a few minutes to complete the withdrawal process and the profits will get deposited into the users' accounts within 24-36 hours.
Familiarize yourself with Bitcoin Era using a free demo account.
Benefits of Bitcoin Era
• It is a web-based platform that can be accessed from any device with a Wi-Fi connection.
• It's easy to use and has a free trading interface.
• The backend features allow the clients to test the strategies before actual trading.
• The Sophisticated algorithm helps analyze the price data.
• Bitcoin Era's trade signals are 99.4% accurate that allows members to book profits almost every time.
• The users can use the auto-trade option to execute trades even when they are not online.
• It allows trading throughout the day, so the users can book profits even while sleeping.
• The trading software uses the 'time-leap' feature, making it consistent and reliable.
Pricing Policy
Even though the developers refer to theBitcoin Era softwareto be "free of charge", they do charge a minimal transaction fee on every completed transaction on the platform, be it purchasing, or selling. This fee is automatically deducted from the profit that's earned by the trader.
FAQs
Is the Bitcoin Era trading software legitimate?
Yes, the Bitcoin Era trading software is legitimate. It's compliant with all the trading guidelines laid down by respective authorities. So, users need not worry about the legality of the software as it's a clean and secure platform.
Is it important to have experience in the field of trading to use the software?
No, it's not at all mandatory to have experience in the field of trading to access the software and earn profits. The developers of the software are confident that the beginner-friendly platform created by them will help every user to achieve their financial goals. The software has an "assistance mode" that can be switched on anytime by the users.
How much should users devote to the trading platform?
Users don't need to devote long hours to the platform. This is probably the most important advantage of using automated software. The developers recommend traders to access their trading accounts for 20 minutes daily to adjust their trading preferences and transfer the profits to their bank accounts.
Open Your Bitcoin Era Account Now From The Official Site
Conclusion
Most people are worried about the "risk factor" that is associated with trading a lot. This is the reason behind people being hesitant towards trading. And, yes, they're right in analyzing that it involves risk but here's a software that claims to provide a 99.4% success rate. This data can be interpreted in several ways. Mathematically speaking, it means that users can win from almost all trades. So, the risk associated with contracts to a negligible level.
References
1. https://en.wikipedia.org/wiki/Cryptocurrency
2. https://www.bitcoin.com/
3. https://www.justice.gov/archive/ndic/pubs28/28675/sub.htm
4. https://www.ig.com/en/cryptocurrency-trading/what-is-cryptocurrency-trading-how-does-it-work
Contact - [email protected]
Disclosure by content creator
Joll of news shares e-commerce sales news and writes product reviews on various topics. Contact me for more information at [email protected]
This press release is for informational purposes only. The information does not constitute advice or an offer to buy. Any purchase done from this story is done on your own risk. Consult an expert advisor/health professional before any such purchase. Any purchase done from this link is subject to final terms and conditions of the website that is selling the product. The content on this release does not take any responsibility directly or indirectly.
Statements in this report have not been evaluated by the Food and Drug Administration. Products are not intended to diagnose, treat, cure or prevent any disease
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• Bitcoin Era Software Review
[Random Sample of Social Media Buzz (last 60 days)]
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Trend: up || Prices: 35510.29, 37472.09, 36926.07, 38144.31, 39266.01, 38903.44, 46196.46, 46481.11, 44918.18, 47909.33
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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 2022-01-31]
BTC Price: 38483.12, BTC RSI: 40.20
Gold Price: 1795.00, Gold RSI: 44.72
Oil Price: 88.15, Oil RSI: 68.36
[Random Sample of News (last 60 days)]
Robinhood Rolls Out Crypto Wallet to First 1,000 Waitlist Sign-Ups: Rafael Henrique/SOPA Images/Shutterstock Robinhood rolled out its own crypto wallets to 1,000 customers from the top of its WenWallets waitlist and expects to expand the program to 10,000 customers by March, according to a blog post. See: Robinhood Hit With Breach of Contract Fine – Could This be an Opening for Further Litigation? Find: How Robinhood and Other IPOs Performed in 2021 The wallet will enable Robinhood customers to send and receive cryptos from Robinhood to external crypto wallets, and fully connect crypto holders to the greater blockchain ecosystem for the very first time, the company said in the blog post. Beta testers will have a daily limit of $2,999 in total withdrawals and 10 transactions and will need to enable two-factor authentication. In October, one month following Robinhood’s announcement that it would launch its own crypto wallet, the waitlist topped 1 million customers, CEO Vlad Tenev said, as GOBankingRates previously reported. And as of Dec. 30, more than 1.6 million people have signed up for wallets, according to a blog post. At the time of the announcement in September, Robinhood said that the wallet means “you can consolidate your coins into one account so it’s easier to track your portfolio, move supported coins into your Robinhood account so you can trade those coins commission-free, and more.” Robinhood Crypto COO Christine Brown tweeted that “over the duration of the Beta program, we will be working to finalize the send and receive flows and add delightful QR scanning experiences, improved transaction history, and block explorer support so you can see your transactions on-chain — and more!” Over the duration of the Beta program, we will be working to finalize the send and receive flows and add delightful QR scanning experiences, improved transaction history, and block explorer support so you can see your transactions on-chain— and more! https://t.co/db5afxwQWx — Christine (Hall) Brown (@christine_hall) January 20, 2022 The company, whose mission is to “democratize finance for all,” started its NASDAQ listing in July 2021, under the ticker HOOD, in one of the most anticipated and unusual IPOs of the year. Story continues The company, which will release its earnings on Jan. 27, said In October that for the three months ending Dec. 31, 2021, it anticipates that many of the factors that impacted its third-quarter results, such as seasonal headwinds and lower retail trading activity, may persist. See: Best Bitcoin or Crypto Wallets 2021: How To Choose Find: Stock Forecast: Robinhood’s Crypto Wallet Waitlist Tops 1 Million Signups “In the absence of any changes to the market environment or exogenous events, we believe this may result in quarterly revenues no greater than $325 million and full-year revenue of less than $1.8 billion. Additionally, we expect new funded accounts for the fourth quarter will be roughly in line with the 660,000 opened in the third quarter of 2021 ,” according to the statement. More From GOBankingRates Learn More About GOBankingRates’ Best Checking Accounts of 2022 See GOBankingRates’ Best Online Banks of 2022 How to Easily Add $500 to Your Wallet This Month 35 Useless Expenses You Need To Slash From Your Budget Now This article originally appeared on GOBankingRates.com : Robinhood Rolls Out Crypto Wallet to First 1,000 Waitlist Sign-Ups || Bitcoin investors dig in for long haul in 'staggering' shift: By Medha Singh and Lisa Pauline Mattackal (Reuters) - As bitcoin heads into 2022, a growing cohort of long-term investors is doubling down on its stashes of the cryptocurrency, hoping a December dip was merely a festive blip. Some industry watchers point to the underlying stability of such long-term investments as potentially promising indicators for the capricious cryptocurrency. Since last July, for example, the amount of bitcoin held in digital wallets with no outflows for more than five months has been steadily increasing, according to digital currency brokerage Genesis Trading. In addition, the amount of the bitcoin held in "illiquid" wallets - which spend less than quarter of their inflows - is also rising, meaning fewer coin are being actively traded, it added, citing wallet data across several exchanges. "The number of bitcoins that haven't moved in over a year has been climbing since July," said Noelle Acheson, head of market insights at Genesis Trading. "That's pretty staggering." Many investors were nonetheless sent diving for cover in December when the world's most popular cryptocurrency sunk almost 20%, roughly the same as the second-biggest coin ether, with risk appetite hit by inflation fears and a quicker pace of interest rate hikes from the U.S. Federal Reserve. While bitcoin and ether both posted gains last week - up 2.9% to $43,107 and up 6.3% to $3,350, respectively - they are still some way off their 2021 highs of $69,000 and $4,868 'STRONG HANDS' Many cryptocurrency experts caution that no one has been known to reliably predict bitcoin's characteristically wild price swings. In 2017, for example, it went from about $1,000 to around $20,000. In early 2020, it sunk below $4,000 at one point before beginning a dizzying rise. Yet advocates of bitcoin and other coins say the increasing acceptance of cryptocurrencies in mainstream financial and investing in recent years has shored up the sector. Story continues Cryptocurrency research firm Delphi Digital said their research showed a similar shift towards bitcoin being held for longer period by investors, which it said "illustrates a transference from shorter-term 'weak hands' to long-term 'strong hands'." Crypto data platform Coinglass's bitcoin Fear & Greed index, has wavered between 10 and 29 since the start of the year, which could be an indicator of a possible market bottom and buying opportunities, according to Will Hamilton, head of trading & research at Trovio Capital Management. "Previous market bottoms in July 2021 and March 2020 correlated with Fear and Greed scores of 19 and 10 respectively," he added. For the uninitiated, 0 indicates "extreme fear" and 100 is "extreme greed" MUSK AND DOGE There were, meanwhile, more headlines for cryptocurrencies last week. Meme-based dogecoin stole the spotlight after Tesla CEO Elon Musk tweeted that the company would accept it as payment for select merchandise. The tweet sent dogecoin up nearly 12%. "If more people are looking to buy Tesla merchandise with dogecoin then there's more demand," Acheson said, adding that this move could improve fundamental factors for dogecoin. Cryptocurrency Solana was another altcoin in focus, with Bank of America analysts saying the Solana blockchain could pull market share away from ethereum and "could become the Visa of the digital asset ecosystem". Elsewhere, bitcoin miners bounced back from mining crackdowns in China and the recent unrest in Kazakhstan, one of the world's primary centres for bitcoin mining. Bitcoin's mean "hash rate" a measure of the power of the bitcoin computing network, touched an all time high of over 215 million terahashes per second on Thursday, according to blockchain data provider Glassnode. (Reporting by Medha Singh and Lisa Mattackal in Bengaluru; Editing by Vidya Ranganathan and Pravin Char) || First Financial Bank - Trust Division Buys Mondelez International Inc, General Electric Co, ...: Investment company First Financial Bank - Trust Division ( Current Portfolio ) buys Mondelez International Inc, General Electric Co, iShares TIPS Bond ETF, Vanguard Mortgage-Backed Securities ETF, Consumer Staples Select Sector SPDR, sells AbbVie Inc, Boulder Growth & Income Fund during the 3-months ended 2021Q4, according to the most recent filings of the investment company, First Financial Bank - Trust Division. As of 2021Q4, First Financial Bank - Trust Division owns 183 stocks with a total value of $989 million. These are the details of the buys and sells. New Purchases: GE, VMBS, XLP, AEP, COST, IR, IWD, Added Positions: MDLZ, VNQ, IEFA, IVV, VLUE, TIP, XLV, IVW, PFF, VTV, USB, KBWR, GS, SCHW, CAT, XLF, XLI, ASH, GLD, ESGD, PNC, Reduced Positions: SPY, PG, MSFT, MDY, EFA, T, ITOT, AAPL, K, EEM, GILD, MCD, JPM, NKE, PEP, ACN, FDS, ABBV, QUAL, UNH, SO, VZ, WMT, BIF, V, AGG, SOXX, VO, MRK, ALL, CTAS, DE, DRI, XLK, MO, AXP, AFG, AMGN, BRK.B, IBB, CSX, CHD, KO, CL, DHR, MDT, EMR, UPS, NEE, SLB, FITB, GD, OSK, OMC, NSC, SJM, MS, LMT, Warning! GuruFocus has detected 6 Warning Signs with EL. Click here to check it out. MDLZ 15-Year Financial Data The intrinsic value of MDLZ Peter Lynch Chart of MDLZ For the details of First Financial Bank - Trust Division's stock buys and sells, go to https://www.gurufocus.com/guru/first+financial+bank+-+trust+division/current-portfolio/portfolio These are the top 5 holdings of First Financial Bank - Trust Division BTC iShares Core MSCI EAFE ETF ( IEFA ) - 1,033,594 shares, 7.80% of the total portfolio. Shares added by 1.06% iShares Russell 2000 ETF ( IWM ) - 256,331 shares, 5.76% of the total portfolio. Shares added by 0.18% Procter & Gamble Co ( PG ) - 289,961 shares, 4.80% of the total portfolio. Shares reduced by 2.39% Microsoft Corp (MSFT) - 102,425 shares, 3.48% of the total portfolio. Shares reduced by 3.26% Apple Inc (AAPL) - 193,262 shares, 3.47% of the total portfolio. Shares reduced by 1.77% New Purchase: General Electric Co (GE) Story continues First Financial Bank - Trust Division initiated holding in General Electric Co. The purchase prices were between $89.98 and $111.29, with an estimated average price of $100.68. The stock is now traded at around $96.240000. The impact to a portfolio due to this purchase was 0.07%. The holding were 7,307 shares as of 2021-12-31. New Purchase: Consumer Staples Select Sector SPDR (XLP) First Financial Bank - Trust Division initiated holding in Consumer Staples Select Sector SPDR. The purchase prices were between $68.33 and $77.11, with an estimated average price of $72.11. The stock is now traded at around $77.100000. The impact to a portfolio due to this purchase was 0.05%. The holding were 6,225 shares as of 2021-12-31. New Purchase: Vanguard Mortgage-Backed Securities ETF (VMBS) First Financial Bank - Trust Division initiated holding in Vanguard Mortgage-Backed Securities ETF. The purchase prices were between $52.61 and $53.2, with an estimated average price of $52.9. The stock is now traded at around $52.610000. The impact to a portfolio due to this purchase was 0.05%. The holding were 9,835 shares as of 2021-12-31. New Purchase: Ingersoll Rand Inc (IR) First Financial Bank - Trust Division initiated holding in Ingersoll Rand Inc. The purchase prices were between $49.89 and $61.87, with an estimated average price of $57.14. The stock is now traded at around $59.630000. The impact to a portfolio due to this purchase was 0.02%. The holding were 3,802 shares as of 2021-12-31. New Purchase: Costco Wholesale Corp (COST) First Financial Bank - Trust Division initiated holding in Costco Wholesale Corp. The purchase prices were between $440.14 and $567.77, with an estimated average price of $514.33. The stock is now traded at around $566.710000. The impact to a portfolio due to this purchase was 0.02%. The holding were 383 shares as of 2021-12-31. New Purchase: iShares Russell 1000 Value ETF (IWD) First Financial Bank - Trust Division initiated holding in iShares Russell 1000 Value ETF. The purchase prices were between $156.44 and $168.08, with an estimated average price of $163.37. The stock is now traded at around $168.520000. The impact to a portfolio due to this purchase was 0.02%. The holding were 1,249 shares as of 2021-12-31. Added: Mondelez International Inc (MDLZ) First Financial Bank - Trust Division added to a holding in Mondelez International Inc by 522.33%. The purchase prices were between $58.07 and $66.37, with an estimated average price of $61.81. The stock is now traded at around $65.970000. The impact to a portfolio due to this purchase was 0.15%. The holding were 26,835 shares as of 2021-12-31. Added: iShares TIPS Bond ETF (TIP) First Financial Bank - Trust Division added to a holding in iShares TIPS Bond ETF by 261.83%. The purchase prices were between $126.62 and $129.87, with an estimated average price of $128.15. The stock is now traded at around $128.460000. The impact to a portfolio due to this purchase was 0.05%. The holding were 5,735 shares as of 2021-12-31. Added: Health Care Select Sector SPDR (XLV) First Financial Bank - Trust Division added to a holding in Health Care Select Sector SPDR by 39.31%. The purchase prices were between $124.86 and $141.49, with an estimated average price of $132.44. The stock is now traded at around $139.440000. The impact to a portfolio due to this purchase was 0.04%. The holding were 10,592 shares as of 2021-12-31. Here is the complete portfolio of First Financial Bank - Trust Division. Also check out: 1. First Financial Bank - Trust Division's Undervalued Stocks 2. First Financial Bank - Trust Division's Top Growth Companies, and 3. First Financial Bank - Trust Division's High Yield stocks 4. Stocks that First Financial Bank - Trust Division keeps buyingThis article first appeared on GuruFocus . || Stock market news live updates: S&P pulls back from record, Nasdaq sheds 1.4%: Stocks traded lower on Monday, with the S&P 500 dipping below last week's record level as traders awaited a Federal Reserve monetary policy decision later this week.
The three major indexes declined. U.S. crude oil prices steadied trade near $71 per barrel. Treasury yields fell across the long end of the curve, and the benchmark 10-year yield held below 1.5%. Bitcoin prices declined to trade below $47,000.
Investors' focus this week will be on theFederal Reserve's December policy-setting meeting,which will take place between Tuesday and Wednesday. A new monetary policy statement and press conference with Fed Chair Jerome Powell are due mid-week, alongside the Fed's updated Summary of Economic Projections charting out individual members' outlooks for economic conditions and interest rates. Policymakers for other central banks are also set to meet this week, including those from the Bank of England and European Central Bank.
The Fed's decision has taken on additional significance as the market attempts to predict how policymakers will weigh persistently elevated inflation against the specter of a fresh wave of the coronavirus with the newly discovered Omicron variant. U.S. inflation roseat its fastest pace since 1982 in November,last week's Consumer Price Index (CPI) showed, pointing to the ongoing mismatch between supply and demand in the recovering economy.
On the virus front, the Omicron variant has so far been detected in 30 states,according to data compiled by the New York Times.Early data so far have suggested the variant ismore transmissiblethan the earlier Delta variant, butmay cause less severe diseaseand be able to beneutralized by a booster dose of the COVID-19 vaccine, according to Pfizer.On Monday, theWorld Health Organization said the Omicron variant remainsa "very high" global risk, while underscoring that data on the severity of the disease is still limited.
But against the backdrop of inflation and a firming economic recovery, the Fed is expected to announce an acceleration of its asset purchase tapering process at the close of this week's meeting, dialing back one of the central bank's key tools that had helped support the economy during the pandemic.
"Both equity and fixed-income markets appear to be pricing the coming Fed tightening," David Kostin, Goldman Sachs chief U.S. equity strategist, wrote in a note.
The firm expects the Fed to double the pace of tapering at this week's meeting, bringing the Fed's monthly drawdown of Treasuries and agency mortgage-backed securities purchases to $30 billion per month versus the current rate of $15 billion.
"Historical experience suggest equity valuations are typically flat around the first Fed hike," Kostin added. "Moreover, some of the longest duration and highest valuation stocks plunged during the past month, suggesting that equity market pricing of Fed tightening is also under way."
—
Here were the main moves in markets as of 4:05 p.m. ET:
• S&P 500 (^GSPC): -43.04 (-0.91%) to 4,668.98
• Dow (^DJI): -320.04 (-0.89%) to 35,650.95
• Nasdaq (^IXIC): -217.32 (-1.39%) to 15,413.28
• Crude (CL=F): -$0.44 (-0.61%) to $71.23 a barrel
• Gold (GC=F): +$2.70 (+0.15%) to $1,787.50 per ounce
• 10-year Treasury (^TNX): -6.5 bps to yield 1.4240%
—
TheU.S. Postal Service announced Mondaythat it expects 2.3 billion pieces of mail to be delivered during the week of Dec. 13, underscoring the heightened demand for shopping and shipping this holiday season. The USPS estimate includes both greeting cards and packages.
"Since Dec. 6, customer traffic at all Post Office locations has been steadily increasing," the USPS said in a press statement. "But this week is expected to be the busiest week of the holiday mailing and shipping season."
Between Thanksgiving and New Year's Day, an estimated 850 million to 950 million packages are expected to be delivered in total, USPS said.
—
Shares of Apple gained in intraday trading, bucking the downward trend of the broader market to come within striking distance of a $3 trillion market capitalization. At session highs, shares of Apple were trading at $181.80, or about 0.6% from the share price that would bring its market cap to the $3 trillion milestone.
The iPhone-maker had become the first U.S. company ever to reach a $2 trillion market cap in August 2020. Peer technology giant Microsoft has also since rocketed to a more than $2 trillion valuation.
Shares of Apple have gained more than 36% so far for the year-to-date, outperforming the S&P 500's about 24.9% gain over that period. This comes on top of Apple's 81% gain in 2020.
—
Here's where markets were trading just after the opening bell:
• S&P 500 (^GSPC): -5.26 (-0.11%) to 4,706.76
• Dow (^DJI): -5.26 (-0.08%) to 35,943.90
• Nasdaq (^IXIC): -35.94 (-0.23%) to 15,591.80
• Crude (CL=F): -$0.44 (-0.61%) to $71.23 a barrel
• Gold (GC=F): +$1.90 (+0.11%) to $1,786.70 per ounce
• 10-year Treasury (^TNX): -4.1 bps to yield 1.448%
—
Here were the main moves in markets ahead of the opening bell on Monday:
• S&P 500 futures (ES=F): +10 points (+0.21%), to 4,721.00
• Dow futures (YM=F): +18 points (+0.05%), to 35,985.00
• Nasdaq futures (NQ=F):+64.5 points (+0.39%) to 16,394.25
• Crude (CL=F): -$0.69 (-0.96%) to $70.98 a barrel
• Gold (GC=F): +$5.60 (+0.31%) to $1,790.40 per ounce
• 10-year Treasury (^TNX): -1.7 bps to yield 1.472%
—
Emily McCormick is a reporter for Yahoo Finance.Follow her on Twitter || Wall Street shakes off Fed, Ukraine anxiety as oil dips: By Pete Schroeder WASHINGTON (Reuters) - A tumultuous day on Wall Street saw stocks end higher after posting heavy losses earlier in the day, as uncertainty over rising geopolitical tensions and Fed policy weighed down oil and boosted safe havens. All three major U.S. stock indices closed the day in positive territory, after the Dow Jones Industrial Average had posted an over 1,000-point decline earlier in the day. The Dow ended up 0.29%, while the S&P 500 gained 0.28% and the Nasdaq Composite added 0.63%. The MSCI world equity index, which tracks shares in 45 nations, was down 0.78%. The late gains marked a surprising turnaround for U.S. stocks, which were battered last week, posting their heaviest losses since 2020. The decline potentially enticed bargain hunters to help push them higher Monday. "Recent bearishness in equities is overdone, and out of line with activity momentum, easing bottlenecks, and what we expect to be a strong earnings season," wrote JPMorgan analysts in a midday note. The market tumult came as NATO said on Monday it was putting forces on standby and reinforcing eastern Europe with more ships and fighter jets in response to Russia's military build-up at Ukraine's borders. The U.S. State Department on Sunday ordered diplomats' family members to leave Ukraine, while President Joe Biden weighed options for boosting U.S. military assets in the region. Attention is also turning to the U.S. Federal Reserve, which kicks off a two-day policy meeting on Tuesday. Investors are watching the central bank as closely as ever, as Fed officials look to unwind unprecedented stimulus and begin a path toward future rate hikes. "Investors are accepting the harsh reality that the end of the ultra-easy monetary policy is upon us. This week the Federal Reserve meets and while we expect no changes at this meeting, the market is pricing in a full quarter point increase in March," said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. The risk-off attitude was evident in oil markets, as prices dipped by as much as 3% after closing Friday with a fifth straight week of gains. Brent crude fell $1.62, or 1.8%, to $86.27 a barrel, while U.S. West Texas Intermediate (WTI) crude settled down $1.83, or 2.2%, to $83.31. [O/R] Other riskier assets felt pressure as well. Bitcoin hit a six-month low Wednesday, but was up slightly late Monday to $36,921, still well below the November all-time high of $69,000. FED TIGHTENING LOOMS Concerns that the Fed could tighten too quickly at its meeting this week added to investor nerves. Story continues The U.S. central bank is expected to confirm that it will soon start draining the massive pool of liquidity that has supercharged growth stocks in recent years. Treasury yields were down on most maturities Monday. The benchmark U.S. 10-year yield was flat on the day at 1.7511%, after earlier hitting an 11-day low of 1.7070%. Fears over the Fed and Ukraine boosted safe haven investments. The dollar hit a two-week high against a basket of currencies, last up 0.26%. Spot gold prices also jumped 0.55% to $1,843.26 an ounce.. (Reporting by Pete Schroeder in Washington; Editing by Cynthia Osterman and Rosalba O'Brien) View comments || $16 Million Reportedly Stolen From Crypto.com — Is Your Investment in Jeopardy?: Singapore-based digital wallet provider and trading platform Crypto.com tweeted on Jan. 18 that “a small number of users experienced unauthorized activity in their accounts” — and also that “all funds are safe.” This news shook thecryptoeconomy, and manyinvestorsbegan discussing security protocols in the immediate aftermath.
See:8 Best Cryptocurrencies To Invest In for 2022Find:Best Long-Term Cryptocurrencies to Buy for 2022
As a precaution, the certified Crypto.com account stated that users would be required to “sign back into their App & Exchange accounts,” and “reset their 2FA.”
Crypto.com shut down withdrawals for roughly 14 hours while they made security updates, noting in a tweet that “this update will be rolled out to users progressively over the next few hours.”
Some users of the service reported having funds stolen from their accounts on Jan. 17, including a crypto influencer who goes by the name “Ben Baller.” Baller tweeted: “I messaged yah [sic] guys hours ago about my account having 4.28ETH stolen out of nowhere and I’m also wondering how they got passed [sic] the 2FA?”
However, this user followed up with a tweet that Crypto.com had restored his missing funds. Speculation abounds as to whether Crypto.com retrieved stolen funds or simply reimbursed users out of pocket. Gizmodo reported that Crypto.com declined to answer questions emailed by Gizmodo on Jan. 17.
CoinDesk reported that $15 million in ETH, reportedly stolen from Crypto.com, was being laundered via Tornado Cash — an ETH mixer protocol — according to data discovered on the blockchain.
ETH mixers are designed to improve transaction privacy by obscuring the on-chain connection between the source and recipient, CoinDesk says. But the anonymity on the platform also makes it a prime venue for coin laundering.
However, Tornado Cash co-founder Roman Storm had previously told CoinDesk that the service “includes a cryptographic note in the transaction history of ether sent through its pipes.” This note can determine where funds originated. During that interview Storm also said, “We are in a little bit of a different situation… I think for us it’s very important to become compliant.”
Discover:Musk Confirms Dogecoin Payment Option for Tesla Merchandise, Pushing the Crypto’s Price Higher
The missing funds — and the temporary Crypto.com shutdown — invite the question: Is your cryptocurrency investment safe?
Measures such as two-factor authentication and encryption technology (similar to what’s used by banks and other online financial institutions) help crypto wallets and crypto exchanges maintain security.
You can keep your investment secure by making sure to access your crypto wallet via a secure internet connection (not a public WiFi network), as well as by creating a hard-to-guess password and keeping it secret.
Related:Buying Crypto in 2022? Do This First
Additionally,choose a crypto walletthat offers insurance against theft, such as Coinbase.com, which is the largest crypto exchange in the U.S. Coinbase also stores the vast majority of its funds offline, in U.S. banks, money market funds, or U.S. Treasury bonds.
Crypto.com also fits the bill, reporting on its site that 100% of user cryptocurrencies are held offline in cold storage. The company has also taken other measures, including multi-factor authentication for transactions, whitelisting external email addresses required for withdrawals, and including security features baked into the app. The fact that Crypto.com responded quickly and publicly to the reported theft — and that one user’s stolen funds were seemingly returned — may provide some measure of comfort to crypto investors.
If you have a large amount of crypto, you may consider investing in your own cold storage wallet — a hard drive that you take offline when you aren’t actively transferring funds.
Learn:5 Things Most Americans Don’t Know About Crypto InvestingExplore:11 Best Cryptocurrency Stocks To Invest In
After the reported hack of Crypto.com,Bitcoinwas down 1.58% on the morning of Jan. 18. ETH had dropped 3.12% during that same time span, according to CoinDesk.
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This article originally appeared onGOBankingRates.com:$16 Million Reportedly Stolen From Crypto.com — Is Your Investment in Jeopardy? || BTT Crypto: 11 Things to Know About BitTorrent as the Token Takes Off Today: TheBitTorrent(CCC:BTT-USD) crypto token is doing well for itself Tuesday as the prices rise higher.
Source: Stanslavs / Shutterstock.com
So what exactly has crypto traders excited about BTT today? It all comes down toa major event taking place on Dec. 12. At that time, the BitTorrent network will launch. This network will include its file-sharing platforms, as well as the BTT token.
Now that we know what has BTT on the move today, let’s dive into what BitTorrent is all about below!
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
• BitTorrentisn’t exactly a new name on the internet.
• The service has been around for years and offers file sharing between users.
• The files are shared in a decentralized way.
• Basically, the downloader pulls parts of the file from several users until they have it completed.
• Then, they have the option to become a seeder, which lets others download parts of that file from them.
• It’s a peer-to-peer system that makes sense in the growing blockchain world.
• 7 A-Rated Biotechs to Buy for the Long Run
• The introduction of the BTT token also makes it so that users can earn crypto while doing this.
• That’s possible through BitTorrent Speed.
• It increases the download speed users have available to them and also pays them in BTT for acting as seeds to other users.
• Adding crypto as a reward for seeding makes sense as previously there wasn’t much of an incentive to do so.
• That in turn increases the number of seeds, which opens up more users to download files through the service.
BTT is up 41.9% over a 24-hour period as of Tuesday morning.
Investors looking for more crypto news will want to stick around!
We’ve got all the latest happenings in the crypto space that traders need to know about for Tuesday. A few examples areBitcoinSV(CCC:BSV-USD) price predictions, a deeper dive intoEnjin Coin(CCC:ENJ-USD), as well as evaluatingCardano(CCC:ADA-USD) on its recent dip. You can get more info on these matters at the following links!
• Bitcoin SV Price Predictions: What Does Craight Wright’s Victory Mean for BSV Crypto?
• Enjin Coin Could Soar as Metaverse Games and NFTs Take Off
• While the Dip’s Alluring, It’s Time To Run the ‘Real’ Numbers on Cardano
On the date of publication, William Whitedid 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 postBTT Crypto: 11 Things to Know About BitTorrent as the Token Takes Off Todayappeared first onInvestorPlace. || GBP/USD Daily Forecast – Test Of Resistance At 1.3535: GBP/USDis currently trying to settle above the resistance at 1.3535 while U.S. dollar is losing ground against a broad basket of currencies.
The U.S. Dollar Index has recently managed to settle back below the support at 96.25 and is trying to gain additional downside momentum. In case this attempt is successful, it will head towards the support at 96 which will be bullish for GBP/USD.
Today, foreign exchange market traders will focus on theADP Employment Changereport from U.S. Analysts expect that ADP Employment Change report will show that private businesses hired 400,000 workers in December.
Traders will also take a look at the final reading of U.S.Services PMIreport for December. The report is expected to show that Services PMI declined from 58 in November to 57.5 in December.
Traders will also continue to monitor the developments in U.S. government bond markets. Treasury yields have pulled back from recent highs, which was bearish for the U.S. dollar. In case this pullback continues, the American currency will find itself under more pressure.
GBP/USD is testing the resistance level at 1.3535. In case this test is successful, GBP/USD will move towards the next resistance which is located at 1.3550.
A move above the resistance at 1.3550 will open the way to the test of the next resistance at 1.3575. In case GBP/USD manages to settle above this level, it will head towards the next resistance level at 1.3610.
On the support side, the nearest support level for GBP/USD is located at 1.3500 as recent trading sessions indicated that there is no significant level near 1.3515. If GBP/USD declines below the support at 1.3500, it will move towards the next support level at 1.3460.
A successful test of the support at 1.3460 will push GBP/USD towards the support at 1.3440. If GBP/USD gets below this level, it will move towards the next support level at the 50 EMA at 1.3420.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• MINA Rallies After The Release Of First Mina Foundation Annual Report || 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 Falls Toward $40K, Racks Up Longest Losing Streak Since 2018: Bitcoin fell for a seventh-straight day, the longest losing streak since 2018, slipping toward the key psychological threshold of $40,000.
As of press time bitcoin (BTC) was changing hands around $40,800, down 2.3% over the past 24 hours, based on CoinDesk pricing. Bitcoin’s stretch of losses is now the longest since the downdraft from July 30 through Aug. 4 in 2018.
The price hasn’t fallen below $40,000 since September 2021, and it’s well off the all-time high near $69,000 reached in November.
Launched in 2009, bitcoin celebrated its 13-year birthday last week, but there hasn’t been much of a party.
Crypto market analysts had warned recently thatbitcoin might be prone to a steeper sell-off, though there were somesigns late last week that the market might be stabilizing. January tends to be aseasonally weak month for bitcoin, but this year has been especially harsh, with the largest cryptocurrency down 11% so far in 2022.
The market was roiled last week by therelease of Federal Reserve minutessignaling that officials at the U.S. central bank were starting to discuss whether to take more aggressive steps to tackle aninflation rate now at its highest in almost four decades.
Many investors say bitcoin has benefited in recent years from the Fed’s ultra-loose, emergency monetary policy since the coronavirus hit the economy – including printing more than $4 trillion to bolster ailing traditional markets.
So areversal of those policiesis seen as a fresh headwind for bitcoin.
There’s also a narrative in the market that bitcoin trades like a risky asset, similar to tech stocks. And the Fed’s hawkish turn couldcurb appetite for high-risk, high-reward investments.
“Macroeconomic uncertainty has led to relatively low conviction from market players,” analysts at Coinbase Institutional, an arm of the biggest U.S. cryptocurrency exchange, wrote Friday in a weekly update.
The question now is when and where the bitcoin price will find a floor.
As of Friday the price was down 35% from the all-time high;previous drawdowns have reached levels of nearly 80%and it took the market months to recover.
Some bulls are still betting that the market is on the cusp of a fresh bull run, but analysts for the investment-research firm FundStrat say the market looks to have little near-term price support until it drops down to $39,570 – roughly where the price bottomed in September 2021.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 38743.27, 36952.98, 37154.60, 41500.88, 41441.16, 42412.43, 43840.29, 44118.45, 44338.80, 43565.11
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on 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)]
Argentina’s IMF bailout deal includes a wild clause that rips cryptocurrencies: Argentinean senators just approved a $45 billion bailout deal with the International Monetary Fund (IMF) on Thursday that will help the country avoid an imminent default on its debts. But that’s not the unusual part of the agreement. The deal, which was approved in a 56 to 13 vote, includes a wild provision that will force the government of President Alberto Fernández to take a tough anti-cryptocurrency stance. The clause was included in a letter of intent signed by Economy Minister Martín Guzmán and central bank president Miguel Pesce on March 3. It detailed Argentina’s efforts “to discourage the use of cryptocurrencies with a view to preventing money laundering, informality, and disintermediation” in order to “to further safeguard financial stability.” Argentina’s anti–money laundering regulator, the Unidad de Información Financiera (UFI) or Financial Information Unit, is taking action as a result, working to add cryptocurrency service providers to its list of entities subject to reporting customer transactions, the Buenos Aires Times reported this week. The deal still needs to be approved by the IMF’s executive board, but if it goes through, Argentina will have secured a payment-postponing grace period through 2026 and will immediately receive roughly $9.8 billion in the country’s 22nd agreement with the fund. That’s good news because Argentina was staring down a $2.8 billion payment due to the IMF by March 22, and a total of $39 billion in debt payments through 2023. Argentina’s precarious situation Argentina saw its annual inflation rate rise to a whopping 52.3% in February , and banks including JPMorgan Chase are forecasting consumer prices will increase more than 60% in 2022 as global commodity inflation hits home. "The rise in the price of commodities worldwide adds more fuel to the fire,” Isaías Marini, an economist at consulting firm Econviews, told Reuters . “The figure for March will probably be even higher than that for February.” In a speech to the senate this week, Economy Minister Guzmán said the deal will enable the country to avoid “a profound monetary and inflationary stress that would derail Argentina’s economic recovery and have consequences on poverty,” Al Jazeera reported . While many Argentinean senators applauded the move to secure financing, some have decried the economic strings attached. The IMF deal will not only require a tough stance on cryptocurrencies, but will also force a reduction in government deficits, an increase in interest rates, and significant cuts to energy subsidies. Vice President Cristina Fernández de Kirchner and a left-wing coalition of senators published a letter titled “Los Muertos no pagan las deudas” or “the dead don’t pay their debts” in a sharp rebuke against the deal on Thursday. Story continues Argentina’s rising inflation rate hasn’t only caused the country to seek financing from the IMF, it’s also led to a surge in users for crypto firms in the nation as consumers look to protect their paychecks. Two of the top crypto exchanges in the country, Lemon Cash and Ripio, boast millions of active users and have recently expanded their offerings of crypto credit cards that offer cash back in Bitcoin. This story was originally featured on Fortune.com View comments || MicroStrategy, Coinbase Thrashed as Cryptos Plunge; Bitcoin at $33,500: By Dhirendra Tripathi
Investing.com – MicroStrategy (NASDAQ:MSTR), Coinbase (NASDAQ:COIN) and other crypto-related stocks look set to extend last week’s losses as digital currencies take a beating amid rising geopolitical and economic uncertainties.
MicroStrategy stock fell 15% in Monday’s premarket trading after shedding nearly 18% Friday. Coinbase was down 11%. It lost over 13% in the last trading session.
Fears of a Russian invasion of Ukraine and rising interest rates are spooking the markets, triggering a sharp erosion in value of assets considered risky. Cryptos are leading the fall, followed by stocks. Bank of Russia’s proposal to ban cryptos is also adding to the rout.
Other crypto-related stocks being knocked down in the premarket session include Hut 8 Mining (NASDAQ:HUT) (14% down), Bit Digital (NASDAQ:BTBT), Riot Blockchain (NASDAQ:RIOT) and Marathon Digital (NASDAQ:MARA) (all losing 12%). ADRs of Argo Blockchain (NASDAQ:ARBK) plunged 15%.
Bitcoin (BitfinexUSD), the largest cryptocurrency by market cap, fell more than 7% and traded just above $33,500. The crypto has more than halved since touching a lifetime high of $68,990.6 on Nov. 10. Analysis by Korea-based site CryptoQuant suggests that over 38% of all Bitcoin ever mined is now trading at a loss, compared to a peak ratio of 34% during the previous selloff in the middle of last year.
Other cryptos were plunging on Monday, too. Shiba Inu SHIB/USD slumped 16%, Polkadot Polkadot 14%, Ethereum ETH/USD 12% and Dogecoin DOGE/USD 8%.
The latest slide in cryptos followed the crisis in Kazakhstan, where people protested against rising fuel prices. The central Asian country is the world’s second largest crypto miner.
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Texas, Washington, D.C. sue Google over location tracking practices || Coca-Cola Hits All-Time High: Dow component Coca-Cola Co. (KO) posted an all-time high on Tuesday, adding to two-month gains of nearly 20%. That’s quite an uptick for the normally slow mover, highlighting a broad rotation out of growth stocks and into safe havens that can, theoretically at least, withstand rising inflation. Price action has now cleared stubborn resistance at the February 2020 peak after a pandemic-driven revenue shock, driven by empty stadiums, movie theaters, and theme parks. Pricing Power Play Shareholders hope the beverage giant will play catch-up with rival PepsiCo Inc. (PEP) , which cleared a similar barrier during in the summer of 2021. Coke needs favorable economics and a reliable distribution network to prosper because it hasn’t diversified into non-beverage products, unlike PEP’s wide variety of snack foods. Management hasn’t helped this cause over the years, building a well-earned reputation for extreme risk avoidance. UBS analyst Sean King pounded the tables on Tuesday, wondering if Coca-Cola is the “pricing power play of 2022”. As he notes “We believe KO checks the boxes for the key drivers of pricing power in CPG: a) market share leadership, b) category/manufacturer concentration, c) limited exposure to private label, and d) a history of rational pricing competition. We believe KO’s unique pricing & franchise model could enable it to realize a greater increase in profit per concentrate gallon than the fully burdened increase in costs associated with selling that gallon”. Wall Street and Technical Outlook Wall Street consensus stands at a positive ‘Overweight’ rating based upon 15 ‘Buy’, 4 ‘Overweight’, 9 ‘Hold’, and 0 ‘Sell’ recommendations. Price targets currently range from a low of $58 to a Street-high $71 while the stock is set to open Wednesday’s session about $2 below the median $64 target. This modest placement predicts slow but meaningful upside in coming months, in line with the stock’s low volatility reputation. Story continues Coca-Cola roared in the 1990s, topping out at 44.47 in 1998. It finally returned to that resistance level 16 years later, entering a test that continued through 2020’s pandemic decline. The stock bottomed out in the 30s at that time and turned sharply higher, stair-stepping into the prior peak at the start of 2022. A six-week consolidation has now given way to higher prices, setting the stage for a rally into the upper 60s. The company currently pays a 2.71% annual dividend yield. Catch up on the latest price action with our new ETF performance breakdown . Disclosure: the author held Coca-Cola and PepsiCo in family accounts at the time of publication. This article was originally posted on FX Empire More From FXEMPIRE: Silver Tests Resistance At $23.20 While Gold Moves Towards $1830 Bitcoin and Ether Could Rally Again, BNB Nears Crucial Juncture The British Pound Trying to Break Out Against Yen Stock Markets Slightly Positive Ahead of the CPI These Are the 3 Biggest Differences Between a Cryptocurrency and a CBDC Bank of America Says Bitcoin Trades as a Risk Asset || BitMEX Co-founders Coconut Bribery Statement Labeled Joke by Jury: The crypto-verse owing to its relatively young nature with respect to the traditional markets has seen many controversies over the years. In a recent tussle between authorities and crypto exchange BitMEXs co-founder Arthur Hayes, a US District Judge blocked prosecutors from presenting the coconut bribery comment during the criminal trial of Hayes. A Bloomberg piece reported that a Manhattan federal judge held Thursday that a joke about bribing regulators made by Arthur Hayes, the former CEO of BitMEX, wont be seen by a jury at his upcoming New York trial. Whats The Matter? In October last year, Arthur Hayes, Benjamin Delo, and Samuel Reed were charged by the US Department of Justice with violating the Bank Secrecy Act and conspiracy to violate the act. The charges were shortly followed by the arrest of former CTO Reed, while Hayes gave himself up in Hawaii in April, following the surrender of co-founder Delo a month earlier. The joke about using a coconut to bribe officials in Seychelles was made by Hayes during a debate with economist Nouriel Roubini at the Asia Blockchain Summit in July 2019. When asked about operating in jurisdictions with little oversight, and about the Seychelles regulators operating on a different scale than those in other countries, Hayes responded by saying: It just costs more to bribe them. Furthermore, when Hayes was questioned about the amount he paid to bribe regulators in Seychelles, he said, a coconut. Around the same time, authorities came down strongly against Hayes as assistant FBI Director William Sweeney Jr. in a statement pointed out that Hayes said that the company was incorporated in a jurisdiction outside the US because bribing regulators in that jurisdiction cost just a coconut. Hayess statements were then used by prosecutors as evidence of the co-founders wish to avoid regulation after Hayes was accused in 2020 of allowing money laundering on BitMEX. Heres What Happens Next Judge John Koeltl was quoted as saying that Hayes spoke in a plainly jocular fashion and that the video of his comments is highly inflammatory because it suggests that there is bribery involved. Story continues BitMEX, a cryptocurrency exchange, and derivative trading platform, has reportedly been under investigation by the CFTC since at least July 2019 while Hayes and others accused face charges of evading US anti-money laundering rules. Last year in August, BitMEX reached a settlement with the CFTC and the Financial Crimes Enforcement Network, agreeing to pay a civil money penalty of as much as $100 million to resolve the charges related to investigations. For now, Hayes is scheduled to go on trial on the aforementioned charges on March 30, this year, along with co-founders Benjamin Delo and Samuel Reed. At the time of writing, the larger crypto market took a tumble as Bitcoin slipped below $38K while ETH saw the lower $2,800 level. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Markets Have Horrific Week Uniswap Plans To Deploy V3 to Every Ethereum Compatible Chain Silver Markets Have Explosive Week Neymar Jr. Becomes the Latest Celebrity to Enter the NFT Space Gold Markets Pull Back to Test Previous Resistance Gold Markets Attempt to Break Out for the Week || Fitch Downgrades El Salvador to CCC Weeks Before Bitcoin Bond Issue: Ratings agency Fitch has downgraded El Salvador’s long-term foreign currency issuer default rating (IDR) to CCC from B- weeks before the country starts issuing its bitcoin bond. The downgrade reflects “heightened risk stemming from increased reliance on short-term debt, limited scope for additional local market financing, uncertain access to additional multilateral funding and external market financing given high borrowing costs,” Fitch said in a report on Wednesday. The Central American nation faces close to $1.2 billion in external debt amortizations in 2023, with $800 million due in January, Fitch noted. Fitch also said that the country faces a financing gap of $1.2 billion in 2022, which will rise to $2.5 billion in 2023. “There is a high degree of uncertainty surrounding other sources of external financing, such as additional multilateral funding, given doubts surrounding an IMF program, as well as the capacity to issue bitcoin-backed bonds," the rating agency said, referring to the International Monetary Fund. El Salvador’s bitcoin-denominated Volcano Bonds offer a 6.5% coupon, compared with the 13% benchmark 10-year yield on El Salvador’s outstanding government bonds. Analysts previously told CoinDesk that the bonds are effectively a giant long on bitcoin rather than an expression of confidence in the financial prudence of President Nayib Bukele’s government. “Anyone buying this bitcoin-backed bond is betting on the cryptocurrency in a very big way, ignoring the credit market currently signaling that El Salvador is very much facing a distressed-debt situation,” Marc Ostwald, chief economist and global strategist at ADM Investor Services International (ADMISI), previously told CoinDesk. At the same time, proponents of the bond program, such as Samson Mow, the founder of Blockstream, the company that developed the bond, said that bitcoin is a way to disintermediate the sovereign debt market and give El Salvador access to cheaper capital. El Salvador’s bitcoin bond program is expected to be implemented by March 15 , according to its finance minister. Moody’s lowered the country’s foreign-currency issuer and senior unsecured ratings to Caa1 from B3 last July, citing El Salvador’s adoption of bitcoin as legal tender. Bukele had previously tweeted , colorfully, that he doesn't care about the opinions of ratings agencies, renaming the country 'El Hodlador' in a meme. CORRECTED (Feb. 10, 6:55 UTC) : Corrects second bullet to say "Central American" nation not "South American." || Concentrum Wealth Management Buys Apple Inc, Confluent Inc, Invesco DB Base Metals Fund, Sells ...: Investment company Concentrum Wealth Management ( Current Portfolio ) buys Apple Inc, Confluent Inc, Invesco DB Base Metals Fund, iShares U.S. Medical Devices ETF, First Trust Financials AlphaDEX Fund, sells Invesco DB Energy Fund, First Trust Low Duration Mortgage Opportunities ET, iShares MSCI Sweden ETF, iShares MSCI South Korea ETF, Myovant Sciences during the 3-months ended 2021Q4, according to the most recent filings of the investment company, Concentrum Wealth Management. As of 2021Q4, Concentrum Wealth Management owns 59 stocks with a total value of $191 million. These are the details of the buys and sells. New Purchases: CFLT, DBB, FXO, FXN, IYF, FVD, BRK.B, PFF, PSI, Added Positions: AAPL, IHI, QQQ, FV, TSLA, NVDA, MSFT, USMV, CIBR, GRID, SOXX, QTEC, MMLG, AMAT, NXTG, JNJ, QCLN, SNOW, GOOG, VTI, SPY, Reduced Positions: LMBS, AMZN, INTC, ORCL, FPE, FPX, GOOGL, FDN, EWN, EWT, Sold Out: DBE, EWD, EWY, MYOV, PLTR, PYPL, VOO, Warning! GuruFocus has detected 2 Warning Sign with PYPL. Click here to check it out. List of 52-Week Lows List of 3-Year Lows List of 5-Year Lows For the details of Concentrum Wealth Management's stock buys and sells, go to https://www.gurufocus.com/guru/concentrum+wealth+management/current-portfolio/portfolio These are the top 5 holdings of Concentrum Wealth Management Meta Platforms Inc ( FB ) - 174,896 shares, 30.78% of the total portfolio. Shares reduced by 0.1% Apple Inc ( AAPL ) - 115,961 shares, 10.77% of the total portfolio. Shares added by 163.31% First Trust NASDAQ-100 Technology Sector Index Fd ( QTEC ) - 40,746 shares, 3.73% of the total portfolio. Shares added by 1.07% BTC iShares MSCI USA Min Vol Factor ETF (USMV) - 86,285 shares, 3.65% of the total portfolio. Shares added by 2.97% First Trust Dorsey Wright Focus 5 ETF (FV) - 136,015 shares, 3.50% of the total portfolio. Shares added by 15.11% New Purchase: Confluent Inc (CFLT) Concentrum Wealth Management initiated holding in Confluent Inc. The purchase prices were between $59.07 and $93.6, with an estimated average price of $72.36. The stock is now traded at around $65.710000. The impact to a portfolio due to this purchase was 1.69%. The holding were 42,450 shares as of 2021-12-31. Story continues New Purchase: Invesco DB Base Metals Fund (DBB) Concentrum Wealth Management initiated holding in Invesco DB Base Metals Fund. The purchase prices were between $20.59 and $23.91, with an estimated average price of $21.51. The stock is now traded at around $23.100000. The impact to a portfolio due to this purchase was 1.29%. The holding were 110,889 shares as of 2021-12-31. New Purchase: First Trust Financials AlphaDEX Fund (FXO) Concentrum Wealth Management initiated holding in First Trust Financials AlphaDEX Fund. The purchase prices were between $43.88 and $48.28, with an estimated average price of $46.41. The stock is now traded at around $46.940000. The impact to a portfolio due to this purchase was 1.19%. The holding were 49,362 shares as of 2021-12-31. New Purchase: First Trust Energy AlphaDEX Fund (FXN) Concentrum Wealth Management initiated holding in First Trust Energy AlphaDEX Fund. The purchase prices were between $11.34 and $12.98, with an estimated average price of $12.32. The stock is now traded at around $13.870000. The impact to a portfolio due to this purchase was 0.88%. The holding were 140,413 shares as of 2021-12-31. New Purchase: iShares U.S. Financials ETF (IYF) Concentrum Wealth Management initiated holding in iShares U.S. Financials ETF. The purchase prices were between $82.75 and $89.95, with an estimated average price of $86.92. The stock is now traded at around $88.140000. The impact to a portfolio due to this purchase was 0.36%. The holding were 8,003 shares as of 2021-12-31. New Purchase: First Trust Value Line Dividend Index Fund (FVD) Concentrum Wealth Management initiated holding in First Trust Value Line Dividend Index Fund. The purchase prices were between $39.33 and $43.04, with an estimated average price of $41.2. The stock is now traded at around $42.220000. The impact to a portfolio due to this purchase was 0.12%. The holding were 5,438 shares as of 2021-12-31. Added: Apple Inc (AAPL) Concentrum Wealth Management added to a holding in Apple Inc by 163.31%. The purchase prices were between $139.14 and $180.33, with an estimated average price of $158.61. The stock is now traded at around $175.840000. The impact to a portfolio due to this purchase was 6.68%. The holding were 115,961 shares as of 2021-12-31. Added: iShares U.S. Medical Devices ETF (IHI) Concentrum Wealth Management added to a holding in iShares U.S. Medical Devices ETF by 179.70%. The purchase prices were between $61.5 and $66.31, with an estimated average price of $63.97. The stock is now traded at around $60.100000. The impact to a portfolio due to this purchase was 1.21%. The holding were 54,510 shares as of 2021-12-31. Added: PowerShares QQQ Trust Ser 1 (QQQ) Concentrum Wealth Management added to a holding in PowerShares QQQ Trust Ser 1 by 23.72%. The purchase prices were between $352.17 and $403.48, with an estimated average price of $386.05. The stock is now traded at around $368.490000. The impact to a portfolio due to this purchase was 0.56%. The holding were 14,004 shares as of 2021-12-31. Added: Microsoft Corp (MSFT) Concentrum Wealth Management added to a holding in Microsoft Corp by 21.05%. The purchase prices were between $283.11 and $343.11, with an estimated average price of $325.12. The stock is now traded at around $313.460000. The impact to a portfolio due to this purchase was 0.12%. The holding were 3,899 shares as of 2021-12-31. Added: Johnson & Johnson (JNJ) Concentrum Wealth Management added to a holding in Johnson & Johnson by 21.87%. The purchase prices were between $155.93 and $173.01, with an estimated average price of $163.78. The stock is now traded at around $172.770000. The impact to a portfolio due to this purchase was 0.03%. The holding were 2,095 shares as of 2021-12-31. Sold Out: Invesco DB Energy Fund (DBE) Concentrum Wealth Management sold out a holding in Invesco DB Energy Fund. The sale prices were between $15.35 and $18.72, with an estimated average price of $17.45. Sold Out: iShares MSCI Sweden ETF (EWD) Concentrum Wealth Management sold out a holding in iShares MSCI Sweden ETF. The sale prices were between $43.08 and $47.43, with an estimated average price of $45.48. Sold Out: iShares MSCI South Korea ETF (EWY) Concentrum Wealth Management sold out a holding in iShares MSCI South Korea ETF. The sale prices were between $74.16 and $80.32, with an estimated average price of $77.78. Sold Out: Palantir Technologies Inc (PLTR) Concentrum Wealth Management 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. Sold Out: Myovant Sciences Ltd (MYOV) Concentrum Wealth Management sold out a holding in Myovant Sciences Ltd. The sale prices were between $14.31 and $23.87, with an estimated average price of $19.02. Sold Out: PayPal Holdings Inc (PYPL) Concentrum Wealth Management sold out a holding in PayPal Holdings Inc. The sale prices were between $179.32 and $271.7, with an estimated average price of $214.83. Here is the complete portfolio of Concentrum Wealth Management. Also check out: 1. Concentrum Wealth Management's Undervalued Stocks 2. Concentrum Wealth Management's Top Growth Companies, and 3. Concentrum Wealth Management's High Yield stocks 4. Stocks that Concentrum Wealth Management keeps buyingThis article first appeared on GuruFocus . || Powell Testimony Could Be Source of US Dollar Volatility: The U.S. Dollar is trading higher against a basket of major currencies early Wednesday as the crisis in Ukraine continues to pressure the highly weightedEuroandBritish Pound. The dollar is also trading higher against the safe-haven Japanese Yen, but lower against theCanadian Dollar. Against the safe-havenSwiss Franc, the dollar is trading flat.
At 06:17 GMT, March U.S. Dollar Index futures are trading 97.470, up 0.064 or +0.07%. On Tuesday, theInvesco DB US Dollar Index Bullish Fund ETF (UUP)settled at $26.06, up $0.18 or +0.70%.
The greenback is also being supported by a slight rise in U.S. Treasury yields as investors prepare for Fed Chair Powell’s testimonies to Congress on Wednesday and Thursday, for any indication on whether the Russia-Ukraine conflict will affect the central bank’s plans for tightening monetary policy.
Ahead of Powell’s testimony, the market volatility appears to have encouraged some traders to dial back expectations of a50-basis point rate hike. On February 10, the chances of that happening stood at about 80%. Today, the chances are nearly zero percent.
The main trend is up according to the daily swing chart. A trade through 97.735 will signal a resumption of the uptrend. A move through 95.650 will change the main trend to down.
The index is trading inside last Thursday’s wide range, making its 50% level at 96.995 support.
The minor range is 95.650 to 97.735. Its 50% level at 96.695 is additional support.
The short-term range is 95.145 to 97.735. Its 50% level at 96.440 is the key support.
The direction of the March U.S. Dollar Index on Wednesday is likely to be determined by trader reaction to 96.995.
A sustained move over 96.995 will indicate the presence of buyers. If this continues to generate enough upside momentum then look for a possible surge into last week’s high at 97.735. This is a potential trigger point for an acceleration to the upside with 98.500 the next likely target.
A sustained move under 96.995 will be a sign of weakness, but sellers will have trouble at 96.695 and 96.440. The latter, however, is a trigger point for an acceleration to the downside with the next target coming in at 95.650.
Even if the main trend changes to down, the retracement zone at 95.470 to 94.930 is expected to provide support.
Fed Chair Powell could cause some volatility on Wednesday if he tells Congress that policymakers could consider passing on any rate hike at its March 15-16 meeting if the situation in Ukraine escalates or if Russia brings the fight to U.S. soil.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• Barcelona FC Eyes NFTs and the Metaverse after Fan Token Surge || Biden set to sign widely awaited order to study crypto, digital dollar: President Joe Biden on Wednesday will officially sign an executive order directing agencies to study cryptocurrencies and a central bank digital currency (CBDC), and come up with a government-wide approach to regulating digital assets.
The long-awaited order lays out a national policyfor digital assets across priorities, including, consumer and investor protection, financial stability, illicit finance, maintaining U.S. leadership in the global financial system and financial inclusion.
The move was originally expected last month, a source previously told Yahoo Finance, but the timetable was derailed by the ongoing Russia-Ukraine crisis. In early Wednesday dealings, Bitcoin (BTC-USD) and other digital coins were higher, tracking stocks in tenuous trading.
“We need to be clear-eyed that earlier forms of financial innovation have ended up hurting American families, while making a small group of people very rich, which underscores the need for robust consumer protection,” said a senior administration official.
The order will direct the U.S. Treasury to lead a report on a CBDC, in consultation with the Departments of Justice, State, Commerce, Homeland Security, Office of Management and Budget and Director of National Intelligence, to analyze whether a digital dollar is sound policy for the U.S. to pursue.
The administration is looking atCBDC pros and cons, as the U.S. looks to maintain the dollar’s central role in the international global financial system.
The White House supports the Federal Reserve’s efforts to explore a CBDC. In January the Fed issued a white paper exploring the pros and cons of issuing a digital dollar, while theBoston Fed is studying the mechanics of designingone best suited for use in the U.S. economy, should officials pursue one.
The DOJ is also tasked with determining whether a new law is needed to issue a CBDC, something China has already done with its digital yuan. Fed Chair Jay Powell has said Congress would need to authorize the central bank to issue a similar token.
“China might have been the first large, industrialized nation to launch a CBDC with the digital yuan, but it will not be the last. Far from it,” noted deVere Group’s Nigel Green.
“Indeed, the U.S. now appears to be playing ‘catch up,’” he said, calling digital currencies “are an inevitability in the ever more digital world that we live in.”
Meanwhile, the Office of Science Technology Policy will do an analysis of the technical aspects of a CBDC, and work with the Environmental Protection Agency on analysis of the environmental impact of digital assets.
The order also directs Treasury Secretary Janet Yellen, along with other agencies, to produce a report on the future of money and payment systems, and include the potential impact on economic and financial growth, inclusion and national security.
Treasury is also tasked with leading a report in consultation with federal banking regulators – along with the FTC, SEC and CFTC–on what measures to take to protect consumers, investors and businesses. Recently, awave of fraud, theft, and cyberattacksof crypto assets have left investors holding the bag.
The Financial Stability Oversight Council (FSOC), created after the 2008 financial crisis to monitor risks to the system, will be asked to study what systemic risks digital assets pose to the financial system, with a focus on runs and what can be done to prevent them. The President’s Working Group on Financial Markets has already tasked the FSOC with looking into systemic risks of stablecoins.
The government will also work on coordinating crypto regulations internationally to prevent gaps in regulatory supervision, ensure compliance across jurisdictions, and guard against arbitrage in crypto cross border.
Senior administration officials say the insufficiency of international implementation of anti-money laundering networks and frameworks is the greatest vulnerability of the crypto ecosystem, which criminals are exploiting.
While there are suspicionscrypto could be used to evade sanctions on Russia, the White House insists crypto is not a viable workaround for those penalties. The administration is continuing to take action started before Russia’s invasion, including under law enforcement and existing Treasury authority, as part of the U.S. anti-ransomware strategy that’s been underway for several months.
The EO also seeks to push innovation and promote U.S. economic competitiveness and leadership in the global financial system by directing Commerce to work across the government to create a crypto competitiveness framework.
Cryptocurrencies have exploded in growth, topping $3 trillion in market cap last November, up from $14 billion just five years prior, butrecent volatility in the sector has shaved that figureto under $2 trillion. Surveys suggest that around 16% of American adults – approximately 40 million people – have invested in, traded, or used cryptocurrencies.
Studies will last 90-180 days on average. After the studies are complete, the Treasury will collect the information and then make recommendations on what to do next.
While the president’s order won’t make actual policy yet, it’s a step towards offering clarity for the crypto industry, which is starving for rules of the road and is disrupting the banking industry and global payment system.
The president’s executive order comes after the President’s Working Group on Financial Markets – composed of all major financial regulatory agencies – tasked Congress with coming up with a new regulatory framework to oversee stablecoins while recommending that only banks should be allowed to issue stablecoins. Stablecoins, a variety of cryptocurrencies, are tied in value to a fiat currency like the U.S. dollar or Euro to counter volatility.
At the same time, the Securities and Exchange Commission and Commodities Futures Trading Commission are looking at how to regulate crypto and whether the digital tokens should be classified as securities or commodities, though no formal rules have been proposed.
Members of Congress are slowly putting forth or soon expected to put forth legislation to regulate cryptocurrencies, though none yet appears to have a chance of being signed into law this year.
• Read the latest financial and business news from Yahoo Finance
Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn, andYouTube || Fantom Price Loses Over 7% After new Governance Proposal: The value of the Fantom ( FTM ) token has dropped by over 7% in the past 24 hours to around $1.91. This comes amidst the announcement of a new governance proposal for the platform. Fantom Makes new Governance Proposal The next-gen layer-1 smart contract network seeks to reduce the number of self-staked token amounts needed to run a validator node. The Fantom community put up a new governance proposal to lower the self-staked amount required to run a validator node. These are the proposed options: – 50k FTM – 100k FTM – 250k FTM Head over to https://t.co/CiAIeaJy05 to vote! pic.twitter.com/ioRepXVJ8b — Fantom Foundation (@FantomFDN) February 2, 2022 There are three proposed options in place, which are 50k FTM, 100k FTM, and 250k FTM. So far, most people have voted for 100k FTM, but the percentage of the vote is still far below what it’ll take to reach a quorum. Most networks require only half or even less than half of token holders to have a quorum. But Fantom requires 90% of token holders to vote. So far, only 13.27% have voted. Fantom describes itself as an open-source, high-performance, scalable smart contract platform. It overcomes the limitations of older blockchains while remaining permissionless and open source. It’s also faster and more cost-efficient than older networks because of its aBFT consensus mechanism Lachesis. The platform is compatible with Ethereum but solves the problem of scalability that users face when using the network of the second-largest crypto asset by market cap. Unlike Ethereum, where every decentralized application is built on the network, Fantom gives applications its blockchain network . The proof of stake network has grown significantly since its mainnet launch in 2019. With this new proposal, the network seeks to become more decentralized by giving more people the opportunity to become validators. Story continues FTM Quorum Demands “Unrealistic” Presently, the minimum amount to become a validator on the network is 1 million FTM. That’s almost $2 million going by the current value of the token. Therefore, a reduction will see more nodes and greater decentralization. However, whether or not this will happen depends on whether a quorum is reached. Given the 90% requirements for a quorum, the chances are pretty slim. According to some of the token holders on Twitter , a 90% quorum is unrealistic. One, in particular, pointed out that they had a similar proposal some weeks ago, which failed because the quorum couldn’t be reached. As for the FTM token, it’s unlikely that the governance proposal affected its price action. The price performance has been negative for the past 30 days, with over a 32% decrease. The drop in the last 24 hours only continues the trend. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin and Ether Turn Red, DOT Could Nosedive Why Meta Platforms Stock Is Down By 23% Today The Solana Ecosystem Incorporates Web3Auth Infrastructure Stablecoin Sector Can Use Regulatory Scrutiny to Its Own Advantage Silver Tests Support At $22.10 US Dollar Crashes Into Resistance || Elizabeth Warren’s anti-crypto crusade splits the left: Democratic lawmakers are entering a crypto collision course. Questions around how to police digital currency and whether to support its adoption are driving a rift not just between the party's liberal and centrist wings but also among progressives who often see eye-to-eye on financial regulation. Sen. Elizabeth Warren of Massachusetts — who has long led the left's charge to crack down on banks and Wall Street — has emerged as one of the party's most vocal cryptocurrency critics, warning that it exposes consumers to danger, is ripe for financial crimes and is an environmental threat because of its electricity usage. But a new generation of progressives — and a number of other senior Democrats — are embracing the startup industry. They're arguing against regulations that could stifle what proponents say is a new avenue for financial inclusion and a breakthrough alternative to traditional banks. “The project of radically decentralizing the internet and finance strikes me as a profoundly progressive cause,” Rep. Ritchie Torres (D-N.Y.) said in an interview. “You should never define any technology by its worst uses. ... There's more to crypto than ransomware, just like there's more to money than money laundering.” The simmering conflict is set to intensify in the coming months. President Joe Biden last week asked federal agencies to start solidifying the federal government's approach to crypto, framing the step as supportive of innovation rather than an industry crackdown. The price of Bitcoin surged on the news. Separately, Democratic lawmakers have started to draft a host of crypto regulation bills that are also exposing a wide range of views on the government's role in the $1.7 trillion market for digital assets. The lack of consensus among Democrats means it's unlikely Congress will act anytime soon to pass major legislation laying out the direction of regulation of the new market. Some Democrats and lobbyists had expected initial votes early this year, but that timeline has slipped. Story continues Crypto watchers got a preview of the split last year, when Democrats including Senate Finance Chair Ron Wyden of Oregon fought to scale back a tax provision in what became Biden's bipartisan infrastructure law that imposed new reporting requirements on virtual currency trading. “It's fair to say there's different perspectives on how to handle the space overall,” said Rep. Josh Gottheime r (D-N.J.), who has authored industry-supported legislation that would establish rules for cryptocurrency known as stablecoins , whose value is tied to an underlying asset like the dollar. The emerging enthusiasm for crypto among many Democrats is in stark contrast to the views of senior progressive lawmakers such as Warren, Senate Banking Chair Sherrod Brown (D-Ohio) and Rep. Brad Sherman (D-Calif.), who have been ratcheting up criticisms about risks to consumers and the financial system. Warren, who has been looking at developing a comprehensive crypto bill, has recently warned that Russian leaders and billionaires may use digital currency to evade sanctions imposed after the invasion of Ukraine. The industry counters that the risk is being overhyped. Treasury officials also say there’s been little evidence of Russians using the relatively small crypto market to sidestep sanctions. Warren led a letter to Treasury on the issue earlier this month and was joined by Brown, Sen. Mark Warner (D-Va.) and Sen. Jack Reed (D-R.I.). It's Warren's latest attempt to highlight what she and other opponents see as a lack of regulation in the market. “The banks have not served the American public well,” Warren told reporters when asked if she sees any societal benefits to crypto. “There's a reason that crypto takes hold in some areas because the banks have continued to impose fees on transactions at a time when the cost of transactions should be dropping fast. However, substituting an unregulated, unverified system in which scammers and cheats and terrorists mix in with ordinary consumers and no one can tell who's on the other side of a transaction is not a safe substitute.” The clash can be explained in part by cryptocurrency's growing influence in Washington and in members' districts. The industry is amassing an army of lobbyists and recruiting former Democratic lawmakers and regulators to advance its cause. It comes as crypto startups have set up shop across the country, with state and local leaders seeking to become the home for the businesses and the jobs. Rep. Jim Himes (D-Conn.) said the crypto industry has become big enough that “some of us are taking a parochial notice of these businesses.” He cited the decision by Digital Currency Group — a so-called crypto conglomerate — to move its headquarters to his state. “I'm not alone,” he said. “There's all kinds of well-funded cryptocurrency businesses popping up all over the country. ... People are taking a parochial interest because while all of us sense we won't know exactly what it will look like, there's going to be jobs associated with this technology.” Torres, a freshman member of the Congressional Progressive Caucus, said New York City — which he represents — should embrace crypto if it wants to remain the financial capital of the world. Among local leaders, Mayor Eric Adams is one of the country's most outspoken crypto backers — going as far as converting his salary into Bitcoin and Ether. Torres said crypto and the underlying blockchain technology “have the potential to lead to a better and cheaper and faster payments system” that could, for example, help a Dominican immigrant in his South Bronx district send remittances with minimal fees and delays. He said regulation should be “surgical” and that significant moves by federal agencies without direction from Congress would be a “power grab.” There's a “kind of anti-crypto xenophobia” among some regulators and lawmakers, he said. “The future of finance and the internet should not be left to a gerontocracy of regulators who appear to be on a personal crusade against crypto,” Torres said. “Congress, which has a new generation of legislators, should have the final word.” A number of Democrats are focused on the possible opportunities crypto may have in reaching Americans — particularly people of color — who have traditionally been overlooked by the banking system. A survey commissioned late last year by venture capital giant Andreessen Horowitz — a major investor in crypto startups — found that 30 percent of Black Americans and 27 percent of Hispanic Americans said they owned cryptocurrency, compared to 20 percent of Americans overall. “We are already seeing some of the hopeful, optimistic possibilities in cryptocurrency,” Sen. Cory Booker (D-N.J.) said at a hearing last month, calling it a “democratizing” force that offers “a lot of hope.” Morgan Harper, a former senior adviser at the Consumer Financial Protection Bureau, an agency devised and launched by Warren, has touted crypto's potential economic benefits for Ohio residents as she runs for the Democratic nomination in the state's U.S. Senate race. She has argued that a decentralized financial system like the one powering crypto could be better for consumers than a system dominated by intermediaries like banks. “We have some people in Washington who are already elected who have their views,” she said in an interview. “But there are a lot of other people like me who are in learning mode.” Sam Sutton contributed to this report.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 41247.82, 41078.00, 42358.81, 42892.96, 43960.93, 44348.73, 44500.83, 46820.49, 47128.00, 47465.73
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Identabit Challenges Bitcoin and BitShares: SYDNEY, AUSTRALIA / ACCESSWIRE / October 9, 2015 /Australian startup Thinking Active, led by New York software entrepreneur John Underwood, today revealed plans forIDentabit, an identity-based alternative to Bitcoin. Designed to liberate decentralized currencies, IDentabit enables regulatory acceptance and viral adoption by way of user association.
IDentabit has been a year in the making, made possible by a collaboration between Thinking Active and Virginia-based U.S. software partnerCryptonomex, Inc., led by Dan Larimer, principal architect of the Blockchain 2.0 project,BitShares.
BitShares was the first chain to introduce DACs (Decentralized Autonomous Corporations), smart contracts, a decentralized exchange, and DPoS (Delegated Proof of Stake), a highly efficient, rapid, and scalable means of block confirmations.
"With the increased regulatory attention directed at Bitcoin, brought on by the stream of crime empowered by anonymity, we concluded that there was a need for a chain that enabled AML/CTF compliance, enhanced funds security, denial of crimes empowered by anonymity, and ensured security of transfer by way of user association," Underwood explained. "We realize that this is the beginning of a long journey, but believe the time is right to recognize the might and purpose of compliance."
"While we respect Bitcoin and the purpose of anonymity, we see benefits in offering the market a choice between anonymity and identity, a choice that enables growth across a broader range of use cases," Underwood said.
IDentabit is best described as a permission-based ledger that enables proof of reserve without subjecting transactions to public scrutiny. IDentabit addresses P2P/AML/CTF compliance, Privacy (zero public scrutiny), user issued funds transfer, and decentralized transparent governance. It also introduces sustainable funding by way of Proof of Appreciation, enabling progressive issuance that only occurs in conjunction with favorable market conditions.
While the concept of identified transactions is simple to appreciate, actually implementing identity by way of a decentralized blockchain is not a trivial problem. "We could not have found this solution without the combined perseverance of our respective teams," Underwood said.
Of equal importance to compliance is scale: using DPoS the team was able to benchmark transaction capacity that exceeds four times that of Mastercard's claimed 24,000 TPS. Underwood pointed out, "As disruptors, we need scale if we are going to replace existing payment networks with P2P transactions. While we understand Bitcoin can get beyond 7 TPS, none of us has time to wait for Bitcoin's organic crawl to address issues of speed and compliance."
The timing of IDentabit's release has been motivated by growing interest in blockchain technology by institutions collaborating with IBM and Ethereum. These teams are intent on building institutionalized identity-based alternatives.
Ironically to buy time, these projects depend on the crypto-community's loyalty to anonymity. This loyalty has led to widespread acceptance of an assumption that for decentralized currencies to be disruptive, digital currencies must put ideology before security and compliance. This blind assumption has, until now, blocked the innovation required to compete with emerging institutional alternatives.
"We believe that if we don't act now to protect decentralized currencies with an identity-ensured alternative to Bitcoin, we are handing the keys of change to the very organizations we sought to disrupt in the first place," Underwood said.
Contact Thinking Active:
John [email protected] Active 44 Market St , Level 6 Sydney NSW 2000 Australia
SOURCE:Thinking Active || Barclays Partnership With Chainalysis Ushers In New Era For Fintech: On Wednesday, at the culmination of the Barclays Accelerator program, Barclays PLC (ADR) (NYSE: BCS ) announced a new partnership with startup Chainalysis. The partnership is seen as an opportunity with the potential to further open up the traditional finance sector to bitcoin firms. Bitcoin businesses have long found it difficult to engage with banks, as traditional finance has been wary of the risks that come with dealing in cryptocurrencies. However, with one of the UK's largest banks onboarding Chainalysis to its compliance department, many see a union between cryptocurrencies and traditional finance on the horizon. Mitigating Risks Barclays' partnership with Chainalysis is expected to help the bank better understand and cope with the risks of dealing with bitcoin firms. The startup is expected to work together with Barclays to find ways for firms within the cryptocurrency industry to meet traditional banks' strict compliance standards. Related Link: Blockstream To Launch Sidechain Worries about money laundering and illegal transactions have kept many banks from dealing with the industry, but Chainalysis says it has developed several products that make it easier for banks to perform checks on bitcoin customers. Mutual Benefit The partnership between Barclays and Chainalysis is a big step for both firms. For Barclays, working with Chainalysis gives the bank a leg up against competitors as the firm is able to stay on top of evolving trends in the finch space. Chainalysis has gained major exposure from the deal, and the company says it hopes other finance institutions will follow suit and use some of Chainalysis' products as the cryptocurrency space continues to grow. Image Credit: Public Domain See more from Benzinga AXA Interested In Bitcoin's Potential Barclays Becomes First Big U.K. Bank To Accept Bitcoin Emerging Market Shares Battered: Is It Time To Buy? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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 to investors' fear of missing out (FOMO) , while others such as "Fast Money" trader Brian Kelly point to ecosystem headlines like the Winklevoss twins launching their exchange and the Digital Currency Group announcing funding from 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 More Why 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." Story continues Read More Bitcoin 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. Martindale tweet. Others worry that the cycle of mainstream media coverage on bitcoin's price will recreate a story they've seen before: Lopp tweet. More From CNBC Top News and Analysis Latest News Video Personal Finance || 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 || 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. || 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.
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 organised 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) || 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 || New York exchange itBit says won 5 blocks of U.S. bitcoin auction: (Adds details, paragraph on Genesis Trading which did not win this auction, bitcoin price, byline) By Gertrude Chavez-Dreyfuss NEW YORK, Nov 9 (Reuters) - New York-based bitcoin exchange itBit said on Monday it won five blocks of the digital currency at last week's auction conducted by the U.S. Marshals Service. The bid by itBit was organized on behalf of a syndicate of the exchange's and over-the-counter trading clients, said Bobby Cho, director of trading at itBit, in an email to Reuters. The five blocks of the virtual currency may have added up to at least 10,000 bitcoins. Cho declined to make further comments. Last week's auction included 21 blocks of 2,000 bitcoins and one block of over 2,341. The U.S. government on Thursday held its final auction of bitcoins seized during the prosecution of the creator of Silk Road, an online black market where the virtual currency could be used to buy illegal drugs and other goods. It auctioned 44,341 bitcoins last week. When contacted for comment, the U.S. Marshals Service said it was not anticipating further announcements on Monday. itBit also won part of the U.S. government's auction in March, nabbing 3,000 of the 50,000 bitcoins auctioned. In May, itBit became the first virtual currency company to receive a charter to operate as a trust company in the state of New York. Meanwhile, Genesis Global Trading, a unit of Digital Currency Group founded by prominent bitcoin investor Barry Silbert, was informed by the U.S. Marshals Service that the company did not win any of the blocks up for auction, the company's chief executive officer, Brendan O'Connor, said in an email to Reuters on Monday. In late trading on Monday, bitcoin was trading up 1.8 percent on the day at $379.27 on the BitStamp platform. That put the value of the 44,341 bitcoins auctioned at about $16.8 million. Bitcoins are used as a vehicle for moving money around the world quickly and anonymously via the Web without the need for third-party verification. Last Thursday's auction drew just 11 registered bidders and 30 bids, a decline from the March sale, which attracted 34 bids from 14 registered bidders. (Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Nate Raymond; Editing by Diane Craft and Jonathan Oatis) || Bitcoin is exploding higher, but no one can agree on why: traders (REUTERS) Bitcoin gained another 6% Wednesday, reaching a new high for the year. The cryptocurrency reached the $450 mark late in the day before falling back to $425. That's compared with around $250 a month ago. What's behind this? Investors and brokers can't agree. In the last few days, explanations have included a rise in demand from China, an upcoming auction by US Marshals of seized bitcoin, and the influence of a convicted Ponzi schemer 's latest gambit. Another catalyst for recent appreciation comes from Europe, says Adam White, vice president and product manager at Coinbase, one of the biggest bitcoin exchanges globally by volume. The European Court of Justice recently ruled that the cryptocurrency is exempt from the region's "value added tax," which White compared to the decision by US taxation authorities in the 1990s to not implement taxes on goods sold online. What is certain is that use of bitcoin by consumers and trading is broadly on the rise. "There has been a steady increase in the number of transactions processed on the bitcoin blockchain," White says. In the last two years, the number of bitcoin transactions has increased threefold from 50,000 daily to about 140,000 today, according to Blockchain.info, which tracks bitcoin data. It is true that Chinese investors are eager to trade bitcoin, White says. In the US, between 300,000 and 500,000 bitcoin are traded daily, White said. But in China, that daily figure has been closer to 1 million to 1.2 million. That isn't to say US investors are neglecting the currency. There has been a three-times increase in the relative trading volume by what are referred to as "High Net Worth" traders on Coinbase's trading platform people making trades in dollar amounts worth up to six figures, White said. Perhaps most telling at least about the recent jump is that there's been a recent surge in trading, sharp rise in new user sign-ups, according to White. So what's behind the recent surge in bitcoin? Maybe just the surge in bitcoin. NOW WATCH: 'The Art Of War' holds the keys to success on Wall Street More From Business Insider Bitcoin is going nuts The Money Of The Future Will Look More Like Bitcoin Than The Paper We Carry Around Today Even As Bitcoin Gets Obliterated, Retailers Say They Will Still Accept It As A Form Of Payment View comments
[Random Sample of Social Media Buzz (last 60 days)]
Average Bitcoin market price is: USD 276.04, EUR 244.00 || LIVE: Profit = $478.03 (1.18 %). BUY B148.37 @ $272.74 (#BTCe). SELL @ $277.00 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000003
Bittrex: 0.00000004
Average $1.0E-5 per #reddcoin
00:30:01 || In the last 10 mins, there were arb opps spanning 18 exchange pair(s), yielding profits ranging between $0.00 and $83.86 #bitcoin #btc || Current price: 325.68$ $BTCUSD $btc #bitcoin 2015-10-30 06:00:05 EDT || LIVE: Profit = $177.23 (1.31 %). BUY B40.97 @ $330.00 (#Kraken). SELL @ $335.69 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || #RDD / #BTC on the exchanges: Cryptsy: 0.00000003 Bittrex: 0.00000003 Average $1.1E-5 per #reddcoin 12:45:00 via #p…pic.twitter.com/k0YmCwXjRd || ¡Prepárate para nuestra #BlackFriday rebaja, el 27 de noviembre. Desde 10:00-12:00 a.m CET puedes comprar #bitcoin a cargo de servicio 0%! || Current price: 165.9£ $BTCGBP $btc #bitcoin 2015-10-15 03:00:08 BST || $464.71 at 19:45 UTC [24h Range: $372.63 - $502.00 Volume: 95239 BTC]
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Trend: up || Prices: 377.32, 362.49, 359.19, 361.05, 363.18, 388.95, 388.78, 395.54, 415.56, 417.56
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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 2015-05-11]
BTC Price: 242.16, BTC RSI: 55.01
Gold Price: 1183.20, Gold RSI: 46.47
Oil Price: 59.25, Oil RSI: 61.40
[Random Sample of News (last 60 days)]
Midas Rezerv Announces the First Gold-Backed Currency on the Bitcoin Blockchain: BANGKOK, THAILAND / ACCESSWIRE / April 24, 2015 / Midas Rezervhas launched a more efficient way to trade physical gold. Trade gold for very low fees and the transparency of blockchain technology. Every Midas Rezerv token is 100% backed by 1 gram of gold.
TheMidas Rezervteam has launched a decentralized distributed 100% physical gold-backed token platform designed to enhance investments, trading, capital preservation, and payments in physical gold represented by its digital equivalent. The gold holdings are stored in non-bank, fully-insured vaults located in Free Trade Zones, with a permanent proof of holdings available for public access online and via the blockchain.
Midas Rezerv aims to disrupt $500 Billion private investment gold market by offering decentralized trading and gold distribution ecosystem on bitcoinblockchain. Current physical gold investing has high premiums to buy, discounts to sell, along with storage and insurance fees. Midas Rezerv offers individuals a cost-effective and secure solution to own, trade, and pay with physical gold in a new fashion, based on decentralized bitcoinblockchain design. Each MRCoin is backed by 1 gram of real investment gold bullion, which is fully auditable in real time, and is digitally marked to specific vault location that it is stored in. Midas Rezerv offers very low transaction fees.
"Midas Rezerv brings together 6 years of blockchain technology with 6000 years of gold history. Now anybody can own and securely store physical gold within the reach of a smartphone, and conduct trading and payments in gold within seconds and at a very low cost. If you own MRcoin, you own the gold."
-Alexi Lane, Founder of Midas Rezerv-
MRCoin works as a bearer-bond coin and is the perfect safe haven to preserve and transfer value, use as trading asset, or as a method of payment. It is redeemable for gold or cash through authorized dealers and bitcoin exchanges.
Midas Rezerv will be working with some of the top cryptocurrency exchanges from around the globe. Initial trading of MRCoins vaulted in Amsterdam (MRCAM), has commenced onMaster Exchange. Midas Rezerv will be creating easy entry and exit points for gold traders and long-term investors to work in the market for both bitcoin and fiat currencies. Midas Rezerv is working directly with top-tier storage vaults from around the globe, and has currently secured relationships with vaults in Amsterdam, Dubai, and Hong Kong.
Midas Rezerv platform is created and maintained byAmilabs, Ltd., a blockchain development company specializing in Bitcoin 2.0 infrastructure. You can learn more about Midas Rezerv athttps://midasrezerv.com/.
For Direct Inquiries contact Alexi Lane [email protected] Marketing [email protected].
For Telephone inquiries call: +852-8197-GOLD
SOURCE:Midas Rezerv || Trading Internet earnings: 7 plays on mainstays: Facebook (NASDAQ: FB) reeled after earnings on Wednesday, but some CNBC "Fast Money" traders would be quick to scoop up the stock. The social media giant dropped 2 percent in extended trading after it reported first-quarter revenue that missed analysts' expectations. But as the company's monthly active users in March rose 13 percent year-over-year, to 1.44 billion, trader Brian Kelly would buy on the slide. "If you can't monetize that, then you really shouldn't be in any type of business whatsoever. So, on weakness, you buy Facebook," Kelly said. Read More Facebook user growth crushes estimates Trader Pete Najarian agreed that the stock has upside. "I think tomorrow morning, as the dust settles, we're going to start to see really what the direction of Facebook is going to be," he said. But trader Dan Nathan expressed more skepticism. He noted that user growth and ad revenue on mobile platforms may start to reach a saturation point. He said he preferred Google stock to Facebook. EBay (NASDAQ: EBAY) -another Internet name that reported on Wednesday-soared in extended trading. The company beat Wall Street's earnings and revenue expectations, driven by strong growth in its PayPal service. Read More EBay jumps after beating Street on profit, revenue The stock popped 5 percent in after-hours to roughly $60 per share. Trader Guy Adami believes eBay shares could "make the push to the next level." The company also said the previously announced split of eBay and PayPal into separate publicly traded companies would take place in the third quarter. Nathan noted that he would look to take a long position in an independent PayPal and short eBay, as its core marketplace segment fell off 4 percent year-over-year. Disclosures: Pete Najarian Pete Najarian is long AMAT, AAPL, BABA, BAC, BMY, BP, CSX, DISCA, FOXA, GE, KKR, KO, LLY, LOCO, MBLY, MRK, PEP and PFE. He is long calls AAPL, BK, DAL, EBAY, EEM, F, FB, FL, GE, GS, HZNP, IMAX, JBLU, KO, MAC, MYL, NEE, NTAP, OC, PBR, PFE, RAD, SYY, TEVA, TSX, UA, UAL, VZ, XLF, XOM and ZIOP. Today, he bought IMAX calls. Today, he bought EBAY calls. Today, he sold AMGN calls. Today, he bought AAPL calls. Today, he bought FB calls. Dan Nathan Dan Nathan is long BBRY June call spread, EBay May/July call spread, IWM May put fly, KO April 24th call fly, LULU May puts, M May call spread, NKE call spread, QQQ May 108/ 98 put spread, SHAK, T, TWTR, WMT June call spread, XLP May put spread and XLY May puts. Today, he bought EBay May/July call spread. Story continues Brian Kelly Brian Kelly is long BTC=, CTRL calls, GSG, BBRY, SPY puts and U.S. dollar. He is short 30-year bond futures. He is short Australian dollar. He is short yen. He is short yuan. Guy Adami Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance View comments || Bitcoin brokerage Circle gets $50 million investment: (Reuters) - Bitcoin brokerage Circle Internet Financial Inc said it closed a $50 million (32 million pounds)investment round led by Goldman Sachs and IDG Capital Partners. The company also said it will start giving customers the ability to hold, send, and receive U.S. dollars. Circle, a startup founded in 2013 by Brightcove Inc founder Jeremy Allaire and Sean Neville, allows customers to hold, transfer and receive the digital currency, Bitcoin. The company said if its users choose to keep dollars instead of bitcoin in their accounts, they can pay any person or merchant who accepts bitcoin without ever holding bitcoin themselves. Circle will handle instant conversion from dollars to bitcoins and vice-versa. The feature will be initially available to select customers and the company will offer it to more users every week. Goldman Sachs and China-based IDG Capital were joined by all of Circle's existing investors. (Reporting by Anya George Tharakan in Bengaluru) || Gold Investment Letter New Blog Report: Bitcoin Shop -- New Bitcoin ETF's May Drive Demand: CHICAGO, IL--(Marketwired - Apr 7, 2015) - The Gold Investment Letter helps sophisticated investors discover and maximize profits ingold,silver, andmining stocks. In today's blog update we have focused onBitcoin Shop(OTCQB:BTCS).
The post can be read on our blog page:http://www.goldinvestmentletter.com/blog/
About Gold Investment Letter
Gold Investment Letter is aninvestment newsletterthat focuses ongold stocks,mining stocks,and investing inundiscovered companies. We isolate the mostundervalued stocksto position ourselves and our subscribers. In today's blog update we have focused onBitcoin Shop(OTCQB:BTCS)
The editor of Gold Investment Letter,Eric Muschinski, is President and CEO of Phenom Ventures, President of Investor Media Inc, and a Director with Equities.com. || After the SendGrid Hack, Beware of Phishing Scams: Email has become a critical tool for transactions — from the sending of Uber receipts to delivery of hotel coupons. Naturally, companies that send mission-critical consumer emails often turn to third-party firms like SendGrid to manage the delivery of millions of messages. Of course, as third parties that maintain trusted relationships with both consumers and corporations, such email providers are an obvious target for hackers. Imagine the damage a criminal could do if he could believably pose as a giant tech firm and send out emails to all consumers? Such emails could ask millions of users to reset their passwords, for example, or update their credit card information, or even send bitcoins.
Such attacks are now under way. SendGrid, which has 180,000 customers and sends emails for giants like Uber and Spotify, said this week that a hacker who broke into company systems earlier this month did more damage than initially believed.
On April 9, the firm confirmed to The New York Times that a Bitcoin-related client account had been compromised and used to send phishing emails to its customers. But on Monday, SendGrid said additional investigation revealed that one of its own employees' accounts had been compromised and used to access several SendGrid systems in February and March.
"These systems contained usernames, email addresses, and . . . passwords for SendGrid customer and employee accounts,"the firm said on its blog. "In addition, evidence suggests that the cyber criminal accessed servers that contained some of our customers' recipient email lists/addresses and customer contact information."
SendGrid says it has not found evidence that customer lists were stolen, but it "cannot rule out the possibility."
The firm is urging its clients tochange passwordsand enable two-factor authentication.
It takes only a little creativity to imagine all the damage a hacker who managed to steal customer email lists and credentials could do. But a harrowing tale told by cloud provider Chunkhost.comon its website offers a cautionary tale. Co-owner Nate Daiger wrote last year that a hacker talked SendGrid into changing its point of contact email from [email protected] to [email protected], then used that change to retrieve a password reset email on two bitcoin-using clients. Fortunately, both clients used two-factor authentication, Daiger wrote.
"Our customers' accounts were protected and the attackers were stymied. But it was really close," he wrote.
Corporate clients who use third-party email services should be on notice: hackers are actively targeting such accounts. Meanwhile, here's an important notice to consumers: You can't believe everything you read, even anemail that appears to come from a company you trust. Hackers can sent out very believable-looking phishing emails with requests for password changes or payment information. You should always be skeptical of such emails, but now, you have new reasons to be so. When feasible, avoid clicking on links in emails and instead visit websites directly by typing the site address into your web browser's address bar.
If you have given up sensitive information to a phisher, it's important to take steps to control the damage. If it's an account number, report your account info as stolen so the bank or card issuer can close the account, or take similar steps to stop or undo any instances of fraud. Keep a close eye on your account statements, and check your credit reports and credit scores for signs that someone has opened an account in your name, or is using an existing one. You canget your credit reports for freeevery year from AnnualCreditReport.com, and you canget your credit scores for free from several sources, including Credit.com.
More from Credit.com
• Identity Theft: What You Need to Know
• 3 Dumb Things You Can Do With Email
• How Can You Tell If Your Identity Has Been Stolen? || 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) || The Other Reason Tax Prep Should Make You Nervous: Few things make me feel less secure about my money than tax time. Not because the Feds are taking some of it. I dont mind paying my share of the bill for civilization, although the twisted logic of the tax code makes me think Im losing a rigged game . No, its because tax prep reminds me of how weak security can be at many of the financial sites tax-prep services need to talk to. Using your social-security number as a username? Sure! Allowing a password that uses six characters or fewer and hasnt changed since you created it in 1999? OK! But as with a lot of security issues, this situation is more complex than it looks. Bad Security Is the Banks Problem, Not Yours Its true that getting a bank or mutual-fund login armored with security comparable to what you get on Web mail and social media sites is tough. Start with two-step verification to defend your account from a compromised password: Many financial sites will leave you frustrated. A semi-canonical list of sites supporting two-step verification, Two Factor Auth , found this security measure available at only 20 of 45 banking sites and eight of 19 investment sites. In comparison, it reports that all but one of 25 cryptocurrency sites listed offer two-step verification. But while theres no Federal Reserve to protect your Bitcoin, things differ in the U.S. banking industry. Rules like the Feds Regulation E limit your liability to hacking with the happy side effect that banks cant make you do all the hard work of security. In practice, that means they must watch for suspicious behavior on their own as in when a credit-card issuer calls you about an unusual purchase. The big banks, I think, have done a very good job of detecting fraudulent activity, because theyre liable for it, said Kathleen Day, a professor at the Johns Hopkins Carey School of Business and a veteran banking reporter. Its the financial services organization that ends up paying the tab, not the consumer, echoed Mark Nicholson, a principal in Deloittes cyber risk practice. Story continues This alignment of responsibility and risk isnt how things usually work in online security. But maybe it should be. As security researcher Bruce Schneier said: What you want is the entity in a position to mitigate the risk be in charge of security. And for all the examples of weak security Ive come across this tax season, the financial industry is getting better. The financial planning site Personal Capital has seen more sophisticated security at bank and brokerage sites, including more use of optional one-time passwords, chief technical officer Fritz Robbins said in a note forwarded by a publicist. For what its worth, the bank holding our mortgage just made its login system sufficiently complex enough that Intuits Mint site cant seem to check our balance. Tax Refund Fraud Remains a Mess If only other parties that use your financial information had the same straightforward incentives for fixing security problems. Instead, the costs their mistakes run up often get paid for with other peoples money. Think about retailers whose sloppy security allows your credit card to be compromised and used for fraudulent purchases at different stores that have to eat those charges. Now consider the complicated machinery of tax preparation. There, risks and responsibilities tumble across the map. The Internal Revenue Service can accept or reject returns, but it also works under a Congressional microscope: If it wrongly holds up a refund, taxpayers and their representatives will howl. Furthermore, the IRS isnt in the room when people do their taxes online third-party services such as Intuits TurboTax have reserved that job. They have a better chance to verify whoevers doing the return, but they have an even stronger incentive to err on the side of getting returns in so refunds go out. An unsurprising result: In the 2013 tax year, the Government Accountability Office estimated that the IRS paid out $5.8 billion in fraudulent refunds to crooks impersonating real taxpayers. No bank could stay in business with that loss rate. (The IRS also prevented or recovered $24.2 billion in ID theft refunds,) An IRS spokesperson noted, fairly enough, that the agency keeps getting less money to do that job its funding fell from $12.15 billion in fiscal year 2010 to $10.9 billion in the current year. But that GAO report also chided the agency for not making such authentication options as Identity Protection PINs more widely available. Intuit, the leading tax-prep company, doesnt look too good either. Security reporter Brian Krebs reported in February that the company had dialed back some anti-fraud efforts , then called it out again in March for neglecting such basics as validating e-mail addresses used to open accounts . Intuit said in a February post that it has been pushing the IRS to offer guidance to tax preparers about ID theft fraud. It has also been closing many of the holes observed by Krebs, something Ive seen in my own experience with TurboTax this year. (Intuit representatives declined to elaborate beyond those earlier statements.) Like data breaches, tax-return fraud is something we cant do much about on our own although the IRSs warnings and advice are worth a read. Any more durable fix is above our pay grade, but I think it has to involve the people responsible for security paying when it fails. It is not an unsolvable problem, said Schneier, suggesting that the IRS ought to eat those costs. But in the context of the American political system, many things cant be done. Email Rob at [email protected] ; follow him on Twitter at @robpegoraro . || Bit-X Financial Announces Exclusive Bitcoin Exchange & Services Agreement with Hong Kong Based ANX: VANCOUVER, BC / ACCESSWIRE / April 1, 2015 / Bit-X Financial Corp. (OTCQB: BITXF) today announced that it has executed an Exclusive Bitcoin Exchange and Services Agreement with Hong Kong based ANX. The proprietary ANXPRO trading and matching engine manages high volume, high throughput, and low latency trading and was modeled on the same technology recently leveraged by the worlds largest Investment Banks. It also features blended multi-currency settlement in addition to real time FX pricing and risk management. Under terms of the agreement, ANX will develop a white-label crypto-currency exchange utilizing ANXPRO's world-class proprietary trading platform. The agreement includes technical, development and support services to Bit-X and its registered users worldwide. "The ANXPRO proprietary trading engine is a critical component to our business," said Brad Moynes, President of Bit-X Exchange. "This agreement with ANX enables us to instantly offer crypto-currency services to our customers utilizing a proven technology platform and relying on the operations of a well-established brand and a very experienced team." Functionality of the Bit-X Exchange will include deposit and withdrawal services for multiple fiat currencies, payment processing via Vogogo Inc. services, trading exposure to Bitcoin, Ripple, Litecoin, Dogecoin and Stellar while leveraging the established global liquidity order book; developed and managed by ANX. "This is a win-win for crypto-currency exchanges and the eco-system as a whole," said Dave Chapman, COO of ANX. "We are delighted that Bit-X has selected ANX as their preferred white-label provider by surpassing their technology and operational requirements." In addition to the development and management of the Bit-X Exchange, ANX will notify its19,750+ existing North American users to instantly migrate to the new Bit-X Exchange which has a go live date within 60 days. ABOUT BIT-X: Bit-X Financial Corp is a Vancouver based Company listed on the OTC.QB under the trading symbol BITXF. The Company has announced an exclusive agreement with Hong Kong based ANX to develop a crypto-currency exchange and to provide ongoing technical, development and support services to registered users worldwide. Bit-X Financial Corp is a reporting issuer in the Province of British Columbia with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC". Story continues ABOUT ANX: Founded in June 2013, ANX has grown into one of the most used Bitcoin exchange platforms worldwide. ANX is one of the largest and most diverse Bitcoin exchanges in the world. It is a pioneer and leader in the crypto-currencies industry. ANX's achievements to date include introducing the world's first multi-currency online Bitcoin exchange platforms (ANXPRO.COM & ANXBTC.COM), the world's 3rd Bitcoin ATM machine, and a full-featured ANX Vault mobile app for crypto-currencies. ANX recently acquired troubled Bitcoin exchanges Norwegian based JUSTCOIN.COM and US based COINMKT.COM to expand into the European and North American markets. ANX was one of the first firms specializing in crypto-currencies to be issued with a Money Service Operator (MSO) license and prides itself on its transparency and regulatory compliance. The founding partners have financial markets, management consulting, banking technology and compliance backgrounds. 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 Media inquiries: Bit-X Financial Corp Brad Moynes [email protected] ANX Jess Chan [email protected] To view this press release as a PDF file, click onto the following link: public://news_release_pdf/Bit-XApr12015.pdf SOURCE: Bit-X Financial Corp. || Microelectronics Provides Corporate Update: MONARCH BAY, CA / ACCESSWIRE / March 23, 2015 /Microelectronics Technology Corporation (MELY) The Board of Directors is pleased to report the following corporate events:
Share Capital Structure:
The company is in the process of completing the dividend declared in January.
The distribution process is being shifted to be handled by DTCC the Depository Trust Company in order to streamline the distribution process to the shareholders brokerage firms.
The company has successfully completed the consolidation of its share capital and is in the process of reducing its authorized share capital to 2.5 billion authorized shares down from 7.5 billion shares authorized.
Financing:
The Company has removed over $350,000.00 of convertible debt from the balance sheet over the last several months.
The Company has not closed the two million dollars financing previously announced. The Company is still in the process of finalizing the financing however in order to protect shareholder value the form and dilution aspects of the financing have been altered to terms that have been more difficult to place with Institutional Investors. Further updates will be provided as available.
Servers:
The Company has cancelled all server orders previously reported. The Company has determined that its current facility in Washington State is not economical at the current electricity rate of $.09 per kilowatt hour. The average server runs at 1 kilowatt per hour 24 hours per day. The company determined that the cost of power in its expansion would be a significant factor in its profitability for the future. Each Peta Hash at the current electricity Rate costs $64,500.00 per month.
The Company is currently in negotiations for a 10 Megawatt facility with electricity at the rate near $.02 per Kilowatt providing a cost savings of $.07 per Kilowatt or approximately $50,000.00 per month per Peta Hash.
The Company has determined that it is more economical to lease servers and Hash Rate than to build out the current facility.
BTCPOOLPARTY MINING POOL:
The Company recently did testing of servers in the order of 4 Peta Hash to determine the viability of The BTC Pool Party under load.
The Company will be initiating a restart of the Company's Bitcoin Mining Pool in the next 10 days with a leased 3 Peta Hash of mining power, mining on behalf of the Company. The company will be concentrating its growth efforts on the development of the BTC Pool Party until the new mining site is finalized and built out.
It is anticipated that the 3 Peta Hash will produce approximately one BTC Block per day.
The company has a comprehensive roll out plan for the next several months, which will include BTC conferences, online marketing and social media forums.
The company continues to develop and improve the BTCPOOLPARTY mining pool with the introduction of more detailed stats of the mining operations available over the next several weeks.https://www.btcpoolparty.com/.
https://www.facebook.com/btcpoolparty
Additional photos and videos can be viewed at the company's Facebook page:https://www.facebook.com/MELYPK.
Forward-Looking Statements:
This news release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey Company progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the Company at this time, actual results may differ materially and are subject to risk and uncertainties. Factors that may cause actual results to differ include without limitation: dependence on key personnel and suppliers; MELY's ability to commercialize its technology; ability to defend intellectual property; material and component costs; competition; economic conditions; consumer demand and product acceptance, and availability of growth capital.
Additional considerations and risk factors are set forth in reports filed on Form 8-K and 10-K with the SEC and other filings. Readers are cautioned not to place undue reliance upon these forward-looking statements; historical information is not an indicator of future performance. The Company undertakes no obligation to update publicly any forward-looking statements.
CONTACT:
For further Information:
Microelectronics Technology Co.President:Mr. Brett [email protected]
SOURCE:Microelectronics Technology Company || Is The Euro Moving Higher Or Lower? And What Should You Do About It?: The euro has fallen staggeringly lower against the dollar in recent weeks as the divergent policies of the Federal Reserve and the European Central Bank have helped move the two currencies in opposite directions. However, with the euro beginning the week at $1.0814, many are wondering what's next for the common currency. Further To Fall According to Goldman Sachs Group Inc (NYSE: GS ), the currency will fall to $0.80 by the end of 2017. This scenario assumes that the U.S. is planning to increase interest rates alongside a steadily recovering economy and that the ECB will maintain a large scale QE program. Related Link: Why Biotech, Copper And Euro ETFs Should Be Key This Week Betting On A Lower Euro For those subscribing to Goldman Sachs' forecast, there are many deals to be had within European markets. There are some investors who believe that now is the time to buy eurozone government bonds, despite the fact that more than a third are trading with a negative yield. However, with the ECB's promise to buy €60 billion worth of government bonds per month through September 2016, many see an opportunity to resell at a higher price. Others are investing in companies like Priceline Group Inc (NASDAQ: PCLN ) in hopes that the company's travel planning activity will rise as more and more tourists flock to Europe due to favorable exchange rates. Priceline owns Netherlands-based Booking.com, which provides travelers with accommodation options in over 200 different countries and is likely to see a boost as European vacations become more appealing to foreigners. Don't Discount The Bulls While current trends suggest a downward trajectory for the common currency, that isn't the only possible outcome. HSBC Holdings plc (ADR) (NYSE: HSBC ) raised its euro forecast last week, saying it expects to see the common currency trade at $1.10 by the end of 2016. In HSBC's view, the dollar has risen too sharply and the implications for the U.S. economy will have an effect on the Fed's policy aims. Story continues The dollar's growth has put a damper on commodity prices, which in turn has stifled inflation in the U.S. The Fed may be hesitant about a rate rise with inflation under pressure, not to mention the negative impact a stronger dollar has had on multinationals' profits, something that could affect job growth. Betting On A Euro Recovery This would be good news for multinationals like Microsoft Corporation (NASDAQ: MSFT ) and Procter & Gamble Co (NYSE: PG ), who have said their sales and profits are taking a hammering from exchange rate fluctuations. U.S. automakers like General Motors Company (NYSE: GM ) and Ford Motor Company (NYSE: F ) would also be relieved to see the dollar back down from its rally, as their products have become less competitive against foreign companies who are able to offer better pricing and dealership incentives. See more from Benzinga Financial Sector Boosted By Fed Stress Tests Meet The 3 Companies Goldman Sachs Says Are Leading The Bitcoin Revolution Currency War Questions Could Cloud Trade Agreements © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
In the last 10 mins, there were arb opps spanning 27 exchange pair(s), yielding profits ranging between $0.00 and $1,230.92 #bitcoin #btc || In the last 10 mins, there were arb opps spanning 20 exchange pair(s), yielding profits ranging between $0.00 and $1,050.29 #bitcoin #btc || current #bitcoin price (winkdex) is $220.04, last changed Mon, 27 Apr 2015 08:45:00 GMT. queried at: 08:47:59 || In the last 10 mins, there were arb opps spanning 23 exchange pair(s), yielding profits ranging between $0.00 and $1,083.55 #bitcoin #btc || buysellbitco.in #bitcoin price in INR, Buy : 14878.00 INR Sell : 14402.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || Liberland: Europe’s Newly Formed Country to Use Bitcoin: By Scott Fargo Apr 24, 2015 3:00 PM EDT <!––> News po... http://bit.ly/1z2cdJz || current #bitcoin price (winkdex) is $233.91, last changed Fri, 10 Apr 2015 17:20:00 GMT. queried at: 17:23:14 || Current price: 221.57€ $BTCEUR $btc #bitcoin 2015-04-11 00:00:04 CEST || current #bitcoin price (winkdex) is $222.23, last changed Thu, 16 Apr 2015 00:05:00 GMT. queried at: 00:07:31 || LIVE: Profit = $768.56 (21.32 %). BUY B14.67 @ $244.99 (#BTCe). SELL @ $255.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org
|
Trend: down || Prices: 241.11, 236.38, 236.93, 237.60, 236.15, 236.80, 233.13, 231.95, 234.02, 235.34
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-07-31]
BTC Price: 10085.63, BTC RSI: 48.45
Gold Price: 1426.10, Gold RSI: 63.26
Oil Price: 58.58, Oil RSI: 56.70
[Random Sample of News (last 60 days)]
Disrupting the Dollar, Gold vs Bitcoin, Marvelous Montauk—The Ledger: On the shores of foggy Montauk, tech and finance executives gathered last week atFortune’sBrainstorm Financeto talk about big ideas. Notably, they explored how the ethos of Silicon Valley isseeping into Wall Street, and asked whetherbig banks will be displaced—or if the old guard of the financial world will simply appropriate new tech tools to stay in control for decades to come. One of many delightful surprises: Citi CEO Michael Corbat took up the counter-cultural mantle,labeling himself a “true believer”in cryptocurrency.
Meanwhile, some currents of the conversation raised an even deeper question: Will new technology, notably cryptocurrency, end the dominance of the U.S. dollar? At a breakfast panel, TrustToken co-founder Tory Reiss noted how merchants in China and Ukraine are using digital money called Tether to arrange import deals, while thousands of brokers in Hong Kong are using WhatsApp and Bitcoin to subvert currency controls. In the past, it would have been U.S. dollars—namely suitcases full of cash—enabling such transactions.
Others predicted that the next phase of finance will see nation states issuing cryptocurrencies of their own. For Alex Mashinsky of Celsius Network, this will further hasten the decline of the dollar as the world’s reserve currency, and cause America to lose one of its most powerful geopolitical assets. “The monopoly of the U.S. dollar will be disrupted likeAT&Tbefore it,” he said, referring to the 1980s breakup of what was once America’s most powerful communications monopoly.
It’s not just countries, of course, getting into the digital currency game. On theBrainstorm Financemain stage, Kathryn Haun of Silicon Valley venture capital firm Andreessen Horowitzdiscussed Project Libra, the Facebook-ledinitiativeto create a new type of money for billions of users. As Haun explained it, her firm is just one of dozens that will hammer out the details of Libra, likening the process to a “Constitutional convention…you have all these different states coming in trying to form this union.”
Not everyone is cheering on this process—and some are downright hostile. Ledger reader Michele Clarke sent us an acerbic email to say, “So a quick fact check – these are corporations, not ‘states’. And wouldn’t holding a ‘Constitutional convention’ fall under the literal definition of treason?”
Meanwhile, others questioned if the financial future we are creating is part of the larger surveillance state arising all around us. In the words of Amber Baldet, Clovyr CEO and formerJPMorgan Chaseexecutive, there is a real risk of a “William Gibsonian corporate dystopia” if we turn away from decentralization, which was the original promise of blockchain technology. Finally, Gem CEO Micah Winkelspecht—a long time blockchain builder—made an impassioned plea to treat the ability to tinker with new financial technologies as a human right. As I said, lots of big ideas on the shores of Montauk.
***
If Ledger readers will indulge us in a victory lap, we were absolutely thrilled with the inaugural edition of Brainstorm Finance. We received rave reviews—including one delegate who described it as a “conference without annoying conference people.” Jen, Robert, Adam, and I want to thank everyone who came, read our coverage, and contributed to the discussions. We can’t wait to do it all over again next year.
GOT TIPS?
Send feedback and tips to [email protected], find us on Twitter@FortuneLedgeror email/DM me directly at the contact info below. Please tell your friendsto subscribe.
Jeff [email protected]@fortune.com
1. THE LEDGER’S LATESTExclusive: Mortgage Master Blend Raises $130 Millionby Robert HackettWhy Blockchain ‘Hype’ Needs to Stopby Anne SradersTala CEO: How Facebook’s Libra Cryptocurrency Can Help Companies Scaleby Lucinda ShenWhat’s Next in Blockchain? Ask This Teenage Engineerby Natallie RochaSecurity Tokens Will Be the ‘Killer App’ of Cryptocurrency, OverstockCEO Saysby Jeff John RobertsRipple CEO: Facebook Libra Cryptocurrency Push Makes Me Happyby Jonathan Vanian
2. DECENTRALIZED NEWSTo the Moon…Bitcoin is at$11,000 and climbing. Project Libra willturbo-chargeFacebook’s ad empire. France createsG7 task forceto study cryptocurrency and central banks. Fin-tech startup Tallyraises $50 millionto automate personal finance. Mike Novogratz’s Galaxy Digitalunveils option tradingfor hedgies. IBM Blockchain offers“pay as you grow” pricing.…Rekt.Fintech startup says Facebooklifted its logofor Libra. Amazon hasno plansto take on the big banks. E&Y says dead Quadriga founderdipped intoclients’ crypto funds. Western Union CEO says “cashless is classist—and bad for business.” Coinbaserebuffs zero-day attack, “burn[s] down attacker’s infrastructure.” Israeli busted for mass Bitfinex hack tells court “I’m a good boy.” Hey Facebook, the Senate Bank Committeewould like to talk to you about Libraon July 16. AndMaxine will see youthe next day.
3. BALANCING THE LEDGERA personal highlight of Brainstorm Finance was hosting what Robert called “crypto firepower”—DCG’s Barry Silbert, Circle’s Jeremy Allaire and Clovyr’s Amber Baldet—on the same panel. Needless to say,a lively chat ensued. Bonus tidbit: at the outset, I asked the room if they would invest their last $10,000 in Bitcoin or gold—the poll was about a 50-50 split.
4. BUBBLE-O-METER22 yearsBitcoin is going up, up, up of late. But despite crossing the $11,000 mark, it has much more ground to cover before it reaches its all-time 2017 high of nearly $20,000. This seems a good time, then, to dig out arecent surveyby a UBS analyst of other spectacular bubbles (i.e. the NASDAQ in 2000, oil in 2008) and the path from trough to recovery. In the worst case—the Dow Jones crash of 1929—the road back took 22 years. Here’s betting we’ll see $20K Bitcoin before the year 2039.
5. MEMES AND MUMBLESGold is for dinosaurs?Maybe. But the gold bugs had the retort of the week to crypto kingpin Barry Silbert and others who areurging investorsto drop the yellow metal in favor of Bitcoin. Check out thisclever tweet, which uses a chart of gold’s recent uptick to draw a very happy brontosaurus:Your move, Barry. || Bitfinex Swears It’s Trying Super Hard to Block US Bitcoin Traders: Beset with allegations that it is flouting regulations by allowing US bitcoin traders to access its platform, cryptocurrency exchange giantBitfinexpromised that it’s tryingsuper hardto stop that from happening.
In anofficial announcement published on Friday, Bitfinex confirmed a report fromThe Blockthat a New York resident had managed to open an account called “ImaNYresident.”
After sneakily evading Bitfinex’s security restrictions – read: checking a box that says they pinky-swear they’re not a US resident – ImaNYresident was able to use the bitcoin exchange freely.
It’s not a good look for Bitfinex, which hascome under legal scrutinyfor allegedly serving US bitcoin traders. The New York Attorney General claims that Bitfinex, along with stablecoin issuerTether, has offered unlicensed cryptocurrency services to New York residents up to and including 2019.
But the firm promises it’s working super-duper hard to keep its exchange squeaky-clean: “we remind United States persons that they are not welcome on our platform,” the announcement read.
Read the full story on CCN.com. || How Marijuana Legalization in Illinois Opens Up a Billion-Dollar Market: News flash to anyone who still thinks that marijuana legalization bills are doomed: Illinois just proved you wrong. Governor J.B. Pritzker — a billionaire Democrat who ran on legalization — is about to sign a bill ending marijuana prohibition in his state. This makes Illinois the 11th state to legalize recreational marijuana. (The 12th if you count Washington, D.C.) Whether or not you live in Illinois, this is a big deal — for several reasons: InvestorPlace - Stock Market News, Stock Advice & Trading Tips 1. Marijuana legalization made it through the state legislature. Previously, only the much-smaller state of Vermont was able to legalize this way, versus a ballot referendum. This has to be encouraging to pro-legalization politicians in other states… and in Congress. (It’s yet another reason why I expect full federal legalization sooner than you think .) The 10 Best Stocks for 2019 -- So Far 2. Now, almost a third of Americans will live in a state where adults can purchase recreational marijuana. Illinois is the 6th biggest U.S. state by population. And, with nearly 13 million people, Illinois will be second only to California on the legal-weed roster. So, naturally… 3. Illinois will bring a LOT to the table for the cannabis industry. We’re talking: $1.6 billion a year in expected sales, according to Chicago Business. And that’s just from recreational use. When you factor in medical marijuana – a market that’s already thriving in Illinois – the future is even brighter: $2.9 billion a year by 2024, projects Alliance Global Partners.“Illinois is going to be huge,” agrees the Brightfield Group, noting that Illinois will soon rival Colorado… a state with a more established industry – but only half the people. Governor Pritzker thinks legal marijuana will earn Illinois $170 million… just in the first year. There’s no doubt that tax revenue is one reason states are jumping on the bandwagon. Story continues 4. This could be a huge job creator. Illinois is already home to several of the top cannabis companies, like Cresco Labs (OTCMKTS: CRLBF ). And Cresco is planning to double its workforce there. From its home base in Chicago, Cresco has some pretty ambitious goals for expansion. In April came the news that it would purchase Origin House (OTCMKTS: ORHOF ) for approximately $850 million. Cresco is already one of the biggest American cannabis companies, with $21.1 million in first-quarter revenues. But if you count its pending acquisitions of Origin House and VidaCann, Cresco would have made $33.9 million. Origin House might be based in Ontario — but what it really does for Cresco is open up America’s oldest and largest legal-weed market: California. That’s just one example. And for us as investors, it’s time to get on board this train — or watch it pass us by. At Investment Opportunities , I’m closely monitoring stocks like Cresco for a potential buy. It’s certainly a better bargain than most of the Canadian pot stocks. However, there are a few OTHER stocks that are attractive and still in “penny stock” territory. Why I Like Penny Pot Stocks Ahead of Full Marijuana Legalization Penny stocks often get a bad rap. But they are actually critical to the global marketplace. The world needs tiny companies — just as much as bigger ones. They’re the job creators. The innovators. And they’re the places to look for the biggest gains once marijuana legalization occurs. As an investor, if you’re looking for the next Netflix (NASDAQ: NFLX ) or Apple (NASDAQ: AAPL ), this is where you’ll find it. You just want to be VERY choosy about which ones you buy. I use strict guidelines to pick penny stocks — and I tell you all about them in this presentation . When I used my five-step evaluation process on the marijuana market, I identified four stocks that are worth buying now . During my presentation, you’ll have the opportunity to secure a free copy of America’s Top 4 Marijuana Moonshot Stocks … I’ll even give you a fifth bonus name just for fun . Matthew McCall is the founder and president of Penn Financial Group, an investment advisory firm, as well as the editor of Investment Opportunities and Early Stage Investor. He has dedicated his career to getting investors into the world’s biggest, most revolutionary trends BEFORE anyone else. The power of being “first” gave Matt’s readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA), +1,044% in Tesla (TSLA), +611% in Liquefied Natural Gas Limited (LNGLY), +324% in Bitcoin Services (BTSC), just to name a few. If you’re interested in making triple-digit gains from the world’s biggest investment trends BEFORE anyone else, click here to learn more about Matt McCall and his investments strategy today . More From InvestorPlace 4 Top American Penny Pot Stocks (Buy Before June 21) 6 Retailers Including Disney Agree to Ditch On-Call Scheduling The 10 Best Stocks for 2019 -- So Far 7 Small-Cap ETFs to Buy Now Compare Brokers The post How Marijuana Legalization in Illinois Opens Up a Billion-Dollar Market appeared first on InvestorPlace . || Crypto Prices Plunge; Bitcoin Drops Below $8,000: Investing.com - Cryptocurrency prices slumped on Tuesday in Asia, with Bitcoin dropping below the $8,000 level for the first time in more than a week.
Bitcoin was down 8.6% to $7,971.6 by 11:30 AM ET (03:30 GMT), its biggest fall in two weeks. The largest digital currency reached a year-to-date high of $8,925.5 on May 30.
Today’s sell-off has erased all gains from May 26 when the coin tested the $9,000 resistance a couple of times before plummeting.
Ethereum plunged 9.3% to $245.88. XRP fell 10.7% to 0.40839, while Litecoin lost 11.1% to $103.647.
Cryptocurrencies received a boost in May amid reports that Facebook (NASDAQ:FB) and JPMorgan (NYSE:JPM) are developing their own coins, confirming renewed institutional interest.
The reason behind the fall today was unclear, but some analysts have suggested that the pullback was likely given the rapid acceleration seen in the popular crypto, which recorded its fourth-straight monthly gain last week.
Peter Schiff of Euro Pacific Asset management warned before the sell-off that the crypto market has “an abundance of fake buying sentiment” and that “the cryptocurrency serves neither the purpose of money nor a store of value.
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Litecoin Falls 11% In Selloff || Goldman Sachs ‘Looking at Potential’ of Creating Virtual Currency, CEO Reveals: Goldman Sachsis performing “extensive research” on tokenization, the group’s chief executive toldFrance’sLes Echosnewspaperon June 27.
David Solomon said he believes globalpaymentsystems are heading in the direction ofstablecoins—cryptocurrenciespegged tofiatassetssuch as theU.S.dollar.
Although he stopped short of confirming whether Goldman Sachs has had discussions withFacebookabout its upcominglibracryptocurrency andCalibrawallet, Solomon said his corporation finds the concept “interesting.”
When asked whether Goldman Sachs will followJPMorgan Chasein launching its own virtual currency, Solomon said:
“Assume that all major financial institutions around the world are looking at the potential of tokenization, stablecoins and frictionless payments.”
Elsewhere in the interview, Solomon predicted that regulations will change in response to virtual currencies — but said he doesn’t think new entrants in the cryptosphere will forcebanksto close. He added:
“Admittedly, they will have to evolve, because the trades linked to the payment flows will become less profitable. But there are many other reasons why banks must remain innovative, otherwise they will disappear.”
Solomon also suggested that tech giants such as Facebook would like to avoid the regulatory constraints that banks face, making it more likely that they would try to enter into partnerships than become financial institutions themselves.
Earlier this week, reports suggested that JPMorgan Chase is set to beginpilotingits own cryptocurrency by the end of this year.
Back in April, Solomon categoricallydeniedthat Goldman Sachs ever had plans to open a crypto trading desk during a hearing before the United States House of Representatives Financial Services Committee.
• CME: Open Interest in Bitcoin Futures Contracts Hit All-Time High
• Steve Forbes Tells Zuckerberg: Use Gold to Back Libra, Call It the ‘Mark’
• Former Trump Economic Adviser Expresses Support For Facebook’s Libra
• Report: Facebook’s Calibra Digital Wallet Will Not Be Available in Its Largest Markets || Crypto’s Been Going Crazy; Here’s Why: By now we all know that crypto went on a true bull run last week, when Bitcoin broke above $13,500 for the first time since January 2018. With Bitcoin making up 61.5% of crypto’s total value, it was no surprise that the overall crypto market hit a 12-month high at the same time. PerCoinwatch.com, the total market cap of crypto peaked above $365 billion on June 26; it has since slipped to $316.50 billion. At this writing,BTCis trading at $11,075, and has a market cap of $196.21 billion.
To make sense of everything, we’ll take a step back for a longer look. The three-month chart for BCT shows clearly that the coin has been on an upward trend since this past April 1, and equally clearly that this week’s volatility includes the steepest losses during that time.
But BTC remains at 15-month highs, and the losses in recent days look like classic profit taking. The sharp peaks and valleys are reminiscent of Bitcoin’s chart pattern during the runup and dropdown from November 2017 to April 2018. So, volatility is baked into BTC, but we already knew that. As Forbes Magazine's Caitlin Long reminds us, Bitcoin is designed to present investors with a stable system, rather than stable prices.
And this brings us to the second major point in to BTC’s recent price surge: as it rose in price, it attracted more miners as well as more buyers, and in blockchain, more miners means greater security. Bitcoin’s hashrate, the speed at which miners run calculations to open the next block, is at an all-time high. Back to Ms. Long, who points out, “The higher the hash power, the more secure Bitcoin becomes… simply because the cost to amass enough hash power to attack the network far exceeds the gain from doing so.”
The gains in BTC’s hashrate have been making a splash in the crypto world, and feeding another important trend: Bitcoin has a distinctly positive news sentiment, as seen by the slant of articles published in the past week. We can turn back to Coinwatch, for a look atBitcoin’s News Sentiment:
Coinwatch analyzes the cryptocurrency news channels in real-time, and presents the results. You can see here that in the last week BTC has gotten slightly more than the average number or write-ups, and the tone has been significantly more bullish than usual. The coin has been doing well in the markets, investors are interested in it, and it’s clearly reflected in the news. Which, of course, helps feed more favorable investor sentiment toward BTC.
Three main topics are filling the headlines about BTC: the current bull run, the unveiling of Facebook’s (FB) Libra project, and, most recently, the surge in the hashrate. All three factors are pushing BTC to a positive trend: reporting on gains feeds a bullish narrative, reporting on Libra generates interest in cryptocurrency, and reporting on the hashrate and related security issues reassures the public. While there is reporting on BTC’s slips during the week, it’s overshadowed by the positive trends.
Bitcoin is not the only crypto posting gains and positive news sentiment in the past week. Ethereum (ETH), the third-largest coin by market cap, has shown a similar pattern in recent days. ETH is up 110% in the past three months, and at this writing is trading just below $298.
As with Bitcoin,ETH has a distinctly positive news sentiment. The number of articles featuring the coin is in line with the weekly average, while the tone of those articles is decidedly bullish – at 90%, even more bullish than Bitcoin’s tone. The most recent articles on ETH emphasize that the coin has stabilized at current trading levels, that transaction volumes are high, and that a 52-day bull run is in the realm of possibility.
The third major cryptocoin, Ripple (XRP) has also posted gains in the April-May-June period, but not to the same extent as BTC or ETH. Where those coins are up 166% and 110% respectively, Ripple has only gained 27%, and has been in a ranging pattern since mid-May. In the last 7 weeks, XRP has stayed between 37 and 47 cents per coin. Where other cryptos have been showing sharp gains, XRP has simply failed to get traction.
A look atRipple’s news sentimentshows the effect of this trading pattern on the general outlook toward the coin. Articles on XRP have trended decidedly bearish, far more than the average in the cryptocurrency industry.
Reading the headlines in Ripple-related articles bears this out. Recent press mentions includeRipple Price Analysis: XRP Recovery Could Face Many Hurdles. It’s a tone that we just aren’t seeing in the Bitcoin and Ethereum articles.
Ripple’s holding pattern, and recent losses among the smaller altcoins, are less significant to the overall cryptocurrency market than the gains in Bitcoin and Ethereum. With those two coins making up over 71% of the total market cap in crypto, we would expect to see the markets follow their lead, and we do. Again fromCoinwatch.com, the total market cap chart bears this out – it closely follows the pattern established by BTC and ETH.
The general tenor of the crypto markets is optimistic now, despite a drop from last week’s high points. News and investor sentiment remain positive on two the three largest coins, and neither of those shows any sign of the bottom falling out.
In ourlast article on this subject, we quoted investor and fund manager Mike Novogratz, who foresaw – during the recent price run-up – BTC stabilizing between $7,000 and $10,000. He’s a careful prognosticator, however, and he also said, “If I’m wrong on that, I think I’m wrong on the upside.” He appears to have been correct; BTC appears to be stabilizing, at least for now, near $11,000. || Fluree receives $4.7 million in funding; plans to design blockchain-based database: Blockchain startup Fluree has received a $4.7 million seed round investment, TechCrunch writes . 4490 Ventures led the round and Revolution’s Rise of the Rest Seed Fund participated. The startup is planning to develop a blockchain-based database. Fluree CEO and co-founder Brian Platz explained the application of blockchain can provide the database with “immense integrity around the data.” It can provide the proof the data hasn’t been altered and people can trace the source of the data, which is impossible to do currently. According to Platz, this can make the data “immensely collaborative.” Multiple people will be able to interact with the data. The nature of the database shouldn’t affect its speed—Platz believes it is possible to make the database fast while maintaining decentralisation. “If you want 100% decentralization, something like Bitcoin, it’s going to be slow. You can’t have your cake and eat it too. If you need to, you can decrease the amount of centralization. So there’s a spectrum there, and we focus on giving people the knob to adjust that based on what they’re trying to do,” Platz explained. || Price Analysis 22/06: BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA: 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.
Bitcoin’s dominance has reached 58.6% and its rally has helped the total market capitalization of cryptocurrencies cross$325billion. This rise has been backed by an increase in Bitcoin futuresopen interestthat hit an all-time high on the CME on June 17. The recovery from the lows has also helped bitcoin’shashrateclock a new high. Both these are bullish signs and indicate that the rally is on firm ground.
A new survey by Moscow-based cybersecurity firm Kaspersky Lab has stated that19%of people across the world have bought cryptocurrencies before 2019. For a new asset class, this is a very high and impressive number.RippleCEO Brad Garlinghouse recently revealed that he waslong on Bitcoinbecause he considered it a store of value.
While the adoption of cryptocurrencies is increasing, it still has its naysayers. The Reserve Bank ofAustraliadoes notexpectcryptocurrencies to find wide use in Australia if the existing financial system remains robust. Similarly, Patrick Gaulthier, vice president ofAmazonPay, said that they do not have any plans of creating crypto in the short-term as they do not deal inspeculativeassets.
With the Bitcoin price topping $11,000, is it a good time to buy or should investors look to other altcoins? Let’s find out.
The up-move of the past couple of days is reminiscent of the rally during the previous bull market. Bitcoin (BTC) has covered the distance from$10,000to$11,000within a day. It has broken out of the ascending channel and looks to be on target to reach the overhead resistance of $12,000. As the price has reversed direction from $12,000 on three occasions, between the end of January and early March of last year, we expect some resistance at this level.
However, when a cryptocurrency is backed by momentum, it is difficult to predict where it will stop.
Both the moving averages are sloping up and the RSI is deep in overbought territory. This suggests that the rally is looking stretched in the short term. However, in early April and mid-May of this year, the RSI had reached just above 88, which shows that there is some more room for the up-move to extend.
If theBTC/USDpair breaks out of $12,000, it can move up to $13,000. But these vertical rallies are unsustainable. Therefore, we anticipate a minor correction or a consolidation for a few days. We do not suggest traders chase the price higher as the risk to reward ratio is not attractive.
Ether (ETH) broke out of $225.49 to $280 range on June 21. Thereafter, it quickly rallied above the overhead resistance of $322.06 and came very close to its target objective of $335. However, profit booking has pushed the price back below $322.06. This shows a lack of demand at higher levels.
Both the moving averages are sloping up and the RSI is in the overbought zone, which shows that the bulls are in command. If they can propel theETH/USDpair above $322.06 and sustain it, there is no major resistance until $480.
Ripple (XRP) has broken out of the symmetrical triangle, which is a positive sign. It can now move up to $0.57259 and above it to $0.6250. Both the moving averages are sloping up and the RSI is in the positive zone, which shows that bulls have the advantage.
Our bullish view will be invalidated if the bulls fail to sustain the breakout and theXRP/USDpair plummets back below $0.450. Until then, every dip will be viewed as a buying opportunity. Traders can trail the stop loss on thelongposition to $0.41. We will suggest to raise the stop loss again as the price moves up.
After trading in a small range near $140.3450 for the past few days, the bulls are attempting to resume the uptrend. Litecoin (LTC) has broken out of $140.3450 but is struggling to sustain it. This shows profit booking at higher levels. However, both the moving averages are sloping up and the RSI is close to the overbought zone, which shows that the path of least resistance is to the upside.
The breakout and close (UTC time frame) above $143.3047 could propel theLTC/USDpair to $158.91 and above it to $184.7949. Conversely, if the pair turns down from current levels and breaks down of the 20-day EMA, momentum will weaken. Therefore, traders can protect the remaininglongposition with a stop loss below the 20-day EMA. As the price surges higher, traders can tighten the stops further to protect paper profits.
Bitcoin Cash (BCH) bounced off the 20-day EMA on June 21. Currently, the bulls are trying to sustain above $481.99. If successful, a move to the resistance line of the ascending channel is probable. This might act as a minor hurdle, but if it is crossed, the rally can extend to $639 and above it to $889.
On the other hand, if theBCH/USDpair struggles to break out of the overhead resistance, it might dip back to the 20-day EMA. It remains bullish as long as both the moving averages are sloping up and the price remains above the moving averages. It will signal a change in trend on a breakdown and close (UTC time frame) below the support line of the channel.
EOSbounced off the 20-day EMA on June 21. It is likely to rally to the resistance line of the channel. If this level is crossed, the next move is toward $8.6503 and above it, $9.30. The 20-day EMA is starting to turn up and the RSI has jumped into positive territory, which suggests that bulls have the upper hand. Traders can trail the stop loss on thelongposition to $6.40.
If theEOS/USDpair struggles to break out of the resistance line of the channel or $8.6503, traders can book partial profits on about 50% of the long positions and trail the rest with a tight stop. The momentum will weaken if the price sinks below $6.8299 and the trend will turn bearish on a breakdown of the support line of the ascending channel. This can result in a fall to $4.4930.
Binance Coin (BNB) has made a new high once again. This is a positive sign as it shows buying at higher levels. The price spiked to $43.2813888, close to our target objective of $46.1645899. However, profit booking at higher levels has dragged the price back near the breakout level of $38.6463356.
If the bulls defend the support around $38.6463356, we anticipate another attempt to break out of $46.1645899. If successful, a move to $50 is possible, which is likely to act as a psychological resistance.
Traders can book partial profits if the pair hits our target objective and trail the stop loss on the remaininglongposition to just below the 20-day EMA. However, if theBNB/USDpair plunges much below $38.6463356, it can drop to the 20-day EMA, which is an important support. A break of this support will weaken the momentum.
Bitcoin SV (BSV) is looking strong as it is attempting to resume its uptrend. It clocked a new high of $255.620 today, but profit booking at higher levels has dragged the price lower. Both the moving averages are sloping up and the RSI is close to the overbought zone, which suggests that the bulls are in command.
If the bulls sustain the rally above $240, the next level to watch is $307.789 and if this level is also scaled, the rally can reach $340.248. However if theBSV/USDpair fails to sustain above $240, it can correct to the 20-day EMA, which is likely to act as a strong support. If this support cracks, the drop can extend to $176.083, which is the 50% retracement of the recent rally.
Stellar (XLM) has broken out of the downtrend line of the descending triangle. It can now move up to the overhead resistance of $0.14861760. A breakout and close (UTC time frame) above this level will complete an inverse head and shoulders pattern that can start a new uptrend. Therefore, traders can initiate long position as suggested in anearlieranalysis.
However, both moving averages are flat and the RSI is just above the midpoint, which suggests equilibrium between bulls and bears. The trend will turn in favor of the bears if theXLM/USDpair fails to sustain above the resistance line of the triangle and plunges below $0.11507853. The next support on the downside is at $0.0855.
Cardano (ADA) is trying to break out of the overhead resistance at $0.10. In the previous five instances, the price had turned down from this resistance. This time, if the bulls succeed in breaking out of $0.10, the cryptocurrency will complete a rounding pattern that has target objective of $0.22466773. Therefore, we retain our buy recommendation given in anearlieranalysis.
Nevertheless, if theADA/USDpair fails to break out and close above $0.10, it is likely to remain range bound between $0.076254 and $0.10. The 20-day EMA has flattened out and the RSI is just above 50, which suggests consolidation in the short term. A breakdown of $0.076254 will signal that the bears are back in command.
Market data is provided by theHitBTCexchange. Charts for analysis are provided byTradingView.
• BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA: Price Analysis 19/06
• BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA: Price Analysis 17/06
• 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 12/06 || Prosecutors File Formal Complaint Against Infamous BTC-e Crypto Exchange: According to acourt documentfiled on July 25 in the Northern District of California, BTC-e and its executive Alexander Vinnik have been indicted for the alleged crimes of conspiracy, money laundering, unlawful monetary transactions, and operating an unlicensed exchange. The now-defunct exchange and Vinnik face civil penalties of $88.6 million and $12 million, plus interest and costs, respectively, amounts initiallydeterminedby the Financial Crimes Enforcement Network (FinCEN) in July 2017.
In all, Vinnik has been indicted for 17 counts of money laundering and two counts of engaging in unlawful monetary transactions. While BTC-e and Vinnik were also charged with one count of operating an unlawful money services business and one count of conspiracy to commit money laundering.
Related:South Korea Estimates 2-Year Losses From Crypto Crimes at $2.3 Billion
Brought on behalf of the U.S. Department of the Treasury, the action paints a story of a firm’s blatant disregard for the law. The government alleges BTC-e and Vinnik were more than willing to launder and hold funds for some of the most nefarious organizations involved in the cryptocurrency industry, so long as its owners profited.
This includes funds received from the computer ‘hack’ that brought down prominent exchange Mt. Gox.
Unlike many legitimate crypto exchanges, the Cyprus and Seychelles-based BTC-e billed itself as an anonymous way to buy, sell, and transact in bitcoin and other digital currencies. Anyone, anywhere was allowed to operate on its platform without “even the most basic identifying information.”
Attorneys David Anderson, Sara Winslow, and Kirsten Ault allege this willfully substandard record keeping “contributed to its customers’ willingness to accept BTC-e’s unfavorable exchange rates compared to other legitimate” exchanges.
Related:Ex-CEO of Crypto Exchange WEX Arrested In Italy
Over its 6 year history, BTC-e served approximately 700,000 users who traded over $296 million over more than 21,000 bitcoin transactions, not to mention the other coins. While not all of BTC-e’s clients were criminals, the investigators write:
“A significant portion of BTC-e’s business was derived from suspected criminal activity.”
Indeed, the firm’s lax approach to collecting user information, hosting of unmonitored open forums where users discussed ways to purchase illicit goods, and refusal to implicate the known criminals on its platform had attracted some of the industry’s worst players, and eventually the government’s attention.
The firm allegedly cultivated its identity as a safe-haven for the criminal element.
In its chatroom, people “under monikers suggestive of criminality, including user names such as ‘ISIS,’ ‘CocaineCowboys,’ ‘blackhathackers,’ ‘dzkillerhacker,’ and ‘hacker4hire,’” would publicly discuss buying or accessing illicit materials on the dark-web.
Furthermore, the attorneys allege:
“On some occasions, customers contacted BTCe’s administration directly with questions regarding how to process and access proceeds obtained from the sale of illegal drugs and from transactions on known “darknet” illegal markets, including Silk Road.”
At no point did BTC-e ring the alarm, and money kept flowing in.
The attorneys singled out the business relationship forged between BTC-e and Costa Rica-based Liberty Reserve. Allegedly, the firms shared customers and even had a program were “BTC-e code” was redeemable for Liberty’s digital currency.
After Liberty Reserve was shuttered for laundering $6 billion in illicit funds – in an action where U.S. authorities seized the firm’s website and arrested its six principal operators – BTC-e failed to disclose the alliance and smuggled fund’s concealed on its platform.
That case was not an outlier. According to the attorneys, another unregistered and now-shuttered crypto exchange, Coin.MX, performed nearly 1,000 transactions on BTC-e’s platform. Coin.MX, too, was closed on money laundering and conspiracy charges following a Federal investigation. Yet, again, BTC-e failed to disclose this relationship in a Suspicious Activity Report mandated under the Bank Secrecy Act.
While all possible criminal connections cannot be listed here, according to the attorneys the firm harbored funds earned by malicious botnets, scams, and computer hijackings. They took money from identity thieves, and public officials who embezzled funds. And yet, “despite the rampant evidence of illegal activity on its platform, BTC-e did not file a single SAR.”
Instead of speaking out, BTC-e allegedly concealed this sort of illicit activity by instructing their clients to wire money to “front” companies, nominally distinct from the exchange. Furthermore, it is said, BTC-e never recorded or asked for identifying information when receiving wires.
BTC-e would further obscure and anonymize the funds by processing transactions through a layer of temporary addresses called a bitcoin “mixer,” a way to protect both sides of the deal.
What ultimately brought the firm down was its failure to register as a money transmitter.
In May 2016, a grand jury in California’s Northern District “returned a two-count indictment charging BTC-e and Vinnik with operation of an Unlicensed Money Services Business.”
Six months later, a grand jury pushed forward a twenty-one count superseding indictment against Vinnik and his firm. They alleged at no point had anti-money laundering policies set in place, “let alone an effective program for detecting and preventing suspicious transactions.”
Among the suspicious transactions were those from operator Vinnik, who allegedly skimmed money from clients and used the platform as a personal bank.
While Vinnik hasdenied the chargesagainst him, even denying he was an executive of the firm, the attorney’s office is attempting to prove he “operated several administrative, financial, operational, and support accounts at BTC-e.”
Vinnik, a Russian national arrested while vacationing in Greece in July 2017, has previously asked forextraditionto Russia. He faces a maximum 55 years in prison.
Lady justice via Shutterstock
US vs BTC-e/VinnikbyCoinDeskon Scribd
• UK Announces ‘Dirty Money’ Crackdown, Including Tougher Crypto Regime
• US Lawmakers Question Terrorist Use of Facebook Cryptocurrency || Kiks Claims About Kin Blockchain Inaccurate, Coin Metrics Report Alleges: Kik has made inaccurate claims about activity on its blockchain to the United States Securities and Exchange Commission ( SEC ,) a Coin Metrics report alleged on June 24. The report focused on two assertions made by the company about its Kin blockchain and eponymous cryptocurrency . In a November 2018 letter, Kik had claimed that its blockchain had exceeded Ether and Bitcoin in daily blockchain activity, demonstrating Kins wide acceptance and adoption . Coin Metrics claims daily operations, the measurement Kik used to gauge activity on its blockchain, included a high number of account creations but many of these accounts were being left empty. Although Kin did have a large number of on-chain payments , the report said it fell well below other major blockchains in terms of transfer value. Kik had also questioned why the SEC was regarding the token as a security when over 300,000 people earned and spent kin as a currency. On this second claim, Coin Metrics said there have only been about 35,000 addresses holding more than 10,000 kin (worth roughly $0.23 at press time) at its peak. The report added: This is orders of magnitude less than other blockchains in our sample, which each have at least 1,000,000 addresses that hold at least $1. Coin Metrics concluded that multiple metrics showed that Kin was not more widely used than dominant chains such as BTC and ETH, writing: It is therefore critical to examine multiple factors, including the type and quality of usage, in order to get a full picture of the activity on kin or any blockchain. Last month, Kik launched a $5 million crypto campaign to fund a legal challenge against the SEC to gain regulatory clarity. The company had raised almost $100 million during a token distribution event in September 2017, but the regulator later claimed that Kik may have violated securities laws. Related Articles: Grayscales Ethereum Security Now Listed on OTC Markets JPMorgan Will Pilot JPM Coin Stablecoin by End of 2019: Report US House of Representatives to Hold Hearing on Facebooks Libra in July Bitmain Shifting IPO Plans to the US on Growing Bitcoin Optimism
[Random Sample of Social Media Buzz (last 60 days)]
@RoadtoRoota Bix called this a long time ago. Things are about to get wild as everyone moves into Crypto! || ⏰ LIQUIDATION on BTC-PERPETUAL ☠️️
Sold $990 of #BTC @ $9014.00
16 Jun 2019 17:40:28 UTC
Trade ID: 24394640 || $EPAZ Epazz's patent-pending technology will allow users to place bets using Bitcoin and other cryptocurrencie || https://t.co/pchN1NN4gg || Swiss Data Protection Regulator Seeks Details on Facebook’s Libra
https://t.co/fYAXUCrKoq
#bitcoin #BitcoinTwitter #bitcoins #bitcoinnews #cryptocurrency #cryptocurrencies https://t.co/3aHFCOeEUn || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || Hey, check this out: [Police in Spain Say Bitcoin ATMs Expose Problems in Europe’s AML Laws] (via Quarry app)
https://t.co/Jo1Mu5nSha || $IDOL(BTC)
Price: 1sat
Volume: 0.0 BTC
$IDOL(DOGE)
Price: 0.00023 DOGE(0.0069sat)
Volume: 0 DOGE(0.0 BTC)
$BTC(JPY)
￥1034349 || $EPAZ's Bitcoin Sharing & Blockchain Social Media App Webbeeo Is In Alpha Testing Phase https://www.owltmarket || 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
|
Trend: up || Prices: 10399.67, 10518.17, 10821.73, 10970.18, 11805.65, 11478.17, 11941.97, 11966.41, 11862.94, 11354.02
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on 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 2018-02-20]
BTC Price: 11403.70, BTC RSI: 58.22
Gold Price: 1328.80, Gold RSI: 49.93
Oil Price: 61.90, Oil RSI: 49.08
[Random Sample of News (last 60 days)]
YouTube's Loss Could Be Facebook's Gain: Turmoil at Alphabet 's (NASDAQ: GOOG) (NASDAQ: GOOGL) YouTube is blood in the water for a shark like Facebook (NASDAQ: FB) . CNBC is reporting that the social networking giant is talking to media buyers about expanding the Facebook Watch program, in which it places ads on videos created exclusively for the platform by its partners. Facebook shares a little more than half of the ad revenue with the content creators. Reports that Facebook is ramping up its efforts to broaden the amount of content it slaps revenue-sharing ads on comes when Google's YouTube is going the other way. The popular streaming site announced two weeks ago that it will kick out members of its YouTube Partners monetization program who have fewer than 1,000 subscribers or are generating less than 4,000 hours of views over the past 12 months. The move comes after YouTube has suffered through scandals with a couple of its more popular content creators. Popular YouTube Partners celebrating a YouTube Red milestone. Image source: Alphabet's YouTube. Passing ships in different streams If Facebook and Alphabet seem to be going in different directions here, it's because each dot-com giant is in a different place. One of the surprises in Facebook's quarterly report last week is that folks are spending less time on the site. Facebook argues that this is by design, as it's emphasizing the quality of the connections. However, with on-demand video becoming such a part of the digital advertising landscape, it certainly wouldn't hurt if it expanded its catalog of content. Alphabet's approaching things differently. It's losing the trust of marketers by placing ads on popular channels that have hosted everything from suicide victims to staged child abuse. Booting the smaller content creators from its program is wrong, as by Alphabet's own admission 99% of those being kicked out haven't even met the minimum requirement for a check over the past year. However, the price of having to assign humans to monitor the content for its premium creators is that there's no time to police the smaller partners. Story continues There's an understandable uproar among the YouTube Partners being purged from access to monetization. Social media's ablaze with angry vloggers, sketch teams, and tutorial makers upset that Alphabet's moving the goalposts, especially since YouTube is likely to slap ads on those clips anyway. There could be a migration to Facebook if Mark Zuckerberg turns on the monetization spigot to the masses, but that's not likely to happen for a long time. Facebook will probably continue to appeal to established content creators with large built-in audiences. The silver lining for displaced YouTubers is that the CNBC report claims that Facebook is talking to media buyers about tiered advertising, potentially opening up the floodgates for an entry level of low-paying ads that can at least get the process starting for small content creators. Despite YouTube's percolating popularity with more than 1.5 billion users worldwide, a video-sharing site is only as potent as its content. If Facebook is about to turn its equally massive global audience into a bastion of cottage industries, there could be a real battle for supremacy here. "This is going to open the door for other social media sites and video-sharing outlets to introduce monetization solutions for mainstream users," I argued last month . The door isn't open at Facebook just yet, but you can start to see the crack of light on the other side now. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Rick Munarriz has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Facebook. The Motley Fool has the following options: short March 2018 $200 calls on Facebook and long March 2018 $170 puts on Facebook. The Motley Fool has a disclosure policy . || What to Expect From Amgen, Inc. in 2018: Amgen, Inc.(NASDAQ: AMGN)treated investors to another year of double-digit bottom-line growth in 2017, and plans to do it again in 2018. That's a tall order for a company that's been reporting sinking sales for many of its best-selling products.
Here's what we can expect to see from the big biotech's development pipeline this year as it attempts the seemingly impossible, again.
Image source: Getty Images.
In 2016, Enbrel, Neulasta, Aranesp, Epogen, and Neupogen generated a combined $14.75 billion in sales. By the third quarter of 2017, annualized top-line contributions from the same five drugs were $1.14 billion lower.
Declining sales of the company's aging blockbusters was a stiff headwind for more recently launched drugs to overcome, which is why total sales of $16.23 billion recorded during the first nine months of 2017 was a few million less than the company reported during the previous year's period.
Aging blockbusters will continue to pressure Amgen's top line in 2018. The FDA approved a lower-costbiosimilarversion of Enbrel called Erelzi in 2016, but a court challenge from Amgen still prevents its launch.Novartis(NYSE: NVS)expects the challenge in question to reach a conclusion this year, which could allow it to finally launch Erelzi in 2018.
Since earning approval in 2010, Amgen's bone-density drug, Prolia, has been firing on all cylinders. Third-quarter Prolia sales surged 22% over the previous-year period to an annualized $1.9 billion run rate.
Although I don't think Prolia will overtake Enbrel and Neulasta in 2018, this could be the company's best selling drug in a few years. Osteoporosis leads to broken bones for one in three women over the age of 50, and older adults are America's fastest-growing demographic.
Amgen has another drug aimed at a large patient population that's slowly gaining steam, Repatha. A lot of people can't control their cholesterol with cheap generic statins. Repatha did a fine job for this underserved group during trials that led to its approval, but insurers are extremely reluctant to pay for the drug without proof it lowers risk of heart attacks and other cardiovascular events.
Amgen provided the proof and the FDA adjusted the drug's prescription label to reflect it late last year. Now physicians can prescribe Repatha to reduce risk of heart attack and stroke foranyadult with established cardiovascular disease.
In the third quarter last year, Repatha sales more than doubled to an annualized $356 million. Now that physicians have a much wider hoop to jump through to prescribe Repatha, we could see sales of the drug surge in 2018.
Image source: Getty Images.
New CAR-T therapies are all the rage lately, but Amgen contends it built a better mousetrap years ago that nobody's noticed yet. In a nutshell, CAR-T therapies involve removing each patient's immune cells, then modifying them to recognize cancer cells before reintroducing them to each patient a few weeks later.
In 2014, Amgen earned approval for Blincyto, the firstbispecificantibody approved to treat cancer. As the name implies, bispecific antibodies employtwopockets that immune cells and cancer cells in place long enough for one to recognize the otherin the bloodstream. The concept is interesting, but Blincyto sales have been dull since the drug earned FDA approval to treat a rare form of leukemia in late 2014.
Blincyto sales totaled just $129 million in 2017, but Amgen thinks it could go much further as a treatment for an aggressive form of lymphoma that's also treatable with Yescarta, a recently approved CAR-T therapy fromGilead Sciences(NASDAQ: GILD). Blincytolesseneddisease activity for six of 11 patients treated, while 51% of patients treated with Yescarta displayed no disease activity at all.
There haven't been any head-to-head studies between Yescarta and Blincyto, so it's still hard to make direct comparisons. That said, Blincyto doesn't appear nearly as effective as Yescarta in this population. That doesn't bode well for this cornerstone of Amgen's oncology strategy, but it probably won't stop the company from from carrying out expensive plans to advance a dozen bispecific antibody programs in 2018.
Investors will want to keep an eye open for Amgen's first neuroscience drug, Aimovig, for the treatment of migraine headaches. Amgen submitted an application for this first-in-class drug last summer, and the FDA is expected to issue an approval decision on or before May 17.
Amgen thinks around 3.5 million underserved Americans that suffer chronic migraines could become Aimovig customers if the FDA gives its blessing. In a big trial supporting the drug's application, 50% of those treated experienced 50% fewer migraines. That appears competitive with similar therapies in development by Amgen's peers, which means we can probably look forward to a successful launch in the back half of the year, if approved.
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Cory Renauerowns shares of Gilead Sciences. The Motley Fool owns shares of and recommends Gilead Sciences. The Motley Fool has adisclosure policy. || Should ETF Investors Worry About Their Interest-Rate Sensitive Stocks?: This article was originally published on ETFTrends.com. Stocks have come roaring out of the gate to start 2018 as the bull market extends to unprecedented heights. Momentum and volatility-agnostic investors have been treated to a continuation of the same strong trends that dominated last years markets. Yet, even with so much enthusiasm spread among the major diversified indices, there remains lackluster sentiment for many interest-rate sensitive stocks and sectors. Interest-rate sensitivity has traditionally been the realm of fixed-income, where bond prices and bond yields are negatively correlated. Nevertheless, there are many areas of the U.S. equity markets that also key in to the fluctuations of U.S. Treasury yields. The foremost of which are utility, REIT, and financial stocks. The connection has always been that rising yields are a net positive for financial stocks. This dynamic creates wider margins on traditional banking, financing, and insurance-related activity. The exact opposite is true for the utility and real estate sectors. Both of which rely heavily on debt and collateral obligations to fund growth and ongoing business operations. Those conventional correlations have continued to stand up over the last three months as the 10-Year Treasury Yield swung from an October low near 2.275% to a new cycle high of 2.65%. This jump in interest rates, while not overly catastrophic to diversified bond investors, has put a damper on funds such as the Utilities Select Sector SPDR (XLU) . This exchange-traded index fund tracks a basket of 28 large-cap utility stocks from within the broader S&P 500 Index. Top holdings include companies such as NextEra Energy Inc (NEE) , Duke Energy Corp (DUK) , and Dominion Energy Inc (D) . Since topping out in mid-November, XLU has tumbled over 12% and recently hit new year-to-date lows. Its also notable that this fund is the only major S&P sector below its long-term 200-day moving average. Story continues The most interesting thing about this decline is that it has occurred as the rest of the market has continued to push to new all-time highs. The lone dynamic of interest rates has taken their toll on utilities as investors pullback their risk appetites for these stalwart companies. The flip side of course is that XLU is now far more attractive for those with a relative value mindset who may opt to consider their stable dividend streams and historically lower volatility. This ETF now sports a dividend yield of 3.53%, which is more than double that of the SPDR S&P 500 ETF (SPY). Another sector feeling the sting of interest rate activity is the Real Estate Select Sector SPDR Fund (XLRE) . This ETF and many of its peers such as the Vanguard REIT ETF (VNQ) have seen prices fall 6-8% over the last two months and are currently trading below the flat line for the year. Real estate stocks havent experienced quite the same measurable price decline as utilities, but still sport obvious sensitivity to higher financing rates. Some of the larger companies that make up this group include Public Storage (PSA) and AvalonBay Communities (AVB) . Many income investors love the attractive yields that these sectors provide in comparison to other growth-focused industries. Yet that same dynamic is also why these stocks can diverge from the momentum of the broader market. They can often assume characteristics of bonds as risk appetites shift along varying cycles. The Bottom Line The short-term underperformance of any sector is a common occurrence that must be evaluated within the context of why you own it or are considering a purchase to begin with. The overriding risk factor in this situation is the continued ascent of interest rates weighing on future gains in both utilities and REITs. Nevertheless, the market is often quick to undergo short bouts of anxiety that are just as soon alleviated as other themes or fears capture investor attention. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. This article was republished with permission from FMD Capital Management. POPULAR ARTICLES FROM ETFTRENDS.COM Fear is Creeping Back into Stocks, Shining a Light on Gold Shorts Target a Big High-Yield Bond ETF Transportation ETFs Could be Ready to Rally Traders Return to Volatility ETPs After XIV Meltdown ETFs Could Revolutionize Bitcoin Access
if They Come to Market READ MORE AT ETFTRENDS.COM > || 5 Highest-Growth Drugs of 2018 -- and Who Will Get Rich from Them: A billion dollars.
That's the minimum for the amount of additional sales a drug must have to make market research firm EvaluatePharma's ranking of the highest-growth drugs of 2018. EvaluatePharma looked at all of the drugs on the market to determine which should achieve the highest year-over-year sales growth. Five drugs made the top of the list.
Which drugs will generate the greatest sales growth this year? Here they are -- along with the big pharma companies that are poised to get rich (or, more accurately, richer) from them.
Image source: Getty Images.
Merck(NYSE: MRK)will probably report 2017 sales for Keytruda of close to $3.5 billion. This year could be much bigger for the cancer drug. EvaluatePharma projects that Keytruda's sales will increase by $2.28 billion, a much higher jump than any other drug on the market.
Although diabetes drug Januvia has been Merck's top-selling product in the past, that should change in 2018, with Keytruda taking the top spot. Keytruda is also critical for Merck's pipeline, with several studies focusing on the drug in mid-stage and late-stage studies.
Humira ranked asthe world's best-selling drug in 2017. Revenue of over $18 billion pretty much guaranteedAbbVie's(NYSE: ABBV)autoimmune disease drug the top spot. Another year at the top in 2018 seems to be in the bag as well, with EvaluatePharma estimating that Humira will pull in another $1.42 billion this year.
It wasn't too long ago that many doubted if Humira could continue its reign. A biosimilar to the drug won approval in the U.S. Several companies are also in the process of developing other Humira biosimilar versions. However, AbbVieclosed a deal in 2017that should give Humira clear sailing, at least in the U.S., for several more years.
AbbVie also has another big winner on EvaluatePharma's list of the highest-growth drugs of 2018 -- Mavyret. The hepatitis C drug won FDA approval in August 2017. AbbVie didn't provide details of sales of the drug in the third quarter, but EvaluatePharma thinks Mavyret will grow sales by $1.18 billion in its first full year on the market.
Mavyret is one of 10 drugs mentioned by AbbVie CEO Rick Gonzalez at therecent J.P. Morgan Healthcare Conferencethat the company believes will enable it to increase non-Humira sales to $35 billion by 2025. AbbVie should have stiff competition in the hepatitis C market fromGilead Sciences' Epclusa, though.
Bristol-Myers Squibb(NYSE: BMY)andPfizer(NYSE: PFE)jointly market anticoagulant Eliquis. The two companies should report combined sales in 2017 for the drug of more than $7 billion. EvaluatePharma projects that revenue total will increase by $1.12 billion this year.
What about competition fromJohnson & Johnson's Xarelto, especially in light of the potential of its label being updated to reflect efficacy in preventing major adverse cardiac events? Pfizer executive Albert Bourlastated in Novemberthat he thinks any impact to Eliquis will be "limited" and that the drug's momentum will continue.
AbbVie isn't the only big pharma with two drugs on the list. Pfizer shares that distinction, with EvaluatePharma forecasting that sales for the company's cancer drug Ibrance will increase by $1.08 billion in 2018. That jump would translate to revenue for Ibrance in the ballpark of $4.4 billion this year.
There are other CDK4/6 inhibitors on the market now in addition to Ibrance. However, Pfizer thinks that Ibrance will maintain an advantage in the marketplace. The company is evaluating the drug in three late-stage studies that, if successful, could give Ibrance additional indications.
AbbVie, Bristol-Myers Squibb, Merck, and Pfizer all stand to rake in a lot more money this year thanks to these fast-growing drugs. But which of these big pharma stocks offers the best opportunity for investors to also profit? My pick is AbbVie.
Not only does AbbVie claim two drugs on this list, but the company also has rising stars with Imbruvica and Venclexta. AbbVie's cancer drug Rova-T also landed a spot among thebiggest new drugs of 2018. The company hopes to launch the drug by the end of the year. EvaluatePharma projects that Rova-T will generate sales of $1.4 billion by 2022.
In addition, AbbVie's dividend yield stands at 2.83%. The yield was a lot higher, but the stock gained a whopping 54% in 2017, pushing the yield downward. I don't expect that impressive of a performance this year. However, AbbVie continues to be one of my favorite pharma stocks for the long run.
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Keith Speightsowns shares of AbbVie, Gilead Sciences, JPMorgan Chase, and Pfizer. The Motley Fool owns shares of and recommends Gilead Sciences and Johnson & Johnson. The Motley Fool has adisclosure policy. || Facebook, Twitter are under pressure to investigate #ReleaseTheMemo: The #ReleaseTheMemo social media campaign swelled last week as many, including Wikileaks and Edward Snowden, called for the memo to be released to the public. Now, two members of Congress are asking Twitter and Facebook to look into a potential Russian role in the viral spread of the hashtag campaign. The memo in question is one written by Representative Devin Nunes, a Republican on the House Intelligence committee, that alleges the intelligence community committed abuses that impact the president. The memo claims to be based on top secret intelligence shared to a small group of Congressional leaders by the FBI. However, Representative Adam Schiff, a Democrat on the committee who was also present at the meeting with the FBI, has said that the memo is "a misleading set of talking points attacking the FBI." Democrats have said that the memo is only meant to undermine Special Counsel Robert Mueller's investigation into collusion between the Trump administration and Russia. Of course not, but when the chairman of House Intel (HPSCI) claims there's documented evidence of serious surveillance abuses, it matters. If true, the citizens must see the proof. If false, it establishes HPSCI lies and has no credibility. Either outcome benefits the public. https://t.co/IsRcR1azvP — Edward Snowden (@Snowden) January 19, 2018 Last Thursday, the House Intelligence committee voted to make the memo available to all Representatives and the #ReleaseTheMemo campaign continued to spread. But Representative Schiff and Senator Dianne Feinstein have now written a letter to Twitter CEO Jack Dorsey and Facebook CEO Mark Zuckerberg requesting an investigation into who is involved in spreading the campaign across their platforms. They cite evidence provided by the German Marshall Fund's Alliance for Securing Democracy , which has said that by last Friday the hashtag was "the top trending hashtag among Twitter accounts believed to be operated by Kremlin-linked groups." The group also said it was being used 100 times more than other hashtags used by accounts believed to be associated with Russian actors. #ReleaseTheMemo : Do you know someone who has access to the FISA abuse memo? Send them here: https://t.co/cLRcuIiQXz WikiLeaks will match reward funds up to $1m sent to this unique Bitcoin address: 3Q2KXS8WYT6dvr91bM2RjvBHqMyx9CbPMN or marked 'memo2018': https://t.co/lmsmphuH2N pic.twitter.com/j1YEkXqi2S — WikiLeaks (@wikileaks) January 19, 2018 "If these reports are accurate, we are witnessing an ongoing attack by the Russian government through Kremlin-linked social media actors directly acting to intervene and influence our democratic process," said Schiff and Feinstein in the letter. "This should be disconcerting to all Americans, but especially your companies as, once again, it appears the vast majority of their efforts are concentrated on your platforms." They request that the two companies look into whether there are any Russia-linked accounts involved in the hashtag campaign and if so, how many. They also want information on the frequency and volume of their posts as well as how many others on Facebook and Twitter have been exposed to their posts. They're requesting the two companies provide a public report to Congress by January 26th. || Bitcoin miners flood into this farming county in Washington: Chelan County, Washington, an agricultural area two and a half hours from Seattle, has been known for producing apples and cherries. Lately it has a new specialty: bitcoin . With 16 cryptocurrency mining operations up and running since 2016, Chelan County’s local power provider, Chelan Public Utility District (PUD), is dealing with a surge in new requests to build more mining groups at a much larger scale. Mining could become a multimillion-dollar business in the county with a population of 72,400. But allowing the mining to expand even further is not an easy decision. Chelan County, Washington is an agricultural and recreational area. Until bitcoin miners flooded in. (Getty Images) Chelan PUD has multiple concerns: the huge load on the local electricity system, the new demand on infrastructure, and possible risks when cryptocurrency prices drop. From Oct. 17 to Dec. 17, 2017, Chelan PUD received more than 75 “high density loads (HDL)” inquiries, asking for a power supply ranging from 5 MWs to 100 MWs. During the same period, the price of bitcoin skyrocketed threefold to almost $20,000. “We’ve heard from folks who want to add mining machines tomorrow,” Suzanne Hartman, a spokesperson for Chelan PUD, tells Yahoo Finance. “All I know is: it won’t be tomorrow.” Chelan boasts cheap electricity, but hurdles remain A screenshot from Chelan PUD website. PUD acknowledges unapproved mining activities exist and are becoming an increasing area of concern. With some of the lowest electricity costs in the U.S., Chelan County is a prime location for cryptocurrency mining, in which expensive machines create new bitcoins by racing to solve complex mathematical computations — generating a lot of heat in the process . Electricity costs 2.7 cents per kWh in the county, while the national average is 10.4 cents. Thanks to the Columbia River and Lake Chelan, the PUD generates more hydroelectricity than what local homes and businesses need. But even with the surplus electricity, Chelan is not quite ready for giant mining farms, which require up to 100 MWs, half of the community’s normal load. “If we accept those, we need to do some major infrastructure investments,” says Hartman of PUD. “That doesn’t happen overnight. We’re not there yet.” Story continues Miners insist it’s worth the investment. Chelan County PUD has received out-of-state requests, and has been directly contacted by individuals from China, where more than half of the world’s mining activity takes place but recent government policy has sought to curb bitcoin activity . Besides the cheaper power, it’s advantageous to mine in the U.S. where the business environment (for now) is more stable, says Nishant Sharma, a marketing manager at Bitmain, China’s largest mining operator: “The documents are signed and the purposes are very clear. Nothing changes as you establish the facilities.” In China, a mining farm can be set up much faster than in the U.S., but “there could be unexpected changes,” Sharma says. For now, Chelan’s infrastructure can only accommodate smaller mining facilities with power supplies under 5 MWs. It takes the Chelan County PUD up to a few months to set up a mining farm of that size, according to Hartman, noting that it’s hard to even give an estimate on how long it would take to support a larger farm because the power authority would have to build new power substations. For now, Chelan County PUD is putting the needs of their regular customers first, over the requests of bitcoin miners flooding into town. “We’re a publicly owned utility, we’re not going to have something like this adversely impact those people who’ve invested in our power generation for years,” says Hartman. “If bitcoin will not be successful, we will be left with a lot of stranded assets we’ll still have to pay for. We want to ensure our customers don’t get left holding the bag.” Krystal Hu is a reporter at Yahoo Finance. Follow her on @ readkrystalhu Yahoo Finance is holding a live summit on cryptocurrencies, featuring a range of big-name guest speakers, on Feb. 7 in New York City. Get your ticket here . Read more: Bitcoin miner: ‘I haven’t paid for heat in three years’ How Chinese bitcoin buyers are getting around the government ban Meet some people getting rich from bitcoin Follow Yahoo Finance on Facebook , Twitter , Instagram , and LinkedIn || Why Pure Storage Inc. Stock Jumped Wednesday: What happened Shares of enterprise data storage platform Pure Storage (NYSE: PSTG) jumped on Wednesday, rising as much as 11.1%. The stock is up 10.8% at the time of this writing. The jump follows a price target increase from Barclays analyst Mark Moskowitz (via The Fly ). Moskowitz upgraded his rating from equal weight to overweight , or a rating that indicates an analyst believes the stock has a better-than-average chance of outperforming market indexes. A stock chart showing a stock price moving higher Image source: Getty Images. So what Moskowitz increased his price target from $19 to $22, or $3 higher. Even after today's higher stock price, Pure Storage trades at about $18. He believes Pure Storage's enterprise data storage platform is poised to gain market share as it uses "its software advantage to win new deployments," wrote The Fly. In its most recently reported quarter, the company demonstrated its momentum with a 41% year-over-year increase in revenue and over 300 new customers, bringing the total to more than 4,000 organizations. Fortune 500 companies comprise over 25% of Pure Storage's customers. Now what CEO Charlie Giancarlo asserts that Pure Storage's offerings are simpler and more effective than those of competitors. The company's clear value proposition will likely help it stand out from peers in 2018. For Pure Storage's fourth quarter of fiscal 2018, which started on Nov. 1, 2017, management expects its first profitable quarter on a non-GAAP basis. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Daniel Sparks has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || What Will Grocery Shopping Look Like in 2018?: How Americans buy nearly everything has begun to change. People no longer simply drive to a nearby store and buy what they need. Instead, most things can be ordered online, and that has impacted the entire retail sector.
The supermarket/grocery business has already felt some of these changes. Going forward, however, the pace of change is going to pick up. That means that services like same-day delivery, which numerous regional chains as well asCostco(NASDAQ: COST),Amazon's(NASDAQ: AMZN)Whole Foods, and Amazon itself offer in select markets, are likely to expand. In addition, other ideas that make shopping easier will be implemented, according toGroceryStories.comJohn Karolefski.
"Consumers can expect a focus on convenience as grocers make shopping easier and more enjoyable in 2018," he said in a press release, laying out some of the top trends to expect in the new year.Karolefski, who spent 15 years as senior editor ofSupermarketNews, has covered the grocery/supermarket business for 25 years.
Supermarkets will continue to change how we shop in 2018. Image source: Getty Images.
More shopping options:This year, Costco added both same-day delivery through Instacart and two-day delivery for orders from a limited number of items on orders over $75. In addition,Wal-Mart(NYSE: WMT)andTarget(NYSE: TGT)tested curbside pickup and various other methods to make ordering online and picking up in store easier.
Expect more of this in 2018, says Karolefski, with new ideas being tested and chains starting to see what works. There will be heavy trial and error here and what consumers want may vary greatly by market and geography.
Mobile payment at checkout:This is already being done at progressive retailers like Whole Foods. Expect other national chains to follow with some offering more than one mobile payment choice.
More eating and drinking in stores:Getting people to leave their houses has become harder. That makes expanded food selection, coffee bars, beer and wine bars, and even restaurants a major draw. Expect more chains to follow the model used by Whole Foods and, in a different way, Costco, where getting a bite to eat and/or something to drink is part of the overall experience.
More meal kits:While companies likeBlue Apronmay have created a market formeal kits, supermarkets are well-positioned to offer their own take. That means that chains will do everything from offering recipe cards in stores next to the needed ingredients to selling dish ingredients as a package.
This is a growing market that's based on convenience. Supermarkets can in some ways be more convenient than a dedicated meal delivery service because they offer the ability to act impulsively and walk home with what you need to make your desired meal.
More access to product information:The internet has made consumers more discerning. People expect more information because information of all types is easier to come by.Karolefskinoted that companies in the food space have added scannable codes to nearly 15,000 packaged items that bring shoppers to a website containing detailed information about that item.
"A major education campaign will take place in 2018 to make shoppers aware of the codes and prompt them to scan to learn more about the food they are buying,"he said.
Amazon has largely led the way in prompting retailers to put their customers first. The online giant has relentlessly moved the bar when it comes to convenience and pricing across a variety of retail areas. Now that it has its sites set on food -- both through its ownAmazon Freshservice and Whole Foods -- expect it to push other grocery chains to be equally innovative.
In addition, Wal-Mart and Target have both recently purchased logistics companies, at least partly to help with figuring out the grocery business. Those big players, trailed by Costco, will push regional supermarket and smaller grocery chains to innovate as well, with customer experience and choice at the forefront.
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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.Daniel B. Klinehas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon. The Motley Fool recommends Costco Wholesale. The Motley Fool has adisclosure policy. || An investing startup that grew by $100 million in a single day just got some big name backing: Robots VCG/Getty Images Robo-adviser Wealthfront landed $75 million in a new fundraising round, the company announced Thursday. Tiger Global Management, the New York-based investing firm, is leading the fundraise. Wealthfront will use the cash to enhance its Path tool and continue to attract younger investors to its purely automated platform. Tiger Global Management is making a big bet on a California investing startup. Wealthfront, a robo-adviser with more than $9 billion under its management, announced Thursday that Tiger Global, the New York investment firm, would lead a $75 million fundraising round. The firm, which declined to share its valuation with Business Insider, was founded in 2011. It counts Benchmark Capital, DAG Ventures, and Greylock Partners among its investors. Wealthfront plans to use the new capital to enhance its Path platform, which allows users to view all of their financial accounts. "Path's appeal to young people propelled our growth such that people under 45 now represent 85% of our clients," Wealthfront cofounder Andy Rachleff said in a statement. "We believe our success with this group is based on our unique ability to optimize and automate our clients' personal finances." Wealthfront has adamantly held on to its belief that the future of financial advice is in automation. Unlike fellow robo-adviser Betterment and incumbent rivals such as Charles Schwab, Wealthfront has remained a pure robo without human advisers. The strategy appears to be working. On Wednesday, the firm's assets grew by $100 million, a spokesperson told Business Insider. That growth was fueled by both new desposits and stock market gains. "A software only approach specifically appeals to a younger demographic, and we have embraced that," Rachleff told Business Insider during a recent visit to New York. "Whereas the rest of the industry, as Wayne Gretzky would say, is skating to where the puck is, not where it is going to be," he added. Story continues That laser focus was part of the appeal for Tiger Global. "Wealthfront's exclusively software-based model gives the company a superior approach to capture the younger, fast-growing market of investors," said Lee Fixel , a partner at Tiger Global Management, in a press release. "We're excited to support continued growth of the business and help Wealthfront become to the Millennial generation what Charles Schwab is to Baby Boomers." In just three years global millennial wealth could stand at $24 trillion, according to UBS, the Swiss money manager, up $7 trillion from 2015. NOW WATCH: The CIO of a crypto hedge fund reveals why you should be cautious of the ICO bubble See Also: Bitcoin is fighting back Bitcoin futures are getting burned The 11 biggest ICO fundraises of 2017 || 3 Things to Watch in the Stock Market This Week: Stocks logged big gains last week following two consecutive weeks of declines. With increases of almost 5%, the Dow Jones Industrial Average (DJINDICES: ^DJI) and the S&P 500 (SNPINDEX: ^GSPC) returned to positive territory for 2018, up roughly 2% each. Earnings season remains in high gear, with hundreds of companies set to announce holiday-quarter results over the next few trading days. Some of the most anticipated reports are coming from Home Depot (NYSE: HD) , Domino's (NYSE: DPZ) , and Walmart (NYSE: WMT) . Home Depot's outlook Home improvement titan Home Depot announces its results on Tuesday, and while the holiday quarter isn't its biggest sales period, investors are still looking forward to this update. After all, the company's last outing showed its fastest expansion in years . That boost had a lot to do with the hurricanes, earthquakes, and wildfires that struck different sections of its sales footprint. However, Home Depot earned more than its fair share of that recovery business, with comparable-store sales soaring 7.9% compared to a 5.7% gain for rival Lowe's . CEO Craig Menear and his team are predicting that full-year comps will rise by 6.5% to mark a nice acceleration over the prior year's 5.6% -- and the 3.5% gain that Lowe's is targeting. Look for the home improvement giant to announce a healthy boost to its dividend, as well, even as it likely forecasts a growth slowdown in 2018 following 2017's banner result. Domino's market share Few restaurant chains can claim anything approaching the success that Domino's has seen in the past decade. Comparable-store sales have outpaced rivals by a wide margin as its share of the pizza delivery market shot up from 19% in 2007 to nearly 30% today. That gap was evident in Domino's most recent results, as comps improved by 8.4% , compared to 2% or less for rivals including Yum Brands ' Pizza Hut and Papa John's . The increase helped power a tasty 19% spike in net income, and shareholders are expecting more of the same in Tuesday's results. Story continues A man and woman each take a bite of pizza. Image source: Getty Images. Domino's long-term forecast calls for comps to rise by between 3% and 6% annually for the domestic business, and that will take continued innovations around home delivery as more fast-food giants enter that market. Management is just as excited about their opportunities in international markets, though. This segment represents a small portion of the business today, but, given the chain's low-cost operating model, it could quickly ramp up to a significant growth source. Walmart's profit forecast The world's biggest retailer announces its holiday-season results before the market opens on Tuesday. Management's last official forecast called for a continuation of the modest rebound that Walmart has enjoyed for over a year now, with comparable-store sales rising between 1.5% and 2%, translating into adjusted earnings of between $4.38 per share and $4.46 per share. Customers browsing inside WalMart. Image source: Walmart. If rivals' results are any indication, the company could reveal a slightly higher result. Target raised its fourth-quarter comps forecast in mid-January following a strong holiday sales period. And Costco saw its comps jump to 7% from 5.8% in the prior quarter. For Walmart to report a similar acceleration, it will need to have won more traffic in its physical stores and at its website and shopping apps. The retailer has been pouring resources into both sales channels, and investors are hoping that 2018 marks the start of a profit rebound given that revenue growth appears to be back on track. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Demitrios Kalogeropoulos owns shares of Costco Wholesale and Home Depot. The Motley Fool has the following options: short May 2018 $175 calls on Home Depot and long January 2020 $110 calls on Home Depot. The Motley Fool recommends Costco Wholesale, Home Depot, and Lowe's. The Motley Fool has a disclosure policy .
[Random Sample of Social Media Buzz (last 60 days)]
One BTC is currently worth $9310.00 USD || Cotizaciones al 10/02/2018 06:00 AM
Bitcoin (BTC): 48.517.897
Ethereum (ETH): 4.861.506
Litecoin (LTC): 891.812
Monero (XMR): 1.438.602
Dash (DASH): 3.571.893
ZCash (ZEC): 2.668.977 || Yeah most alts are weaker in a weak market. Not Litecoin not this dip || [29/12 22:41:00] MAID/BTC: buy at HitBTC for 0.00006032 (volume: 1282759.0) and sell at Bittrex for 0.00007133 (volume: 1373084.5594). Arbitrage percentage is 18.25% || Banks, Retailers, China Have All Turned On Bitcoin https://www.forbes.com/sites/kenrapoza/2018/02/05/banks-retailers-china-have-all-turned-on-bitcoin/ … by @kenrapoza || Bittrex - Volume changed on BlackCoin (BTC/BLK)! Price: 0.00007700 (+18.74%), Volume: +30.52%, Mentions Daily: +6.00% https://goo.gl/RWbFHj || New Airdrop
Ohtani Coin
Register for 500 tokens and more ways to earn!!!
Just follow the link http://ohtanicoin.com/account/?mref=Gall0wsraven …
#Airdrop #Bounty #Crypto #AltCoinAirdrop #token #Bitcoin #ico || Como ves @ja2lopez ? tu que piensas, la económia de México esta chingona, solides de la BMV o falta de penetración del país en el mundo de las Cripto Divisas? México es si no me equivoco la 2da menos golpeada por el meltdown de BTC. pic.twitter.com/sUcnJ1e595 || 2017年12月31日 06:00
[DOGE建]
1XP=0.1285247円
24時間の最高値 0.172234円
24時間の最安値 0.0645872円
[BTC建]
1XP=0.1117558円
24時間の最高値 0.1565764円
24時間の最安値 0.0586483円
時価総額ランキング: 87 位 / 全 901 中
#XP $XP || Good
|
Trend: up || Prices: 10690.40, 10005.00, 10301.10, 9813.07, 9664.73, 10366.70, 10725.60, 10397.90, 10951.00, 11086.40
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-03-29]
BTC Price: 416.52, BTC RSI: 49.50
Gold Price: 1235.60, Gold RSI: 51.98
Oil Price: 38.28, Oil RSI: 55.04
[Random Sample of News (last 60 days)]
Your first trade for Thursday: The "Fast Money" traders gave their final trades of the day.
Tim Seymour is a seller ofiShares MSCI Emerging Markets (EEM)
Brian Kelly is a seller ofEnergy Select Sector SPDR ETF(XLE)
Karen Finerman is a seller of Priceline (PCLN)
Guy Adami is a buyer of NetApp (NTAP)
Trader disclosure: On February 17 the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:
TIM SEYMOUR:Tim is long AAPL, BAC, DO, F, FCX, GM, GOOGL, INTC, JCP, NKE, SINA, T, TWTR, VZ, XOM. Tim's firm is long BABA, BIDU, KO, MCD, PEP, SAVE, SBUX, VALE, WMT,YHOO, short HYG, IWM.
BRIAN KELLY:Brian is long BBRY, Bitcoin, GLD, SLV, TLT, US Dollar; he is short Aussie Dollar, British Pound, CS, DB, Euro, EWH, Hong Kong Dollar, UBS, SPY, Yuan.
KAREN FINERMAN:Karen is long BAC, C, FL, GOOG, GOOGL, JPM, LYV, KORS, M, SEDG, SPY calls, URI, she is short SPY. Her firm is long ANTM, AAPL, BAC, C, C calls, FINL, FL, GOOG, GOOGL, JPM, KORS, LYV, M, MOH, NRF, PLCE, URI, her firm is short IWM, MDY, SPY. Karen Finerman is on the board of GrafTech International.
GUY ADAMI:Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
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• Top News and Analysis
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• Personal Finance || 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. Asked about the allegations, China's Foreign Ministry said on Tuesday that if they were made with a "serious attitude" and reliable proof, China would treat the matter seriously. But ministry spokesman Lu Kang said China did not have time to respond to what he called "rumours and speculation" about the country's online activities. The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions. Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement. Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware. It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell's cases, the means of access by the team spreading ransomware was established in 2013. The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments. Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities. PAYMENT IN BITCOIN Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats. In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks. Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay. Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams. The involvement of more sophisticated hackers also promises to intensify the threat. InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT. "The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab," Alderson said. (Reporting by Joseph Menn in San Francisco; Additional reporting by Megha Rajagopalan in BEIJING; Editing by Jonathan Weber and Clarence Fernandez) View comments || Canada's TSX hires Bitcoin guru, studies currency's technology: By Ethan Lou TORONTO (Reuters) - The Toronto Stock Exchange has hired a Bitcoin entrepreneur as its first chief digital officer as it explores the capabilities of blockchain, the technology behind the virtual currency, a senior executive at TSX parent TMX Group said on Thursday. Anthony Di Iorio, who has founded several companies based on the technology, filled the role at Canada's largest stock exchange in January, Jean Desgagne, chief executive of TMX's Global Enterprise Services, said in an interview. Stock exchanges are embracing blockchain, which allows Bitcoin users to conduct secure transactions without middlemen, as they seek to diversify and boost profit margins. When used to issue securities, the technology could potentially remove the need for clearing houses. "Blockchain is a disruptive technology," Desgagne said, noting that major changes could result from its potential adoption. "We're focused on it, we're going to learn." In January the Australian stock exchange said it had enlisted a blockchain startup to develop a new trade settlement system. Nasdaq in the United States used the technology last year to issue securities to an unidentified private investor. Last month, Nasdaq said it was developing a blockchain-based shareholder voting system for its Estonian stock exchange. Blockchain could make operations "better, faster, cheaper," Desgagne said, but noted that, if adopted, the technology would be only one element in TMX's digital operations. Di Iorio and Desgagne declined to discuss details about potential blockchain projects at TSX. Di Iorio is the founder of the Bitcoin Alliance of Canada and a co-founder of Ethereum, a blockchain-based computing platform. (Reporting by Ethan Lou; Editing by Euan Rocha and Richard Chang) || University of California Berkeley notifies 80,000 of cyber attack: SAN FRANCISCO (Reuters) - Officials at the University of California Berkeley said on Friday that they were alerting 80,000 people, including current and former students, faculty and vendors of a cyber attack on a system that stores social security and bank account numbers.
The news comes just more than a week after a Southern California hospital paid hackers $17,000 in the digital currency Bitcoin to regain control of their computer systems after a so-called "ransomware" attack.
The San Francisco Bay Area university said there was no evidence that attackers actually took any personal information, but that it was still alerting the 80,000 individuals to be on the lookout for misuse of their information.
The school said a hacker or hackers gained access to its financial management software in late December due to a security flaw present when the system is updating. Officials have notified law enforcement, including the FBI, and hired a private computer investigation company.
The university said among the potentially affected are 57,000 current and former students; about 18,800 former and current employees; and 10,300 vendors who work with the school. Those figures come out to about half of the school's current students and two-thirds of its active employees.
Large, high-profile organizations and businesses routinely come under cyber attack, and the school said it frequently identifies similar hacking attempts.
"The security and privacy of the personal information provided to the university is of great importance to us," Paul Rivers, UC Berkeley's chief information security officer, said in a statement. "We regret that this occurred and have taken additional measures to better safeguard that information."
The school said it was providing credit protection service free of charge to those potentially impacted.
(Reporting by Curtis Skinner in San Francisco; Editing by Sharon Bernstein) || 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) || BofA, Wells Fargo & JPMorgan to Roll Out Cardless ATMs?: Individuals may soon be able to use their smart phones to withdraw cash from ATMs. According to Reuters, which cited technology website TechCrunch, banking majors Bank of America Corp. BAC and Wells Fargo & Company WFC are working to integrate Apple Inc.s AAPL Apple Pay, a mobile payment system, into their ATM network, thereby eliminating the use of plastic cards. Betty Riess, a press representative for BofA, confirmed that the company is presently developing a new cardless ATM solution, which is expected to be available in selected ATMs in Silicon Valley, San Francisco, Charlotte, New York and Boston by the end of this month. Moreover, the facility will likely be available to a larger customer base by the end of 2016. Wells Fargo, which currently supports Googles Android Pay, is considering alternative wallets for its customers. Similar to BofA, Wells Fargo is expected to offer the facility initially at limited ATMs, and expand the same to a broader network by the end of 2016. The ATMs will incorporate near-field communication or NFC technology, which will allow customers to carry out their ATM transactions through smart phone-generated PIN codes. Notably, ATM users will be able required to log in to the respective mobile wallets, and then tap their smart phones to the machines NFC point in order to confirm the transaction. Currently, half of BofAs 16,100 ATMs are already NFC-equipped. Wells Fargo, on the other hand, intends to install NFC readers in at least one-third of its total 13,000 ATMs by the end of 2016. Apart from BofA and Wells Fargo, JPMorgan Chase & Co. JPM is also headed toward rolling out cardless ATMs in 2016. At present, the company is working on a code-based system that will generate a temporary password to facilitate the transaction through its mobile banking application. Notably, such a feature prevents pass codes from being misused or stolen. This apart, BofA and JPMorgan intend to incorporate additional features like pre-setting ATM transactions, which will not only help customers save time, but also lower security concerns owing to shorter duration. Why this Change? We believe higher dependence on smart phones will help banks capitalize on the growing number of active mobile users. During fourth-quarter 2015, the active mobile user headcount at BofA and JPMorgan surged 8% and 13% year over year, respectively. At Wells Fargo, the annual tally increased 14% from 2014. Further, the strategy is in line with the industry-wide focus on right-sizing retail network to curb expenses, as well as enhance customer experience. More importantly, smart phones offer better security compared with desktops and laptops, given their relatively higher protection layers. Bottom Line In this era of digitalization, customers appetite for mobile banking encourages banks to provide sophisticated mobile banking services. Moreover, since traditional methods are gradually taking a backseat, the financial institutions are making consistent efforts to attract and retain clients by offering better digital experience amid a competitive environment. Apart from smart phones, banks are also known to have shown 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. Recently, JPMorgan partnered with start-up firm Digital Asset Holdings to launch a trial project that utilizes the blockchain technology. According to Financial Times, the technology will likely aid in resolving liquidity mismatches in some of the companys loan funds. Moreover, it is expected to lower cost and complexities related to trading. Notably, in Dec 2015, The Goldman Sachs Group, Inc. filed a patent application with the US Patent & Trademark Office (USPTO) Cryptographic Currency For Securities Settlement for a new cryptocurrency called SETLcoin. 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 WELLS FARGO-NEW (WFC): Free Stock Analysis Report BANK OF AMER CP (BAC): Free Stock Analysis Report APPLE INC (AAPL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Your first trade for Thursday: The " Fast Money " traders gave their final trades of the day. Tim Seymour is a seller of iShares MSCI Emerging Markets (EEM) Brian Kelly is a seller of Energy Select Sector SPDR ETF(XLE) Karen Finerman is a seller of Priceline (PCLN) Guy Adami is a buyer of NetApp (NTAP) Trader disclosure: On February 17 the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: TIM SEYMOUR: Tim is long AAPL, BAC, DO, F, FCX, GM, GOOGL, INTC, JCP, NKE, SINA, T, TWTR, VZ, XOM. Tim's firm is long BABA, BIDU, KO, MCD, PEP, SAVE, SBUX, VALE, WMT,YHOO, short HYG, IWM. BRIAN KELLY: Brian is long BBRY, Bitcoin, GLD, SLV, TLT, US Dollar; he is short Aussie Dollar, British Pound, CS, DB, Euro, EWH, Hong Kong Dollar, UBS, SPY, Yuan. KAREN FINERMAN: Karen is long BAC, C, FL, GOOG, GOOGL, JPM, LYV, KORS, M, SEDG, SPY calls, URI, she is short SPY. Her firm is long ANTM, AAPL, BAC, C, C calls, FINL, FL, GOOG, GOOGL, JPM, KORS, LYV, M, MOH, NRF, PLCE, URI, her firm is short IWM, MDY, SPY. Karen Finerman is on the board of GrafTech International. GUY ADAMI: Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance || How big banks are paying lip service to the blockchain: IBM has high hopes for blockchain technology. The IT giantannouncedon Tuesday a laundry list of plans to use blockchain tech and to help developers do the same. IBM (IBM) will offer tools through its cloud service for building blockchain apps, and it will open up IBM "Garages" in London, New York, Singapore and Tokyo for experts to collaborate with developers on blockchain tech.
Taken in tandem with the recent flurry of banks and financial institutions expressing public interest in blockchain, the technology is having a moment. In September, a slew of banks including BBVA, Citi, Credit Suisse, JPMorgan, Royal Bank of Scotland, and UBS all joined a coalition,led by a firm called R3, to implement blockchain technology in banking. In December, five more big names hopped on board, including BNP Paribas, ING, and Wells Fargo.
But the great irony of the banks' interest in blockchain is that the idea of a blockchain for traditional banking defeats the purpose of the blockchain—at least as it has been used thus far, with the digital currency bitcoin. And top executives from some of the very same institutions that have signed on to R3 have separately disparaged bitcoin.
To understand what it is that banks claim to want to do with blockchain, you first need to understand the bitcoin blockchain, which is a public, decentralized ledger that records every single bitcoin transaction. Think of it like a library card in the cloud (not the card you use to take out a book, but the slip inside a book that lists all the borrowers). If you send a friend $5 worth of bitcoin, the transaction goes on the blockchain. If one bitcoin startup acquires another bitcoin startup for $500,000 in bitcoin, that, too, goes on the blockchain. And you can view the blockchain in real time, as transactions are uploaded, atblockchain.info. Transactions are added in bundles, called "blocks," by "miners," who receive a tiny fee in bitcoin as an incentive to mine. Miners use large, expensive computers to find and mine the blocks.
The excitement of the bitcoin blockchain, to people in the digital currency world, is the potential for decentralized applications to be built on top of it that cut out the middle man. And the blockchain can be used to store and send anything of value, so there are companies using it to store documents like property deeds and even marriage licenses.
And now: Enter the banks. They've long stayed away from bitcoin, which has a toxic public image thanks to headlines about bitcoin being used in embezzlement and Ponzi schemes. (Think of Mt. Gox andSilk Road.) MasterCard CEO Ajay Bangasaidhe believes bitcoin "starts bumping up against societal rules, which I worry about," and that, "it doesn’t give me the safety and security of knowing that I am who I am, and I’m paying who I know, which is what traditional currency does." And yet, MasterCard (MA) invested in Digital Currency Group, a venture firm that has itself invested in 65 different bitcoin and blockchain-enabled businesses. JPMorgan CEO Jamie Dimonsaidbitcoin "is going nowhere... There is nothing behind a bitcoin, and I think if it was big, the governments would stop it." And yet, JPMorgan (JPM) has signed on with R3.
Forget bitcoin, embrace blockchainBitcoin is doomed, if you ask Dimon. But the blockchain—nowthat'sexciting. As Dimonsaidon CNBC last month, "The blockchain is a technology, which we’ve been studying... and yes, it’s real. If it proves to be cheap and secure it will be adopted for a whole bunch of stuff."
Translation: Blockchain is hot, bitcoin is not. We are seeing this sentiment again and again. IBM, in its extensive press release this week about its blockchain efforts, does not use the word "bitcoin" once. Bitreserve, a cloud banking vault launched by CNET founder Halsey Minor and led byformer Barclays CIO Anthony Watson, was so eager to shed the stink of bitcoin that it changed its name to Uphold. Blockchain "is so hot right now,"writes Erik Voorhees, the CEO of bitcoin startup Shapeshift, while bitcoin "has been left by the wayside, ignored like an embarrassing relative at a family gathering.” (And yet the price of bitcoin is up 24% in the last six months, 85% in the last six.)
What will using blockchain tech even look like for banks? R3's web site says its mission is "building and empowering the next generation of global financial services technology." That's pretty vague. David Rutter, CEO of R3 and a former executive at London-based electronic brokerage ICAP, has said R3 will help banks and financial firms use the "fabric" of blockchain technology.
You might think that people in the bitcoin world are pleased to see big, incumbent financial institutions embracing the underlying technology behind the leading cryptocurrency. They are not. Most of them see the banks' stated interest as empty lip service so far.
What most people believe the banks want to do is employ somethinglikethe blockchain in their record-keeping processes: record customer deposits and withdrawals on a blockchain as opposed to whatever (likely outdated) software they currently use. Sounds simple enough. But it would have to be a closed ledger, accessible only to customers of the banks. And therein lies the contradiction: the bitcoin blockchain is public and open-sourced; nothing about it is closed.
"Ican see why banks are interested in using permissioned ledgers, and maybe it will make their back office more efficient," says Jerry Brito, executive director of digital currency nonprofit Coin Center. "But at the end of the day, it's not a very exciting innovation. The real innovation is a completely open and global ledger that is permission-less. Having a closed, permissioned ledger run by banks, that might allow for better auditing, but there’s no innovation there, you still have to go through a consortium to use the ledger." That is, what banks seem to want to do is incongruous to the purpose of the blockchain.
Digital Currency Group's Barry Silbert, who founded SecondMarket, which allowed for the trading of stocks in non-public companies, is similarly dubious of the "blockchain for banking" theme. "I’ve spoken quite publicly about my skepticism around the private blockchain approach," he tells Yahoo Finance.
If R3 doesn't yield innovative fruit, then why are banks rushing to join up? For starters, as a PR effort: once a few were involved, the others looked stodgy by delaying. But Brito also believes the interest will subside once banks actually learn more about blockchain technology. "I think right now investors are kind of waiting for Wall Street to get through this blockchain phase," he says. "They have blockchain fever and they need to just get over it. Because if they develop their own closed blockchains,soon they’ll all realize they want to talk to each other, and they’ll be back to square one, doing banking."
The bitcoin blockchain is open, global and permissionless. It has potential to serve as the backbone for additional exciting applications. If traditional banks want to employ it in their way, by acting as gatekeepers, it defeats the purpose. But don't expect that to dampen their public expressions of interest just yet.
This is the first in a three-part Yahoo Finance series about blockchain technology. Thesecond partis about how you can invest in the blockchain; thethird partis about the biggest names in the industry.
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Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more:
Bitcoin advocacy group scores funding from biggest names in industry
Bitcoin industry consolidates: Why Kraken bought Coinsetter
Bitcoin's biggest investor bought its biggest news site
Here's a sign that PayPal is embracing Bitcoin || Oil drives Wall St. higher; most & least favorite stocks; Amazon clothing line: Stocks (^DJI,^GSPC,^IXIC) are continuing their rally, boosted by higher oil prices (CLH16.NYM)following comments from Iran about limiting oil production.Keith Bliss of Cuttone & Co.joins us live from the floor of the New York Stock Exchange to discuss the markets.
Yahoo Finance's Alexis Christoforous talks about that and some of the other big stories of the day with Yahoo Finance Editor-in-Chief Andy Serwer and Yahoo Finance's Dan Roberts.
Stocks you love, stocks you hate
Love 'em or hate 'em? The latest filings from the Securities Exchange Commission are showing which stocks are being bought and sold by the largest investors. So far, the 13F filings are showing some of the leaders to be The Blackstone Group (BX), Visa (V), Amazon (AMZN), Google (GOOGL) and LinkedIn (LNKD). Pulling up the rear, we have Coca-Cola (KO), IBM (IBM), Apple (AAPL), Microsoft (MSFT), and ExxonMobil (XOM). Who will be the new leaders in 2016?
Bitcoin push
Virtual currency fans get no respect! Well, apparently that's how they feel, so Bitcoin believers are turning to a non-profit advocacy group to help lift some of the shroud of mystery surrounding cryptocurrency. Will it succeed, disrupt, or fail?
Amazon clothes
Would you buy your clothes from ... Amazon (AMZN)? The online retail powerhouse hopes so. Fashion news siteWWD reportsthe company is increasing hiring for Amazon Fashion Private Label, suggesting the line is getting closer to launch. || 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)
[Random Sample of Social Media Buzz (last 60 days)]
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Trend: up || Prices: 414.82, 416.73, 417.96, 420.87, 420.90, 421.44, 424.03, 423.41, 422.74, 420.35
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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 2016-10-04]
BTC Price: 610.20, BTC RSI: 54.92
Gold Price: 1266.30, Gold RSI: 28.29
Oil Price: 48.69, Oil RSI: 60.53
[Random Sample of News (last 60 days)]
Cyber threat grows for bitcoin exchanges: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - When hackers penetrated a secure authentication system at a bitcoin exchange called Bitfinex earlier this month, they stole about $70 million worth of the virtual currency. The cyber theft -- the second largest by an exchange since hackers took roughly $350 million in bitcoins at Tokyo's MtGox exchange in early 2014 -- is hardly a rare occurrence in the emerging world of crypto-currencies. New data disclosed to Reuters shows a third of bitcoin trading platforms have been hacked, and nearly half have closed in the half dozen years since they burst on the scene. This rising risk for bitcoin holders is compounded by the fact there is no depositor's insurance to absorb the loss, even though many exchanges act like virtual banks. Not only does that approach cast the cyber security risk in stark relief, but it also exposes the fact that bitcoin investors have little choice but to do business with under-capitalized exchanges that may not have the capital buffer to absorb these losses the way a traditional and regulated bank or exchange would. "There is a general sense in the bitcoin community that any centralized repository is at risk," said a U.S.-based professional trader who lost about $1,000 in bitcoins when Bitfinex was hacked. He declined to be named for this article. "So when investing, you always have that expectation at the back of your head. I lost a small amount compared to the others, but I know of traders who lost millions of dollars worth of bitcoins," the trader said. The security challenge for the bitcoin world does not appear to be letting up, according to experts in the currency. "I am skeptical there's going to be any technological silver bullet that's going to solve security breach problems. No technology, crypto-currency, or financial mechanism can be made safe from hacks," said Tyler Moore, assistant professor of cyber security at the University of Tulsa's Tandy School of Computer Science who will soon publish the new research on the vulnerability of bitcoin exchanges. Story continues His study, funded by the U.S. Department of Homeland Security and shared with Reuters, shows that since bitcoin's creation in 2009 to March 2015, 33 percent of all bitcoin exchanges operational during that period were hacked. The figure represents one of the first estimates of the extent of security breaches in the bitcoin world. In contrast, data from the Privacy Rights Clearinghouse, a non-profit organization, showed that of the 6,000 operational U.S. banks, only 67 banks experienced a publicly-disclosed data breach between 2009 and 2015. That's roughly 1 percent of U.S. banks. Among the world's stock exchanges, however, security breaches are much higher, with hackers attracted to the large pools of cash moving in and out of these trading venues. The latest survey of 46 securities exchanges released three years ago by the International Organization of Securities Commissions and World Federation of Exchanges found that more than half had experienced a cyber attack. Moore collaborated on the research with Nicolas Christin, associate research professor at Carnegie Mellon University and Janos Szurdi, a Ph.D. student also at Carnegie. In 2013, Moore and Christin wrote a research paper on security risks surrounding bitcoin exchanges when Moore was still a professor at Southern Methodist University. That research entitled Beware of the Middleman: Empirical Analysis of Bitcoin Exchange Risk was peer-reviewed and presented at the 17th International Financial Cryptography and Data Security Conference in Okinawa, Japan in 2013. In the most recent study, the rate of closure for bitcoin exchanges in Moore's research edged up to 48 percent among those operating from 2009 to March 2015. Hacking did not necessarily trigger the closure in each case. "A 48 percent closure is not acceptable, but not surprising given that bitcoin is a new technology," said Richard Johnson, vice president of market structure and technology at Greenwich Associates. Johnson has written reports on risk and security issues in the crypto-currency world. Profitability is a big problem for bitcoin exchanges, with many of them unable to generate enough volume to keep afloat. Bitcoin exchanges overall could be launched for as low as $100,000 up to $1 million, said Erik Voorhees, founder and chief executive officer of digital currency exchange ShapeShift. That is a fraction of what U.S. forex exchanges' are required to put up. Retail FX trading platform FXCM, for instance, is required by the Commodity Futures Trading Commission to have at least $25 million in capital at all times. RECOVERING LOSSES A key factor tied to the risk posed by exchanges is whether customers are reimbursed after closure or after the loss of bitcoins following a hack. Each closure and breach have been handled differently, but Tandy's Moore said the risk of losing funds stored in exchanges are real. In the case of Bitfinex, which is now up and running after the hack August 2, customers lost 36 percent of the assets they had on the platform and were compensated for the losses with tokens of credit that would be converted into equity in the parent company. At Tokyo's MtGox, customers have yet to recover their investments more than two years after closure. Experts say trading venues acting like banks such as Bitfinex will remain vulnerable. These exchanges act as custodial wallets in which they control users' digital currencies like banks control customer deposits. "The big exchanges that hold customer deposits are a big target for hackers," said ShapeShift's Voorhees, "and unfortunately most bitcoin exchanges store user funds." When customers' checking accounts are hacked, there is always a third party at the bank that can step in to deal with the theft. Not so with bitcoin, said Seattle-based Darin Stanchfield, chief executive officer at KeepKey, a hardware wallet provider. He expects more of these attacks to happen despite efforts to improve security at bitcoin exchanges. "Unfortunately because of its irreversible nature, bitcoin requires near perfect security." (Reporting by Gertrude Chavez-Dreyfuss; Editing by Edward Tobin) || With millions of helpers (and $100M), SETI 'still hasn't found ET'— here's why: What would Enrico Fermi do? For those unfamiliar with the name, Fermi was a famous scientist who postulated that if intelligent life on other planets actually existed, we would have found them by now — or they certainly would have found us. It's an idea that resonates, especially with vast sums of public and private money being thrown at space travel , accompanied by rapid advances in modern technology. Approximately a year ago, Russian billionaire Yuri Milner gave a $100 million gift to over a ten year span to the University of California to aid in the search for extraterrestrial intelligence (SETI). Since then, the SETI Institute has been occupied with its prime directive—understanding the universe and trying to contact aliens. Milner, a venture capitalist who was among the early investors in tech giants like Twitter and Facebook, is convinced that — given the billions of Earth-like planets and even more galaxies that exist — it's all but inconceivable that the human race is alone. SETI is flush with new riches and interest in outer space has reached a crescendo unseen since at least the 'Space Race' of the last century. Yet for years, skeptics have argued that attempting to explore the outer reaches of space was a waste of time. So it begs the question: Exactly why does discovering intelligent life outside of Earth remain so elusive, and why can't they (as in the aliens) be coaxed out of hiding? "We haven't found E.T.," Dan Werthimer, SETI's chief scientist and an astronomer at University of California at Berkeley, joked to a panel discussion at "Star Trek: Mission New York" on Saturday. E.T., of course, is a reference to the classic 1982 Steven Spielberg movie where an alien falls to earth, bringing a combination of delight and trouble to a group of kids. As Werthimer explained in more sophisticated fashion to the legions of Trekkies assembled to commemorate "Star Trek's" 50th anniversary, maybe E.T. doesn't want to phone home — or maybe he can't. Story continues Even with the morale and logistical boost $100 million can bring, it's quite possible E.T. may not exist. "Maybe they're [aliens] waiting for us to stop killing each other," Werthimer said in response to a question about why extraterrestrial life hadn't yet reached out to the human race. He posited that they themselves could be lower than earthlings on the evolutionary and technological scale, or perhaps we're beneath them. "There [are] a lot of different scenarios but the other possibility is that we really are alone and that's why we don't see them zooming around the galaxy," the scientist said. According to SETI, on any given day there are at millions of volunteers around the world working on various projects to prove there's life outside of earth. On Saturday, Werthimer joked that at least a million of them "bounded by optimism leave their [computers] on" in the hopes of intercepting a message from another world. "We've only had 100 years, but we'd be kind of lucky to find [alien life] now because we don't know what frequency to look at, we don't know if they're broadcasting radio and we can't cover the whole spectrum. But I'm optimistic because the technology is changing so fast." According to Werthimer, some SETI volunteers, perhaps impatient waiting all these years for E.T.'s arrival, are moonlighting by mining for Bitcoin, the cryptocurrency that's can be 'mined' using special software and solving complex math problems. Although numerous SETI volunteers take on side projects, digital currency mining is not a side gig Werthimer would recommend. Bitcoin is attractive "because you can make money that way. Although you can't make much [because] I think your power bill is more expensive," he said. "I dont think it's a good idea." All of which brings us full circle to the estimable Fermi. With all the technology surrounding human civilization and billions being invested in space exploration , what exactly is preventing E.T.'s eagerly anticipated arrival? One answer may be that aliens haven't yet caught up to humans technologically. "We don't know how to find them if they are more primitive than we are," Werthimer said. "What's the chance we can find a civilization that's just invented radio? It's kind of small in the 4 billion years of life on this planet." The scientist added that same optimism keeps him reasonably hopeful that extraterrestrial life would eventually be found, as Earthlings were "just getting in the game" of trying to locate life on other planets—but no one should hold their breath. "I think it's not going to be in my lifetime [that we find aliens], I think its going to be my students or my students students...it will take a couple of generations," Werthimer added. "It's hard to predict but my guess is that it's going to be a generation or two" before the discovery is made, he said. More From CNBC Top News and Analysis Latest News Video Personal Finance || 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. || 'Grumpy hold-outs' could sink Bitfinex recovery plan after Bitcoin theft: By Clare Baldwin HONG KONG (Reuters) - Crypto-currency exchange Bitfinex's plan to impose losses on all its trading clients for the theft by hackers of $72 million in Bitcoin rests on two flawed pillars, according to lawyers. The Hong Kong-based exchange said on August 2 that hackers had stolen 119,756 bitcoins from some clients' accounts, the second-biggest such hack in dollar terms, and later said it would spread the losses across all its customers, whether or not they had been hacked or even held bitcoin. It said customers would forfeit 36 percent of their holdings and be given "BFX tokens" instead that could be redeemed by the exchange or converted to shares in its parent company iFinex. Both elements of the plan are open to legal challenge, lawyers said. Imposing losses on customers who were not hacked appears to go against the company's terms of service, said Ryan Straus, a Fenwick & West lawyer who advises financial technology companies on regulation and co-authored the U.S. chapter of a book on bitcoin law. The terms state "bitcoins in your multi-signature wallets belong to and are owned by you", which Straus said implied a special banking relationship with clients that the Bitfinex plan would breach. "The depository ... is obligated to return, on demand, the same monetary objects deposited," he said, quoting a line from his book. The exchange's tokens could also be problematic, said Zach Zweihorn, a lawyer at DavisPolk who specialises in U.S. securities and trading laws. The way they are currently being described - redeemable by the exchange or convertible to shares in iFinex - places them somewhere between a bond and a security and makes it highly likely that issuing them and trading them would require licences in the U.S. that Bitfinex doesn't have. "If they are issuing an equity interest in their parent company, I don't really think the fact that it's evidenced through an electronic token ... really changes the analysis of whether it's a security," said Zweihorn. The U.S. Securities and Exchange Commission did not return a request for comment. Bitfinex did not respond to requests for comment on either issue. "ROBBED" Bitfinex's website acknowledges there are "protocol level details" still to be worked out for the tokens, and that U.S. residents can sell but not buy them for the time being. "I feel like I was robbed," a 33 year-old investor who had a five-figure U.S. dollar amount on the platform told Reuters. He said he took a 36 percent "haircut" across all assets, including U.S. dollar reserves, and as a U.S. trader he couldn't properly deal in the IOU token. "Basically they took customers' funds in order to try to stay afloat. Nowhere in their terms of service did it mention that this was a possibility," said the user, who works in the financial services industry. Bitfinex is nevertheless hoping that traders will be patient and accept that they won't get a better deal if legal challenges force it into liquidation. "This is the closest approximation to what would happen in a liquidation context," it told traders in a blog post a week ago, while the tokens gave them some hope of ultimately recovering their losses. Traders will be aware of the fate of Tokyo-based crypto-currency exchange Mt Gox, which suffered the biggest bitcoin theft of all time in 2014, and consequently went bankrupt. Traders have not recovered any losses, and court proceedings are still ongoing. "People are afraid to see their assets completely frozen if they sue Bitfinex too early," said 28-year-old Nathan Bourgeois, who is based in France and moderates a 2,000-member traders' messaging group called Whaleclub under the username dr Helmut. He said he thought people would agree to the deal if there was a chance of getting some of their money back. But Patrick Murck, a fellow at Harvard University's Berkman Klein Center for Internet & Society, said the Bitfinex plan was unlikely to survive a legal challenge. "It might be a pyrrhic victory. You might still end up with less money," said Murck, who is also co-founder of the Bitcoin Foundation and its former general counsel, but the "odds are fairly low" that nobody will test it in court. "It takes one grumpy hold-out ... to blow the whole thing up, he said. (Reporting by Clare Baldwin; Additional reporting by Hera Poon and Tris Pan; Editing by Will Waterman) View comments || Inbenta Raises $12 Million in Oversubscribed Series B Round to Expand Market Leadership in Enterprise Artificial Intelligence and Chatbot Solutions: SAN MATEO, CA --(Marketwired - September 14, 2016) - Inbenta ( https://www.inbenta.com ), the company behind enterprise-grade artificial intelligence solutions, today announced an oversubscribed Series B fundraising round totaling $12 million, led by Level Equity , with participation by Amasia and Series A investor Scale Capital through its Amérigo Chile fund. Level Equity founder and partner George McCulloch and Amasia chairman Ramanan Raghavendran joined Inbenta's board of directors. "Inbenta was founded in 2005 with a vision of leveraging artificial intelligence in an entirely new manner to transform how companies and customers interact," said Jordi Torras, founder and CEO, Inbenta. "That vision has been realized, and now Inbenta is in a period of dramatic and profitable growth including global expansion into 23 countries and support for over 20 languages. This Series B financing will help bring our technology to a much larger group of demanding customers who need enterprise-grade solutions, and to further drive the innovation that underpins our technology." The funding will be used to expand sales and marketing, and to further drive product development for Inbenta's industry-leading natural language processing (NLP) technology that powers search, chatbots, and self-service solutions for customer support and e-commerce. Inbenta's products are now used by over 200 customers around the world, including Ticketmaster, B&H, CA Technologies and 8x8 to enhance customer engagement, increase retention, and drive sales. Bitcoin marketplace Xapo has a chatbot that helps educate consumers about the Bitcoin industry and answer specific questions about a customer's account, purchases, or how to execute a trade. "Customers ask us a lot of questions about our product and the industry as a whole. They want a one-to-one experience that makes them feel like they're being heard," said Jessie Blocker, Lead Customer Support, Xapo. "Through Inbenta's Intelligent Chatbot platform, we've been able to provide this experience without having to break the bank by adding entire teams of live support agents." Story continues Inbenta leads the global market in terms of scale and reach. Based on the Meaning-Text Theory , which conceives natural language from lexicon to semantics, Inbenta's team of expert linguists has developed proprietary lexicons that make search and chatbot experiences possible for nearly all native language speakers across the globe. Built on a crowd-sourced machine learning program, the scope of Inbenta's AI improves with each new customer question that is asked. "Level Equity has met and evaluated dozens of companies in the artificial intelligence sector," said George McCulloch, founder and partner, Level Equity. "Inbenta is our first AI investment, which reflects our confidence in the company's technology, the giant opportunity in this sector, and the capabilities of the Inbenta team behind Jordi." "It's 'chatbot season' these days, with large companies and startups alike embracing the AI revolution," said Ramanan Raghavendran, Amasia chairman. "Inbenta has gone after, and solved, the hardest problem in the field -- industry leading natural language processing -- and implemented its AI solutions in high-volume, real-time enterprise settings." Inbenta is headquartered in San Mateo, California with offices in Spain, France, Brazil, and Chile. About Inbenta: Inbenta specializes in Natural Language Processing and semantic search to improve the customer experience. Support services such as dynamic FAQs , knowledge management and chatbots improve business website searches, customer self-service, and e-commerce conversions. With a team of expert linguists assigned to each client to help them understand the root cause of queries and make suggestions on updates to FAQs, Inbenta's products help businesses improve the overall online experience offered to customers. Inbenta's patented technology has greatly reduced incoming customer service emails and calls to call centers for industry-leading companies including Ticketmaster, CA Technologies and Schlage Locks. Additional information: Watch an introduction to Inbenta: https://youtu.be/J5V-f5kBS_Y Watch an introduction to Inbenta's Chatbot Development Platform: https://youtu.be/NhkZ81QnKdY Press Images: http://bit.ly/29qackh Follow Inbenta on Twitter: @inbenta About Level Equity Based in New York, NY, Level Equity is a growth equity firm focused on providing growth capital to rapidly growing software and internet companies. Principals at Level Equity have invested in over 50 technology businesses over the past 15 years. For more information about Level Equity, visit www.levelequity.com . About Amasia Amasia ( www.amasia.vc ), with offices in San Francisco and Singapore, is a venture capital firm that specializes in helping its portfolio companies "get global". Embedded Video Available: https://www.youtube.com/watch?v=J5V-f5kBS_Y&feature=youtu.be || Bitcoin is money, U.S. judge says in case tied to JPMorgan hack: By Jonathan Stempel
NEW YORK, Sept 19 (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.
Lawyers for Murgio did not immediately respond to requests for comment.
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) || How Bitcoin was brought down by its own potentialand the banks: Wouldn't it be so much easier if they just looked like this? The best that can be said about Bitcoin right now is that it still exists . Split by internal divisions while its most useful aspects are harvested by the very financial behemoths it once hoped to destroy, Bitcoin is fast becoming the tech worlds version of Waiting for Godot , wherein a hermetically sealed community squabbles and bickers over arcane points of code and law as their world slowly crumbles around them. In the last 12 months, attempts made to produce a road map for the cryptocurrencys future have come to naught, all while core developers abandon the project and opaque Chinese mining concerns wield outlandish power . What it feels like to be the last generation to remember life before the internet Welcome to todays Bitcoina phenomenon so internally focused that its advocates have barely noticed the battle has already been lost. Back at its inception, the conversation around the currency was driven by an almost unconscionable optimism. This wasnt simply a mechanism for the easy transfer of capital: This was a tool by which the entire international financial system could be made anew, with corrupt central banks, inflationary currencies, and immoral stockbrokers consigned to the dustbin of history. In a world still reeling from the chaos of the global financial crisis, Bitcoin seemed less like a currency and more like a way of future-proofing the global economy from ever having to deal with something so awful again. The Bitcoin boom of late 2013 brought greater mainstream attention to the cryptocurrency. Bitcoins value surged from $200 to $1,200 over the space of a few weeks, temporarily rendering it more valuable than gold . This was to be a short-lived state of affairs, however, as a string of scandals, hacks, exchange collapses, anddare I say itcommon sense brought the price of Bitcoin plummeting back to Earth. Cue three years of stagnation and false promise , as Bitcoin has struggled to prove its use for, well
anything, really. Even after all this time, Bitcoin is still an economy driven almost entirely by potentialby the dream that, one day soon, Bitcoin will become the lingua franca of the global economic order. Story continues Giving up alcohol opened my eyes to the infuriating truth about why women drink But Bitcoins spike and crash did have one unintended effect: It shone a bright light on a delicate, still-evolving financial ecosystem and shouted to the world, Theres gold in them thar hills! While the currency itself struggled to rediscover the magic of that first almighty explosion in 2013, the circling sharks of international finance spotted opportunity. Soon Bitcoin seemed primarily valuable for its blockchain, the distributed, unalterable public ledger that allows it to operate without trusted intermediaries. If Bitcoin is the power grid, blockchain is the electricity giving it life. But electricity doesnt need to be bound to a particular power gridyou can find ways to create your own. At least in the early days, the shift seemed largely semantic; a question of emphasis. But as time wore on, the discussion surrounding Bitcoin increasingly became focused on how banks, governments, and financial systems could create or use their own blockchains, of which Bitcoin would be, at best, an incidental part. The revolution heralded by Bitcoin now looks more likely to be transactional rather than transformational. Soon, Nasdaq, the worlds second-largest stock exchange, had declared 2015 to be the year of the blockchain . They even created their very own blockchain-enabled trading platform, Nasdaq Linq . The momentum has continued to build: A company called R3CEV is working with a consortium of 45 of the worlds most powerful banks and investment firms to create a modified blockchain that would allow companies to pick and choose what information they actually decentralize and what they keep held tight . Meanwhile, the Linux Foundation has joined forces with a whos-who of the tech and business worlds to create the Hyperledger Project , an open-source attempt to find new use cases for blockchain technology. Goldman Sachs has even patented its very own cryptocurrency, SETLcoin, to permit the instantaneous execution of trades on the stock market . One thing that links all of these projects? None of them use the word Bitcoin. For these financial behemoths, the appeal of the blockchain is obvious. Companies spend an inordinate amount of money on the intermediaries that facilitate the flow of capital between markets. Blockchain technology offers the possibility of those issues being delegated to a few lines of immutable computer code that, by their very nature, guarantee the legitimacy of the transaction. Vast swathes of complex transnational banking and investment apparatus could be rendered obsolete in a few comparatively minor technological adjustments. Bitcoin may be the platform on which this coming blockchain boom operates, or it may not. I imagine this will depend on some purely economic calculations being done by unfathomably vast and powerful financial institutions. In comparison to the almost $5 trillion traded on the international currency markets each and every day, Bitcoins $10 billion market cap is next best thing to a rounding error. It could vanish entirely and only a small cadre of true believers (and high-end drug dealers) would even mark its passing. What does seem certain is that the revolution heralded by Bitcoin now looks more likely to be transactional rather than transformational. Dont get me wrong: I think Bitcoin is a fundamentally useful thing. Its myriad advantages over fiat currency would seem to demand its widespread adoption. But at a basic level, Bitcoin is trying to disrupt money . As it turns out, this may be like trying to refashion water, or the second law of thermodynamics. And like so many technologically disrupted fields before it, the promise of great change has given way to the reality of great consolidation. Whereas we once dreamed of a flat, universal currency with an equal value for all players, irrespective of size, now we face the reality of an international financial system thats almost entirely the samejust with a new coat of paint. Technological innovations of all stripes have long wrestled with a tension between revolution and legitimacy, and Bitcoin has perhaps felt the tension more keenly than most. To put the dilemma another way: Is Bitcoin trying to replace the international economic order, or work within it? Does it want to destroy Goldman Sachs, or be bought by it? To many within the movement, this is still an active question. But as the shadows lengthen on Bitcoins moment in the sun, its increasingly hard to believe in its initial promise of changing money for good. You can follow Luke on Twitter at @lukeayresryan . We welcome your comments at [email protected] . Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: I got scammed: A tech workers awful story shows the gap between idealism and reality in Silicon Valley Chinese people want renewable energy more than anyone, but nobodys selling it to them || First Bitcoin CapitalCorp. FINRA approved Name Change is effective as of today: VANCOUVER, BC / ACCESSWIRE / August 15, 2016 / FIRST BITCOIN CAPITAL CORP. (OTC markets: BITCF), announced today that FINRA (Financial Industry Regulatory Authority) has approved its name change to FIRST BITCOIN CAPITAL CORP from Grand Pacaraima Gold Corp. The change will be reflected at the opening of the market today, August 15 th , 2016. For shareholders, the name change has no effect on the stock that is held. The name will automatically change in shareholders' brokerage accounts and the amount of shares will remain unchanged. All shareholders are asked to update their email addresses in order to receive Company electronic communications and further instructions. Kindly send an email to us via: [email protected] The company is excited to announce that it has developed for its own account and third parties certain crypto currencies such as TeslaCoil Coin (trading symbol TESLA), President Clinton coin (trading symbol HILL), President Trump coin (trading symbol PRES) , President Johnson (trading symbol GARY). These last three digital crypto coins -we believe to be history's first commemorative election coins trading as crypto currencies and public interest in these commemorative coins may increase as the election process comes to a close with the winning candidate's coin showing the most interest. These currencies have been launched using the OMNI protocol, developed by OMNI FOUNDATION and ride on the rail of the Bitcoin blockchain. We also believe that we are history's first publicly traded company to develop a blockchain for our shares to dually trade both in a traditional market (OTC Markets) and on crypto currency exchanges, such as company's own cryptocurrency exchange COINQX. Our crypto currency symbol is: BIT About the company: First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.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 type of digital assets. "Being first publicly-traded cryptocurrency and blockchain-centered company we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies." At this time Company owns and operates the following digital assets. Story continues www.BITCoinCapitalcorp.com company website. www.CoinQX.com Company operated Cryptocurrency Exchange, registered with FINCEN. www.iCoiNEWS.com real time cryptocurrency and bitcoin news site www.BITminer.cc company provides mining pool management services. www.2016coin.org online daily election coverage and home page for $PRES, $HILL and $GARY coins FORWARD-LOOKING STATEMENTS This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com. SOURCE: First Bitcoin Capital Corp. || Hacking group claims to offer cyber-weapons in online auction: By Joseph Menn
(Reuters) - Hackers going by the name Shadow Brokers said on Monday they will auction stolen surveillance tools they say were used by a cyber group linked to the U.S. National Security Agency.
To arouse interest in the auction, the hackers released samples of programs they said could break into popular firewall software made by companies including Cisco Systems Inc, Juniper Networks Inc and Fortinet Inc.
The companies did not respond to request for comment, nor did the NSA.
Writing in imperfect English, the Shadow Brokers promised in postings on a Tumblr blog that the auctioned material would contain “cyber weapons” developed by the Equation Group, a hacking group that cyber security experts widely believe to be an arm of the NSA. [http://reut.rs/2aVA7LD]
The Shadow Brokers said the programs they will auction will be “better than Stuxnet,” a malicious computer worm widely attributed to the United States and Israel that sabotaged Iran’s nuclear program.
Reuters could not contact the Shadow Brokers or verify their assertions. Some experts who looked at the samples posted on Tumblr said they included programs that had previously been described and therefore were unlikely to cause major damage.
“The data [released so far] appears to be relatively old; some of the programs have already been known for years,” said researcher Claudio Guarnieri, and are unlikely “to cause any significant operational damage.”
Still, they appeared to be genuine tools that might work if flaws have not been addressed. After examining the code released Monday, Matt Suiche, founder of UAE-based security startup Comae Technologies, concluded they looked like "could be used."
Other security experts warned the posting could prove to be a hoax. The group said interested parties had to send funds in advance of winning the auction via Bitcoin currency and would not get their money back if they lost.
The auction will end at an unspecified time, Shadow Brokers said, encouraging bidders to "keep bidding until we announce winner."
(Editing by Cynthia Osterman) || Citigroup hits another Costco hurdle: (BII)This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, pleaseclick here.
Citigroup is still experiencing hurdles after purchasing the roughly 11 million cardholder Costco portfolio from American Express earlier this summer.
Last week, the firm mistakenly emailed a “small portion” of Costco members telling them that their membership had ended and their cards would be canceled, according toBusiness Insider. Citigroup has since notified the affected consumers that the messageoccurredas a result of a “systematic error.”
The error marks another in a series of problems that Citigroup has faced managing the transition.
In the week following the transition, the company fielded multiple complaints from consumers who hadn’t received new cards or were struggling to activate them and couldn’t get the necessary support. Despite that, the portfolio has been performing well, giving Citi$5.7 billionin purchases made on Citi Costco cards in its first three-and-a-half weeks.
But ongoing errors could begin to turn off consumers and increase cardholder attrition, particularly since Costco now accepts any Visa card, not just the Citigroup-branded Costco card. That would limit the potential financial impact of the portfolio, which could give Citi over $80 billion in annual billed business and help it further establish separation as the third largest US card issuer this year.
Citigroup is just one piece of the larger payments ecosystem, which contains card issuers, processors, merchants, gateways, and more.
Evan Bakker and John Heggestuen, analysts atBI Intelligence, Business Insider's premium research service, have compileda detailed report on the payments ecosystemthat drills into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as revealing which types of companies are in the best and worst position to capitalize on the latest industry trends.
Here are some key takeaways from the report:
• 2016 will be a watershed year for the payments industry. Payments companies are improving security, expanding their mobile offerings, and building commerce capabilities that will give consumers a more compelling reason to make purchases using digital devices.
• Payments is an extremely complex industry. To understand the next big digital opportunity lies, it's critical to understand how the traditional credit- and debit-processing chain works and what roles acquirers, processors, issuing banks, card networks, independent sales organizations, gateways, and software and hardware providers play.
• Alternative technologies could disrupt the processing ecosystem. Devices ranging from refrigerators to smartwatches now feature payment capabilities, which will spur changes in consumer payment behaviors. Likewise, blockchain technology, the protocol that underlies Bitcoin, could one day change how consumer card payments are verified.
In full, the report:
• Uncovers the key themes and trends affecting the payments industry in 2016 and beyond.
• Gives a detailed description of the stakeholders involved in a payment transaction, along with hardware and software providers.
• Offers diagrams and infographics explaining how card transactions are processed and which players are involved in each step.
• Provides charts on our latest forecasts, key company growth, survey results, and more.
• Analyzes the alternative technologies, including blockchain, which could further disrupt the ecosystem.
To get your copy of this invaluable guide, choose one of these options:
1. Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >>START A MEMBERSHIP
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The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the payments ecosystem.
More From Business Insider
• THE PAYMENTS INDUSTRY EXPLAINED: The Trends Creating New Winners And Losers In The Card-Processing Ecosystem
• THE CONNECTED DEVICE PAYMENTS REPORT: Market opportunities, top stakeholders, and new use cases for the next frontier in payments
• The top 5 fintech predictions for 2016
[Random Sample of Social Media Buzz (last 60 days)]
Bitfury Research Seeks to Shine Light on Bitcoin Mixing Methods: A new Bitfury white paper.. #Bitcoin #BTC #News http://dld.bz/eQuQw || #BTA Price: Bittrex 0.00001173 BTC YoBit 0.00001377 BTC Bleutrade 0.00001290 BTC #BTAprice 2016-08-13 00:00 pic.twitter.com/IW4qusswLo || New post: Digital Asset to Open Source Smart Contract Language http://www.cryptocoins4you.net/2016/08/23/digital-asset-to-open-source-smart-contract-language/ … #Bitcoin #free #ltc || BTC: $573.49, S: $19.80, G: $1351.00 | Act: 23,805 Open: 4014 BTC: 53,467.5 | Total: $30,675,465 http://goo.gl/U94Tki #bitcoin || 1 #bitcoin 1797.81 TL, 582.872 $, 536.920 €, GBP, 37370.00 RUR, 61467 ¥, CN || #TrinityCoin #TTY $0.000006 (0.11%) 0.00000001 BTC (-0.00%) || #ChainCoin #CHC $0.000079 (-0.05%) 0.00000013 BTC (0.00%) || Re: Spending my Bitcoin on GOLD / SILVER?... Do I have to pay tax?: Quote from: jukka on July 27, 20... http://cur.lv/11mnom #bitcoin || Re: Diff thread Sept 12 to ? Prize = $50.00 Picks are closed! http://cur.lv/12fz82 #bitcoin #crypto || #Bitcoin last trade
@bitfinex $625.23
@btcecom $619.00
Set #crypto #price #alerts at http://AlertCo.in
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Trend: up || Prices: 612.51, 613.02, 617.12, 619.11, 616.75, 618.99, 641.07, 636.19, 636.79, 640.38
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-10-07]
BTC Price: 53805.98, BTC RSI: 65.85
Gold Price: 1757.90, Gold RSI: 46.31
Oil Price: 78.30, Oil RSI: 68.40
[Random Sample of News (last 60 days)]
Marathon Digital Holdings Sets October 2021 Conference Schedule: LAS VEGAS, Oct. 06, 2021 (GLOBE NEWSWIRE) --Marathon Digital Holdings, Inc.(NASDAQ:MARA) ("Marathon" or "Company"), one of the largest enterprise Bitcoin self-mining companies in North America, is scheduled to participate at the following conferences in October 2021:
Token 2049Participating Thursday and Friday, October 7-8, 2021London, UK
Texas Blockchain SummitParticipating Friday, October 8, 2021Austin, TX
AIM Summit DubaiPanel Discussion Tuesday, October 12, 2021 at 3:55 a.m. Eastern timeDubai, UAELink
Digital Assets WeekPanel Discussion Thursday, October 21, 2021 at 10:10 a.m. Eastern timeLondon, UK / Virtual
For additional information or to schedule a one-on-one meeting with Marathon’s management, please [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, 2020. 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 October 2021. See "Safe Harbor" 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 mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets.
Marathon Digital Holdings Company Contact:Charlie SchumacherTelephone: 800-804-1690Email:[email protected] || Most Executives See Digital Assets as Strong Fiat Alternative in Next 5-10 Years: Deloitte: More than three quarters – 76% – of executives globally think digital assets will be a “strong alternative to or replacement for” fiat in the next five to 10 years, Deloitte’s 2021 Global Blockchain Surveyfound.
• Even more, 78% of respondents said that digital assets will be important to their industry in the coming 24 months.
• The survey of 1,280 senior executives and practitioners was conducted March 24 through April 10. One-third of respondents were based in the U.S., with the rest in Brazil, China, Germany, Hong Kong, Japan, Singapore, South Africa, the UAE and the U.K.
• The most commonly identified barriers to adoption were cybersecurity, regulation and financial infrastructure, according to the survey. Data security and privacy regulation must change to enable blockchain adoption, said 68% of survey participants.
• Respondents that had already deployed blockchain and/or digital assets in their core business, or “pioneers” as Deloitte labeled them, more commonly identified regulation, privacy, and cybersecurity as barriers to acceptance.
• Among those, 70% said that digital assets’ greatest impact will be access to funding sources. The next most common answer was “compliance and transparency.”
• Protection against data collection from big tech and other private firms was the most commonly identified potential benefit of central bank digital currencies among respondents.
• US Reps. Emmer, Soto Reintroduce Legislation to Clarify ‘Money Transmitter’ Designation
• Former Apple CEO Gil Amelio Joins Cirus Blockchain Project as Adviser
• What Blockchain Oracles Do Not See
• Market Wrap: Bitcoin Slips as Infrastructure Bill With Crypto Tax Provision Heads to House || XcelPlus International exhibits at Mining Disrupt 2021, solicits partnerships with crypto miners: RENO, NV, Aug. 13, 2021 (GLOBE NEWSWIRE) -- XcelPlus International Inc. (OTC PINK: XLPID) announced today that it intends to actively pursue partnerships with crypto-mining enterprises following its participation in the Mining Disrupt 2021 show in Miami.
The Mining Disrupt 2021 event took place from July 20thto 22ndin Miami, Florida. It was predominantly attended by representatives from companies in the tech, energy, and cryptocurrency mining industries.
XcelPlus International Chief Executive Officer Charles Robinson expressed his excitement with the outcome of the show.
“We connected with the owners and operators of many crypto-mining enterprises while we were in attendance at Mining Disrupt 2021,” said Robinson. “We are actively negotiating with several of these companies over the prospects of using our plasma gasifiers to potentially fuel their crypto-mining projects.”
Crypto mining has come under fire recently due to the energy demands and excessive burning of fossil fuels, which is often perceived by the general public to be wasteful.
“By using our plasma gasifiers to support their crypto mining expeditions, these mining companies will be benefiting entire communities by cleaning up landfills and clearing away unsightly waste materials,” explained Robinson. “Through these processes, they will be seen as contributing to a societal good even as they pursue wealth through their crypto mining endeavors.”
In addition to partnerships with crypto miners, XcelPlus is also actively soliciting partnerships with mining rig suppliers and exploring the viability of investing in a Bitcoin mining operation of its own.
“We are also working to resolve listing issues and bring our company into 15c2-11 compliance to assist investors with their financial decisions and to make our company more transparent,” stated Robinson.
Forward Looking Statements
Certain statements in this communication constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements of future expectations and events, future strategic objectives, business prospects and anticipated results. Forward looking statements can often be identified by words and phrases such as “intends,” “pursue,” “will,” “can,” “moving,” “working to resolve,” “expect,” “bring,” and similar expressions and include, but are not limited to, statements regarding or relating to the company’s business plans, pursuit of partnerships with crypto mining enterprises mining rig suppliers and others, participation in the crypto-mining industry, the likelihood of our gasifiers being used in crypto-mining projects, the feasibility of using our plasma gasifiers to support crypto mining expeditions, the results of any negotiations, acceptance of and demand for our products and services, resolving listing issues, the ability of the company to comply with FINRA rules and regulations including compliance with rule 15c2-11, and the ultimate success in the marketplace of our products, services and technologies. Forward-looking statements are not guarantees of future results and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially and adversely from those expressed or implied in such statements. These statements are based on management’s current views and assumptions, speak only as of the date hereof and are subject to change. We undertake no obligation to revise or update any forward-looking statements for any reason, except as required by law.
Contact: Ian DouglassChief Communications [email protected] || Irony: Envisioned To Be Fully Decentralized, Bitcoin Today Is Highly Centralized: If a cartel of Bitcoinminerswanted to, they could render the whole blockchain useless
Q2 2021 hedge fund letters, conferences and more
More than a decade ago whenSatoshi Nakamotowrote the originalBitcoin whitepaper, he envisioned a “peer-to-peer” electronic cash system that removes the possibility of a single point of failure, censorship, or a centralized authority taking over the network. It was supposed to be fully decentralized. Fast forward to 2021 and look beyond the hype - you’ll be surprised to see that the Bitcoin network has become uncomfortably centralized.
As Elon Muskpointed outin response to a Twitter thread by crypto bull Peter McCormack, Bitcoin is highly centralized with a small number of miners controlling a majority of the hashing power. TheBitcoinhash rateplunged 35%when a single coal mine in Xinjiang flooded in April this year. It was a stark reminder of how centralized the Bitcoin network has become.
According to theCambridge Bitcoin Electricity Consumption Index, China’s share of the global Bitcoin energy consumption has declined from 75% in September 2019 to 46% in April 2021. Miners have slowly been moving away from China, but it remains a dominant player in Bitcoin mining.
In their attempt to improve scalability and security, the world’s leading blockchains have turned decentralization into the sacrificial goat.
“Decentralization has lost its way. We’ve broken the dream by centralizing. We outsourced critical infrastructure because either we couldn't be bothered to run it ourselves or the task was simply too onerous,” says Minima founder Paddy Cerri.
Minima, an ultra-lean base layer blockchain protocol, aims to leverage billions of smartphones and IoT devices to achieve “true” decentralization without compromising on security and scalability. Its protocol easily fits on a mobile device, enabling every user to run a full constructing and validating node.
Since millions of users from around the world would be involved in mining the blocks and securing the network, it will be censorship-resistant. To take control of such a network, an individual or institution has to get hundreds of millions of users from across the globe on their side, which is practically impossible.
Proof-of-Work (PoW) blockchains such as Bitcoin andEthereumrely on a relatively small number of nodes to accept valid transactions and maintain the security of the network. But the nodes only validate transactions. They don’t mine new blocks. That’s the job left to miners.
Miners are incentivized to find new blocks for the entire ecosystem. More often than not, where there are strong incentives, power gets concentrated in the hands of the few. In the case of Bitcoin, the hashing power is centered in the hands of the Chinese miners. If forced or incentivized by Beijing, these miners could take over the network.
Decentralization reduces the level of trust the network participants place in one another. It deters each participant’s ability to exert control or degrade the network’s functionality.
Even the Proof-of-Stake (PoS) blockchains have only a handful of whales staking most of the tokens, effectively controlling the underlying mechanisms. In short, there are no fully decentralized blockchains at this point.
There need to be a lot of miners but a lot less incentives for mining blocks to achieve true decentralization. But why would people allocate their computing resources to mining if the monetary incentives aren’t attractive enough? Paddy Cerri argues that they would because they will be using their own devices to mine blocks for their own transactions. It wasn’t possible until a few years ago, but it is today with billions of active smartphones and theInternet of Things(IoT) devices.
Is that an attractive enough proposition to get users onboard a fully decentralized blockchain? Probably not, at least not in the initial phase. Minima is running anincentives programfor a limited time period to bring more people into the network. After that, it believes the protocol’s ease of adoption will accelerate the node count.
Centralized actors restrict the security, speed, and scalability of blockchain technology. Ethereum is in the process of switching to the Proof-of-Stake (PoS) consensus mechanism with ETH 2.0, which would increase its capacity from just 15-30 transactions per second (TPS) today to around 100,000 TPS.
ETH 2.0uses the sharding mechanism to scale while maintaining security. Sharding involves dividing up the work by splintering the blockchain into different pieces, each shard validating a specific kind of action. The Ethereum 2.0 network will be more decentralized than the current Ethereum because staking as a smaller barrier to entry than mining.
Cardano, which is getting a lot of attention sincelaunchingsmart contracts functionality earlier this month, has become the most decentralized PoS network. According to data fromStaking Rewards, almost 70% of the total Cardano (ADA) tokens in circulation have been staked to support the network and validate transactions.
In PoW blockchains such as Bitcoin, the base layer has an upper limit on the number of transactions it can handle per second. Bitcoin is unbearably slow (just 4.6 TPS) at processing transactions. Lightning Network and other Layer-2 scaling solutions have emerged to reduce the workload on Bitcoin and help it scale.
Decentralization along with security and scalability are the three pillars of ablockchain. Bitcoin and other blockchains that rely heavily on a small number of miners and stakers are highly vulnerable. That’s the bitter reality. It’s not too late for the popular blockchains to follow the path Minima has taken. By making every user a miner, the project has managed to achieve decentralization without sacrificing security and scalability. || PayPal brings cryptocurrency trading to the UK: PayPal is bringing the ability to buy, hold and sell cryptocurrencies across to the other side of the pond, the better part of a year after it launched in the US. In a statement , the company said that UK-based users would be able to buy, hold and sell Bitcoin, Ethereum, Litecoin and Bitcoin Cash via their PayPal account. In addition, the PayPal app will enable users to view real-time cryptocurrency prices and access information about the opportunities and risks that buying such currencies entail. Buying and selling cryptocurrencies was introduced to all users of the app in the US back in November 2020. Since then, users have been able to check out with crypto , and the feature has also been rolled out to Venmo . The company adds that users can buy as little as £1 of cryptocurrency, and while there are no fees to hold the currency, users will have to pay transaction and currency conversion fees. It’s not clear, yet, if the total limit on how much you can buy is capped at the equivalent of $100,000 (£73,000), as it currently is in the US. || Bitcoin price holds near $50,000 as hash rate improves: Bitcoin (BTC-USD) has managed to hold steady near the symbolic $50,000 mark, defying fears that the world's biggest cryptocurrency could rapidly retreat after reaching the price level.
Bitcoinhit a 3-month high above $50,000on Monday and was still just below that level by Tuesday morning. The cryptocurrency was down 0.9% to $49,744 by 9am in London.
Analysts had feared bitcoin could fall closer to support levels around $47,000 after breaching the $50,000 mark.
Experts said the price resilience was being supported by improvements in the underlying network of bitcoin.
Read more:Bitcoin and ethereum crash as China promises 'severe crackdown'
"The hash rate has displayed a significant turnaround from its July lows," said Naeem Aslam, chief market analyst at Avatrade. "Hash rate is basically an indicator of how much computational power is being pumped in to improve the Bitcoin network."
Bitcoin operates through a decentralised network of computers. People are incentivised to contribute computing power by code that rewards the work with newly-minted bitcoins.
The levels of computing power within the bitcoin network is measured through the so-called "hash rate." Computer operators who do the work are known as "miners," due to the fact their work is rewarded with tokens. The lower the hash rate, the slower the network and the more it is vulnerable to attack.
Chinalaunched a crackdown on cryptocurrency companies that included miners in late May. China had long been the centre of the bitcoin mining ecosystem and Bitcoin's hash rate fell to a two-year low in July in response to the crackdown.
Read more:Bitcoin miner Argo Blockchain's profits surge
Since then, miners have moved operations away from China, whilethose with operations outside of the country have scaled up to meet demand. The hash rate has risen almost 50% since the lows seen in July but remains around 30% below the all-time high reached in May, according to estimates from industry data provider Blockchain.
"An improvement in this indicator shows that the sector is rapidly adjusting after clampdowns seen earlier in China," said Aslam.
Elsewhere, the broader cryptocurrency market was little changed on Tuesday. Data from CoinMarketCap.com showed the market value of the crypto ecosystem had risen by just 0.3% over the last 24 hours — an unusually small move for the usually volatile asset class. Crypto's market cap stood at $2.16tn (£1.58tn) on Tuesday morning. || Global stocks rally after tech sell-off, dollar gains: By Herbert Lash and Danilo Masoni NEW YORK/MILAN (Reuters) - Global equity markets rallied on Tuesday as U.S. and European tech stocks rebounded and the dollar strengthened ahead of U.S. payrolls data on Friday that could reveal the Federal Reserve's next move on tapering its support to the economy. Most major U.S. and European stock indices rose more than 1%, while yields on the 10-year U.S. Treasury note, a touchstone for investor sentiment, edged above 1.5%. Another jump in crude oil futures fueled inflation fears. Investors are focused on Friday, when the U.S. unemployment report for September may determine when the Fed proceeds with plans to begin tapering $120 billion a month of bond purchases. Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia, said the day's rally in stocks was nothing more than a rebound after a weak stretch. The S&P 500 slid less than 4% peak-to-trough from late September, and is up almost 16% year to date. Friday's report "will be telling about the direction of both interest rates and the economy, and by definition the equity markets as well," Tuz said. Non-farm payrolls data is expected to show continued improvement in the labor market, with a forecast for 488,000 jobs to have been added last month, a Reuters poll showed. MSCI's all-country world index, a U.S.-centric gauge of stock performance in 50 countries, closed up 0.69% after trading above 1% earlier in the session. European stocks closed up 1.17% as rising bank shares and encouraging results from chipmaker Infineon calmed nerves following a tech-fueled sell-off on Wall Street on Monday. The European tech sector jumped 2.2%, breaking a seven-session losing streak in which it fell 11.7%. European bank stocks rose 3.5% to more than a 1-1/2 year high. On Wall Street, the Dow Jones Industrial Average rose 0.92%, the S&P 500 gained 1.05% and the Nasdaq Composite added 1.25%. Inflation expectations jumped with the U.S. breakeven rate on five-year Treasury Inflation-Protected Securities (TIPS) rising to 2.61%, the highest level since late July. Story continues The 10-year Treasury note rose 5.5 basis points to yield 1.5362%. Germany's 10-year bund yield, the benchmark for the region, rose 3.5 bps to -0.183%, or 30 basis points higher than it was two months ago. In Europe, a market-based gauge of long-term euro zone inflation expectations surged to a new six-year high as rising crude and record gas prices fanned inflation fears. The five-year euro forward swap hit 1.8369%, the highest since July 2015. It was 1.26% at the start of 2021. Short-dated yields have jumped as the U.S. Treasury eyes Oct. 18 as when it could run out of cash. Democrats planned a Wednesday vote in the Senate to suspend the U.S. debt ceiling, setting up yet another confrontation with Republicans that risks an economically crippling federal credit default. The dollar index, which tracks the greenback versus a basket of six currencies, rose 0.16% to 93.997. The euro slid 0.24% at $1.1593, while the Japanese yen traded up 0.58% at $111.5100. Brent crude futures rose to a three-year high while U.S. benchmark oil hit its highest since 2014 after the Organization of the Petroleum Exporting Countries and allies stuck to their planned output increase rather than pumping even more crude. Brent crude rose $1.30 to settle at $82.56 a barrel. U.S. crude settled up $1.31 to $78.93 a barrel. Gold prices fell as firmer U.S. Treasury yields and a stronger dollar dented the safe-haven metal's appeal. U.S. gold futures settled down 0.4% at $1,760.90 an ounce. Market focus in Asia was on whether embattled property developer China Evergrande would offer any respite to investors looking for signs of asset disposals. Trading in shares in the world's largest indebted developer was halted on Monday but other Chinese property developers grappled with ratings downgrades on worries about their ability to repay debt. Bitcoin rose above the $50,000 mark for the first time in four weeks, adding to a series of gains since the start of October. It was last up 4.5% on the day. (Reporting by Herbert Lash, additional reporting by Danilo Masoni in Milan and Anshuman Daga in Singapore; Editing by Will Dunham, Emelia Sithole-Matarise and Lisa Shumaker) || GBP/JPY Price Forecast British Pound Sitting at Fair Value Against Yen: The British pound has fallen slightly during the trading session on Monday, as we continue to dance around the ¥152.50 level, which is roughly halfway between the support level at ¥150 and the massive resistance barrier at the ¥155 level. Ultimately, this is a market that will continue to see a lot of back and forth mainly due to the fact that the risk on/risk off attitude of the markets and general. After all, the Japanese yen is considered to be a major safety currency, while the British pound represents the idea of economic expansion. GBP/JPY Video 10.08.21 Looking at this chart, I do not see it being able to break out of this 500 point range anytime soon, but it is worth noting that we are at least trying to turn things around by forming a higher low recently, and if we can break above the shooting star from the previous week, we could have the possibility of a move back towards the ¥155 level. The ¥155 level has been massive resistance multiple times in the past and it certainly will be difficult to break out of. If we were to break above the ¥155 level, then I would more likely than not look at this as a buy-and-hold type of situation. On the other hand, if we were to somehow break down below the ¥155 level, it could really send this market much lower. In the meantime, I think we just simply going to bounce around in this general vicinity. 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: USD/CAD Daily Forecast Canadian Dollar Remains Under Pressure At The Start Of The Week Natural Gas Price Forecast Natural Gas Markets Pull Back to Kickoff Week S&P 500 Price Forecast Stock Markets Choppy to Kickoff Week GBP/USD Price Forecast British Pound Continues to Test Support Underneath Bitcoin Price Resilient in the Face of Political Firestorm USD/JPY Price Forecast US Dollar Pulls Back Towards Same Big Figure || The Crypto Daily – Movers and Shakers – September 1st, 2021: Bitcoin, BTC to USD, rose by 0.33% on Tuesday. Partially reversing a 3.68% slide from Monday, Bitcoin ended the month up by 13.80% to $47,157.0.
A mixed start to the day saw Bitcoin fall to an early morning intraday low $46,725.0 before making a move.
Steering clear of the first major support level at $46,297, Bitcoin rallied to an early afternoon intraday high $48,244.0.
Falling short of the first major resistance level at $48,319, Bitcoin fell back to sub-$47,000 before finding late support.
The near-term bullish trend remained intact, supported by the latest return to $50,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.
Across the rest of the majors, it was a mixed day on Tuesday
Crypto.com Coinfell by 0.89% to buck the trend on the day.
It was a bullish day for the rest of the majors, however.
Polkadot surged by 20.10% to lead the way once more.
Chainlink(+6.91%),Ethereum(+6.23%), andRipple’s XRP(+7.82%) also found strong support.
Binance Coin(+0.91%).Bitcoin Cash SV(+1.11%),Cardano’s ADA(+1.29%), andLitecoin(+2.50%) trailed the front runners, however.
For the crypto majors, it was a particularly bullish August.
Cardano’s ADA surged by 109.76% to lead the way.
Binance Coin (+39.52%), Ethereum (+35.38%), Polkadot (+64.52%), and Ripple’s XRP (+58.96%) also found strong support.
Bitcoin Cash SV (+14.47%), Chainlink (+17.76%), Crypto.com Coin (+20.36%), and Litecoin (+18.79%) trailed the front runners, however.
Early in the week, the crypto total market fell to a Monday low $1,996bn before rising to a Tuesday high $2,154bn. At the time of writing, the total market cap stood at $2,086bn.
Bitcoin’s dominance rose to a Monday high 44.14% before falling to a Tuesday low 42.12%. At the time of writing, Bitcoin’s dominance stood at 42.49%.
At the time of writing, Bitcoin was down by 0.06% to $47,129.0. A mixed start to the day saw Bitcoin fall to an early morning low $46,891.0 before rising to a high $47,359.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Cardano’s ADA (-0.41%), Litecoin (-0.26%), and Ripple’s XRP (-0.24%) joined Bitcoin in the red.
It was a bullish start for the rest of the majors, however.
At the time of writing, Polkadot was up by 1.82% to lead the way.
Bitcoin would need to move through the $47,375 pivot to bring the first major resistance level at $48,026 into play.
Support from the broader market would be needed for Bitcoin to break back through to $48,000 levels.
Barring a broad-based crypto rally, the first major resistance level and Tuesday’s high $48,244.0 would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test resistance at $50,000 before any pullback. The second major resistance level sits at $48,894.
Failure to move through the $47,375 pivot would bring the first major support level at $46,507 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$45,000 levels. The second major support level at $45,856 should limit the downside.
Thisarticlewas originally posted on FX Empire
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• E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Trade Through 15517.75 Confirms Reversal Top
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• Crude Oil Price Update – Rangebound; Strengthens Over $69.02, Weakens Under $67.63 || Why Bitcoin-Related And Ethereum-Related Stocks Are Moving Today: Shares of crypto-related stocks, includingMarathon Digital Holdings Inc(NASDAQ:MARA),Riot Blockchain Inc(NASDAQ:RIOT) andBit Digital, Inc.(NASDAQ:BTBT) are trading higher amid an increase in the price ofBitcoin(CRYPTO: BTC) andEthereum(CRYPTO: ETH).
Bitcoin is trading higher by 1.2% at around $47,821 Friday morning.
Ethereum is trading higher by 2.75% at around $3,220 Friday morning.
Marathon Digital focuses on mining digital assets. It owns crypto-currency mining machines and a data center to mine digital assets. The company operates in the digital currency blockchain segment and its cryptocurrency machines are located in Canada.
Marathon Digital is trading higher by 7.7% at $39.02.
Riot Blockchain is focused on building, supporting and operating blockchain technologies. The company's portfolio consists of Verady, Tesspay, Coinsquare and others.
Riot Blockchain is trading higher by 4.7% at $38.
Bit Digital, Inc. engages in the bitcoin mining business. The company was formerly known as Golden Bull Limited and changed its name to Bit Digital, Inc. in September 2020.
Bit Digital is trading higher by 7% at $11.26.
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© 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: up || Prices: 53967.85, 54968.22, 54771.58, 57484.79, 56041.06, 57401.10, 57321.52, 61593.95, 60892.18, 61553.62
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-01-23]
BTC Price: 8406.52, BTC RSI: 54.70
Gold Price: 1564.60, Gold RSI: 67.78
Oil Price: 55.59, Oil RSI: 30.75
[Random Sample of News (last 60 days)]
How easy is it for hackers to steal your cryptocurrency?: The cryptocurrency industry is unfortunately rife with scams and hackers looking to steal your hard-earned crypto coins. A variety of tactics are used by hackers and their methods are improving every day. The most common strategies adopted by scammers include financial pyramid schemes, exchanges targeting exit scams, fake web and hardware wallets, and even Ponzi schemes. In order to better understand how hackers successfully steal your cryptocurrency , I will take an in-depth look at each method using real-life examples. Hopefully, by understanding how hackers operate and what red flags to look out for, youll be better prepared to fend them off and successfully protect your coins. In this article, Ill discuss Ponzi schemes, financial pyramid schemes, and fake web and hardware wallets. Ponzi schemes According to Investopedia , Ponzi schemes (or scams) are based on fraudulent investment management services. Investors typically contribute money to the portfolio manager who promises them a high return. Afterwards, when those investors want their money back, they are paid out with the incoming funds contributed by later investors. The person organising this type of fraud is in charge of controlling the entire operation they merely transfer funds from one client to another and forgo any real investment activities. One of the biggest Ponzi schemes in crypto one that currently keeps adding selling pressure to Bitcoin is the Plus Token scam. Plus Token was a cryptocurrency Ponzi scheme disguised as a high-yield investment program. Platform administrators closed down the operation in June 2019 after withdrawing over $3 billion in stolen cryptocurrencies such as Bitcoin, Ethereum, and EOS. A report by Chainalysis, a US-based blockchain analysis company, claims Plus Token was one of the largest Ponzi schemes ever and was potentially responsible for the 2019 downturn in BTC price. Story continues The report claims that there are still at least 20,000 BTC and 790,000 ETH missing which could be dumped on the market at any time. Financial pyramid schemes A financial pyramid scheme is structured so that the initial schemer must recruit other investors who will continue to recruit other investors, and those investors will then continue to recruit additional investors, and so on. There will be an incentive that is presented as an investment opportunity, such as the right to sell a particular product or high earnings per recruit. Each investor pays the person who recruited them and so on. The recipient must share the proceeds with those in the higher levels of the pyramid structure. One key difference is that pyramid schemes are harder to prove than Ponzi schemes. They are also better protected because the legal teams behind corporations are much more powerful than those protecting an individual. Just recently in Brazil , a group called Bitcoin Banco (Bitcoin Bank) is alleged to have conducted a million dollar exit scam . The group was in charge of a great deal of exchanges in the country and promised set returns to investors who traded the exchange currency, Negociecoins. However, according to analysts, This profit did not exist because the company needs investor money to produce order book orders. Fake wallets One of the most common mistakes by junior cryptocurrency users is to fall prey to fake cryptocurrency web wallets and hardware wallets. Since some users trust Google and other search engines to look up websites, its quite easy to click on the wrong website. To avoid making this mistake, always check the website youre accessing is the real one. There are loads of fake URLs and GitHub repositories with the sole purpose of stealing your precious cryptocurrency. A simple solution is to save websites you visit often, like web wallets and exchanges, into your browser favourites list. That way, it will be near impossible to fall prey to fake URL hacks. Conclusion Before making any decisions about trading your cryptocurrency or investing in a new coin, make sure you complete thorough research. Keep on top of the latest news and trends as reports of scams begin to increase. Most of all, dont forget to apply everyday digital best practices to your activity. Cryptocurrency scams and vulnerabilities will continue to evolve as the industry grows and its your responsibility to stay protected. Safe trades! The post How easy is it for hackers to steal your cryptocurrency? appeared first on Coin Rivet . || Georgia Governor Appoints Bakkt CEO Loeffler as New US Senator: Georgia Governor Brian Kemp officially appointed Bakkt CEO Kelly Loeffler to the U.S. Senate on Wednesday, where she will fill current Senator Johnny Isakson’s seat.
The Atlanta Journal-Constitution first reported that Kemp was considering Loeffleron Friday, with theWall Street Journal,Washington Post,APandother outletsconfirming its reporting earlier this week. Loeffler will take office on Jan. 1, 2020. Though Isakson’s term ends in January 2023, Loeffler will have to run for election next year if she intends to serve past January 2021.
Kemp appointed Loeffler, a Republican, against the reported wishes of President Donald Trump, who apparently expressed a preference for Rep. Doug Collins (R-Ga.). However, Loefflerhas the backingof Senate Majority Leader Mitch McConnell (R-Ky.), according to Politico.
Related:Bakkt CEO Will Be Asked to Fill Georgia Senate Seat in 2020: Report
While Loeffler said she was “pro-Trump,” and in favor of his border wall, the Second Amendment and against abortion and socialism, she did not address crypto or bitcoin in her introductory remarks.
According to NPR, Kemp openedan online application processfor the position after Isakson announced he would retire on Dec. 31, 2019 for health reasons. Loefflerapplied for the positionon the last day of the deadline.
(“While unorthodox, we opened the process to everyone,” Kemp said of the application.)
Loeffler has been the chief executive of Bakkt, the Intercontinental Exchange’s bitcoin-focused subsidiary, since the entity’s announcementin August 2018. Under her tenure, the company rolled out its physically-settled bitcoin futures contracts earlier this year.
Related:Bakkt’s Bitcoin Futures Launch in Singapore in Just Two Weeks
Bakkt has more recently announced its intention to develop aconsumer-facing mobile applicationfor bitcoin payments,expanded custody services, as well asoptionsandcash-settled futures contractsto be rolled out in the coming weeks.
It remains unclear who will take the helm at Bakkt after Loeffler takes up her new position on Jan. 1, 2020. However, current COO andformer Coinbase executiveAdam White would be a natural successor to the role. A spokesperson did not return a request for comment by press time.
A press releaseshared after this article was published congratulated Loeffler on her new role. While the release noted that she would be stepping down from her role at Bakkt before she is sworn in, it did not address who might take over the position.
• Bakkt, Fidelity Will Store Galaxy Digital’s New Bitcoin Fund Holdings
• Bakkt in Discussions to Offer Cash-Settled Bitcoin Futures in Singapore || Recap: Eight Events That Drove The Bitcoin Economy In 2019: 2019 is well and truly in the books, and the "Crypto Predictions for 2020" editorials have long since flooded email inboxes, blogs and forums. Don’t worry, this isn’t one of those. Instead, we want to cast our gaze back over the preceding 12 months and recap several fascinating events and trends that occurred. Whether you missed them the first time around or need reminding about their newsworthiness, you’ll want to read on. 1) The Crypto Credit Bubble Back in October, a group of former Wall Street traders cast a pall on the success of crypto lending companies by predicting that the $5 billion crypto loan bubble was set to burst . Concerns centered around a lack of regulation, cheap credit and blind faith in the market’s strength. The growth of decentralized finance (DeFi), with its emphasis on open-source projects and accessible finance for all, undoubtedly ties in to this fear, not least since DeFi has grown by over 300% in the past year. But while greed was largely responsible for the financial crash of 2008 (as well as the ICO slowdown), there are greed-free initiatives flourishing in this space. Cred is just one example. The decentralized global lending platform, which is affiliated with the Universal Protocol Alliance and headed by ex- PayPal Holdings Inc (NASDAQ: PYPL ) exec Dan Schatt, prides itself on its comprehensive regulatory and compliance framework. Last summer, Cred partnered with Bitcoin.com to give customers the opportunity to earn interest on their digital assets. 2) Libra In Limbo Facebook Inc ’s (NASDAQ: FB ) much touted Libra stablecoin was formally announced in June, but was soon enveloped in a tsunami of regulatory red tape, leading to a Congressional moratorium and a mass exodus of companies from the Libra Association – not least PayPal, Visa Inc (NYSE: V ), eBay Inc (NASDAQ: EBAY ) and Stripe. What happens next is anyone’s guess. In the meantime, alternatives have come to light. The aforementioned UPA’s Universal Dollar and Saga’s SGA token, which launched in December, are among them. The latter is a stablecoin initially backed by a basket of national currencies (mimicking the IMF’s SDR basket), and given that Saga’s advisory board includes luminaries like Professor Jacob A. Frenkel, PhD, chairman of JPMorgan Chase International, it’s definitely one to watch. 3) One-Year Anniversary For RSK Infrastructure Solutions (RIF) December marked the one-year anniversary of RSK Infrastructure Framework Open Standard (RIF OS), based on the first open-source smart contract network secured by the Bitcoin network. This stack of decentralized finance components enables developers to import, create and deploy their EVM based dApps, and pulled off a major coup in 2019 by acquiring leading Hispanic social network Taringa. Story continues RSK’s SmartBitcoin is pegged 1:1 with BTC, and there’s also a BTC-collateralized stablecoin under the company banner, with libraries, a decentralized exchange, lending protocols and insurance rounding out the stack. With the permissionless of open finance and the security of Bitcoin’s proof-of-work, RSK is building a robust defi ecosystem with a myriad of real world applications. 4) Tron Joins Forces With Samsung Tron solidified its status as a top-15 crypto asset – as well as one of the most liquid by volume on many global exchanges – in the past 12 months. It also struck a landmark deal with Samsung, with the tech giant integrating Tron’s TRX cryptocurrency with its Blockchain Keystore. What’s more, the link-up allows users of newer Samsung handsets to use TRX to purchase decentralized applications built on the Tron network. With blockchain-based content sharing platform DLive having commenced migration to the TRON blockchain at the tailend of 2019, the next 12 months are shaping up to be interesting for Justin Sun’s company. Are you really surprised? 5) Crypto Platform Sponsors Premier League Team Newcastle United’s decision to partner with crypto trading platform StormGain, which saw the company logo appearing on the sleeves of all 2019/20 shirts, reflected a recent trend: the season before, Wolves had sealed the first ever sports sponsorship deal involving a crypto platform, namely CoinDeal. In any case, partnering with the Magpies was quite a coup for StormGain, who only launched last summer. The margin trading platform lets crypto newcomers buy or trade the most popular and capitalized coins, with up to 150x leverage and trades denominated in tether (USDT). Perhaps other major sports outfits will grab a piece of the Premier League glitz before the 2020/21 season gets underway. 6) Litecoin Halves With the crypto world gearing up for Bitcoin’s halving in May 2020, Litecoin’s quadrennial halving in August attracted a great deal of interest. The second halving event in Litecoin’s history followed an anticipatory rally, wherein LTC hit a June high $146 before backsliding to sub-$40 levels. Despite the fire sale, LTC ended the year with a 38% gain. 7) Interoperability Everywhere Interoperability’ was one of the buzzwords of 2019, as the developers of crypto protocols sought to find ways to make other crypto protocols talk to them. Cross-chain swaps, sidechains, atomic swaps and all manner of other blockchain voodoo was deployed in a bid to de-silo crypto networks and usher in a new era of connectivity. Some of the finest work was undertaken by EOS scaling solution LiquidApps, which has done more to unite blockchains than perhaps anyone operating in the space. In 2019, its DAPP Network eased the strain on the EOS main chain and drove down resource costs for dApp developers. In the process, it showed that there’s more than one way to scale a blockchain. 8) Esports Goes Crypto The esports and crypto audiences are closely aligned and it was only a matter of time until their houses were united. The $1 billion esports market is showing no signs of slowing down, and projects like Kronoverse are betting on it. The blockchain company is placing esports games on-chain, so that players and fans have an auditable record of all results, coupled with the ability to trade in-game items using NFTs. Provably fair casino gaming, delivered with the aid of blockchain, has already begun to gain traction on the web. If Kronoverse has its way, provably fair esports will soon follow suit. The world of Bitcoin is never dull, and 2020 is sure to reinforce that truism. With bitcoin derivatives volumes growing, the DeFi market expanding, and crypto-friendly banks proliferating, buckle up for another thrilling year in the cryptosphere. Image by Gerd Altmann from Pixabay 0 See more from Benzinga Proven Canadian Dividend Stocks Worth Investing In Global Stablecoin Saga Launches On Liquid Exchange Why Susquehanna Growth Equity Is Going M Deep Into Duda's Site Building Technology © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Bitcoin money laundering is a classically dumb crime: Laundering money through bitcoin is a bad ideanot only because its illegal, but also because it leaves a permanent trail. Defendants have repeatedly been undone because theyve relied on the cryptocurrency for some part of their nefarious activities. Sometimes, theyve been arrested years after their alleged crimes . According to the United Nations Office on Drugs and Crime, its estimated that 2% to 5% of the global GDPor $800 billion to $2 trillion is laundered each year, much of it in cash . But over the last few years, with cryptocurrencies growing in prominence and price, theyve become a popular option, too. Government agencies have started contracting crypto-analytics firms like Chainalysis and CipherTrace to track down money launderers and other criminals. A new study linking profanity to honesty shows people who curse are more authentic Cryptocurrencies have the reputation for being cross-border and anonymous, and therefore attractive to bad actors across the world, Kim Grauer, senior economist for Chainalysis, explained to Quartz over email. But because transactions involving cryptocurrencies like bitcoin are recorded on a permanent, public, and immutable ledger, cryptocurrencies can actually offer unprecedented transparency into financial transactions. Laundering money through bitcoin is like pulling off a jewelry heist , but leaving a map to your apartment at the scene of the crime. You can shred the map into tiny piecesby sending bitcoin through multiple wallet addresses , or accounts, to hide your tracksbut with sufficient time and data-crunching power, its possible for other people to reassemble the clues. What cryptocurrencies save in time (versus say, buying and selling bars of gold ) they lose in efficacy. When it comes to financial crime, the vast majority of cryptocurrencies, including bitcoin and ether, are blunt instruments. People with depression are more likely to say certain words Story continues The goal of money laundering is to create a chain of transactions that cant be traced, so since the bitcoin blockchain is designed to have an indelible public record of all transactions, it makes laundering much more difficult, Dave Weisberger, CEO of CoinRoutes, a crypto order-routing service, said. The technology from [blockchain analytics] firms such as Elliptic and Chainanalysis is sophisticated as well. They can trace [wallet] addresses quite well, which also make law enforcement easier. Thats part of why the arrest of a crypto expert last week is confounding. Virgil Griffith, a special projects researcher for the Ethereum Foundation, was detained last week in Los Angeles. The US accuses him of traveling to North Korea earlier this year in order [to] deliver a presentation and technical advice on using cryptocurrency and blockchain technology to evade sanctions. Regardless of whether Griffith is innocent or guilty, what hes accused of is, well, dumb. Is it possible to launder money and evade US sanctions using cryptocurrencies? Yes. Is it advisable, or even practical? Hell no. Cryptos limited trading volumes, traceability, and storage risk affect everybody. Reuters additionally reported that Griffith may have planned to send mining equipment to North Korea, ostensibly so the government or others could generate their own ether. Apparently he called the idea cool. But againregardless of whether a crime was committedits laughably unrealistic at scale, and anybody who got within 100 miles of North Korean bitcoin would put themselves on the blockchain (and watchlists) forever. Bits & Pieces The SEC has a new chief crypto cop ( CoinDesk ) DOJ arrests Ethereum Foundation coder for teaching North Korea how to launder money, evade sanctions ( Amy Castor ) Virgil Griffith: Internet Man of Mystery ( NYT , 2008) Ethereum is game-changing technology, literally ( Virgil Griffith on Medium ) Ex-CFTC chair Giancarlo to push for digital dollar in new role at white-shoe law firm ( CoinDesk ) Crypto needs more journalists than it wants to admit ( Fortune ) Tomorrow at Princeton University: The future of money and the payment system, BIS General Manager Agustín Carstens ( Watch here ) Please send news, tips, and gold bars to [email protected] . Todays Private Key was written by Matthew De Silva and edited by Mike Murphy . You must study the endgame before everything else. Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: Psychology suggests that when someone calls you the wrong name, its because they love you The difference between a snafu, a shitshow, and a clusterfuck || Bitcoin traders openly admit to cashing in on conflict: Opportunist traders admit they want tensions between Iran and the USA to escalate in order to cash in on cryptocurrency price spikes that occur during military conflict. The price of oil and gold rose dramatically within hours of the US airstrike which killed Iranian military leader Qasem Soleimani in Baghdad on January 3. The drone attack also appeared to push the value of BTC upwards from what had been a drawn-out slump to below $7,000. By the time news of the attack fully emerged, Bitcoin had shaken off its post-Christmas hangover and looked set to be building for a challenge on the $8,000 mark. During the following days of military posturing, according to a Coin Rivet exclusive for the Daily Express , the trading volume escalated as investors across the globe began piling savings into cryptocurrency. Bitcoins price at great odds with the trend it had established in the lead up to Christmas continued to build before another lurch skywards in the moments after news broke of Tehrans retaliation in the early hours of January 8. In an instant, BTC was surging to a high of $8,400 a figure many would have seen as impossible only a week earlier. Despite the threat of war and bloodshed, several crypto traders have admitted to cashing in on the conflict with little care for the potential wider consequences of international unrest. Threat of war One such trader known as BT_C_gal on crypto platform BitMEX explained she had no qualms about making money on the back of the threat of war. Im not responsible for the air strikes, Im not launching any missiles, and Im not killing anyone, so I dont see what possible harm Im doing by making a profit out of my positions, said the trader, who purportedly hails from Scotland. Ive been trading in Bitcoin, Ethereum, and Litecoin since 2016 and have a good sense of when and how somethings going to go up or down. Thats just a skill Ive developed and has no bearing on the rights or wrongs of war. Its not as if Im profiteering from conflict, because thats a question you should be asking of arms manufacturers and the interests they hold. Story continues Another trader Vitza5032 wasnt quite so thoughtful on the matter. Instead, the London-based user was keen to express his desire for further conflict. If its making me money I dont care, he said. More bombs, more missiles, more international disruption it all helps me to decide when and where I place my trades and I have no problem with it. The more anarchy and disruption we have, then the more people invest into crypto and that just suits me fine. If Trump and Boris want to start a world war then bring it on. True to form, since last Wednesdays peak, the cryptocurrency markets have mirrored the international narrative. Olive branch As both the US and Tehran offered the glimmer of a veiled olive branch by the weekend, Bitcoins price began to fall. An apparent stepping back from the brink on both sides was matched by a steady decline from $8,300 to below $8,000 before rising and falling again over the last two days during political unrest and civilian protest. Following a weekend of discontent after Iranian officials admitted launching missiles at a Ukraine International Airlines plane that crashed, killing all 176 on board, protestors took to Tehrans Azadi Square. Iranian police have been accused of using live ammunition against the protestors who were appealing for international peace. The protests seemed to see the markets form a steady decline before US President Donald Trump waded in with a tweet to Iran. Donald Trump's tweet about protests Donald Trumps tweet about protests Within the tweet, he wrote
the world is watching. More importantly, the USA is watching in an apparent veiled threat that further military action was not off the table. Bitcoins value rose almost instantly, touching $8,200 before settling again to where it currently stands at around $8,100. The post Bitcoin traders openly admit to cashing in on conflict appeared first on Coin Rivet . || Chinese Insurance Giant Ping An’s Blockchain Arm Reveals Terms for $468M IPO: OneConnect Financial Technology, the blockchain and AI subsidiary of China’s top insurance company Ping An Insurance, has set the terms for its previously announced initial public offering (IPO).
According to an updatedF-1 filingwith the U.S. Securities and Exchange Commission (SEC) on Monday, the firm aims to raise between $432 million and $504 million via the offering of 36 million American depositary shares (ADSs) at a price of between $12 and $14. Each ADS represents three ordinary shares.
The target raise is much higher than when the firm’s prospectus wasfirst filedin mid November, when a figure of $100 million was proposed.
Related:Canadian Fund Manager 3iQ Files Prospectus for Bitcoin Fund IPO
OneConnect plans to list on the NYSE with the ticker “OCFT” on Dec. 12, according toNasdaq. The IPO’s underwriters include Morgan Stanley, Goldman Sachs, JPMorgan, HSBC and Bank of America.
The filing values the company at around $4.7–4.9 billion, down from a $7.5 billion valuation at the time of its last fundraise – a round backed by Japanese private equity giant SoftBank.
OneConnect reported revenue of $222 million and an operating loss of $160 million for the first nine months of 2019, according to Nasdaq.
Reuters reportedin September that the firm had been seeking to go public in Hong Kong with a $1 billion target, but shifted to the U.S. hoping to raise a higher amount. It now seems OneConnect has settled for half that amount, if the report was correct.
• Ledger’s Vault Scores $150 Million in Crypto Insurance From Lloyd’s Syndicate
• Fintech Arm of Chinese Insurance Giant Files for US IPO After Blockchain Push
• Bitmain Seeking US IPO With Confidential SEC Filing: Report || Billionaire Mark Cuban claims Bitcoin has no chance of becoming reliable: Billionaire investor and Dallas Mavericks owner Mark Cuban has claimed that Bitcoin has no chance of becoming a reliable currency. Speaking to Forbes , Cuban said that Bitcoin wont gain mainstream adoption due to it being too hard to understand. Not because it cant work technically, although there are challenges, it could, but rather because its too difficult to use, too easy to hack, way too easy to lose, too hard to understand, too hard to assess a value, he said. This is not the first time Cuban has criticised Bitcoin and cryptocurrencies. In October, he said that Bitcoin holds the same value as baseball cards , while in 2017 he labelled the meteoric rise to $20,000 as a bubble. He also claimed that he would rather own bananas than Bitcoin, stating its only worth what someone is willing to pay for it. In response to questioning on whether Bitcoin has the potential to be a reliable financial asset in the future, Cuban said: It is a collectible. If you consider art or gold a viable stable financial asset, then yes. It can be. Theres a lot of applications and theyll be used, but you dont need Bitcoin. You can create blockchain on your own without using all the available cryptocurrencies. For more news, guides, and cryptocurrency analysis, click here . The post Billionaire Mark Cuban claims Bitcoin has no chance of becoming reliable appeared first on Coin Rivet . || Corporations Need Bitcoin. They Just Don’t Know It Yet: This post is part of CoinDesk’s 2019Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Chris Dannen is co-founder at Iterative Capital, a New York-based cryptocurrency investment manager, and CEO of i2 Trading, a wholesale dealer and trading desk.
Anyone who’s attended cryptocurrency conferences in 2019 has experienced the narrative confusion that hit after the ICO bubble. “Blockchain” companies push lame enterprise products which are, at best, nice to have; token issuers shill new issuances; exchange operators search for capital.
Who isn’t there? Big corporate technology customers. Like any technological device of the last 50 years, cryptocurrency needs to catch their attention before large-scale adoption is feasible.
Related:Smashing Through Surveillance Capitalism With Blockchain
But two years after the bubble, killer apps are nowhere to be seen. So at the start of a new year, it’s worth asking ourselves what sort of path might bitcoin and its competitors take to get there, and whether 2020 is an inflection point.
Whatever the path and timeline, the transition period for corporations building on bitcoin is sure to be painful; at a big company, technological change always is. Automating payroll, invoicing, expense-reporting and other financial operations on top of the bitcoin network would be a slow and expensive process, requiring a massive amount of time and money spent on building software and retraining workers.
Only an extremely serious problem could be the impetus for such a scenario. Does such a problem exist today, and if so, how might cryptocurrency solve it?
Consider a few data points:
• In 1958, the mean lifespan of a blue-chip company was 61 years; by 2016 it had dropped to 24 years.
• Almost three-quarters of a billion hours per week are spent by U.S. workers on internal compliance activities, roughly half of which do not create value.
• The return-on-assets of the top 25 percent of public companies declined from 12.9 percent in 1965 to 8.3 percent in 2015.
• Things are going badly for workers, too; since 1976, productivity growth (from technology) has outstripped wage growth by a factor of 5.9.*
Related:2020 Vision: 7 Trends Bringing Blockchain Into Focus in the Year Ahead
From Nokia to Microsoft to Borders to BlackBerry, incumbents fail again and again to preserve their market position and grow wages, despite all the market data they vacuum up each year, all the consultants they pay and all the bright young college grads they hire.
This is a big problem. Why is it so?
The problem is that digital technology has advanced the “practical arts” (from spreadsheets to movie-making) to such a degree that advanced planning and hyper-efficient processes – once strengths of the large hierarchical organization – are no longer as valuable. In an unpredictable, ad-hoc business environment, agility rules and bureaucracy is a drag.
If Bitcoin and similar networks can’t help large companies become more agile, they may have little relevance in the economy of the next 20 years. What is the path to utility?
The philosopher Bertrand de Jouvenel theorized that we can reason about the future by conceiving of “futuribles.” “A future state of affairs enters into the class of ‘futuribles’ only if its mode of production from the present state of affairs is plausible and imaginable,” he wrote. “A futurible is a descendant of the present, a descendant to which we attach a genealogy” that extends from conditions today.
What are the “conditions” of the whirlwind corporate world of the last decade? In their attempts to move faster and forestall their early demise, the largest incumbents have begun to reorganize to reduce hierarchy and push more decision-making to the margins of the business and away from upper management. What is the corresponding futurible as we look to the 2020s?
What sort of operating model might corporations be forced to adopt next, as the physical world digitizes and the speed of business further increases?
While he’s never written about cryptocurrency, Harvard Business School professor John P. Kotter originated the concept of “the dual-operating-system company,” which combines a traditional hierarchical management organization with a “network” ofsupertemps, some paid and some unpaid, outside the office walls.
Hierarchies, he says, are good for planning, creating budgets, defining roles, HR functions and measuring results. “What they do not do well,” hewrotein the Harvard Business Review in 2012, “is identify the most important hazards and opportunities early enough, formulate creative strategic initiatives nimbly enough, and implement them fast enough.”
He advocates what he calls a “second operating system,” a network of people who design and implement strategy from outside. The network half of the dual-OS company is like an immune system for the traditional corporate hierarchy, constantly surveying the business, its markets and its competitors to bring new information and practices in.
Kotter says about 10 percent of the network should be comprised of full-time employees, and the rest carefully-selected part-timers and volunteers, who are given highly structured processes to make sure their contributions are meaningful, and whose work is seen at high levels of the hierarchy.
There are a few practical problems with an ideal implementation of Kotter’s dual-OS model, however, especially with a very large network. One is payroll. If roles are non-standard, with varying schedules of compensation for part-time, full-time and contract work (and payees constantly dropping on and off at high volume), an army of HR staff would be needed to handle the load. It’s even worse if paychecks are being remitted around the world to a network of external contributors, in places where the business doesn’t have a local office.
Could it be that dual-OS is the panacea to ailing corporations and that it needs a new sort of financial infrastructure to be implemented economically?
Bitcoin is, at heart, infrastructure built for (and by) leaderless groups, operating by emergent consensus. Examples of leaderless groups include not just FOSS developers, but also hashtag-based movements like #metoo, or Occupy Wall Street-style protests like the Arab Spring in 2011. In Kotter’s dual-OS company, the “network” half is one such leaderless group.
Bitcoin is ideal infrastructure for leaderless groups, because wallets can be issued without permission, and Bitcoin payments are easy to automate, giving companies the flexibility to pay people in very small or very large amounts, at large scale, anywhere in the world.
Another headache of dual-OS is budgetary permissions. Companies like to set thresholds where staff can spend money with or without permission, but these rules are often not very granular at the corporate credit card level, and enforcing them otherwise can be hard. Custom wallet software, perhaps with multi-signature functionality for large wallets, can help companies put the spending power in the hands of employees, reducing the bottleneck of managerial approval by formalizing the spending rules into the wallet software iself.
Remittance is another issue, for corporations and their employees overseas. Remote offices often need to remit payment back home, but forex conversions can be difficult, slow and expensive in some geographies. Employees working in far-flung places need to be paid locally, but also like to send money home; fees and delays abound with existing financial systems. The increasingly global nature of business means that suppliers, manufacturers and logistics agencies may need to be paid in dozens of different currencies.
Thus, the dual-OS operating model seems like a valid futurible for today’s corporations, and its challenges create a need for digitized financial infrastructure.
To the business world, bitcoin and its competitors are effectively competing to be the premierinter-settlement-network network.That is, networks which transmit value between poorly connected fiat systems, filling gaps where other services are too expensive, bureaucratic or slow.
Before long, local money transmitters will be able to push large amounts of value cheaply and instantly through Lightning (or similar) channels from one country to another, meaning that their customers never even need to own bitcoin to benefit from the technology to remit value overseas.
This has been a cursory look at how bitcoin might find its way into the mission-critical enterprise stack. In an attempt to remain agile, large incumbents have already begun to wrap themselves in permeable networks, even without knowing how such a dual-OS structure might scale. As they grow their networks, it’s only a matter of time before the cryptocurrency narrative regains its strength.
*Data from Aaron Dignan’s new book,Brave New Work.
• Regulatory Issues Need More Clarity in 2020
• Beyond Storage: How Custody Is Evolving to Meet Institutional Needs || Bitcoin trading in Argentina hits all-time high in run-up to Christmas: While many of us were buying last-minute Christmas presents of socks and aftershave, in Argentina, it looks as if the focus was on Bitcoin. According to incredible stats compiled by CoinDance, Bitcoin trading in Argentina skyrocketed to an all-time high in the run-up to Christmas. Peer-to-peer Bitcoin trading in Argentina CoinDance measures the volume of transactions over time on peer-to-peer (P2P) platforms. It found that Bitcoin trading in Argentina in the week of December 21 reached a staggering $32.6 million Argentine pesos (approximately $544,905 US dollars). Thats 34% more than the volume registered in previous weeks and marks a historical record in P2P trading on LocalBitcoins a platform popular in the Latin American country. Bitcoin trading in Argentina While Bitcoin trading in Argentina has cooled off again since reaching its peak, the increased trading volume in December demonstrates Argentinas growing interest in Bitcoin. At 55.44% at the end of 2019, inflation in Argentina is among the highest in the world. This makes it impossible for Argentines to save in their national currency. But why was there such a spike in peer-to-peer Bitcoin trading in Argentina the week of December 21? A historic distrust of its national currency Argentines historically distrust their national currency and with good reason. Its let them down many times before with wide-scale devaluations and banking crises. This has fostered an obsession with dollars in the country. Many Argentines wishing to save or carry out transactions on high-ticket items instinctively convert their pesos to dollars. Since President Macris sweeping defeat in October, in an attempt to prevent capital flight, the Argentine central bank restricted the purchase of foreign currency to just $200 per month per citizen. On Tuesday December 17, the new Argentine government led by Alberto Fernández announced a new series of measures to further hamper access to dollars and foster a new love of the peso. Story continues The first of which is abolishing a tax on saving in pesos. We need to recover savings in our currency, said the new Minister of Economy, Martín Guzmán, as he announced that the tax on savings in pesos was being written off. We also need to discourage savings in a currency that we do not produce, which are dollars, he added. Therefore, in addition to the $200 monthly limit, Argentines will pay a 30% tax for the purchase of dollars and for any expenses abroad. These include tourism (making it harder for Argentines to travel) and even services such as Netflix, Airbnb, and Spotify. The tax will not affect expenses related to health, medications, books, and research projects. These measures are part of the so-called Law of Solidarity and Productive Reactivation that the government plans to push through parliament. According to Guzmán, it is the first step to resolve the economic and social crisis that Argentina is going through. 70% of funds collected with the dollar tax will go to the social security system, while the remaining 30% will finance infrastructure and housing works in the country. Solidarity law pushing Argentines to Bitcoin The reasons behind the Law of Solidarity and Productive Reactivation may be well-intended. However, its hard to change a mindset built up over the years and encourage trust in the peso again. Its certainly no coincidence that the spike in Bitcoin trading in Argentina resulted shortly after the new measures were announced. Argentina is not the only country in Latin America to have a tendency towards P2P BTC trading. Venezuela also reached an all-time high that same week, representing a 15.6% increase from the week before. Argentinas ravaged neighbours to the north, in fact, are still showing more and more interest in Bitcoin trading, registering another all-time high the week of January 4. Bitcoin trading in Venezuela Bitcoin a new Latin American alternative? Argentina and Venezuela are in the throes of complicated economic and financial crises. The situation in Venezuela is far worse, with annual inflation of over 10 million percent . However, the Argentine peso is also being weakened on an almost daily basis. Both countries are also struggling to attract investment and have restricted access to international credit. The devaluation of local currencies is one of the main reasons specialised investors and a young tech-savvy population have turned to Bitcoin as an alternative to escape monetary depreciation and shield their wealth. However, the enormous obstacles and restrictions on access to foreign exchange have further boosted P2P Bitcoin trading in Argentina and Venezuela. These activities are not yet regulated by current legislation and have allowed investors to quickly exchange their local currency for units or fractions of cryptocurrencies that are traded internationally. Bitcoin may have been born from the ashes of the last global economic meltdown, but the majority of its users are treating it as a store of value. For countries like Argentina and Venezuela, Bitcoin is truly proving to be a viable way of escaping erroneous economic policies and weak local fiat currencies. The post Bitcoin trading in Argentina hits all-time high in run-up to Christmas appeared first on Coin Rivet . || Former CFTC chair, ‘Crypto Dad,’ joins law firm to push for digital dollar: Former Commodity Futures Trading Commission (CFTC) Chairman Christopher Giancarlo is set to join New York-headquartered law firm Willkie Farr & Gallagher as a senior counsel.
“I have spent the past three and a half decades advising and building global businesses and regulatory frameworks in the juncture of trading markets, technology and law,” he said in an email announcement. “I am delighted to join a firm that is a center of excellence in all three areas.”
Dubbed “Crypto Dad” by crypto enthusiasts, Giancarlo was appointed CFTC Commissioner during President Barack Obama’s administration and completed his five-year term in July 2019. HegainedInternet fame in 2018 for writing to the U.S. Senate that lawmakers should respect the next generation’s wishes and embrace Bitcoin because its adoption might be inevitable.
He said in the email announcement that in addition to working with Willkie clients, he would continue making impacts on public policy through writing and personal service on public and private boards. Two of his key focuses, he said, would be to advocate for the development of a blockchain-based digital dollar and the replacement of the London Inter-bank Offered Rate (LIBOR) with an American lending benchmark.
“I expect soon to announce additional leadership roles in enterprises engaged in financial trading markets and digital commerce,” he said.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 8445.43, 8367.85, 8596.83, 8909.82, 9358.59, 9316.63, 9508.99, 9350.53, 9392.88, 9344.37
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-07-13]
BTC Price: 654.47, BTC RSI: 50.31
Gold Price: 1342.40, Gold RSI: 61.66
Oil Price: 44.75, Oil RSI: 42.23
[Random Sample of News (last 60 days)]
Bank of Canada studies payments system using tech behind bitcoin: By Ethan Lou and Leah Schnurr TORONTO/OTTAWA (Reuters) - The Bank of Canada is experimenting with a payments system based on the technology behind the bitcoin virtual currency, the central bank said on Thursday. Bank of Canada Senior Deputy Governor Carolyn Wilkins said the central bank has been working with commercial banks to build the experimental interbank payment system. The goal "is solely to better understand the technology first-hand," she said in a statement. "Other frameworks need to be investigated, and there are many hurdles that need to be cleared before such a system would ever be ready for prime time." Wilkins, expected to speak further on the issue on Friday, said the experiment is among many financial technology research projects. Such experiments, she noted, are not aimed at developing central-bank issued e-money for use by the general public. Details of the project, which uses the distributed-ledger technology associated with web-based currency bitcoin, were revealed at a payment-technology event in Calgary on Wednesday that was closed to media. Kyle Kemper, an entrepreneur and head of the Bitcoin Alliance of Canada, who was present at Wednesday's event, said the experiment is called "Project Jasper" and involves blockchain technology. Blockchain's distributed-ledger system allows users to conduct secure transactions with each other without the need for middlemen or central oversight, unlike traditional electronic funds transfers. A slide from a presentation at the event seen by Reuters details how the banks in the experiment would pledge cash collateral in a pool that the Bank of Canada would convert into a digital version. The digital currency would then be used as a medium of exchange and could be converted back to cash. While long known as the backbone of bitcoin, launched under a pseudonym, blockchain has garnered the attention of large financial institutions in recent years. R3, a New York-based research consortium that includes all of Canada's major banks, is a partner in the Bank of Canada's project, along with Payments Canada. Royal Bank of Canada, CIBC, TD Bank and Payments Canada declined to comment. (Reporting by Leah Schnurr and Ethan Lou; Editing by Dan Grebler) || INVESTMENT FOCUS-Index-eligible or not, China's allure dimmed by yuan fears: By Sujata Rao LONDON, June 17 (Reuters) - Just as China's $10 trillion bond and equity markets appear to be on the cusp of joining global indexes, investors who long sought free access to these assets have started to worry that any returns would be hit by a weakening yuan. Many were disappointed by MSCI's decision this week to keep China's mainland listed A-shares off its emerging market indexes on the grounds that Beijing needed to make its markets more easily accessible to foreign investors. But market watchers said the decision, made after months of consultations with investors, at least partly reflected fund managers' unease about allocating more to yuan-denominated assets. Currently, MSCI indexes include only Chinese stocks listed offshore which are freely traded. China's mainland stocks will almost certainly be added to equity indexes in the coming years, if not months, as will the country's $7 trillion government bond market, the world's third-biggest. That should bring more capital inflows, especially as foreign holdings of local shares and bonds currently amount to just $180 billion, JPMorgan calculates. But the timing is tricky. An economy growing at its slowest pace in 25 years, falling exports and potential U.S. interest rate rises are seen portending yuan weakness. Memories are still fresh of last August's devaluation, when the yuan fell 2.7 percent against the dollar in one week. "There is pent-up demand for exposure to China, but we are probably in a period when the world is happy not to hold too much of it," said Kieran Curtis, a bond fund manager at Standard Life Investments. "You get a pretty decent (bond) yield but people will be reluctant to pile in because of expectations of currency depreciation." Recent yuan moves give credence to such fears. Authorities have recently been fixing the official exchange rate at steadily weaker levels, pushing it to five-year lows. That weakness and a surge in outbound investment could also fuel a resumption of last year's huge capital outflows. Story continues The yuan has fallen 8 percent against the dollar since the end of 2013, ceding a quarter of its appreciation since 2005. But against its trading partners' currencies it has fallen 4.3 percent this year, suffering more trade-weighted depreciation than any emerging currency other than the Mexican peso. INDEX INCLUSION Keen to boost the international profile of its markets and currency, Beijing has rushed to make the changes that index providers require, relaxing quota-based investment programmes and clamping down on arbitrary share suspensions. Bond investors were told last month they would be able to remit money more freely, a move seen as potentially enabling entry to major debt indexes and bringing in at least $155 billion, according to JPMorgan estimates. JPMorgan has already put China on a watchlist for its GBI-EM emerging bond index. China's government pays 3 percent on its 10-year bonds, far higher than any other country whose currency is in the International Monetary Fund's SDR basket. But while this is high in the global context, it may seem paltry to emerging debt specialists who earn more than 6 percent on the GBI-EM index on average. "At this juncture I don't think China will attract material interest...it will be the lowest yielding market in the (GBI-EM) index. Plus the tail risk that they could devalue," said Naveen Kunam, portfolio manager at Allianz Global Investors. Indeed, non-deliverable forwards (NDFs), derivatives used by investors to lock in future exchange rates, price the yuan at 6.8 per dollar in a year's time versus the spot rate of 6.6. This is down from January peaks close to 7 but investors planning to buy Chinese assets should use the pullback to add yuan hedges, analysts at Goldman Sachs advise. Hedging erodes returns: Someone holding a six-month NDF, for example, would pay away roughly 1.2 percent of the yield earned. WAIT Many therefore say they will wait. "FX risk is something to take into account because with the yield differential being quite low with the U.S., the FX effect becomes more influential in your investment decision," said PineBridge Investments' portfolio manager Anders Faergeman. Another 5-10 percent yuan depreciation versus the dollar would get him interested in Chinese bonds, Faergeman added. Of course not everyone believes yuan weakening is inevitable. China's exports are competitive enough without a devaluation, analysts at asset manager Matthews Asia say. Sentiment, however, is powerful. Reuters reported this month that investors inside and outside China were employing various strategies to profit from yuan weakness, including buying Bitcoin and shorting Hong Kong stocks correlated to the exchange rate. Shanghai shares have fallen almost 20 percent this year and China funds tracked by EPFR Global have seen around $2.5 billion in outflows. That's part of a broader picture of capital flight from Chinese firms and individuals, with May alone seeing $27 billion flee. Patrick Mange, head of EM strategy at BNP Paribas Investment Partners says big yuan devaluation risks are actually small as China can easily tighten capital controls if needed. "This risk is in the mind of people, it is a longer-term risk which would impact this market." (Additional reporting by Karin Strohecker and Nicola Saminather in Singapore, graphics by Vincent Flasseur and Nigel Stephenson; Editing by Hugh Lawson) || What the Brexit means for your retirement: Brexit and the chaos it unleashed in financial markets are no reason for investors with a sound financial plan to panic. That’s the word from Ric Edelman, who runs one of America’s top financial advisory firms.
Stocks (^DJI,^IXIC,^GSPC) tanked on Friday, with all three major indexes plunging three to four percent. Investors turned to classic safe havens, sending gold prices (GCN16.CMX) soaring and bond yields (^TNX) sharply lower. U.S. stocks are pointing to a slightly lower open Monday after mixed results in Europe and Asia overnight.
“This is a classic knee-jerk reaction from Wall Street traders,” Edelman tells Yahoo Finance about theBrexit selloff in stocks. “Our clients are focused on their long-term goals. There will be no sustained impact five years from now. They can ignore it, or if anything, capitalize.”
Edelman Financial Services manages $16 billion for more than 30,000 clients.
Edelman says given Brexit, theUS presidential electionand other worries, investors should expect market volatility for a while. In response to wild market swings, his strong advice is “do not change your long-term investment strategy.”
Edelman says his clients will take advantage of the volatility to rebalance their portfolios, selling assets that have appreciated in value and adding assets like stocks that have suffered declines. “This represents investment opportunity,” he said.
Unfortunately, Edelman says, many investors will do exactly the opposite and dump stocks when they’re falling. “Nobody knows how low is low, and nobody knows what the market is going to do to.Trying to time the market is a fool’s bet, and that’s precisely what a lot of people try to do.”
That said, Edelman says events like the Brexit vote and the market’s reaction are a good time for people who need to get their financial houses in order to take action and to avoid making mistakes.
“If you don’t have a long term strategy, if you’re not properly diversified, this is the time to get effective financial advice,” Edelman says. “Investors could act on impulse and do the very wrong thing at the very wrong time.”
More from Yahoo Finance
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The big question looming over the markets after the Brexit bombshell
The newest Bitcoin price surge isn’t just about Brexit || EU proposes stricter rules on Bitcoin, prepaid cards in terrorism fight: By Foo Yun Chee
STRASBOURG (Reuters) - The European Commission proposed on Tuesday stricter rules on the use of virtual currencies and prepaid cards in a bid to reduce anonymous payments and curb the financing of terrorism.
Virtual currency exchange platforms will have to increase checks on the identities of people exchanging virtual currencies, such as Bitcoin, for real currencies and report suspicious transactions.
Under the Commission's proposals the threshold for making anonymous payments with pre-paid cards was lowered to 150 euros ($167.28) from 250 euros.
"Member states will be able to get and share vital information about who really owns companies or trusts, who is dealing in online currencies, and who is using pre-paid cards," EU Commission First Vice-President Frans Timmermans said.
Following attacks in Paris last November by Islamic State militants the EU executive said it would step up measures to cut off terrorists' access to funds.
French authorities have proved that pre-paid cards were used by the Paris attackers.
Prepaid cards are issued by a wide range of operators including banks using major networks, such as Visa and MasterCard. They are different from debit and credit cards because they need to be loaded before payments can be made, but can carry substantial amounts of money.
MasterCard said it supported the Commission's objective of strengthening the security of prepaid cards while ensuring that people less well-off could still use them.
The proposed higher controls on virtual currencies and pre-paid cards "are important in tackling black market and terrorist financing", said Chas Roy-Chowdhury, head of tax at ACCA, which represents the interests of the accountancy sector.
The Commission proposed increasing the amount of checks banks have to carry out on financial flows from risky third countries, namely states with poor anti-money laundering rules and difficulties countering terrorism financing.
In a bid to end tax evasion after the publication in April of the Panama Papers - which revealed widespread tax avoidance practices by wealthy individuals - the Commission also proposed rules requiring the beneficial owners of trusts to be recorded in registers that in many cases will be accessible to the public.
Existing and new accounts will be subject to due diligence controls and the Commission will look into finding effective ways for each member state to share information on beneficial owners of companies and trusts.
"These proposals for public registers will be welcomed by citizens and anti-corruption activists who want to follow the trail of dirty money," Laure Brillaud, Transparency International EU policy officer, said.
"However, we are concerned that it will be all too easy to evade being on the registers in the first place by gaming the rules on trusts. By simply nominating a non-EU resident as a trustee the secrecy can carry on as before," she added.
Tuesday's proposals will need to be approved by the EU Parliament and EU states before they become law.
(Writing by Julia Fioretti and Ines Kagubare; editing by Susan Thomas) || Bank of Canada studies payments system using tech behind bitcoin: By Ethan Lou and Leah Schnurr
TORONTO/OTTAWA (Reuters) - The Bank of Canada is experimenting with a payments system based on the technology behind the bitcoin virtual currency, the central bank said on Thursday.
Bank of Canada Senior Deputy Governor Carolyn Wilkins said the central bank has been working with commercial banks to build the experimental interbank payment system.
The goal "is solely to better understand the technology first-hand," she said in a statement. "Other frameworks need to be investigated, and there are many hurdles that need to be cleared before such a system would ever be ready for prime time."
Wilkins, expected to speak further on the issue on Friday, said the experiment is among many financial technology research projects. Such experiments, she noted, are not aimed at developing central-bank issued e-money for use by the general public.
Details of the project, which uses the distributed-ledger technology associated with web-based currency bitcoin, were revealed at a payment-technology event in Calgary on Wednesday that was closed to media.
Kyle Kemper, an entrepreneur and head of the Bitcoin Alliance of Canada, who was present at Wednesday's event, said the experiment is called "Project Jasper" and involves blockchain technology.
Blockchain's distributed-ledger system allows users to conduct secure transactions with each other without the need for middlemen or central oversight, unlike traditional electronic funds transfers.
A slide from a presentation at the event seen by Reuters details how the banks in the experiment would pledge cash collateral in a pool that the Bank of Canada would convert into a digital version.
The digital currency would then be used as a medium of exchange and could be converted back to cash.
While long known as the backbone of bitcoin, launched under a pseudonym, blockchain has garnered the attention of large financial institutions in recent years.
R3, a New York-based research consortium that includes all of Canada's major banks, is a partner in the Bank of Canada's project, along with Payments Canada.
Royal Bank of Canada, CIBC, TD Bank and Payments Canada declined to comment.
(Reporting by Leah Schnurr and Ethan Lou; Editing by Dan Grebler) || Santander says first UK bank to use blockchain for overseas payments: By Andrew MacAskill and Huw Jones LONDON (Reuters) - Santander is the first British bank to start using the technology behind virtual currency Bitcoin for recording international payments, and may start rolling out the service to customers next year, the head of innovation at its UK arm said.Blockchain, or distributed ledger technology, creates a shared database in which participants can trace every transaction ever conducted. Its proponents say it has the potential to shake up how financial markets operate.Santander said about 6,000 staff in Britain would be eligible to begin using the technology internally in a pilot program that aims to make the transfer of money faster, more accurate and more transparent. The technology may eventually allow banks to settle the estimated annual $26 trillion of international transactions almost instantaneously. That compares with settlement times of days under the current systems used by banks. "The main customer benefits are certainty of timing, so you know when the payment is going to arrive and certainty of value," said Ed Metzger, head of innovation, technology and operations at Santander UK.Metzger said at the moment when customers transfer money overseas the charges between banks and delivery times are estimates, whereas with this technology when a customer hits send that will be the amount that reaches the recipient account. Blockchain is part of the growing financial technology sector being encouraged by Britain to keep the country's financial sector competitive with New York and Singapore. Santander and other banks such as Citi, BNP Paribas and Goldman Sachs are investing in the sector to avoid being left behind by start-ups racing to apply blockchain in payments, and clearing and settlement of trades. Santander's pilot, however, underscores how the speed that blockchain could offer is shackled by being slotted into slower, legacy payments systems. Metzger said unless all the banks are using the same technology then the "last mile" of its pilot using blockchain will use slower, existing payments links. In March, broker ICAP said it was the first to distribute data on trades to customers using blockchain. (Editing by Mark Potter) || The tide of money is turning in one of the hottest areas of tech: (Flickr/Kolitha de Silva)
New York has traditionally been the hub of finance while Silicon Valley has the tech industry covered, but the tide of money is turning, and in fintech — the intersection of those two fields — New York is coming out on top.
Fintech, short for financial technology, is an industry based on using technology to make financial services more efficient.
According to a report published Thursday by Accenture Strategy and the Partnership Fund for New York City, New York tops Silicon Valley in fintech venture financing for the first time.
In Q1 2016, $690 million in fintech venture capital funding flowed into New York, while $511 million went to Silicon Valley.
Fintech investmentin New York during 2015 nearly tripled from 2014, to $2.3 billion, accounting for nearly 10% of all fintech investment globally.
(Accenture, Partnership Fund)
The top fintech accelerators in the US are based in New York, including Barclays Rise and the Fintech Innovation Lab, the latter of which held its demo day on Thursday. The Fintech Innovation Lab introduces selected startups in its program to 29 financial institutions that mentor the companies for 12 weeks. During this time, startups often adapt their models to solve common problems facing all financial institutions.
Technologies like blockchain, cloud computing, and alternative data analytics have the potential to revolutionize the financial services industry, but regulation and challenges to scale make it tough for startups to go at it alone. This has caused investment in the sector to shift from companies that compete with deep-pocketed traditional financial institutions to those that partner with them.
The chart below shows that in New York in 2010, 37% of fintech funding went to ventures that collaborated with financial institutions; that has increased to 83% in 2015.
(Accenture, Partnership Fund Analysis of CB Insights Data)
According to the report, banks are learning to work more closely with startups and transforming into companies that can seamlessly adopt new fintech and innovation solutions.
Robert Gach, managing director of capital markets at Accenture Strategy and a coauthor of the report, said he believes the shift from competition to collaboration will continue, and it has the potential to fundamentally change the banking ecosystem.
"It's when these technologies are no longer solving one problem at a time, but being put together and building upon each other that fintech will go the final mile," said Gach.
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• LendInvest to test investors || WRIT Media Group Develops Additional Strategies for Newly Acquired Pelecoin Digital Currency Technology: LOS ANGELES, CA--(Marketwired - Jun 29, 2016) - WRIT Media Group, Inc. ( OTCQB : WRIT ) is pleased to announce plans to develop Pelecoin's Blockchain technology into innovative products and applications that can be used for video game loyalty rewards, crowd funding, currency trading, and secure content distribution. WRIT Media Group's Pelecoin digital currency, acquired through its recent Pandora Venture Capital transaction, is a unique cryptocurrency platform that provides secure digital currency products and services -- including wallets, exchanges, loyalty rewards and merchant integration -- to consumers and businesses around the globe. The open and distributed nature of the "record keeping" in Pelecoin transactions ensures that evidence of ownership is reliable and that the reporting of transactions is verifiable and secure. The Company intends to develop this technology into the following products and applications: Currency & Derivative Trading WRIT Media Group plans to organize trade in derivative instruments, based on its existing Pelecoin technology, Bitcoin, and other digital currencies. The Company intends to combine the marketing advantages of Pelecoin with popular cryptocurrencies such as Bitcoin, by developing its exchange platform technologies to support trade in digital currencies. The platform plans to offer a full system to run a digital currency exchanges, including a solution for automatic market-making on exchange using third-party exchanges. When launched, the platform will work with Pelecoin, Bitcoin and other digital currency exchanges around the world. Video Game Loyalty Rewards WRIT Media Group intends to develop and deliver loyalty solutions built on the combination of Pelecoin's Blockchain technology and the Company's Amiga Games brand. Gamers can earn various points by playing Amiga Games or participating in other "value" activities. The earned points consolidate into AmigaRewards or other branded rewards, which will be tradable Blockchain-based loyalty tokens. The Company also plans to develop a suite of solutions which will allow brands to create and run rewards programs, as well as a marketplace to shop and redeem those reward points. Story continues Crowd Funding Crowdfunding and peer-to-peer lending have allowed retail investors to access asset classes and investment opportunities previously unavailable for them. The Company intends to develop a Pelecoin-based system where small amounts of equity can be attained without significant amounts of red tape, and where efficient record keeping of a high volume of shareholders and trades provides significant value to investors and companies alike. Secure Content The Company also plans to partner with leading content creators, owners, distributors and other creative institutions to enable artists and content owners to protect their works from copyright infringement and illicit uses by developing tracking software which uses its proprietary Pelecoin Blockchain technology. About Writ Media Group WRIT Media Group, Inc. ( OTCQB : WRIT ) is a diversified media and software company whose operations include content production and distribution; video game distribution via mobile platforms; and digital currency software development, including trading platforms and Blockchain solutions. The Company's portfolio of wholly owned businesses includes: Front Row Networks, a content creation company which produces, acquires and distributes live event programming for worldwide digital broadcast into digitally enabled movie theaters and online streaming; Amiga Games, a software company resurrecting the Amiga brand by publishing retro video games on smartphones, tablets and consoles; Retro Infinity, Inc., a video game distribution portal which publishes video games from Amiga, Atari and other "retro" brands on today's smartphones, tablets and consoles; and Pandora Venture Capital, a software developer with a focus on digital currency technologies, including; a cryptocurrency trading platform, a new generation of cryptocurrency, and Blockchain technology solutions. Cautionary Note Regarding Forward-Looking Statements Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in WRIT Media Group's latest 10-Q filed December 31, 2015. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Pandora Venture Capital Corp., Pelecoin and its related trademarks and names are the property of WRIT Media Group, Inc. and are registered and/or used in the U.S. and countries around the world. All rights reserved. All other trademarks belong to their respective owners. || Bitcoin plunges nearly 25% in 6 days: Heres 3 reasons why: The price of bitcoin (: BTC=) has plunged almost 25 percent since hitting a two-and-a-half year high last week amid problems at a key exchange and diminishing fears of a Brexit. Bitcoin was trading around $590.53 by midday London time, a fall of around 23.8 percent from the $774.94 close on June 17, which marked the highest close since November 22, 2013. The initial rise in the price of the cryptocurrency came last week as traders prepared for a process known as "halving" where the rewards offered to bitcoin miners fall, thus tightening the supply of the digital currency. With anticipation of less supply, prices spiked. But sentiment was dampened when earlier this week, Hong Kong-based bitcoin exchange Bitfinex was closed for a few hours because of "networking issues" in the company's data center, it said on Twitter. The issues were fixed on the same day. Bitcoin insiders said that because of the high leverage people trade the digital currency with, small issues in the market can cause big moves. "The bitcoin price when it goes up is always fuelled by a high leverage, people using margin borrowing money to buy up the price anticipating the block rewarded halving, so the smallest hairline crack can cause a selloff," Bobby Lee, chief executive of BTCC, one of the largest bitcoin exchanges in the world based in China, told CNBC by phone on Thursday. "Bitfinex's website went down and that was a catalyst for people pulling back, cutting positions, locking in gains. There is waterfall effect where then people are selling, selling, selling." At the same time, bitcoin has received some safe-haven bids in recent weeks thanks to uncertainty about which way Britons would vote in the country's referendum on its membership of the European Union (EU), which began on Thursday morning. But opinion polls leading up to the referendum showed a slight bias towards the remain camp winning, helping push financial markets and the sterling higher, but causing a fall in the price of bitcoin. Story continues "I do think it's primarily macro things such as Brexit, you saw the price run up as you saw the opinion polls show leave was winning and as those polls reversed over the weekend, that's when we saw the price reverse" Tom Robinson, co-founder of blockchain start-up Elliptic, told CNBC by phone. Conversely, the threat of a Brexit had an adverse effect on the Chinese yuan, which hit a five-year low last week, was also a reason cited by experts, given China accounts for the large amount of bitcoin trading. "Brexit could be a major factor, but, since the lion's share of bitcoin trading activity occurs in and around China, it's unlikely that this is the primary cause. Although if you look at the bitcoin price among exchanges based in China they are $10-20 lower than the global exchanges, this might reflect the yuan's 5-year low and the expected yuan volatility as a result of Brexit," Aurélien Menant, CEO and co-founder, Gatecoin, a digital currency exchange, wrote in an email to CNBC. Menant added that he expects the volatility "to settle down within the next couple of weeks". More From CNBC Top News and Analysis Latest News Video Personal Finance || Bitcoin Services Inc. Launches bitcoin-basics.com: GRANDVILLE, MI / ACCESSWIRE / July 6, 2016 / Bitcoin Services Inc.(OTC Pink: BTSC) announced today that it launchedbitcoin-basics.com. The website explains the basics of Bitcoin to new users. It will make money from ads and affiliate offers. Bitcoin is a digital asset and a payment system. The system is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a publicly distributed ledger called the blockchain, which uses bitcoin as its unit of account. Since the system works without a central repository or single administrator, the U.S. Treasury categorizes bitcoin as a decentralized virtual currency. Bitcoin is often called the first cryptocurrency.
About Bitcoin Services Inc.:Our business operations are Internet based to the consumer and consist of three separate streams, as follows: (1) bitcoin escrow services, (2) bitcoin mining, and (3) blockchain software development. The principal products and services are the mining of bitcoins, providing escrow services for buyers and sellers of bitcoins, and the development and sale of blockchain software. The market for these services and products is worldwide, and sold and marketed on the Internet.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers and effectively compete against similar companies.
CONTACT:
[email protected]
SOURCE:Bitcoin Services Inc.
[Random Sample of Social Media Buzz (last 60 days)]
#BTA Price: Bittrex 0.00000872 BTC YoBit 0.00000752 BTC Bleutrade 0.00000853 BTC #BTAprice 2016-07-01 23:00 pic.twitter.com/5EwDW8IOsv || $650.00 at 20:45 UTC [24h Range: $625.00 - $739.98 Volume: 31557 BTC] || #BTA Price: Bittrex 0.00000933 BTC YoBit 0.00000800 BTC Bleutrade 0.00000900 BTC #BTAprice 2016-06-17 00:00 pic.twitter.com/HO00Qlrltg || $444.13 #coinbase;
$443.33 #bitstamp;
$443.00 #btce;
$441.65 #bitfinex;
Prices & News: http://bit.ly/1VI6Yse
#bitcoin #btc || 1 KOBO = 0.00001398 BTC
= 0.0090 USD
= 2.5335 NGN
= 0.1325 ZAR
= 0.9099 KES
#Kobocoin 2016-07-08 15:00 pic.twitter.com/m3rAydswQn || 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/ … || [Bitcoin] Bitcoin and United States Dollar: 0.0010 BTC = 0.57 USD
1.00 USD = 0.0017 BTCConverter #YAF || Receive #free #satoshi every hour! 1 #bitcoin is currently at $521.00! http://bit.ly/1qFq3Ox || 1 KOBO = 0.00001038 BTC
= 0.0047 USD
= 0.9352 NGN
= 0.0736 ZAR
= 0.4742 KES
#Kobocoin 2016-05-26 04:00 pic.twitter.com/gsgzy7sCt1 || 3 hours 59 minutes left in Bid period - Price $BCR Bittrex 0.00000144 BTC #fintech #Bitcredit 2016-07-05 16:00 pic.twitter.com/eQnOcDyGLN
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Trend: no change || Prices: 658.08, 663.26, 660.77, 679.46, 673.11, 672.86, 665.68, 665.01, 650.62, 655.56
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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)]
US Citizen Accepting Bitcoin for Narcotics Indicted by DOJ: A U.S. citizen has been indicted for selling drugs on the dark web in exchange for bitcoin.
Joanna De Alba of Tijuana, Mexico, has been arraigned in federal court in Brooklyn, New York, for the illegal sale and disbursement of narcotics, according to a Department of Justice (DOJ)press releaseThursday.
“As alleged, De Alba dispensed heroin and methamphetamine from the shadowy corners of the internet, believing that it provided anonymity to her and her customers,” said DOJ Attorney Richard P. Donoghue. “A bright light has been shined on her activities, and she will now be held to account for her charged criminal acts.”
Related:Alleged BTC-e Operator Alexander Vinnik to Be Extradited to France: Reports
Under the pseudonym “RaptureReloaded,” De Alba allegedly sold narcotics on the dark web marketplace Wall Street Market from June 2018 to May 2019. Customers used encrypted email and bitcoin to purchase drugs from De Alba, who marketed various levels of anonymity for packages sent to the U.S. – such as “Basic Stealth,” “Better Stealth” and “Super Stealth 360,” according to the DOJ.
In a January 2019, an undercover Drug Enforcement Agency (DEA) agent successfully purchased some 40 grams of narcotics from De Alba, receiving a package in Queens, New York, for around $2,000 in bitcoin.
The DEA also intercepted five international packages from the Netherlands and Canada containing narcotics addressed to De Alba’s deceased husband in Southern California. The DOJ alleges De Alba had employed her partner’s identify and credit cards to process transactions since his death in March 2018.
“Anonymity is what drug dealers rely on in the dark web, but this case proves it’s a false security,” said DEA Special Agent-in-Charge Ray Donovan. “Law enforcement is committed to tracking down drug traffickers’ distribution networks everywhere.”
Related:Russia’s Largest Darknet Market Is Hawking an ICO to Fund Global Expansion
If convicted of all counts, De Alba faces between five and 100 years in prison.
• Netherlands Plans to Punish Crypto Scammers With Up to 6 Years in Jail
• Brazilian Police Bust Alleged Crypto Fraud That Cost Investors $360M || Aussie Lessons About Nontransparent ETFs: John Hyland, CFA, is a retired ETF executive and long investment industry professional who has contributed articles to ETF.com in the past. In the very near future, active, non-fully transparent ETFs will begin to be offered to U.S. ETF investors. They are designed to allow a fund manager to offer active management with an ETF without having to release their daily portfolio holdings. Active portfolio managers have been reluctant to offer fully transparent active ETFs out of fears that their trading could be front-run by other market participants. This helps explain why many mutual fund companies have steered away from getting into the ETF space despite the fact that the ETF wrapper is generally both cheaper and more tax efficient for their investors than the traditional mutual fund wrapper. Active Floodgates Given that there is more than $10 trillion in active U.S. mutual funds, the ability for mutual fund companies to now offer the same active portfolio, but in a potentially better wrapper, could quickly lead to tens or hundreds of billions in fund assets to migrate to the ETF side within a few years. This could turn out to be a huge story. As an investor or financial advisor with an interest in these new funds, it is easy to appreciate the value of their being more tax efficient, and perhaps cheaper, than a mutual fund. However, buying any ETF requires an investor to face the cost of trading represented by the bid/ask spread. If you buy a passive ETF in the U.S., the bid/ask spread typically runs from 1 or 2 basis points wide for large, liquid ETFs to 15 basis points or more for the average ETF. For the U.S. ETFs that are active, but still fully transparent, their spreads also run from 1 or 2 basis points to an average of 20 basis points or more. But at what spread will these new style ETFs trade? What Will Bid/Ask Spreads Be? The mutual fund companies getting ready to launch nontransparent ETFs are not likely to publicly venture a guess about bid/ask spreads. In addition, ETF market makerswho likely have already war-gamed the process and know exactly what the spreads are likely to beare a tight-lipped group. Down Under Test Case, Perhaps Fortunately, the U.S. is not the first established ETF market to go the active, nonfully transparent ETF route. The Australian ETF market introduced active, nonfully transparent funds in 2012. While there are some differences between the U.S. and Australian ETF markets, the Australian experience can help still teach us something about what to expect. First, a few caveats. The U.S. has more than 2,300 ETFs, several trillion dollars in assets and trades extremely cheaply. Story continues The Australian ETF market has a little more than 200 ETFs and less than $100 billion in assets. In addition, almost half of their ETFs focus on Australian equities or fixed income. Finally, the average size of an Australian ETF skews fairly small. Spreads Wider Not surprisingly, most ETFs in Australia tend to trade with much wider bid/ask spreads than their U.S. peers. On the other hand, the ETF market makers in Australia are almost the exact same ones who make markets in the U.S. So, by making some adjustments, we may still learn some useful things here. As the table below shows, active, nontransparent ETFs in Australia are found in most ETF categories, although primarily they are found in three main categories (as defined by the Australian Stock Exchange, ASX). Equity & Fixed Income Focus For this next look, we are going to focus just on the equity and fixed income ETFs and ignore cash ETFs, currency ETFs and commodity ETFs. A key takeaway here is not to focus on the absolute spreads of the Australian active, nonfully transparent ETFs. Remember that Australian ETFs in general have much wider spreads than U.S. ETFs, so focus on the difference between the passive ETF and the active ETF. In at least one area, fixed income, there is actually only a modest difference between the passive and the active spreads. This is likely because even if an ETF market maker does not know exactly what a bond ETFs portfolio is today, they certainly knew what was in it the last time the ETF released its quarterly statement 60-90 days ago. And since bond portfolios tend to change only slowly, it is still pretty easy for a market maker to know what to use to hedge their market-making risk. Drilling Down On Equities Now lets take another look at just the equity ETFs. Here we are comparing global equity ETFs versus domestic Australian equity ETFs (we removed all of the Mixed Asset ETFs, as they hold a mixture of Australian and global investments). In addition, we are going to split out the Australian large cap segment. There are no active ETFs reported in that segment, which will allow us to better compare domestic active ETFs to their passive peers. The results are interesting. On a more apple-to-apples basis, the difference between most domestic passive and active ETFs is only about 11 basis points. To put this into dollars and cents, if you had an ETF with a $25 net asset value (NAV) , the passive domestic large cap ETF would be trading about 2 cents wide, the other passive domestic ETFs would be trading about 6 cents wide, and the domestic active ETFs would be trading about 8-9 cents wide. For the global equity products, the gap is wider: 16 basis points. The lower passive global equity number is helped by the presence of several large S&P 500 listings. As a result, the gaponce again, assuming a $25 NAVis between a spread of 4-5 cents for passive versus 8-9 cents for active. Sticky Spreads Analyzing the data from 2012 to the present also produced two other interesting observations that may be seen in the U.S. First, spreads on active, nonfully transparent ETFs have historically proved sticky on the ASX; that is, whatever the spread was the first month or two after listing years ago12 basis points or 30 basis pointsis likely still about the same spread today. There are some exceptions, but generally, time itself does not led to spreads changing. Second, in general increases in assets under management (AUM) in an active ETF seem to have, at best, only a minor impact on spreads over time. An ETF that started with $10 million in AUM that now has, say $100 million, likely still has the same range of spreads. Once again there are exceptions Key Takeaways Getting out my crystal ball, what do I think this all means? Considering that the U.S. markets tend to trade more cheaply than the Australian markets, I would expect U.S. active, non-fully transparent ETFs that own U.S. fixed income to trade only modestly more expensively than similar passive, U.S. fixed income ETFs. For U.S. equity, I would not be surprised if nonfully transparent ETFs that track active portfolios with fairly low turnoversay, annualized turnover of 40% or less (which equates to only 10% a quarter)might only trade a few pennies wider than their fully transparent peers. Keep in mind that, based on the Australian experience, neither time in market nor an increase in one of these ETFs AUM is automatically guaranteed to reduce trading spreads. It may be that the spread you see after the first few weeks is the spread you should assume will be there when you look again a year later. A new chapter of the ETF industry evolution is starting. It will make 2020 an interesting year. John Hyland can be reached at [email protected] Recommended Stories Hot Reads: SEC Rejects Latest Bitcoin ETF Bid E Is For Environmental Know Your Emerging Market Exposure Know Your Emerging Market Exposure Permalink | © Copyright 2020 ETF.com. All rights reserved View comments || ETF Fee War Hits ESG, Active Mgmt: [Editor’s Note: The following originally appeared onFactSet.com.Elisabeth Kashneris director of ETF research and analytics for FactSet.]
The top ETF story of 2019 isn’t nontransparent active, ESG or marijuana. It’s not commission-free trading or the Schwab-TD tie-up.
It’s the relentless demand for super-low-cost ETFs. Investor appetite for ever-cheaper ETFs is driving flows and shaping asset growth. Investors are demanding low-cost funds across every strategy group in equity, fixed income and even commodities. That includes actively managed ETFs, ESG and smart beta. Asset managers are adapting, but are they moving fast enough? Those currently queuing to enter the ETF business should pay close attention to ETF pricing, especially in ESG and active management.
Fee CutsFee compression saves investors money but creates challenges for fund issuers. Compression came by way of fee cuts and via asset transfer to lower-cost products.
2019 fee cuts returned $95 million to investors over the course of the year. Fee cuts outnumbered hikes by a factor of seven. ETF issuers dropped expenses for funds containing 31.5% of assets over the course of 2019. Fee hikes were scarce, covering just 4.1% of ETF assets.
New investors and those who sold expensive ETFs in favor of cheaper alternatives benefited too, as their overall costs dropped. A look at the top ETFs by net flows tells the story. Six of the top 10 ETFs saw a fee drop this past year.
Net Flows: Top 10 ETFs Of 2019
[{"Name": "Vanguard Total Stock Market ETF", "2019 Flows ($B)": "15.68", "Cost 2018": "0.04%", "Cost 2019": "0.03%"}, {"Name": "Vanguard S&P 500 ETF", "2019 Flows ($B)": "12.80", "Cost 2018": "0.04%", "Cost 2019": "0.03%"}, {"Name": "iShares Edge MSCI Min Vol U.S.A. ETF", "2019 Flows ($B)": "12.66", "Cost 2018": "0.15%", "Cost 2019": "0.15%"}, {"Name": "iShares Core MSCI EAFE ETF", "2019 Flows ($B)": "11.38", "Cost 2018": "0.08%", "Cost 2019": "0.07%"}, {"Name": "Vanguard Total International Bond ETF", "2019 Flows ($B)": "11.09", "Cost 2018": "0.11%", "Cost 2019": "0.09%"}, {"Name": "Vanguard Total Bond Market ETF", "2019 Flows ($B)": "9.72", "Cost 2018": "0.05%", "Cost 2019": "0.04%"}, {"Name": "iShares Core U.S. Aggregate Bond ETF", "2019 Flows ($B)": "9.02", "Cost 2018": "0.05%", "Cost 2019": "0.05%"}, {"Name": "iShares Core S&P 500 ETF", "2019 Flows ($B)": "9.00", "Cost 2018": "0.04%", "Cost 2019": "0.04%"}, {"Name": "iShares MBS ETF", "2019 Flows ($B)": "8.30", "Cost 2018": "0.09%", "Cost 2019": "0.06%"}, {"Name": "iShares U.S. Treasury Bond ETF", "2019 Flows ($B)": "8.28", "Cost 2018": "0.15%", "Cost 2019": "0.15%"}]
Source: FactSet
All but two of the top-flows ETFs ended 2019 with expense ratios at 0.10% or lower. Half of them charged 0.05% or less. There’s not much room below that.
Flows Follow FeesBy the end of 2019, the asset-weighted average annual expense ratio for U.S.-listed ETFs was down to 0.20% vs. 0.21% one year prior, and 0.23% in December 2017. At year-end asset levels, that translates to $600 million of investor savings this year.
ETF expense ratios dropped even lower in equity and fixed income funds, as illustrated in the chart below.
To fund issuers, the trends present a challenge. The top asset gatherers of 2019 ended the year with asset-weighted ETF expense ratios of 0.20% (BlackRock/iShares), 0.06% (Vanguard) and 0.08% (Charles Schwab). All three are cheap, but Vanguard and Charles Schwab’s low expense ratios are putting their competitors on the hot seat.
The two charts below tell the story of all six asset managers that captured at least 1% of 2019 net flows, and offers a composite view of the other 122 ETF firms. The first chart compares each firm’s share of 2019 flows to its asset-weighted expense ratio, illustrating investor behavior through an issuer-choice lens.
The second chart shows changes in issuer market share by comparing the percentage of 2019 assets to the year’s flows. In this view, BlackRock’s 0.20% asset-weighted average expense ratio looks less attractive, as the firm held 39% of U.S. ETF assets, but captured only 37% of the 2019 flows. Vanguard and Charles Schwab did the opposite, with 26% and 4% of ETF assets, but 32% and 7% of 2019 flows.
Issuers have adapted to this new ultra-low-fee environment. Some, like the big three, are using their scale to drive efficiencies, offsetting lower margins with higher asset bases. A few target clients with specialized needs offer products that lend themselves to a storyline. Others are taking a niche approach, offering differentiated products at a higher price point.
Cost Pressure EverywhereAs the differentiation approach proliferates, pricing power has become vulnerable. New strategies within a segment are often offered at a relatively high price point at the outset, until competitor ETFs launch. Then, the fee war arrives.
Investors who stuck with plain vanilla equity ETFs, those predominantly broad-based, always cap-weighted stalwarts, saw their fees drop from 0.17% to 0.15% over the past two years. But the more dramatic drops came in other strategy groups. As indicated in the chart below, “smart beta” or strategic funds now cost 0.05% less than then they did at the end of 2017, and active management in an ETF is now more efficient by 0.09%.
Taking a more granular view, we can see the effects of the price war at the strategy level. All 10 of the top equity strategies (by flows) saw their asset-weighted expense ratios fall during 2019, as did eight of the top 10 fixed income strategies.
Hottest Strategies, Cheapest ChoicesInvestors chased savings most dramatically in the hottest corners of the ETF market.
ESG and active management in the equity space hosted riveting fee wars. The case studies presented below can help issuers understand how to price new products and decide when to drop pricing on existing ones. The experience of active managers that are already competing in the ETF marketplace can be informative for those gearing up to launch nontransparent active ETFs.
ESG grew rapidly in 2019, but not all ESG funds thrived. Cost played a huge role, as evidenced by the drop in asset-weighted ESG expense ratios from 0.27% in 2018 to 0.21% in 2019. In the U.S. Total Market segment, 2019’s investors chose among eight broad-based ESG funds, plus one that launched mid-December (excluded from the chart below because of its late launch).
Flows and expenses were nearly perfect inverses. The cheapest ESG ETFs, custom built for a Finnish insurance company, jointly brought in over $3.1 billion, while the most expensive, theSerenityShares Impact ETF (ICAN), closed shop.
Yet the most dramatic ETF expense ratio story of 2019 belongs to actively managed equity funds; specifically, funds with human stock pickers, especially in the U.S. size and style category. The ones that compete outright for investor dollars without a bespoke source of funding had the biggest fee war of all.
The story starts in the U.S. equity asset class, where nontransparent active ETFs are now allowed to operate. Ninety-six ETFs with active-specific SEC exemptive relief were available during 2019. But not all of these funds have stock pickers at the helm. Some are rules-following funds that, for technical reasons—such as derivative use or implementation of nonindexed AI—need to register as active with the SEC.
Fifty-five of the 96 are truly active funds, the ones for which humans make material buy-and-sell decisions. Fifty of these focus on the size and style category—large, mid, small and total market; value, growth and core. The other five are sector funds; three have no competition from other active managers, while two compete in the MLP space.
The playing field for the 50 funds is not level. Some, like theAptus Collared Income Opportunity ETF (ACIO), have bespoke funding sources for the majority of their assets, while others like thePacific Global U.S. Equity Income ETF (USDY)have no such advantage.
text
The no-advantage funds were the battleground for the fiercest fee fight in 2019. While the 50 stock picker funds with inflows had just a 0.09% differential in weighted average management fee between those with outflows (0.60%) and those with inflows (0.51%), the no-advantage funds had a 0.16% gap, as the funds with inflows charged 0.43% in asset-weighted management fees, and those that lost assets charged 0.59%. These figures may change as year-end 13-F reports become available, allowing for additional identification of bespoke funds.
Here is how the truly active U.S. size and style fee war looked for both bespoke and no-advantage ETFs, based on 13-F reports as of Sept. 30, 2019:
Ignore Cost At Your PerilThe market has spoken. Asset managers hoping to launch new actively managed funds in the U.S. size and style segments should take note. Those with dedicated funding sources might get away with charging 0.50% in management fees, but those without had best come in at 0.40% or lower if they hope to gather assets.
While actively managed ETFs do command a premium over their passive segment counterparts, investors are cost-conscious in all asset classes, segments and strategies. While the broad vanilla funds grab the headlines, the fee war rages everywhere in ETF land.
After all, theVanguard Total Stock Market ETF (VTI)investors are now paying just 0.03% for exposure to 99% of the U.S. stock market. VTI, combined with the fourth-most-popular fund, theiShares Core MSCI EAFE ETF (EFA)and 2019’s two hottest bond funds, theVanguard Total Bond Market ETF (BND)and theVanguard Total International Bond ETF (BNDX), form a portfolio containing just about all the stocks and investment-grade bonds in the world—all this at a total cost below 0.05%.
Investors had every reason to celebrate 2019’s cost savings. Whether sticking with the cheapest broad vanilla funds or allocating to pricier strategies like “smart beta” and active management, ETF holders lowered their investment costs and raised their chances of meeting their financial goals. Issuers were kept on their toes. 2020 is shaping up to be mighty interesting.
At the time of writing, the author held no positions in the securities mentioned.Elisabeth Kashneris director of ETF research and analytics for FactSet. Check out Elisabeth Kashner’s new e-book, “Uncover The Key To ETF Tax Efficiency.”
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Permalink| © Copyright 2020ETF.com.All rights reserved || Australian Regulator Gives Green Light to App-Based Retail Bitcoin Fund: Australia’s finance watchdog has given the go-ahead to a bitcoin fund aimed at retail investors.
The first such fund in the country, the bitcoin offering is being launched by micro-investment app provider Raiz Invest Australia,reportsThe Australian Financial Review.
The Raiz app allows users to invest the small change left over from everyday purchases in exchange-traded funds quoted on the Australian Securities Exchange (ASX). Once live (expected sometime in H1 2020), the bitcoin option will still see the bulk of user funds go to ETFs, but 5 percent will be allocated to the cryptocurrency, according to the report.
Related:Crypto Dealer SFOX Adds New Service for Fund Managers to Invest in Digital Assets
Raiz was granted relief to operate the fund from the Australian Securities and Investments Commission, which also has oversight over the crypto industry in the country.
The Raiz app is said to have had over 600,000 users and revenue of over A$3 million (US$2.06 million) in 2019, according toWikipedia.
ASX-listed DigitalXalso offersa bitcoin fund in Australia, however, that’s aimed at professional investors. The firm seeded the fund with half its bitcoin holdings, DigitalX announced at the launch in November 2019.
• Kraken Acquires One of Australia’s Longest-Running Crypto Exchanges
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• Australians Won’t Use Libra, Believes Central Bank || Blockchain Association Sides With Telegram Against SEC, Says Grams Are Not Securities: The Blockchain Association, a U.S. advocacy group uniting the industry’s leading startups including Coinbase, Circle, 0x, Ripple and others, has filed an amicus curiae brief in the ongoing SEC vs. Telegram case.
It’s the second industry’s motion in as many days to support Telegram’s fight against the SEC allegation it violated U.S. securities law by selling future tokens (called grams) for its TON blockchain to accredited investors in the U.S.
On Tuesday, the Chamber of Digital Commercefiledits own amicus brief, supporting Telegram’s argument that “digital assets may be the subject of an investment contract without being a security.” The Chamber, however, did not explicitly ask the court to take either side in this litigation.
Related:SEC Charges Blockchain Marketplace Opporty Over ‘Fraudulent’ $600,000 ICO
TheBlockchain Association’s briefstrikes a more straightforward note, arguing Telegram made sufficient efforts to meet the SEC’s criteria, adding that the regulator’s court action could harm both Telegram’s investors and the market in general.
“The Court should not block a long-planned, highly anticipated product launch by interfering with a contract between sophisticated private parties. Doing so would needlessly harm the investors that securities laws were designed to protect,” the association says in its brief.
Repeating long-held concerns that blockchain and cryptocurrency companies have not received clear and unambiguous guidance from the SEC for years, the brief argues the agency’s litigation against Telegram makes the situation even more gray:
“The SEC’s lawsuit also raises novel questions regarding whether companies are forbidden from raising funds from sophisticated U.S. investors, under well-established regulatory provisions, to build blockchain networks.”
Related:Digital Chamber Asks Court to Draw Line Between Investment Contracts and Assets in Telegram Case
The advocacy group cites other cases of blockchain startups successfully interacting with the regulator, namelyTurnKey JetandPocketful of Quarters, which both secured no-action letters from the SEC. Kik is also mentioned, a firm stillhopingfor a court trial on its famous case.
“Engaging with the SEC is extremely costly” and doesn’t necessarily save companies from future actions, the brief argues.
“Telegram discussed its plans with SEC staff for a year and a half, provided copious information and responded to limited feedback by adjusting the design of its transaction. Yet, at the end, the SEC has sued, and the SEC’s briefs thus far say nothing about the substance of those discussions,” the association says.
Forcing Telegram to cancel the launch of TON and the token issuance will ultimately harm both innovators and investors who invested in grams, the brief continues: “It would frustrate the investors’ aims in entering into the Purchase Agreement, and would frustrate innovation by delaying the network launch.”
The association concludes by asking the court to “reject the SEC’s arguments that the not-yet-in-existence Grams were securities at the time of the Purchase Agreements.”
The first court hearing for the case is scheduled for February 18.
• Grayscale’s Bitcoin Trust Is Now Open to More Investors as SEC Reporting Company
• SEC: Cash-Strapped Telegram Launched 2018 Token Sale to Pay for Servers || Podcast: What are the new tax changes for this year?: listen on Apple Podcasts | Spotify Listen to Taxes Made Simple by Yahoo Finance and TurboTax to get help in filing your taxes this year. Transcript below Janna Herron: This is Taxes Made Simple by Yahoo Finance and TurboTax. I'm Janna Herron. So what are the new tax changes for this year? We know that last year there were a lot of big changes, but that doesn't mean everything's the same this year. There were a handful of changes I think people need to know about. Let's start with actually filing your taxes. You could always file your taxes for free by law, especially if you didn't have a very complicated tax return. This year, the IRS has stipulated that it should be easier and has actually created a website where you could go click on the free file and it would take you to one of the programs at TurboTax where you can file your taxes for free. Now not everybody can file their taxes for free. It depends on how complicated your taxes are. For many, many Americans, their tax returns are pretty simple. If you're only depending on a W2 to fill out your tax return, or maybe you have a few 1099's, those things are very easy and you probably should qualify for the free file. Another interesting change this year is the IRS is really, really interested in if you invested in cryptocurrency, such as Bitcoin. This year, the IRS is going to actually ask if at any time during 2019 did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency. So that might be a surprise for crypto investors out there. The reason behind it is that the IRS doesn't have good tracking on transactions that have to do with cryptocurrency. Usually, when you trade a stock, you sell a stock, you buy a stock, your brokerage account will send that information to the IRS and you will get a 1099 form to use to fill out your tax returns. When it comes to crypto, it's not nearly as sophisticated. A lot of the virtual currency exchange platforms don't generate those forms. So the IRS has been in the dark for a long time when it comes to cryptocurrency, so that's a big change. Story continues There are some other things you should know about. If you got divorced last year, the way alimony or spousal support is considered by the IRS has changed. You no longer have to claim spousal support as income if you receive it from your ex-spouse. And if you're the one paying alimony, you can no longer deduct that amount from your taxes. So it's better if you are the one receiving the alimony than the one paying the alimony when it comes to this change. There's a new change with medical expenses. If you're trying to deduct your medical expenses, it's a little bit harder this year, so your total health expenses in 2019 must be greater than 10% of your adjusted gross income for them to be deductible. Before that, the threshold was 7.5%, so it was easier to get above that threshold. Another change having to do with health insurance, if you didn't have health insurance last year, you don't have to pay a tax penalty. Before, under the Affordable Care Act. If you didn't have health insurance during the year for a certain amount of time, you would have to pay a penalty. But the new tax law that went into effect in 2017 eliminated that penalty starting last year. The standard deduction also went up from last year to account for inflation. Now it's $12,200 for single taxpayers, $24,400 for married couples filing jointly and $18,350 for heads of household. If you do your taxes and you're really upset with how they turn out this year, say you got a really tiny refund when you wanted a bigger one, or even worse, you owe Uncle Sam some money and you don't want to do that next year, what you're going to need to do is adjust your paycheck withholdings. If you do that, you'll see that there is a new form for the paycheck withholdings, so that will be new to you. Because it's new, it's going to be a little bit more difficult, but once you've done it and gotten the hang of it, it's actually pretty simple. My advice is to have your tax return handy so that you can plug in the numbers that the withholding form is going to ask for so that it can give you a very accurate reading on what you should withhold from each paycheck going forward. The IRS also has a paycheck withholding estimator, and what's really great about this calculator is that if you want to get a $5,000 refund, you can enter that and it will how to calculate what amount needs to be withheld from each paycheck so that you get that refund next year. And that's it for new changes this year for taxes. This is Taxes Made Simple from Yahoo Finance and TurboTax. Please head over to Apple Podcasts and leave a five-star rating and review there. Until next time, thanks for listening. listen on Apple Podcasts | Spotify || MARKETS DAILY: Are Governments Feeling the FOMO?: With bitcoin setting a blistering pace for 2020, Markets Daily is back with the news moving markets, plus a look at several stories on the escalating, global interest in blockchain by governments.
No time to listen? scroll down for the complete episode transcript…
Tune in as CoinDesk podcasts editor Adam B. Levine and senior markets reporter Brad Keoun run down recent action, track interesting longer-term trends and highlight some of the most important crypto industry developments of the day.
Related:Taking the TON Out of Telegram
In this episode:
• Crypto Markets, Industry and International News Roundup
• Three stories from around the world covering events inIndia,South KoreaandVirginia
• The cost of compliance in theongoing bull market in cryptocurrency exchange subpoenas
More ways to Listen or Subscribe:
Transcript:
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Adam B. Levine:On today’s episode, Bitcoin’s Continued Climb, More Government Indicators and The 2019 bull market for law enforcement inquiries?
Adam B. Levine:It’sJANUARY 7, 2020, 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.
Adam:First, we turn to the daily bitcoin market briefing and important news affecting the crypto industry.
Brad Keoun:Bitcoin up for the fifth straight day, with the price increasing to $7864, the highest in six weeks, in a pretty dramatic start to 2020.
CoinDesk’s Omkar Godbole writes that the rally appears to be running out of steam for now, hitting resistance at the 100-day moving average of $7,945.
Technical indicators, though, are currently suggesting that prices are more likely to go higher than lower.
Adam:Turning to the news, the International Monetary Fund’s Chief Economist predicts that digital currencies are not about to challenge the U.S. dollar’s pivotal role in global trade.
In an op-ed for theFinancial Timeson Tuesday, Gita Gopinath wrote that although cryptocurrencies present “intriguing possibilities,” they lack the infrastructure and global acceptance needed to supplant the dollar as the preeminent global reserve currency.
“The dollar’s status is bolstered by the institutions, rule of law, and credible investor protection that the U.S. is seen as providing.”
Brad:The messaging-app company Telegram says in a new web post that it won’t integrate a crypto wallet into its system until it gets the green light to do so from U.S. regulators, in a reversal from the company’s stated plan as recently as October.
The announcement is notable partly because it signals a more contrite or at least compliant stance as the company fights a court battle with the Securities and Exchange Commission related to its $1.7 billion capital raise in 2018, which the U.S. regulator has characterized as an unauthorized securities offering.
Notably, Telegram emphasizes in the post that its proposed Gram tokens are NOT investment products; the company capitalized the word NOT.
Telegram’s CEO, Pavel Durov, is reportedly set to be deposed in the case today in Dubai.
Adam:And in China, the search engine company Baidu on Monday launched a blockchain-based service for developers to build decentralized applications, known as dapps.
The new service aims to make it cheaper for customers to develop applications since they won’t have to build their own blockchain platforms.
The move comes just months after Chinese President (She) Xi Jinping announced that the country plans to prioritize blockchain as a core technology and encourage its use by small businessesthroughout the country.
Brad:And IBM, the computer maker, is launching a new app that uses blockchain to allow consumers interested in sustainability to trace the coffee they buy along the supply chain.
The new “Thank My Farmer” app will allow consumers to track their morning joe from the store where they buy it back to the farm where it was grown.
Consumers scan QR codes on the side of the coffee jar to look at the origins of their purchase, linking back to information stored on the blockchain, and they can even choose to make additional payments to the farmers who grew the beans.
Instead of tipping the barista, Adam, it’s like an extra little something for the person who cultivated your beans.
Adam:Turning to today’s featured story, this morning we’re tracking several threads from around the world which seem to indicate a growing drumbeat of national interest in blockchains, including some places you might not expect.
First, we turn to the southwestern coast of India, in the state of Kerala (KERR-uh-luh), where the Economic Times of India reports on comments from the State Electronics and IT Secretary:
“We are looking for intelligent use of blockchain in specific domains in the next five years so that its applications can be sustained. Companies that produce solutions based on the technology can sell it as products or services,” The secretary, told the Economic Times. He foresees the state as a talent hub for blockchain experts through the government initiative of Kerala Blockchain Academy, which was started in 2017. The idea is to train 20,000 people in blockchain development over the next two years. “Around 2,000 of them have gone for the next level in the blockchain developer programme and 800 have graduated,” he said.
“The state’s strength in blockchain will be an incentive to attract the right companies that will trigger the ecosystem.” The state government is also trying to implement pilot schemes like using blockchain in land records, managing workforce, organic food traceability and immunization programs.
Meanwhile, in South Korea, CoinDesk’s Daniel Palmer recently reported on a proposed embrace of blockchain, at least so it can be locally regulated, by the Presidential Committee on the Fourth Industrial Revolution.
QUOTE
Financial institutions should be allowed to offer cryptocurrency products such as derivatives, according to a government advisory body in South Korea.
To support such a move, the nation’s fintech sector should develop custody solutions for cryptocurrency to avoid a reliance on foreign custodians, said the committee.
The committee said the government could follow the lead of U.S. regulators and sanction products such as futures contracts tied to bitcoin. Institutions would also be allowed to offer other cryptocurrency services such as trading.
With cryptocurrency trading surging worldwide, “it is no longer possible to stop crypto-asset trade,” said the committee, according to a report fromBusiness Koreaon Monday.
Other suggestions from the PCFIR included, notably, that bitcoin might be directly listed on Korea Exchange, the nation’s stock market.
Finally, we return to U.S. shores where the Virginia state legislature is tomorrow set to offer House Joint Resolution 23.
Quoting from the Virginia Legislature’s website, this resolution “Requests the Department of Elections to conduct a study to (i) determine the kinds of blockchain technology that could be used to secure voter records and election results, (ii) determine the costs and benefits of using such technology as compared to traditional registration and election security measures, and (iii) make recommendations on whether and how to implement blockchain technology in practices affecting the security of voter records and election results.”
If passed by the legislative body, we’d expect to see the first report by Nov. 30, 2020, and potentially a second, more in-depth report a year after that.
Now, is voting on the blockchain a good idea? Personally, I have some doubts. But it’s another example of the cycle of adoption repeating, and while those of us who have been paying attention since the beginning of crypto might want things to hurry up, this is in fact the natural way that people learn about new and unfamiliar technologies.
Adam:And now, for today’s spotlight, we’re looking at one cryptocurrency exchange’s costs of running a marketplace – in a fast-growing business that’s been known since its earliest days as a place where it’s not uncommon to see the movement of funds with dubious origins.
Brad:That’s right Adam, today we’re highlighting an annual report published by the San Francisco-based exchange Kraken.
It’s the 2019 Transparency Report, detailing the exchange’s efforts to comply, or in some cases not comply, with requests from law enforcement agencies for information related to allegedly suspicious activity.
A couple of the takeaways here are, one, just how quickly the number of requests are increasing, perhaps an indication of how quickly the crypto markets, and in particular Kraken’s business, is growing.
But also, this just highlights the very real costs of responding to and complying with all these requests from law enforcement agencies that might be following up on tips or other leads in their efforts to solve crimes or stop money-laundering.
According to the report, there was a roughly 49 percent increase last year in global law enforcement requests from 2018 levels.
Total requests rose to 710, from 475 in 2018 and 160 in 2017
Included some 406 subpoenas,
62 percent of requests resulted in data provided
28 percent of requests were non-valid, meaning the request did not meet local legal requirements and/or the company’s internal law enforcement production policy
Geographic distribution – some 432 from the U.S., 86 from Great Britain, with most of the remainder coming from other European countries
Majority of U.S. requests came from FBI, followed by the DEA and Homeland Security/Immigrations Customs Enforcement
CEO Jesse Powell tweeted that the cost to service the requests was more than $1 million, “substantially beyond the work of one paralegal.”
Powell said that several things contribute to the cost, including that Kraken is an older business with eight-plus years of data, millions of accounts, and high security around accessibility of personal data.
Another issue is that requests are handled in high wage markets rather than exported/outsourced to low wage markets. It could probably be 1/10 the price if we eliminated all concern for security/privacy.
It’s important to note here that as this industry evolves, that some of these exchanges are choosing to publicly promote their efforts to comply with law enforcement, potentially calculating that the lion’s share of institutional investors who want to enter the crypto markets will want to deal with exchanges that aim to be squeaky clean and in full compliance with domestic and international authorities.
Adam:Join us again on Wednesday for the next Markets Daily from CoinDesk. 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].
• YouTube, Tron and the Dream of Decentralization
• MARKETS DAILY: Bitcoin Bouncing After US Airstrike in Iraq || Bitcoin SV spikes more than 95% to become fifth largest cryptocurrency: In the last few hours, Bitcoin SV (BSV) pumped to its all-time highest value, briefly reaching as high as $339.95 before cooling off somewhat to reach its current value of $320—still more than 30% higher than its previous all-time high.
The cryptocurrency has added a total of $2.5 billion to its market capitalization in the last 24 hours, after gaining over 95% in this time. With that said, BSV's price action appears to be rapidly changing, and a significant chunk of this growth was achieved in the last hour.
At its current value,Bitcoin SVis just inches away from knocking Bitcoin Cash (BCH) out of its slot as the fourth-largest cryptocurrency by market capitalization. Nonetheless, Bitcoin SV has already jumped several places today, and recently eclipsed Tether (USDT) to become the fifth-largest cryptocurrency by market cap.
This recent development comes just a day after it was revealed that Craig Wright, a staunch supporter of Bitcoin SV, would be getting more time to provide evidence of his $10 billion bitcoin fortune. Now, Wright has until February 3, 2020, to produce the private keys necessary to settle the legal dispute with the Kleiman estate—which has dragged on for more than a year.
Should Craig Wright successfully provide the private keys to the Tulip Trust, this could add serious weight to his claim to be Bitcoin's infamous founder Satoshi Nakamoto—an accolade that could cost him half his fortune. || Craig Wright private key delivered, claims to prove Bitcoin holdings: Craig Wright’s lawyers have informed the United States District Court of the Southern District of Florida that a third party has provided the necessary private key to unlock the encrypted file that contains a list of his Bitcoin holdings. The file has been presented to the court via a notice of compliance from Wright’s lawyers. The proof of Wright’s holdings has also been delivered to the plaintiff, Ira Kleiman, who is representing the Kleiman estate. Kleiman vs Wright Dr Wright, an Australian cybersecurity researcher living in London, is the defendant in a lengthy legal dispute with representatives of the late Dave Kleiman. The pair are thought to have jointly played a significant role in the early creation of the Bitcoin protocol. Acting on behalf of Kleiman’s estate, the plaintiffs allege that a significant sum of BTC was misappropriated by Wright after Kleiman’s death . Wright claimed that he could only access the disputed funds once the ‘Tulip Trust’ that protected them had expired – which happened at the beginning of 2020. However, he has so far only produced the encryption key which unlocks a list of total Bitcoin holdings and has not provided the private keys necessary to access the funds themselves. As a result, the pressure is still on Wright to deliver the final private keys, which he claims will arrive by “bonded courier” before February 3. February 3 deadline Wright has until February 3 to prove he has access to the Bitcoin wallets. Court filings from January 10 show that Wright was given an extension to an earlier ruling which would have seen him forfeit 500,000 Bitcoin, worth around $4 billion, to the Kleiman estate. Wright claims that if he can prove he has the private keys, then his pivotal role in creating the original Bitcoin protocol will be proven beyond reasonable doubt. Kleiman worked alongside Wright in the early days of the Bitcoin protocol’s creation, and many industry experts believe that Kleiman was in fact the mysterious Satoshi Nakamoto. Story continues However, Kleiman’s death in 2013 saw Wright claim to be the creator of the protocol. Kleiman’s surviving family claim that Wright misappropriated funds from his late business partner, and now seek restitution of the full 1.1 million BTC. You can read more about the Kleiman vs Wright case here . The post Craig Wright private key delivered, claims to prove Bitcoin holdings appeared first on Coin Rivet . || The Crypto Daily – Movers and Shakers – 23/02/20: Bitcoin fell by 0.31% on Saturday. Partially reversing a 0.87% gain from Friday, Bitcoin ended the day at $9,663.0. A bearish start to the day saw Bitcoin slide from an early intraday high $9,719.9 to a mid-morning intraday low $9,565.1. Steering clear of the major resistance levels, Bitcoin fell through the first major support level at $9,586.37. Finding support through the rest of the day, however, Bitcoin bounced back to $9,700 levels before easing back at the day end. The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, with Bitcoin struggling to break out from $10,000 levels. For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend. The Rest of the Pack Across the rest of the top 10 cryptos, it was another mixed day for the crypto majors. Tezos led the way down on Saturday, sliding by 5.11%. Bitcoin Cash ABC (-1.59%), Bitcoin Cash SV (-3.29%), Ethereum (-1.40%), Monero’s XMR (-1.62%), and Stellar’s Lumen (-1.53%) also saw relatively heavy losses. Binance Coin (-0.99%), Cardano’s ADA (-0.61%), and Tron’s TRX (-0.41%) saw modest losses on the day. EOS (+1.80%), Litecoin (+1.99%), and Ripple’s XRP (+0.36%) bucked the trend on the day. Through the current week, the crypto total market cap fell to a low $273.33bn before hitting a Thursday high $297.79bn. On Thursday, the market cap fell back to sub-$275bn levels before support kicked in. At the time of writing, the total market cap stood at $282.49bn. Bitcoin’s dominance held steady late in the week. At the time of writing, Bitcoin’s dominance stood at 62.8%, up from a current week low 62.02% from Wednesday. Trading volumes continued to ease back from $196bn levels seen on Monday. At the time of writing, 24-hr volumes stood at $126.13bn. This Morning At the time of writing, Bitcoin was up by 1.42% to $9,799.9. A bullish start to the day saw Bitcoin rise from an early morning low $9,660.0 to a high $9,824.5. Story continues Steering clear of the major support levels, Bitcoin broke through the first major resistance level at $9,732.97 and second major resistance level at $9,802.93. Elsewhere, it’s been a bullish start to the day for the majors. Tezos led the way early on, rallying by 4.60%, with Tron’s TRX up by 3.26% For the Bitcoin Day Ahead Bitcoin would need to move back through to $9,800 levels to bring the third major resistance level at $9,956.83 back into play. Support from the broader market would be needed, however, for Bitcoin to break out from the second major resistance level. Barring an extended crypto rally, the second major resistance level at $9,802.93 would likely continue to cap any upside. In the event of another breakout, Bitcoin could eye a return to $10,000 levels. Failure to move back through to $9,800 levels could see Bitcoin fall hit reverse. A fall through the morning low $9,660.0 would bring the first major support level at $9,579.07 into play. Barring a crypto sell-off, Bitcoin should steer clear of sub-$9,500 and the second major support level at $9,495.13. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas (NG) Futures Technical Analysis – Weakens Under $1.926, Strengthens Over $1.949 E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Next Downside Target Zone 9344.25 to 9245.50 S&P 500 Weekly Price Forecast – Stock Market Prints Negative Candle The Weekly Wrap – U.S PMIs and the Coronavirus Drive Risk Aversion USD/JPY Fundamental Daily Forecast – Coronavirus Driving Japan’s Economy to Recession Natural Gas Price Prediction – Prices Slip but Close up Nearly 4% for the Week
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 9650.17, 9341.71, 8820.52, 8784.49, 8672.46, 8599.51, 8562.45, 8869.67, 8787.79, 8755.25
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-12-07]
BTC Price: 19191.63, BTC RSI: 61.43
Gold Price: 1861.80, Gold RSI: 51.87
Oil Price: 45.76, Oil RSI: 65.19
[Random Sample of News (last 60 days)]
Money Reimagined: Bitcoin vs. Gold Is a Battle of Narratives: One reason I feel privileged to write about digital money is the ideas and technologies it seeks to disrupt aren’t just a few years or decades old. They date back centuries, even millennia.
Like gold, for example.
Asbitcoin’sprice has soared to new all-time highs and a parade of big-name investment professionals such asBlackRock CEO Larry Finkand hedge fund legendStanley Druckenmillerhave talked up its prospects as a provably scarce store-of-value, a war of words has sprung up between gold bugs and bitcoin fans.
Related:The Fiat Standard and Debt Slavery
Peter Schiff, one of the loudest proponents of gold as both a store-of-value investment and as a global standard for backing currencies, has been especially triggered. This past week saw a flurry of tweets from Schiff,labeling bitcoin a speculativeinstrument that lacks gold’s physical safe haven properties andcomplaining about the lack of airtimegiven to gold advocates versus bitcoiners. (Check the replies for colorful responses from bitcoin fans.)
This fight reflects something much bigger than a Twitter troll spat. It stems from an audacious effort by the crypto community to rewrite an ancient narrative.
Ultimately, winning the narrative is what will matter in this competition. As we’vediscussed before, a currency can have a host of worthy properties, but if there’s nobeliefin it, if the story doesn’t resonate, it won’t be accepted as money among a community of users.
Gold’s proponents frequently mention the qualities that make it a sound store-of-value with which to hedge against fiat currency debasement. Let’s run through them:
Related:Blockchain Bites: Price Point! Bitcoin at $50K? $60K? $318K?
It’sdurable. Gold can’t be destroyed.
It’sfungible. In its pure state, bullion holds the same value regardless of which bar you have in your hand, enabling its acceptance as both a medium of exchange and store-of-value.
It’sdivisible. After smelting, gold can be broken down into coins and ingots of any size.
It’sportable.Within limits, you can transport gold from one place to another.
And most important, it’sscarce. Setting aside the future viability or otherwise ofasteroid mining, the slow and expensive pace at which the world’s known gold reserves can be extracted means that, unlike fiat paper currencies, its supply can’t be expanded at will.
Note, these properties are also ascribed to bitcoin – rightly, in my mind, and with a superiority to gold. (Bitcoin is certainly more portable and more easily divisible, and its scarcity is arguably more reliable.)
But while durability, fungibility, divisibility, portability and scarcity are necessary preconditions for sound, non-fiat money, they’re not enough on their own. There are other precious metals, such as silver and platinum, with similar qualities. And there are altcoins literally built from the same code as bitcoin. What ultimately distinguishes both gold and bitcoin from their competitors is the wide collective belief in their shared value.
For gold, this belief is not only widely held. It runs deep. Very deep.
Gold is the stuff of fairy tales such as the one about King Midas. It powered the conquest of the Americas, encapsulated in the search forEl Dorado. It became synonymous with wealth and power.
And with beauty – to the point where we talk of gold’s beauty as if it’s innate or intrinsic. But beauty is culturally constructed. While evidence suggests gold’s use in jewelry preceded its use as money, there’s a circular, reinforcing logic to the aesthetic idea. Centuries of associating gold with wealth and power elevated its beauty in our minds.
In other words, there’s a powerful feedback loop arising from the “all that glitters is gold” story. It reinforces its cultural power – an ephemeral, intangible concept that’s actually more important than those five aforementioned physical qualities in giving gold its longstanding status as a universal store-of-value.
So, as you can tell, those driving the bitcoin narrative face a daunting competitor, a phenomenon with millennia-old cultural heft.
Yet, this moment feels ripe for a new story. We’ve entered a digital age, where the physical world is increasingly shaped and managed by a separate computing world. That world needs a “digital gold,” not a physical gold.
And it turns out the way to create that digital gold is by combining the power of math – another ancient, all-powerful human invention that rules how we live – with the power of collective human activity. That combination is what makes the bitcoin story so compelling.
At its essence, the proof-of-work consensus model (which lets us trust the transactions recorded in bitcoin’s distributed blockchain ledger) hinges on the fact that it’s mathematically really, really hard to find a randomly chosen number within a data set comprising quadrillions of other numbers. There’s something quite universal – literally, of the universe – in that.
But bitcoin’s claim to provable scarcity, which is fundamental to the store-of-value narrative that institutional investor big shots are now globbing onto, depends on more than its math – which, after all, can be and has been replicated in altcoin forks of the code. It also stems from mass human engagement and investment (of time, money and energy).
Bitcoin’s predictably scarce money supply depends on it being prohibitively expensive for anyone to take control of the network and on there being a sufficiently large, committed, international pool of developers working on keeping its code secure.
That’s where the widening resonance of the narrative becomes self-fulfilling. As more and more people believe in bitcoin, more and more will invest in it, which makes it increasingly expensive to attack it. Meanwhile, wider belief means more and more developers care about protecting bitcoin’s value. Both factors make it increasingly secure, which in turn increasingly strengthens its scarcity claim.
To me, this is what makes the bitcoin story more appealing than that of gold. Rather than stories of kings and conquest, it’s about human engagement under the governance of universal mathematical principles.
This epic narrative battle has a long way to go. I look forward to chronicling its development.
Speaking of gold, this chart in astory by financial news outlet Finboldjumped out at me. From a survey of the 12 largest economies in the world, Finbold found the central banks of U.S., China, Russia and India had accumulated a whopping 208.34 tons of gold between March and early-December this year. Their combined tally dwarfs an aggregate liquidation of 12.78 tons by the eight other countries in that list. It’s not clear where Finbold got its data from and it should be noted that central bank gold reserve information is notoriously difficult to confirm. But with that caveat in mind, the numbers are worth exploring.
Why the big buildup in gold holdings by these four countries since the COVID-19 pandemic became a global crisis? The natural answer is that, like people, governments see gold as a hedge against economic and monetary stress, and the crisis has elevated the risk of that. But thinking about the four countries’ individually offers some other hypotheses.
The U.S. and Indian numbers are somewhat self-explanatory. For the U.S. Federal Reserve, its massive mid-pandemic monetary expansion necessarily required the buildup of a giant balance sheet of financial assets, of which gold was a part. And India, mostly for cultural reasons, has always been a giant gold buyer, so these numbers are perhaps just an extension of that.
The Chinese and Russian stories are potentially more interesting. Typically, these two countries buy dollars, held in U.S. government Treasury bonds, as their reserve asset. That they’re also accumulating gold could point to something of a loss of confidence in the dollar. More important, the question is what they might do with that gold in the future.
And that’s where an insight from Jennifer Zhu Scott, executive chairman of The Commons Project, makes this interesting. Speaking during arecent Money Reimagined podcast episode, she noted that although it’s clear that China has been growing its gold reserves significantly, no one knows for sure how much it holds. That, she speculates, could put China in a powerful position to give the digital yuan clout in the international marketplace.
“When the digital [renminbi]is launched, China doesn’t even need to say this is backed by gold. China might just make an announcement saying ‘Oh, by the way, our real gold reserve is actually 4,000 tons.’” (According to Finbold, China’s total holdings currently stand at 2,196 tons.) That would give the new digital currency a solid basis, which may encourage other countries to use it. At the same moment, it would allow China to avoid the volatility it would otherwise face when it ends capital controls, a step it must take if it is to achieve wider international usage of the yuan.
What about Russia? Well, like China, one of the reasons it is thought to be keen on creating a digital currency is to have a mechanism by which it can reduce its dependence on the dollar – in its case, to achieve the explicitly expressed goal ofavoiding U.S. sanctions. A hefty gold reserve might also help it do that.
The bigger question, as per the column above, is whether these countries will eventually be better off accumulating bitcoin, rather than gold, as the backstop to their currencies.
THUMBS DOWN.Acolumn by Sarah Frierin Bloomberg’s daily “Fully Charged” newsletter this week highlighted the excessive power Facebook wields over advertisers and the audiences they seek. Small businesses that have become dependent on Facebook ads for lead generation are now frustrated to find themselves in “Facebook jail” – locked out of the platform by an algorithm that’s supposed to police inappropriate content across its 3 billion users. The problem, Frier writes, is that “tiny glitches or misfires of this system can take down innocent users, who then have to hope a real human sees the mistake and resolves it. That’s a process that can take days, if it happens at all.”
The article is another example of the growing recognition that big centralized Internet platforms such as Google and Facebook have de facto monopoly powers that can harm the economy, a mindset that is feeding into the increased risk of antitrust action against them. As Frier writes, “For a company that’s fervently trying to convince lawmakers it’s not a monopoly, some advice: It’s usually a bad thing when an entire sector of the economy is dependent on your service in order to survive.”
What’s still missing from the mainstream conversation about these problems is a discussion of how more decentralized models of media control might better address them. Whether it’s a blockchain solution or something else, we need to recognize that the centralized architecture of internet platforms is the root of their gatekeeping powers. Whatever the solution, that context is vital for how society thinks about a redesign of the social media and digital content industry.
STABLECARD.The expansion of stablecoin payments was given another boost this week when Forbes’ Michael Del Castilloran a storysaying card network Visa would give its 60 million merchants worldwide access toUSDC, the stablecoin token developed by Circle Internet Financial and CoinBase. What’s interesting about that is USDC, as a bearer token, can move across borders from one party to another without the need for an intermediary. What it didn’t have was the network of users Visa offers. This looks like a solution for moving money internationally without using correspondent banks and the SWIFT messaging system. Another step toward disintermediated global finance.
BTC YIELD.Dan Held, who heads up growth at crypto exchange Kraken, has done a favor for everyone interested in turning their otherwise static bitcoin into an interest-earning asset. There are a host of ways to earn yield on your bitcoin these days and Held, who has been experimenting with them over much of the past year, created a summary of experiences and results in auseful tweet thread.
What I find interesting is that Held’s thread gives you a sense of the DIY nature of an emerging, decentralized financial system. In this system, bitcoin becomes a universal reserve asset, a form of collateral against which loans and speculative positions form.
Note: Interest payments in bitcoin markets are mostly derived by speculators, who borrow bitcoin from entities such as BlockFi to place short-selling bets. One way they do so, as Held points out, is to play the arbitrage between spot market prices and those quoted on derivative assets such as the CME bitcoin futures of the Grayscale Bitcoin Trust, or GBTC. (Grayscale is owned by Digital Currency Group, which is also the parent company of CoinDesk.) That’s quite different from, say, earning interest on your dollar deposits at a bank, but it does look like how a lot of funding happens in the interbank market. Banks obtain short-term funds by lending out Treasury securities and other collateral, which are then used in short-selling operations.
For now, at least, it’s people, not institutions, who are providing the collateral and liquidity need for the back office aspects of a capital market system.
Why Ethereum and Bitcoin Are Very Different Investments. News you can use. The soaring price of bitcoin has in recent weeks coincided with concurrent gains inetherand other tokens. This gave the impression that retail investors are simply buying the latter as a substitutable alternative to the former. Here, CoinDesk’s Muyao Shen explains why that assumption is wrong.
Bitcoin’s Price Is a Poor Proxy for Its Utility.As bitcoin investors celebrate its new all-time highs, CoinDesk columnist Jill Carlson is here to tell you to chill out and focus on what matters. Crypto, she reminds us, is supposed to be about expanding access to money, payments and finance, not earning legacy currency-denominated gains.
US Lawmakers Introduce Bill That Would Require Stablecoin Issuers to Obtain Bank Charters.This bill, introduced by Rep. Rashida Tlaib (D-Mich.) and others, may be a well-intended effort to protect consumers. But the overwhelming backlash from crypto experts, including many sympathetic to Tlaib’s interest in curtailing abuses of the little guy and boosting financial access, shows how badly it was thought out. Imposing high compliance costs on innovative startups trying to boost financial access will ultimately benefit banking behemoths that have failed to service the poor adequately. We need better-informed legislators. Nikhilesh De’s write-through looks at some of the fallout.
• Money Reimagined: Bitcoin vs. Gold Is a Battle of Narratives
• Money Reimagined: Bitcoin vs. Gold Is a Battle of Narratives || Roger Ver: Bitcoin Cash Hard Forks Could Have Thwarted PayPal Support: There are still a lot of uncertainties around the scheduled Bitcoin Cash fork event on Nov. 15, but one thing is for sure: The cryptocurrency’s biggest advocate, Roger Ver, executive chairman of Bitcoin.com, is not a fan of the scheduled upgrades on the network, which take place every six months. “If PayPal knew that this sort of contentious hard fork was likely to happen, maybe they wouldn’t have added bitcoin cash at all to their roadmap,” Ver told CoinDesk in an interview, referring to PayPal’s recent announcement to add cryptocurrencies – bitcoin cash included – to its system. “So it is really a big problem to have these contentious hard forks. I’d like to see that come to an end.” As of press time, PayPal hasn’t responded to CoinDesk’s request for comment on the upcoming fork event. Paxos, the company that provides crypto service for PayPal, rejected CoinDesk’s request to comment on the topic. Related: Bitcoin Cash Has Split Into Two New Blockchains, Again A Bitcoin fork known for forks Unlike a “soft fork” that allows non-upgraded and upgraded nodes to still transact with each other, a hard fork is a software upgrade that implements a new rule to the blockchain that is not compatible with the older software. Thus, developers tend to be extremely conservative about introducing hard forks and usually try to ensure there will be community consensus around these sorts of changes to the code. However, some hard forks have been contentious. In these instances, if some nodes on a network adopt a hard fork and others don’t, then the blockchain will split into two different versions: one with the old software and one with the new software. Bitcoin Cash itself is a result of a hard fork from Bitcoin, after a group from the Bitcoin community, advocating the literal interpretation of Satoshi Nakamoto’s Bitcoin white paper, insisted on increasing block sizes. They pushed for a hard fork of the original Bitcoin blockchain, as they view low-cost, peer-to-peer transactions as the blockchain’s core value. Read more: OKEx, Still Paralyzed by Founder’s Arrest, Details Plans for Bitcoin Cash Hard Fork Related: Market Wrap: Bitcoin Fails to Reach $16.5K; Wrapped BTC Hits $2 Billion Today, as the most well-known fork of Bitcoin, the Bitcoin Cash network undergoes an upgrade every six months, and a chain split can occur when the community is unable to meet consensus requirements. An example is when Bitcoin Satoshi Vision (BSV) forked away from Bitcoin Cash on Nov. 15, 2018. Story continues The Bitcoin Cash hard fork expected this coming Nov. 15 is the result of a blockchain update proposal from a group known as Bitcoin Cash ABC (BCH ABC), led by developer Amaury Sechet. The update has included a controversial new “Coinbase Rule,” which requires 8% of mined bitcoin cash to be redistributed to Bitcoin ABC as a means of financing protocol development. Developers with ‘too much money’ This funding approach has triggered a debate within the BCH community regarding the governance and the development of the software that runs the Bitcoin Cash blockchain. The group led by developers from BCH ABC holds there should be an organized and consistent effort in order for bitcoin cash to become a universal digital payment. Therefore, developers should be funded by the Bitcoin Cash network, according to Chris Troutner, a developer who formerly worked at Ver’s bitcoin.com and is close to Sechet’s BCH ABC group. However, an opposing group against this funding mechanism, Ver included, said that because the software is an open-source protocol, developers should help improve the protocol on a voluntary basis and look for financial resources elsewhere. Ver went a step further by saying the Bitcoin Cash network’s problem is developers have “too much money.” “I think the way [Bitcoin] went off the rails from Bitcoin Cash is developers had too much money and then they started developing and tinkering with too many different things, which caused a problem in the network.” Troutner, who told CoinDesk that he will support both chains after the fork, said the real issue behind the dispute is a collective hatred toward Sechet. Sechet’s BCH ABC has been leading the scheduled Bitcoin Cash updates for the past few years, Troutner said. And Sechet’s team has always wanted to implement this funding mechanism. “[BCH ABC’s opponents] want Amaury Sechet to leave the ecosystem,” he said. Read more: Ethereum’s ‘Unannounced Hard Fork’ Was Trying to Prevent the Very Disruption It Caused Ver said he didn’t think the fork will take place as planned, saying only about 0.2% of the blocks mined on Bitcoin Cash have signaled support for Bitcoin ABC. As of press time, of the last 1,000 blocks mined on Bitcoin Cash, about 80% have signaled support for the Bitcoin Cash Node (BCHN) and only 0.3% for Bitcoin ABC, according to data from Coin Dance. What the data may indicate is that a fork will take place because the software upgrade by BCH ABC is not supported by the majority of the miners, as more blocks are signaling support to BCHN. That will force BCH ABC to fork away from the old chain, said Aidan Mott, analyst at Messari. On the other hand, Troutner posits that the data may have hindered the actual support of BCH ABC. “If you think about it in terms of a game theory, some miners are probably legitimately signaling for BCH but other miners who are planning to mine on ABC probably are also signaling for BCHN because they want their competitors to mine on that chain,” Troutner explained. “That makes it easier for them to mine blocks on the ABC chain.” Exchanges and ‘fork fatigue’ Ver’s early argument is service providers like PayPal can be frustrated by a cryptocurrency blockchain that’s constantly going through forking events. This sort of frustration is already happening at crypto exchanges. Even though it is unclear which chain will become the dominant chain after the fork, a few major crypto exchanges have already announced their support for BCHN, which will inherit the Bitcoin Cash name, assuming the BCH ABC would get the minority of nodes. In a Nov. 6 post by Kraken, the exchange said it will support BCHN, “regardless of the outcome of the fork.” “Bitcoin Cash Node tokens will be called ‘Bitcoin Cash’ on our platform and represented by the ticker symbol ‘BCH,’” Kraken said in the post . “We will support Bitcoin Cash ABC ONLY IF the hash power on the ABC network is at least 10% of the hash power on the Bitcoin Cash Node network.” “Exchanges have to put themselves in a position where they can know what their customers want, which means they understand the kind of the consensus of the miners but also they understand the positions of the development teams,” said Mott. “In this sense, it would be a pretty easy decision to just keep their support and only run Bitcoin Cash Node network software.” Since prices of the two newly split cryptocurrencies will be decided by market supply and demand, exchanges play a significant role because they are the ones that allocate the new tokens to their customers. Another important implication from Kraken’s post is that exchanges also get to decide which new chain will take the Bitcoin Cash name. Read more: Roger Ver’s Mining Pool Pulls Support for Bitcoin Cash Dev Fund Over Chain Split Threat Ver claimed the reason Bitcoin Cash is less popular than Bitcoin is because the latter took the “Bitcoin” name after the hard fork. Ever since then, marketing has been one of the biggest obstacles for the mass adoption of Bitcoin Cash, according to Ver. The market capitalization of bitcoin cash is approximately $4.88 billion at the time of writing, yet bitcoin has a market capitalization of $283.28 billion, according to data on CoinDesk 20 . “When the split happened, the Bitcoin Cash version had all the characteristics that made Bitcoin popular to begin with, but the other version that didn’t have those characteristics got the Bitcoin name and the infrastructure to go with it,” Ver said. “Bitcoin Cash has been rebuilding all of that infrastructure and its brand recognition basically from scratch.” If that’s the case, BCHN will find itself ahead of BCH ABC, as evidenced by exchanges’ support, if it takes the name of Bitcoin Cash. Related Stories Roger Ver: Bitcoin Cash Hard Forks Could Have Thwarted PayPal Support Roger Ver: Bitcoin Cash Hard Forks Could Have Thwarted PayPal Support View comments || Institutional Investors Drive Grayscale's Cryptocurrency Q3 Inflows Above $1B: Grayscale Investments on Wednesday reported it received $1.05 billion in cryptocurrency investment products in the third quarter.
What Happened:The New York-based investment firm, in its "Digital Asset Investment" report, said that it saw the largest single-quarter capital inflow in Q3. Its year-to-date investments have topped $2.4 billion — double the cumulative flow of $1.2 billion in the 2013-2019 period.
The company’sGrayscale Bitcoin Trust(OTC:GBTC) led investment demand, garnering inflows of $719.3 million in the period with assets under management growing 147% year-to-date.
Demand also grew for other products —Grayscale Bitcoin Cash Trust(OTC:BCHG),Grayscale Litecoin Trust(OTC:LTCN), andGrayscale Digital Large Cap Fund(OTC:GDLC) saw inflows rise by more than 1,400% quarter-over-quarter.
Grayscale Ethereum Trust(OTC:ETHE) drew 17% of inflows from new institutional investors.
As much as 81% of the investments in the firm’s products came from institutional investors in the period.
Why It Matters:On Monday, Grayscale said its Ethereum trust now operated as a U.S. Securities and Exchange Commissionreportingcompany.
The company’s Bitcoin Cash and Litecoin funds got approval forlistingon the OTC markets by the Financial Industry Regulatory Authority in July.
JPMorgan analysts said Tuesday thatSquare Inc’s(NASDAQ:SQ) $50 million investment in Bitcoin signifies the cryptocurrency’s potential as an asset. The analysts also pointed to the $425 million Bitcoin purchase ofMicroStrategy Incorporated(NASDAQ:MSTR) as an indicator of demand for Bitcoin outstripping its supply in the third quarter.
Price Action:Bitcoin traded 0.58% lower at $11,390.44 at press time, while Ethereum traded 1.6% lower at $377.32.
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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Blockchain Bites: Bankrupted Cred’s Missing Millions, Bitcoin Miners’ Quarterly Losses and More: Crypto lender Cred’s bankruptcy is more than it appears. Two publicly traded bitcoin mining firms reported this week: Neither are profitable. ECB President Christine Lagarde has a “hunch” about the digital euro.
Chapter…12?Cred’s Chapter 11 bankruptcy filingdoesn’t tell the whole story. With $67.8 million in assets and $136 million in liabilities, the crypto lender called it quits last weekend, leaving hundreds of depositors worrying about their collected $100 million loaned to the company. Cred has officially blamed malfeasance on the part of an outside investor entrusted with 800BTC, although corporate insiders also say a $39 million line of credit to a Chinese lender went south. “There’s a lot else going on,” Daniyal Inamullah, former head of capital markets at Cred, said. CoinDesk’s Nathan DiCamillo investigates.
Bleeding BTC?Two publicly traded bitcoin mining companies are nearing profitability. Marathon and Hut 8, prominent within the sector, both narrowed quarterly losses, according to quarterly financial statements. Marathon bumped revenues to $835,184 in Q3, a160% increasefrom the same period last year, while also recording a net loss of nearly $2 million. The company’s loss per share, however, dropped from 12 cents to 6 cents a share year over year. Meanwhile, Hut 8 saw C$5.3 million (about US$4 million) in Q3 mining revenue,down 43%from the previous quarter, but also managed to trim its losses of C$0.07 a share in Q3 2019 to C$0.01 this quarter.
Related:Crypto Long & Short: What We’re Getting Wrong About Druckenmiller and Bitcoin
CBDC ‘hunch’European Central Bank PresidentChristine Lagarde has a “hunch”there will be a digital euro in two to four years. At a virtual panel yesterday, Lagarde said an European Union-wide central bank digital currency should be explored, “If it is going to facilitate cross-border payments.” The ECB previously said it is researching a CBDC. The latest statements are another indicator of what to expect and when: “A digital euro will not be a substitute for cash,” Lagarde said. “It will be a complement.” Separately, Benoit Coeure, head of the Innovation Hub at the Bank for International Settlements (BIS), said any potential CBDC for the supranational bank could involve blockchain. “Everything is possible,” he said.
Audited and attackedDecentralized finance (DeFi) platform Akropolis suffered a$2 million lossfollowing a sophisticated “flash loan” attack. According to the platform’s founder Ana Andrianova, the attacker pulled out tranches of $50,000 inDAIfrom the project’s yCurve and sUSD pools, leveraging derivatives platform dYdX. While much is said about the audit trails of novel DeFi protocols, especially after hacks, Akropolis’ code was in fact audited twice: once by CertiK and also by firms SmartDec and Pessimistic.
Exchange flowsBitcoin flows to Binance from Huobi have reached anall-time high. According to data provided by CryptoQuant, some 18,652 bitcoins, worth nearly $300 million, were transferred from Huobi to Binance from Nov. 2 to Nov. 11. The bustling trade spiked ever since the Huobi chief operating officer, Robin Zhu, went missing at the beginning of the month. For months, Chinese regulators have been clamping down on crypto trading platforms, as part of a broader sweep of the fintech industry.
• Ant Group’s suspended IPO was the work of slighted CCP officials – but it also links back to China’s digital yuan experiments. (CoinDesk)
• Uniswap farming ends in four days, potentially freeing up $1.1 billion inETH(Cointelegraph)
• Sythentix now has a Brent Crude oil future trading pool. (CoinDesk)
• “Severe” bug found in core library for Ethereum and Ethereum Classic has been fixed. (Decrypt)
Dignity and bitcoin“The systems don’t always work,” Robby Gutmann, co-founder of Stone Ridge Holdings Group, told NLW in hisfirst podcastinterviewsince the company made waves by investing heavily in bitcoin. That’s why the $10 billion alternative asset manager has placed its “primary treasury reserve” in bitcoin.
Related:Money Reimagined: The US' Kodak Moment
In short, bitcoin is an exit from an inflating monetary base that has failed to serve the public. Last month, Stone announced it would stash more than10,000 BTCwith its crypto subsidiary NYDIG. This follows other corporate firms like MicroStrategy and Square moving some of their cash treasuries into bitcoin, also citing monetary debasement.
“The expansion of the money supply in the U.S. hasn’t shown up in growth of CPI in a measurable way, but in other measurements of inflation,” Gutmann said. Notably, Gutmann considers the prospect of living a “dignified” retirement as an ideal marker for inflation.
“The idea of financial security is much broader in bitcoin,” he said, when claiming that only a “single-digit number” of fiat monetary systems are functional or scale. “Can I save my day’s labor in something I can spend tomorrow next week,” isn’t a question most U.S. workers are confronted with, but it may be a legitimate concern elsewhere.
That’s why a bitcoin-based world economy could better serve nations that weren’t part of the industrializing processes of the 19th and 20th centuries.
Gutmann further explained NYDIG’s thesis is in fostering the “long-term development of an open source monetary system.” This includes opening some of its in-house bitcoin infrastructure up to other companies – “we won’t be the last people that have this challenge” – and applying for New York State’s “BitLicense ” and a limited trust charter.
“To the extent we can move the bitcoin project forward, it feels like we can do something measurable in society today around this idea of financial security for people outside the first world,” he said.
The full, hour-long interview can befound here.
• Blockchain Bites: Bankrupted Cred’s Missing Millions, Bitcoin Miners’ Quarterly Losses and More
• Blockchain Bites: Bankrupted Cred’s Missing Millions, Bitcoin Miners’ Quarterly Losses and More || Smaller digital coins soar as bitcoin powers on towards record high: By Tom Wilson
LONDON (Reuters) - Digital currencies Ethereum and XRP soared on Monday, gaining momentum as bitcoin powered on towards its all-time high.
Ethereum, the second largest cryptocurrency by market capitalisation after bitcoin, jumped 7% to its highest since June 2018, taking its gains to more than 25% over the last three days alone.
Traders said ethereum, which often moves in tandem with bitcoin, has been boosted by growing demand ahead of an upgrade to its blockchain network - due in early December - that is widely expected to make it quicker and more secure.
The upgrade could mean "more people and businesses can use ethereum for economic activity, rather than just financial trading," said Ross Middleton, co-founder of cryptocurrency exchange DeversiFi.
Ethereum, like bitcoin, is mostly popular among speculative traders. It has gained little mainstream use.
Third-biggest coin XRP soared 22% to its highest in over two years. It has gained around 75% in the last three days, though two traders said there was no immediate news catalyst for its jump.
The price of these so-called altcoins is closely tied to bitcoin. Less liquid than their bigger cousin, they tend to suffer from even greater volatility than the original cryptocurrency.
Smaller coins have rallied as crypto investors took gains from bitcoin's stunning recent rally, which has seen it rise around 10% in the last week.
Bitcoin was last up 1% at $18,603, its all-time high of $19,666 hit in Dec. 2017 in sight. It has soared around 160% this year.
"Bitcoin skyrocketed, profits were taken, profits went back into altcoins," said Joseph Edwards, head of research at crypto brokerage Enigma Securities.
Bitcoin's gains have been fuelled by a demand for risk-on assets amid unprecedented stimulus measures to combat the damage from the COVID-19 pandemic.
With governments and central banks in full stimulus mode, investors have also sought out bitcoin for its perceived resistance to inflation.
(Reporting by Tom Wilson; Editing by Kirsten Donovan) || Niall Ferguson on Why Bitcoin and China Are Winning the Monetary Revolution: The well-known economic historian connects the dots between bitcoin and CBDCs in the COVID-19 money era.
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 byCrypto.com,Nexo.ioand this week’s special product launch,Allnodes.
Related:Hong Kong in Talks With PBOC on Digital Yuan Trial for Cross-Border Payments
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On today’s Long Reads Sunday, NLW reads Niall Ferguson’s latest Op-Ed for Bloomberg: “Bitcoin Is Winning the COVID-19 Monetary Revolution”
In it, Ferguson argues that bitcoin’s sovereignty and “built-in scarcity in a virtual world characterized by boundless abundance” are driving its adoption.
He also argues that rather than adopt a China-style central bank digital currency, incoming President Joe Biden should look to integratebitcoininto the U.S. economic system.
Related:Hong Kong Crypto Exchange Founder Taken Amid China’s Crackdown on Fraudulent Bank Accounts
See also:$50K BTC in 2021? Bloomberg Analysts Join the ‘Traditional Onslaught’ Driving Bitcoin’s Rally
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.
• Niall Ferguson on Why Bitcoin and China Are Winning the Monetary Revolution
• Niall Ferguson on Why Bitcoin and China Are Winning the Monetary Revolution || Bitcoin and Ripple’s XRP – Weekly Technical Analysis – November 23rd, 2020: Bitcoin rallied by 15.20% in the week ending 22ndNovember. Following a 3.00% gain from the week prior, Bitcoin ended the week at $18,392.0.
It was a bullish week. Bitcoin rallied from a Monday intraweek low $15,874.0 to a Saturday intraweek high and a new swing hi $18,945.0.
The rally saw Bitcoin break through the first major resistance level at $16,684 and the second major resistance level at $17,402.
Coming up against resistance at $19,000, however, Bitcoin fell back on Sunday to end the week at sub-$18,500 levels.
5 days in the green that included a 5.72% rally on Tuesday and a 4.73% gain on Friday delivered the upside for the week.
Bitcoin would need to avoid a fall through $17,737 pivot to support a run at the first major resistance level at $19,600.
Support from the broader market would be needed for Bitcoin to break out from last week’s high $18,945.0.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of another breakout, Bitcoin could test the second major resistance level at $20,808.
Failure to avoid a fall through the $17,737 pivot would bring the first major support level at $16,529 into play.
Barring an extended sell-off, however, Bitcoin should steer clear of sub-$16,000 support levels. The second major support level sits at $14,666.
At the time of writing, Bitcoin was down by 0.95% to $18,217.0. A mixed start to the day saw Bitcoin rise to an early morning high $18,498.0 before falling to a low $18,003.0
Bitcoin left the major support and resistance levels untested at the start of the week.
Ripple’s XRP surged by 60.90% in the week ending 22ndNovember. Following on from a 6.29% rally from the previous week, Ripple’s XRP ended the week at $0.44669.
It was also a bullish week. Ripple’s XRP rallied from a Monday intraweek low $0.26767 to a Sunday intraweek high $0.4980.
Ripple’s XRP broke through the week’s major resistance levels. More significantly, however, Ripple’s XRP broke through the 23.6% FIB of $0.3134 and the 38.2% FIB of $0.4392.
The bearish end to the week saw Ripple’s XRP fall back to $0.40 levels before wrapping up the week at $0.44 levels.
5-days in the green that included a 39.95% jump on Saturday delivered the upside for the week.
Ripple’s XRP would need to avoid a fall through 38.2% FIB and the $0.4041 pivot level to support a run at the first major resistance level at $0.5406.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from last week’s high $0.4980.
Barring another extended crypto rally, the first major resistance level would likely cap any upside.
In the event of another breakout, Ripple’s XRP could test the second major resistance level at $0.6345 before any pullback.
Failure to avoid a fall through the 38.2% FIB and the $0.4041 pivot would bring the 23.6% FIB of 0.3134 and the first major support level at $0.3102 into play.
Barring an extended crypto market sell-off, however, Ripple’s XRP should steer clear of sub-$0.30 levels, however. The second major support level sits at $0.1738.
At the time of writing, Ripple’s XRP was up by 1.29% to $0.45246. A bullish start to the week saw Ripple’s XRP fall to an early Monday morning low $0.43266 before striking a high $0.45485.
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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Fintech Movers:UBS Group AG plans to invest $200 million of its own money in fintech companies over the medium term in a push to further digitize its services and find new ways to engage with clients.-Bloomberg
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Benzinga Global Fintech Awards Spotlight:
Every year Benzinga, a leading news and data platform, holds the Global Fintech Awards, a day of dealmaking, networking, and recognition in the fintech space.
Ahead of the November 10, 2020 event, this newsletter highlights disruptive innovators working to create positive and diverse change in financial services.
Today's disruptive innovator isIG Group, a leader in derivatives trading.
For a chance to make your mark on the future of innovation and be featured in this newsletter,check out our Global Fintech Awards! To meet the biggest names in fintech and discover emerging trends,get tickets here.
Watch For This:Nearly half a million people in the United States have contracted the novel coronavirus in the last seven days.-Al Jazeera
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Market Moving Headline:Markets are increasingly reflecting a unified Democratic government outcome that may lead to a significant fiscal expansion.-BlackRock
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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 4 Charts Showing Why Bitcoin Is an Alternative Risk Asset: Bitcoin is a risk-asset rather than a safe haven. Similar to equities, bitcoin experienced a strong rebound this year as central banks unleashed an unprecedented amount of global liquidity. On the other hand, traditional safe haven assets, such as fixed income and cash, have done their job of producing low but stable returns, which is far from the characteristic of bitcoin.
Investors tend to diversify a portfolio of assets to minimize risk. In the risk bucket, they’ll allocate towards growth stocks, cyclicals and commodities. And in the defensive bucket, you’ll find sovereign debt, high-dividend stocks and cash.
Damanick Dantes, CMT, is a macro trader specializing in commodities, equities and crypto. He previously worked on the global asset allocation research team at Fidelity Investments.
Related:Valuing Open Source: Principles for Acquiring DeFi Projects
Where does bitcoin fit in?
Alternative assets, such asbitcoinand gold, provide investors with “non-traditional” (uncorrelated) returns. The typical alternative portfolio bucket holds assets for about 10 years, which includes illiquid investments in private equity, real estate and venture capital. However, bitcoin is tradable, which means that it ismore liquid– making it a good candidate for long/short strategies typically used by hedge funds.
There’s a new wave of institutional investors in digital assets, and they’re not your typical investment advisers. Large funds that invest in alternatives are starting to view bitcoin as an attractive risk bet in their portfolios. We’re talking about an estimated $14 trillion market in alternative assets by 2023, according to aPreqin surveyof institutional investors.
Guggenheim, a global asset management firm, recently announced it may seek indirect exposure to bitcoin. The firm’s Macro Opportunities fund may invest up to 10% of its net asset value in Grayscale Bitcoin Trust (GBTC) – about $497 million. (Grayscale is a sister company to CoinDesk.)
Related:Bitcoin’s Price Is a Poor Proxy for Its Utility
See also: Damanick Dantes –4 Charts Showing Why Financial Advisers Should Care About Bitcoin
Here are four charts that illustrate bitcoin’s use as an alternative risk asset.
Bitcoin has risen in tandem with the Federal Reserve’s balance sheet.After a two-year period of winding down its balance sheet, the Federal Reserve returned in full force this year to resume its asset purchasing program. As a result, the “Fed put” (a belief the Fed is always there to rescue the economy and financial markets) has boosted the appeal of bitcoin as an alternative risk asset.
The number of investor-held bitcoin is rising.Wallets that store bitcoin for the long term are less likely to succumb to profit-taking. This holding trend means that investors are increasingly taking the place of traders as bitcoin matures.
Large owners continue to hold most of bitcoin.Unlike traditional assets, the massive concentration of bitcoin holdings means that a large holder can have an outsized impact on price movement. And this is where alternative portfolio strategies come in.
Bitcoin remains in a long-term uptrend.Systematic portfolios manage volatility by adjusting positions based on price trend. One method is to calculate bitcoin’s market value relative to its realized value (MVRV). The ratio suggests that bitcoin is currently trading above “fair value,” albeit below previous extremes.
These trend systems are commonly used in the managed futures industry which has$303.6 billionin assets under management, a large sum of money that could flow into digital assets.
See also: Hong Fang –The Complete Case for $100K Bitcoin
• 4 Charts Showing Why Bitcoin Is an Alternative Risk Asset
• 4 Charts Showing Why Bitcoin Is an Alternative Risk Asset || Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Contract: Bitcoin gained Wednesday while Ethereum 2.0 staking has been ramping up. Bitcoin (BTC) trading around $15,694 as of 21:00 UTC (4 p.m. ET). Gaining 2.6% over the previous 24 hours. Bitcoin’s 24-hour range: $15,293-$15,973 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin’s price was back on a bullish run Wednesday, heading as high as $15,973 around 18:00 UTC (2 p.m. ET) before slipping somewhat, at $15,694 as of press time. Constantin Kogan, managing partner at investment firm Wave Financial, sees an upside signal in the Power of Balance indicator , which uses opening, closing, high and low daily pricing to determine market movements. “The Power of Balance indicator signals in favor of an upward breakout, most likely a test of $16,000,” Kogan said. Related: Bitcoin’s Options Market Shows Strongest Bullish Mood on Record Read More: Bitcoin to Consolidate Before December Rise Toward $20K, Say Analysts Analysts seem to have found a short-term price floor, the area where order books will trigger buying, pushing the price back above that level if it does go that low. “We’ve been ranging between $14,600 to $16,000 since Nov. 5. Bitcoin seems to have found a local floor at the $15,000 price,” Andrew Tu, an executive at quant trading firm Efficient Frontier, told CoinDesk. David Lifchitz, chief investment officer of ExoAlpha, echoed a similar assessment. “In the very short term, we may see some consolidation of the bitcoin price around $15,000, which would be healthy after the last powerful breakout, before grinding higher toward $20,000.” Related: First Mover: Bitcoin Breaches $16K as (Committed) Holders Diss Dalio's Diss “As BTC consolidates and more bullish fundamental news comes out for both bitcoin, like [Stanley] Druckenmiller coming out as an investor in BTC, and the general market, like the [Pfizer coronavirus] vaccine, it may provide the risk-on impetus to break above resistance at $16,000,” Tu added. Story continues The market hailed the potential for coronavirus vaccinations being deployed over the next several months. That has pushed up global equities since Monday and major indexes were positive on Wednesday. The Nikkei 225 closed up 1.7% as optimism over a coronavirus vaccine outweighed traders hitting the sell button on SoftBank, which fell 2.5% Wednesday . Europe’s FTSE 100 ended the day in the green up 1.3%, driven by optimism that a vaccine will help boost the continent’s economy . In the United States the S&P 500 gained 0.77% as tech stocks climbed, led by Amazon in the green 2.8% and Apple jumping 2.7% . Bitcoin’s correlation with the S&P 500 has been trending down this week, with Tuesday continuing Monday’s drop in the relationship of their price movements. For Efficient Frontier’s Tu, some fundamental aspects that would cause traditional markets to dump may simultaneously pump bitcoin. “[U.S. President] Trump’s posturing around the election result and the multiple lawsuits and recounts coming from his administration may provide enough political instability to cause BTC to bid upwards.” Ether in ETH 2.0 surpasses 50K Ether (ETH), the second-largest cryptocurrency by market capitalization, was up Tuesday, trading around $465 and climbing 3.5% in 24 hours as of 21:00 UTC (4:00 p.m. ET). Read More: Ethereum Providers to Update Software After ‘Unannounced Hard Fork’ The amount of ether that has been staked in Ethereum’s 2.0 upgrade smart contract passed 50,000 ETH Tuesday. It’s at 50,977 ETH, according to data aggregator Glassnode, and is worth over $23 million as of press time. The Ethereum 2.0 contract launched Nov. 3. Users must stake at least 32 ETH in the contract in order to participate in the network upgrade, which is expected to enhance its security and scalability while maintaining the transaction history and functionality of existing ether balance. Ben Chan, vice president of engineering at oracle provider Chainlink, told CoinDesk he is bullish on ETH 2.0 prospects but that more scaffolding still needs to be built for ETH 2.0 developers. “I think it needs more community support, more tooling and turnkey staking solutions,” Chan said. Other markets Digital assets on the CoinDesk 20 are mixed Wednesday. Notable losers as of 21:00 UTC (4:00 p.m. ET): omg network (OMG) + 10.7% kyber network (KNC) + 6.2% litecoin (LTC) + 2.6% Notable losers: 0x (ZRX) – 2.6% algorand (ALGO) – 1.3% tezos (XTZ) – 0.36% Read More: Bridgewater’s Dalio: Governments Will Ban Bitcoin if It Becomes ‘Material’ Commodities: Oil was down 0.60%. Price per barrel of West Texas Intermediate crude: $41.53. Gold was in the red 0.69% and at $1,864 as of press time. Treasurys: The 10-year U.S. Treasury bond yield climbed Wednesday, jumping to 0.982 and in the green 1.4%. Related Stories Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Contract Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Contract
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 18321.14, 18553.92, 18264.99, 18058.90, 18803.66, 19142.38, 19246.64, 19417.08, 21310.60, 22805.16
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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 2022-12-01]
BTC Price: 16967.13, BTC RSI: 47.07
Gold Price: 1801.10, Gold RSI: 70.46
Oil Price: 81.22, Oil RSI: 45.74
[Random Sample of News (last 60 days)]
Warning! Don’t Even Consider Buying These 7 Dead-Money Stocks: Financial markets have been in turmoil for the better part of the past six months. The stock market has plunged to new lows as the Federal Reserve tightens the screws with rampant interest rate hikes. That said, this market correction has created multiple opportunities for investors to load up on stocks for the long-haul. However, at the same time, there are dead-money stocks that now look like growth-at-a-reasonable price plays, which really could be value traps poised for more losses ahead.
Dead-money stocks are those investments that have shown little to no growth over a considerable time period. These companies tend to be investments which don’t provide any sort of capital return over a long period of time. Accordingly, with little in the way of growth or capital returns, an investor’s capital may be considered “dead money” invested in such stocks.
Right now is the time for investors to be doubly careful about their investments, due to the likelihood of more losses. Therefore, investing in businesses that can effectively weather the current economic downturn and emerge stronger in the upcoming quarters is a must.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
With that said, let’s look at seven dead-money stocks that are poised for substantial losses ahead.
[{"OCGN": "RDFN", "Ocugen": "Redfin", "$1.70": "$4.76"}, {"OCGN": "PTON", "Ocugen": "Peloton", "$1.70": "$8.94"}, {"OCGN": "VRM", "Ocugen": "Vroom", "$1.70": "$1.10"}, {"OCGN": "HYZN", "Ocugen": "Hyzon Motors", "$1.70": "$1.82"}, {"OCGN": "AMC", "Ocugen": "AMC Entertainment", "$1.70": "$6.15"}, {"OCGN": "HIMX", "Ocugen": "Himax Technologies", "$1.70": "$5.86"}]
Source: Wirestock Creators / Shutterstock.com
It’s been a roller-coaster ride for biotechOcugen(NASDAQ:OCGN) over the past couple of years. Its shares shot to the moon after itannounced an agreementwith India-based Bharat Biotech to commercialize the Indian coronavirus vaccine in the North American region. However, OCGN stock has since shed most of its gains after running into multiple regulatory roadblocks in commercializing Covaxin.
Ocugen still hasn’t gotten approval from The United States Food and Drug Administration to market its vaccine in the U.S. This comes at a time when the pandemic is firmly in the rear-view mirror, for most. The company has, however, found some success elsewhere. But without the U.S. market, it’s unlikely to turn heads as far as its stock is concerned. Therefore, I think this stock is nothing more than a speculative play at best.
Source: Sundry Photography / Shutterstock.com
Redfin(NASDAQ:RDFN) operates a leading online real estate marketplace, providing multiple ancillary services to complement its core business of assisting individuals to buy and sell a home. Its business was booming over the past couple of years, but the dramatic slowdown in home sales due to rising inflation and interest rates has thrown a wrench in its plans.
The problem for Redfin is its massive cost base, which will continue to weigh down its results for the foreseeable future. Its cost structure is mostly fixed, giving the company little wiggle room to navigate the current crisis. Moreover, Redfin’s debt load continues to grow at a breathtaking pace each quarter, and with a negative cash balance, it is unlikely to thrive in the current economic climate. Therefore, I expect the stock to continue trading in the red for the foreseeable future.
Source: JHVEPhoto / Shutterstock.com
Peloton(NASDAQ:PTON) caught lightning in a bottle with its business growing to new heights during the pandemic. The niche-based home fitness equipment provider saw massive demand for its products as gyms closed down. However, its business is buckling in the post-pandemic world and is likely to continue losing money rapidly.
Peloton’s growth rates are slowing down while its expenses are rising aggressively. This is a recipe for financial disaster. Indeed, it’s going to take a herculean effort for Peloton to turn the ship around with its financials in deplorable shape. And while the company announced a recentpartnership withDICK’S Sporting Goods, I think it will take more than such partnerships to sway investor interest meaningfully. Hence, Peloton’s business is likely poised to lose more money for the foreseeable future.
Source: Lori Butcher / Shutterstock.com
Vroom(NASDAQ:VRM) operates an e-commerce platform for buying and selling used vehicles. The company’s top line growth rocketed higher during the pandemic due to the widespread shortage of used vehicles. However, results in the past couple of quarters have shown a substantial slowdown in top-line expansion. In fact, in its second quarter, Vroom’s salesdropped by more than 37%from the prior year.
Vroom’s thin gross margins and ballooning operational expenses are major problems for the business. It’s tough to foresee a scenario where the firm could progress towards profitability in this current economic backdrop. Its business faces inflation-related cost increases, labor shortages, and supply-chain troubles, which continue to weigh down its results. Therefore, its long-term profit trajectory is up in the air, which makes VRM a stock to avoid at current levels.
Source: shutterstock.com/Nixx Photography
Fuel cell electric vehicle producerHyzon Motors(NASDAQ:HYZN) saw its shares pummeled after being struck byfraud allegations from short sellers. The company has withdrawn operational and financial guidance, as Hyzon’s financial statements apparently cannot be relied upon. These poor disclosures lend to the credibility of short seller reports, and don’t inspire much in the way of investor confidence. Additionally, Hyzon’s operations in its European region require restructuring, which further adds to its woes.
With its reported financials deemed by the market to be essentially null and void, it’s virtually impossible to bet on Hyzon. The company’s strategies are unclear, and its stock now trades in penny stock territory. Therefore, there’s hardly an incentive to invest in the business at this time.
Source: rafapress / Shutterstock.com
AMC Entertainment(NYSE:AMC) is a leading theatre-chain operator whose shares skyrocketed during the retail trading frenzy last year. However, its shares, for the most part, have taken a major hit over the past year, losing more than 80% of their value.
After a strong start to the year due to better-than-expected results from individual movies, the domestic box office performance has become as muted as ever. Domestic box office receipts came in significantly below pre-pandemic levels, and are unlikely to perform well in upcoming quarters. Moreover, AMC continues to burn through a truckload of cash each quarter, and has reached a point where substantial dilution will very likely be needed. Though the company could be capable of having a sustainable business if it eliminates interest costs, I think this cash burn situation is unlikely to change anytime soon.
Source: Shutterstock
Himax Technologies(NASDAQ:HIMX) provides integrated circuits used in various devices, including televisions, vehicles, laptops, and cell phones. Over the years, its business has been relatively solid, generating double-digit growth on its top line. However, supply chain issues have significantly impacted its recent results, and I think these woes are likely to persist for the foreseeable future.
Furthermore, one of Himax’s key problems is that its sales are concentrated in China. The main issue for the Taiwanese company is its overwhelming exposure to the Chinese market. Inflation is rising in the region, while growth continuing to decline, at least in part due to Chinese geopolitical issues.
To complicate matters further,China’s zero Covid 19 policy, which has resulted in entire cities locking down, is detrimental to economic growth. Therefore, HIMX stock will likely face plenty of trouble in the short-term, which will substantially erode shareholder value.
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, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines
Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.
• 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 postWarning! Don’t Even Consider Buying These 7 Dead-Money Stocksappeared first onInvestorPlace. || 3 Stocks You’ll Be Glad You Don’t Own in This Bear Market: While investors are hoping for a quick end to the current bear market, recent data signals it’s not likely to be over soon. The September core consumer price index, which excludes food and energy prices, hit a 40-year high . This, combined with the fact that the labor market remains strong , nearly guarantees the Federal Reserve will continue hiking interest rates aggressively. Most on Wall Street seem to agree that we’re heading for a recession, although there’s not a consensus on how nasty of one it will be. As investors, now is probably a good time to consider how you can reduce risk, which includes culling companies with poor fundamentals and big headwinds from your portfolio. With that in mind, here are three stocks to sell in a bear market. InvestorPlace - Stock Market News, Stock Advice & Trading Tips AMC AMC Entertainment $6.03 NLY Annaly Capital Management $17.08 TLRY Tilray Brands $3.23 AMCEntertainment (AMC) AMC movie theater front glowing in the setting sun with the name shining bright red. AMC stock. Source: Ian Dewar Photography / Shutterstock AMC Entertainment (NYSE: AMC ) is one of the original meme stocks. Shares of the struggling movie theater chain vaulted to once unimaginable heights thanks to a retail investor army who dubbed themselves the AMC “apes.” Yet, as interesting as this was to watch, when you get right down to it, AMC is really just a leader in a slowly dying industry. Movie theater ticket sales have been declining for the better part of two decades . There’s a reason AMC stock was trading around $2 per share prior to the meme-stock mania. In the first six months of 2019, AMC reported $2.7 billion in sales from an attendance of nearly 177 million moviegoers. During that period, AMC lost nearly $81 million. In the first half of 2022, AMC reported $1.95 billion in revenue from around 69 million moviegoers. So, the company is far from where it was pre-pandemic in terms of sales and attendance. It also posted a net loss of $459 million in the first half of 2022. Bottom line: There was no good reason to invest in AMC stock then and there’s no good reason to invest in it now. Story continues Annaly Capital Management (NLY) a person in a suit holds a tiny house to represent reits to buy Source: Shutterstock Mortgage-backed real estate investment trust Annaly Capital Management (NYSE: NLY ) is showing serious signs of distress as mortgage rates continue to rise amid Fed tightening that is going to continue. Annaly Capital undertook a reverse stock split on Sept. 23, consolidating every four shares of its stock into one. Reverse stock splits are typically done with the intention of artificially inflating a stock’s value, as the underlying market capitalization of a firm doesn’t change. The market generally sees such a move as a bad sign, and shares often move lower in the wake of a reverse split. Since the split, NLY stock has lost around 20% of its value, and it’s down nearly 40% year to date. With the latest inflation numbers all but assuring a 75-basis-point rate hike next month, followed by another increase in December, things aren’t going to get easier for Annaly Capital Management in the near future. Some investors may be enticed by the stock’s high dividend yield, which now stands at nearly 21% post-split. Don’t fall for it. NLY is an obvious stock to sell in a bear market. Tilray Brands (TLRY) Closeup of mobile phone screen with logo lettering of cannabinoid company tilray cannabis, blurred marijuana and pipette background Source: Ralf Liebhold / Shutterstock.com Last up on today’s list of stocks to sell in a bear market is medical and recreational cannabis purveyor Tilray Brands (NASDAQ: TLRY ). On Oct. 6, shares soared 31% on news President Joe Biden was pardoning more than 6,500 people convicted of marijuana possession. Yet, the next day, TLRY stock gave back much of those gains after the company reported weaker-than-anticipated revenue and earnings. Revenue declined 9% year over year, falling to $153.2 million , while net losses increased from $34.6 million to $65.8 million in the period. The company reported a loss of 13 cents per share, compared with 8 cents a year ago and worse than the 7-cent loss Wall Street was expecting. Fundamentally, the company is headed in the wrong direction. The firm likes to tout its leading position in the Canadian cannabis market. But the truth is its current operational base is not enough. And there’s a long way to go in the U.S. between a federal pardon and legalization. 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.com Publishing Guidelines . Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks.Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing. 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 Stocks Youâll Be Glad You Donât Own in This Bear Market appeared first on InvestorPlace . || Digihost Announces Y/Y 78% Increase in Monthly Bitcoin Production and Provides Operations Update: This news release constitutes a designated news release for the purposes of the Companys prospectus supplement dated March 4, 2022 to its short form base shelf prospectus dated February 23, 2022. TORONTO, Nov. 01, 2022 (GLOBE NEWSWIRE) -- Digihost Technology Inc. ( Digihost or the Company ) (Nasdaq: DGHI; TSXV: DGHI), an innovative U.S. based Bitcoin ( BTC ) mining company, is pleased to provide unaudited comparative BTC production results for the month ended October 31, 2022, combined with an operations update. All monetary references are expressed in USD unless otherwise indicated. The Company mined 74.58 BTC in October of 2022, compared to 41.84 BTC in October of 2021, an increase of 32.74 BTC or approximately 78%. Production Highlights for October 2022 Mined 74.58 BTC, resulting in total holdings of 118.16 BTC at the end of October valued at approximately $2.45 million based on a BTC price of $20,705 as of October 31, 2022. Ethereum ( ETH ) holdings of 800.89 ETH at the end of October valued at approximately $1.29 million based on an ETH price of $1,620 as of October 31, 2022. Total digital asset inventory value, consisting of BTC and ETH, of approximately $3.74 million as of October 31, 2022. In addition, the Company held cash of approximately $3.42 million at the end of October. Cash and liquid assets as of October 31, 2022 totalled approximately $7.16 million. This compares to cash and liquid assets of approximately $7.46 million as of September 30, 2022. Consistent with managements commitment to avoid equity dilution for its shareholders, the Company sold a portion of its BTC production during October to fully fund its energy costs. Natural gas prices declined approximately 25% during the month of October. The Company continues to remain debt free as of October 31, 2022. The Companys mining operations continue to remain cash flow positive. Despite current volatile economic conditions, Digihost has been able to maintain good liquidity levels of cash and crypto holdings on a month-to-month basis relative to the size of our operations and of equal importance, the Company continues to be debt free. We have maintained these liquidity levels while internally funding 100% our infrastructure development and securing bonds for electric service, said Michel Amar, Chairman and CEO of Digihost. Assuming the persistence of current market conditions, including current BTC prices, hashing difficulty and costs of energy, the Company expects to continue to generate positive cashflow from operations to fund its existing development initiatives and will adhere to its policy of remaining debt free. I am also pleased to report to our shareholders that during the month of October, I continued to add to my position in Digihost by acquiring shares in the open market. Story continues Year-Over-Year Monthly Comparison The Company mined approximately 32.74 more BTC in October 2022, compared to October 2021, representing an increase of approximately 78%. Figure 1. Year-over-year Monthly BTC Production Oct-22 Oct-21 MoM Increase Mined BTC 74.58 41.84 32.74 Approximate BTC value $20,705 $61,319 ($40,614) Production Value $1,544,179 $2,565,587 ($1,021,408) North Tonawanda Power Plant Acquisition Update The Company continues to move forward with closing documentation and approval requirements related to Digihosts acquisition of a 60MW power plant in North Tonawanda, NY ( NT ). As stated previously, management anticipates that this significant transaction will close in Q4 of 2022. With the power plant running at 50 MW, the Company will be able to increase its current operating capacity of 650 PH by approximately 150%, thereby increasing Digihosts hash rate to approximately 1.6 EH. Alabama Site Build-Out The Alabama Phase 1 build-out is continuing on schedule and on budget. Phase 1, scheduled for completion in Q4 of 2022, will provide the Company with 22MW of power capacity resulting in additional mining capacity of approximately 550 PH. When coupled with the incremental mining capacity from the NT power plant, Digihosts total computing power by the end of Q4 could reach up to approximately 2.2 EH. Digihost is building the necessary infrastructure to provide the Alabama property with total power capacity of 55 MW, with the additional 33 MW projected to be operational by the end of the first quarter of 2023, resulting in total computing power available to the Company of approximately 3.0 EH. The Company also recently secured a $1.3 million surety bond with Alabama Power Company for electric service, demonstrating customer confidence in Digihosts business and ability to meet future business needs and obligations. Nasdaq Listing As disclosed by Digihost on October 14, 2022, the Company received notification from Nasdaq Stock Market LLC ( Nasdaq ) that the bid price for the Companys listed shares, for the consecutive 30-day period ended October 9, 2022, had closed below the $1.00 requirement for continued listing on Nasdaq. The Company has been provided with an initial 6-month period ending April 10, 2023 to achieve a closing bid price at or above $1.00 for 10 consecutive business days in order to regain compliance. If compliance has not been regained by April 10, 2023, the Company may be granted a further 6-month period to achieve compliance. The Company is exploring options to regain compliance in the next 6 months, such considerations including a possible share consolidation, however, management remains confident that its projected growth trajectory in mining capacity over the next 6 months should provide the necessary catalyst to help the Company resolve the deficiency and regain compliance. About Digihost Digihost is a growth-oriented blockchain technology company primarily focused on BTC mining. Through its self-mining operations and joint venture agreements, the Company is currently hashing at a rate of approximately 650 PH/s. All hosting fees and joint venture profit sharing are treated as production costs in the Companys consolidated financial statements. For further information, please contact: Digihost Technology Inc. www.digihost.ca Michel Amar, Chief Executive Officer T: 1-818-280-9758 Email: [email protected] Cautionary Statement Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements Except for the statements of historical fact, this news release contains forward-looking information and forward-looking statements (collectively, forward-looking information) that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. Forward-looking information in this news release includes information about potential further improvements to profitability and efficiency across mining operations including, as a result of the Companys expansion efforts, potential for the Companys 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: future capital needs and uncertainty of additional financing, including the Companys ability to utilize the Companys at-the-market offering program (the ATM Program) and the prices at which the Company may sell securities in the ATM Program, as well as capital market conditions in general; share dilution resulting from the ATM Program and from other equity issuances; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; regulatory and other unanticipated issues that prohibit us from declaring or paying dividends to our shareholders that are payable in Bitcoin; continued effects of the COVID19 pandemic may have a material adverse effect on the Companys performance as supply chains are disrupted and prevent the Company from operating its assets; development of additional facilities to expand operations in Alabama may not be completed on the timelines anticipated by the Company, or at all; the acquisition of North Tonawanda, New York facilities closing on timely basis, or at all; ability to access additional power from the local power grid; a decrease in cryptocurrency pricing, volume of transaction activity or generally, the profitability of cryptocurrency mining; further improvements to profitability and efficiency may not be realized; the digital currency market; the Companys ability to successfully mine digital currency on the cloud; 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 Companys operations; the volatility of digital currency prices; and other related risks as more fully set out in the Annual Information Form of the Company and other documents disclosed under the Companys 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 current profitability in mining cryptocurrency (including pricing and volume of current transaction activity); profitable use of the Companys assets going forward; the Companys 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 on the cloud will be consistent with historical prices; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the negative impact of regulatory changes in the energy regimes in the jurisdictions in which the Company operates; the ability to adhere to Digihosts dividend policy and the timing and quantum of dividends based on, among other things, the Companys operating results, cash flow and financial condition, Digihosts current and anticipated capital requirements, and general business conditions; 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 uncertainties therein. || Embracer Group Shuts Down Montreal Video Game Studio: (Bloomberg) -- Video game publisher Embracer Group AB is shutting down Onoma, a Montreal, Canada-based video game studio that it acquired just months ago. Most Read from Bloomberg Twitter Now Asks Some Fired Workers to Please Come Back Putin’s Ukraine War Is Entering a Terrifying New Phase Ukraine Latest: US and Russia Discussed Containing War, WSJ Says Lawyer Suing Twitter Over Layoffs Says Musk Trying to Comply Wells Fargo Faces US Demand for Record Fine Exceeding $1 Billion Onoma, formerly known as Square Enix Montreal, was best known for creating the Go series of mobile games such as Hitman Go. The company informed employees Tuesday that some staff would be transferred to a sister studio, Eidos Montreal, said people familiar with the situation. A representative for Embracer confirmed Tuesday that the company is closing Onoma and said the move would impact around 200 employees. The shutdown is unusual because of the timing. Onoma was purchased in May and on Oct. 10 announced a new name and branding. Sweden-based Embracer has been on a video game industry shopping spree, buying companies both big and small over the past few years. Onoma was part of a large acquisition earlier this year, alongside Eidos Montreal, San Francisco-based Crystal Dynamics and a handful of franchises including Tomb Raider and Deus Ex. The move appears to be part of a larger cost-cutting initiative. Eidos Montreal has reduced the scope of one unannounced project and will cancel another one, said the people familiar with the situation who asked not to be identified because they were not authorized to speak publicly. The company also plans to work with Microsoft Corp. to help develop some games, including one in the Fable franchise led by UK-based Playground Games. (Updates with Embracer confirmation in the third paragraph.) Most Read from Bloomberg Businessweek El Salvador’s $300 Million Bitcoin ‘Revolution’ Is Failing Miserably US Housing Hit by Spiraling Mortgage Rates as Inflation Persists Yeezy Roller Coaster Ended With Two-Minute Phone Call at Adidas Fast Fashion Waste Is Choking Developing Countries With Mountains of Trash These Five Women Are Helping Doctors Crack the Long-Covid Mystery ©2022 Bloomberg L.P. || Swaps Updates Its Platform to Improve Payment Processing and UX Features: Tallinn, Estonia--(Newsfile Corp. - November 10, 2022) - The Swaps team is pleased to announce that the platform has officially been updated. As a crypto and fiat payment processing company, Swaps prioritizes providing its partners with high-quality crypto on-ramp, off-ramp, and checkout services. The new update therefore includes enhanced UI and UX, 31 blockchains and 1,000 tokens available, along with new payment methods, quick API integration, and numerous other features.
Swaps Updates Its Platform to Improve Payment Processing and UX FeaturesTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8675/143632_swaps1en.jpg
Since 2019,Swapshas been committed to helping businesses seamlessly and effectively access Web3 by providing crypto on-ramp solutions, allowing them to offer Bitcoin, Ethereum, Tether and various other coins. Now, the aforementioned update brings new exciting and innovative features.
The team has just finished integrating Stripe and TrueLayer, the world's top-rank payment and open banking providers. They also added American Express, Google Pay, instant bank payments and many additional payment methods to existing Visa, Mastercard and Apple Pay options. These are available for the platform's partners to bring quicker and more seamless payments to their customers, as it'll only take a few moments for each transaction.
Furthermore, Swaps'payment processing servicealso allows e-commerce companies to accept crypto as a payment method which opens the doors to even more customers, thereby giving the crypto-friendly community an opportunity to buy goods and services with digital coins.
Backed by leading security, compliance and fraud prevention partners, Swaps is now open for KYC sharing, which was one of the top requests to the company for a long time. This provides the partners increased confidence alongside easier onboarding for users.
Swaps CEO, Georgios Kalmpazidis, stated, "One of Swaps' main priorities is fighting against chargeback and fraud and making the merchants' lives easier. The team will hence make this battle even more efficient with the new update."
In this recent upgrade, Swaps also improved the partner dashboard, making accessing and monitoring customer data and transactions quick and transparent. The update additionally introduced the Swaps business wallet for partners and flexible payout options including cryptocurrency and bank transfers.
Lastly, Swaps' versatile and singleAPI integrationmakes this entire ecosystem and its features readily available for any online business to scale up and utilize the power ofdigital assets. What's more is that the team handles AML/KYC verification, anti-fraud, payment methods, and liquidity, in addition to also having permission to operate globally in over 180 countries.
Swaps is a fully compliant and regulated European crypto company which effectively combines industry-leading security with a blazingly fast and incredibly easy-to-use platform to bring buying and selling crypto to everyone, beginner or expert, company or individual.
CEO name: Georgios KalmpazidisE-mail:[email protected],[email protected]: +372 5825 4229Company: Octo LiquidityCountry and city: Estonia, Tallinn
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/143632 || Do Not Invest in Non-Bitcoin Crypto: NYDIG's Ross Stevens on FTX: "Life is too short to do anything other than partner with people you like, trust and would be ferociously proud to be together with in a foxhole when the bullets are flying," said NYDIG founder and Chairman Ross Stevens, explaining why his company has no exposure to the now-bankrupt FTX crypto exchange.
In an essay titled, "Through the Looking Glass,"Stevens took note of a number of red flags, which had NYDIG over the years passing on numerous "opportunities" to "partner" with not just FTX but also failed platforms Three Arrows Capital, Celsius Network and others. "When you cannot satisfy yourself with straightforward answers to straightforward questions such as 'how do you make money,'" he wrote, "run, do not walk away."
NYDIG, said Stevens, will remain a bitcoin company. He advised his readers not to invest in crypto other than bitcoin or in decentralized finance (DeFi) not based on the Bitcoin blockchain.
"Bitcoin cares about [now-formerFTX CEO] Sam Bankman-Fried or [Binance CEO] Changpeng Zhao or me or you as much as gravity does," concluded Stevens. "Every 10 minutes a new Bitcoin block was produced. Every 10 minutes. Every 10 minutes." || The Global Decentralized Finance Market size is expected to reach $125.1 billion by 2028, rising at a market growth of 42.8% CAGR during the forecast period: ReportLinker Decentralized finance (DeFi) is a cutting-edge approach to delivering financial services that does away with centralized intermediaries and rather than depends on automated protocols. Users in DeFi are essentially a component of a peer-to-peer network that is based on a public blockchain and allows for automatic asset transfers. New York, Oct. 25, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Decentralized Finance Market Size, Share & Industry Trends Analysis Report By Component, By Application, By Regional Outlook and Forecast, 2022 – 2028" - https://www.reportlinker.com/p06352722/?utm_source=GNW The majority of DeFi applications imitate conventional payment system offerings inside the crypto-asset ecosystem rather than offering brand-new financial goods and services. The primary distinction is how DeFi offers services instead of depending on centralized middlemen. Due to the high level of revenue production and its transfer back to liquidity providers, customers have great incentives to engage DeFi. The number of people involved is crucial in generating the liquidity supply that supports DeFi protocols since it positively corresponds with the money made in DeFi. As a result, new users are encouraged to adopt protocols with significant revenue potential, which ultimately helps such protocols potentially scale up. One of the main factors influencing market growth is the financial sector’s significant shift as a result of the adoption of DeFi (Decentralized Finance). Over the past five years, interest in how DeFi and decentralized platforms interact on the blockchain has grown. The capacity of DeFi to remove middlemen from financial operations has expanded adoption. DeFi has also had the greatest influence in the insurance sector because the traditional system is plagued by convoluted processes, paperwork, and audit systems. COVID-19 Impact Analysis With the advent of blockchain technology, the COVID-19 pandemic outbreak has caused a revolution in a variety of businesses. The market’s main driver during the outbreak was the requirement for streamlining and optimizing supply chain applications and corporate procedures. Loans on DeFi platforms have climbed more than seven times. Once at time when central banks all over the world have decreased interest rates to assist economies that have been negatively impacted by the pandemic, investors are looking for gains. Thus, the decentralized finance market would surge in the coming years as things are getting back on track in the post-pandemic period. Market Growth Factor Reduction in The Worldwide Gap in Financial Inclusion and Immutability Benefit of Defi The underlying value and influence of decentralized technologies are extremely significant, even though most of the attention and investment in them now is motivated by speculation. For instance, basic financial services are frequently unavailable or substandard owing to a variety of issues, including economic underdevelopment, subpar infrastructure, regulatory issues, etc. Even in highly developed nations, one’s socioeconomic level affects both the quantity and quality of financial services to which they have access. The creation and acceptance of open, international financial services may contribute to closing the gap between financial inclusion and opportunity throughout the world that is continuously expanding. Increasing Popularity of Defi Due to Its High Level of Transparency Transparency is one of the noticeable contributions among DeFi experts, even if immutability is a crucial necessity for the DeFi environment to give assurance of security. Better transparency is a natural byproduct of decentralisation, and the distributed ledger contains details about all transactions made on the blockchain network. The blockchain’s cryptographic principles also guarantee that information is only documented when its legitimacy has been confirmed. The benefits and drawbacks of DeFi demonstrate how users may profit from the apps’ openness. Market Restraining Factor Hackers Pose A Concern and There Is No Consumer Protection In the lack of laws and restrictions, DeFi has prospered. However, this also implies that users might not have many options if a transaction goes wrong. Furthermore, in order to ensure stability and allow customers to withdraw money from their account whenever they need it, banks are mandated by law to retain a specific percentage of their capital in reserves. There are no equivalent safeguards in DeFi. Whereas a blockchain might be almost hard to edit, other components of DeFi run a significant danger of being compromised, which might result in money being stolen or lost. Component Outlook On the basis of component, the decentralized finance market is segmented into Blockchain Technology, Decentralized Applications (dApps), and Smart Contracts. The smart contracts segment garnered a promising revenue share in the decentralized finance market in 2021. DeFi protocols and apps are built on top of smart contracts. A smart contract can function as a custodian with predetermined guidelines for who, when, and how these assets could be received. Application Outlook By application, the decentralized finance market is divided into Assets Tokenization, Compliance & Identity, Marketplaces & Liquidity, Payments, Data & Analytics, Decentralized Exchanges, Prediction Industry, Stablecoins and Others. The data & analytics segment acquired the maximum revenue share in the decentralized finance market in 2021. DeFi protocols provide important advantages for data analysis and decision-making. DeFi protocols aid in risk management and create economic prospects since they are open to data and network activity. Regional Outlook Region-wise, the decentralized finance market is analyzed across North America, Europe, Asia Pacific and LAMEA. North America emerged as the leading region in the decentralized finance market with the largest revenue share in 2021. This is attributable to the presence of well-known competitors like Compound and Uniswap. Additionally, North America has one of the largest cryptocurrency marketplaces in the world, which is positive for the uptake of DeFi systems, which would create more opportunities for the regional market players. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Aave, Balancer Labs, Compound Labs, Inc., Badger DAO, Bancor, SushiSwap (Yearn Finance), MakerDao, Synthetix and Curve Finance. Strategies Deployed in Decentralized Finance Market Aug-2022-Aug: Compound released the latest version of its decentralized finance (DeFi) lending platform, Compound v3. The limited production would decrease the number of supported tokens, which could be borrowed and collateralized on the protocol. Jul-2022: Aave introduced an overcollateralized stablecoin called GHO. This product would enable customers to borrow the stablecoin along still learning the yield on their locked assets on Aave. Jul-2022: Aave came into a partnership with Decentralized Web3 protocol Pocket Network. This partnership aimed to enable the company to use Pocket’s distributed network of more than 44,000 nodes to access on-chain data from various blockchains. The partnership would help developers in developing Aave-powered dApps, enabling them to access reliable blockchain data from Pocket Network on demand. Jun-2022: Balancer introduced Ethereum Layer 2 scaling solution, Optimism. This product would decrease gas costs and scale DeFi liquidity. Ethereum’s challenges would be led to prohibitive fees, creating an extreme barrier to entry for users of decentralized finance. May-2022: Bancor released its v3, dubbed Bancor 3. This product would focus on DeFi liquidity solution to allow healthy on-chain liquidity and sustainable yields for every ecosystem player. Dec-2021: Balancer Labs unveiled Boosted Pools on DeFi protocol Aave. This product is a popular lending and borrowing protocol, which would improve Decentralized Finance Yields. Nov-2021: SushiSwap formed a partnership with Telos, one of the most active blockchain platforms in the world. This partnership aimed to allow customers on both platforms to take benefit of Telos EVM’s scalability, speed, and security against front running along with trading crypto assets. Jul-2021: Aave launched Aave Pro. This product would operate segregated permission pools of ‘whitelisted’ customers, which have passed Know Your Customer (KYC) protocols. Apr-2021: Badger DAO introduced Badger Bridge, a Bitcoin-to-Ethereum bridge. This bridge would enable Bitcoin (BTC) holders to bring the BTC to Ethereum and deposit it into yield-bearing vaults, with a single click. Scope of the Study Market Segments covered in the Report: By Component • Blockchain Technology • Decentralized Applications (dApps) • Smart Contracts By Application • Data & Analytics • Decentralized Exchanges • Payments • Stablecoins • Marketplaces & Liquidity • Compliance & Identity • Prediction Industry • Assets Tokenization • Others By Geography • North America o US o Canada o Mexico o Rest of North America • Europe o Germany o UK o France o Russia o Spain o Italy o Rest of Europe • Asia Pacific o China o Japan o India o South Korea o Singapore o Malaysia o Rest of Asia Pacific • LAMEA o Brazil o Argentina o UAE o Saudi Arabia o South Africa o Nigeria o Rest of LAMEA Companies Profiled • Aave • Balancer Labs • Compound Labs, Inc. • Badger DAO • Bancor • SushiSwap (Yearn Finance) • MakerDao • Synthetix • Curve Finance Unique Offerings • Exhaustive coverage • Highest number of market tables and figures • Subscription based model available • Guaranteed best price • Assured post sales research support with 10% customization free Read the full report: https://www.reportlinker.com/p06352722/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Story continues CONTACT: Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001 || The Three Cryptocurrencies Placed High By Most Traders Are Bitcoin, Stellar, and Dogeliens: The only task expected of you right now is; to sit tight and make yourself comfortable while we make a ride through these highly placed cryptocurrencies, including Dogeliens (DOGET). Bitcoin A Crypto Freedom Fighter The giant, Bitcoin (BTC) has contributed massively to the repetition of the world of cryptocurrency, since it first proved its unlimited chances of success a long time now. Bitcoin (BTC) represents many user benefits in diverse ways, including independence from central authority, no government regulations, accessibility, and global use cases. The upsides of Bitcoin (BTC) have been accepted by most traders; its haters inclusive, because its a decentralized network that positions users rightly in the financial world in such a way these users can profit without limitations. The absence of third parties there means no taxes, no seizure of assets, no high transaction costs, no risk for theft, no chargebacks, and many more. In other words, Bitcoin (BTC) is some kind of financial freedom flag-bearer; upholding what it feels like for users to be out of fiats binding chains. Stellar Cannot Be Stopped From Exploding Since its creation, traders have continued to match Stellar (XLM) to Ripples (XRP) as they are seen to move at a similar and thriving pace. Stellar (XLM) excels as a decentralized peer-to-peer network focusing on everyday transactions that are inexpensive, but worth the deal. There is a bucket list of many creative features Stellar (XLM) is responsible for, and one of which drops the jaw of most traders is Stellar Consensus Protocol (SCP). The Stellar Consensus Protocol (SCP) is Stellars algorithm strong enough to help users experience scalability, speed, and efficiency compared to several proof-of-work blockchains. It feels safe to know that the hands that crafted the first major Bitcoin (BTC) exchange called Mt Gox, are also behind Stellars existence. With Stellar (XLM), one can enjoy fast, nearly free transactions, a comfortable user experience, and a lot of them. Story continues Dogeliens Your Gateway To A Revolutionised Metaverse Dogeliens (DOGET) joins the campaign of bringing revolution to the metaverse by modifying the possible interesting features, especially in gaming. Powered by its native token, DOGET, Dogeliens users would be drawn to three lovely games available in its ecosystem which are named: Battle Zone, Dogelien World, and Walkies time. Well, the deed isnt done just by playing these cool games, but the passive strategies to enable users to earn income through play-to-earn (P2E) and the harvest of assets such as Non Fungible Tokens (NFTs) that can be traded for real values on its NFT marketplace. Additionally, Dogeliens (DOGET) plans to run a serious academy for educational purposes and more, by making available relevant educative content in various forms such as videos, articles, and podcasts, among others. Based on its multi-purpose and direct shots at rocking the metaverse for good, Dogeliens (DOGET) is weaponized to the moon once it finds its feet on major exchanges. In reaction, most traders have begun digging the foundation for their future by getting DOGETs now at presale rates which are cheap and come with a bonus. You should be one of those foundation-digging traders, so go get some DOGETs already. Dogeliens (DOGET) Presale: https://buy.dogeliens.io/ Website: https://dogeliens.io/ Telegram: https://t.me/DogeliensOfficial || Dogeliens – The Newest Addition To Binance Network Set to Offer Features Unavailable On the Bitcoin Network: Cryptocurrency is growing exponentially every day. This growth is evident in the number of projects springing up and gaining ground. This proliferation can be attributed to the richly rewarding opportunities it has to offer. Over the years, many millionaires have emerged from this space, attracting more users. Despite the significant growth experienced by these projects, analysts agree that cryptocurrency has yet to be fully adopted. A large percentage of humans are yet to leverage its features. Most people need to learn what cryptocurrencies are. One crypto project that will bring significant change is Dogeliens. Dogeliens is a meme coin project filled with many features and uses. It is capable of transforming this space and causing the crypto adoption surge. What features do Dogeliens have to offer? Let’s review this fantastic project and compare it with Binance and Bitcoin. The Next Big Meme Coin – Dogeliens Dogeliens is a meme coin project with a goal. It aims to promote the features of cryptocurrencies. Dogeliens also intends to extend its features to far-reaching parts of the world. The Dogeliens project will accomplish this feat and have far-reaching effects by leveraging the Binance Smart Chain network. With Binance, a next-generation crypto network, Dogeliens will be a fast and cheap transaction platform. This Binance integration also means Dogeliens can become widely used like Binance. A broad acceptance of Dogeliens and DOGET, its native cryptocurrency, will reward all its members and token holders. Dogeliens Educational Platform: The University Of Barkington Dogeliens follows the footsteps of Dogecoin as it leverages the Doge meme to thrive. To portray itself as a Doge-themed project, it has incorporated dog features into its project. One such incorporation is the name of its educational platform. The name “Barkington,” coined from “Bark,” describes an online academy in the Dogeliens. This academy is a means through which Dogeliens will make its features known to all interested parties. Story continues The academy will have a content rich in information on blockchain technology and how it can be utilized. Well-explained and informative videos on DeFi, NFTs, and the metaverse will be available for all its users. Most of these educational contents will be free for all. However, some lessons will be reserved to foster a commitment to the training. To access these lessons, applicants must hold some DOGET tokens. Dogeliens will not only teach people about cryptocurrencies but also aims to create content for general lessons. Videos and classes will help people learn reading, writing, mathematics, and geography skills. Dogeliens Next To Bitcoin And Binance While it is no news that Bitcoin is the pioneer project in this space, it has significant limitations. The developers of Bitcoin did not make its smart contracts enabled. This exception made it impossible to expand Bitcoin beyond its application as a peer-to-peer cryptocurrency. However, Ethereum introduced smart contracts, and subsequent blockchains embraced their utilities. Binance leverages smart contracts to thrive and grow. It regularly welcomes more projects into its ecosystem, allowing them to offer its unique utilities. Dogeliens is lucky to have leveraged this blockchain as its host. Although Dogeliens operates on Binance, it will be an interoperable platform on other blockchains. This interoperability will increase its use case allowing everyone to access its features seamlessly. Buy The Dogeliens Token Presale DOGET tokens are available on the Binance Smart Chain network. You will need a BSC-compatible crypto wallet to buy and store DOGET tokens. After creating and funding your crypto wallet, visit the Dogeliens official website and enter the presale portal. You’d have to Connect your funded wallet with the presale and initiate the transaction. Verify the number of tokens you want to buy and approve the transaction. The Dogeliens presale has plenty of opportunities to earn more DOGET tokens. For instance, you get a 15% bonus for paying with SOL and 22% for using BNB. An additional opportunity is opened for presale participants to earn more rewards. This opportunity involves inviting others to the presale. If a new participant accesses and buys the presale through your referral link, you can win a $50 bonus. The reward is received by both parties when the new user spends $250. If you have yet to take numerous opportunities to make money, keep Dogeliens from passing you. Its token presale is still in the first stage, and DOGET tokens are still cheap and easily accessible. Prepare to buy DOGET tokens before the presale ends. Dogeliens (DOGET) Presale: https://buy.dogeliens.io/ Website: https://dogeliens.io/ Telegram: https://t.me/DogeliensOfficial || The Author Of Rich Dad, Poor Dad Is Accumulating Bitcoin To Survive The Impending Economic Crash: When Robert Kiyosaki, along with Sharon Lechter, published Rich Dad, Poor Dad in 1997, he changed the way people looked at investing, real estate, and entrepreneurship. The book was more than a self-help it contained financial advice given in parables. Kiyosaki writes in the book that he has acquired all the financial knowledge through his friends father, the rich dad. Contrary to him, his own dad poor dad worked hard all his life but couldnt create financial security for himself. The book has sold more than 32M copies worldwide in the last 25 years. And now, Kiyosaki has gone forward and warned the world that the dollar, gold and real estate will crash due to the fiscal reserve policies. However, as a good financial advisor and teacher, he has a solution as well. Its simple: Bitcoin. Kiyosaki stated that investors could store their wealth in Bitcoin, noting that the flagship cryptocurrency protects wealth as it is a good store of value. It wont be surprising if investors flock towards Bitcoin (BTC), Avalanche (AVAX) or Big Eyes Coin (BIG) instead of buying stocks of coca-cola or investing in pricey real estate. Kiyosakis Thoughts On Bitcoin The rich dad of cryptocurrencies, Bitcoin, paved the way for the endless influx of new coins such as Ethereum, Cardano, Avalanche, and more. Bitcoin also inspired meme coins like Dogecoin, which was essentially launched to mock cryptocurrencies. Ironically, Dogecoins market cap rose to over $84B, making it one of the most valuable meme coins in the market. And now, after 14 years of its launch, Bitcoin is proving to be one of the only ways out of the economic crisis. Kiyosaki believes that people will have to adapt to new ways to survive the financial crash. Adopting Bitcoin will not create income, he believes. As people will have to find side hustles. However, Bitcoin will protect peoples current wealth. Stocks, bonds and real estate will crash, he insists. The reason for this is that the Fed Reserve continues to raise interest rates, and it will kill the economy, Kiyosaki tweeted. Why Bitcoin Matters? The amount of money invested in Bitcoin, close to $30B at the time of writing, makes it impossible for the crypto to go obsolete or nil. Moreover, Bitcoin makes it easier to exchange money or assets between unknown parties. Because the transactions will be mined on a robust blockchain, it minimises any chances of fraud or scam. The left and liberal front of every country has especially admired Bitcoin for its decentralisation. It dissolves the need for any intermediary between transactions, challenging the governments and the traditional financial system. Story continues Apart from the developed countries, there are many regions where banking systems are still not robust. They lack technology, manpower and expertise. Bitcoin provides a way out of the mess in such fractured economies. Major retailers are experimenting in the crypto space. Gucci, KFC, Microsoft, and more have started accepting Bitcoin as an alternative method of payment. Just last year, TIME Magazines President, Keith A. Grossman, announced that he will be accepting his salary in Bitcoin. Are There Alternatives To Bitcoin? Certainly. If the world ran out of alternatives, the economy would collapse. As regular milk has alternatives such as almond milk and oat milk, Bitcoin has plenty. Ethereum was launched to solve the problems that Bitcoin didnt have an answer to. At its core, Ethereum is a decentralised global software platform powered by blockchain technology. It is most commonly known for its native cryptocurrency, ether (ETH). Many contemporary cryptocurrencies are running on the Ethereum blockchain as it provides a platform to create dApps and run ledgers with minimal fuss. Another alternative to Bitcoin, according to market analysts, is Big Eyes Coin (BIG). A fairly new token in the market, Big Eyes Coin is a community-driven meme token that intends to put wealth in the DeFi (Decentralised Finance) ecosystem. Compared to Bitcoin, Big Eyes Coin wins in the race for social responsibility. Critics have panned the mining process of Bitcoin as it contributes to global warming. On the other hand, Big Eyes Coin realises its responsibility towards the natural ecosystem. The meme token has pledged to donate a significant portion of wallet profits towards ocean preservation projects. To Sum Up According to R. Kiyosaki, the bestselling author, the world might soon face an economic crisis like never before. He has tightened his belts to grapple with the situation, and he advises the same to other investors who are looking to lead a stable life. Invest in Bitcoin and Big Eyes Coin today to maximise the surplus potential. Use the code BIG174 to earn bonus BIG coins on your purchase! Click on the links below to enter the presale! Presale: https://buy.bigeyes.space/ Website: https://bigeyes.space/ Telegram: https://t.me/BIGEYESOFFICIAL View comments
[Random Sample of Social Media Buzz (last 60 days)]
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Trend: no change || Prices: 17088.66, 16908.24, 17130.49, 16974.83, 17089.50, 16848.13, 17233.47, 17133.15, 17128.72, 17104.19
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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]
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[Random Sample of News (last 60 days)]
7 Best Gold Stocks to Buy for Fighting Inflation: Although precious metals-related investments have been relatively disappointing over the trailing two years, the best gold stocks to buy could make a significant comeback due to myriad factors, most notably inflation.
Recently, Treasury Secretary Janet Yellen made astunning admission, declaring that she misread the threat that rising prices would pose to the economy. This is in regards to her comments from March 2021, when Yellen described inflation as a “small risk.”
Today, though, we know better. Gasoline prices have soared through the roof, while the cost of everything else has also jumped conspicuously. And withwages not keeping pace with the cost spikes, households have few options other than to tighten spending. Naturally, this dynamic poses hardships on companies that depend on strong consumer sentiment, thus raising the specter of mass layoffs.
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In fact, several companies have already announced planned reductions in their workforce. Others are approaching the hiring process in a more calculated manner, meaning that the best gold stocks to buy can benefit from the fear trade. Circumstances don’t look too bright, forcing many to seek the universal safe haven.
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Of course, no one asset class is perfectly safe. Still, with so much uncertainty ahead, it’s time to consider these seven best gold stocks to buy.
[{"Ticker": "NEM", "Company": "Newmont", "Price": "$67.31"}, {"Ticker": "GOLD", "Company": "Barrick Gold", "Price": "$20.84"}, {"Ticker": "AU", "Company": "AngloGold Ashanti", "Price": "$17.47"}, {"Ticker": "AEM", "Company": "Agnico Eagle Mines", "Price": "$53.15"}, {"Ticker": "GFI", "Company": "Gold Fields", "Price": "$9.60"}, {"Ticker": "WPM", "Company": "Wheaton Precious Metals", "Price": "$41.67"}, {"Ticker": "SBSW", "Company": "Sibanye Stillwater", "Price": "$12.09"}]
Source: Piotr Swat/Shutterstock
Since the precious metals mining sector can be incredibly volatile, it pays to focus the bulk of your commodities-focused portfolio on established entities. Under this context, you probably can’t go wrong withNewmont(NYSE:NEM), a company that features the largest gold reserve base in the metals mining industry. As such, acquiring shares of NEM yields far more convenient exposure to gold than lugging around physical bullion.
Better yet, Newmont has been delivering the goods financially. In the first quarter of 2022, it posted sales of $3 billion, up over 5% from the year-ago quarter. Operationally, the companyproduced 1.34 million attributable ounces of goldand 350,000 attributable gold equivalent ounces from co-products. Just as significantly, management stated that it’s on track to achieve full-year guidance ranges.
Overall, NEM is up more than 9% on a year-to-date (YTD) basis and appears to be working through prior volatile sessions. For a combination of strong fundamentals and capital gains potential, NEM is one of the best gold stocks to buy for fighting inflation.
Source: Piotr Swat / Shutterstock.com
Commanding a market capitalization of nearly $37 billion,Barrick Gold(NYSE:GOLD) is a powerful and influential player in the mining industry. Barrick has operating sites in18 different countries, enabling shareholders to enjoy a diversified footprint. In addition to its namesake asset, the company is a major copper producer, a metal that has significant implications for the future, particularly if electric vehicles become widely integrated.
In its Q1 earnings report, Barrick reported revenue of $2.85 billion, down more than 3% from the year-ago level. According to the company’s financial disclosure presentation, it suffered a depletion of higher-grade ore due to a mechanical mill failure. As well, Barrick suffered from higher energy prices and global supply challenges due to Russia’s invasion of Ukraine.
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Still, these might be temporary setbacks. Notably, management disclosed that Barrick’s gold production would probably be weakest in Q1. Most critically, itstood by its 2022 guidancefor gold and copper production. Therefore, investors should be able to trust GOLD as one of the best gold stocks to buy.
Source: aerogondo2 / Shutterstock.com
An independent global gold mining firm,AngloGold Ashanti(NYSE:AU) was formed in 2004 by a merger between AngloGold and the Ashanti Goldfields Corporation. Currently, the producer of the precious metal has16 operationscovering four continents, making it a formidable player among the best gold stocks to buy to fight inflation.
Still, AngloGold has been going through a rough patch recently, making it one of the riskier ideas in the segment. On a YTD basis, AU has dropped more than 17%, which is slightly worse than the performance of the benchmarkS&P 500during the same period. Not helping matters was a rather disappointing year in 2021, with the companygenerating sales of $4 billion, down 9% against 2020’s result.
However,circumstances are improvingfor AngloGold. In Q1 2022, the mining firm produced 588,000 ounces of gold, matching the year-ago quarter’s output. However, the gold price received per ounce in the most recent quarter was over 5% higher year-over-year (YOY). Therefore, AU is in a better position to attract speculative interest.
Source: Shutterstock
One of the top-tier names in the precious metals sector,Agnico Eagle Mines(NYSE:AEM) tends to fly under the radar relative to other companies classified as the best gold stocks to buy. Presently, Agnico has a market cap of slightly over $24 billion, providing stability in an often-choppy market segment.
Overall, AEM stock is basically flat since the beginning of January. That might change, though, since Agnico has been bringing home the goods. In Q1 of this year, the mining firm rang up $1.3 billion in sales, up almost 40% YOY. According to the company’s press release, its payable gold production amounted to 660,604 ounces.
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Furthermore, management reported that several key cornerstone assets delivered strong operational performance in Q1. If inflation continues to wreak havoc on the company, the implication is that Agnico will be a huge beneficiary from possibly higher gold prices. Therefore, keep AEM on your list of the best gold stocks to buy.
Source: Shutterstock
Though most of the major gold-mining firms feature similar fundamentals — and therefore technical performances —Gold Fields(NYSE:GFI) has been an anomaly this year. On a YTD basis, GFI is down 13%, with the pain coming just before Memorial Day weekend.
AsBloombergreported, GFI shares tumbled after the issuing companyagreed to buyYamana Gold(NYSE:AUY) for $7 billion in an all-stock deal. It would make Gold Fields the world’s fourth-biggest gold producer, which in theory bodes well for GFI. However, it’s possible that investors thought dimly about companies making aggressive acquisitions during a rough economic cycle.
Nevertheless, over the long run, GFI could still be one of the best gold stocks to buy because the deal appears to be a good one. With Yamana being Canada’s biggest gold mine, GFI would command an impressive footprint. As well, Canada is one of the most jurisdictionally stable regions of the world, which must be taken into account under the current geopolitical paradigm shift.
Source: Postmodern Studio / Shutterstock
While the image of the best gold stocks to buy tends to conjure up metals producing firms,Wheaton Precious Metals(NYSE:WPM) instead adopts a streaming business model. Under this setup, Wheaton secures a share of future production at a predetermined discounted price in exchange for capital. Therefore, streaming firms enjoy greater cost predictability than pure metals producers, which may be subject to the whims of the free market.
One of the better performing gold stocks during the early part of the new normal, Wheaton has encountered some headwinds this year, slowing its performance to a loss of 1% YTD. In Q1 2022, it posted revenue of $307 million, down over 5% against the year-ago quarter. In gold equivalent ounces, it produced 171,367 ounces, down 13% YOY.
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Still, investors shouldn’t give up on WPM stock. Management reported that in Q1, Wheatonadded two new streamsand increased its interest in a pre-existing stream. Therefore, if inflation rears its ugly head — and it is a likely scenario — WPM stock could easily benefit.
Source: Shutterstock
I don’t want to sugarcoat it. The reason I stuckSibanye Stillwater(NYSE:SBSW) last on this list of the best gold stocks to buy to fight inflation is that, in my view, it’s the riskiest. At a time when distractions are seriously unwanted, Sibanye Stillwater has a massive one in the form of a$1.2 billion claimthat it withdrew from a transaction in an unacceptable manner.
Diving into the granularity of a legal matter tends to be a fool’s errand so I’m not going to play. But that’s not the only issue with the company. Workers have beenstriking at the firm’s gold mineslocated in South Africa, presenting huge operational concerns as well as potential reputational damage.
So, why bother with SBSW stock? Well, the underlying company has a strong position in platinum and palladium.
Indeed, with Russia out of the global supply chain loop, demand for these metals will likely swing higher because of supply disruptions. Moreover, they undergird automotive production, being a critical component of catalytic converters. Since EV integration will take time, SBSW stock finds itself exceptionally relevant despite the troubles.
On the date of publication, Josh Enomotoheld a LONG position in gold.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
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The post7 Best Gold Stocks to Buy for Fighting Inflationappeared first onInvestorPlace. || Can the Reappearance of Bitcoin Whales Push BTC to $40K?: • Bitcoin whales’ transaction volume has reduced to less than $100 billion.
• Before the crash, the average used to be $200 billion.
• At the moment, BTC is trading at $20,481.
As it happens to be the king coin,Bitcoinis supposed to be calling the shots in thecryptomarket. However, recently the helm has been at the mercy of the altcoins, and since altcoins can’t always be the driving force, Bitcoin has been stuck at $20k for almost a month now.
To investors’ joy, there is a way out of this, and it rides on the back of Bitcoin’s whales. The cohort, which holds about 4.5 million BTC worth about $92.1 billion, represents 21% of the entire existing supply of BTC.
Thus their movements not only have an effect on Bitcoin’s price action but on the whole crypto market as well.
Back in April, when BTC marked its local top of $47.4k, whales, on average, were conducting transactions regularly and generating volume to the tune of $200 billion.
This continued until May when the crypto market crashed post when the volume noted a steep drop off.
By the beginning of June, the average whale transaction volume was reduced to a meager $100 billion, and at the time of writing, the same is sitting at just $66.4 billion.
A spike was noticed in the week ending June 20 when BTC tanked to its lowest point of $19.3k, and the volume jumped to $377 billion but came back down soon after.
Thus if Bitcoin intends on returning to its highs or at least to the point from where it can bounce off towards the $67k all-time high, whales are needed to become active again.
Should their transaction volume climb back to $200 billion on average, BTC too will jump to $40k provided there is support from the broader market.
Trading at $20.4k, BTC has been in consolidation since June 16. The coin has risen by 6.8% from its $19.3k lows and still stands filed away from recovering the 40% loss of June.
The price indicators do not paint a definite image either since the Relative Strength Index (RSI) has been facing selling pressure for almost three months now. This has kept the indicator under the neutral line and stuck in the bearish zone.
To add to that, the Bollinger Bands aren’t highlighting any bullishness either, meaning BTC might remain to consolidate for a while longer.
Thisarticlewas originally posted on FX Empire
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• Top 3 Trending Coins: AVAX Outperforms, Eyes Push Above $20 as ETH & SOL also Surge || Hycroft Mining: Invest the Money You Can Afford to Lose: Investors are picky in the current environment. Spooked by rising inflation and interest rates, value stocks are getting the most attention. Therefore, despite some enticing elements, one cannot give a thumbs up to Hycroft Mining Holding Corporation (NASDAQ: HYMC ) stock. The silver and gold miner gained notoriety when AMC Entertainment (NYSE: AMC ) purchased a 22% stake in the company . Both AMC and HYMC are Reddit darlings . However, Hycroft Mining’s stock price has fallen substantially after rallying in the middle of March when AMC Entertainment and key investor Eric Sprott helped spark the parabolic rally. The fact that AMC Entertainment and Eric Sprott have both invested in the miner shows how much they value the company. Using the funds, it was able to repay some of its debts and invest in exploration, which is vital for future growth. HYMC is looking into building processing facilities at its mining sites. This would eliminate the need for it to ship its minerals to other facilities for final processing before being sold. InvestorPlace - Stock Market News, Stock Advice & Trading Tips At the moment, investors are patiently waiting for any news about the progress made by Hycroft Mining. Until then, HYMC is expected to stay risky. Meanwhile, Eric Sprott has sold five million shares for $6.37 million. This is not great news for HYMC since he is a major shareholder. It only adds to the woes of the miner, which needs positive catalysts to make a bounce-back. Ticker Company Price HYMC Hycroft Mining Holding Corporation $1.10 Why Is HYMC Stock on the Rise? Retail investors and traders are interested in the company because of its vast resource base and potential for rising gold prices. The Russia-Ukraine conflict has led to a sharp increase in the price of gold and silver, a positive tailwind for HYMC, according to bulls. The other major reason bulls are touting it is the company’s reputation as a Reddit favorite. 7 REITs to Buy for a Bear Market Story continues Undoubtedly, both these reasons can have a huge impact on the stock price. However, there is no guarantee both of these factors will influence the stock market moving forward. Hycroft Mining owns a gold and silver project that began as a small heap leach operation in 1983. In 2021, Hycroft Mine increased its production of gold and silver to 55,668 ounces and 355,967 ounces , respectively. That is hardly a huge amount. Hycroft Mining has released the results of its initial assessment of the mine. It was able to conclude an estimate of 15.3 million ounces of gold in the measured and indicated categories, along with another estimated 7 million ounces in the inferred category. However, the grades are low and no one knows how much it can recover at the prevailing prices of gold. It will require a substantial capital investment, which the company does not have. HYMC Stock Is a Pure Momentum Play It’s difficult to predict the trajectory of HYMC stock since it is subject to Reddit-induced rallies. As per Louis Navellier, the company does have access to lucrative reserves . That makes the company one to watch. However, he also correctly points out that it will take a lot of money to take out these precious metals for processing. If the company wants to take advantage of the situation, it will have to issue massive equity to finance its operations. If you believe the situation is impossible, you haven’t been following Reddit mania. However, should you play along? It’s a classic situation of only investing the money you can afford to lose and sitting tight for any Reddit-induced bumps along the way. On the publication date, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . More From InvestorPlace $200 Oil Sooner Than You Think – Buy This Now The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” It doesn’t matter if you have $500 in savings or $5 million. Do this now. The post Hycroft Mining: Invest the Money You Can Afford to Lose appeared first on InvestorPlace . || Jay-Z and Jack Dorsey launched a Bitcoin academy in a public housing complex: Twitter co-founder andBlock CEO Jack Dorsey is teaming up with artist Jay-Z (Shawn Carter) to launchThe Bitcoin Academyat Marcy Houses, the public housing complex in Brooklyn, New York where Jay-Z grew up.
The initiative aims to provide financial education with an emphasis on Bitcoin as a path to financial freedom, featuring free in-person and online classes taught by Lamar Wilson, who runs content site Black Bitcoin Billionaire, and Najah J. Roberts, founder and CEO of event and education space Crypto Blockchain Plug. The program will run twice per week in late June through September, and program participants will be provided smartphones, MiFi devices and a one-year data plan. There's even a weekend program aimed toward children.
Dorsey and Jay-Z are longtime collaborators and Bitcoin evangelists. Besides working on TIDAL, which Jay-Z sold to Dorsey, the duo deployed a500 BTC investmenttogether last year with an emphasis on developing the cryptocurrency's popularity in India and Africa. But The Bitcoin Academy is funded via personal grants from the two entrepreneurs.
Still, the promise of the cryptocurrency as a secure route to economic stability for low-income populations is far from guaranteed.
Given thevolatilityof cryptocurrency and the prevalence ofscams, there is concern that this project could negatively impact participants, even if it's well intentioned. Crypto builder Austin Robey put it this way: "If you asked Marcy Houses residents how to best meet their needs, how many would say 'a bitcoin class'?"
"The simple goal is to provide people tools to build independence for themselves and then the community around them," Jay-Z wrote in a tweet.
A spokesperson for The Bitcoin Academy told TechCrunch that participants will be granted a small amount of Bitcoin, but that the project is intended to be educational. The nature of the program will depend on who signs up -- for example, they may host a class in Spanish -- and will go over the basics of what cryptocurrency is, how does the blockchain work and how to spot a scam. The teachers aren't necessarily telling Marcy residents to invest in crypto, but it's not a stretch to see how that sort of guidance can be implied.
Some vulnerable populations -- like immigrants and the unbanked -- can be curious about crypto as an alternative to traditional banks, which have high international transaction fees and often require legal documents to access. Though more wealthy investors may be able to safely weather the dips and spikes of cryptocurrency, a market crash will have a more immediate, potentially catastrophic effect for those who are making transactions with their bitcoin on a regular basis.
In El Salvador, about 70% of the population is unbanked, yet after the country becamethe first to adopt Bitcoin as legal tender last year, residents haven't witnessed the economic progress they hoped for. The International Monetary Fund has even encouraged the country to remove Bitcoin as legal tender,citing the riskof inflation and lack of consumer protection. The Central American country is expected to pay back an$800 million sovereign bond in January 2023, but some analysts think the country might default on its loan.
"I actually don't blame marginalized communities who end up believing a lot of the hype and promises [around crypto]," said Tonantzin Carmona, a fellow at Brookings Metro who studies race, income inequality and social mobility. "It's understandable that they seek alternative outlets for generating wealth or making payment transactions. But that doesn't mean that the alternative is actually better, that it's safer or that it's actually going to help them accomplish their goals."
Carmona observes a connection between the promise of crypto-driven financial freedom and "predatory inclusion," a term coined by Princeton University professor Keeanga-Yamahtta Taylor to describe housing discrimination. Even after the reversal of racist policies like "redlining," which regulated where Black homeowners could build and purchase homes, Black people remained subject to unfairsubprime loans, which specifically targeted communities of color.
"I see cryptocurrencies as part of that legacy of predatory inclusion," Carmona told TechCrunch. "That access does come with a cost. They're saying you're going to have financial freedom, but that also means you're getting access to cryptocurrency's volatility and complexity. You're getting access to a space that is rife with scams, fraud, hacks and all sorts of things, because there aren't consumer protections in place as the technology currently stands."
TechCrunch asked The Bitcoin Academy if there will be any safeguards to make sure residents don't experience negative financial impact from the project. While there are no formal protections for participants, the program spokesperson emphasized that the point of centering the program around education is to avoid these bad potential outcomes.
Though the program is funded by Dorsey and Jay-Z, the academy will function day to day with the help of a small staff at the Shawn Carter Foundation, led by Jay-Z's mother Gloria Carter as co-founder and CEO.
"The Shawn Carter Foundation has always been about providing educational access and opening doors of opportunity to underserved communities," Carter said in astatement. "Everyone should be empowered to make informed financial decisions in order to take care of themselves and their families."
Jack Dorsey and Jay Z invest 500 BTC to make Bitcoin ‘internet’s currency’ || Morning Crypto Briefing: Altcoins Tumble As ETH Breaks Below $1,900, BTC Holds Firm: • Despite a benign broad market reaction to Wednesday’s Fed minutes, crypto markets are pressured on Thursday.
• Altcoins are behind most of the decline, with ethereum breaking below $1,900 support.
• By contrast, Bitcoin is holding within recent ranges near $30K, while its market dominance has risen to multi-month highs.
The broad market reaction to Wednesday’s Fed meeting minutes release was benign. US equities have been able to push a little higher from recent lows, US government bond yields continue to ease to fresh monthly lows (with the 10-year probing 2.70%), while the Dollar Index (DXY) remains close to monthly lows under 102.00.
Analysts said the minutes contained few surprises and indicated that FOMC members broadly support 50 bps hikes at the next two meetings and rates reaching neutral by the year’s end. Some said the tone of the meeting minutes lent itself towards FOMC members favoring a pause (or slow down) in hiking once the Fed gets rates back to neutral, as it reassesses the need for further tightening.
For a market fearful that the Fed will dive headlong into taking interest rates to outright restrictive territory in early 2023 (i.e. above 3.0%), this appears to have come as a relief, hence the benign market reaction.
Sadly for the crypto bulls, (modest) upside in equities and (modest) further downside in bonds and the US dollar has not been enough to lift crypto sentiment. Indeed, total cryptocurrency market capitalization briefly fell to its lowest level in more than two weeks under $1.20 trillion on Thursday.
At the time of writing, total crypto market cap is around just under $1.21 trillion, down nearly 3.0% on the day. Admittedly, recent downside doesn’t represent a convincing bearish breakout below recent $1.20-$1.35ish trillion ranges.
In the immediate future, so long as this week’s macro trends continue (i.e. gradually rising stocks, falling yields, and a weakening US dollar), cryptocurrency markets are expected to remain supported within recent ranges.
Aside from the potential for more cryptocurrency regulation chatter at the final day of the World Economic Forum and a speech from Fed Vice Chairwoman Lael Brainard later in the day on central bank digital currencies, crypto traders will mostly be focused on US economic data.
The second estimate of US GDP growth in the first quarter of the year will be released at 1330BST, ahead of the release of US April Core PCE inflation data (the Fed’s favored inflation gauge) on Friday.
Analysts have warned that economic data presents two-sided risks to stock and crypto markets at the moment. Firstly, if data signals weaker than expected US economic growth and triggers recession fears, that could hurt risk assets (like crypto and stocks). Bulls will be hoping that US Q1 GDP data, which is already expected to show a contraction in the size of the economy last quarter, doesn’t receive any negative revisions.
Secondly, lots of analysts have been talking about how they think inflation has peaked and should Friday’s Core PCE report support this narrative, this could trigger some relief risk assets as traders wind in their hawkish Fed bets.
Bitcoinis holding up better than the broader crypto market on Thursday and was last only down about 1.0% in the $29,200 region per token, leaving it still well within recent $28,750-$31,400ish ranges. That means bitcoin maintains a market cap of around $550 billion.
Ethereum, by contrast, was last trading over 5.0% lower on Thursday in the low $1,800s per token, having broken below recent support at the $1,900 level. The recent break lower appears mostly technical, with the cryptocurrency having formed something of a descending triangle in recent sessions (which often precedes bearish breakouts).
ETH/USD is now eyeing a test of monthly lows around the $1,700 level. The world’s second-largest cryptocurrency currently has a market cap of around $220 billion.
Other altcoins have also been suffering. The likes of Binance’sBNB, Cardano’sADA, Polkadot’sDOTandDogecoinwere all last down in the region of 6.0% over the last 24 hours, CoinMarketCap data on Thursday suggested. Solana’sSOLwas last down about 10% over the same time period.
As a result of altcoin underperformance, which is reflective of risk-off flows or a so-called “flight to quality” within the crypto space, bitcoin’s crypto market dominance jumped on Thursday to above 46%, its highest level since October 2021.
Major US investment bank JP Morgan is bullish on bitcoin in the short and long-run, analysts at the bank said in a note released on Wednesday. Strategist Nikolaos Panigirtzoglou said that the bank think’s the cryptocurrency’s fair value in the short-run is around $38,000, around 28% higher than current levels under $30,000.
Moreover, its long-term price estimate for bitcoin is $150,000. Panigirtzoglou said that digital assets have replaced real estate as the bank’s preferred alternative asset class.
Back on 16 May, Terraform Labs CEO and Terra blockchain founder Do Kwon proposed a so-called “Revival Plan” which would see the creation of a new Terra blockchain that wouldn’t be linked to an algorithmic stablecoin. The proposal (Proposal 1623) to create Terra 2.0 was approved on Wednesday by the Terra community by 65.55%.
LUNAtokens on the new Terra blockchain will be allocated to holders of LUNA andUSTin an airdrop according to two snapshots, the first prior to Terra 1.0’s collapse at 14:59:37 UTC on 7 May and the second after the collapse at 19:59:51 Bejing time on 26 May.
The genesis of the new Terra 2.0 blockchain will occur on 27 May. Various crypto exchanges (including FTX, KuCoin and Binance) have been lining up to say they will work with Terra to support the migration and airdrop, as well as support trading in the new LUNA token.
On Wednesday, Portugal’s Congress rejected two opposition-sponsored bills that sought to put a tax on cryptocurrencies. The country’s ruling Socialist Party, which holds a majority in Congress, is yet to submit its own proposal for the taxation of crypto after the Portuguese Finance Minister Fernando Medina said that new tax plans would be coming in the near future.
Portugal has up until now been viewed as somewhat of a crypto tax haven in Europe, given its effective capital gains tax of 0% on crypto investments. Its capital gains tax on traditional financial investments is 28%. Any new crypto tax proposal is expected to contain a new capital gains tax.
Circle Interest Financial, the issuer of the world’s second-largest US dollar-backed stablecoin by market cap (around $53.4 billion) USDC, sent a letter to the US Federal Reserve on Wednesday arguing that it should refrain from the creation of its own digital dollar. “A host of companies, including Circle, have leveraged blockchain technology to support trillions of dollars of economic activity with fiat-referenced stablecoins,” the company said, adding that USDC is already fulfilling “many of the potential benefits” of a central bank digital currency.
“The introduction of a CBDC by the Federal Reserve could have a chilling effect on new innovations,” Circle continued. Moreover, the company argued that USDC supports the US dollar’s position as the world’s leading reserve currency.
In further international regulatory news, Paraguay’s lower house of its legislative body approved a modified bill that will regulate the country’s crypto mining and trading industries. The bill will now return to the country’s Senate with modifications and, once approved, will go to the executive branch for approval. Paraguay’s government hasn’t yet signaled whether it plans to sign or veto the bill.
One of the authors of the bill last year told various members of the crypto press that the aim of the legislation is to attract international crypto miners to the country, given it has amongst the cheapest electricity rates in all of Latin America of around 5 cents per kilowatt-hour.
Elsewhere, Thailand just approved a 7.0% VAT exemption on cryptocurrency transactions through exchanges that is set to last into 2023. Meanwhile, Binance is reportedly working with Kazakhstan to help develop a legislative and regulatory framework.
Thisarticlewas originally posted on FX Empire
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• Gold Price Forecast – Gold Markets Continue to Look for Buyers || A rally in bitcoin and ether push crypto market cap back above $1 trillion as digital assets struggle against bear market: • The market value of cryptocurrencies reclaimed the $1 trillion threshold on Monday for the first time since June 13.
• Monday's more than 5% rally in both bitcoin and ether helped drive broad gains across the crypto sector.
• The gains come amid a devastating bear market that erased more than $2 trillion in value and led to several bankruptcies.
A big rally in bothbitcoinandetheron Monday helped drive the cryptocurrency market value back above the $1 trillion thresholdfor the first time since June 13.
Monday's gains should be a welcome sign to crypto investors, as they have had to deal with a devastating bear market over the past nine months. The ongoing bear market in crypto has erased $2 trillion in market value and led to severalbankruptcies among crypto firms like Celsius, Voyager Digital, and Three Arrows Capital, among others.
Those bankruptcies, combined with the more than 70% price crashes in popular crypto tokens, have led to declining confidence in the sector among investors. But that could slowly turn around if bitcoin and ether show signs of reversals.
Bitcoin jumped more than 5% to cross above $22,000 on Monday, representing its highest level since early June and giving credenceto the idea that $20,000 may hold as an important support levelfor the crypto token. That same level acted as area of significant resistance during bitcoin's late 2017 bull market rally, and in technical analysis, old resistance tends to become new support (and vice versa).
Meanwhile,ether surged 12% to about $1,500 amid growing anticipationabout an upcoming network update following comments from an Ethereum Foundation member last week. The cryptocurrency is up more than 50% from its lows over the past month.
Investor sentiment often follows prices, so if the rally in bitcoin and ether can hold, it could lure more investors back into the space and create buying pressure that helps drive a broad recovery in the space.
Confidence is also building up as crypto billionaire Sam Bankman-Fried lends money to various crypto firms that have seen funding run dry,including BlockFi,a crypto lender that had too much exposure to failing crypto projects amid the sell-off.
Bitcoin and ether's gains slowly spread to other cryptocurrencies on Monday, with most coins that had at least a $1 billion market value moving higher than lower, according todata from CoinMarketCap.
The gains in bitcoin and ether also spread to crypto stocks likeCoinbaseandMicroStrategy, which both surged about 15%.
Read the original article onBusiness Insider || The 7 Best ETFs to Buy in June: No matter what the underlying circumstances, exchange-traded funds typically represent a solid idea for investors, because they offer exposure to a basket of stocks rather than a specifically focused wager. But during volatile cycles such as now, the best ETFs to buy can help you survive the uncertainty in the equities market — and potentially thrive.
As mentioned earlier, ETFs promote exposure to several stocks. Therefore, if a few duds threaten to drag down your portfolio, you have other securities to help hold the line. Of course, the opposite is also true. If you have a few standout winners, you would have been better off just buying those names individually. Nevertheless, stock picking is tough business, which is why the best ETFs to buy are so popular.
To be clear, you can’t just pick any ETF and go on your merry way. If the fund is associated with a basket of losers, you’re going to drown in red ink. But as we navigate these treacherous waters, certain segments of the economy clearly look better than others.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Below are some of the best ETFs to buy in June.
[{"USO": "XOP", "United States Oil ETF": "SPDR S&P Oil & Gas Exploration & Production ETF", "$88.25": "$162.90"}, {"USO": "KIE", "United States Oil ETF": "SPDR S&P Insurance ETF", "$88.25": "$40.16"}, {"USO": "XLV", "United States Oil ETF": "Health Care Select Sector SPDR Fund", "$88.25": "$129.69"}, {"USO": "ITA", "United States Oil ETF": "iShares US Aerospace & Defense ETF", "$88.25": "$104.58"}, {"USO": "GLD", "United States Oil ETF": "SPDR Gold Trust", "$88.25": "$171.71"}, {"USO": "VICE", "United States Oil ETF": "AdvisorShares Vice ETF", "$88.25": "$27.74"}]
Source: Shutterstock
One of the easiest names to consider for best ETFs to buy, theUnited States Oil ETF(NYSEARCA:USO) has always been relevant due to our ravenous consumption of fossil fuels. However, the unique dynamics of the coronavirus pandemic, combined with global oil supply disruptions and the skyrocketing inflation rate have created a once-in-a-blue-moon catalyst for USO.
Indeed, USO is up nearly 63% year-to-date through the June 6 session. Over the trailing year, the fund is up over 87%. Trading in oil futures contracts, the USO ETF should have a bright future because of economic realities. Mainly,vehicle miles traveledhave returned to pre-pandemic levels while fossil-fuel alternatives — such as switching to electric vehicles — are really out of the reach for most households, given thatnew EV transaction costs are now $60,000.
Whether we like it or not, high oil prices will probably be a long-term fixture until supply demand dynamics normalize. Let’s just say I’m not holding my breath.
Source: Shutterstock
Following Russia’s unprovoked attack on Ukraine, European policymakers did what was natural:fast-track sustainable energy initiativesto help wean off Russian hydrocarbon dependency on the road to eventual energy independence. While this sentiment is completely understandable, it’s also aspirational. Building such infrastructure will take time and money. In the meantime, we can start fishing for what works.
That’s the cynical angle behind theSPDR S&P Oil & Gas Exploration & Production ETF(NYSEARCA:XOP). As as important as climate change and environmental justice are, sacrificing economic viability to achieve said gains is politically dangerous. Especially at this juncture, consumers want lower (or at least reasonable) energy prices.
To get there, increased oil and gas exploration investments could be key. Not only would this boost overall production, the infrastructure for hydrocarbons is already built out. Therefore, the XOP fund may qualify as one of the best ETFs to buy in June.
Source: Valeri Potapova / Shutterstock.com
After a pair of exciting ideas, let’s slow it down a bit with theSPDR S&P Insurance ETF(NYSEARCA:KIE). Let me get this out of the way: KIE is downright boring. Tied to its namesake insurance industry, this ETF is not going to get your blood racing.
However, boring is good when it comes to potential recessionary cycles. Moreover, the current economic backdrop may specifically favor KIE, and that’s because of the Federal Reserve. After expanding themoney stockto an unprecedented level, the Fed now has the unenviable job of scaling back the froth without causing harm to the economy. At the very least, the central bank is committed to gradual increases in the benchmark interest rate.
That will likely help insurance stocks, which tend to share alinear relationshipwith interest rates: The higher the rate, the greater the growth. Thus, keep close tabs on KIE as one of the best ETFs to buy.
Source: Shutterstock
Although the broader healthcare sector is incredibly relevant, picking out individual stocks to buy can be difficult due to several variables contributing to the overall picture. That’s why theHealth Care Select Sector SPDR Fund(NYSEARCA:XLV) is appealing, giving investors exposure to a basket of pharmaceutical, medical equipment and health insurance companies.
To be fair, the XLV ETF is not off to a great start this year, declining nearly 8% year-to-date. Some of the issues could stem from controversies affecting certain names within the XLV’s core holdings. Having said that, healthcare is a vital sector. Recent events may also help push this ETF back into the black.
For one thing, Covid-19 cases are still ongoing, possibly benefitting XLV-listed vaccine developers. Moreover,monkeypox caseshave sprouted rather quickly and alarmingly, inspiring pharmaceuticals to cook up a solution. Since monkeypox produces revolting physical symptoms, people will be presumably predisposed to vaccinate against the virus.
Source: Shutterstock
Although there are no guarantees — even with the best ETFs to buy — theiShares US Aerospace & Defense ETF(BATS:ITA) in many ways sells itself. Obviously, with Russia’s invasion of Ukraine, the action disrupted the modern global order. With no end to the war in sight, defense contractors essentially have an organic marketing opportunity, to put it cynically.
On the other side of the world, President Joe Biden made a startling disclosure, providingclarity regarding on U.S. military policy toward Taiwan. Essentially, Biden stated that he would direct U.S. forces to protect the island territory from a Chinese assault, sending ripple effects throughout the globe. Obviously, China was none too impressed with the pivot from prior ambiguous policies, but it does provide fertile ground for ITA.
On a YTD basis, the ETF is up by a bit under 2%, no doubt bolstered by Biden’s arguably regrettable disclosure. Either way, look to ITA as one of the best ETFs to buy in June.
Source: Shutterstock
On surface level, theSPDR Gold Trust(NYSEARCA:GLD) would seem an ideal choice among the best ETFs to buy. First, you have multiple fear-trade catalysts, from warfare in Europe to infectious disease outbreaks to brewing global recession fears. Second, you have the ultimate booster for precious metals in the form of soaring inflation. Yet the GLD is up by less than 1% this year.
Still, for patient investors, GLD could be an intriguing idea. Since the May 13 session, the precious metals-focused fund has been gradually moving higher. Further, the fundamentals are very supportive of gold. According to data from the Bureau of Labor Statistics, thepurchasing powerof the dollar declined by 11.3% between April 2020 through April 2022, implying an inflationary catalyst for the GLD.
To be fair, the dollar has been more of a safe haven than precious metals, which is a distraction for this ETF. However, in combination with many other circumstances going awry, perhaps nothing might shine brighter than gold.
Source: Krakenimages.com / Shutterstock
If you hate trading and profiting off cynical narratives, you might want to turn away. On the other hand, if you invest completely objectively and divorced from emotions, then theAdvisorShares Vice ETF(NYSEARCA:VICE) could be up your alley. With its core holdings geared toward casinos, alcohol, tobacco, fast food and adult entertainment, VICE caters to all the delightful activities of life.
However, the intensity of demand for “sinful” products and services could rise significantly during an economic downturn. Again, it’s terribly cynical to point this out butsome data indicates that as the economy falters, imbibing increases. If so, it would logically suggest that other activities, such as smoking will rise as well.
Despite the tempting narrative for the VICE ETF, it must be said that it’s not a great performer, shedding more than 17% YTD. Therefore, if you decide to take a shot, only do so with money you can afford to lose.
On the date of publication, Josh Enomotodid not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
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The postThe 7 Best ETFs to Buy in Juneappeared first onInvestorPlace. || What Tesla’s Big Bitcoin Sale Means for Other Firms Putting Crypto on Their Balance Sheets: Tesla (TSLA) opting tosell 75% of its bitcoin (BTC) holdingsis unlikely to have a significant impact on whether other firms will be adding crypto to their corporate treasuries.
For starters, CEO Elon Musk has not entirely abandoned Tesla’s bitcoin position, and said during the company conference call he remainsopen to adding to the company’s bitcoin holdingsagain in the future.
“This should not be taken as some verdict on bitcoin,” Musk noted on the call, saying the sale was needed to boost the electric vehicle maker's cash position given COVID-19 lockdowns in China, one of Tesla’s largest markets.
Tesla was also able to eke out a small profit on its bitcoin sale, despite the sharp decline in bitcoin prices over the last few months. The companyfirst bought $1.5 billion worth of bitcoinin January 2021 when the cryptocurrency was selling for around $32,000 to $33,000. Tesla later sold about 10% of its holdings in that first quarter for a profit.
“We converted a majority of our bitcoin holdings to fiat for a realized gain, offset by impairment charges on the remainder of our holdings, netting a $106 million cost to the P&L included within restructuring and other,” Tesla Chief Financial Officer Zach Kirkhorn said during Wednesday’s earnings call.
And Tesla’s bitcoin sale could be viewed as a completely reasonable tactic for raising cash for corporate purposes.
“It makes perfect sense that corporate treasuries faced with decreasing profitability and possible layoffs will sell liquid assets, including cryptocurrency,” Pat Larsen, co-founder of crypto tax accounting software firm ZenLedger. “It is not a surprise that Tesla would try to free up cash right now with a falling stock price and an uncertain economic environment.”
Tesla’scash positionat the end of the second quarter increased to about $18.3 billion from $17.5 billion at the end of the first quarter, boosted by its bitcoin sale.
Larsen told CoinDesk he expects more corporations to add bitcoin to their coffers in the future, especially as more regulations are passed by the U.S. Congress.
Gil Luria, DA Davidson’s technology strategist, said that if we take Musk at his word about his reasons for selling and openness to repurchasing, then his outlook on bitcoin doesn’t appear to have changed.
Meanwhile, the proposition that bitcoin can serve as a better option than cash for corporate treasury purposes hasn’t been altered, but it also hasn’t come to fruition yet either, Luria said. And given the recent volatility in crypto prices, “the rate of adoption by corporates isn't going to be as fast,” Luria added.
Skeptics will remain on the sidelines, but other firms will explore the idea of adding bitcoin to their balance sheet, according to Chris Terry, vice president of enterprise solutions at open lending platform SmartFi. Tesla was able to successfully liquidate almost $1 billion in bitcoin and thus fared better than simply owning Treasury bonds, Terry told CoinDesk. || Tesla, MicroStrategy, Block Face Hit From Bitcoin: (Bloomberg) -- As if the environment weren’t tough enough for one-time stock market high-flyers Tesla Inc., MicroStrategy Inc. and Block Inc., the three companies took an estimated combined hit of $5 billion on their holdings of Bitcoin in the second quarter.
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The decline in value reflects the 59% plunge in the cryptocurrency’s price in the period ending June 30. Bloomberg calculated the loss based on the companies’ previous disclosures about their Bitcoin stashes.
While those are paper losses only for MicroStrategy and Block until they sell, Tesla has locked in some of the drop: The carmaker unloaded the majority of its Bitcoin in the quarter, and an impairment hurt profitability, it said Wednesday.
The toll shows the danger that companies run when they decide to stash some of their corporate treasury -- normally held in cash or ultra-safe short-term Treasuries -- in volatile cryptocurrencies. While Bitcoin has rebounded a bit from its low last month under $18,000, there’s no guarantee it will ever get anywhere near its November high of almost $68,000.
“It’s very risky for companies to purchase Bitcoin, which is an extremely volatile asset, and puts the company’s cash at risk of severe losses,” said Jerry Klein, managing director at Treasury Partners, a New York firm that manages cash for corporations.
There are at least 27 public companies with Bitcoin on their balance sheet, according to CoinGecko. While most of them are cryptocurrency miners and financial service firms, more than 85% of the Bitcoins held at public companies were with software company MicroStrategy, carmaker Tesla and payments provider Block.
For investors, the holdings add a layer of risk to what are already volatile stocks. Their shares have been hit by surging inflation, rising interest rates and the prospect of a possible recession. Tesla’s stock is down 30% this year, while MicroStrategy and Block have each lost about half their value.
All three companies are led by big proponents of the cryptocurrency. MicroStrategy Chief Executive Officer Michael Saylor has made one of the boldest moves, with his company shelling out almost $4 billion to buy 129,699 Bitcoins. Based on the price move, the tokens dropped in value by $3.4 billion in the second quarter.
The software firm became the first public company to invest the lion’s share of its treasury in Bitcoin in 2020 after Saylor questioned the conventional strategy of investing in short-term US government securities when yields tumbled, adding that inflation would make cash worthless.
Elon Musk’s Tesla bought $1.5 billion of the token early last year and quickly sold some of that stash at a gain. Musk said around that time that the cryptocurrency is a “good thing” and on the verge of getting “broad acceptance by conventional finance people.”
It sold 75% of its remaining holdings in the second quarter because it was unsure how long Covid lockdowns in China would last, so it wanted to have extra cash on its balance sheet, Musk said on an earnings call Wednesday. The company operates a factory in Shanghai.
“We are certainly open to increasing our Bitcoin holdings in future,” he said on the call. “So this should not be taken as some verdict on Bitcoin.” Tesla hasn’t sold any of its holdings of another token, Dogecoin, he said.
Bitcoin fell 2.2% to $22,725 as of 9:35 a.m. in New York.
Block, run by Bitcoin enthusiast and Twitter co-founder Jack Dorsey, owned $366 million worth of that coin as of March 31, according to a company statement.
Investors will be watching earnings from MicroStrategy and Block, on Aug. 2 and Aug. 4, respectively, to see how big a writedown each takes on the holdings.
Marking Tesla’s estimated holdings and Square’s stake at the June 30 Bitcoin market price of about $18,731 puts the combined paper losses for the three companies at about $5 billion, according to Bloomberg calculations. About 70% of that comes from MicroStrategy.
A representative for Block declined to comment on the company’s Bitcoin holdings, while Tesla and MicroStrategy didn’t respond to requests for comment.
“I think the companies that hold Bitcoin will try to hold onto it now that it has fallen so far,” said Matt Maley, chief market strategist at Miller Tabak + Co. “However, they might be forced to sell it due to margin calls if it sees another meaningful down leg.”
Read more: MicroStrategy CEO Saylor Says No Margin Call on Bitcoin Loan
Tech Chart of the Day
Tesla, the world’s most valuable automaker and the only profitable US EV firm, is outperforming peers this year as investors move away from unprofitable growth companies. Tesla rose as much as 5% on Thursday after it reported second-quarter earnings that beat Wall Street estimates. Meanwhile, Nikola Corp. and Lucid Group Inc. have plunged about 40% this year and Rivian’s stock has lost more than two-thirds of its value.
Top Tech Stories
• China fined Didi Global Inc. more than 8 billion yuan ($1.2 billion), wrapping up a year-long probe into the ride-hailing giant that’s come to symbolize Beijing’s bruising campaign to rein in its powerful internet industry.
• Apple Inc.’s pivot to a subscription-like model creates a clear path to a market capitalization of more than $3 trillion, according to Morgan Stanley.
• Tesla Inc. Chief Executive Officer Elon Musk said the electric-vehicle manufacturer has been through “supply chain hell,” but sees commodities prices trending lower and signaled optimism the company can achieve record volume over the rest of the year.
• Intel Corp. spent a record $1.75 million on federal lobbying over the past three months as the semiconductor industry fought to secure billions of dollars in grants and subsidies from Congress.
• Microsoft Corp. said Wednesday it was eliminating many job openings. Google is pausing hiring for the next two weeks, while Lyft is shutting down a division and trimming jobs.
• Contentsquare, the French provider of web analytics, is raising $600 million in a round of funding led by Sixth Street, valuing the startup at $5.6 billion, confirming reporting by Bloomberg this month.
• NetEase Inc. is planning to debut the Diablo Immortal mobile game in China on July 25 -- a month after the highly anticipated title was originally scheduled to launch in the world’s biggest gaming market.
• Semiconductor Manufacturing International Corp. has likely advanced its production technology by two generations, defying US sanctions intended to halt the rise of China’s largest chipmaker.
• SAP SE cut its 2022 operating profit forecast amid a reduced contribution from software licenses revenue and fallout from the war in Ukraine.
(Updates stock moves throughout.)
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©2022 Bloomberg L.P. || The Best Days Are Over for Netflix: Source: wutzkohphoto / Shutterstock.com
Once a high-growth stock,Netflix(NASDAQ:NFLX) is going through a difficult period. After losing subscribers, it has a lot to work on. Consequently, NFLX stock has seen a massive dip over the past six months. The stock was once as high as $700 and is now down to $195. It lost more than 70% of its value over the past six months and I believe the dip will continue.
While the company saw the highest subscriber additions in 2020, it saw the highest dip in 2021. Investors are not happy with the quarterly results and there is an overall negative sentiment around the business. This will continue to impact NFLX stock throughout the year.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Netflix has shown exponential growth over the past decade and was at the top of the streaming industry. But the loss of200,000 subscribersin the first quarter is a sign that the company is doing something wrong.
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This was the first drop in subscribers in a decade, and not something investors expected. It is believed the company will lose another 2 million in the current quarter.
There was a time when there was less or no competition for Netflix, and this is when it thrived. The only other option was traditional cable TV, and users were happy to do away with that. But now, there is ample competition in the industry and a price war.
Viewers have endless choices, and the only way Netflix can set itself apart is through content. This is what drew subscribers in the past, but the rising competition has made it hard for Netflix to stand out. Rising prices haven’t helped the company, either. It has driven users to different platforms.
The company will have to spend heavily on content and produce great shows to attract subscribers. It can become expensive to work with top directors and producers, and Netflix will have to carefully plan out its programming since rivals are looking to do the same. If the members are not growing, the company will not have positive cash flow and this will hamper the content development budget.
Netflix has the opportunity, but there is a lot of uncertainty surrounding the business. It will not be easy for the company to gain subscribers and investors. It will have to improve several factors, including its content, and a quick fix won’t work. MyInvestorPlacecolleague Patrick Sanders shares the sameopinion about NFLX stock.
Investors who bought it before the pandemic had a chance to make the most of the benefits, but now is not the time to put your money in NFLX stock. The company needs a lot of work and it will take some time before we see its shares soaring. Until then, it might not hit all-time highs anytime this year and there could be a further dip.
On the date of publication, Vandita Jadeja 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 postThe Best Days Are Over for Netflixappeared first onInvestorPlace.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 21361.70, 21239.75, 22930.55, 23843.89, 23804.63, 23656.21, 23336.90, 23314.20, 22978.12, 22846.51
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-10-25]
BTC Price: 6476.29, BTC RSI: 47.69
Gold Price: 1229.10, Gold RSI: 60.18
Oil Price: 67.33, Oil RSI: 36.84
[Random Sample of News (last 60 days)]
Qualcomm Desperately Tries to Ban iPhone Sales (Again): A second trial betweenQualcomm(NASDAQ: QCOM)andApple(NASDAQ: AAPL)is now before the U.S. International Trade Commission (ITC) in Washington, D.C. The chipmaker is trying to block Apple from selling iPhones that useIntel's(NASDAQ: INTC)modems in the United States. Qualcomm claims that Apple and Intel are infringing on its patents.
The first ITC trial concluded in June, with a U.S. staff attorney recommending that the court rule that Apple infringed on at least one of Qualcomm's battery-saving patents and that certain Intel-powered iPhones should be blocked in the U.S. market.
Image source: Apple.
However, the attorney also argued that next-gen 5G devices using Intel chips should be allowed in the U.S. to maintain healthy competition between 5G chipmakers. The second trial covers three patents -- two of them related to how Intel's modems handle radio signals, and another concerning how Apple's CPUs put its iPhones to sleep.
The ITC acts as a third party in trade cases, but judges usually follow the agency's recommendations. If Apple is banned from selling Intel-powered iPhones in the U.S., it can still appeal the ruling multiple times and request an intervention by President Trump. Back in 2013, President Obama vetoed a ban on sales of certain iPhones and iPads after Apple's patent litigation loss toSamsung.
In other words, Qualcomm's attempt to ban iPhone sales in the U.S. is a long shot. However, it clearly indicates that Qualcomm's legal battles with Apple -- which throttled Qualcomm's growth over the past year -- won't end anytime soon.
Apple was once one of Qualcomm's top customers. Qualcomm was Apple's exclusive supplier of baseband modems for iPhones between 2011 and 2016, a relationship that the chipmaker maintained with controversial "rebate" payments to Apple. Qualcomm's massive patent portfolio also entitled it to a cut of the wholesale price of each iPhone sold worldwide.
But in 2016, Apple split its baseband modem orders between Qualcomm and Intel, which had been seeking a way back into the smartphone market after Qualcomm crushed its mobile chip business. Apple then assisted the South Korean FTC in the agency's probe into Qualcomm's license fees -- which critics claim should be calculated based on the price of wireless components instead of the price of the entire phone.
Image source: Getty Images.
In an apparent retaliation, Qualcomm suspended its final rebate payments to Apple, which caused the latter to sue Qualcomm for $1 billion in unpaid rebates in a U.S. court. Apple also argued that Qualcomm's license fees were illegal, sued the chipmaker in China and the U.K. for similar reasons, and instructed its suppliers to halt all licensing payments to Qualcomm.
Qualcomm struck back by suing Apple's suppliers and filing anotherlawsuit in Chinato block all manufacturing and sales of iPhones in China. Earlier this year, the European Union fined Qualcomm $1.2 billion over the aforementioned exclusivity rebates, which were considered anticompetitive.
Last November, Apple and Qualcomm hit each other with patent infringement lawsuits. Apple claimed that Qualcomm infringed on eight of its patents by adding battery management functions to certain Snapdragon chips. Qualcomm then filed three separate patent infringement cases against Apple, claiming that Apple infringed on 16 of its patents, while seeking bans on certain iPhones.
That led to Qualcomm bringing the case to the ITC. Meanwhile, Apple started removing Qualcomm's modems from its iPhones -- the new 2018 models exclusively using Intel's modems. That's also probably why Appleabruptly discontinuedthe iPhone X, which uses both Qualcomm and Intel modems. This equals a lot of lost revenue for Qualcomm -- analysts expect its sales to drop 4% this year and its earnings to slide 15%.
Qualcomm's pleas to the ITC reek of desperation and indicate that the chipmaker is running out of options in its battle against Apple. Qualcomm hopes that it can block iPhone sales in the U.S. by targeting Intel chips, but these legal battles will likely drag on for a long time, and Apple will probably launch two or three more generations of Intel-powered iPhones in the meantime -- just as it did during its legal clashes with Samsung.
The real loser here is Qualcomm, which should have simply accepted Apple's decision to split its modem orders with Intel and paid the outstanding rebates owed. Instead, Qualcomm kicked the hornet's nest and is trying to appease investors with buybacks (aconsolation prizefor its failed bid forNXP) and convoluted efforts to block iPhone sales in the U.S. and China.
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Leo Sunowns shares of Apple. The Motley Fool owns shares of and recommends Apple. The Motley Fool owns shares of Qualcomm and has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool recommends NXP Semiconductors. The Motley Fool has adisclosure policy. || Spread between BTC/USD and BTC/USDT Crosses $300: The imbalanced peg between the US Dollar and Tether LLC’s USDT has resulted in a $300-spread in Bitcoin price.
At the press time, the aggregated Bitcoin-to-dollar exchange rate on non-Tether exchanges is approximately 6430-fiat. Meanwhile, on Tether exchanges like BitFinex, the same forex rate is above 6700-fiat. The strange trading activity, which started surfacing on Monday, has seen traders getting their money out of USDT however possible.
The exchanges that offer USDT liquidity, including BitFinex and Binance, therefore experienced a massive drop in USDT value against its quote currencies, which is mainly Bitcoin, USD, and Ethereum.
Simultaneously, the exchanges that didn’t feature USDT experienced their Bitcoin rates driven by increased arbitrage activity. Traders purchased the digital currency at a lower price, transferred it to the wallets of Tether-enabled crypto exchanges, and later shorted their holdings either for other stablecoins, the USDT itself, or the dollar.
The USDT decline itself surfaced owing to growingcommunity mistrust of Tetherafter its prime exchange BitFinex dropped Noble Coin as its banking partner, eventually becoming insolvent, according to reports. The exchange, however, refuted the rumors and said its withdrawals were working fine.
Meanwhile, the community continues to believe that Tether does not have an adequate amount of dollars to back its USDT supply, about which BitFinex, Tether’s partner exchange, is already aware. And while USDT is one of the highest volumed cryptocurrencies, the exchange couldn’t handle the capital flight towards Bitcoin, resulting in its stark drop and Bitcoin’s steep rise.
BitFinex in its latest statementclarifiedthat traders on its platform trade Bitcoins against the dollar, not USDT.
“USDT on Bitfinex is used as a transport layer, used if a trader wishes to deposit or withdraw in e.g. Omni USDT or Ethereum USDT. Until the trader specifically chooses to transport their fiat in Tether-denominated USD, all their fiat holdings on Bitfinex will be held in the form of fiat USD.”
Believing what BitFinex stated, traders were genuinely moving their fiat holdings into Bitcoin on its trading platform, buying the digital currency at a prime value. Hence, the Bitcoin-to-dollar exchange rate went up enormously.
The spread between Tether and non-Tether exchange is expected to stay as the confusion mounts. The community has asked Tether, LLC and BitFinex both to have their balance sheets audited and end the FUD once for all. The question is now whether traders are exchanging their digital assets for real fiat funds or for a currency that may or may not be artificially pegged to the dollar.
Tether and BitFinex haven’t confirmed whether they would go through an independent audit or not.
Featured Image from Shutterstock. Charts fromTradingView.
The postSpread between BTC/USD and BTC/USDT Crosses $300appeared first onCCN. || Tesla Vehicle Production and Deliveries Are Soaring: "We are about to have the most amazing quarter in our history," Tesla (NASDAQ: TSLA) CEO Elon Musk said in a letter to employees published on the electric-car maker's blog shortly after market close on Friday. The letter served as an update on the company, providing some insight into vehicle production and sales trends and even teasing new products. Here are some of the key takeaways from the update: A red Tesla Model 3 driving at sunset. Model 3. Image source: Tesla. 1. Musk to employees: Ignore the media There's been no shortage of Tesla headlines recently. Just to name a few, Musk considered taking Tesla private in August, sharing the news in a controversial tweet . Later that month, the CEO said he decided Tesla should stay public . More recently, Tesla made headlines when its chief accounting officer stepped down . In his letter to employees Friday, Musk urged them to ignore the media: For a while, there will be a lot of fuss and noise in the media. Just ignore them. Results are what matter and we are creating the most mind-blowing growth in the history of the automotive industry. Even the Ford Model T, which held the world record for the fastest growing car in history, didn't grow as fast in sales or production as the Model 3. 2. Vehicle production is soaring During the update, Musk noted that the company is on pace to build and deliver "more than twice as many cars as we did last quarter." This is a notable achievement considering Tesla delivered a record number of vehicles in Q2. Thanks to strong growth in Model 3 production and deliveries, Tesla's second-quarter deliveries were up 85% year over year and 36% sequentially. A doubling in Tesla's third-quarter vehicle deliveries would mean deliveries more than tripled compared with the year-ago quarter. It's also worth noting that this prediction from Musk suggests the company is on pace to meet its guidance for vehicle deliveries during the quarter. 3. Tesla teases new products Musk used the letter as an opportunity to create some buzz for Tesla's product line. Story continues Moreover, we also have the most exciting new product lineup of any company in the world. There is the Model Y, the Tesla (pickup) Truck, the Semi and the new Roadster. Then there is the Solar Roof, which is spooling up in production, and continued advancements in Powerwall and Powerpack. But Musk also left employees with some cryptic commentary on unannounced products, saying, "And that's just what people know about ..." 4. Seven executive changes The bulk of Musk's company update was dedicated to detailing some executive promotions and changes. Jerome Guillen has been promoted to president of the company's entire automotive operations. Kevin Kassekert was promoted to VP of People and Places, where he is responsible for human resources, facilities, construction, and infrastructure development. Chris Lister is being promoted to vice president of the company's Gigafactory operations. Felicia Mayo was promoted to a vice president role to lead human resources and Tesla's diversity and inclusion programs, reporting directly to Musk and Kassekert. Laurie Shelby, who is vice president of Tesla's environmental, health, and safety (EHS) efforts, will now report directly to Musk. Cindy Nicola, who serves as VP of global recruiting at Tesla, will now report to both Kassekert and Musk. Dave Arnold was promoted to senior director, global communications, where he will oversee Tesla's communications team. Investors will get a more detailed update on Tesla's recent progress after the quarter closes. The automaker will release its quarterly vehicle delivery and production update in the first few days of October. In the company's second-quarter shareholder letter, Tesla forecast to produce 50,000 to 55,000 Model 3 units during Q3, with total deliveries of the vehicle coming in even higher. Tesla also importantly predicted it would report a profit in both its third and fourth quarters. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Daniel Sparks owns shares of Tesla. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has a disclosure policy . || Why ‘USFR’ Is A Fashionable Floating Rate ETF: This article was originally published on ETFTrends.com. Floating rate notes (FRNs) and the related floating rate ETFs are receiving renewed attention this year as fixed income investors seek alternatives to traditional government bonds at a time when the Federal Reserve is increasing borrowing costs. One of the fastest-growing exchange traded funds this year in the FRN category is the WisdomTree Bloomberg Floating Rate Treasury Fund ( USFR ) . USFR, which debuted in February 2014, follows the Bloomberg U.S. Treasury Floating Rate Bond Index. The fund’s holdings are priced at a spread over 3-month Treasury bills. Floating rate notes featured in USFR mature in 2019 and 2020 . “A key attribute that sets these notes apart is that instead of paying a fixed rate of interest like other Treasuries, FRN coupon payments are based on a reference rate (90-day t-bills) plus a spread,” said WisdomTree in a recent note . “Since 90-day bills are auctioned every week, effective duration of FRNs is one week, which allows investors to capture higher rates of income as short-term rates rise. Given that these securities are assumed to be free of default risk, their value is linked to the rate of interest at each weekly auction. Since 90-day t-bills are among the most sensitive to interest rate changes conducted by the FOMC, this provides an opportunity to boost income as the Fed hikes rates.” Floating rate notes, like the name suggests, have a floating interest rate. Specifically, the notes’ have a so-called reset period with interest rates tied to a benchmark, such as the Fed funds, LIBOR, prime rate or U.S. Treasury bill rate. Due to their short reset periods, these floating rate funds have relatively low rate risk. Important Treasury Considerations Looking ahead, the floating rate notes will generate more interest if Treasury prices fall and yields rise further, which should play out if the Fed continues on its interest rate normalization schedule. Story continues USFR has a 30-day SEC yield of 1.89%, which is better than what is found on many short-term cash investments. All of the fund’s holdings are rated AAA, so credit risk is not an issue. Floaters are designed to be low duration products as highlighted by USFR’s effective duration of just 0.02 years. “USFR has had annualized returns of 1.43% over the last 1 year, 1.14% over the last 2 years, 0.85% over the last 3 years, and 0.55% since the fund incepted on February 4th, 2014 -- a testament to the FRN’s ability to efficiently participate in rising interest rates. Additionally, when looking at USFR versus the Prime Category, a group that will typically take on additional credit risk to achieve higher yields, USFR has still outperformed since its inception,” according to WisdomTree. For more on the bond market, visit our Fixed Income Channel . POPULAR ARTICLES FROM ETFTRENDS.COM Berkshire Hathaway Makes First Direct Investment in India BlackRock Seeking to Disrupt ETFs by Rethinking Sector Classifications Kevin O’Leary on Choosing to Rent or Buy a House SEC Still Holds Concerns Over Bitcoin Before Approving ETFs How to Achieve The Perfect Retirement READ MORE AT ETFTRENDS.COM > || Bitcoin Price Rises 4% to $6,750, is Ethereum Eyeing a Potential Move Towards $300?: Over the past 24 hours, followed by the strong rally of Bitcoin price from $6,400 to $6,750, the crypto market rebounded strongly. Cardano and Litecoin, the two best performing major cryptocurrencies on September 28, recorded 10 percent gains.
Within 10 hours, the price of ADA, the native cryptocurrency of Cardano, increased from $0.078 to 0.0876, by more than 12.3 percent. While most cryptocurrencies have slightly retraced after achieving a weekly high, the market has started to rebound once again.
Ethereum (ETH), which was overtaken by Ripple (XRP) on two occasions within the past week, solidified its position as the second most valuable cryptocurrency in the market. The gap between ETH and XRP has increased to $2 billion, following a 7 percent increase in the price of ETH.
From August to late September, ETH has shown lack of momentum and increasing sell pressure, most likely due to the fear of investors that initial coin offering (ICO) projects will dump ETH on the cryptocurrency exchange market in the months to come.
As researchers at Diar previously reported, ICO projects still hold over 38 percent of their ETH holdings stored in treasury. Larry Cermak, head analyst at Diar, stated that sell pressure on Ethereum is unlikely to decrease in the months to come, given the large amount of ETH ICOs still control.
“There is a big misconception that ICO companies have liquidated most of their ETH holdings. On average, all of these projects have moved or liquidated 62 percent of the amount that they initially raised. In other words, they are still holding 38 percent of the initially raised amounts. This, in turn, creates ETH selling pressures, which are unlikely to go away any time soon. The price is affected not only by the ETH mining issuance but also by ICO companies liquidating to cover their expenses,” Diar reportread.
It is always possible for ETH to experience an abrupt decline in value given the likelihood of ICOs liquidating their holdings in the future. But, it is also important to consider the large 45 percent correction ETH recorded in the past two months and the oversold conditions ETH has been demonstrating as a consequence.
Over the past 48 hours, Ethereum has made a strong attempt to break out of the $200 region, eyeing a potential rally to the $300 mark. Another strong short-term rally could allow ETH to recover from its current price range, which is likely considering the price trend of ETH since mid-August.
Bitcoin is also expected to break out of the $6,800 resistance mark in the next 12 to 24 hours, a move that would allow the dominant cryptocurrency to eye an entrance into the $7,000 region by the end of the week.
The cryptocurrency market is currently in an ideal position to initiate a short-term rally. The volume of Bitcoin, Ethereum, and most major cryptocurrencies remained relatively low throughout the week. In the past 12 hours, the volume of Bitcoin picked up, showing decent momentum.
Featured image from Shutterstock. Charts fromTradingView.
The postBitcoin Price Rises 4% to $6,750, is Ethereum Eyeing a Potential Move Towards $300?appeared first onCCN. || Against Fake Volume Allegation: OKEx Distributes $5M Trading Commissions to Users Weekly: NEW YORK, NY / ACCESSWIRE / September 17, 2018 / Recently, there appears allegation upon the trading volume of OKEx , a world-leading digital asset exchange. However, the allegation itself is invalid for the difficulty to collect the accurate data of trading volume as a person or even media outlets, let alone exchanges like OKEx with futures trading and API transaction. What's more, there is an important fact need to be mentioned. It is reported that OKEx has launched a program named Happy Friday, a bonus distribution campaign that to give away 50% of its trading fee to OKB (OKEx platform token) holders weekly. The program has distributed approximately $5 million last week. If OKEx has washed trade grossly to reach the volume which currently listed on CMC, meantime the weekly bonus remained $5 million; the exchange will need to pay most of the bonus to users with its own money, then why would OKEx make fake volume? That does not make any sense. The Happy Friday campaign mentioned above is a program launched by OKEx to distribute 50% of weekly transaction fee as BTC bonus every Friday to users holding OKB. The amount is based on the percentage of OKB the user holds. Since launched, the Happy Friday campaign became popular among OK users worldwide, and the mega bonus pool has once reached up to 2,000 BTC. OKEx, as one of the top crypto exchanges by volume, 24H trading volume reached $872 million on CoinMarketCap (14th, Sep.), and $5.07 billion on AICoin (14th, Sep.), the most popular website about crypto information in China. The former lists only token-trading while AICoin records the total volume including futures trading. Taking the data on CoinMarketCap as basic volume and 0.02%, the lowest rate as standard (which is hardly possible), therefore, the daily trading fee is $174,550, while the amount of weekly bonus pool would be $610,925 (of only token-trading), which will all be distributed to OKB holders. The data showed is based on the lowest rate of trading fee enjoyed by the highest-level member, and the trading volume exclude futures trading, which is the majority revenue source of OKEx. According to AICoin, the total trading volume in the past 24H is $5.07 billion, so the 24H futures trading volume would be $4,197,248,301. Assuming the trading fee rate is still 0.02%, then the daily trading fee is $839,450, and the amount of weekly bonus pool would be $2,938,075, which would all distributed to OKB holders as well. Story continues According to the data calculated above, users can get over 1,200 BTC each week from the OKEx Happy Friday campaign. At the same time, the eligibility is even easy to meet that you just need to hold no less than 100 OKB to enjoy mega bonus. As to OKB, it is a global utility token issued by OK Blockchain Foundation to connect prospective digital asset projects to OKEx users as well as professional investors, creating an OKEx ecosystem that helps to advance the development of blockchain technology and the digital asset industry. Different from tokens from other platforms, OKB has a great roadmap including but not limited to the application of programs such as Happy Friday, Global Partner, Prime Investor, OK Partner Exchange etc., as well as the world's first index product OK06ETT. The total available supply of OKB is 1 billion, some of which will be locked up with those programs meanwhile the value of OKB will be added. 60% of the circulation amount will be given to OKEx users for community building through marketing campaigns, which enables OKB holders to enjoy various privileges and the increasing profit for long term. *The current price of OKB is $1.23, which is near the historic low point and worth to invest. Media Contact: [email protected] SOURCE: OKEx https://www.accesswire.com/512080/Against-Fake-Volume-Allegation-OKEx-Distributes-5M-Trading-Commissions-to-Users-Weekly || Bitmain Rival Ebang Launches New Line of Uber-Efficient Bitcoin Miners: One of Bitmain’s biggest rivals is ready to give the bitcoin mining giant a run for its money as both firms prepare to go public in Hong Kong.
The China-based Ebang Communication, one of the world’s largest manufacturers of application-specific integrated circuit (ASIC) chips for bitcoin miners, has unveiled the next generation of its flagship product line, complete with an upgraded chip that makes significant strides in energy efficiency.
Ebang made the announcement at the World Digital Mining Summit in Georgia, stating that the Ebit Miner E11, E11+, and E11++ will be available for preorder soon.
The E11 series features a 10nm chip, the same size featured in its E10 product line. However, according to a product flyer circulated on Twitter by Blockstream CSO Samson Mow, the E11 series is capable of achieving phenomenal performance for a 10nm chip. Per the flyer, the Ebit E11++ can achieve a power consumption as low as 45J/TH at 44TH/s while even the lower-end E11 bases model offers a hashrate of 30TH/s at 65J/TH.
Bitmain, also based out of China, claims to possess a 70 percent share of the cryptocurrency ASIC market. Shortly before Ebang unveiled its E11 series, Bitmain CEO Jihan Wuannouncedthat the firm had developed a 7nm chip for its yet-to-be-released next mining rig generation.
Wu said that Bitmain’s 7nm chip can achieve a max power efficiency of 41J/TH, which does not include the rest of the mining rig. Consequently, it’s unlikely that Bitmain’s next generation of bitcoin mining ASICs will have comparable performance to the E11 series.
As CCNreported, market research firm Sanford C. Bernstein & Co. recently published a report alleging that Bitmain, which is said to be worth at least $15 billion, is losing its competitive edge in ASIC development.
Of course, price points matter, and it remains to be seen whether Bitmain — which is almost certainlyholding much more capital than Ebang— can price its miners low enough to be profitable while also maintaining its dominant market share.
Both firms, along with fellow China-based mining firm Canaan Creative, plan to holdinitial public offerings(IPOs) on the Stock Exchange of Hong Kong (HKEX) within the near future. Ebang and Canaan are said to be targeting raises as large as $1 billion while recent reports have suggested that Bitmain will likely raise $3 billion.
Featured Image from Shutterstock
The postBitmain Rival Ebang Launches New Line of Uber-Efficient Bitcoin Minersappeared first onCCN. || Can Pandora Stock Double Again in 2019?: One of this year's biggest surprises isPandora(NYSE: P). The streaming music pioneer has seen its stock soar 96% this year, more than doubling since bottoming out in late January. The stock hit yet another 52-week high on Tuesday.
It has generally been a good year for online services, but Pandora's spike is turning heads because the digital music specialist isn't exactly killing it when it comes to its fundamentals. Pandora's user base continues to contract, and profitability remains elusive. It's doing a good job of milking more revenue out of its audience, but squeezing blood from a stone is challenging when the rock is becoming a pebble. The stock is doing better than its platform, but this doesn't mean that the rally is over.
Image source: Pandora.
Pandora has a popularity problem. It has seen its active listener base shrink from 76 million to 71.4 million over the past year. This isn't a fluke. Users have contracted every year since peaking at 81.5 million in 2014. The industry itself isn't going the wrong way. The country's two leading premium streaming platforms -- with tens of millions of paying users apiece -- are both growing at heady rates.
Pandora's excelling at making the best of a bad situation. It's rolling out different premium offerings, and we've seen subscription revenue soar 67% over the past year. Pandora is also getting advertisers to pay more for the freeloaders that continue to make up the lion's share of its listenership.
The combination of accelerating subscription revenue -- even if we're talking about less than 10% of it current user base -- and improving ad sales are helping offset the net defections. Adjusted revenue rose 12%in its latest quarterif we back out the event ticketing business it sold off and the international operations that it closed down.
The growth isn't sustainable if listeners keep bolting for rival offerings, and profitability is at least three years away, according to analyst models. However, the stock is clearly back in favor. It could be a case of the rising bullish tide for rival streaming services lifting all ships. One can also argue that the bullishness is also making Pandora a more viable buyout candidate.
We're now more than a year removed from whenSirius XM Radio(NASDAQ: SIRI)abandoned plans to buy Pandora outright,taking a minority stakeinstead. Now that streaming stocks in general and Pandora in particular are hot again, it wouldn't be a surprise if Sirius XM or any tech giant wanting an audience of more than 70 million streaming accounts snaps up Pandora.
The company may not come cheap as an acquisition now that its shareholders have rediscovered the lost swagger, but it's hard to fathom a hard pass on a legitimate buyout at a healthy premium. Pandora knows that listeners will continue to leave, making it harder to achieve profitability down the line. It may never get a deal as good as it will right now.
Pandora won't double again as a buyout candidate. Momentum helps, but it's holding a weak hand. The stock can keep moving higher from here, but investors need to be realistic in sizing up the stock's appreciation potential.
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Rick Munarrizowns shares of Pandora Media. The Motley Fool owns shares of and recommends Pandora Media. The Motley Fool has adisclosure policy. || Bitcoin Futures Helped Cryptocurrency Market Achieve More Sustainable Level: CFTC Chairman: J. Christopher Giancarlo CFTC bitcoin J. Christopher Giancarlo CFTC bitcoin When derivatives exchanges CBOE and CME launched the first regulated U.S. bitcoin futures contracts, many cryptocurrency bulls thought that this event would lead to a wave of institutional investment and propel the market toward even greater highs. Just days later, the yearlong bitcoin price rally stalled, and the flagship cryptocurrency followed soon after by the wider market entered a decline that has continued throughout 2018. According to researchers at the San Francisco branch of the Federal Reserve, the bitcoin futures launch triggered the decline, as it provided institutional investors with their first real opportunity to short the bitcoin price. bitcoin futures price Alluding to this research in an interview with Fox Businesss Maria Bartiromo, CFTC Chairman J. Christopher Giancarlo credited the futures launch and the CFTCs do no harm strategy in allowing those products to begin trading in the face of criticism with helping pop the bitcoin price bubble and bring the market back to what some would characterize as a more sustainable level. He said on Friday: According to the San Francisco Fed, it was the bitcoin futures emergence that actually sapped the bitcoin bubble that emerged at the end of 2017, and we have seen bitcoin, perhaps in some peoples view, achieve a more sustainable level than it was during the bubble period last year. Giancarlo added that, concurrently, the cryptocurrency market has been steadily growing more mature, in large part due to an increase in institutional investors engaging with this asset class. In addition to firms like Intercontinental Exchange (ICE) and TD Ameritrade backing cryptocurrency exchanges , a number of major university endowments including Yale, Harvard, and MIT have reportedly invested in cryptocurrency funds. Were seeing more institutional movement into this area, and I think with more institutional movement, we should see more maturization of it, Giancarlo said, adding that there was still a long way to go to improve the still-nascent spot market. Story continues Nevertheless, he concluded that, on the whole, cryptocurrency was on the path to becoming a mature financial instrument. Like all things, it takes time to mature, and with the movement of more institutional investors into that space, I think well see that maturization. Featured Image from SIFMA/ YouTube . Charts from TradingView . The post Bitcoin Futures Helped Cryptocurrency Market Achieve More Sustainable Level: CFTC Chairman appeared first on CCN . || Chinese Billionaire Bitcoin Investor Done Investing in Blockchain Projects: Bitcoin price china Li Xiaolai, the founder of Beijing-based venture capital firm BitFund and a widely recognized billionaire Bitcoin investor in China, has publicly stated that he will personally move away from the blockchain and initial coin offering (ICO) space. He said on Chinas largest social media platform Weibo: From this day on, Li Xiaolai personally will not invest in any projects (whether it is blockchain or early stage). So, if you see Li Xiaolai associated with any project (I have been associated with countless projects without my knowledge, 99% is not an exaggeration), just ignore it. I plan to spend several years to contemplate on my career change. As for what Im doing next, Im not sure just yet. Possible Reasons Behind his Decision The cryptocurrency market has experienced its fourth worst correction in the past nine years, experiencing a 80 percent drop in valuation within the past nine months. Yet, the vast majority of ICO and blockchain projects have held most of their holdings in Ethereum and Bitcoin throughout the bear market and the ICO market still remains active to this day. The decision of Li to abruptly exit the ICO and blockchain sector was likely fueled by two major factors: the crackdown on ICOs by the Chinese government and a significant increase in the number of scams in the blockchain market. In June, CCTV, China Central Television, a state-owned network controlled by the government, released a documentary on blockchain and claimed that the technology has the potential to achieve a level of success that is in orders of magnitude larger than that of the Internet. The statement released by CCTV came as a surprise to both the local cryptocurrency market of China and the global finance industry, especially given the ties of CCTV with the government. Blockchain is the second era of the Internet. The value of blockchain is 10 times that of the Internet. Blockchain is the machine that produces trust, CCTV reported. Story continues However, less than two months after the release of the report of CCTV, the government of China tightened its blanket ban on crypto, characterizing ICOs as illegal fundraising tools and prohibiting any promotion of token sales within the country. An official document released by the government of China read: Such activities are not really based on blockchain technology, but rather the practice of speculative blockchain concepts for illegal fundraising, pyramid schemes and fraud. The main features are as follows: Risk of illegal activities, unregulated overseas markets and inability to track or monitor transactions made in ICOs. Deceptive, opaque and concealed fundraising methods, relying on celebrities and influencers to manufacture hype around investments to tempt investors. Illegal operations like profit-generating pyramid schemes and creating Ponzi schemes by describing them as financial innovations. Considering the reputation of Li as a high profile billionaire investor based in China and the governments dissatisfaction with the ICO market, it is highly likely that local regulations have encouraged Li and his team at Bitfund to move out of the blockchain market. Not Out of Crypto Li and his fund still hold a signifcant amount of Bitcoin and other major cryptocurrencies, which is estimated to be worth over a billion dollars. However, the reputation of the investor deterioated since his resignation from his role as managing partner of the $1 billion Hangzhou XiongAn Blockchain Fund. The move was possibly made to recover his brand value and remove any association of his fund with illegitimate blockchain projects. Images from Shutterstock The post Chinese Billionaire Bitcoin Investor Done Investing in Blockchain Projects appeared first on CCN .
[Random Sample of Social Media Buzz (last 60 days)]
#ADA Price is 0.00001281 (+0.00000007) #BTC / 0.0840990744 (+0.00023) #USD. Market rank is 9. #cardano #bitcoin #blockchain || Oct 18, 2018 04:30:00 UTC | 6,527.80$ | 5,676.40€ | 4,983.20£ | #Bitcoin #btc pic.twitter.com/NT1P6iB6lC || BOUGHT [ #BTCUSDT | #binance | Price: 6571.69000000 | Time: 2018-10-20 16:21:39 ] Uptime: 00:13 | #USDT #BTC #trading #bitcoin || Aug 30, 2018 10:30:00 UTC | 6,904.40$ | 5,901.60€ | 5,304.10£ | #Bitcoin #btc pic.twitter.com/oFLtzIFw8F || Oct 04, 2018 16:30:00 UTC | 6,557.60$ | 5,699.40€ | 5,039.40£ | #Bitcoin #btc pic.twitter.com/XDfFqxRAFu || Total Market Cap: $202,326,363,889
1 BTC: $6,508.75
BTC Dominance: 55.59%
Update Time: 16-09-2018 - 15:00:04 (GMT+3) || ツイート数の多かった仮想通貨
1位 $BTC 626 Tweets
2位 $XRP 72 Tweets
3位 $TRX 72 Tweets
4位 $ETH 62 Tweets
5位 $IOST 35 Tweets
2018-10-12 14:00 ～ 2018-10-12 14:59
COINTREND いまTwitterで話題の仮想通貨を探せ！
https://cointrend.jp/ || Seacoast Banking Corporation of Florida to Announce Third Quarter Earnings Results October 25 Seacoast Banking Corporation of Florida to Announce Third Quarter Earnings Results October 25 – Banking Industry Today – EIN #News... http://www.moneyhealthfinance.com/seacoast-banking-corporation-of-florida-to-announce-third-quarter-earnings-results-october-25/ … #bitcoin #bigdata #business || Comment choisir sa plateforme d'échange ou de crypto trading (Fiat/BTC/ETH/XRP/….) http://etoro.tdw/2uGEi7w Strat copy trading and get 20$ for free. || #LIZA #LAMBO price
09-16 00:00(GMT)
$LIZA
BTC :0.00000
ETH :0.00007
USD :0.0
RUR :1.6
JPY(btc) :2.3
JPY(eth) :1.6
$LAMBO
BTC :0.040
ETH :0.014
USD :120.0
RUR :19003.0
JPY(btc) :29187.2
JPY(eth) :351.5
|
Trend: down || Prices: 6474.75, 6480.38, 6486.39, 6332.63, 6334.27, 6317.61, 6377.78, 6388.44, 6361.26, 6376.13
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2020-07-22]
BTC Price: 9525.36, BTC RSI: 61.49
Gold Price: 1864.10, Gold RSI: 73.60
Oil Price: 41.90, Oil RSI: 63.34
[Random Sample of News (last 60 days)]
Chainalysis Says Bitcoin Scammed From Twitter Users Is ‘On the Move’: The defraudedbitcoinamassed during Wednesday’smonumental Twitter hackis already “on the move,” according to cryptocurrency tracing firm Chainalysis.
• Chainalysis told CoinDesk it is monitoring four wallets associated with the attack.
• The most prevalentaddressreceived $120,000 in bitcoin from 375 transactions.Secondaryaddressesreceived $6,700 in bitcoin from 100 transactions. An XRP wallet netted nothing.
• So far, a wallet whose associations are not yet known has received five bitcoin ($46,055) in total. “We are collaborating with our customers to find leads from this wallet,” Chainalysis spokesperson Maddie Kennedy said.
• Part of thescamrelied on hackers churning their own crypto between wallets to inflate the number of people who appeared to be chipping in, according to Chainalysis. The firm called the tactic “unsurprising.”
• A Japanese wallet that sent scammers $40,000 in bitcoin appears to have been the single largest victim of the still-unexplained hack. International exchanges were generally the source of victims’ bitcoin, Chainalysis said.
• No BTC has been cashed out to fiat just yet, the crypto-sleuthing firm added.
Read more:Twitter Breach Reactions: Security Professionals Offer an Early Assessment
• Chainalysis Says Bitcoin Scammed From Twitter Users Is ‘On the Move’
• Chainalysis Says Bitcoin Scammed From Twitter Users Is ‘On the Move’
• Chainalysis Says Bitcoin Scammed From Twitter Users Is ‘On the Move’
• Chainalysis Says Bitcoin Scammed From Twitter Users Is ‘On the Move’ || Bitcoin flips bullish after $10,000 breakout: Bitcoin has flipped into a bullish formation following yesterday evenings stunning breakout above the psychological level of resistance at $10,000. It spiked to as high as $10,450 on derivatives exchange BitMEX before consolidating at around $10,125 as it attempts to pause before its next major move. While the macro perspective and higher time frames are clearly bullish, a number of key hurdles still remain on lower time frames before a defined bull market is confirmed. The first of which is the $10,450 level that was tested during yesterdays hike in price, with it also being the point of rejection in February following a 50.37% rally since the turn of the year. If Bitcoin can breakout above the $10,450 level with a daily candle close it will likely make a swift move towards the $10,900 level of resistance, which prevented a move to the upside on two occasions in August and September last year. However, with it not being out of the woods yet it could still face a sell off in the short term, especially if it fails to break above $10,450 by the end of the week. A rejection from here would be brutal for Bitcoin as it would demonstrate a clear lack of momentum despite a number of fundamental factors falling into place. With global economies in desperate times as a result of the coronavirus pandemic, coupled with the ongoing riots in the USA, many believe that the US Dollar will begin to weaken, thus leading the way to Bitcoin, which is known as a hedge to traditional money, becoming inflated. If Bitcoin fails to do that a large number of investors would lose faith in the asset, which was expected to rise heavily in 2020 as a result of the recent block reward halving that saw rewards slashed from 12.5BTC per block to 6.25BTC per block. For more news, guides and cryptocurrency analysis, click here . || Craig Wright Called ‘Fraud’ in Message Signed With Bitcoin Addresses He Claims to Own: The credibility of Craig Wright – the Australian tech entrepreneur who controversially claims to be bitcoin’s pseudonymous inventor, Satoshi Nakamoto – has taken another blow.
After a list ofbitcoinaddresses Wright had provided as being his holdings in an ongoing court case were briefly and “inadvertently” made public by plaintiffs on May 21, 145 of the addresses were used to sign a public message both calling Wright a “fraud” and making it plain that he does not in fact own or control them.
The court case was brought by Ira Kleiman, the brother of Wright’s former business partner, David Kleiman, and seeks half of 1.1 million bitcoin (worth around $9.6 billion) the two allegedly mined in the early days of the cryptocurrency, as well as intellectual property. The case hinges on whether Wright can prove he has the keys to the trove of cryptocurrency.
Related:Bidooh Founders Admit to Cloning Business for Rival Advertising Venture
While the list of addresses wasquickly resealed by the Kleiman legal team, itstill existson Court Listener and looks to have provided a means for another individual to identify a number of addresses they in fact hold the keys to. That, in turn, enabled them tosign a message with the bitcoin keys. It reads:
“Craig Steven Wright is a liar and a fraud. He doesn’t have the keys used to sign this message. The Lightning Network is a significant achievement. However, we need to continue work on improving on-chain capacity. Unfortunately, the solution is not to just change a constant in the code or to allow powerful participants to force out others. We are all Satoshi.”
Some of the many addresses in the court filing published on Court Listener are indeed used to sign the message.
The message was first brought to wider attentionon Reddit, with the claim that the addresses are for bitcoin mined in 2009 and that have not been moved since.
Related:Judge ‘Puzzled’ by Craig Wright’s Objections to Producing Evidence of Over 1.1M Bitcoin
BitMEX Research tweetedit had taken “a random sample of 20” of the addresses and found they did not match the holdings of the “dominant” early bitcoin miner in 2009, who many think was Satoshi. The firm’s earlier research on this isto be found here.
Wright had claimed in court his billions in bitcoin were held for him in so-called Tulip Trusts, but that he could not prove his control of the keys due to attorney-client privilege. He has beenaccused by the judgeof “abusing” client-attorney privilege to withhold documents and “obfuscate” proceedings elsewhere in the case.
Last August, the judgealso foundWright had argued in bad faith, perjured himself and admitted false evidence.
In another filing on May 21, the Kleiman teamfiled an omnibus motion for sanctionsagainst Wright, claiming: “Wright has engaged in a sustained pattern of perjury, forged evidence, misleading filings, and obstruction – this included submission of false evidence which, if not unmasked, could have resulted in Plaintiffs being deprived of their day in court.”
Saying the abuses are “undeniably directed at the singular goal of making it impossible for Plaintiffs to prevail at trial,” defendants seek sanctions and a default judgement against Wright.
Wright, for his part, ishoping to bring new expert witnessesinto court, one of whom is said to be a “licensed clinical psychologist who has studied Autism Spectrum Disorder.”
If the judge rules in favor of Wright on this matter, Dr. Ami Klin “will testify that he has diagnosed Dr. Wright with Autism Spectrum Disorder with high intellectual skills. Dr. Klin’s testimony will help the jury understand how this disability affects behavior.”
Another of Wright’s experts would testify on whether David Kleiman “had the requisite skills and experience to have written or significantly have contributed to the original Bitcoin software application released in 2009.” The Kleiman team is seeking to block the appearances of the four expert witnesses.
• Cryptopia Users Win Victory in Court Case Over Crypto Assets Worth Over $100M
• Blockchain Association Says Court ‘Erred’ With Decision to Block Telegram’s Token Issuance || Why Bitcoin Suddenly Dropped 6% on Thursday: Crypto wallet and bitcoin custodian, Xapo is discontinuing support for credit card payments for digital asset purchases.
In an emailed announcement on Friday, Xapo said its users would not be able to add funds to their account through credit cards beginning June 11. Additionally, bank transfers will only be supported above a certain minimum amount, depending on the user’s location.
“If you make a transfer, the app will detect your country of residence and specify the minimum amount,” the company email said.
Related:Xapo Suspends Credit Card Crypto Purchases, Shifts Operations to Gibraltar
“Rest assured, these changes will not affect your Xapo BTC wallet services, and your BTC will remain safe and secure with us (as always). BTC transfer in and out will not be affected at all,” the email added.
The changes come after Xapoannounced on May 5it would be transforming into a digital bank late in 2020. It will also move its operations from California to Gibraltar, which offers a regulatory framework for cryptocurrency firms but sets ahigh standard for approvals.
See also:Custody Battle Pits Institutional Boomers Against Crypto Upstarts
Earlier this month, a lawsuit was brought against Xapo and crypto exchange Indodax forallegedly holding stolen bitcoin. The crypto trader behind the legal action is attempting to force the exchanges to hand over nearly 500 bitcoin (currentlyworth around $4.7 million) he claims to have lost in a hack.
• Lawsuit Accuses Xapo, Indodax of Negligently Holding Stolen Bitcoin
• Xapo
• It’s Tough Getting Approved in Gibraltar, Says Green-Lighted Crypto Derivatives Exchange || The Mirage of the Money Printer: Why the Fed Is More PR Than Policy, Feat. Jeffrey P. Snider: The meme is “money printer go brrr,” but according to this macro expert, central banks have almost no power to actually influence money itself.
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 byBitstampandCiphertrace.
The conventional wisdom is that central banks are the most important economic actors in the world. Markets hang on their every word.
Yet, what if that power has less to do with actual monetary policy and more to do with how the performance of that policy creates a self-fulfilling prophecy as market actors respond to media coverage?
See also:5 Numbers That Tell the Story of Markets Right Now
Jeff Snider is the head of global research at Alhambra Investments. In this conversation, he and NLW explore:
• How the Fed lost the ability to even determine what the money supply is.
• How the financialization in the 1980s exacerbated monetary confusion.
• Why the most important force in the global economy isn’t central banks but the eurodollar and shadow banking system.
• How the eurodollar and shadow banking sector creates a drag on real economic growth.
• Why the conventional wisdom and “central bank savior” narrative around 2008 was dead wrong.
• The problem with “survivor’s euphoria.”
• Why “money printer go brr” is actually aflood myth.
Related:The Mirage of the Money Printer: Why the Fed Is More PR Than Policy, Feat. Jeffrey P. Snider
See also:Why a Strong Dollar Is Bad for the US and Bad for the World, Feat. Lyn Alden
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.
• 5 Numbers That Tell the Story of Markets Right Now
• Bitcoin News Roundup for June 3, 2020 || 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. || EU Creating a Regulatory Regime for Cryptocurrencies, Says Economic Chief: The European Union is preparing a new cryptocurrency regime that could include stricter requirements for “global stablecoin” projects such as Libra. The bloc’s lead economics minister, Valdis Dombrovskis – or to give him his full title, the European Union’s Executive Vice President of the European Commission for An Economy that Works for People – said Europe had to seize the opportunity to become one of the main rule-makers for digital finance. “This is a good chance for Europe to strengthen its international standing and to become a global standard-setter, with European companies leading new technologies for digital finance,” he said during a speech at the Digital Finance Outreach 2020 earlier this week. Related: Mapping the Future of the SEC (There's a Nonzero Chance Hester Peirce Takes Over) And the first test case, Dombrovskis said, would be cryptocurrencies. See also: CBDC Issuance Is ‘Not a Reaction’ to Libra, Says Central Bank Body Although some cryptos, such as security tokens, are pretty well covered by European law, whole bundles of them, most notably stablecoins, remain entirely unregulated. “Lack of legal certainty is often cited as the main barrier to developing a sound crypto-asset market in the EU,” Dombrovskis said. Related: Australia Post Now Lets Customers Buy Bitcoin at Over 3,500 Outlets Some EU members have taken matters into their own hands, which damages market integration and makes it difficult for companies to operate across the whole trading bloc. A new regulatory regime for cryptocurrency will not only cover unregulated digital assets, but it will also consolidate and homogenize existing standards across the continent, Dombrovskis said. See also: Italian Banks Are Ready to Trial a Digital Euro Set to be unveiled later this year, Dombrovskis, who was formerly the prime minister of Latvia, didn’t give much away on what the future regime might look like, although he emphasized that it would support and stimulate innovation. Story continues A pilot scheme would allow regulators to provide a space for new experimental solutions to be monitored and observed, he said. While Dombrovskis’ speech contained few specifics, he did say that the EU was particularly keen to bring stricter rules on any project deemed to be a “global stablecoin.” What exactly Dombrovskis means by “global stablecoin” isn’t immediately clear. However, it appears one of the key components is that it’s used instead of traditional fiat currencies and can facilitate a greater number of transactions that cross national borders. See also: Fed Economists Call Fears of Original Libra Stablecoin ‘Overstated’ That might be an inference to initiatives such as Facebooks’ Libra. Stablecoins, possibly like Libra, that operate on a global scale can “raise additional challenges,” Dombrovskis said – they can disrupt financial and monetary stability. “Overall, our approach will be proportionate and relate to the level of risk. That means lighter rules for less risky projects,” Dombrovskis concluded. In the case of global stablecoins, such as Libra, “their potentially systemic role [means] our rules will be stronger.” Related Stories EU Creating a Regulatory Regime for Cryptocurrencies, Says Economic Chief EU Creating a Regulatory Regime for Cryptocurrencies, Says Economic Chief || ‘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. || Crypto Lender BlockFi Says Monthly Revenue Up 100% After Bitcoin Halving User Boost: BlockFi says its monthly revenue has doubled thanks to a surge in new users for its crypto lending service and interest accounts.
• In acompany blogpost on Thursday, the crypto lender said monthly revenue had been climbing since February, when it raised $30 million in Series B funding.
• The revenue increase has been driven bybitcoin's recent halving eventin May, the company said, as well as the launch of a mobile app.
• BlockFi saw more users join in the week of the halving than any other week in its history.
• 7,000 new accounts have had funds added, putting the startup at a 25% month-over-month growth rate, per the firm’s figures.
• New-York basedBlockFisaid it is now “on track to generate $50 million in revenue” over the next 12 months.
• “Monthly revenue has grown four times since Dec. 19 and doubled from the beginning to end of Q2.” said Zac Prince, CEO and co-founder of BlockFi, in an email to CoinDesk.
• The lending platform recently widened its focus on Asian markets. In June, it hired ex-Bank of America Merrill Lynch global equities portfolio sales trader Rishi Ramchandani to head the company’s business development in the region.
• Singapore-based hedge fund Three Arrows Capital and crypto mining pool Poolin have joined as strategic partners to assist with the Asia push.
• Former U.S. Defense Department and Microsoft alum Adam Healy came aboardas BlockFi's security chiefin mid-June, charged with protecting client data, digital assets and proprietary information.
See also:Bitcoin Mining Pool Poolin Partners With BlockFi to Expand Crypto Lending Service
• Crypto Lender BlockFi Says Monthly Revenue Up 100% After Bitcoin Halving User Boost
• Crypto Lender BlockFi Says Monthly Revenue Up 100% After Bitcoin Halving User Boost
• Crypto Lender BlockFi Says Monthly Revenue Up 100% After Bitcoin Halving User Boost
• Crypto Lender BlockFi Says Monthly Revenue Up 100% After Bitcoin Halving User Boost || H&R Block To Offer New Detroit Pick-Up Tax Service: H&R Block, Inc. (NYSE: HRB ) formally announced the launch of a new pick-up service in Detroit, ahead of the July 15 filing deadline, providing clients tax expertise and support at home. What Happened? As of May 29, the IRS reported 133.8 million federal income tax returns received, compared to 143.1 million filed during the same time last year. The addition of the new solution unlocks access to remote tax preparation for individuals worried about travel. “According to a recent H&R Block survey, 58% of Detroit residents are anxious about leaving their homes. Whether clients are immunocompromised, serve in jobs requiring them to self-quarantine or simply remain cautious, H&R Block is here to help,” said Karen Orosco, senior vice president of U.S. retail, H&R Block. Why It's Important: “We’re proud to offer this new service as one more way we are providing our clients with access to the help and expertise they need to get their best tax outcome even during these unprecedented times," said Orosco. In addition to the new service, H&R Block offices in the Detroit area will remain open for in-person tax preparation. To learn about H&R Block’s tax preparation, financial services, and small business solutions, please visit hrblock.com . Photo by LinkedIn Sales Navigator from Pexels. See more from Benzinga Binance Launches Quarterly BTC/USD Futures With Up To 125x Leverage Michigan-Based Derq Assists Dubai Silicon Oasis Authority With Smart City Solutions Ally Invest's President On Inclusivity, Democratized Investing: 'Share The Burden' © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 9581.07, 9536.89, 9677.11, 9905.17, 10990.87, 10912.82, 11100.47, 11111.21, 11323.47, 11759.59
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2015-09-22]
BTC Price: 230.62, BTC RSI: 45.17
Gold Price: 1125.00, Gold RSI: 51.46
Oil Price: 45.83, Oil RSI: 51.43
[Random Sample of News (last 60 days)]
Car Sharing Is Transforming The German Auto Market: In busy German cities, the need to own a car is steadily decreasing. Residents, who say the expenses associated with owning their own vehicle and the hassle of finding a parking space are not worth it, have turned to car-sharing services, which have caught on in a big way.
While the idea of sharing a car rather than buying it may not sound like a good business plan for an automaker, German car manufacturersBMW AGandDaimler AG(OTC:DDAIF) have both launched their own successful sharing programs.
Taking Off
Car sharing hasexploded in popularityin Germany where many young people who would ordinarily buy a mid-range vehicle are opting instead to save that cash and enroll in a sharing service that allows them to drive higher end vehicles like BMW's. The result has been a decline in car ownership in major cities, which has in turn cut down on vehicle density.
Related Link:Uber To Shift Into Financial Services
What's In It For Them?
For car dealers like BMW and Daimler, car sharing represents an interesting opportunity to gain loyal customers. Young professionals in their 30's use the service at a time when they would have traditionally purchased their own car. As the target market for higher-end vehicles tends to center on a higher age group between 40-50 years old, the car sharing service gives younger people a chance to get hooked on the car maker's brand.
Working Together
Daimler's Car2Go service and BMW's DriveNow program are both hoping to see their success in Germany replicated in other cities around the world. Car2Go has already begun setting up shop in places like Milan and Columbus, Ohio, while DriveNow is working to secure deals on free parking for its drivers.
See more from Benzinga
• Security Proves A Challenge In Today's Market Yet Again
• How China's Devaluation Is Impacting Markets
• Are Yuan Holders Turning To Bitcoin?
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || BitX Selects Zazoo to Offer Interoperable Spend via Mobile Virtual Card Technology: LONDON, UNITED KINGDOM--(Marketwired - August 13, 2015) -ZAZOO, a business unit of Net 1 UEPS Technologies, Inc. ("Net1")(UEPS)(JSE:NT1), has signed an exclusive deal withBitX, a leading universalBitcoinplatform that will make it possible for Bitcoin users to spend their crypto-currency online or in-app exclusively using VCpay™, ZAZOO's patented mobile virtual card ("MVC") technology.
"We are very excited to be working with BitX as crypto-currencies are starting to gain prominence worldwide, and are positioned to be one of the next big things in the fin-tech space," says Philip Belamant, Managing Director of ZAZOO.
"This collaboration eliminates the current challenge experienced by these new currencies, namely that of interoperability with the existing financial system, by providing a seamless gateway between crypto-currencies and traditional payment channels, resulting in the immediate and pervasive acceptance of Bitcoins as a payment currency in the online world. This collaboration will enable BitX and VCpay™ users to now spend Bitcoins agnostically, anywhere online and anywhere in the world, without any changes to the existing acquiring or switching infrastructures. We believe that BitX is an ideal partner for our technology as it is a rising star in the crypto-currency field, and supported by astute investors such as Naspers," says Belamant.
Marcus Swanepoel, Chief Executive Officer of BitX said: "The gap between the speculative trade in digital currency and users' ability to trade the currency for any item that they choose is closing, with VCpay™ as a critical enabler in this transition."
Bitcoin is a decentralised digital commodity that provides an alternative to transacting with traditional currencies. Bitcoin is like digital cash, and can be transferred from person to person or from a person to a business, instantly, securely and irreversibly, without going via a processing house. Users can buy and sell Bitcoin from Bitcoin platforms like BitX, using traditional currencies, and they can use the crypto-currency to buy a select range of goods and services online and offline."Inter-connecting VCpay™ and BitX means that anyone who has Bitcoin will be able use MVCs from their mobile device, completely offline and without the need to access a mobile phone network," says Belamant. "Customers can then use these MVCs to pay for goods and services online or at any merchant that accepts debit or credit card payments, or they can transfer funds to family or friends who do not own Bitcoin via standard remittance applications."
Users activate VCpay™ by following a simple over-the-air registration process and linking the application to numerous funding options, including credit cards, EFTs, direct top-ups, crypto-currencies and more. VCpay™ provides a secure alternative to conventional plastic cards by using existing international payment structures. MVC technology can thus be used anywhere in the world, without requiring merchants to make any changes to their hardware or software platforms. MVC is also NFC ready and can be used to transact at NFC enabled points of sale.
The deal between VCpay™ and BitX will make it possible for Bitcoin users to integrate the various virtual worlds in which they operate in order for them to gain tangible benefits. For example, an MMO ("Massively Multiplayer Online") gamer will be able to sell materials within the game in exchange for Bitcoins and will then be able to generate a VCpay™ MVC to pay for his UBER ride. Alternatively, he could speculate in Bitcoins on BitX and convert his balance or gains into a VCpay™ MVC to spend anywhere online.
"We look forward to rolling out this technology over the coming months, and whilst users will be able to spend their Bitcoin funded virtual card anywhere in the world, the initial target markets include Europe, Singapore, Philippines, South Africa, Nigeria, Kenya, Malaysia and Indonesia," adds Belamant.About ZAZOO(www.zazooltd.com)ZAZOO is an aggregation of innovative technology companies and a leading provider of payment solutions and transaction processing services. ZAZOO's diverse product offering is consolidated into five primary business lines, namely: Mobile Banking, MNO Solutions, Third Party Payments, Cryptography, and Smart Card technologies.
About Net 1 UEPS Technologies, Inc. (www.net1.com)Net1 is a leading provider of alternative payment systems that leverage its Universal Electronic Payment System ("UEPS"), to facilitate biometrically secure, real-time electronic transaction processing to unbanked and under-banked populations of developing economies around the world in an online or offline environment. Net1's UEPS/EMV solution is interoperable with global EMV standards that seamlessly permit access to all the UEPS functionality in a traditional EMV environment. In addition to payments, UEPS can be used for banking, healthcare management, payroll, remittances, voting and identification. Net1 operates market-leading payment processors in South Africa and the Republic of Korea. In addition, Net1's proprietary MVC technology offers secure mobile payments and banking services in developed and emerging countries. Net1 has a primary listing on NASDAQ and a secondary listing on the Johannesburg Stock Exchange.
About BitX (https://bitx.co/)BitX was founded in 2013 and is headquartered in Singapore with offices in Cape Town and Jakarta. The company aims to make money frictionless and universally accessible by building an open, intelligent global platform that leverages the most optimal technologies available, including Bitcoin and the blockchain. || IBM Gets Behind Blockchain: While bitcoin and other cryptocurrencies have struggled to find mainstream appeal, blockchain, the ledger like technology that they run on, has been touted as one of the most important technological advancements of the past decade. The system has the ability to facilitate transactions in a way that many say will transform more than just the financial industry.
That idea is now being put into practice by tech giantInternational Business Machines Corp.(NYSE:IBM), as the company announced that it is working to use the technology to create a "smart contracts" system.
Related Link:Buy Some Bitcoin With This ETF
Smart Contracts
TheWall Street Journalreported that IBM Research Senior Vice President Arvind Krishna said that the firm is working on a way to develop blockchain technology into a system that can facilitate contracts. The system is expected to eventually be released as open-source software and will likely give other big name companies reason to look into using the technology.
Improving Business Transactions
IBM's smart contracts system won't include the use of cryptocurrencies, but will instead draw on blockchain's ability to track individual transactions but keep the details private. The idea is to allow companies to embed rules into their contracts and allow the blockchain system to enforce them.
One example the company is looking into would be a system that automatically pays for goods once they are delivered, however the possibilities for using the technology could reach into several aspects of business operations.
See more from Benzinga
• IBM Uses Tennis To Demonstrate Its Dominance In Data
• U.S. Tech Firms Hope To Have A Say In New EU Digital Market Rules
• iBusiness, iPrograms: Apple Stretches Its Legs
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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.
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.comPress Contact:[email protected]
SOURCE:MarilynJean Media Interactive || IBM Gets Behind Blockchain: While bitcoin and other cryptocurrencies have struggled to find mainstream appeal, blockchain, the ledger like technology that they run on, has been touted as one of the most important technological advancements of the past decade. The system has the ability to facilitate transactions in a way that many say will transform more than just the financial industry. That idea is now being put into practice by tech giant International Business Machines Corp. (NYSE: IBM ), as the company announced that it is working to use the technology to create a "smart contracts" system. Related Link: Buy Some Bitcoin With This ETF Smart Contracts The Wall Street Journal reported that IBM Research Senior Vice President Arvind Krishna said that the firm is working on a way to develop blockchain technology into a system that can facilitate contracts. The system is expected to eventually be released as open-source software and will likely give other big name companies reason to look into using the technology. Improving Business Transactions IBM's smart contracts system won't include the use of cryptocurrencies, but will instead draw on blockchain's ability to track individual transactions but keep the details private. The idea is to allow companies to embed rules into their contracts and allow the blockchain system to enforce them. One example the company is looking into would be a system that automatically pays for goods once they are delivered, however the possibilities for using the technology could reach into several aspects of business operations. See more from Benzinga IBM Uses Tennis To Demonstrate Its Dominance In Data U.S. Tech Firms Hope To Have A Say In New EU Digital Market Rules iBusiness, iPrograms: Apple Stretches Its Legs © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || 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) || Colorado Prepares For Green Wednesday: On Wednesday, September 16, Colorado's marijuana enthusiasts will enjoy a one-daytax holidayin which the state's 10 percent tax on cannabis products will be repealed.
The prospect of buying tax-free pot has the state's drug users gearing up for a shopping spree and has prompted dispensaries to offer deep discounts reminiscent of traditional retailer's Black Friday deals. With the holiday just under a week away, Colorado's pot scene is already preparing.
Tax Glitch
Green Wednesday is the result of a loophole in the Colorado tax law which requires the state to refund some taxes if revenue exceeds estimates. Recreational pot is taxed at 10 percent in Colorado, but on September 16, that tax will be waived and shoppers will pay only the 2.9 percent sales tax that is applied to all goods bought within the state. Shoppers will have to pay any taxes applied by the local jurisdiction in which the retail marijuana is sold.
Colorado also has a 15 percent state excise tax, which is applied to sales or transfers from a retail marijuana cultivaton. A discount on this tax will not be applied to shoppers.
Related Link:Marijuana Posts A Major Win On The Campaign Trail
The holiday will make an ounce of marijuana about $20 cheaper than normal and is expected to cause Colorado's government to lose out on $3 to $4 million worth of revenue.
Huge Turnout Anticipated
Dispensaries and pot-related businesses are expecting a huge turnout on Wednesday as consumers bulk up their supply or marijuana while the drug is cheap. To lure the crowds into their businesses, many are offering additional price cuts to celebrate the tax holiday.
Colorado's oldest and largest dispensary, The Grass Station, will give customers who enter the store before 9:16 a.m. ET a 50 percent discount on their entire purchase and will offer a 10 percent discount for the remainder of the day.
See more from Benzinga
• Wall Street Joins The Bitcoin Movement
• Investors Look To China For Bargain Buys
• Phone Carriers Hoping To Profit From New iPhone
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The Isle Of Man Could Become Most Bitcoin-Friendly Place On Earth: Bitcoin has struggled to make its way into mainstream use for years as merchants, government officials and consumers all worry about security and longevity when it comes to cryptocurrencies.
One way the bitcoin community has been working to make the currency more approachable has been through regulation, though many claim that strict laws governing bitcoin use could take away from the decentralized nature of digital currencies. However, some governments are embracing bitcoin as a revolutionary new technology and working together with the industry to create laws that will promote usage while still allowing the currency to expand. This is especially true in the Isle of Man, which could soon become the most bitcoin-friendly place on earth.
Related Link:Did Barclays Start The Bitcoin Bull Run?
Working Together
The Manx government has beenworking to supportthe bitcoin industry for years. Recently, government officials agreed to amend the island's laws to include bitcoin businesses. By creating transparent laws that cryptocurrency startups must adhere to, the government is hoping that more people will become comfortable using digital currencies.
The straightforward laws protect against money laundering and criminal activity, and give new businesses a blueprint to follow in order to adhere to the region's regulations. Regulators, cryptocurrency industry leaders and government officials have promised to keep an open dialogue regarding the laws in order to ensure that they keep pace with the fast changing fintech landscape.
Blockchain Registry
Perhaps the most surprising step toward bitcoin acceptance on the Isle of Man was the Manx government's decision tocreate a registryfor cryptocurrency businesses using blockchain itself. Together with blockchain startup Pythia, Manx government officials plan to create a database powered by blockchain in which all of the island's cryptocurrency firms will be registered. The decision will make the Isle of Man the first country to use blockchain in order to maintain official data.
See more from Benzinga
• September Rate Hike: Will They Or Won't They?
• Betting On More Than The Game During Football Season
• McDonald's Goes Cage Free In Latest Attempt To Turn Image Around
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Investors Look To China For Bargain Buys: August was a messy month for Chinese share markets, but many believe that Beijing's plans to modernize financial markets and shift toward a consumer-focused economy will be enough to turn things around in the future. For that reason, some investors are picking through the Chinese market's rubble and looking for bargain buys . Who Stands To Gain While commodities are still considered too risky, investors are turning to promising sectors like insurance and consumer goods which are expected to weather the economic storm. China Taiping Insurance Holdings Co. (OTC: CTIHY ) lost 35 percent following the yuan's devaluation, but the company's growth in recent years suggests that its financials are solid. Firms like liquor retailer Kweichow Moutia Co., maintain high profit margins, but the recent crash has stripped more than 20 percent from their share values. Related Link: Why China Isn't Killing Alibaba Location, Location, Location Many investors are looking to blue chip stocks traded on American exchanges but headquartered in China for a good deal. China Mobile (NYSE: CHL ), has long been considered a good buy as the company's position as China's largest network provider and its partnership with Apple Inc. (NASDAQ: AAPL ) have given it a leg up over other telecoms. However, the company's shares have fallen 8.5 percent over the past month as uncertainty in China persists. Worth The Risk? While investing in China now could be a profitable decision, many are still wary of taking positions at such an uncertain crossroads. While Chinese officials have promised to make the nation's markets more approachable to Western investors, their tactics to restore balance to share markets have been questionable. Limits on buying and selling coupled with government led efforts to inflate prices have made China's share markets a risky bet for outsiders . Others worry that the nation's economy is doomed to continue declining despite lawmakers' best efforts, something that would weigh on even the country's strongest firms. Story continues See more from Benzinga Phone Carriers Hoping To Profit From New iPhone AXA Interested In Bitcoin's Potential IBM Uses Tennis To Demonstrate Its Dominance In Data © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || IBM To Change Its Role In Healthcare: International Business Machines Corp.(NYSE:IBM) has long provided hospitals and medical centers with computers and operating systems that help track patient data, organize information and help smooth out the chaotic daily operations healthcare professionals face.
However, the company appears to beexpanding its role in the healthcare spacein order to solve medical problems as well as operational ones.
IBM is planning to acquireMerge Healthcare Inc(NASDAQ:MRGE), a medical image storage company, in a deal which will allow IBM to extend its reach a bit further.
Artificial Intelligence
IBM is planning to use Merge's massive database of X-ray, MRI and other images to create a system that will aid doctors in diagnosing patients quickly and correctly.
In order to do this, IBM will use deep learning, a technique used to power things like voice recognition and fraud detection. Computers are given a huge amount of data to sort, and by doing that the machine is able to learn patterns and use them for future detection. IBM believes that this type of system would allow its computers to detect things like tumors or heart disease.
Related Link:An Industry You Probably Didn't Know Was Digitized: Agriculture
Risks
While the idea is promising, IBM will face a lot of hurdles in the development process. As medical data is often complex and each case can differ widely, artificial intelligence may struggle to correctly identify patterns.
However, many believe that IBM's access to medical data in combination with Merge's images could give the company enough information to discover new diagnosis patterns that were previously unseen.
Still, the prospect of using machines for diagnosis is still far in the future. Most believe that IBM's new system will become a companion or supplementary tool for doctors.
See more from Benzinga
• China Moves To Devalue Currency, Investors Cringe
• U.S. Bank Regulator Keeps An Open Mind On Bitcoin
• According To Facebook, 'LOL' Is Out
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
buysellbitco.in #bitcoin price in INR, Buy : 18156.00 INR Sell : 17544.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || #RDD / #BTC on the exchanges:
Cryptsy: Error
Bittrex: 0.00000005
Average $1.2E-5 per #reddcoin
08:00:01 || Current price: 259.69€ $BTCEUR $btc #bitcoin 2015-07-31 18:00:04 CEST || Bitcoin traded at $275.4 USD on BTC-e at 12:00 PM Pacific Time || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000005
Bittrex: 0.00000005
Average $1.3E-5 per #reddcoin
11:00:01 || LIVE: Profit = $43.00 (0.80 %). BUY B18.68 @ $288.88 (#Bitfinex). SELL @ $289.88 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || 1 #BTC (#Bitcoin) quotes:
$280.41/$280.56 #Bitstamp
$277.00/$277.30 #BTCe
⇢$-3.56/$-3.11
$280.41/$280.42 #Coinbase
⇢$-0.15/$0.01 || bitcoin rate-2015-08-12 PDT start_rate:$268.00 current_rate:$267.28(-0.27%) #bitstamp @MoneysEdge http://www.moneysedge.com/bitcoin || buysellbitco.in #bitcoin price in INR, Buy : 19118.00 INR Sell : 18530.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || $231.87 #bitstamp;
$229.00 #btce;
Instantly buy GH/s with BTC: http://bit.ly/LN53k1
#bitcoin #btc
|
Trend: up || Prices: 230.28, 234.53, 235.14, 234.34, 232.76, 239.14, 236.69, 236.06, 237.55, 237.29
|
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 2017-03-03]
BTC Price: 1274.99, BTC RSI: 81.53
Gold Price: 1225.50, Gold RSI: 48.30
Oil Price: 53.33, Oil RSI: 50.35
[Random Sample of News (last 60 days)]
Costco has become a major driver of Citi's business: (BI Intelligence)
This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, pleaseclick here.
Citigroup's acquisition of Costco's co-branded credit card portfolio from Amex in June 2016 continues to pay off.
In its Q4 2016 earnings release, Citi posted8%overall revenue growth on a constant-currency basis.
The Costco portfolio appears to be a major driver of Citi’s overall growth right now.
• Costco cards are still driving massive spending. The customer base, which likely totals roughly 12 million, saw over$52 billionin purchase sales in its first six months, and over $6 billion in loan growth, according to the firm's earnings call. That’s really strong performance — for context, Amex saw roughly $80 billion in Costco billed business in 2015, which puts Citi’s annual run rate roughly $24 billion ahead of the Amex card.
• That’s propelling growth in Citi’s US branded cards business. Citi’s branded cards earned $2.2 billion in revenue in Q4 2016, posting 15% growth year-over-year (YoY). Without Costco, that growth rate dips to 2%, showing the massive impact that the portfolio acquisition continues to have on Citi’s business.
• And growth in branded cards revenue is one of the major drivers of Citi overall. Citi’s other segments aren’t performing this strongly — retail banking revenue was down 4% YoY, and retail services remained flat. Growth in branded cards, which was driven by Costco, reflects just how pivotal the portfolio is to Citis’ results.
And while that’s good in the short term, the rewards rat race we’re seeing could pose some problems for the bank moving forward. Costco has given Citigroup immense growth in the months since acquisition. But it’s also leading to rising costs — operational expenses, for example, rose 6% YoY in Q4, largely reflecting expenditure on the Costco portfolio.
The firm will have to “overcome promotional balances” in order to maintain success. And though Costco feels “well-positioned” to do so, keeping an eye out for the bank’s branded cards and other new investments will be key. That’s particularly true in light of stiff rewards competition, which is raising expenses for card networks but providing sometimes limited returns.
The Costco and Citigroup relationship is just one part of the broader payments ecosystem, which has grown to include vendors, merchants, acquirers, processors, and more.
John Heggestuen, director of research atBI Intelligence, Business Insider’s premium research service, has compileda detailed report on the payments ecosystemthat drills into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as revealing which types of companies are in the best and worst position to capitalize on the latest industry trends.
Here are some key takeaways from the report:
• 2016 will be a watershed year for the payments industry. Payments companies are improving security, expanding theirmobile offerings, and building commerce capabilities that will give consumers a more compelling reason to make purchases using digital devices.
• Payments is an extremely complex industry. To understand the next big digital opportunity lies, it's critical to understand how the traditional credit- and debit-processing chain works and what roles acquirers, processors, issuing banks, card networks, independent sales organizations, gateways, and software and hardware providers play.
• Alternative technologies could disrupt the processing ecosystem. Devices ranging from refrigerators to smartwatches now feature payment capabilities, which will spur changes in consumer payment behaviors. Likewise, blockchain technology, the protocol that underlies Bitcoin, could one day change how consumer card payments are verified.
In full, the report:
• Uncovers the key themes and trends affecting the payments industry in 2016 and beyond.
• Gives a detailed description of the stakeholders involved in a payment transaction, along with hardware and software providers.
• Offers diagrams and infographics explaining how card transactions are processed and which players are involved in each step.
• Provides charts on our latest forecasts, key company growth, survey results, and more.
• Analyzes the alternative technologies, including blockchain, which could further disrupt the ecosystem.
To get your copy of this invaluable guide, choose one of these options:
1. Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >>START A MEMBERSHIP
2. Purchase the report and download it immediately from our research store. >>BUY THE REPORT
The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the payments ecosystem.
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• European acquirer Worldpay is piloting a phone-based mobile point-of-sale platform
• Samsung Pay expands beyond the Galaxy in India
• Amazon's new Prime Reload program rewards users but challenges banks || Chinese bitcoin exchanges say to strengthen scrutiny of customers: By Brenda Goh SHANGHAI (Reuters) - China's three largest bitcoin exchanges said on Thursday they will strengthen oversight of customers' identities and sources of funds, in the latest shift since the Chinese central bank stepped up its scrutiny of the industry. BTCC, OkCoin and Huobi said in identical statements on their websites that they wanted to curb market speculation and prevent activities such as currency exchange through bitcoin, which they warned was not issued by monetary authorities and carried high risk. Their move comes after China's central bank said it called nine of the country's smaller bitcoin exchanges in to a Wednesday meeting to discuss risks in the bitcoin market, and warned them that they risked closure if they seriously violated regulations or took part in activities such as margin lending. The price of bitcoin on European bitcoin exchange Bitstamp fell by as much as 9 percent on Thursday from the previous day, trading at $960. Beijing signaled that it was keeping a closer eye on the bitcoin industry last month by launching checks into BTCC, Huobi and OkCoin, amid growing government efforts to stem capital outflows and relieve pressure on China's currency, the yuan. While the yuan weakened 6.6 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs.] That, and the relative anonymity the digital currency offers, has prompted some to believe bitcoin has become an attractive option for tech-savvy Chinese to hedge against the yuan and skirt rules limiting how much foreign exchange individuals can buy each year. BTCC, Huobi and OkCoin last month stopped margin lending and introduced trading fees after the PBOC launched checks into them. In their Thursday statements, they also said they may freeze assets or limit trading by users who were found to flout the rules. Their statements also contained links to documents published by China's banking regulator that warned investors about market risks. Story continues News of meetings between the various exchanges and the People's Bank of China (PBoC), and other government agencies has caused the bitcoin price to swing wildly. On Wednesday, the price fell from a one-month high after sources at bitcoin exchanges in China said the PBoC had summoned some exchanges to a closed-door meeting, before recovering all of those losses in U.S. and European time. The PBOC said the nine exchanges involved in the Wednesday meeting were CHBTC, BtcTrade, HaoBTC, Yunbi, Yuanbao, BTC100, Jubi, BitBays and Dahonghuo. Industry insiders said the majority of these exchanges allowed other cryptocurrencies to be traded on their platforms besides bitcoin. BtcTrade, Bitbays and BTC100 declined to comment on the meeting. Reuters was unable to immediately reach the other six platforms for comment. Charles Hayter, CEO of London-based digital currency analytics firm Cryptocompare said the Chinese actions would ultimately be good for the industry. "The PBoC moves to regulate Bitcoin more stringently will bring short-term woes but will ultimately strengthen the ecosystem," he said in a statement emailed to Reuters. According to Hayter's analysis, trading between the Chinese yuan and bitcoin has fallen to around 26 percent of the bitcoin-fiat currency market from 98 percent at the start of the year. (Reporting by Brenda Goh; Additional Reporting by John Ruwitch and SHANGHAI Newsroom; Editing by Sam Holmes and Adrian Croft) || Bitcoin is surging – but that might not mean what you think: Bitcoin(Exchange: BTC=-USS)– the volatile digital currency that is used for a bevy of transaction, investment and value-storing purposes – is hovering around all-time highs, and its value has surged 175 percent in the past year.
But even though bitcoin is rising alongside gold, and it is often seen as an alternative "safe haven asset," this rally may actually be confirming the rally in stocks, rather than presenting a warning sign.
The currency has become more mainstream as additional companies accept bitcoin as a form of payment, Miller Tabak equity strategist Matt Maley said Wednesday on "Trading Nation." According to this thinking, demand for bitcoin will rise as economic activity increases.
Bitcoin was created in 2009 in the midst of the financial crisis as a brand-new currency and payment network, and remains somewhat in the Wild West of currencies, without universal regulation, no central authority and tracked by ledger-like blockchain technology maintained by different firms.
Companiesfrom MicrosofttoSubwayto popular blog platformWordPressnow accept bitcoin as a form of payment.
More recently, Switzerland's financial regulatory authoritygranted a bitcoin firm approvalto operate, Reuters reported, andin late 2016JPMorgan was reported to have been working on its own type of blockchain technology to support bitcoin. Perhaps boosting bitcoin activity, too, is the prospect of bitcoinexchange-traded fund creationand bitcoin storage providers.
In the past, bitcoin rallies have frequently been seen as signs that investors are turning away from conventional assets, and hunting for places to stash their money. But as bitcoin has developed more "mainstream" business uses, Maley argued, it has become more correlated with equities.
A look at bitcoin's performance relative to the S&P 500(INDEX: .SPX)'s over the last five years does not show any particularly close mathematical relationship between the two.
Nobel laureate and economist Joseph Stiglitzsaid in Januaryat the annual World Economic Forum meeting in Davos, Switzerland, that the United States moving toward digital currency would have meaningful benefits like curbing corruption and increasing transparency in global financial markets, two themes from this most recent meeting.
"There are important issues of privacy, cybersecurity, but it would certainly have big advantages," he said.
Bitcoin is not fiat currency, with no backing from a government that issues it, and the space is volatile given its lack of regulation. This month alone, bitcoin has risen 25 percent after dipping nearly 5 percent in January. It has climbed nearly 22,000 percent in five years while the dollar is up 28 percent in the same time period.
"The big fear around bitcoin is just one day when the governments come out and say, 'We're no longer going to allow this,' and we're going to shut it down. But in a world of Armageddon, where the world ends, currencies will go by the way of the countries; bitcoin, like gold, will still have value because of the blockchain-ing that goes on behind it," Dennis Davitt, portfolio manager at Harvest Volatility Management, said Wednesday on "Trading Nation."
The digital currency has a ways to go before becoming a full-on "mainstream" currency, but it's very much a real system of payment, Nicholas Colas, chief market strategist at Convergex, told CNBC on Wednesday. Given bitcoin's volatility, every time investors buy the currency at new highs, "you kind of want to hold your nose," Colas said, given its volatile nature and all the hills and valleys that come along with it.
Mt. Gox, a Tokyo-based digital currency exchange,went bankrupt in 2014after substantial losses in the bitcoin space, sending the value of bitcoin tanking.
— CNBC's Alex Rosenberg contributed reporting. || 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 rallying for an 8th straight day
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• Bitcoin is busting out || Yuan Eyes on China 4Q GDP, Davos Forum: DailyFX.com - Yuan Eyes on China 4Q GDP, Davos Forum Fundamental Forecast for the Yuan: Neutral Yuan, FX Policy Force Major Bitcoin Volatility USD/CNH: Is a New Trend Setting In? Check out DailyFX analysts' top trading ideas for 2017 This week, the offshore Yuan remained stronger than the onshore Yuan and the PBOC’s guidance. On Friday, the USD/CNY closed at 6.8984, slightly weaker than the Yuan fix set on Friday of 6.8909; the USD/CNH traded at 6.8419 as of 3:30pm EST, 0.8% stronger than the onshore pair. Looking forward, the headline event on China’s economic calendar will be the 2016-4Q Gross Domestic Product (GDP) print that is scheduled to release at 21:00 EST on January 19th. China’s Deputy Finance Minister Zhu Guangyao told a week ago that he is confident that the economy will maintain a 6.7% growth, as in the previous three quarters, or above this level. A consensus forecast from Bloomberg agreed with a 6.7% increase. The GDP print itself seems less likely to turn into a surprise on Thursday. More importantly, traders will want to take a close look at the breakdown of China’s major sectors, in the effort to find out more clues on the economic outlook in 2017. Also, Chinese President Xi Jinping will attend the World Economic Forum in Davos next Tuesday, which is expected to attract global attention. China’s industrial sector has shown improvements in the third quarter with multiple enhanced indicators: Both the official PMI and Caixin PMI reads in the fourth quarter stayed above 50, in the expansion territory. In specific, the Caixin PMI in December 2016 hit 53.5, the highest level in 45 months. Electricity consumption by the industrial sector, a major component in Keqiang Index , grew from October to November (December read is not available yet). In terms of investment, total investment picked up from a 16-year low of 8.1% reached in July 2016 to 8.3% in both October and November. Also, companies began to increase borrowing according to the December New Yuan Loans report: newly issued corporate medium-term to long-term loans increased to $695.4 trillion, rising +71% month-over-month or +50% year-over-year; this indicates that companies may have started to expand their businesses. In 2017, the Chinese government will maintain proactive fiscal policy with increasing expenditures and tax cuts, which are expected to further support domestic industries. Story continues On the other hand, China has been facing growing challenges in international trade, including the weak global demand as well as rising trade disputes with major partners. In December 2016, China’s exports plunged -6.1% in Dollar terms, not only worse than a -3.8% forecast from Bloomberg but also marking the largest fall since 2009. Based on the breakdown of trading figures provided by China’s Customs, the growth of China’s exports to U.S. slowed down by -2.1% in December in Yuan terms and the growth of imports from U.S. slowed down by -13.5%. Trump’s pick on trade could put China on an even more difficult spot. This is one of the major risks that may impact the country’s growth. According to China Academy of Social Science, a leading Chinese think tank, the economic expansion is expected to drop to 6.5% in 2017 , which means it may provide limited support to the Chinese Yuan. Next week, Chinese President Xi will attend Davos’ Forum as the first Chinese president. When there is a major national event for China, Yuan volatility tends to drop, such as what was seen during the G20 meetings in China last September. Also, at the Davos’ meeting, President Xi may address major Chinese policies as well as comment on China’s global role, both worth keeping an eye on. Currently, the USD/CNH is waiting for justifications for a new trend ; China’s economic outlook and policy in 2017 may provide more clues. original source DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. Learn forex trading with a free practice account and trading charts from IG . || Trump Trick and Tweets: These ETFs May Prosper Ahead: This article is part of a regular series of thought leadership pieces from some of the more influential ETF strategists in the money management industry. Today's article is by Scott Kubie, CFA, chief strategist of Omaha, Nebraska-based CLS Investments. Donald Trumps narrow presidential victory, Brexit and stronger nationalist tendencies in Europe and Asia indicate an underlying shift in the emphasis of consumers and government policy. While it may continue to cause some volatility, the shift will benefit economic growth through a few key changes in behavior: Greater consumer optimism fuels increased consumption Expansionary fiscal policies support infrastructure projects Regulatory reform increases potential business investment Economic trends show this transition is already in motion. Research originally conducted by MSCI and updated by CLS separates economic regimes into the four different quadrants seen in the chart below. This chart shows the global economy has moved from the slow-growth quadrant to the heating-up quadrant. The heating-up quadrant is associated with stronger economic growth and increasing inflation. Inflation Ratio For a larger view, please click on the image above. This shift will create opportunities for the patient investor in the coming years. There will be numerous ways to tilt portfolios toward these themes. This article briefly summarizes three opportunities CLS sees in the current environment. Value Over Growth All three of the key changes noted above should boost value stocks relative to growth stocks. Rising consumption broadens sales growth, infrastructure projects increase demand for physical goods, and a more favorable regulatory environment benefits energy and materials stocks. All of those trends should boost interest rates and loan demand, supporting financials as well. Prior to 2016, value had lagged growth in six of the previous nine years, and had never outperformed by more than 2.3%. In the six years growth outperformed, three of them (2007, 2009 and 2015) did so by 9.5% or more. Story continues Cumulatively, growth outpaced value by more than 50% from 2007 to 2015. Last year, value picked up more than 10% on growth in the U.S. (see chart above). While value did well last year, we expect the trend to continue to favor value stocks over the intermediate term. Two ETFs that offer exposure to this trend are: iShares Edge MSCI USA Value Factor ETF (VLUE) Guggenheim S&P 500 Pure Value ETF (RPV) Diversify Creatively While this economic recovery has been very long by historical standards, it has also been slow. Only in recent periods have we seen wage pressures starting to break through after a long wintry economic recovery. Global supply chains have helped keep wages low by allowing firms to transfer production to cheaper areas. The new nationalists will pressure companies to keep more production in the home country. That in turn will push up prices, inflation and interest rates. If the economic trend continues, we expect new quarterly inflation data to continue to be above the past quarters data. Based on our higher expectations for inflation, we believe TIPS will outperform nominal U.S. Treasury bonds of similar duration. Bank loans also look attractive in a scenario where credit risk is dropping because of good economic growth and increasing yields. In these bond segments, some holdings include: iShares TIPS Bond ETF (TIP) PowerShares Senior Loan Portfolio (BKLN) PIMCO 1-5 Year U.S. TIPS Index ETF (STPZ) Index Smartly The financial crisis has provided the dominant market narrative for investment results since 2007. Any narrative that lasts that long begins to creep into capitalization-weighted indexes. With a new narrative of economic populism usurping the financial crisis as the defining trend in global economics, investors should expect shifts in leadership around the world. If this trend-shift proves to be lasting, cap-weighted indexes will be overexposed to the beneficiaries of recent years and underexposed to value stocks, especially financial stocks. Smart-beta alternatives seem more likely than normal to outperform during a period of rapid change. Here is a sample of smart-beta ETFs , excluding the value ETFs mentioned above: iShares Edge MSCI USA Momentum Factor ETF (MTUM) J.P. Morgan Diversified Return International Equity ETF (JPIN) Guggenheim S&P 500 Equal Weight ETF (RSP) At the time of this writing, CLS Investments invests in all of the securities mentioned above for its clients. CLS Investments is a third-party investment manager and ETF strategist. It began to emphasize ETFs in individual investor portfolios in 2002, and is now one of the largest active money managers using ETFs. Contact CLS' Chief Strategist Scott Kubie, CFA, at 402-896-7406 or at [email protected] . Please click here for a complete list of relevant disclosures and definitions. Recommended Stories Wednesdays Hot Reads: Approving Bitcoin ETFs Will Lead Investors To Slaughter Rebalancing Of Smart Beta ETFs Often Overlooked 2 Smart Beta ETFs Killing It In Emerging Markets February ETF Flows Point To Passive Opportunity Why Low Vol Funds Are Bleeding Permalink | © Copyright 2017 ETF.com. All rights reserved || Hackers Hijack Hotels Smart Locks, Demand Ransom: A resort hotel in Austria has been the target of a series of hacks, including one that crippled the electronic "smart locks" on guest rooms. The attack prevented guests from accessing their rooms and prevented the issuance of new key cards, highlighting the potential fragility of systems in the so-called "internet of things." Lacking other options, the four-star Seehotel J?gerwirt paid the hackers a modest ransom in Bitcoin to reactivate their systems. In a followup statement to Bleeping Computer , the hotel's Managing Director Christoph Brandst?tter emphasized that no guests were locked into their rooms, because international fire codes mandate that electronic hotel locks must open from the inside even in the event of system failure. Get Data Sheet , Fortune 's technology newsletter. According to the Austrian Broadcasting Corporation (ORF), the key system compromise occurred at the beginning of the current ski season, while the hotel was fully booked. A smaller attack, the fourth that has hit the hotel, occurred earlier this month. During the larger attack, which also compromised the hotel's reservation systems, the hijackers demanded a ransom of 1,500 Euros in Bitcoin before re-activating the compromised systems. Another prior attack, over the summer, was also resolved with the payment of a ransom of "several thousand Euros." Police were not able to uncover clues as to the culprits in the hacks. Brandst?tter told ORF that he was aware of other hotels being the target of similar attacks. Add electronic locks, then, to a target-rich environment that includes the poorly secured webcams and DVRs that powered widespread denial of service attacks in October, and, at least in theory, hackable connected cars . The lakeside hotel has already spent a reported 10,000 Euros on digital security to try and stop hackers. But it also plans to take an unconventional step back in time. According to Brandst?tter, the hotel's next remodeling will include a return to room locks with standard mechanical keys. Story continues See original article on Fortune.com More from Fortune.com Forecasting Yahoo's Foggy Fate Facebook, Uber, Slack, and Pandora Pros Praise Free Security Tools The Best Way for Companies to Prepare for Inevitable Data Breaches: Rehearse Exclusive: ForeScout Preps for Possible IPO Adding McKesson Finance Chief to Board John McAfee's Cybersecurity Investment Firm Received a Subpoena from the SEC || Bitcoin plunges as much as 20 percent as Chinese yuan soars: By Jemima Kelly LONDON (Reuters) - A dramatic rally in digital currency bitcoin came to a spectacular end on Thursday with a plunge of up to 20 percent as China's yuan rose sharply - further evidence of an intriguing inverse relationship between the pair. Bitcoin had gained more than 40 percent in two weeks to hit a three-year high of $1,139.89 on Wednesday, just shy of its all-time record of $1,163 on the Europe-based Bitstamp exchange (BTC=BTSP). But it dived as low as $885.41 on Thursday as the yuan jumped by over 1 percent in offshore trading and headed for its strongest two-day performance on record. (CNH=D3) [CNY/] Chinese exchanges have reported high volumes of trading of the web-based "cryptocurrency" over the past year, during which time the yuan has shed almost 7 percent, its worst annual performance since 1994, while bitcoin has surged 125 percent, outperforming all other currencies for a second year in a row. Bitcoin can used for moving money across the globe quickly and anonymously, and operates outside the control of any central authority. That makes it attractive to those wanting to get around capital controls, such as in China, and also to investors who are worried about a devaluation in their currency. "Given that the yuan's weakness over recent months seemed to correlate with bitcoin's strength more than any other currency, it's no surprise that bitcoin traders have reacted the way they have to the yuan's sudden strength today," said Paul Gordon, co-founder of London-based Quantave, a firm seeking to make it easier for investors to access digital currency exchanges. 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. Some said bitcoin's fall was a natural reaction to the speed of its previous rise. It is still up more than 50 percent on three months ago, when it was trading at around $600, "If something goes up very rapidly...people make a lot of money, and at some point theyre going to want to sell, in order to realize their gains," said Marco Streng, CEO of bitcoin mining and trading firm Genesis Mining. By 1645 GMT (11:45 a.m. ET), bitcoin had recovered some of its earlier losses to trade down almost 15 percent on the day at around $950, still leaving it on course for its worst performance in a year. Story continues On some digital currency exchanges - of which there are dozens - bitcoin did reach record highs late on Wednesday. "Once we broke through the nominal all-time high, liquidity dried up - no shorts, no sellers, which means a volatile little bubble formed quickly," said Peter Smith, CEO of London-based Blockchain, the biggest bitcoin wallet-provider globally. "We are seeing the effects of that now as it breaks. It's still fairly thin trading volume though, so who really knows where it goes next." For a graphic on the bitcoin economy, click http://fingfx.thomsonreuters.com/gfx/rngs/HONGKONG-BITCOIN/0100106X09S/BITCOIN%20ECONOMY%20T.jpg For a graphic on bitcoin exchange rates, click http://fingfx.thomsonreuters.com/gfx/rngs/1/2097/4051/s3d90f04kz56.htm (Reporting by Jemima Kelly; Editing by Mark Trevelyan) View comments || 10 things you need to know today: EU Parliament vote on Le Pen (Members of the European Parliament voting to decide whether to lift the EU parliamentary immunity of French far-right presidential candidate Marine Le Pen after she came under investigation for tweeting pictures of Islamic State violence.Reuters/Yves Herman) Here is what you need to know. Janet Yellen speaks. Federal Reserve Chair Janet Yellen is set to give her economic outlook at the Executives Club of Chicago at 1 p.m. ET. Traders will be listening for clues as to whether the Fed will hike interest rates at the conclusion of its March 14-15 meeting. World Interest Rate Probability data provided by Bloomberg says there's an 88% chance the Fed hikes by 25 basis points at the meeting. Europe is growing at its fastest pace since 2011 . Markit's final February composite reading for the eurozone came in at 56, well ahead of the 54.4 print from January. "Growth of eurozone economic output accelerated to a near six-year record in February," IHS Markit said in a release. Global manufacturing is making a comeback . Global manufacturers posted their best month in almost six years in February as the JPMorgan-IHS Markit Global Manufacturing Purchasing Managers Index rose by 0.2 points to 52.9, making for the best reading in 69 months. The dominant part of the UK economy is slowing down . UK services PMI slowed to 53.3 in February, missing the 54.2 that economists were expecting. "The slowdown mainly reflected a softer pace of new business growth, which some respondents linked to more cautious spending among consumers," a release from Markit that accompanied the report said. Bitcoin is extending its lead over gold . On Thursday, bitcoin climbed above gold for the first time. On Friday, the cryptocurrency trades up 2% at $1,281 a coin while the precious metal is down 0.5% at $1,228 an ounce. Snap Inc. had a monster debut . Shares of the social-media company shot up 44% in their market debut to close at $24.48 a share, giving Snapchat's parent company a market cap of more than $33 billion. Snap is now bigger than Macy's ($10 billion), Twitter ($11.3 billion), American Airlines ($23.6 billion), and Target ($32.9 billion). Story continues Costco same-store sales miss . The warehouse club retailer reported that same-store sales rose by 3% in its second quarter, missing the 3.2% gain that analysts were forecasting. The company also announced that it planned to raise membership fees as of June 1. Stock markets around the world are mostly lower. Hong Kong's Hang Seng (-0.7%) trailed in Asia, and Germany's DAX (-0.2%) lags in Europe. The S&P 500 is set to open down 0.1% near 2,380. Earnings reporting slows. Big Lots and Revlon will release their quarterly results ahead of the opening bell. US economic data is light. Markit services PMI and ISM Non-Manufacturing will be released at 9:45 a.m. and 10 a.m. ET. The US 10-year yield is higher by 2 basis points at 2.50%. More From Business Insider US military test shows the A-10 'Warthog' can obliterate the small boat swarms that Iran uses Snap surges 44% in its stock market debut — after an IPO that made its 20-something founders multibillionaires 10 things you need to know today || Maple syrup water tapped from trees is the next coconut water: san francisco fancy food show 2186 (Melia Robinson/Business Insider) In 2016, coconut water generated $2.3 billion in sales worldwide. The makers of a new designer brew — a subtly sweet water tapped from maple trees — want to ride the coattails of coconut water's success all the way to the bank. Maple water has captured a modest following since it debuted in 2013. While coconut water still commands 98% of the global "alternative waters" market (which includes water harvested from bamboo, cactus, and artichokes) , maple water has made gains. A recent report from food and drink market researcher Zenith predicts the maple water market will triple in size by 2020. It's unclear how much revenue the category currently drives. "It's not coconut water, yet, from a category-size. We all like to hope that it gets to be that big at some point in time," Mike Roberts, vice president of sales at Sap on Tap , tells Business Insider. The company, founded in 2015, sources water tapped from maple trees on farms across the Northeast. Arbeau , a luxury line of maple waters available in tap and sparkling, launched in 2016 in Canada. The brand's creator, Leanne Pawluk, likens the product to wine. Each batch will take on a slightly different flavor profile, just as wines change season to season. san francisco fancy food show 2197 ("We wanted it to be the champagne of waters," Leanne Pawluk, creator of Arbeau, told Business Insider.Melia Robinson/Business Insider) When I first tried maple water, I expected to taste a sugary syrup similar to what I pour over pancakes. Instead, sipping from a Dixie cup of Sap on Tap water was refreshing. The clear liquid tasted like normal water with a spot of honey — sweet, but not as sugary as a Coca Cola. Each spring, maple tree farmers tap their trees to catch the maple water, which is also known as sap. That liquid — made up of about 98% water and 2% sugar — gets boiled down until it becomes the sticky-sweet staple of breakfast foods, according to Michael Farrell, a maple specialist at Cornell University. It takes 40 gallons of sap to yield one gallon of maple syrup. Maple water may be a more sustainable commercial product than syrup. The trees only give about three gallons of sap per year, and farmers could stretch that supply further in its raw form. In order to be sold, the sap must be filtered to separate out bugs and bacteria. Most products have a shelf life of less than one year. Maple tree sap syrup barn new hampshire (A Parker's Maple Barn employee pours maple tree sap into a larger bucket in Brookline, New Hampshire.Elise Amendola/AP) The future of maple water is ambiguous, however, as climate change threatens sap production . Some predict that fewer freeze-thaw cycles during the late winter and early spring could throw the brakes on sap production. Others worry maple trees will die out due to climate change. Story continues Farrell, who directs a maple syrup research station in Lake Placid, New York, has a more optimistic view. In his book, " The Sugarmaker's Companion ," he outlines several workarounds, including moving up the harvest as temperatures rise and relocating the industry to mid-Atlantic states. And if a warm winter leads to a low sap yield, the product becomes more exclusive. "It's sustainable, it's renewable," Pawluk says. "And it's super cool because it's water from a tree." NOW WATCH: Here's why maple syrup jugs have teeny tiny handles More From Business Insider A Swedish town could give employees paid time off to have sex CEOs love the corner office, but research says it's overrated Bitcoin just hit an all-time high — here's how you buy and sell it View comments
[Random Sample of Social Media Buzz (last 60 days)]
Re: Will Bitcoin be replaced by another cryptocurrency? http://dlvr.it/NP2140 || Крипто бизнес, майнинг Bitcoin и Etereum с COINOMI http://tvoybiz.com/coin/74aplplark47.html … || Is Bitcoin Forming a New Price Floor at $1,000? - CoinDesk - http://ln.is/www.coindesk.com/VHNA6 … || Nocks, Gulden Drop Bitcoin Support, Cite Bad Reputation and Slow Transactions - CoinTelegraph - http://abitco.in/nocks-gulden-drop-bitcoin-support-cite-bad-reputation-and-slow-transactions-cointelegraph/ … || #Triangles #TRI $0.096291 (8.82%) 0.00009339 BTC (7.23%) || * Gana bitcoins, super facil!! , cada 20 minutos hasta 500 Satochis #Bitcoin https://cards.twitter.com/cards/18ce53yr6xi/1eiul … || Eobot week 6 update and 4.0 experiment #btc http://youtu.be/15cqy4BCFSo || 主要な仮想通貨（BTC,ETH,ETC,XRP等）との両替はもちろん可能 https://goo.gl/3nYogp #ノアコイン #noahcoin #仮想通貨 #暗号通貨 #フィンテック #ビットコイン #cryptocurrency #bitcoin #秘匿性 #利息 || “Bitcoin is the most important invention in the history of the world since the Internet.” - Roger Ver || Tenemos un Congressional Caucus integrado por el cannabis y otro caucus por el bitcoin en USA
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Trend: down || Prices: 1255.15, 1267.12, 1272.83, 1223.54, 1150.00, 1188.49, 1116.72, 1175.83, 1221.38, 1231.92
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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 for 2016-08-08]
BTC Price: 591.05, BTC RSI: 40.09
Gold Price: 1333.40, Gold RSI: 50.79
Oil Price: 43.02, Oil RSI: 47.12
[Random Sample of News (last 60 days)]
Bitcoin value plummets after Hong Kong exchange hack: There has been another big bitcoin hack, and it looks like the biggest one since the infamous hack of Mount Gox back in 2011. This time, $65 million worth of bitcoins were stolen from the exchange Bitfinex. The price of bitcoin fell more than 8% after the hack. Here’s exactly what happened. || Silver ETFs Might be due for Pullbacks: The iShares Silver Trust ( SLV ) and ETFS Physical Silver Shares ( SIVR ) are among this years best-performing commodities exchange traded products, but with investors looking for safer assets following the Brexit outcome, some commodities market observers see silver as ripe for a near-term retreat. Silver and other precious metals enjoyed safe-haven demand as the equities market plunged into a correction. The metal also maintained its momentum as the Federal Reserve lowered its interest rate outlook to only two hikes this year from a previously expected four rate hikes. Additionally, with the dovish Fed stance, the U.S. dollar weakened, which made USD-denominated silver cheaper for foreign buyers and a better store of value for U.S. investors. Related: Analysis: Silver ETFs Are Outshining Gold Both SLV and SIVR are bullion-backed silver ETFs the funds shares represent a physical holding in silver bars stored in London, U.K. bank vaults. Potential investors should be aware that physically backed ETFs are taxed as collectibles at a rate of 28% instead of long-term equity rate of 15%. On Monday, we noted that a push higher would likely be difficult for the metal given resistance between the 17.80s and 18.00 vicinity. As it turned out, the third lower high was created at 17.86 before shoving back lower, reports DailyFX. It might not turn into a rout, but a clean undercut into the upper 17.50s on the hourly should lead to near-term weakness towards 17.30/25. If selling becomes aggressive then a move could develop into strong support between 17.07 and 17.13. Trending on ETF Trends 11 Surging Silver ETFs as Two-Year High Looms A Gold Boon for these Glistening ETFs As Bank of England Mulls Rate Cuts, More Pound Punishment Likely As Q3 Begins, Gold Miner ETFs Keep Shining Winklevoss Bitcoin ETF Will Trade on BATS Looking ahead, total global installed photovoltaic power capacity is projected to increase by about 150% to 605 gigawatts by 2020, according to Bloomberg New Energy Finance. Story continues Related: Soaring Silver ETFs to Snap Up as Metals Shine However, increased technological efficiency has reduced the amount of silver required in newer solar panels. The amount of silver used in solar cells has been reduced by 5% to 6% every year. Nevertheless, Andreas Liebheit, head of the photovoltaic business at Heraeus, the German technology group, argued that the diminished requirements have been offset by growth in the overall market of 20% per year. A convincing break of the top-side trend-line puts this view at risk, but again, as said yesterday, there isnt much room for silver to run before running aground with resistance, adds DailyFX. Traders looking to profit from silvers downside can consider the ProShares UltraShort Silver ETF ( ZSL ) For more information on the silver market, visit our silver category . iShares Silver Trust slv2 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. || EU proposes stricter rules on Bitcoin, prepaid cards in terrorism fight: By Foo Yun Chee STRASBOURG (Reuters) - The European Commission proposed on Tuesday stricter rules on the use of virtual currencies and prepaid cards in a bid to reduce anonymous payments and curb the financing of terrorism. Virtual currency exchange platforms will have to increase checks on the identities of people exchanging virtual currencies, such as Bitcoin, for real currencies and report suspicious transactions. Under the Commission's proposals the threshold for making anonymous payments with pre-paid cards was lowered to 150 euros ($167.28) from 250 euros. "Member states will be able to get and share vital information about who really owns companies or trusts, who is dealing in online currencies, and who is using pre-paid cards," EU Commission First Vice-President Frans Timmermans said. Following attacks in Paris last November by Islamic State militants the EU executive said it would step up measures to cut off terrorists' access to funds. French authorities have proved that pre-paid cards were used by the Paris attackers. Prepaid cards are issued by a wide range of operators including banks using major networks, such as Visa and MasterCard. They are different from debit and credit cards because they need to be loaded before payments can be made, but can carry substantial amounts of money. MasterCard said it supported the Commission's objective of strengthening the security of prepaid cards while ensuring that people less well-off could still use them. The proposed higher controls on virtual currencies and pre-paid cards "are important in tackling black market and terrorist financing", said Chas Roy-Chowdhury, head of tax at ACCA, which represents the interests of the accountancy sector. The Commission proposed increasing the amount of checks banks have to carry out on financial flows from risky third countries, namely states with poor anti-money laundering rules and difficulties countering terrorism financing. In a bid to end tax evasion after the publication in April of the Panama Papers - which revealed widespread tax avoidance practices by wealthy individuals - the Commission also proposed rules requiring the beneficial owners of trusts to be recorded in registers that in many cases will be accessible to the public. Story continues Existing and new accounts will be subject to due diligence controls and the Commission will look into finding effective ways for each member state to share information on beneficial owners of companies and trusts. "These proposals for public registers will be welcomed by citizens and anti-corruption activists who want to follow the trail of dirty money," Laure Brillaud, Transparency International EU policy officer, said. "However, we are concerned that it will be all too easy to evade being on the registers in the first place by gaming the rules on trusts. By simply nominating a non-EU resident as a trustee the secrecy can carry on as before," she added. Tuesday's proposals will need to be approved by the EU Parliament and EU states before they become law. ($1 = 0.8967 euros) (Writing by Julia Fioretti and Ines Kagubare; editing by Susan Thomas) || How the Tech Behind Bitcoin Could Revolutionize Wall Street: From its mysterious origin story to its ties to black market dealings , Bitcoin has been closely watched since its emergence in 2009. But the digital currency hasnt captured attention for controversial reasons alone. Many believe the underlying technology that powers bitcoin transactions, a system known as blockchain, has the potential to upend how Wall Street does business. At its most basic level, a blockchain is a new means of structuring and distributing data. It allows financial companies and other institutions to create a digital ledger guarded by cryptography that can be shared among participants in a transaction. This makes it so that authorized participants can alter the ledger without awaiting approval from a central authority, often resulting in faster and more secure transactions that can save financial institutions time and money. Bitcoin itself is in the throes of a tumultuous year, as the community is divided by deep philosophical differences. But some observers say blockchain will thrive regardless of bitcoins fate. More than 100 executives from major Wall Street firms like Citigroup , Visa , and Fidelity recently gathered at Nasdaqs New York offices to experiment with blockchain. The event was hosted by Chain , a startup that specializes in developing blockchain systems for assets like corporate securities and loyalty points. TIME recently spoke with Chain CEO and co-founder Adam Ludwin to learn more about blockchain and the potential it holds for Wall Street and beyond. Below is a transcript of our conversation. It has been edited for length and clarity. TIME: The blockchain system was discovered and popularized through bitcoin. How will Wall Street use blockchain technology differently than the bitcoin system does? Ludwin: This whole idea for a blockchain was invented to solve this double spending problem that had been challenging computer scientists for a long time. And in the bitcoin whitepaper , all of these concepts were put together in a very elegant way that launched a new Internet-based network that was open and decentralized. Story continues The problem is, we have to adopt a new currency with bitcoin should we want to use it. So I can send bitcoin to Vietnam and thats wonderful and very powerful, however that means I have to get bitcoin and my receiver needs to be willing to accept it. And then beyond that, the senders and receivers have to be willing to essentially adopt the governance, scalability, and transparency features of bitcoin. And by the way, I dont think bitcoin is a failure. I think bitcoin, despite all the controversy, is alive and well today. The reason that were doing something else is that were not interested in moving bitcoin. Bitcoin has already solved that. Were interested in building new networks that move dollars, stocks, bonds, loyalty points, gift cards, you name it, in the same manner with the same speed and directness that bitcoin moves. There has been a lot of buzz about how blockchain technology could make financial transactions faster, cheaper, and more secure. Can you go into more detail about how exactly it will do that, and where well see the most impact? [One example] is in the realm of international payments. If you look at how an international wire transfer today occurs, what we have is a messaging system called SWIFT, which is essentially a fancy financial email between banks. So messages get sent, and those messages trigger the movement of money from bank to to bank on several hops, depending on where the receiver is and where the sender is. And that whole process can take several days and can eat up several percentage points of the payment amount. If we can put currency into a native digital format, instead of sending an electronic message, we can send the assets themselves electronically. The difference is what these cryptographic databases known as blockchains bring to the world. If we can do that, if we can send the assets themselves as opposed to just sending messages, then I can pay a supplier in Vietnam as fast as I can send an email to Vietnam. The second example is in the capital markets. In the United States, on one hand we have high frequency trading, but once those trades are filled, we have extremely low frequency clearing and settlement systems. In other words, we can match an order in nanoseconds, but it still takes three days for the securities and cash to eventually swap between the counter-parties. Just like in the international payments arena, we have a messaging system for sending trade information between institutions, and then we have a separate system for how we hold on to and move the assets themselves. And the difference between those messages and the actual asset movement are all of the steps, like authorization, clearing, settlement, error handling and so on, which are essentially the agreement of the middle and back office of Wall Street. When people say blockchain technology will change clearing and settlement, what that really means is that blockchain technology will make clearing and settlement redundant. Its as if I gave you a 10 dollar bill, and then asked you how do we clear and settle that payment. You would look at me funny, because it doesnt make sense. Theres also been some talk about how blockchain systems could be applied to other industries. A note from Goldman Sachs , for example, outlined how blockchain databases could be used to manage the identities of Airbnb hosts. What are your thoughts on that? We view a blockchain functionally as a next generation database for financial assets. We think for most non-financial use cases, traditional database technology is suitable. And the reason for that comes down to what the fundamental purpose of using a blockchain architecture is. The purpose is: when you need to stretch your database over an entire market, so that when you move your assets from point A to point B, it does not leave a copy at point A. In other words, where we can make a recorded electronic asset function like cash, where I just hand you cash and were done. But take, for example, a use case that gets thrown around a lot, which is health records. If I send my health records to my doctor, I also want a copy of my health records. Or if my general practitioner sends a copy of my health records to a specialist, do I want them to disappear from the general practitioners office? No, I dont. Wall Street is starting to experiment with blockchain technology. What are the biggest challenges these firms are facing so far with blockchain adoption, and do you think our financial system will ever run entirely on digital assets alone? Were definitely moving toward this model. Theres no doubt in my mind, based on the projects were working on and what were seeing. The main challenge right now is that institutions by and large are still asking the wrong questions with respect to blockchain technology. Theyre asking, how can we use blockchain to streamline our middle and back office? How can we use blockchain technology to make our operation more efficient? The question you need to ask as an executive is, what role do we want to play in that new network model? This is not just about change within one organization, but is about change across the market, and whos going to be leading that charge. Think about the music industry. If I say music industry, what pops into your head is probably companies like Apple and Spotify, and probably not record labels or live music. And even though at every stage its just music, as the medium has changed, the fundamental nature of that music distribution has changed. The winners and losers who bring that music to the masses have also changed. It will take time, but it will be faster than people realize. || FOREX-Dollar struggles near 6-week lows, no Fed hike seen soon: * Unconvincing data dims US rate hike prospects, hurts dollar
* Dollar/yen seen heading towards break of 100 yen threshold
* Bitcoin slides after Hong Kong exchange hack
By Jemima Kelly
LONDON, Aug 3 (Reuters) - The dollar inched up but stayed close to six-week lows against a basket of currencies on Wednesday, kept under pressure by the view that the U.S. Federal Reserve will raise interest rates later rather than sooner.
The greenback had been on its best run of weekly gains in 1-1/2 years until last week, when expectations that the Fed would clearly signal a near-term rate hike were disappointed, and U.S. growth data came in much weaker than expected.
The dollar index inched up 0.2 percent on Wednesday but at 95.284 remained close to Tuesday's low of 95.003 and was down 2 percent compared with a week ago, before the Fed's policy statement.
In London, UBS Wealth Management currency strategist Geoffrey Yu said the dollar had been boosted by a risk-off mood in U.S. trading on Tuesday, when indexes suffered their worst day in a month on lower oil prices and lacklustre inflation data. But he said any gains on risk-aversion would be capped.
"We're caught in this kind of trap where every time we get nervous about something, the dollar rallies, but then the next thing to think about is: is the Fed going to react to that by pushing out their rate views?" Yu said. "And then you can't afford to be long dollars that aggressively any more. So that's why we have these turns, quite rapidly."
The dollar was up 0.2 percent at 101.08 yen. It slid 1.5 percent the previous day when it fell to a three-week trough of 100.680, amid some disappointment that a meeting between Japanese Finance Minister Taro Aso and Bank of Japan Governor Haruhiko Kuroda did not result in steps to weaken the yen.
Junichi Ishikawa, currency analyst at IG Securities in Tokyo, said it was a matter of time before the dollar breaks below 100 yen. The dollar briefly slipped below the watershed level in the stormy markets that followed Britain's vote to leave the European Union in June, but it has managed to stay above ever since.
"The break below 100 yen after Brexit was an irregular move. But this time, the yen is gaining steadily on fundamental factors like Japan's improving current account balance and the fading impact of BOJ's multi-dimensional easing," Ishikawa said.
The Japanese central bank eased monetary policy on Friday by upping the amount of its exchange-traded fund purchases, but underwhelmed the markets by holding off from increasing the amount of government bonds its buys every month.
Bitcoin was down around 10 percent compared with 12 hours previously at $543 by 0735 GMT, after a Hong Kong digital currency exchange said it had suspended trading on its exchange after almost 120,000 bitcoin - worth almost $65 million at the current rate - was stolen.
For Reuters new Live Markets blog on European and UK stock markets see reuters://realtime/verb=Open/url=http://emea1.apps.cp.extranet.thomsonreuters.biz/cms/?pageId=livemarkets(Additional reporting by Shinichi Saoshiro in Tokyo) || Ericsson to Provide World-Class Managed Services for Flow Mobile Networks in Caribbean: MIAMI, FL--(Marketwired - Jul 12, 2016) -
• Three-year contract for managed services of the Flow mobile network in the North Caribbean region
• Covers field services and a cutting-edge Network Operations Center (NOC) to monitor traffic in twelve markets
Ericsson (NASDAQ:ERIC) will extend its long-term relationship withC&W Communications, which operates the retail brand Flow, and its new owner,Liberty Global(LiLAC Group), to provide world-class managed services, including operating and managing the Flow mobile network and field services and monitoring the network management for Flow in the Northern Caribbean region.
C&W and Liberty Global's strategic partnership extension with Ericsson further strengthens their commitment in improving the quality and reliability of its services and strong network performance to customers. The three-year contract will include top-of-the-line field services (including corrective and preventive maintenance of the mobile core and radio equipment) and a Network Operations Center (NOC) to monitor and maintain the mobile network for Flow in the Anguilla, Antigua, Barbados, British Virgin Islands, Cayman Islands, Dominica, Grenada, Jamaica, St. Kitts & Nevis, St. Lucia, St. Vincent and Turks & Caicos markets. With these enhancements, Ericsson will help Flow deliver a best-in-class level of performance, such as higher network availability and reduced outages. As a result, customers will see improvements in data and voice quality and overall mobile experience, aimed at helping Flow further improve their Net Promoter Score (NPS); a measure which gauges a customer's overall satisfaction with service as well as brand loyalty.
"This partnership with Ericsson is part of C&W's strategy to continually invest in our network, improve the quality of service and innovate technology for our customers throughout the region," said Carlo Alloni, Executive Vice-president and CTIO, C&W. "With this long-term business relationship with Ericsson, they will bring best practice processes, tools and methods to significantly improve our customers' experience throughout our mobile network."
"Continuing to provide managed services for Flow's mobile network builds on our regional leadership, supporting our customers so that they can capitalize on innovation to increase their operational efficiencies and explore new go-to-market models. Ericsson will maintain the network at a superior quality so that subscribers enjoy the best experience available," said Robert Pajos, Head of Network Services, Ericsson Latin America & Caribbean.
Ericsson is the global leader in telecommunications managed services, managing networks for multiple operators worldwide via a combination of global and local network operations centers. Ericsson employs 66,000 services professionals in 180 countries, and provides managed services for networks that serve more than 1 billion subscribers. In addition, Ericsson is present today in all high-traffic LTE markets including US, Japan, and South Korea, and is ranked first for handling the most global LTE traffic. Forty percent of the world's mobile traffic is carried over Ericsson networks.
NOTES TO EDITORS
Cable & Wireless and Ericsson deliver world-class mobile broadband for Caribbean & Latin AmericaEricsson's Managed Services PortfolioManaged Services press backgrounder
For media kits, backgrounders and high-resolution photos, please visitwww.ericsson.com/press.
About EricssonEricsson is the driving force behind the Networked Society -- a world leader in communications technology and services. Our long-term relationships with every major telecom operator in the world allow people, businesses and societies to fulfill their potential and create a more sustainable future.
Our services, software and infrastructure -- especially in mobility, broadband and the cloud -- are enabling the telecom industry and other sectors to do better business, increase efficiency, improve the user experience and capture new opportunities.
With approximately 115,000 professionals and customers in 180 countries, we combine global scale with technology and services leadership. We support networks that connect more than 2.5 billion subscribers. Forty percent of the world's mobile traffic is carried over Ericsson networks. And our investments in research and development ensure that our solutions -- and our customers -- stay in front.
Founded in 1876, Ericsson has its headquarters in Stockholm, Sweden. Net sales in 2015 were SEK 246.9 billion (USD 29.4 billion). Ericsson is listed on NASDAQ OMX stock exchange in Stockholm and the NASDAQ in New York.
Ericsson has been present in Latin America since 1896, when the company established an agreement in Colombia and delivered equipment for the first time in the region. In the early 1900s, Ericsson increased its presence in Latin America by signing commercial deals in Argentina, Brazil and Mexico. Today, Ericsson is present in 56 countries within South America, Central America, Mexico and the Caribbean, which combined count the region as one of the few with complete Ericsson installations, including a Production Unit, R&D Center and Training Center. Ericsson is the market leading telecom supplier, with over 40% market share in Latin America and more than 100 telecom service contracts in the region.
www.ericsson.com/jmwww.ericsson.com/jm/newswww.twitter.com/EricssonCaribwww.facebook.com/EricssonLatinAmericawww.youtube.com/EricssonLatamwww.slideshare.net/EricssonLatinAmerica
FOR FURTHER INFORMATION, PLEASE CONTACTWendi Patrick, External CommunicationsPhone: +506 2519 0800E-mail:[email protected]
About C&W CommunicationsCWC is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, CWC provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers.
CWC also operates a state-of-the-art submarine fiber network -- the most extensive in the region -- in over 30 markets.
Learn more atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter.
About Liberty 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 million1television, 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 visitwww.libertyglobal.com.
Footnote1: 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. || This Is The Hacker Taking The Fight To ISIS: A hacker by the name ofWauchulaGhostis doing his/her part in battling the terrorist group ISIS where it has a dominant presence: online.
Terrorist groups like ISIS are notorious for maintaining a strong social media presence to spread their propaganda and recruit new members. Over the past month, WauchulaGhost has hacked over 250 accounts onTwitter Inc(NYSE:TWTR) that have been linked with ISIS members.
Related Link:Orlando Shooting: How Past Acts Of Terror Affected Stock Markets
The hacker replaces ISIS' terrorist ideology and content with pornography and gay pride messages — an act that is even more meaningful following the terrorist attack in Orlando, Florida, in which a gunman pledged allegiance to ISIS and massacred 49 people at a gay club.
Once an account is hacked, ISIS' black flags are replaced with rainbows and gay couples embracing. The hacker has a network of people across the world willing to help him however possible, including translating conversations to and from Arabic.
"There was a few of us... that discovered a vulnerability," the hacker told CNNMoney. "We thought, 'Hey let's go start taking their accounts ... and [start] humiliating them.'"
The hacker also criticized social media companies, including Twitter, for not doing enough to shut down the accounts linked to Terrorist groups. For its part, Twitter told CNN Money it has suspended over 125,000 accounts related to ISIS sine the middle of 2015.
"Sometimes you have to stand up for what you believe in," he told CNNMoney. "If you want change, you have to make that change, even if it means doing something illegal."
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• Bitcoin Is Up 30% This Week And 200% This Year: Here Is What You Need To Know
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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 ofSteemit, 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 itNo. 3 among all cryptocurrencies, according to CoinMarketCap, behind only bitcoin andether, the currency of the Ethereum network.
“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 Tahitiearned 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.”
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 arethe usual fears about Ponzi schemesor 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.
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Here’s why 21 Inc. is the most exciting bitcoin company right now || Bitcoin plunges nearly 25% in 6 days: Here’s 3 reasons why: The price of bitcoin(: BTC=)has plunged almost 25 percent since hitting a two-and-a-half year high last week amid problems at a key exchange and diminishing fears of a Brexit.
Bitcoin was trading around $590.53 by midday London time, a fall of around 23.8 percent from the $774.94 close on June 17, which marked the highest close since November 22, 2013.
The initial rise in the price of the cryptocurrency came last week as traders prepared for aprocess known as "halving"– where the rewards offered to bitcoin miners fall, thus tightening the supply of the digital currency. With anticipation of less supply, prices spiked.
But sentiment was dampened when earlier this week, Hong Kong-based bitcoin exchange Bitfinex was closed for a few hours because of "networking issues" in the company's data center, it said on Twitter. The issues were fixed on the same day.
Bitcoin insiders said that because of the high leverage people trade the digital currency with, small issues in the market can cause big moves.
"The bitcoin price when it goes up is always fuelled by a high leverage, people using margin borrowing money to buy up the price anticipating the block rewarded halving, so the smallest hairline crack can cause a selloff," Bobby Lee, chief executive of BTCC, one of the largest bitcoin exchanges in the world based in China, told CNBC by phone on Thursday.
"Bitfinex's website went down and that was a catalyst for people pulling back, cutting positions, locking in gains. There is waterfall effect where then people are selling, selling, selling."
At the same time, bitcoin has received some safe-haven bids in recent weeks thanks to uncertainty about which way Britons would vote in the country's referendum on its membership of the European Union (EU), which began on Thursday morning.
But opinion polls leading up to the referendum showed a slight bias towards the remain camp winning, helping push financial markets and the sterling higher, but causing a fall in the price of bitcoin.
"I do think it's primarily macro things such as Brexit, you saw the price run up as you saw the opinion polls show leave was winning and as those polls reversed over the weekend, that's when we saw the price reverse" Tom Robinson, co-founder of blockchain start-up Elliptic, told CNBC by phone.
Conversely, the threat of a Brexit had an adverse effect on the Chinese yuan, which hit a five-year low last week, was also a reason cited by experts, given China accounts for the large amount of bitcoin trading.
"Brexit could be a major factor, but, since the lion's share of bitcoin trading activity occurs in and around China, it's unlikely that this is the primary cause. Although if you look at the bitcoin price among exchanges based in China they are $10-20 lower than the global exchanges, this might reflect the yuan's 5-year low and the expected yuan volatility as a result of Brexit," Aurélien Menant, CEO and co-founder, Gatecoin, a digital currency exchange, wrote in an email to CNBC.
Menant added that he expects the volatility "to settle down within the next couple of weeks".
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• Personal Finance || Winklevoss Twins Approach BATS Global Markets To List Bitcoin ETF: Cameron and Tyler Winklevoss are notable Bitcoin investors and run a family office called Winklevoss Capital Management, which invests in various asset classes. The twin brothers also own approximately 1 percent of all bitcoins in circulation through their family office.
According to aregularity filing,the brothers now want to oversee the creation of a bitcoin exchange-traded fund (ETF) on the BATS Global Markets stock market. Initially, an ETF was proposed to trade on the Nasdaq exchange.
The BATS exchange oversaw close to 25 percent of all ETF activities in May.
It's Been In The Works
The brothers proposed creating an ETF three years ago that tracks the performance of the digital currency, but are still waiting for approval by the Securities and Exchange Commission. If successful, the proposed ETF would be the first SEC-regulated and approved bitcoin investment vehicle.
The Winklevoss brothers will use another bitcoin-related property under its management, the Gemini Trust Co., as the ETF's custodian. Gemini received a trust charter from the New York State Department of Financial Services last October, and it will hold the actual bitcoins in trust.
Related Link:Self-Proclaimed Inventor Of Bitcoin Reportedly Seeks Hundreds Of Patents On Blockchain Technology
An ETF would trade under the ticker "COIN."
The Wall Street Journal quoted BATS' head of exchange-traded products Laura Morrison as saying, "We are excited to add the Winklevoss Bitcoin Trust."
The Washington Post reported in 2013 that the brothers began buying bitcoins when the dollar value of a single coin was in the single digits. As of Thursday morning, the value of a single bitcoin according to CoinDesk was $668.24.
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© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
New post: "In times like these, recall the wise words of economic "experts" (Paul Krugman, etc.) ..."http://ift.tt/28TWDbb || $ 0.006803 (3.63 %) 0.00001148 BTC (0.00 %) #WHIPPED #FETISH #BDSM || 19 hours 59 minutes left in Bid period - Price $BCR Bittrex 0.00000231 BTC #fintech #Bitcredit 2016-06-16 00:00 pic.twitter.com/uz1hAWHibB || 1 KOBO = 0.00001398 BTC
= 0.0095 USD
= 2.6802 NGN
= 0.1378 ZAR
= 0.9593 KES
#Kobocoin 2016-07-04 15:00 pic.twitter.com/x6Ydt1JNYJ || #ChainCoin #CHC $ 0.000155 (-1.78 %) 0.00000024 BTC (-0.00 %) || $627.61 at 04:30 UTC [24h Range: $578.85 - $632.00 Volume: 5999 BTC] || #EuropeCoin #ERC $ 0.004699 (-0.32 %) 0.00000702 BTC (0.00 %) || 1 KOBO = 0.00001398 BTC
= 0.0094 USD
= 2.6520 NGN
= 0.1369 ZAR
= 0.9492 KES
#Kobocoin 2016-07-04 06:00 pic.twitter.com/r2YwIelmiL || 1 $MOIN Price: C-Cex 0.00000121 #BTC
#MOIN #MoneyEvolved 2016-06-18 06:00
https://c-cex.com/?p=moin-btc pic.twitter.com/a7CGxL4r1V || 1 KOBO = 0.00000788 BTC
= 0.0049 USD
= 1.5643 NGN
= 0.0681 ZAR
= 0.4963 KES
#Kobocoin 2016-08-01 07:00 pic.twitter.com/7N93tASjsU
|
Trend: down || Prices: 587.80, 592.10, 589.12, 587.56, 585.59, 570.47, 567.24, 577.44, 573.22, 574.32
|
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]
Not fully available.
[Random Sample of News (last 60 days)]
Macro investor Paul Tudor Jones makes the case for owning bitcoin as a hedge against central bank money printing: Macro investor and hedge fund manager Paul Tudor Jones issued a strong case for buying bitcoin and indicated that his Tudor BVI fund will trade bitcoin futures. The founder and chief investment officer of Tudor Investment Corp. says he sees the crypto asset as a hedge against upcoming inflation as a result of central bank money printing, according to Bloomberg . "The best profit maximizing strategy is to own the fastest horse," Jones said in an investor letter, titled The Great Monetary Inflation, which was reviewed by The Block. Bloomberg first reported Thursday that the noted investor is buying bitcoin, though the letter contains a more nuanced take without offering a clear sense that he is purchasing actual coin. "If I am forced to forecast, my bet is it will be bitcoin," he added. Indeed, Jones said that such money-printing will move many different assets. And it will push traditional investors to gold, but he said the world "craves new safe assets," which might be a boon for bitcoin. As Jones put it: "Quite often, how the markets respond will be at odds with your priors. But remember, the P&L always wins in the long run. With that in mind, in a world that craves new safe assets, there may be a growing role for Bitcoin." The letter also provides additional clarity on the exact nature of Tudor's plans, which stated: "I am not an advocate of Bitcoin ownership in isolation, but do recognize its potential in a period when we have the most unorthodox economic policies in modern history. So, we need to adapt our investment strategy. We have updated the Tudor BVI offering memoranda to disclose that we may trade Bitcoin futures for Tudor BVI. We have set the initial maximum exposure guideline for purchasing Bitcoin futures to a low single digit exposure percentage of Tudor BVI’s net assets, which seems prudent. We will review this exposure guideline regularly." Bullish take Part of Jones' attraction to bitcoin is its fixed supply, which is capped at 21 million. Story continues "I also made the case for owning Bitcoin, the quintessence of scarcity premium," Jones wrote. "It is literally the only large tradeable asset in the world that has a known fixed maximum supply. By its design, the total quantity of Bitcoins (including those not yet mined) cannot exceed 21 million." According to the letter, Jones views bitcoin as being in a similar position to gold during the 1970s, a period when inflation gripped U.S. markets . "Bitcoin reminds me of gold when I first got in the business in 1976," he wrote. "Gold had just been productized as a futures instrument (like Bitcoin recently) and had enjoyed a heck of a bull market, almost tripling in price. It then corrected almost 50% in nearly two years similar to Bitcoin’s 28-month 80% correction! You can see the similarities in the two charts below." As he noted elsewhere in the letter: "But the GMI caused me to revisit Bitcoin as an investable asset for the first time in two and a half years. It falls into the category of a store of value and it has the added bonus of being semi- transactional in nature. The average Bitcoin transaction takes around 60 minutes to complete which makes it “near money.” It must compete with other stores of value such as financial assets, gold and fiat currency, and less liquid ones such as art, precious stones and land. The question facing every investor is, “What will be the winner in ten years’ time?”" Source: Paul Jones & Lorenzo Giorgianni Jones' comments come amid a period of heightened activity by the world's central banks, most notably the Fed, as they attempt to use monetary policy to beat back the effects of the coronavirus pandemic and government-mandated economic shutdowns. Other macro investors, including Raoul Pal, have predicted further instability in light of these recent actions. What's more, the price of bitcoin has been on the rise since mid-March lows, and at time of writing has jumped above $9,800. The announcement from the Tudor Investment Corp. founder comes just days before bitcoin is set to undergo its third-ever block reward halving , which will see the network's per-block coin issuance fall from 12.5 BTC and 6.25 BTC. Other investors, including those in the crypto space like Pantera's Dan Morehead, have (perhaps unsurprisingly) predicted that sluggish economic conditions will be a boon for bitcoin. This post and its headline have been updated to include more information from the letter, titled The Great Monetary Inflation. © 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. || No Visits, No Parole: Ross Ulbricht Is More Alone Than Ever During COVID-19: The coronavirus infection spreading across the United States prison system is throwing Ross Ulbricht’s confinement into sharp relief.
Found guilty of seven charges including money laundering, conspiracy to traffic narcotics and computer hacking, the controversial founder of the Silk Road is currently serving a double life sentence plus 40 years, without the possibility of parole.
As the pandemic worsens conditions for the nation’s large prison population, Ross spends 22 hours a day behind bars in Tucson, Ariz., where he’s currently being held. Outside visits are stopped so Ross’s mother, Lyn, and other loved ones, who work tirelessly for his release, are unable to act as “Ross’ lifeline to the outside world.” And Ross stands a good chance of being infected, with rates in his part of the system running four times the New York average.
Related:World Economic Forum Shares Roadmap for Deploying Blockchains in Real World
Because of the nature of his crime, Ross is not allowed access to a computer or the internet, not even to check his email. So he spends his time writing, reading and meditating, his mother said, and calling home.
See also:Silk Road Operator Pleads Guilty to 1 Charge of Conspiracy
“Even though Ross is a grown man, I’m still a mom and can’t help reminding him to drink lots of water, wash his hands and take vitamin C when he calls,” Lyn Ulbricht said. “He assures me he’s doing all that and I don’t need to worry, but it’s hard under these circumstances. Prisons are probably the most at-risk places for contracting the virus.”
The Silk Road holds a storied position in Bitcoin’s history. Named after the ancient trade routes that connected East to West, the online emporium became the currency’s first proven link to the world of internet commerce (it even introduced some well-known crypto folk tobitcoin). Anonymized shoppers could buy anything, as long as itdidn’t harma third party, from fake IDs to opioids, or any narcotic, as well as spyware, art and books. For Ulbricht, the innovation wasn’t what was sold, but how: voluntary exchange.
Related:US Authorities Freeze COVID-19 Website Alleged Scammer Tried to Sell for Bitcoin
“What we’re doing isn’t about scoring drugs or ‘sticking it to the man.’ It’s about standing up for our rights as human beings and refusing to submit when we’ve done no wrong,” the Silk Road founder, then operating under the pseudonym Dread Pirate Roberts, said in an interview with Forbes.
Despite his alleged crimes, Ulbricht has become a folk hero in libertarian and crypto circles. “Ross is an amazing entrepreneur who helped make the world a better place,” Roger Ver, founder of Bitcoin.com, said in a direct message. Ver is among thousands of supporters who have fomented a movement seeking to liberate Ulbricht (with the hashtag #freeross).
And the coronavirus crisis could accelerate this process. “It certainly doesn’t seem like it can hurt his cause,” Ver said.
Close, unsanitary quarters are hotbeds for viral infection. Worse, throughout the pandemic prisoners have had limited access to protective or hygienic products and, sometimes, lack basic medical care. These conditions have activists, politicians and even Attorney General William Barr calling for thetemporary releaseof at-risk populations. Others are pushing harder for the amnesty of all non-violent offenders.
The call for criminal justice reform amid a global pandemic echoes the issues the Free Ross campaign has been championing for years.
Begging the system that put him in prison to now take him out seems like an uphill battle
“There’s been a lot more attention brought to the subject [of prison reform],” said Lyn Ulbricht. “There are many people serving horrific sentences in our country now for nonviolent crimes. It shouldn’t be like that. We’re the biggest incarcerator in the world. That’s a national disgrace.”
Lyn Ulbricht is theorganizing forcebehind the loosely coordinated campaign seeking her son’s release. In 2013, when the 29-year-old Ulbricht was arrested, she created the FreeRoss.org website to raise awareness and funds for his bail, which was ultimately rebuked.
In 2015, ahead of and during the 11-week federal trial held at the Southern District of New York, Lyn spoke frequently at conferences, to media and online arguing Ross’ case had wide implications for the future of internet commerce, First and Fourth amendment rights and criminal justice.
See also:Silk Road Seller Pleads Guilty to Money Laundering $19 Million With Bitcoin
Then, in 2017, after the U.S. Court of Appeals for the Second Circuit upheld Ross’ conviction and sentence – essentially eliminating any chance of legal recourse – she began seeking clemency through political means. This effort has culminated in a petition directed at President Trump, asking him issue Ulbricht a commutation. The most recent petition has received over280,00 signatures.
Many who agitate on Ross’ behalf see his case as representative of the totality of crimes committed through mass incarceration and the prison industrial complex.
“We should support anyone who is being persecuted for victimless crimes,” Roger Ver said. “The police, prosecutors and judges are the ones who are the criminal aggressors in this case, and the world should speak out against them just like we now speak out against the runaway slave catchers of the past.”
While Ver had donated hundreds of thousands of dollars to the “Freedom Fund” – “He made it possible for us to go to trial,” Lyn said – he remains pessimistic about the political process. “Begging the system that put him in prison to now take him out seems like an uphill battle,” he said. This is something Lyn Ulbricht reluctantly admits.
Despite her efforts to reach the Trump administration, his family and evenKim Kardashian– who successfully lobbied the president to release a 63-year-old woman serving a life sentence for a nonviolent drug conviction – she has had little success.
“It’s difficult to coordinate efforts. I’ve tried to reach out but it’s not easy to get to them,” she said. While she thinks Trump has shown an inclination to reform the justice system with theFirst Step Act, “it’s a matter of convincing President Trump this is something that is worthy of his attention and mercy.”
That doesn’t mean she lacks hope. Trump makes instinctual decisions, she said, adding, “Anyone who looks at the sentence can see it’s wrong.” Ulbricht was a first-time offender, convicted on non-violent charges in a trial that shows some signs of malpractice. The charges listed in Ross’ original indictment would’ve, at minimum, landed him a 30-year prison sentence.
A more lenient sentence would be in line with what busted merchants on the Silk Road have been handed. Not to mention the former U.S. Secret Service agent who skimmed bitcoin from the site while participating in federal investigation to uncover its founder. Instead, Ulbricht received a punishment Lyn argues is unconstitutional.
“The Eighth Amendment says no cruel or unusual punishment and this is very unusual for a first time nonviolent offender, and it’s certainly cruel,” she said. While the conviction has opened her mind to the possible injustices of the law, it’s something all her hopes are tied to.
“[Trump] can sign a piece of paper and Ross would walk out the door,” she said.
Seven years ago, Ulbricht found himself behind bars at New York’s Metropolitan Detention Center while awaiting trial. Today, this municipal prison system has an infection rate of more than 9 percent, according to the Legal Aid Society. This is compared to the 2 percent infection rate on the city’s streets.
Prisoners across the country report they are unable to practice social distancing or even properly wash their hands. Found wanting before the outbreak, prison medical care is reportedly incapable of managing a prison outbreak. In a memo to the Bureau of Prisons, Attorney General Barr confirmed the virus is “materially affecting operations, and called for the release of vulnerable and at-risk inmates to home confinement.
Still, there is no consistent national approach to manage the virus in prisons, nor federal guidelines to determine which inmates may be eligible for temporary release. And that guidance may not come soon, with Trump decrying the proactive release of elderly and infirm prisoners he called “very serious criminals” during a White House Coronavirus Task Force briefing earlier this month.
‘Even though Ross is a grown man, I’m still a mom and can’t help reminding him to drink lots of water, wash his hands and take vitamin C when he calls.’
It’s in this landscape that reformist policies begin to make sense. A 2016reportshowed nearly 40 percent of people in state and federal prisons were incarcerated without provably presenting a danger to their communities. That means these sentences are “strictly punitive, not correctional,” Lyn Ulbricht said.
During Ross’ bail hearing, prosecutors said he operated “the most sophisticated and extensive criminal marketplace on the internet today.” And while the prosecution accused him of hiring hitmen, Ulbricht is, technically, a non-violent offender. A number of eminent scholars, lawyers and celebrities have weighed in, calling the sentence “a shocking miscarriage of justice,” to useNoam Chomsky’s words.
See also:Marco Santori – Silk Road Goes Dark: Bitcoin Survives Its Biggest Market’s Demise (2017)
Still young at 36, healthy and without any underlying conditions, it’s unlikely Ulbricht will be released to home confinement during the pandemic. Instead, he, like the majority of the2.3 million peopleincarcerated in federal, state and local prisons, jails and other correctional facilities across the country, will spend 22 hours a day “in his cage with his cellmate” as a precautionary measure, Lyn said.
Lyn has moved three times since 2013 to be closer to Ross in Arizona so she can make weekly visits. These visits are also on hold for the foreseeable future, and it’s unclear when these restrictions will be lifted. The federal Bureau of Prisons has not responded to a request for comment.
“He can be under house arrest with an ankle brace on,” Lyn said. “He’s not a dangerous person.”
• COVID-19 Tracing Apps Have to Go Viral to Work. That’s a Big Ask
• Road to Consensus: Harry Halpin Talks Holistic Privacy, Mixnets and COVID-19 (of Course) || Bitcoin Cash Undergoes ‘Halving’ Event, Casting Shadow on Miner Profitability: Bitcoin Cash – the blockchain that forked off Bitcoin in 2017 – has just reduced its block rewards by half, causing many miners to see gross margins drop to near zero.
The world’sfifth-largest cryptocurrency networkby market capitalization reachedblock height 630,000at roughly 12:20 UTC on Wednesday – by design triggering the so-called “halving” event that reduced the network’s mining reward from 12.5bitcoin cash(BCH) per block to 6.25.
That means miners competing for block rewards on the network will see their immediate mining revenue reduced by half, resulting in no or slight returns despite investments in costly mining equipment.
Related:Bitcoin Miner Maker Canaan Lost $148 Million in 2019
The mining difficulty and hash rate on bitcoin cash – a measure of how much miner power is participating on the network – has recently been on a downward trend in the run up to the halving, dropping from around five exahashes per second (EH/s) in mid-February to 3.3 EH/s currently.
See also:Bitcoin Halving, Explained
The trend is in line with the price decline of BCH, which dropped from $492 around mid-February to as low as $165 in mid-March – though it’s since bounced back over $250. At press time, BCH is changing hands at $268, according to CoinDesk’sprice index, a 2.7 percent jump over the last 24 hours.
Based ondatafrom F2Pool, at BCH’s current price and the network’s latest hash rate, a wide range of the mining equipment that was launched in 2018 and early 2019 are now generating negative daily profits, if assuming an average electricity cost of $0.05 per kilowatt-hour (kWh).
Related:Top Cryptos Edge Up as Derivatives Data Suggests Newfound Risk Aversion Among Traders
Even some of the most recent models that hit the market late last year and in early 2020 are seeing gross margin drop to around 10 percent. Only those most powerful models like MicroBT’s WhatsMiner M30S or Bitmain’s AntMiner S19 or S17 Pro would be able generate a margin above 30 percent, but the manufacturers have not yet been able to deliver these models to the market in large numbers.
See also:Manufacturers Mark Down Bitcoin Miners as Price Drop, Halving Change Calculus
That said, as more unprofitable miners unplug from the Bitcoin Cash network as is expected, mining difficulty will further decrease, dynamically increasing the mining revenue for those who can afford to stick to the game.
Furthermore, specialized mining devices (commonly known as ASIC miners) based on the SHA-256 algorithm – which is adopted by Bitcoin, Bitcoin Cash and Bitcoin SV – are able to switch between different networks that use the same algorithm.
The Bitcoin Cash event foreshadows the halving scheduled for the Bitcoin network in about 35 days. Bitcoin is 26 times larger than BCH in terms of market capitalization.
The 14-day rolling computing power connected to the Bitcoin network is currently at105 EH/s, which has seen a 5 percent uptick after having decreased by nearly 16 percent late last month.
Meanwhile, Bitcoin SV, the network that forked off the Bitcoin Cash blockchain in late 2018, is also scheduled to go through a block reward reduction in about a day. The price ofBSVhas jumped by 9 percent to $209 over the past 24 hours ahead of the scheduled event.
• Today’s ‘Halving’ May Be Non-Event for Bitcoin Cash Prices
• Bitcoin Cash Approaches Milestone With First Halving Expected Wednesday || Number of Bitcoins on Crypto Exchanges Hits 18-Month Low: The total number ofbitcoinsheld in cryptocurrency exchanges wallets dropped to an 18-month low just above 2.3 million on Monday, according to data estimates fromGlassnode. The decline marks an 11% year-to-date reduction in the number of bitcoins held by exchanges.
Meanwhile, over the same period, the amount ofetherin exchange wallets increased by more than 7%. Some market participants see this as a sign that more bitcoin investors are increasingly taking direct possession of their cryptocurrency.
“People are accumulating aggressively, and the market participants seem to have a higher time preference these days,” said Avi Felman, head of trading at Stamford, Conn.-based BlockTower Capital. “I think the trend is going to continue.”
Related:Market Wrap: Bullish Traders Push Bitcoin Over $9,100, Returning to Halving Levels
A portion of these active and often ideologically motivated bitcoin accumulators are called “holders of last resort,” a label implying they never intend to sell regardless of market movements.
This type of investor partially contributes to the decline in exchange bitcoin balances by continuing to “accumulate for the long term and self-custody their bitcoins,” said Pierre Rochard, bitcoin strategist at Kraken, the largest U.S.-based cryptocurrency exchange by liquidity according toCryptowatch.
Speaking with CoinDesk, Rochard added that “improvements in fiat rails” also materially contribute to this trend by enabling arbitrage traders to “be more capital efficient and thus hold fewer bitcoin.”
Read more:Crypto Custodian BitGo Joins Race to Provide Prime Brokerage Services
Related:Goldman Sachs: Cryptocurrencies ‘Are Not an Asset Class’
It’s important to note that on-chain data analysis of exchange balances is only an estimate given that some exchange addresses may be overlooked by or unknown to data aggregators. The downward-sloped trend, however, is nonetheless pronounced.
“On-chain data is not perfect and new exchange wallets may be missed,” added Rochard.
Others see bitcoins leaving exchanges for a reason completely unrelated to strong-willed, die-hard investors, however: the rise of prime brokers.
Felman added that currently “there are few alternatives to holding bitcoins on an exchange if you want to trade, but new offerings in the prime brokerage space will lead to greater outflows from exchange-specific wallets.”
On Thursday, for example, trading and lending firm Genesis (like CoinDesk, owned by DCG)acquiredVo1t as part of its strategy to become a full-service prime brokerage. Tagomi, a digital asset prime brokerage, was also recentlyacquiredby Coinbase in the San Francisco-based exchange’s bid to expand its institutional trading service.
Read more:Coinbase Buys Tagomi as ‘Foundation’ of Institutional Trading Arm
Regardless of the reason, a “consistent decline in the supply of bitcoin on exchanges implies a strong level of confidence from the holder base,” said Yan Liberman, former associate at Deutsche Bank and co-founder of digital asset research firm Delphi Digital.
Roughly 60% of the issued bitcoin supply hasn’t moved in over 12 months, added Liberman, and that has been a precursor to previous bullish market cycles.
• Bitcoin Transaction Fees Decline as Network Congestion Eases
• Bitcoin News Roundup for May 27, 2020 || First Mover: Tezos Led Crypto Market With Twice Bitcoin’s Gains in April: Bitcoin? Ether? Ripple? Meh. During a month where cryptocurrencies zoomed, the lesser-known Tezos beat them all.
Tezos (XTZ), one of the largest and most prominent among a fast-growing roster of digital coins known as “staking tokens,” jumped 83% in April, the most among cryptocurrencies with a market value of at least $1 billion, based on data fromMessari.
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:American Buyers Are Fueling Bitcoin’s Rally, Data Suggests
That’s more than double the 37% gain for bitcoin (BTC), the largest cryptocurrency by market value, which benefited from speculation that aninflation hedge will come in handyas the Federal Reserve and other central banks inject trillions of dollars of emergency liquidity into the global financial system.
Ether (ETH) rose 62% alongside a surge in growth for U.S. dollar-linked stablecoins built atop the Ethereum blockchain, and as investor interest grew in the white-hot arena of decentralized finance. Ripple’sXRP, a payments token, rose 30%.
Staking tokens give holders the right to weigh in on a blockchain’s governance — similar to the way shareholders vote for a company’s board of directors — while also giving them the ability to earn a share of newly minted tokens, in the manner of a dividend or bond coupon.
The strong performance of Tezos is “likely in part due to increased investor interest in staking-based returns,” said Joseph Todaro, managing partner atBlocktown Capital, an investment firm specializing in digital currencies.Some cryptocurrency exchanges offer staking as a service to make it easier for investors to participate, and Tezos has benefited recently from new listings on the exchanges Bitfinex and Binance. It’s been on Coinbase, another exchange, since last year.Ethereum, whose native token ether is the second-biggest cryptocurrency after bitcoin, plans to upgrade to a staking model in July. Some analysts say ether has generated additional enthusiasm among speculators due to the transition to staking.
Related:Bitcoin Rises Back to $8.8K Even as US Stock Futures Drop
Tezos has doubled on a year-to-date basis, despite a bout of volatility along with bitcoin, ether and other tokens earlier this year.
One caveat for traders is that Tezos has a market value of just $2.1 billion, less than 1/70th of bitcoin. So Tezos has the potential for big losses alongside any fast gains, even when compared with the notoriously volatile bitcoin; in March, Tezos tumbled 41% as bitcoin slid 24%.
“The price movement of any given crypto asset is partially dependent on current investing narratives,” said Todaro.
BTC: Price: $8,995 (BPI) | 24-Hr High: $8,9958 | 24-Hr Low: $8,415
Trend: Bitcoin is on the rise, having bounced up from its key average support early Friday.
The original cryptocurrency is trading near $8,995 at press time (updated), representing over 4% gains. Prices defended an ascending 50-hour average support during Asian trading hours.
The average has consistently restricted downside and reversed pullbacks in the recent rally that pushed bitcoin from $6,800 to $9,400. As a result, the immediate bias will remain bullish as long as prices are trading above the 50-hour average, which is currently at $8,751.
If the latest bounce from the average support ends up clearing the immediate resistance at $8,913, bitcoin will likely revisit $9,200.
While the hourly chart is reporting bullish conditions, the daily chart studies also show buyer exhaustion. It’s possible there could be a break below the 50-hour average support, which would take bitcoin down to $8,500.
• Tezos Becomes Latest Blockchain to Tap Chainlink for Oracle Services
• Shares in Grayscale’s Bitcoin Trust Up By 14% After Crypto’s Price Rallies || Argo’s Mining Revenue Dips After Bitcoin’s Halving: Bitcoin(BTC) was trading around $9,575 as of 20:00 UTC (4 p.m. ET), gaining less than a percent over the previous 24 hours.
After Tuesday’srapid 8% drop in less than five minuteson high sell volume, bitcoin’s prices have steadied. At 00:00 UTC on Wednesday, the world’s largest cryptocurrency by market capitalization was changing hands around $9,528 on spot exchanges like Coinbase. Ten hours later, it staged a small run-up to $9,650 yet low trading volumes dashed any hopes of a substantial rally. Bitcoin is below its 50-day moving averages, signaling a technical sideways bearish sentiment.
After an exciting start to a week where bitcoin surged quickly then dropped, traders certainly have strong opinions on recent market activity
Read More:Traders ‘Whack the Beehive’ as Bitcoin Surges Then Plunges
Rupert Douglas, head of institutional sales at brokerage Koine, believes that the movement’s intention was to wipe out some traders in the derivatives market. “My take is that this sharp rejection is a shakeout of the weak longs,” said Douglas.
After the cryptocurrency excitement over the past few days, stock markets across the globe are taking center stage, as all major indices are doing well.
Japan’s Nikkei 225 closed its day up 1.6%,led by increased demand in the automotive sector within Asia. The FTSE Eurotop 100 index of the largest stocks by market capitalization ended trading in the green 2.6%as the Eurozone eases lockdowns.
Related:Market Wrap: A Bitcoin Lull as Stocks Signal Economic Optimism
In the United States, the S&P 500 index was 1.3%, up over 2% so far in June on optimismas businesses begin to reopen amid a global pandemic.
“Equities are approaching levels that I think we will see at least a pullback from and I expect that weakness in equities will see strength in bitcoin,” said Koine’s Douglas.
Such a situation would only make bitcoin’s recent performance look even better comparatively. Although not exactly a smooth ride, since the start of May, bitcoin is up over 14%, outperforming all the major stock indices. Only the Nikkei 225 is exceeding 10% in the green during the same time, according to data compiled by CoinDesk Research.
Read More:ECB Stimulus May Offer Hope After Bitcoin Fails (Again) to Break $10K
A quiet day for bitcoin might just be the platform for another price breakout, said Henrik Kugelberg, an over-the-counter cryptocurrency trader based in Sweden.“I have had massive signals of an imminent surge in bitcoin the last couple of days”.
Deal flow seems to be skewed towards traders hitting up desks for more crypto during the bitcoin lull Wednesday, Kugelberg told CoinDesk. “Many are buying, and sellers are much more scarce now,” he said.
Read More:Miners Are Selling More of Their Bitcoin. That May Actually Be Bullish
“My network is split,” said Mostafa Al-Mashita, an executive at digital asset liquidity provider Secure Digital Markets. “Some people are calling for $7,000 bitcoin and others are bullish for $11,000.”
Digital assets on CoinDesk’s big board are in the green Wednesday. The second largest cryptocurrency by market capitalization,ether(ETH), the second largest cryptocurrency by market capitalization, climbed 2% in 24 hours as of 20:00 UTC (4:00 p.m. EDT).
Read More:Hard Fork is Ethereum Classic’s Second Major Departure From Ethereum
Cryptocurrency winners on the day includecardano(ADA) in the green 8%,nem(XEM) climbing 6.7% andiota(IOTA) up 6%. The lone loser Wednesday isbitcoin SV(BSV), down 2%. All price changes were as of 20:00 UTC (4:00 p.m. EDT).
Read More:Numerai Raises $3M in Another NMR Token Sale
In commodities, gold is in the red, with the yellow metal losing 1.5% and closing at $1,697 at the end of New York trading.
Oil is flat on the day, slipping less than a percent as a barrel of crude is priced at $36.74 as of press time.
U.S. Treasury bonds climbed Wednesday. Yields, which move in the opposite direction as price, were up most on the 2-year, in the green 11%.
• Market Wrap: Traders ‘Whack the Beehive’ as Bitcoin Surges Then Plunges
• Bitcoin’s Price Drops by 8% in Less Than 5 Minutes || Reddit cofounder Alexis Ohanian: We are entering a 'crypto spring': Amid the economic uncertainty sparked by coronavirus, bitcoin appears to have new momentum.
The price of the largest cryptocurrency isup 90% since March 16, when widespread U.S. school closures and stay-at-home orders began. The crypto community cheered the arrival of thethird bitcoin halving on May 11, the event every four years in which the reward for mining bitcoin gets slashed in half as a measure to control the creation of new bitcoins. And there’s big attention (including heavy scrutiny from lawmakers) on projects like the Facebook-led Libra Group, in which Coinbase and other big crypto companies, along with tech investment firms, are members.
Alexis Ohanian, the Reddit cofounder and an early investor in Coinbase, believes it all adds up to a new “crypto spring.”
“I try not to track prices, I can’t predict any of that stuff,” Ohanian told Yahoo Finance Live on Friday. “What I can say is we really do see a crypto spring right now in terms of top-tier engineers, product developers, designers, building real solutions on top of the blockchain. And that to me is the most interesting part... We’re seeing really top-tier talent building on the infrastructure.”
Despite saying he doesn’t watch the price closely, Ohanian has not failed to notice, he says, that “We’re kissing up toward $10,000.” So, does bitcoin’s price ride during the pandemic prove out its value as a safe haven investment? Billionaire hedge fund pioneerPaul Tudor Jones thinks so. In a note to clients this month, Jones said he’s investing in bitcoin as a hedge against inflation. “The best profit-maximizing strategy is to own the fastest horse,” Jones wrote. “My bet is it will be bitcoin.”
That was seen as another noteworthy sign of support from a big Wall Street name, though the list of big names in investing that have vociferously shunned bitcoin remains long, including Jamie Dimon,Warren Buffett,Charlie Munger, Mark Cuban, Paul Krugman, and Nouriel Roubini.
“I’ve had a percentage of my wealth in crypto for quite some time now and I still feel pretty good about it, I don’t want to change too much of it,” Ohanian says. “Because I do think it’s a prudent hedge. It’s interesting to see OGs of Wall Street now getting into crypto and buying bitcoin. It’s increasingly showing that it’s here to stay.”
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Daniel Roberts is an editor-at-large at Yahoo Finance and closely covers bitcoin and blockchain. Follow him on Twitter at @readDanwrite.
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Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn,YouTube, andreddit. || Bitcoin Halving Searches on Google Hits All-Time Highs: Searches for “bitcoin halving” on Google Trends recently reached record highs, suggesting peak interest in the retail crowd about the upcoming supply altering event. Queries about the highly anticipated event peaked in the week ending April 11, the highest in bitcoin’s (BTC) 11-year history. It moved down 18 percent as of press time but remains at elevated levels. It remains double what it was for the week ending March 21. Google Trends scale their searches on a range of 0 to 100 “based on a topic’s to all searches on a topic,” according to the company . Related: First Mover: Bitcoin Attracting More Buyers, Even With Market Stuck in ‘Extreme Fear’ The sharp rise is indicative of an “increase in retail interest,” according to Mike Alfred, CEO of fintech and data company Digital Assets Data. Bitcoin goes through a process called halving every four years . The inbuilt mechanism reduces the reward per block mined on bitcoin’s blockchain by 50 percent. Essentially, reward halving cuts the pace of supply expansion by 50 percent every four years. See also: Bitcoin Halving, Explained The cryptocurrency is set to undergo its third-ever reward halving next month, following which the per block reward would drop to 6.25 BTC from the current 12.5 BTC. Related: Bitcoin Volatility at 3-Month Low as Market Awaits Big Price Move The popular narrative is that halving is a price-bullish event. Bitcoin’s price has witnessed a solid rally over the past few weeks. The top cryptocurrency is currently changing hands near $7,050, representing over 80 percent gains on the low of $3,867 registered on March 13. As such, one may associate the recent price rally with the uptick in the search interest for bitcoin halving. However, it is doubtful anybody would be able to establish just how much of that rise in interest has translated into actual purchases of bitcoins. It’s quite possible that the retail community is merely searching for information about halving and its impact on price, but is sitting on the fence. Even the analyst community is divided on the prospects of a post-halving price rally. Some observers expect the 50 percent reward cut to bode well for bitcoin’s price. “Halving should create increased upward pressure on the price of bitcoin in the coming two months,” Matthew Dibb, co-founder and COO of Stack, told CoinDesk at the beginning of April. Further, stock-to-flow models predict that halving will send bitcoin’s price to $100,000. However, crypto asset analytics company Coin Metrics, in its recent “ State of the Network ” report concluded that miner-led selling pressure around bitcoin is likely to increase in the coming months. Story continues Queries for the phrase “buy bitcoin” have not seen a similar spike. The search term “buy bitcoin” is nearly a third down from when bitcoin suffered its “Black Thursday” crash on March 12. Thus increasing retail interest in the upcoming halving may not translate into additional buying pressure around the cryptocurrency. Yet, some observers cite the recent rise in the number of bitcoin addresses holding at least 1 BTC and at least 0.1 BTC as evidence of accumulation by retail investors ahead of halving. The number of unique addresses holding at least one bitcoin rose to a record high of 805,805 on April 16 after dropping from 795,140 to 789,399 in the seven days to March 16, according to data provided by Blockchain intelligence firm Glassnode. During that time period, bitcoin’s price fell from $9,000 to $4,000. The number of unique addresses holding at least 0.1 BTC also rose to a record high of 2,984,777. The number began rising sharply in February and maintained its ascent even during the March price crash. “We are hearing and seeing increased retail interest. The unprecedented era of stimulus and money printing has pushed many people toward bitcoin as an alternative monetary system,” said Mike Alfred, CEO of Digital Assets Data. The Federal Reserve cut interest rates to zero and launched an open-ended asset purchase program to counter the coronavirus-led economic slowdown. The balance sheets of G4 central banks – the Fed, Bank of Japan, European Central Banks and the Bank of England – have expanded to 40 percent of their respective nation’s combined gross domestic product, as noted by popular analyst Jeroen Blokland. See also: Bitcoin Mining Hardware War Is Heating Up Ahead of the Halving While the rise in the number of unique addresses does suggest accumulation, it should be noted that a single user can hold 50,000 coins in 50,000 different addresses. Therefore, these metrics do not necessarily represent retail accumulations. Related Stories Hong Kong’s First Regulator-Approved Bitcoin Fund Targets $100M Raise Crypto Long & Short: The Battle of the Yields View comments || Bitcoin to Rally after Halving?: However, if you ask thecrypto marketparticipants if this is the scenario they expected as halving approaches, the majority will say they expected more. Of course, with less than 5 days left before halving, a lot can happen around the crypto sphere, but on the fundamental level, everyone understands that if the recent growth of thebitcoinis the optimism maximum, then digital currencies are not doing well at the moment.
However, it is unlikely that it will be that bad for the first cryptocurrency, even if the price starts to decline significantly after halving, and even if it does not recover for a long time.
The last two times, halving ended with growth due to the unshakable faith of the crypto market participants in the Great Bitcoin Mission as a project that opposes the entire traditional financial system. When faith became too strong, institutional investors were allowed to enter the market.
Crypto-enthusiasts were waiting for a new impetus from institutional money. But futures became the starting point of crypto winter, hitting the hopes of retail investors in the crypto. Why did the popularization of Bitcoin in the financial world lead to a drop in price?
It was a sharp growth in the price of Bitcoin that led to the coin being perceived as a danger that needs to be contained. A growth above $10,000 and the scale of the crypto fever made Bitcoin “visible” to regulators.
The basic essence of the Bitcoin is its survival mechanism: the increasing difficulty of mining, decreasing profitability, and limited emission. By the way, a similar combination could also help the entire global economy. Previously, this combination led to an increase in the price of an asset.
However, now we can see that the growth of bitcoin is facing with quite serious difficulties. Why? The market composition has changed and the trading volume has grown significantly.
What is the actual (not theoretical) price growth limit for Bitcoin? Not $100K and not even $50K or $25K. It is likely that the basic principles of survival will change with the new conditions: the growth of trading volumes limits price growth, shifting Bitcoin from the category of speculation around the price to the investment of the financial system of the future.
Since the beginning of the year, trading volumes in the Bitcoin network have increased by 140% and are well above the 2017 levels. It is likely that Satoshi realized that an asset cannot develop with a non-stop price growth.
True crypto-enthusiasts should not be afraid of a decline in the price of bitcoin. Rising mining difficulty, lower premiums, stabilized prices, higher trading volumes, and a loss of regulatory interest – this formula may well work to turn a bitcoin into a real superstructure over a financial system despite current or the future price slumps.
by Alex Kuptsikevich, the FxPro senior financial analyst
Thisarticlewas originally posted on FX Empire
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• Right Now, the Bullish S&P 500 Ride Goes On No Matter What || Market Wrap: Bitcoin’s Price Tear Suggests It’s FOMO Time Again: There’s an old saying on Wall Street that financial markets are driven by two emotions, fear and greed. In the crypto markets, the driver is often a combination of the two: fear of missing out. The FOMO, as it’s often called, looked strong Wednesday as bitcoin jumped to its highest levels in nearly two months, rising as high as $8,900 while a buoyant stock market shrugged off bad economic data. At press time, the world’s largest cryptocurrency by market capitalization was up an eye-catching 14% over 24 hours at $8,851, well above the 10-day and 50-day technical indicator moving averages, signaling extreme bullish sentiment. Related: Blockchain Bites: Bitcoin’s Boom Roils Markets and a16z Makes a Long-term Play Crypto stakeholders continue to talk up the upcoming halving, an event that happens as often as the Olympic games or a U.S. presidential election, and for many bitcoiners is more important than either. Read more: Bitcoin Jumps 12% as Fed Keeps Money Flowing and US Economy Shrinks Around May 12, the amount of new bitcoin mined every 10 minutes or so will drop by 50%, a regular scheduled adjustment that was followed by price increases in 2012 and 2016. Possibly in anticipation of history repeating, in the past five days bitcoin has logged 21% price appreciation. “The media coverage of the halving over the last five months, combined with continually increasing Google search volume for ‘bitcoin halving’, suggests that we may see similar FOMO around the upcoming halving event,” said Danny Kim, head of revenue for crypto liquidity provider SFOX. Related: The ‘Great Lockdown’ Is Boosting Demand for Bitcoin Custody Solutions Read More: Bitcoin’s Halving Is Irrelevant for Some Large Traders Beyond any herd mentality, market participants noted the environment today is very different than during the first two halvings. “This halving is taking place in a much more volatile, uncertain macroeconomic environment than all past events,” said Charles Cascarilla, CEO of stablecoin provider Paxos. Story continues Exchange outages Trading activity spiked Wednesday, nearly overwhelming servers at U.S. cryptocurrency exchanges Coinbase and Kraken, which suffered brief outages. Coinbase leads major USD exchange volume in 2020 with three $200 million trading days in April. The S&P 500 index climbed 2.6% in trading Wednesday despite poor GDP numbers showing the world’s largest economy contracted for the first time in six years. Stocks’ ascent helps bitcoin but there’s likely a limit to the upside, said Josh Rager, a crypto trader and founder of learning platform Blackroots. “Personally, I don’t know if bitcoin can hit $10,000 but I think as long as the stock market performs well it will continue to have a positive impact on bitcoin,” Rager said. March’s market bloodbath led to volatility in the S&P 500: Three top-20 record low days and two top-20 record high days in performance for the index that month. However, April has been all about rebounding for the S&P 500 as government stimulus measures abound. More coronavirus relief is expected to be on the way with U.S. first-quarter annualized GDP numbers down 4.8%, the first quarter-to-quarter decline since 2014. Other markets Digital assets on CoinDesk’s big board performed well with bitcoin’s jump, and everything is in the green Wednesday. The second-largest coin by market cap, ether (ETH), gained 10% as of 21:00 UTC (5:00 p.m. EDT). Big-time winners include ethereum classic (ETC) up by 11%, eos (EOS) gaining 9% and bitcoin sv (BSV) climbing 6%. All price changes are as of 21:00 UTC (5:00 p.m. EDT). Oil is seeing a price rebound Wednesday, up 15% as of 21:00 UTC (5:00 p.m. EDT). Oil output is down and futures on the fossil fuel headed higher , a positive development after the commodity’s two-month bout of high volatility . Read more: 66% of Europeans Believe Crypto Will Still Be Around in 10 Years: Survey Gold traded up less than a percent Wednesday and closed the New York trading session at $1,710. The Federal Reserve on Wednesday said it would hold benchmark U.S. interest rates close to zero while pledging to continue buying assets in an unbounded amount to help keep global markets functioning smoothly. The central bank, led by Chairman Jerome Powell, said it would maintain the target range for its short-term lending rate at 0% to 0.25%, “until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price-stability goals.” U.S. Treasury bonds were mixed on the day. Yields, which move in the opposite direction as price, were down on the 2-year, in the red 8.6%. Europe’s FTSE Eurotop 100 index of largest companies in Europe ended its trading day in the green, up 1.3% on positive news regarding a potential coronavirus medical treatment . In Asia, trading in Japan was closed Wednesday for a local holiday. The Shanghai Composite and the Hong Kong Hang Seng index were both up less than 1%. Related Stories BTSE Exchange Taps Into Crypto Demand by Increasing Request-for-Quote Limits Genesis CEO Details ‘Black Thursday’ Chaos in Q1 Lending Report
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 9758.85, 9771.49, 9795.70, 9870.09, 9321.78, 9480.84, 9475.28, 9386.79, 9450.70, 9538.02
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2017-08-15]
BTC Price: 4181.93, BTC RSI: 75.72
Gold Price: 1273.70, Gold RSI: 58.17
Oil Price: 47.55, Oil RSI: 47.38
[Random Sample of News (last 60 days)]
Ossia thinks it's licked the problems with through-the-air charging: – Shocker: The world is going wireless. We eliminated the wires that transmit sound. Pictures. Text. Data. Now, there’s only one major cable left to ditch: the power cord. That’s the dream, right? Your phone charging all day, in your pocket. Your smartwatch always juiced up without leaving your wrist. Thinner, lighter, more shapely gadgets, freed from the obligation to contain a huge blocky battery. Plenty of companies are working on through-the-air charging for consumer electronics. But none have products on the market, and plenty of people (and investors) are skeptical that the concept will ever work. Too many safety, efficiency, and regulatory obstacles, they say. (Here, for example, is my investigation of the Energous distance-charging technology .) Another startup, called Ossia, thinks that it may have licked all three problems. Ossia hopes to have wireless distance charging on the market within 12 months How Ossia’s system works Like its rivals, its system (called Cota) involves a transmitter, which will someday be built into walls or ceilings, and a tiny receiver, which will someday be built into our phones and other devices. The transmitter tile (left) and the receiver prototype. (Cleverly enough, Ossia has also packed its receivers into AA batteries, so that our smoke detectors, thermostats, remote controls, toys, and game controllers can charge wirelessly, too.) Hatem Zeine shows off a AA battery that can recharge through the air. Energous, as I reported earlier, works by beam forming: Its transmitter contains hundreds of tiny antennas that focus on your phone. But Ossia founder Hatem Zeine says that beam forming isn’t nearly targeted enough. “The signal is as wide as the emitter,” he says. “It never gets any smaller. Your device will get some power, but so will all the environment around it. Your whole body would be receiving power.” His solution also involves thousands of tiny antennas. But his breakthrough is a clever call-and-response system that tells the transmitter where to send its power. Your phone pumps out a beacon signal: “a very short pulse—microseconds. It says, ‘I’m device A7374; I would like some power.’” This beacon signal reflects off of walls, windows, and people. (The power of this signal, Zeine says, is 1,000 times weaker than Bluetooth.) Story continues Each antenna in the transmitter receives that beacon signal from all of those paths, including the direct line-of-sight signal, if available. Now the transmitter knows where your gadget sits—and it sends power right back through those same paths. In other words, Zeine says, “non-line-of-sight charging is therefore possible. If line of sight is available, we’ll use it. But if not, we’ll use the other paths. We’re going to just play back the incoming beacon path.” Since the phone pumps out 100 beacon signals per second, it’s OK if it’s moving around the room in your pocket. The power beam stays locked on it. So how much power are we talking about? “The power is proportional to the area of the transmitter,” Zeine says. “We can charge a phone with 1 watt at three to six feet with a single [transmitter] tile. But we can also install multiple tiles—for example, in a ceiling—to cover a conference room or an airport gate. That way, we could charge eight phones at the same time in an area of 15 to 30 feet.” The demo To prove that Cota works, Zeine brought one tile, two feet square, to the Yahoo office. He also had a palm-size receiver containing a USB jack. I plugged an unprepared Android phone into it—borrowed from Alan, our sound man—and sure enough, it began charging. The receiver box was about five feet from the transmitter. We also tried a Samsung smartwatch. We plugged its charging stand into the Ossia wireless receiver—and sure enough, the watch unmistakably began to charge. But how could I test Zeine’s claim that Cota doesn’t need line of sight—that it’s constantly reconfiguring its beam path? After all, you can’t see the power beam, right? To solve that problem, Zeine produced a tiny detector paddle. It lights up only when it’s in the beam’s path. The paddle’s LED shines when it’s in the power’s path. By moving the paddle up, down, left, and right, and watching when the LED illuminates, I could very clearly see the path from the transmitter to the receiver. It was like using a candle flame to detect the stream of moving air from a fan. The paddle lit up whenever it intercepted the imaginary line between the transmitter and receiver—obviously. But when I stepped in between them and held the paddle in front of me, the light went out—yet the receiver was still receiving power! (How did I know? First, because the receiver has its own indicator light. Second, if we put the paddle next to the receiver, it lit up again.) Clearly, the power signal had found a new path around me—probably by bouncing off the walls and the ceiling. You can see all of this in the video above. When I stood in the way, the power signal found a path around me. If you’re clever, you’re already seeing the downside of this arrangement: It works only indoors. If you’re outside, there’s nothing to reflect the signals, and so the “no line of sight” feature goes away. Sorry about that, campers. Ossia’s future Ossia doesn’t intend to manufacture anything. Instead, it will license its technology to electronics makers. Before it can do that, of course, it must receive the FCC’s approval, which is a looming obstacle for any wireless-tech company. “We’ve shown that we can meet all the FCC’s requirements. Of course, there’s a lot of work we have to do. We don’t have a product—this is not going to market yet. But once these steps are completed, we will see products on the market. We believe that this is within 12 months from today.” Zeine admits that the doubts and troubles faced by his competitors have made the whole industry look bad. (An ex-engineering executive from rival uBeam, for example, said that uBeam’s technology is basically a hoax .) All of that makes his job harder. “People are very skeptical. But it’s also good, because it has created a lot of publicity for the wireless power market,” he says. “What others do, good luck to them. But we are the only company that’s demonstrated its product in public. We’ve also tested for safety. So we know that our technology can deploy. It’s not is a matter of if. It’s a matter of when—when we complete all the regulatory requirements, and so on.” In any case, he’s convinced that through-the-air charging will, one way or another, become a thing. “In a few years’ time, it will be like Wi-Fi. You’ll have it at the office, at home, in the car, on the plane, the coffee shop, et cetera. You won’t need to carry a 600-hour standby battery and a 12-hour talk-time battery. You’ll need maybe a one-hour talk time battery and a 50, 60-hour standby battery, because you’re getting power all the time.” Your phone will be thinner and more powerful, because its processor and screen can be brighter and faster. Why is he so confident? Because analysts estimate that by 2020, we’ll have a trillion Internet of Things gadgets—smart devices—in our homes. “And anything with the word ‘trillion’ in front of it is going to be lucrative,” Zeine points out. In case you were wondering, Ossia isn’t some nonsensical made-up word. In Latin, it means alternative. If you’re a musician, maybe you’ve seen sheet music examples like this one, where “ossia” offers an alternative, usually less difficult line to play or sing: In the musical world, “ossia” denotes an alternative to play. It’s a great name for Hatem Zeine’s technology—both because the whole thing presents an alternative way to charge things, and because the power is constantly finding alternative paths to your phone. Now let’s just hope it finds a path to our phones and gadgets. More from David Pogue: Is through-the-air charging a hoax? Electrify your existing bike in 2 minutes with these ingenious wheels Marty Cooper, inventor of the cellphone: The next step is implantables The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’s davidpogue.com . On Twitter, he’s @pogue . On email, he’s [email protected]. You can read all his articles here , or you can sign up to get his columns by email . || Alleged bitcoin fraud 'mastermind' sought by U.S. held in Greek prison: By Angeliki Koutantou ATHENS (Reuters) - A Russian national suspected of masterminding a money-laundering operation using bitcoin was transferred to prison in Greece on Friday, while the United States prepares documentation to back an extradition request for him. Russian national Alexander Vinnik, 38, is suspected of operating a digital currency exchange which was the alleged conduit for more than $4 billion in proceeds from illicit transactions. He was arrested in northern Greece on July 25 on the basis of a U.S. warrant for his arrest and extradition. "He has gone to a prosecutor, a jail order was issued, and he was escorted to prison today," a senior police official told Reuters. The official, who spoke on condition of anonymity, said that according to regulations the United States has a two-month window in which to submit the relevant documentation to appeals prosecutors regarding Vinnik's extradition. Vinnik was arrested at a hotel in the Chalkidiki region. Police seized five mobile telephones, two laptops, two tablets and a router during the arrest. Local media have reported that Vinnik denies allegations against him. It was not immediately clear if he had a lawyer. Officials have described Vinnik in a U.S. Justice Department statement as the operator of BTC-e, an exchange used to trade the digital bitcoin currency in operation since 2011. Vinnik, justice officials alleged, committed crimes which went beyond the lack of regulation of the bitcoin exchange he operated. They have alleged Vinnik and his firm received more than $4 billion in bitcoin, and that BTC-e 'obtained' funds from Mt Gox, a Japan-based bitcoin exchange which collapsed in 2014 after being hacked. A 'sizeable portion' of the stolen Mt Gox funds were deposited in accounts controlled, owned and operated by BTC-e and Vinnik, the indictment said. Mt Gox was one of the most prominent examples of how the lightly regulated digital currency could burn investors, after an estimated $450 million worth of bitcoin and $27 million in hard cash vanished when it collapsed. (Reporting By Angeliki Koutantou; Writing by Michele Kambas; Editing by Hugh Lawson) View comments || Bitcoin and Ethereum Price Forecast – Bitcoin Consolidates as ETH Crashes: Bitcoin prices continued on their consolidation and ranging phase and as we have pointed out many times over, over the last few days, this is likely to be the trend in the short and medium term as we wait for the next direction in the field of cryptocurrencies. Over the last few weeks, we have seen the interest increase in this field but that has not translated into higher volatility as yet.
It is clear that the bitcoin traders are a bit wary at these prices and ideally, they would like to see a correction in the prices before they start buying again. But those who have already bought the bitcoins are in no mood to left the price fall and that is one of the reasons for this consolidation. Also, as mentioned many times before, the number of bitcoins is finite and hence the demand and the prices are likely to continue to remain high despite competition from many such similar currencies.
On the technical front, we see some strong support coming in the bitcoin prices at around the $2400 region and this support should be enough to keep the bulls interested. We expect this consolidation and ranging for some more days to come as the market and the traders prepare themselves for the next move.
Ethereum prices have broken through the support region at $260 and this has led to the prices pushing lower into the $230 region. We had mentioned the same in our forecast last week where we had said that a break through the tight ranges of last week would lead to a large move and this is what happened over the last few days as the prices crashed by close to 10%. This is just a measure of the volatility that the traders have to deal with and like every other instrument, this volatility has the capability to give or take out a lot from the traders.
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• European Shares Rise Following Dovish Remarks from ECB Officials || Elon Musk took a jab at Volvo while talking about the Tesla Model 3's crash test: tesla model 3 volvo s60 side impact crash test (A view of the Tesla Model 3's side-impact pole crash test.Tesla/YouTube) Tesla CEO Elon Musk took a jab at Volvo while talking about safety features on the Tesla Model 3, his company's new entry-level electric car. During a handover event at Tesla's factory in Fremont, California, Friday night, Musk showed a video that he said displayed side-by-side clips of a Model 3 and a 2016 Volvo S60 undergoing the same crash test. The test is a type of side-impact crash simulation that mimics a car colliding sideways into a pole at 20mph which, in this test, would typically cause major damage to the driver-side door and a portion of the roof. The video appeared to show that the Volvo S60, which achieved a five-star crash safety rating in all categories according to the National Highway Traffic Safety Administration, was damaged more severely than the Model 3. "There's a lot of cars that say they're five-star they are five-star though that's not a scientific metric," Musk said. "Even something like the Volvo great car. By normal standards, very safe. The Volvo is arguably the second-safest car in the world," he said, eliciting laughs and applause from the audience. "It is obvious which car you would prefer to be in, in an accident." Watch the moment below, starting at the 4:14 mark: There was some confusion about that test, after some internet commenters suggested the Volvo S60 was crashed at a higher speed than the Model 3. But the side-by-side comparison in the video above does appear to show two identical side-impact pole collisions occurring at 20mph according to NHTSA documentation, and Tesla confirmed in an email to Business Insider that the side-impact tests in the video were indeed the same. Musk has made such a comparison in the past, hailing Tesla's crash safety as the best in the world, a statement that has caught the attention of some industry veterans because Volvos have a longstanding reputation for safety. The company even has a plan to eliminate crash deaths in its new cars by 2020 . Story continues Volvo XC90 front crash (A Volvo XC90 crash test.Volvo Car Group) It started with the seat belts The 90-year-old Swedish automaker was the first to install three-point seat belts in a car in 1959 and has achieved top ratings in crash-test categories for decades. Business Insider asked Volvo Cars US CEO Lex Kerssemakers last year for his take on Musk's ambition to have Tesla dethrone Volvo as the safest cars on the road. "In the end, we need to create a society where 33,000 people aren't killed [in auto accidents] every year, so I can only encourage him in making safe cars," Kerssemakers said of the Tesla CEO. "I know which is the safest car company, and were not going to give that up," he said. The Volvo executive said that ultimately he's not concerned with titles, saying vehicle safety is a long-term journey. "It's not about 'we've got to win this year and that year.' We collect data from real-world accidents, and we've got a really good idea how cars react in different accident scenarios," Kerssemakers said. Tesla has previously taken a less charitable view of Tesla crash-test results that were anything less than perfect notably after a recent test of a Model S that received the Insurance Institute for Highway Safety's (IIHS) second-highest rating in a frontal collision . Tesla hit back at the IIHS, suggesting the agency was motivated by "subjective purposes." NOW WATCH: TOP STRATEGIST: Bitcoin will soar to over $20,000 by cannibalizing gold More From Business Insider With the Model 3, Elon Musk put the focus exactly where it should be Tesla's employees Elon Musk on Model 3: 'We're going to go through at least 6 months of production hell' I just drove the Tesla Model 3 and it changes everything the entire world will want this car || Bitcoin cash is crashing: (Ian MacNicol/Getty Images)
Bitcoin cash, the new cryptocurrency, is crashing.
Bitcoin cash has dropped 33%, to $290 a coin, over the past day, according to data from Coinmarketcap.com. That's down from its all-time high of $727 set on Wednesday, a day after its debut.
Meanwhile, bitcoin is up 1.92%, to $2,852.
On Tuesday, bitcoin split in two after a years-long battle in the cryptocurrency community over the rules that should guide bitcoin's network.
That split resulted in the creation ofbitcoin cash, which was spun out of the same blockchain network as bitcoin — almost like a copy of it — but built to process more transactions more quickly.
Many folks in the community think bitcoin cash's price has beeninflated by issues with the technologyunderpinning the coin.
When the cryptocurrency split, investors who stored their bitcoin in digital wallets that supported bitcoin cash received one bitcoin cash coin for every bitcoin. But many of them can't access their bitcoin cash coins, so they can't transfer them to exchanges where they can actively be bought and sold.
According to Aaron Lasher, the CMO of Breadwallet, a bitcoin wallet, the price of bitcoin cash could drop even further once those coins enter the exchanges, based on simple economics — when more people look to sell a good than to buy it, the price falls.
Samson Mow, the chief strategy officer at Blockstream, told Business Insider the bitcoin cash house of cards could fall apart and that the cryptocurrency was unlikely to "survive at prices above $100 in the long term."
Sebastian Quinn-Watson, a venture partner at Blockchain Global, a bitcoin exchange operator based in Australia, said, "We have some of our key traders telling us that they will be getting out of their BCC positions by 8 August."
August 8 is when SegWit, a software update for the original bitcoin blockchain, is set to go into effect.
"We see 8 August as the day the bell tolls for bitcoin cash," Quinn-Watson said. "If the prices of BCC remain strong post the 8th then it is likely to be a currency for a long period.
"Alternatively, we could see a consolidation in bitcoin and see it run well past its peak," he concluded.
NOW WATCH:Stocks have shrugged off Trump headlines to hit new highs this week
More From Business Insider
• Bitcoin's meteoric rise is costing some investors billions
• Bitcoin cash may be a house of cards that comes crashing down
• Bitcoin's explosive gains could spell good news for stocks || JOBS WEEK What you need to know in markets this week: This is Yahoo Finances preview of the week ahead in markets. For Myles take on the stock markets surprising rally this year, scroll down. After we wrapped up the month, the quarter, and the first three-quarters of the decade last week, markets this week will turn their attention the U.S. jobs report and the second half of 2017. On Friday, the June employment numbers will cross, with economists expecting the economy added 177,000 jobs last month while the unemployment rate remained steady at 4.3%. And after a half-year that saw stocks in the U.S. rally, bond yields fall, and the focus move from what the Trump administration had planned to what Americas biggest tech companies were up to , investors will head into the back half of the year looking for a new script. David Rosenberg, a strategist at Gluskin Sheff, wrote this week that right now it is, a dangerous market. Rosenberg added, What else can one say when the CBOEs VIX is at 10x, the S&P 500 is within 0.6% of an all-time high, the P/E multiple on reported earnings is the second highest in the past thirty years, and value stocks have lagged the broad market by over 10 percentage points this year and have underperformed growth by an extent we have not seen in three decades. The risks are endless at the current time. Economic calendar Monday: Markit U.S. manufacturing PMI, June (52.1 expected; 52.1 previously); ISM manufacturing PMI, June (55.2 expected; 54.9 previously); Construction spending, May (+0.3% expected; -1.4% previously); Auto sales, June (16.5 million expected; 16.58 million previously) Tuesday : Markets closed for July 4th holiday Wednesday : Factory orders, May (-0.5% expected; -0.2% previously); FOMC minutes, June 13-14 meeting Thursday: ADP private payrolls, June (+190,000 expected; +253,000 previously); Initial jobless claims (243,000 expected; 244,000 previously); Trade balance, May (-$46.3 billion; -$47.6 billion previously); Markit services PMI, June (53 expected; 53 previously); ISM non-manufacturing PMI (56.5 expected; 56.9 previously) Friday: Nonfarm payrolls, June (+177,000 expected; +138,000 previously); Unemployment rate, June (4.3% expected; 4.3% previously); Average hourly earnings, month-on-month, June (+0.3% expected; +0.2% previously); Average hourly earnings, year-on-year, June (+2.6% expected; +2.5% previously) Story continues The bull case for stocks this year fell apart, then stocks rallied Coming into 2017, stock market investors were bullish on the plans then-President elect Donald Trump had for the U.S. economy. At the top of the list was tax reform , which Trump pledged would take the U.S. corporate tax rate down to 15% from its current level of 35%. This, analysts argued, would be a boon to U.S. profit margins and stocks rallied after his win. Additionally, stocks levered to an increase in infrastructure spending rallied, as did financials, as the Trump agenda was seen as something which would both be goods for stocks and executed in due time. Higher expected interest rates also sent bond yields higher. But by the end of the first quarter, these trades had started to unwind and yet, stocks were on the move higher. In the first half of 2017, the S&P 500 gained 8.2%. And as the Trump trades fell apart, big-cap tech companies once known as FANG but re-cast by Goldman Sachs analysts as FAAMG , became the market story in 2017. Facebook ( FB ) shares gained 31%, Apple ( AAPL ) gained 24%, Amazon ( AMZN ) added 29%, Microsoft ( MSFT ) shares rallied 10%, and Google parent Alphabet ( GOOGL ) rose 17%. Together, these companies added about $600 billion in market cap this year and are worth over $2.6 trillion collectively. This is the world we live in. Instead of investors looking to Washington, D.C. for guidance on where stocks would go they instead look to the big-cap tech stocks that define our digital lives and power the trend towards buying growth stocks that investors became enamored with this year. And while the markets driving narrative shifted from Trump to tech, the seas were calm, with the markets biggest peak-to-trough drawdown this year coming in at 2.8%, the lowest since 1995, according to Charlie Bilello , director of research at Pension Partners. Meanwhile, Bitcoin, blockchain, and digital currencies closed out the first half of the year with a cover story in Barrons , a sentiment check for those who have seen this space emerge as perhaps the most talked about asset class of the year. In the end, however, the old adage was true: stocks usually go up . On a log scale, the stock markets rise looks smooth. Along the way, things didnt seem so clear. (Source: Yahoo Finance) But the lessons of the first half of 2017 just as those we highlighted in 2016 remain very much the same. Since 1950, the S&P 500 has gone up just shy of 9% per year ; over the last century stocks have risen, on average, closer to 7% per year. Over this long arc, the returns look smooth and the idea is simple. As it happens, however, the markets action and the stories we tell about it appear lumpy, foolish, and contradictory, at the very least. The daily market action is jumble of ideas and technicalities and humans and computers colliding. Or as the philosopher Joseph Campbell attributes to Arthur Schopenhauer, when you look back on your life, it looks as though it were a plot, but when you are into it, its a mess: just one surprise after another. Then, later, you see it was perfect. In markets as in life. Myles Udland is a writer at Yahoo Finance. Follow him on Twitter @MylesUdland Read more from Myles here: Amazon is not going to be afraid of a Whole Foods flop The market is being powered by five big tech stocks and thats normal Its a great time to be a college grad in America How self-driving trucks can create more jobs than they kill How Trump can fix the most persistent problem in the U.S. economy || The indicator that will show whether bitcoin has split: Latest bitcoin blocks as of 1319 UTC, Aug 1 2017 Bitcoin is in the middle of a contentious “hard fork” that could cleave the cryptocurrency in two for the first in its nearly nine-year-long history. The world could end up with bitcoin and a new cryptocurrency called “bitcoin cash” that promises to offer to an eight-fold increase in transaction capacity. Even though a deadline of Aug. 1, 12:20 UTC has been set, the fork doesn’t exactly happen then. That’s because the proposal uses a particular calculation called “ median time past ” which, in practice, winds up being about an hour after 12:20 UTC, or 8:20 am US Eastern time. New data on H-1B visas prove that IT outsourcers hire a lot but pay very little So when, exactly, does bitcoin split? What we have now is a set of necessary but not sufficient conditions for a split. The technical indicator to watch for is the block size. The bitcoin protocol limits the size of each block, which is a bundle of transactions and other metadata, to 1 megabyte. Any block mined larger than 1 MB will be bitcoin cash’s “genesis block”—the starting point of a whole new cryptocurrency. Watch the “size” column of the latest blocks mined at data provider Blockchain.info. Anything larger than 1,000 kilobytes shows that bitcoin has forked. This website also has a handy “chain split” monitor. This should happen any time now. Read next: Bitcoin’s civil war threatens to blow up the cryptocurrency itself 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 Mozart-like complexity of Carly Rae Jepsen’s biggest hits With no more income from album sales, a 69-year-old rock legend has to go back on tour || A petition on Change.org is calling on Amazon to accept bitcoin 'ASAP': Screen Shot 2017 06 23 at 10.18.22 AM (Change.org) Bitcoin has been soaring to new heights, and now folks on Change.org are calling on e-commerce juggernaut Amazon to accept the cryptocurrency as payment "ASAP." Since March 23, bitcoin has increased 159%, from a little over $1,000 to $2,700. At least 2,100 petitioners on Change.org want Amazon to join companies such as Microsoft and Overstock in accepting bitcoin as a form of payment. They also want the company to accept litecoin, another cryptocurrency. The petition cites the following reasons as to why it would be a good idea for Amazon to accept the two cryptocurrencies: "Low transaction costs" "Decentralized currency" "Low Inflation (Because of the finite supply of Bitcoins (this mostly benefits the consumer)" "Bitcoin is accessible to any person of any age, sex, demographic, etc. (it is extremely advantageous to citizens of crisis countries)" "Non-reversible payments (Extremely beneficial to reputable companies such as Amazon.com)" "Bitcoins are extremely secure (Bitcoins reside in an encrypted format on the wallet they are kept in)" But Amazon might be skeptical about bitcoin, and for good reason. For starters, cryptocurrencies are known for their constant fluctuations in price. Ethereum , another cryptocurrency, flash crashed on Wednesday. It tumbled from about $296 to a low of $13 in a matter of minutes. Many people think a price correction is on the horizon for bitcoin. Mark Cuban, the billionaire investor, took to twitter on June 6 to say he thought there is a bitcoin " bubble ." 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 https://t.co/hTrV5DeWNd — Mark Cuban (@mcuban) June 6, 2017 Additionally, some don't view bitcoin and other cryptocurrencies as viable. Morgan Stanley, for instance, recently said that merchants don't think cryptocurrencies have a bright future. Here's Morgan Stanley: Story continues Most regulators and investors view cryptocurrencies more as assets than actual currencies. Their values are too volatile and too hard to actually use for payment for most to consider them currencies. Our conversations with some merchants indicate that, while cryptocurrencies might actually be attractive for them to operate their businesses, they find that the cryptocurrencies are far too volatile to be used. Other obstacles to bitcoin's future, according to the bank, include the Chinese crackdown on mining bitcoin and declining trading volumes . NOW WATCH: THE BOTTOM LINE: A lot of talk of a bitcoin bubble and a few good reasons to believe tech isn't one More From Business Insider UK finance watchdog warns on ICOs: Be 'prepared to lose your entire stake' 'Jamie Dimon doesn't have the strongest track record when it comes to looking over the hill': Bitcoin community reacts to JPMorgan CEO's comments The former CIO of $3 trillion financial giant UBS has joined the non-profit behind one of the largest cryptocurrencies || Bitcoin soars to fresh record highs past $4,200: Bitcoin soars to fresh record highs past $4,200 Investing.com - The price of the digital currency Bitcoin rose above the $4,200 level on Monday for the first time in its nine-year history. On the U.S.-based Bitfinex exchange, Bitcoin hit a high of $4,233.0. It was last at $4,211.4, up $152.1 or 3.75%. Bitcoin has more than quadrupled in value so far this year and has gained around 47% in August. The surge means that the total market cap of Bitcoin has now risen to around $69 million. Bitcoin has rallied to a series of record highs in recent sessions amid optimism that faster transactions times will speed up the spread of the cryptocurrency. New software called Segregated Witness, or SegWit was successfully adopted by the blockchain supporting Bitcoin last week. The SegWit rollout is seen as a milestone for Bitcoin. The software was developed as a solution to the cryptocurrencys scaling problem, which led to a split or so-called hard fork on August 1 when the blockchain supporting Bitcoin split into two, creating Bitcoin Cash. Bitcoin received an additional boost after Goldman Sachs said in a report last week that it is becoming more difficult for institutional investors to ignore the rise of 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, Goldman said. Elsewhere in cryptocurrency trading, Ethereum, Bitcoins closest rival in terms of market cap, rose 2.89% or $8.47 to $301.29. Bitcoin Cash, the newly created offshoot of Bitcoin, was down 1.85% at $302.0, while Ripple was up 2.18% at 17 cents. To stay on top of the latest moves in the crypto-space, be sure to check out: https://www.investing.com/crypto/ Related Articles Forex - Dollar index bounces off 1-week trough, moves higher Dollar nurses losses as outlook remains wary Forex - Dollar pushes higher as market volatility eases || Buoyant bitcoin stirs crypto-bubble fears: By Jemima Kelly
LONDON (Reuters) - Bitcoin and other "cryptocurrencies" are big money, virtually as big as Goldman Sachs and Royal Bank of Scotland combined.
The price of a single bitcoin hit an all-time high of above $3,500 this week, dragging up the value of hundreds of newer, smaller digital rivals in its wake. Now some investors fear a giant crypto-bubble may be about to burst.
It has been a year of unprecedented growth for the largely unregulated market, with dozens of new currencies appearing every month in "Initial Coin Offerings" or ICOs. They have achieved value almost instantly, drawing in those who are eager to get in and make a quick buck.
At the start of 2017, the total value - or market cap - of all cryptocurrencies in existence was about $17.5 billion, with bitcoin making up almost 90 percent of that, according to industry data firm CoinMarketCap.
It is now around $120 billion - around the same value as Goldman and RBS together - and bitcoin makes up only 46 percent.
Bitcoin Cash, a clone of bitcoin that was split off from the original last week by a rival group of developers, was valued at more than $12 billion less than 24 hours after it had started trading.
"It's just created new value out of nowhere," said Rob Moffat, a partner at Balderton Capital, a London-based venture capital firm who focuses on fintech. "There's no fundamentals behind any of this - it's all based on public perception, so you can start to see some really strange phenomena."
For an interactive Reuters graphic of the top cryptocurrencies, click on:http://tmsnrt.rs/2gWgyLc?eikon=true
Cryptocurrencies - so-called because cryptography is used to keep transactions secure - allow anonymous peer-to-peer transactions between individual users, without the need for banks or central banks. They use blockchain technology, a shared record-keeping and processing system that means digital money cannot be copied and spent more than once.
Billionaire U.S. investor Howard Marks likens the market to the dotcom bubble of the turn of the century - whose demise he predicted. He said in a recent investor letter that digital currencies were an "unfounded fad ... based on a willingness to ascribe value to something that has little or none beyond what people will pay for it".
But advocates of cryptocurrencies say 2017 is just the beginning of bull run. They argue the finite nature of these currency units - there will never be more than 21 million bitcoin, for example - as well as the technological innovation that underpins them will ensure their enduring value.
"The idea of this thing being a bubble is silly. We're in the bottom of the first innings," said Miguel Vias of Ripple, the third-biggest cryptocurrency, who was previously global head of precious metals and metal options at CME Group.
DASH TO ETHER
Whichever way cryptocurrencies move, they are likely to move together because their values are highly correlated, feeding off each other and magnifying the market effect.
That's partly down to investor sentiment, but also because the start-ups issuing new coins in ICOs generally collect money in a more liquid cryptocurrency, such as bitcoin or, more commonly, Ethereum's ether - the second-biggest cryptocurrency in total value.
That has driven demand for ether, which has climbed over 3,000 percent so far this year and now has a market cap of around $28 billion.
Bitcoin, which was launched in 2009, was the first successful cryptocurrency and is still easily the biggest, with a market cap of over $54 billion.
Its price has shot up around 225 percent so this year, and performed better than any conventional, central-bank issued currency in every year since 2010 bar 2014.
The blockchain-based currencies that have been built since bitcoin - 842, at last count - vary hugely in terms of their credibility.
Sceptics say bitcoin and its rivals are not particularly useful as currencies, as they are still volatile and not accepted by most merchants. They are mostly just used for speculative trading purposes.
There are some signs of acceptance of the biggest players by the establishment, however; Ethereum has been piloted by the United Nations as a way to distribute funds to Syrian refugees. Ripple has been successfully used as a payment method between settlement systems in a Bank of England trial.
Some other, smaller cryptocurrencies such as Dash, Monero and Z-cash are seen as having real value by some users because they offer an even higher level of anonymity than the likes of bitcoin. Whistle-blowing website Wikileaks this week said it would accept Z-cash for online donations.
'DARWINISM IN REAL-TIME'
It is mainly the new "token" cryptocurrencies that are issued in ICOs with no regulatory oversight, which have exploded since the start of the year, that are causing the most anxiety.
One, the "Useless Ethereum Token", which appears to have been set up as a way of showing how worthless many of the ICOs really are, is nonetheless changing hands for 3 cents a unit. "No value, no security, and no product. Just me, spending your money," its website states.
"It's just so easy to raise money on an ICO right now, it just feels like there's a gold rush going on there," said Moffat. "Some of the new currencies - beyond bitcoin and Ethereum - could crash to zero."
By mid-July, about $1.1 billion had been raised in ICOs this year, roughly 10 times more than that in the whole of 2016, according to cryptocurrency research firm Smith + Crown. (Graphic:http://tmsnrt.rs/2ueAWvr)
The rapid ascent of ICOs prompted the U.S. Securities and Exchange Commission (SEC) to warn last month that some ICOs should be regulated like other securities.
This is new digital territory and how the rapidly proliferating cryptocurrency market will play out is anyone's guess.
While critics say the highly correlated nature of the currencies means the weakness of newer entrants could bring the whole house down; others argue market forces will ensure the best players prevail.
"Will some of these (currencies) go away? Of course," said Vias of Ripple. "We’re going to see Darwinism in real-time here. Only the strong will survive."
For graphic on cryptocurrencies click:http://tmsnrt.rs/2gWgyLc?eikon=true
(Reporting by Jemima Kelly; Editing by Pravin Char)
[Random Sample of Social Media Buzz (last 60 days)]
BTCが購入時の1.42倍まで伸びてて嬉しい。ま、もっと伸びるだろうけとも || Poloniex #4 Market(8.00%) LTC/BTC - Litecoin Vol(24h):16736.3 BTC / $45,787,700 - Price: $46.58 / 0.0170249 BTC || We're almost there! #bitcoin today! http://bit.ly/1IAb8e4 || Bitcoin is 4200$ right now
180$ btw || NovaExchange #14 Market(1.45%) BCH/BTC - Bitcoin Cash Vol(24h):4.049 BTC / $16,120 - Price: $298.59 / 0.075 BTC || ION PRICE
Bid: $1.80
Ask: $1.83
Last: $1.79
1 BTC: $4010.00
Tweet number: 128 || The price of the digital currency bitcoin crossed over the $4,000 mark for the first time in its nine-year history http://on.wsj.com/2uADOEE || One Bitcoin now worth $2494.00@bitstamp. High $2528.72. Low $2383.00. Market Cap $40.956 Billion #bitcoin || #bitcoin breaks $4,000 https://betanews.com/2017/08/13/bitcoin-breaks-4000 …pic.twitter.com/WAuPGIlZ6F || Marlins($1.2 b )...Rockets( $2.2b +-) ...S&P 500(2441) ...RUT 2000 (1374 ) ...Bitcoin($4000+-)....return next ten years ---your pick ...
|
Trend: no change || Prices: 4376.63, 4331.69, 4160.62, 4193.70, 4087.66, 4001.74, 4100.52, 4151.52, 4334.68, 4371.60
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
University of California notifies 80,000 of cyber attack: SAN FRANCISCO (Reuters) - Officials at the University of California Berkeley said on Friday that they were alerting 80,000 people, including current and former students, faculty and vendors of a cyber attack on a system that stores social security and bank account numbers. The news comes just more than a week after a Southern California hospital paid hackers $17,000 in the digital currency Bitcoin to regain control of their computer systems after a so-called "ransomware" attack. The San Francisco Bay Area university said there was no evidence that attackers actually took any personal information, but that it was still alerting the 80,000 individuals to be on the lookout for misuse of their information. The school said a hacker or hackers gained access to its financial management software in late December due to a security flaw present when the system is updating. Officials have notified law enforcement, including the FBI, and hired a private computer investigation company. The university said among the potentially affected are 57,000 current and former students; about 18,800 former and current employees; and 10,300 vendors who work with the school. Those figures come out to about half of the school's current students and two-thirds of its active employees. Large, high-profile organizations and businesses routinely come under cyber attack, and the school said it frequently identifies similar hacking attempts. "The security and privacy of the personal information provided to the university is of great importance to us," Paul Rivers, UC Berkeley's chief information security officer, said in a statement. "We regret that this occurred and have taken additional measures to better safeguard that information." The school said it was providing credit protection service free of charge to those potentially impacted. (Reporting by Curtis Skinner in San Francisco; Editing by Sharon Bernstein) || 5 trades to watch after wild month: U.S. stocks rallied on Friday, capping a choppy, losing month for markets. With a cloudy outlook ahead, "Fast Money" traders outlined their best ideas moving forward.
Major averages rose more than 2 percent each after the Bank of Japan adopted a negative interest rate policy. The promising day put an end to a rough month in which the S&P 500(INDEX: .SPX)fell about 5 percent.
Traders noted that the up-and-down sessions may continue. In the current environment, "you want to buy anything with a yield," said trader Brian Kelly.
He believes the iShares 20+ Year Treasury Bond ETF(NYSE Arca: TLT)has room to climb if investors seek safer bets. Demand for the U.S. 10-year Treasury note(U.S.: US10Y)has already sent its yield 15 percent lower this year, and it lingered near 1.9 percent on Friday.
Trader Dan Nathan also stressed that yield is crucial currently. He previously had long trades in Verizon(NYSE: VZ)and the Utilities Select Sector SPDR Fund(NYSE Arca: XLU), which he sold after the prices of both rose this year.
The Market Vectors Gold Miners ETF(NYSE Arca: GDX)has also beaten markets this year, rising 3.6 percent. In that period, the price of gold futures has climbed more than 5 percent.
"Something's going on with gold miners to the upside," trader Guy Adami said.
Trader Tim Seymour would sell emerging market stocks on strength. The iShares MSCI Emerging Markets ETF(NYSE Arca: EEM)rose more than 3 percent Friday, but Seymour sees "major structural problems" in emerging economies and said he would sell out of the fund.
Disclosures:
Tim Seymour
Tim Seymour is long AAPL, BAC, DO, FCX, INTC, IWM, NKE, T, XOM. Tim's firm is long BABA, BIDU, IWM, PEP, SAVE, SBUX, VALE, WMT.
Dan Nathan
Dan is long WMT Feb put spread, long PFE buy-write, long TWTR, long TLT Apr risk reversal, long XLP put spread.
Brian Kelly
Brian Kelly is long BBRY, Bitcoin, GDX, GLD, SLV, TLT, US Dollar; he is short Aussie Dollar, British Pound, CS, DB, EWH, Hong Kong Dollar, UBS, SPY, Yuan.
Guy Adami
Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
More From CNBC
• Top News and Analysis
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• Personal Finance || Now You Can Play The Lottery With Bitcoin: While bitcoin has faced several obstacles in its journey toward mainstream adoption, the cryptocurrency appears to be starting the New Year off on the right foot. Not only has bitcoin seen its value increase steadily over the past three months, but the coin has gained some fame, as merchants continue to adopt the cryptocurrency as a valid form of payment. The latest place consumers can find use for their bitcoins is the lottery, which has gotten a lot of attention recently due to its $1.6 billion Powerball Jackpot prize.
Bitcoin Payment
Mobile lottery ticket app Jackpocket has integrated bitcoin as a payment option within the app, meaning that people can purchase their Powerball tickets using the cryptocurrency. On Wednesday, the app announced its bitcoin addition, which garnered a lot of attention for the coin, as the Powerball Jackpot also reached a record high on the same day.
Related Link:UPDATE: Winning Powerball Tickets Sold In California, Florida, Tennessee --ABC News
Bullish On Bitcoin
For Jackpocket, the move was a great way to reach another demographic of lottery players and represents the company's faith in bitcoin's success. Jackpocket CEO Peter Sullivanannouncedthe decision to incorporate bitcoin into the app saying that he and his team are "very bullish on cryptocurrencies and the blockchain in general."
Speedy Transactions
Not only will bitcoin add to Jackpocket's pool of potential users, but Sullivan says he hopes it will help speed up transaction times and reduce glitches. Heavy volumes of users trying to buy tickets have been hindered by regulations, according to Sullivan, and those issues have strained the app's relationship with credit card processors and banks.
Related Link:No Luck On Winning Powerball? Learn The Skill Of Trading
More Customers
It remains to be seen whether many Jackpocket users will use the bitcoin payment option, but Sullivan is hoping it will attract more affluent customers who have experience with technology, a group he says is likely to buy more tickets.
Image Credit: Public Domain
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© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Forty big banks test blockchain-based bond trading system: By Jemima Kelly LONDON, March 3 (Reuters) - Forty of the world's biggest banks, including HSBC and Citi, have tested a system for trading fixed income using the technology that underpins bitcoin, fintech company R3 CEV said on Thursday. The banks are part of a consortium of 42 major lenders, brought together last year by New York-based R3 CEV to work on ways blockchain technology could be used in financial markets - the first time so many have collaborated on using such systems. A blockchain is a huge, decentralised ledger of transactions that can be used to secure and validate any exchange of data, including real assets, such as commodities or currencies. Bitcoin's blockchain was the first, but others have since been built that offer additional features and can be programmed. That means the technology can enable so-called smart contracts: agreements that are automatically executed when pre-determined conditions are met. For this experiment, the banks tried five different blockchain-technology providers to test trading fixed income: Ethereum, often considered the most advanced and ambitious, Chain, Eris Industries, IBM and Intel. "We have raised the bar significantly with the sheer number of global financial institutions, distributed ledger technologies and cloud providers working together ... to demonstrate how this nascent technology can be applied to ... an actively traded asset class," said the head of R3's Collaborative Lab, Tim Grant. Banks reckon the technology could save them money by cutting out middlemen and making their operations more transparent. But analysts say it is early days - bitcoin was invented just six years ago and developers are still working on the technology. Indeed, the G20's Financial Stability Board said on Saturday assessing the systemic implications of fintech innovations would form part of the task force's core policy work this year and global regulators could propose rules to prevent them from destabilising the broader financial system. Chain's CEO Adam Ludwin said: "R3 is further accelerating the adoption of blockchain technology by demonstrating, instead of simply asserting, the commercial advantages of this emerging approach to financial services." (Reporting by Jemima Kelly; Editing by Alison Williams) || How big banks are paying lip service to the blockchain: IBM has high hopes for blockchain technology. The IT giant announced on Tuesday a laundry list of plans to use blockchain tech and to help developers do the same. IBM ( IBM ) will offer tools through its cloud service for building blockchain apps, and it will open up IBM "Garages" in London, New York, Singapore and Tokyo for experts to collaborate with developers on blockchain tech. Taken in tandem with the recent flurry of banks and financial institutions expressing public interest in blockchain, the technology is having a moment. In September, a slew of banks including BBVA, Citi, Credit Suisse, JPMorgan, Royal Bank of Scotland, and UBS all joined a coalition, led by a firm called R3 , to implement blockchain technology in banking. In December, five more big names hopped on board, including BNP Paribas, ING, and Wells Fargo. But the great irony of the banks' interest in blockchain is that the idea of a blockchain for traditional banking defeats the purpose of the blockchain—at least as it has been used thus far, with the digital currency bitcoin. And top executives from some of the very same institutions that have signed on to R3 have separately disparaged bitcoin. To understand what it is that banks claim to want to do with blockchain, you first need to understand the bitcoin blockchain, which is a public, decentralized ledger that records every single bitcoin transaction. Think of it like a library card in the cloud (not the card you use to take out a book, but the slip inside a book that lists all the borrowers). If you send a friend $5 worth of bitcoin, the transaction goes on the blockchain. If one bitcoin startup acquires another bitcoin startup for $500,000 in bitcoin, that, too, goes on the blockchain. And you can view the blockchain in real time, as transactions are uploaded, at blockchain.info . Transactions are added in bundles, called "blocks," by "miners," who receive a tiny fee in bitcoin as an incentive to mine. Miners use large, expensive computers to find and mine the blocks. The excitement of the bitcoin blockchain, to people in the digital currency world, is the potential for decentralized applications to be built on top of it that cut out the middle man. And the blockchain can be used to store and send anything of value, so there are companies using it to store documents like property deeds and even marriage licenses. And now: Enter the banks. They've long stayed away from bitcoin, which has a toxic public image thanks to headlines about bitcoin being used in embezzlement and Ponzi schemes. (Think of Mt. Gox and Silk Road .) MasterCard CEO Ajay Banga said he believes bitcoin "starts bumping up against societal rules, which I worry about," and that, "it doesn’t give me the safety and security of knowing that I am who I am, and I’m paying who I know, which is what traditional currency does." And yet, MasterCard ( MA ) invested in Digital Currency Group, a venture firm that has itself invested in 65 different bitcoin and blockchain-enabled businesses. JPMorgan CEO Jamie Dimon said bitcoin "is going nowhere... There is nothing behind a bitcoin, and I think if it was big, the governments would stop it." And yet, JPMorgan ( JPM ) has signed on with R3. Story continues Forget bitcoin, embrace blockchain Bitcoin is doomed, if you ask Dimon. But the blockchain—now that's exciting. As Dimon said on CNBC last month, "The blockchain is a technology, which we’ve been studying... and yes, it’s real. If it proves to be cheap and secure it will be adopted for a whole bunch of stuff." Translation: Blockchain is hot, bitcoin is not. We are seeing this sentiment again and again. IBM, in its extensive press release this week about its blockchain efforts, does not use the word "bitcoin" once. Bitreserve, a cloud banking vault launched by CNET founder Halsey Minor and led by former Barclays CIO Anthony Watson , was so eager to shed the stink of bitcoin that it changed its name to Uphold. Blockchain "is so hot right now," writes Erik Voorhees , the CEO of bitcoin startup Shapeshift, while bitcoin "has been left by the wayside, ignored like an embarrassing relative at a family gathering.” (And yet the price of bitcoin is up 24% in the last six months, 85% in the last six.) What will using blockchain tech even look like for banks? R3's web site says its mission is "building and empowering the next generation of global financial services technology." That's pretty vague. David Rutter, CEO of R3 and a former executive at London-based electronic brokerage ICAP, has said R3 will help banks and financial firms use the "fabric" of blockchain technology. You might think that people in the bitcoin world are pleased to see big, incumbent financial institutions embracing the underlying technology behind the leading cryptocurrency. They are not. Most of them see the banks' stated interest as empty lip service so far. What most people believe the banks want to do is employ something like the blockchain in their record-keeping processes: record customer deposits and withdrawals on a blockchain as opposed to whatever (likely outdated) software they currently use. Sounds simple enough. But it would have to be a closed ledger, accessible only to customers of the banks. And therein lies the contradiction: the bitcoin blockchain is public and open-sourced; nothing about it is closed. "I can see why banks are interested in using permissioned ledgers, and maybe it will make their back office more efficient," says Jerry Brito, executive director of digital currency nonprofit Coin Center. "But at the end of the day, it's not a very exciting innovation. The real innovation is a completely open and global ledger that is permission-less. Having a closed, permissioned ledger run by banks, that might allow for better auditing, but there’s no innovation there, you still have to go through a consortium to use the ledger." That is, what banks seem to want to do is incongruous to the purpose of the blockchain. Digital Currency Group's Barry Silbert, who founded SecondMarket, which allowed for the trading of stocks in non-public companies, is similarly dubious of the "blockchain for banking" theme. "I’ve spoken quite publicly about my skepticism around the private blockchain approach," he tells Yahoo Finance. If R3 doesn't yield innovative fruit, then why are banks rushing to join up? For starters, as a PR effort: once a few were involved, the others looked stodgy by delaying. But Brito also believes the interest will subside once banks actually learn more about blockchain technology. " I think right now investors are kind of waiting for Wall Street to get through this blockchain phase," he says. "They have blockchain fever and they need to just get over it. Because if they develop their own closed blockchains, soon they’ll all realize they want to talk to each other, and they’ll be back to square one, doing banking." The bitcoin blockchain is open, global and permissionless. It has potential to serve as the backbone for additional exciting applications. If traditional banks want to employ it in their way, by acting as gatekeepers, it defeats the purpose. But don't expect that to dampen their public expressions of interest just yet. This is the first in a three-part Yahoo Finance series about blockchain technology. The second part is about how you can invest in the blockchain; the third part is about the biggest names in the industry. -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Read more: Bitcoin advocacy group scores funding from biggest names in industry Bitcoin industry consolidates: Why Kraken bought Coinsetter Bitcoin's biggest investor bought its biggest news site Here's a sign that PayPal is embracing Bitcoin View comments || Iceland's Genesis launches first bitcoin mining fund: NEW YORK (Reuters) - Genesis Mining, which provides computer equipment to create bitcoins in the cloud, on Thursday launched the world's first fund that invests in hardware used to create the digital currency. Bitcoins are created through a "mining" process involving computer algorithms on equipment owned or rented out by companies such as Iceland-based Genesis. Bitcoins, which are worth more than $400 each, can be purchased from trading exchanges such as BitStamp and Kraken. The Logos Fund was registered with the U.S. Securities and Exchange Commission last week, Genesis said in a statement. The fund will issue "pooled investment fund interests" to investors in an offering expected to last more than a year. Genesis will initially seed the fund with $1 million of its own capital, co-founder and Chief Executive Marco Streng said, adding that investors have expressed an interest in putting in $100 million. The mininum investment for the fund is $25,000. "The fund would be clearly focused on bitcoin mining, but we can also purchase bitcoins directly from the exchanges," said Streng said in an interview. Streng cited strong investor interest despite challenges facing the sector, whose profits have been pressured by growing competition. More than $1 billion has been invested in bitcoin-related startups since 2013. Bitcoin on Thursday traded at $416.01 on the BitStamp platform, down 1.8 percent. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Richard Chang) || Here's how you can invest in the blockchain: As big banks and other financial institutions continue to feel the love for blockchain technology, many of our readers have wondered how they can get in. Can a private, non-institutional investor somehow invest in the blockchain? Answering the question requires a distinction between the b itcoin blockchain and the broader, non-bitcoin idea of blockchain technology. Think of the bitcoin blockchain as a public ledger in the cloud, not unlike a library book slip (see the above video for more). It shows every transaction made with the digital currency bitcoin; the transactions are added in bundles called "blocks," by "miners" who receive a small fee in bitcoin as incentive to add the data. (You can view that happening in-real time.) The bitcoin blockchain is public, open-source and permissionless. What banks want to build is a private, closed blockchain, sans bitcoin, sans miners, to process their own transactions. The appeal is that it would make their systems faster and more efficient (most big banks are using old, outdated software for their record-keeping), as well as reduce friction and transfer delays. The bitcoin community is skeptical about the effort. " Having a closed, permissioned ledger run by banks might allow for better auditing, but there’s no innovation there," says Jerry Brito, executive director of the nonprofit Coin Center, which has raised funding from the biggest names in bitcoin. "You still have to go through a consortium to use the ledger." Indeed, 45 banks, including heavy-hitters like Citi, Credit Suisse, and JPMorgan, have jumped on board with a consortium, called R3 , to test out blockchain technology. JPMorgan, eager to come out to an early lead in the blockchain race, announced last month it has been testing its own blockchain with 2,200 customers. In addition to banks trying to build their own blockchains, fintech startups like itBit are offering their own non-bitcoin blockchains to financial customers. The blockchain product itBit offers is called Bankchain. "Bitcoin is a public, anonymous use case of blockchain technology," says itBit COO Andrew Chang. "Many financial institutions don't want to use the bitcoin blockchain because it’s an anonymous network and they're not okay with that." Story continues Whether the strategy will even bear fruit is unclear, but as Alex Kwiatkowski of financial software firm Misys says, " No one wants to be the one financial company that didn’t invest in blockchain. It feels like California in the Gold Rush -- those making an early claim think they’ll get the most gold. But it’s just an efficiency improvement. There’s going to be some value there, they just need to unlock what it is without promising too much." As banks and other big corporations continue to claim interest in blockchain, the idealogical divide between that side and the bitcoin side will only widen. Dan Conner, who is building a distributed ledger called DisLedger, aptly explains why: " If you’re a bitcoin fanboy and you’re a crypto-anarchist, that’s fine. But those people don’t tend to run in the same circles as banks." Conner predicts that even the term "blockchain" will go out of fashion for Wall Street the way "bitcoin" has, because there are inherent weaknesses in a blockchain. For now, clearly, the big banks are big believers in blockchain—or at least, they say they are. If you, a regular investor (and Yahoo Finance reader), are also a believer, is there a way to invest in blockchain technology? The short answer is: not directly. But there are three roundabout ways you could invest in the bitcoin blockchain or the broader, Wall Street concept of blockchain. If you believe in the strength of the bitcoin blockchain, the best way to invest is to buy bitcoin. Whether you want to do that for price-speculation purposes or simply out of curiosity to own a nascent asset class, there are myriad ways to obtain some easily, from exchanges like Coinbase, Circle, Bitstamp or Kraken, which has expanded in the U.S. recently through acquisitions . A second would be to buy stock in the banks that have joined up with R3, such as BBVA ( BBVA ), BNP Paribas ( BNP.PA ), Citi ( C ), Credit Suisse ( CS ), ING Group ( ING ), JPMorgan ( JPM ), Royal Bank of Scotland ( RBS ), UBS ( UBS ), and Wells Fargo ( WFC ). Of course, for bitcoin true believers, buying bank stocks would defeat the purpose of a cryptocurrency designed to avoid traditional banks. Or you could buy shares in the Bitcoin Investment Trust ( GBTC ), which passively holds bitcoin to track the price (it's similar to the GLD gold trust) and began trading publicly over the counter last year. The trust was launched by Barry Silbert of the Digital Currency Group, which has invested in 75 bitcoin and non-bitcoin blockchain startups, and recently bought the news site CoinDesk . "We started the Trust," Silbert says, "as an easy way for casual investors to get exposure to the price of bitcoin without having to figure out where do you buy it, what price do you pay, and how do you store it. This is one easy way to play in the bitcoin/blockchain industry." The trust is up 20% since it began trading last May. And bitcoin itself is up 81% in the same time period. This is the second in a three-part Yahoo Finance series about blockchain technology. The first part was about why big banks are expressing interest in the blockchain; the third part is about the biggest names in the industry. -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Read more: Bitcoin advocacy group scores funding from biggest names in industry Bitcoin industry consolidates: Why Kraken bought Coinsetter Bitcoin's biggest investor bought its biggest news site Here's a sign that PayPal is embracing Bitcoin || Sprott Out At Namesake Gold Fund As Price Collapse Takes Toll: With gold's decline, an entire precious metals industry is in peril. And Eric Sprott's just the canary in the gold mine.
[This article first appeared onIndexUniverse.comand is republished here with permission.]
For those of you who regularly read my stuff, you know I love to write about charts and numbers and all sorts of nerd-ery. In this blog, I'm only going to use a single chart. If you're a gold investor, you know which chart I'm talking about:
Chart courtesy ofStockCharts.com
This is the nightmare chart for gold investors. The price of gold has collapsed from all-time highs of slightly more than $1,900 an ounce in fall of 2011 to near $1,235 today.
Just this year, gold investors, a lot of them investing through ETFs like the SPDR Gold Trust (GLD | A-100), are down almost 27 percent, while investors in the SPDR S&P 500 Trust (SPY | A-98) are up 27 percent. You don't need to be a math whiz to recognize that this has been a terrible, terrible year for anyone who made a big rotation out of equities in the last few years and into the shiny stuff.
And while it's easy to kick people when they are down, here's the thing: It's not just gold investors who got hammered. It's an entire industry that's been built on the back of the gold rally.
Consider GLD all by itself for a moment. GLD's peak NAV in August last year was $184.59. On that day, there were 424 million shares outstanding, for net assets of more than $78 billion, with an implied annual fee due of $313 million a year.
Today assets stand at just $33 billion—well under half their peak, with an implied fee base of $131 million a year. That's nearly $200 million that's leaving the GLD management ecosystem.
I'm not expecting anyone to feel sorry for the poor ETF issuer here (State Street and the World Gold Council). Rather, I'm pointing out that decline in gold has made for some rather dramatic shifts in the investment economy.
Consider Eric Sprott. I firstcame to knowof Sprott when his Physical Gold Trust launched in 2010—right in the froth of the run-up—and it was being called an "ETF" by various media sources (it's not; it's a closed-end fund). At the time, I ripped it apart for tax issues, poor marketing and various other shortcomings.
That's nothing to the savaging Sprott received at the hands of one of the smartest bloggers on the Web, Kid Dynamite. Kid Dynamite has made akind of sportout of watching how Sprott's closed-end funds magically become un-closed and issue new shares when they trade to large premiums.
Nothing wrong there, other than the fact that the big recipient of those nonpremium shares tended to be other Sprott funds,who could then sell them for the premium price. Nice work if you can get it.
But while the various shenanigans may have worked on the way up, they've brutalized the company—and Eric Sprott—on the way down. Take their flagship closed-end gold fund, PHYS. It launched on Feb. 26, 2010. GLD investors are up 9.09 percent since then. PHYS investors are up 6.36 percent. I don't knowhowyou leave 1 percent a year on the table when your only job is to buy gold and stick it in a vault, but there you have it.
The good news (if you're actually in one of Sprott's many funds) is that Sprott himself has gotten the ax, as noted by the extraordinarily unkind headline at Business Insider this morning: "One Of The Most Famous Gold Bug Fund Managers Has Gotten Obliterated." The Wall St. Journal article is a bit more professional—"Gold Drop Is Blow to Prominent Hedge-Fund Manager Sprott"—but makes hay out of the fact that his namesake hedge fund is down 50 percent in 2013. That takes work.
In the end, Sprott's getting the boot, and being replaced by new management.
There's a whole lot of that going on in gold circles: people getting the boot and making way for turnaround specialists to come in and clean up business. The gold miner industry is awash in panic: The bellwether ETF in the space, the Market Vectors Gold Miners fund (GDX | A-54), is down 66.4 percent since gold's peak in 2011, and down 54.49 percent just in 2013.
That collapse is driven by very real work being done in the gold miner space to deal with the collapsing gold prices. Anglo American, for instance, brought in a new CEO to help make huge cuts, effect write-downs and position the company for a longer-term business.
In some sense, that's all healthier than bubble economics. But that's small solace to any investor who's actually ridden Anglo American, PHYS, GDX or GLD to the ground these past few years.
Of course, the question any rational investor should ask is, What's next? And that's where it becomes very difficult to read the news. In most rational sectors of the global economy, analysts are analysts.
You read the reports from agricultural experts or retail-stock experts, and they generally call things as they see them. In the precious metals space, nearly every article you get off any kind of Google search will always be telling you why "Now is the time!"
It's important to remember that gold—and the entire gold investment economy—is unique. Gold, by itself, is useless and valueless. It has value only because it's scarce, and then only because enough people believe its scarcity can make it a useful medium of representing value and making transactions. Gold is, essentially, an idea that people assign value to. Lots of folks believe? It goes up. Crisis of faith? It tanks.
Which makes it surprisingly similar to that other highly volatile source of questionable stored-value: Bitcoin.
Maybe that's where Sprott's next adventure will take him. I'll be camped firmly on the sidelines with a bowl of popcorn.
At the time this article was written, the author held no positions in the securities mentioned. Contact Dave Nadig [email protected].
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Permalink| © Copyright 2016ETF.com.All rights reserved || C&W Networks Selects Xtera for Upgrading Its Multiple Submarine Cable Systems to 100G Technology: MIAMI, FL and DALLAS, TX--(Marketwired - Jan 26, 2016) -C&W Networks, part ofCable & Wireless Communications(CWC), the largest telecommunications service provider across the Caribbean, Central America, Mexico and United States with more than 48,000 miles of subsea fiber-optic network has selectedXtera Communications, Inc. (NASDAQ:XCOM), a leading provider of high-capacity, cost-effective optical transport solutions, for upgrading its submarine cable systems in the western Atlantic ocean and the Caribbean Sea to 100G. By introducing Xtera's 100G coherent solution, C&W Networks continues to offer robust services across 42 countries with superior reliability and scalability of international wholesale capacity.
C&W Networks has bolstered its subsea network capacity by upgrading several unrepeatered and repeatered segments to 100G, using Xtera's Nu-Wave Optima™ multi-purpose optical networking platform. The submarine cable systems were upgraded with new 100G channels to include the 1,570 km Gemini - Bermuda cable system, the 1,700 km Caribbean - US (CBUS) cable system, the 1,700 km East West Cable (EWC) system, the 1,440 km festoon Eastern Caribbean Fiber System (ECFS), and part of the 8,700 km ARCOS-1 submarine ring.
"The global build-out of data centers, coupled with rapid deployment of cloud-based services, are driving renewed demand for even higher fixed and burst rate connections with emphasis on high availability through redundancy," said Paul Scott, President of C&W Networks. "Our goal is to proactively prepare our networks with the right technology to efficiently address the evolving business needs of today and the future. We are very excited to enhance our network performance to100G and 100G+ and Xtera was a natural choice for us."
The same optical networking platform was used over the unrepeatered and repeatered segments, enabling a unified, seamless network from an operational perspective. For the upgrade of unrepeatered segments, advanced 100G optical channel technology combined with Xtera's Wise Raman™ solution raised the capacity to multi terabits per second level even on the longest unrepeatered segments (approaching 400 km spans). This combination of technologies also enabled C&W Networks to bypass some intermediate sites when no local add/drop of 100G waves was needed, eliminating the need for back-to-back terminal equipment as found in the previous network design based on 10G optical channel technology.
"Strengthening our relationship with C&W Networks, these new upgrade projects are further evidence of the confidence network operators place in Xtera's capabilities to improve subsea optical transmission infrastructure already deployed across the world," said Jon Hopper, President and Chief Executive Officer of Xtera. "Upgrading existing subsea cable systems to increase their capacity and extend their lifetime -- from a capacity-cost perspective -- is part of our subsea solution portfolio, which includes subsea cable recovery and re-lay, and as well as new build."
About C&W NetworksC&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 Cable & Wireless 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 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 7,200 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, please visit:www.cwc.com.
About Xtera Communications, Inc.Xtera Communications, Inc. (NASDAQ:XCOM) is a leading provider of high-capacity, cost-effective optical transport solutions, supporting the high growth in global demand for bandwidth. Xtera sells solutions to telecommunications service providers, content service providers, enterprises and government entities worldwide. Xtera's proprietary Wise Raman™ optical amplification technology leads to capacity and reach performance advantages over competitive products. Xtera's solutions enable cost-effective capacity to meet customers' bandwidth requirements of today and to support their increasing bandwidth demand fueled by the development of data centers and related cloud-based services.
For more information, visitwww.xtera.com, [email protected] connect viaLinkedIn,Twitter,FacebookandYouTube. || C&W Networks Selects Xtera for Upgrading Its Multiple Submarine Cable Systems to 100G Technology: MIAMI, FL and DALLAS, TX--(Marketwired - Jan 26, 2016) - C&W Networks , part of Cable & Wireless Communications (CWC), the largest telecommunications service provider across the Caribbean, Central America, Mexico and United States with more than 48,000 miles of subsea fiber-optic network has selected Xtera Communications, Inc . ( NASDAQ : XCOM ), a leading provider of high-capacity, cost-effective optical transport solutions, for upgrading its submarine cable systems in the western Atlantic ocean and the Caribbean Sea to 100G. By introducing Xtera's 100G coherent solution, C&W Networks continues to offer robust services across 42 countries with superior reliability and scalability of international wholesale capacity. C&W Networks has bolstered its subsea network capacity by upgrading several unrepeatered and repeatered segments to 100G, using Xtera's Nu-Wave Optima™ multi-purpose optical networking platform. The submarine cable systems were upgraded with new 100G channels to include the 1,570 km Gemini - Bermuda cable system, the 1,700 km Caribbean - US (CBUS) cable system, the 1,700 km East West Cable (EWC) system, the 1,440 km festoon Eastern Caribbean Fiber System (ECFS), and part of the 8,700 km ARCOS-1 submarine ring. "The global build-out of data centers, coupled with rapid deployment of cloud-based services, are driving renewed demand for even higher fixed and burst rate connections with emphasis on high availability through redundancy," said Paul Scott, President of C&W Networks. "Our goal is to proactively prepare our networks with the right technology to efficiently address the evolving business needs of today and the future. We are very excited to enhance our network performance to100G and 100G+ and Xtera was a natural choice for us." The same optical networking platform was used over the unrepeatered and repeatered segments, enabling a unified, seamless network from an operational perspective. For the upgrade of unrepeatered segments, advanced 100G optical channel technology combined with Xtera's Wise Raman™ solution raised the capacity to multi terabits per second level even on the longest unrepeatered segments (approaching 400 km spans). This combination of technologies also enabled C&W Networks to bypass some intermediate sites when no local add/drop of 100G waves was needed, eliminating the need for back-to-back terminal equipment as found in the previous network design based on 10G optical channel technology. "Strengthening our relationship with C&W Networks, these new upgrade projects are further evidence of the confidence network operators place in Xtera's capabilities to improve subsea optical transmission infrastructure already deployed across the world," said Jon Hopper, President and Chief Executive Officer of Xtera. "Upgrading existing subsea cable systems to increase their capacity and extend their lifetime -- from a capacity-cost perspective -- is part of our subsea solution portfolio, which includes subsea cable recovery and re-lay, and as well as new build." Story continues 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 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 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 7,200 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, please visit: www.cwc.com . About Xtera Communications, Inc. Xtera Communications, Inc. ( NASDAQ : XCOM ) is a leading provider of high-capacity, cost-effective optical transport solutions, supporting the high growth in global demand for bandwidth. Xtera sells solutions to telecommunications service providers, content service providers, enterprises and government entities worldwide. Xtera's proprietary Wise Raman™ optical amplification technology leads to capacity and reach performance advantages over competitive products. Xtera's solutions enable cost-effective capacity to meet customers' bandwidth requirements of today and to support their increasing bandwidth demand fueled by the development of data centers and related cloud-based services. For more information, visit www.xtera.com , contact [email protected] or connect via LinkedIn , Twitter , Facebook and YouTube . View comments
[Random Sample of Social Media Buzz (last 60 days)]
DavicomTopo : The easiest way to get Bitcoin - http://ift.tt/1KOvXQt || Liquid Bitcoin || Liquid Bitcoin || Liquid Bitcoin || $394.22 at 01:45 UTC [24h Range: $391.27 - $397.00 Volume: 4464 BTC] via #btcusdpic.twitter.com/qEvOdWMsLn || Liquid Bitcoin || LIVE: Profit = $132.76 (7.15 %). BUY B4.81 @ $410.00 (#VirCurex). SELL @ $414.03 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || Bitcoin Ransomware Targets LA County Health Department - http://abitco.in/bitcoin-ransomware-targets-la-county-health-department/ …pic.twitter.com/B2xthWz4Eh || 1 MUE Price: Bittrex 0.00000046 BTC YoBit 0.00000036 BTC Bleutrade 0.00000045 BTC #MUE #MUEprice 2016-03-05 00:00 pic.twitter.com/GL2DJ6fiWA || Liquid Bitcoin
|
Trend: no change || Prices: 414.07, 416.44, 416.83, 417.01, 420.62, 409.55, 410.44, 413.76, 413.31, 418.09
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-06-06]
BTC Price: 7822.02, BTC RSI: 50.50
Gold Price: 1337.60, Gold RSI: 73.51
Oil Price: 52.59, Oil RSI: 26.44
[Random Sample of News (last 60 days)]
Bitcoin Flat; Traders Eye $10,000 Test: Investing.com -- Bitcoin was flat on Tuesday, a day after surging to a more than 12-month high, swinging between small gains and losses, though expectations remained that a test of the key $10,000 level is within reach.
Bitcoin rose 1.16% to $8,880 after hitting a high of $8,902 on Monday.
The choppy moves in bitcoin come after wave of new inflows over the weekend saw the popular crypto mount a successful break of $8,000 after several attempts, with many now watching for a test of the psychological $10,000 level.
Bitcoin's market cap, often used to gauge demand, rose to $153 billion from around $142 billion just prior to the surge seen on Sunday.
Many expect the $10,000 level, however, to act as resistance and keep a lid on the rally. But there are those who have not shied away from suggesting the popular crypto could burst past $10,000 as early as this week or next.
With bitcoin trading above its 50-, 100- and 200-day moving averages, the popular crypto Bitcoin is likely to move past $10,000 this week or next, said Naeem Aslam, chief market strategist at ThinkMarkets, according to MarketWatch.
"The moving averages are very important because they define the trend; if the price stays above them, it shows that the uptrend is strong and when it starts to trade below them, then it means a downtrend," Aslam said.
Bitcoin's creep higher triggered likewise action in other cryptocurrenies, with XRP/USD up 9.77% to $0.45390, ETH/USD up 3.26% to $274.65 and LTC/USD adding 1.67% to $115.4.
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Kik Launches $5 Million Crypto Funding Campaign for Lawsuit Against US SEC || IBM’s $1 Million Bitcoin Bull Mysteriously Exits Tech Giant as Global Blockchain Lead: IBM's global head of blockchain and digital payments, is no longer at the tech giant. | Source: Youtube/Blockchain/Shutterstock; Edited by CCN By CCN : IBM’s head of blockchain Jesse Lund has reportedly left the company. Lund previously predicted the Bitcoin price could hit $1 million within our lifetime, citing the scarcity and growth of interest in the space. Jesse Lund’s Still Optimistic about Blockchain Payments Lund told Coindesk that he is “still optimistic” about blockchain as a payments platform. He helped create the IBM World Wire platform in partnership with Stellar, which has so far made numerous in-roads with notable banks . He stated: “Yes, I’ve left IBM but am still optimistic about payments innovation using Blockchain.” IBM is one of many companies working on cross-border payment solutions for banks and financial institutions. Lund had previously been part of R3 , a consortium of banks like Wells Fargo (where he was previously employed), which picked up Mike Hearn after he quit Bitcoin development. Lund or IBM gave no explanation for his exit. Bitcoin has recently been bullish. Interest in blockchain is returning. Read the full story on CCN.com . || QuadrigaCX Starts Bankruptcy Proceedings: QuadrigaCX It’s been a long and winding road with many twists and turns for the beleaguered cryptocurrency exchange QuadrigaCX and its 115,000 former users who are owed roughly $190 million. On April 8, 2019, the case reached a critical fork in the road as a court, recognizing that attempts to restructure the exchange have failed, appointed business services firm Ernst & Young as the exchange’s Trustee in Bankruptcy to watch over bankruptcy proceedings. It will also assume control of all of QuadrigaCX’s assets. Ernst & Young Takes Control With QuadrigaCX moving into bankruptcy, it appears that Ernst & Young now becomes the dominant player in this ongoing drama as previously appointed Chief Restructuring Officer Grant Thornton will no longer be involved. “EY will continue its investigation, but once it is the trustee, it will have greater powers to do so,” attorney Evan Thomas of Osler, Hoskin & Harcourt told Bitcoin Magazine . “This includes the power to examine people who have relevant information under oath.” Critically, Ernst & Young will also have the ability to seize the exchange’s assets. “The trustee can also sell QuadrigaCX's assets and start lawsuits to recover property or damages,” Thomas said. “The trustee will collect whatever it can recover for eventual distribution to creditors.” The next step is a meeting of creditors who will elect a Board of Inspectors to oversee the work of Ernst & Young and grant permission to take actions such as selling its remaining assets. It is likely, noted Thomas, that some of the same users elected to the Users Committee — a group of seven former QuadrigaCX customers who have been representing the 115,000 left stranded by the exchange — will be elected as these inspectors. Jennifer Robertson’s Assets Are Frozen Ernst & Young asked the court for and was granted an “asset preservation” order, meaning that all assets held by Jennifer Robertson, the wife of late CEO Gerald Cotten, and the Cotten estate are frozen. Story continues The preservation order prohibits Robertson from selling, removing or transferring any assets. However, it allows her to cover her legal and living expenses by granting her access to two bank accounts overseen by Ernst & Young. A source close to the case said it appeared that Robertson continues to retain the law firm Stewart McKelvey to represent her and the Cotten estate, despite earlier reports that said the firm was withdrawing its counsel. What’s Next? “There will be a claims process for creditors to file claims for consideration by the trustee,” said Thomas. “Eventually, whatever money or other property that is recovered by the trustee will be distributed to creditors with valid claims.” The Companies’ Creditors Arrangement Case (CCAA) will continue temporarily while QuadrigaCX transitions to bankruptcy. Ernst & Young has said that it will be filing at least one more monitor's report. The CCAA will eventually terminate and court proceedings will continue under Canadian bankruptcy law. For a detailed overview of the QuadrigaCX story, read “ QuadrigaCX and the Million Dollar Questions: What We Do and Don’t Know.” This article originally appeared on Bitcoin Magazine . || Above $6,000: Bitcoin’s Price Spikes to 6-Month High: Bitcoin’s price rose above $6,000 on most cryptocurrency exchanges for the first time today in nearly six months.
At 00:57 UTC on Thursday, the world’s largest cryptocurrency by market capitalization, which accounts for more than half of all other cryptocurrencies combined, picked up a bid and saw its price reach as high as $6,076 – its highest price since Nov. 14, 2018.
At the time of writing, bitcoin’s surge has slightly cooled off, now trading across exchanges at an average price of $6,045, according toCoinDesk’s price data.
Children of the Crypto Revolution – Join Us!
In another first since last November, bitcoin’s market capitalization rose above $100 billion, $1.45 billion or 1.39 percent of which entered the market in the last 24 hours.
Further still, bitcoin’s dominance rate, a measure of its market share versus that of other cryptocurrencies, hit its highest point in nearly eight months at 56.8 percent – its biggest reading since Sept. 13, 2018, based ondatafrom CoinMarketCap.
According to data fromMessari.io, bitcoin’s total trading volume across exchanges today exceeded $15.5 billion, yet its “Real 10” volume – a metric that takes into account trading volume from the only 10 exchanges reporting honest volume figures as identified in areportby Bitwise Asset Management – reveals a seemingly more accurate 24-hour volume figure may be closer to $502 million.
Bitcoin Price Retreats But Bull Case Intact Above $5.7K
When bitcoin’s price moves emphatically in a particular direction, the U.S. dollar value of most other cryptocurrencies tends to follow suit, and the developments today were no exception.
Other highly ranked cryptos in terms of market cap like Ether (ETH), EOS (EOS), and Cardano (ADA) are all reporting 24-hour gains above two percent, while bitcoin is leading the top 10 cryptocurrencies, currently boasting an increase of 3.64 percent.
Overall the total capitalization of the cryptocurrency market increased roughly by $5.4 billion during today’s rally to where it now stands now at a value of $189.1 billion. Indeed, the value of the broader market is making substantial progress in recouping the losses endured throughout 2018, but is still down 78.1 percent from its all-time high of $835 billion recorded on January 7, 2018.
Disclosure:The author holds no cryptocurrency at the time of writing.
Bitcoin imageviaShutterstock
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• Bitcoin Price Eyes Break Above $6,000 Ahead of New York Blockchain Week || BTC/USD Calm After A Stormy Night: • Bitcoin broke past the resistance at $8,900 and even briefly stepped above $9,000.
• A building bullish momentum above $8,300 has $8,400 in its focus.
BTC/USD currently hovers above $8,300 following a devastating plunge on Thursday evening (GMT) session. As predicted in the market updated yesterday,Bitcoinbroke past the resistance at $8,900 and even briefly stepped above $9,000 where it formed a high at $9,090.94. However, the move might have been too ambitious for the largest cryptocurrency and remained unsupported, in turn, giving way for bears to enter and push for revenge. Or, it could have been traders taking profits in order to create fresh demand at a lower price.
Either way, the price plunged massively below a couple of key support levels at $8,600 and $8,400. BTC/USD extended the losses dropping under $8,100. Fortunately, the bulls re-emerged just above $8,000 stopping further declines. Bitcoin has since corrected above the 23.6% Fib retracement level taken between the last swing high of $9,090.94 and a swing of $8,000.
Meanwhile, the building bullish momentum above $8,300 has $8,400 in its focus. The buyers are supported by the rising Relative Strength Index (RSI) at 42.42. The indicator had explored the oversold region hitting levels around 25.00. Moreover, the Moving Average Convergence Divergence (MACD) is heading steadily upwards from lows around -124.44. The increasing divergence suggests that the bulls are gaining traction.
BTC/USD1-hour chart
Image sourced from Pixabay
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© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The Crypto Week – The Bulls Defy Gravity and the Doubters: What a week for the Bitcoin bulls… Bitcoin rallied by 10.66% on Saturday. Following on from a 2.82% gain from Friday, Bitcoin ended the day at $7,125.1. For the current week, Monday through Saturday, a 17.9% rally has taken Bitcoin to levels not seen since early September of last year. Bullish throughout the day on Saturday, Bitcoin rallied from an intraday low $6,438.7 to a late intraday high $7,279.0. Steering well clear of the major support levels, Bitcoin broke through the major resistance levels on the day. In spite of a late pullback, Bitcoin managed to avoid falling to sub-$7,000 levels and hold above the third major resistance level at $7,011.03. The Rest of the Pack, Across the rest of the top 10 cryptos, it’s been another mixed week. Leading the majors through to Saturday was Bitcoin Cash ABC. A 24.5% rally on Saturday gave Bitcoin Cash ABC a 22.4% gain for the current week. Alongside Bitcoin and Bitcoin Cash ABC were Litecoin and Ethereum, with current week gains of 18% and 19.4% respectively. Bucking the trend was Binance Coin, which tumbled by 12.9% through to the end of Saturday. Binance’s Launchpad platform was expected to compete with Ethereum for the ICO market. The gains in Ethereum have ultimately come at the expense of Binance Coin and we are likely to see the trend continue. Another coin that has lagged the broader market is Ripple’s XRP. In spite of team success in terms of adoption, there has been a lack of interest throughout much of the year. Ripple’s XRP continues to struggle at $0.33 levels to leave the extended bearish trend firmly intact. By market cap, Ethereum has put some significant distance between itself and number 3 ranked XRP. The question will be whether Bitcoin Cash ABC can knock Ripple’s XRP off its perch. There’s some way to go, but if the current trends persist, then it will only be a matter of time… At the other end of the table, in spite of the Binance Coin reversal, BNB remains at number 7 by market cap. The once market favorite Stellar’s Lumen is now on the cusp of falling out of the top 10. Tron’s TRX could move back into the top 10 if Stellar’s Lumen continues to struggle. Story continues On the news wires, the latest Bitcoin hack appears to have had very little influence, as the bulls take another bite. The Bitcoin gains have been attributed to next year’s halving event and a number of industry events kicking off next week. As for Bitcoin dominance, it’s now up at 58.7% with the total crypto market cap up to $215.47bn. 24-hour trading volumes have also surged, now up at $97.61bn… This Morning, At the time of writing, Bitcoin was up by 0.99% to $7,195.9. A relatively choppy start to the day saw Bitcoin fall from a morning high $7,224.9 to a low $6,950.1 before finding support. While Bitcoin left the major support and resistance levels untested, sub-$7.000 support was evident early. The move back through to $7,100 levels delivers a strong message to the broader market. Leading the way through the early hours were Bitcoin Cash ABC and Litecoin. The pair were up by 4.11% and by 2.96% respectively, at the time of writing. Elsewhere, Stellar’s Lumen and Ripple’s XRP continued to struggle, with intraday losses of 4.4% and 0.08% respectively. For the Day Ahead, The Bitcoin bulls will have set $7,400 as the next target for the recovery that has now extended from mid-December’s swing lo $3,215.2. A move back through to $7,250 levels would give the bulls a run at $7,400 levels later in the day. Bitcoin is looking to form a near-term bullish trend and a breakthrough the 62% FIB of $6,408 would do it… Any move northwards by Bitcoin would likely continue to support the broader market and Bitcoin Cash ABC and Litecoin in particular. Market laggards Ripple’s XRP and Stellar’s Lumen could lose more support should they fail to breakout from current levels. The pair have continued to struggle and there have been few signs of a shift in appetite for the duo. Get Into Cryptocurrency Trading Today This article was originally posted on FX Empire More From FXEMPIRE: Brent Crude Oil Price Update – Traders Respecting 200-Day Moving Average at $68.96 U.S Mortgages – Down Again as Trade War Jitters Test Risk Sentiment E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Taking Out 7657.75 Could Trigger Late Session Acceleration to Upside Gold Price Prediction – Gold Rises on Subdued CPI Reading The Week Ahead – Brexit, Economic Data and Trade in Focus Natural Gas Price Prediction – Natural Gas Rallies Breaking Out to Higher Levels || Craig Wright Dubs Binance a ‘Money-Laundering Bucketshop’, Calls John McAfee a Conman: Self-proclaimed 'bitcoin creator' Craig Wright has been talking again. | Source: YouTube/Coin Finder/AFP/Reuters; Edited by CCN A few weeks after Binance delisted the Bitcoin SV altcoin, self-proclaimed Satoshi Nakamoto, Craig Wright, has slammed the world’s largest crypto exchange calling it a ‘super bucket shop’. In an interview with Finde r, Wright accused Binance of engaging in wash trading and money laundering: You have things like CZ (Changpeng Zhao, Binance CEO) there and Binance which is super bucket shop which are basically money laundering organizations. They wash trades and money laundering. That’s how they make money. Additionally, Wright also alleged that the leading cryptocurrency exchange engages in market manipulation. Per the self-proclaimed Satoshi, Binance engages in pumping the prices of cryptocurrencies with ‘pre-announcement stuff’ before shorting. Wright estimates that they could make ‘a 100 times the sort of money that they have stolen’ from such activities. Man Suing to Shut Others up Equates BSV Delisting to Censorship Attempt Wright also explained that BSV’s delisting on some exchanges and the attacks on him were meant to quieten him. This was with a view of preventing him from exposing the ills in the cryptocurrency sector: This is why they don’t want me talking. They want to shut me up. Because this is a criminal organization. Read the full story on CCN.com . || Op Ed: How Many Wrongs Make a Wright?: Op Ed: How Many Wrongs Make a Wright? In other articles and on social media, some people have called into question Craig Wright's character on a personal level and tried to establish patterns of fraudulent business practices not specifically related to the matter at hand. While my research led me to examine these allegations, I decided to narrow the focus of this particular article on evidence solely as it relates to Wright's claims that he is Satoshi Nakamoto, the creator of Bitcoin. Craig S. Wright burst upon the Bitcoin scene in 2015 as a mysterious and controversial figure who claimed to be Satoshi Nakamoto, the pseudonymous creator of Bitcoin. I actually crossed paths with him on Twitter several times in 2014 (when he used the now-deleted handle @dr_craig_wright), but I found most of his tweets difficult to follow and I generally dismissed him. But not everyone did. Gavin Andresen after announcing that he was convinced that Craig Wright was Satoshi Nakamoto In 2017, I met Craig Wright in person at the Future of Bitcoin conference in Arnhem, Netherlands. He was much more personable when not standing on a stage with cameras pointed at him, though he still seemed pretty stubborn and tended to speak in ways that I found more confusing than enlightening. Screen Shot 2019-05-09 at 12.45.56 PM.png Over the years, I had assumed that Wright would discredit himself to the point that we no longer had to hear about him, but he has persisted. Most recently he has taken to legally threatening people who publicly proclaim that Wright is not Satoshi. But I posit that Satoshi Nakamoto no longer has any power over Bitcoin — the question of Satoshi’s true identity is but an irrelevant curiosity. I believe the relevant question is whether or not Wright is credible: After considering the evidence presented in this post, you can make a better-informed decision. The following represents much of the relevant information about Wright’s history with Bitcoin and its community that I could find, compiled into a format that will hopefully make for an easy reference. Story continues Satoshi Evidence and Lack Thereof Is it possible that Wright is somehow connected to Satoshi and the creation of Bitcoin? Well, it’s not a connection that’s (as yet) possible to disprove — and Wright appears to be counting on that. His latest response to questions about a lack of evidence for this connection is that he won’t bend to pressure to “disclose his financial records” and that key ownership does not prove anything. Supposedly his work should be sufficient proof. What we know and can prove is that: He has a documented history of questionable statements and activities. He has a history of appearing to exaggerate his academic credentials. He has made a multitude of technical errors in his writings that call his understanding of Bitcoin and internet technology into question. His writing style (according to text analysis) and demeanor do not appear to be the same as those of the Satoshi whose writings are archived here . Wright once said : “I am a lawyer and this [financial law] is my area of speciality,” whereas the real Satoshi , when asked about how a financial law applied to Bitcoin, said, “I am not a lawyer and I can’t possibly answer that.” Wright once said : “At no point have I said that Bitcoin is a cryptocurrency,” and yet Satoshi called Bitcoin a cryptocurrency on several occasions. Wright once said that he is an “academic coder” who has no idea about “real world coding” but Satoshi has said , “I’m better with code than with words though.” In 2008, just six months before the anonymous Satoshi Nakamoto appeared, Wright made a public post stating, “Anonymity is the shield of cowards, it is the cover used to defend their lies. My life is open and I have little care for my privacy.” In February 2011, he seemed unaware of Bitcoin at all, as he was thinking about starting a gold-backed payment system . In August 2011, he began to mention Bitcoin in his writings, but he called it “Bit Coin , whereas Satoshi didn’t use a space or capital C in emails or forum posts. There was one instance of “BitCoin” in the early codebase, but Satoshi himself later corrected the capitalization . He actively bought and traded coins on Mt. Gox in 2013 and 2014 . He once asked why you would use X s rather than zeros in a burn address. Satoshi Nakamoto invented the Base58 encoding scheme used for these addresses, which intentionally excludes numbers and letters that look similar, such as zero and the letter O . He once claimed that Bitcoin’s block size was set in the block header (it’s not). He once claimed that Satoshi chose the secp256k1 curve due to bi-linear pairing properties but Satoshi once said that “I didn't find anything to recommend a curve type so I just ... picked one.” In an interview with GQ , Wright claimed, "I haven’t moved [any bitcoins]. I have sent them to Hal Finney and Zooko and that was it. Full stop." But in 2009 Satoshi Nakamoto sent 82.51 BTC to developer Mike Hearn . He has thus far failed to provide simple cryptographic proof that he controls keys belonging to Satoshi after promising to do so . The cryptographic “proof” he did provide has been widely debunked by numerous experts including Patrick McKenzie , Dan Kaminsky and Robert Graham . Some of Wright’s supporters have claimed that all of the above are part of an elaborate ruse to throw us off the trail and that he was coerced into announcing his identity as Satoshi. What we can see from historical mailing list posts is that Wright was involved in the cypherpunk and infosec communities. As such, Wright is better positioned than most people to pose as a Satoshi candidate. But even as a member of these communities, he did not gain much of a positive reputation. Figure_54.original.png “I Am Satoshi”: Failed Claims Near the end of his “coming out” as Satoshi, Wright told BBC News that “I will come on camera once and I will never ever be on camera again, on any TV station or any media. Ever.” As you will see from the following documented evidence, Wright did not uphold this promise. Rather, he has remained in the spotlight, often insinuating that he created Bitcoin while avoiding (or failing) to actually prove it. Failure to Establish Key Ownership On May 3, 2016, Wright promised to spend some of Satoshi’s coins. He also published this (now-deleted) post on his blog, where he promised to show extraordinary proof that he was Satoshi. In “The Satoshi Affair” ( featured here in the London Review of Books ), writer Andrew O’Hagan describes the following events of May 4, 2016: A “new (and final) proof session was intended to blow away the doubts,” when Wright was supposed to send a Bitcoin transaction to Andresen and a BBC journalist: “Wright was worried about a security flaw in the early blockchain that would make it risky for him to move Bitcoin, exposing him to exploitation or theft. My sources later said Andresen understood the problem and confirmed it had been fixed. But Wright continued to worry and showed great reluctance about offering the final proof. Then he left the room abruptly and didn’t come back.” After this first failed attempt at cryptographically proving he had Satoshi’s keys, he apologized and made it seem as if he was finished. Lopp FIGURE_3.jpeg Source: http://archive.is/OxGhp Unconvincing Cryptographic Signatures In 2016, Wright wrote a lengthy blog post about how to verify cryptographic signatures, in which he pasted a signature without specifying the message that it verified. It didn’t take long before experts determined that the signature in question was one from this Bitcoin transaction rather than from one that signed some text of Jean-Paul Sartre. GitHub contributor Patrick McKenzie summarized the post well : “Wright’s post is flimflam and hokum which stands up to a few minutes of cursory scrutiny, and demonstrates a competent sysadmin’s level of familiarity with cryptographic tools, but ultimately demonstrates no non-public information about Satoshi.” Security researcher and blogger Dan Kaminsky explained why he believes the signature provided by Wright may be fraudulent: “ Wright is pretending he has Satoshi’s signature on Sartre’s writing. That would mean he has the private key, and is likely to be Satoshi. What he actually has is Satoshi’s signature on parts of the public Blockchain, which of course means he doesn’t need the private key and he doesn’t need to be Satoshi. He just needs to make you think Satoshi signed something else besides the Blockchain — like Sartre. He doesn’t publish Sartre. He publishes 14% of one document. He then shows you a hash that’s supposed to summarize the entire document. This is a lie. It’s a hash extracted from the Blockchain itself. ” In a Motherboard article titled “Craig Wright’s New Evidence That He Is Satoshi Nakamoto Is Useless,” writers Jordan Pearson and Lorenzo Franceschi-Bicchierai agreed, saying that “Wright simply reused an old signature from a bitcoin transaction performed in 2009 by Satoshi.” Altered Evidence? It looks as if sometime between 2014 and 2015 Wright could have gone back and altered an old 2008 blog post to make it appear he had been working on cryptocurrency in 2008. Lopp FIGURE_9.png Original (2014 snapshot) versus altered (2015 snapshot ) One of the pieces of evidence referenced by Wired and Gizmodo in their “outing” of Wright as Satoshi was Satoshi’s PGP key, but that ended up being debunked , as it was shown that the keys were backdated. Furthermore, a sleuth on Reddit claimed that according to registration information, a domain shown in one of Wright’s supposed emails to Kleiman — a key piece of “evidence” that Wright is Satoshi — was not purchased by Wright until January 23, 2009: 10 months after the date on the email. Lopp FIGURE_10.png These emails were sent to Gizmodo , which speculated that the leaker may very well have been Wright himself. More Debunked Cryptographic Signatures On November 3, 2018, someone asked a question on StackExchange about calculating the signature for the transaction in which Satoshi sent BTC to Hal Finney in block 170. Less than two weeks later, Bitcoin Cash underwent a contentious fork between the ABC and Satoshi Vision clients, the latter of which was backed by Wright and nChain. Within 24 hours of the fork, the Twitter @satoshi account, which had been posting Satoshi quotes and white paper excerpts for a number of months, started posting uncharacteristic tweets that sounded a lot like they came from Wright . One of these tweets (later deleted) was the calculation of a signature, but Bitcoin devs quickly explained why it was fraudulent : As Bitcoin developer Pieter Wuille noted , “ECDSA signatures where the message isn’t a hash and chosen by the ‘signer’ are insecure.” This time the signer just published “hash,” r, s tuples. The hash part of ECDSA is integral to the algorithm. If the verifier doesn’t run the hash themselves, the security properties don’t hold. Jimmy Song has written a detailed article explaining how easy it would have been for anyone, including Wright, to create worthless but believable signatures. In fact, a tool has been released that makes it easy for anyone to create signatures in exactly this fashion. The Altered Blacknet vs. Bitcoin White Papers In February 2019, Wright tweeted a claim that he had submitted a research paper in 2001 to the Australian government that had the exact same abstract as the Bitcoin white paper. However, there already was a white paper draft that had been disseminated prior to being publicly posted on the cypherpunks mailing list. This presumably backdated white paper looks like the final version rather than the draft, in that it includes all of the contributed corrections that would not have been made until seven years after the BlackNet paper of 2001. FIGURE_11 REDACTED.jpg Source: https://www.reddit.com/r/btc/comments/apc9c1/craig_wright_caught_lying_again/ The Case of Kleiman’s Questionable Bitcoins Though not directly linked to evidence of Wright’s claims that he is Satoshi, scrutiny of Wright’s interactions with computer forensics expert Dave Kleiman (who has also been rumored to be the real-life programmer behind Satoshi) offers some insight into his overall credibility and relationship with the truth. In 2018, relatives of Kleiman filed a lawsuit against Wright in U.S. federal court in Miami, represented by a prominent law firm. The lawsuit purports that Wright fraudulently acquired large numbers of bitcoin owned by Kleiman by forging various documents. However, there is evidence that the very existence of those bitcoins is highly questionable. In a live WizSec blog post dated February 27, 2018, Kim Nilsson demonstrated that many of these addresses can be accounted for and attributed to other people. One such address (16cou7Ht6WjTzuFyDBnht9hmvXytg6XdVT) that the author identified only as a “MtGox user” likely belongs to Roger Ver , and was used on Roger’s Bitcoinocracy site to “vote” in favor of various statements. In fact, the original version of the WizSec blog post attributed it to Ver before being changed to just say a “MtGox user.” Ver has been questioned about this address , but, as far as I can tell, he has never denied that it belongs to him. Wright vs Satoshi Sleep/Activity Schedules From examining the public timestamps on over 100 blog posts by Wright during the 2009 & 2010 time period and comparing them against over 800 public timestamps from emails, forum posts and code commits by Satoshi during the same period, we can gain some insight as to the sleep patterns of each. It’s pretty clear that Wright was generally inactive from 13:00 to 18:00 UTC while Satoshi was inactive from 7:00 to 12:00 UTC. As such, Wright appears to maintain a sleep schedule consistent with someone living in the AEST time zone (Australia) while Satoshi maintains a sleep schedule consistent with the EST time zone (North American east coast and part of South American west coast). While it’s possible that Wright was meticulously maintaining two separate schedules for each identity, Occam’s Razor suggests that the reason for the different patterns is probably because they belong to different people. Craig Wright Public Activity Hour of Day (2009-2010) (1).png Satoshi Public Activity Hour of Day (2009-2010) (1).png The raw data and calculations for these charts are available here . Technical Errors and Shortcomings Whoever really was acting as Satoshi Nakamoto introduced one of the most elegant projects to date in the internet era. The creation of Bitcoin was well ahead of its time and the real Satoshi had a clear grasp of the technical concepts it introduced, as well as a willingness to admit the gaps in his or her knowledge. By outlining some of the more notable examples where Wright has demonstrated a lack of technical knowledge, a recurring characteristic that the pseudonymous Satoshi did not readily demonstrate becomes apparent. Wright is the “chief scientist” at nChain and yet he often makes questionable technical claims. Lopp FIGURE_46.png In addition to the tweet above, Wright has claimed that internet bandwidth will exceed local bus speeds, which is impossible given that the data on both ends of an internet connection between two computers are stored on hard drives. Lopp FIGURE_47.png Source: https://archive.fo/SwjEf He also once claimed that a user with a 56K modem could download 32 MB in 9.5 minutes. It would actually take 80 minutes, which suggests that Wright made the mistake of confusing bits per second with bytes per second. Lopp FIGURE_48.png Source: https://archive.fo/xvf7l He’s also made a very odd claim regarding DNA: Lopp FIGURE_49.png Source: https://archive.fo/5it3L Time for a science and math lesson! A strand of human DNA is comprised of approximately 200 billion atoms. DNA is made of only five elements: carbon, hydrogen, oxygen, nitrogen and phosphorous. As such, if we could build a quinary storage system, then one DNA strand could store up to 1 trillion bits (~125 GB) of data. Current estimates put the entire internet at 5 to 10 zettabytes, so this claim is off by at least ten orders of magnitude. Wright also once claimed that signed integers are less useful than unsigned integers and that this is why more complex logic can’t happen on Bitcoin. Supposedly, this is because the ability to overflow an unsigned integer “enables mathematical functions.” Meanwhile, most computer scientists will tell you that integer overflow results in data loss and unintended application behavior — it should be avoided for the reliability and security of the application. Wright also claimed that secp256k1 could be used for bilinear pairing. This claim was refuted by both Andrew Poelstra (a cryptographer at Blockstream) and Vitalik Buterin (creator of Ethereum). Lopp Figure_31.png Source: https://archive.fo/Kwyfb He didn’t demonstrate any such thing. Rather, he claimed that Bitmain might have the private key to the burn address. Of course, this is an impossible claim and the math is irrefutable — it would take on the order of 2¹⁶⁰ calculations to brute-force the private key, and there isn’t enough computing power in the world to do that in any reasonable time frame. Many of Wright’s published works have been subjected to harsh scrutiny. Peter R. Rizun analyzed a paper Wright wrote about selfish mining and determined that it contained plenty of errors and unclear assumptions: “ The author tries to explain some very basic aspects of Bitcoin mining, yet fails due to careless notation, multiple errors in his equations, and a fundamental misunderstanding of what it means for Bitcoin mining to be ‘memoryless.’” Similarly, Paul Sztorc reviewed a paper Wright wrote about Segregated Witness functionality titled “ The illusion of scale in segregated witness ” and found it to be riddled with mistakes and nonsensical claims . “The biggest problem is the equation of exchange (PY=MV), which CSW interprets backward. He initially uses ‘P’ correctly as ‘price level’ (ie, BTC/stuff), but then he switches it for ‘the price of money’ (which would be stuff/BTC). So … it’s backwards. In other words, everything about velocity is the opposite of what he says.” The Million-Bitcoin Question: Why Bother? Nik Cubrilovic posted an explanation that makes sense, given the evidence at hand. His post has been deleted but the archived version can be viewed here . Prior to his “outing” as Satoshi, Cubrilovic says, Wright had been involved in a tax rebate scheme against the Australian government. Wright has operated under a number of different legal entities: Hotwire, DeMorgan, CloudCroft, Panopticrypt, Coin-Ex, Denariuz, Tulip Trading, Craig Wright R&D, Permanent Success Limited, Information Defense, Integyrs, Global Institute for Cybersecurity Research and dozens of others as mentioned on page 53 of this court transcript , an administrators’ report for Hotwire in 2014. This report details three relevant points: 1) How Hotwire operated: “ The Company’s main activity was the acquisition of various e-learning and e-payment software and undertaking research and development work in respect of this software and for software owned by related entities.” 2) How Hotwire was allegedly funded: “ The Directors have advised that $30 million was subscribed to by the shareholders in paid up capital and this was injected via Bitcoins.” 3) How that funding was spent: “ The Company applied its equity as follows: – $29 million to acquire software from the Wright Family Trust (‘the Trust’); and – $1 million to fund day to day trading activities.” What Wright did was establish a company for the purpose of carrying out research and development on e-learning software it had acquired from Wright’s own trust. Wright would inject $30 million in bitcoin to fund the company, $29 million of which would be paid to Wright’s trust to acquire the software and $1 million of which would fund operational costs — including an office in Sydney and 40 employees. The purpose for the structure becomes clear in the next action the company takes: “ Further to incurring a range of expenses, the Company lodged its GST return for the September 2013 quarter, claiming a GST refund of $3.1 million (‘the GST refund’). After various discussions and correspondence, the ATO issued a notice to the Company on 20 January 2014 notifying that it intended to withhold the refund pending further verification of transactions and the treatment of Bitcoin.” The sales tax (GST) component of the $29 million invested by Wright into the company was eligible for a refund. Thus, by shuffling around bitcoins between entities you control, it is possible to trigger a sales tax refund (in real cash). However, it’s unclear whether $30 million in bitcoin was ever shuffled around in the first place. Another Wright entity, DeMorgan, made the largest-ever R&D tax concession claim in Australia — as per its own press release . I haven’t been able to find any evidence to support this claim, however. The R&D tax concession is a program in Australia where companies investing in R&D are eligible for a 45 percent tax refund on each dollar spent. According to reporting by Forbes , the supercomputers that were claimed to be part of this spending didn’t exist, so it is possible that the refund request could be construed as an attempt to make a false claim. As reported by The New Yorker : “ Receivership documents explaining Hotwire’s apparent insolvency indicate that Wright was claiming losses ‘due to the collapse of Mount Gox.’ This reference to the 2014 crash of the Mt. Gox bitcoin exchange shows that Wright has been trying to explain his bitcoin losses to the authorities for some time.” Why does Wright say he is Satoshi? Cubrilovic theorizes that Wright simply spun a web of lies that was too complex to unwind, so now he has to keep taking it further. “ It suited Wright to be Nakamoto when he needed to raise money from investors, or to talk his way out of a problem. Nakamoto, as most know, is sitting on billions of dollars worth of Bitcoin.” On the other hand, Cubrilovic posits that Wright might not have wanted his alleged identity as Satoshi Nakamoto to become more widely known, lest he eventually “bump into somebody” who might challenge him on the claim and require some form of hard proof. “In terms of why the story of Wright being Nakamoto was made public I can offer a few theories. The first is that one too many people found out and one of them, potentially a disgruntled employee or investor, decided to leak [the news] as an act of revenge. The second theory is that Wright, knowing it was over for his companies and that authorities were closing in, concocted the leak himself as the first step towards a new life in London as Satoshi Nakamoto (Wright fled Australia and has not returned).” According to O’Hagan : “ A few weeks before the raid on Craig Wright’s house, when his name still hadn’t ever been publicly associated with Satoshi Nakamoto, I got an email from a Los Angeles lawyer called Jimmy Nguyen, from the firm Davis Wright Tremaine (self-described as ‘a one-stop shop for companies in entertainment, technology, advertising, sports and other industries’). Nguyen told me that they were looking to contract me to write the life of Satoshi Nakamoto. ‘My client has acquired life story rights … from the true person behind the pseudonym Satoshi Nakamoto — the creator of the bitcoin protocol,’ the lawyer wrote. ‘The story will be [of ] great interest to the public and we expect the book project will generate significant publicity and media coverage once Satoshi’s true identity is revealed.’” I found this snippet to be particularly interesting because Jimmy Nguyen, an attorney who specialized in entertainment and intellectual property, went on to become the CEO of nChain , a tech firm, while prior CEO Stefan Matthews became Chairman of the Board. Robert MacGregor, the founder and CEO of Canada-based money-transfer firm nTrust, who met Wright through Matthews, claims that the plan for nChain was not to build technology, but rather to attain a huge exit by selling intellectual property. Wright was allegedly paid a significant amount of money to “come out” as Satoshi, according to O’Hagan in “ The Satoshi Affair ”: “ After initial scepticism, and in spite of a slight aversion to Wright’s manner, MacGregor was persuaded and struck a deal with Wright, signed on 29 June 2015. MacGregor says he felt sure that Wright was bitcoin’s legendary missing father, and he told me it was his idea, later in the drafting of the deal, to insist that Satoshi’s ‘life rights’ be included as part of the agreement. Wright’s companies were so deeply in debt that the deal appeared to him like a rescue plan, so he agreed to everything, without, it seems, really examining what he would have to do. Within a few months, according to evidence later given to me by Matthews and MacGregor, the deal would cost MacGregor’s company $15 million. “‘That’s right,’ Matthews said in February this year. ‘When we signed the deal, $1.5 million was given to Wright’s lawyers. But my main job was to set up an engagement with the new lawyers … and transfer Wright’s intellectual property to nCrypt’ — a newly formed subsidiary of nTrust. ‘The deal had the following components: clear the outstanding debts that were preventing Wright’s business from getting back on its feet, and work with the new lawyers on getting the agreements in place for the transfer of any non-corporate intellectual property, and work with the lawyers to get Craig’s story rights.’ From that point on, the ‘Satoshi revelation’ would be part of the deal. ‘It was the cornerstone of the commercialisation plan,’ Matthews said, ‘with about ten million sunk into the Australian debts and setting up in London.’ “The plan was always clear to the men behind nCrypt. They would bring Wright to London and set up a research and development centre for him, with around thirty staff working under him. They would complete the work on his inventions and patent applications — he appeared to have hundreds of them — and the whole lot would be sold as the work of Satoshi Nakamoto, who would be unmasked as part of the project. Once packaged, Matthews and MacGregor planned to sell the intellectual property for upwards of a billion dollars. MacGregor later told me he was speaking to Google and Uber, as well as to a number of Swiss banks. ‘The plan was to package it all up and sell it,’ Matthews told me. ‘The plan was never to operate it.’” But who was the mysterious benefactor funding all of this activity? Signs point to a man named Calvin Ayre , a Canadian billionaire best known for founding the online gambling company Bodog. Once again, according to “The Satoshi Affair”: “Calvin Ayre is one of the topics the team routinely went dark on. When I first met Wright, he called him ‘the man in Antigua’. MacGregor never mentioned him at all during our early meetings. When I later told him that Ramona had mentioned a big man in Antigua, he said he didn’t mind talking about him, but didn’t bring his name up again. When, in February this year, they took Wright to Antigua for a pep talk, I emailed Matthews to ask if I could come too, and he didn’t reply. Wright, in a low moment, later asked me if I’d told MacGregor they were the ones who let the cat out of the bag about Ayre. I said it wasn’t them: Ayre’s name had first been mentioned to me by Matthews. The Antigua meeting was being arranged when I went out for dinner with Matthews, and he referred to Ayre freely without ever asking that it be off the record. MacGregor never went into detail about Ayre’s involvement but both men’s regular visits to Antigua made me wonder about the extent of the connection. Matthews, explicit as usual, always spoke about Ayre as if he was the capo di tutti capi of the entire affair, though I have no other evidence that Ayre was anything but an interested observer. Interestingly, nCrypt’s only shareholder (one share worth one pound) is nCrypt Holdings, registered in Antigua.” According to this 2017 Reuters article , nChain Holdings was sold to Malta-based High Tech Private Equity Fund SICAV plc. The website listed in this press release for said fund, however, no longer exists. “ nChain said in an emailed response to questions from Reuters that neither Ayre nor Wright had a stake in it before or after the sale. It said the company previously acquired Wright’s assets and intellectual property, and he now held the post of chief scientist.” nChain’s statement could mean several things — perhaps neither man owns a stake directly, but they do indirectly through a series of other legal entities. (Check the diagram provided below to get an idea of the bigger picture.) It could also mean that if Wright had any stake, he has already “sold out” and now is just trying to fulfill the master plan to sell intellectual property — or another theory is that he’s just trying to run out the clock, making it look like he’s trying to do so. According to the Reuters article, “A person close to the deal said $300 million had been invested in nChain, but it was not clear over what period of time.” An intriguing quote from Matthews regarding the investors: “The people that I work with are capable of deciding this was a $30 million bad decision and write it off.” An article published by Elmo Keep in Splinter summarized O’Hagan’s “The Satoshi Affair”: “ Overall, the piece adds credence to the accusation that Wright perpetuated a vast and complex fraud to convince the world that he is Satoshi Nakamoto in order to get out from under millions of dollars worth of debts he had accumulated in Australia with the tax office and other creditors. And if it is a scam, it now appears to have included a large number of co-conspirators and/or victims, including the media outlets who were used to facilitate Wright’s outing.” The article seems to suggest that Wright may be performing a sophisticated form of advance-fee scam or affinity scam, whereby he uses his credibility to convince investors to part with their money for the promise of future returns. An alternative theory is that Stefan Matthews is a linchpin to the arrangement mentioned earlier and that he brought Calvin Ayre into this particular scheme. According to O’Hagan , Matthews is an Australian IT expert whom Wright had known for 10 years, since they both worked for the online gambling site Centrebet. Matthews later went to work for Bodog. Matthews was also a director for Wright’s company DeMorgan, so they likely remained in close contact. In “The Satoshi Affair,” Matthews is quoted as saying : “I get what I get paid by Calvin [Ayre]. Calvin is the only allegiance I have, then and now.” If you look into Ayre’s background, he has been building an “offshore” gambling empire that takes advantage of jurisdictional arbitrage in order to offer services that, when combined, are arguably illegal in some countries. By spreading around his operations, he has been able to not only maintain them in such an adversarial environment but to grow them into a huge operation. He’s a shrewd businessman who is well versed in exploiting legal loopholes. As Ayre once described his operations in a Forbes interview: “We run a business that can’t actually be described as gambling in each country we operate in. But when you add it all together, it’s Internet gambling.” Court records show that Ayre’s not without his own problems though, as he was a fugitive from the IRS and other U.S. authorities due to money laundering charges filed in 2012. During the five years he'd spent on the run, U.S. authorities seized over $68 million in assets from him but eventually allowed him to plead to a misdemeanor charge in return for dropping all of the felony charges. In my opinion, Ayre is in a situation where a censorship-resistant and unseizable cryptocurrency is highly desirable. Even when he first began operating in the 1990s, his gambling site was one of the few that didn’t use third parties like Western Union to transfer money — it sent checks directly to users. If I was Ayre, I’d want all of my gambling sites to use cryptocurrency and I’d want to store a significant portion of my wealth in cryptocurrency. Why would Ayre choose to go the Bitcoin Cash (and later Bitcoin Satoshi Vision) route rather than just using the already well-established Bitcoin network? Was he convinced that BSV was better suited for gambling, or that he’d be better positioned to influence BSV’s development? Or was it that Ayre was already incredibly invested in Wright’s success and was ambivalent about the technical details? Or could Ayre’s mining operations simply have been a useful way for him to launder money? Freshly minted coins are pretty much impossible to tie to illegal activity. Electricity goes in and untainted money comes out. Economically rational SHA256 miners should mine the most profitable network since switching costs are fairly low. We can observe from the charts below that BSV miners appear to not be economically rational - they are leaving money on the table, so to speak. While BCH miners appear to drop off the BCH network (and probably switch to mining BTC) when it becomes more profitable to do so, BSV miners have been consistently mining at a loss, in comparison to if they were mining BTC instead. This begs the question: Are BSV miners actually irrational or is there another factor at play that makes it rational for them to pass over an opportunity for greater profits? One plausible explanation is that as of April 26 2019, over 80 percent of the BSV hashrate is controlled by 2 pools: CoinGeek (owned by Ayre) and BMG Pool (owned by nChain) and that they are mining suboptimally in order to keep up appearances of strength. This reasoning makes sense given that BSV is built upon an ideology driven by Nakamoto Consensus: “He who controls the hashrate controls the network.” Screenshot from 2019-04-24 16-22-57.png Screenshot from 2019-04-24 16-23-03.png In the chart below, an internet sleuth on Reddit theorized about a possible web of relationships. Lopp FIGURE_53.png Patents Wright has been prolific in his efforts to file patents for other blockchain- and computer-science-related work. These patents would be much more interesting to potential investors if filed by the man behind Satoshi, possibly serving as motivation for Wright’s claims. Wright has been filing patents for a few years under EITC Holdings, nChain Holdings, NCIP Holding and nTrust. Filings of his have been found at the Intellectual Property Office of the United Kingdom, European Patent Office, U.S. Patent and Trademark Office and Taiwan Intellectual Property Office. A (now-deleted) site called bitcoinpatentreport.com detailed some of the activity. At the time of this writing, a total of 264 patents by Wright’s companies have been published by the British patent office, while the European patent office shows 167 applications for nChain. PatentScope sees 296 applications , while Google Patents shows a total of 363 . EITC Holdings: 73 filings nChain Holdings: 145 filings (Britain), 174 filings (Europe) NCIP Holdings: 7 filings nTrust: 0 filings On March 7, 2019, nChain CEO Jimmy Nguyen wrote that nChain had filed its 666th patent application. Note that filings are generally published with a time lag of up to 18 months, so we’ll have to wait another year to know for sure. Lopp Figure_35.png Source: https://archive.fo/vrhBm Lopp FIGURE_36.png Source: https://archive.fo/PPER9 These tweets with specific claims of patent applications filed are interesting because they conflict with the number claimed by nChain’s CEO in March of 2019. Wright claims 700 patents filed as of June 2018 and 1,000 filed as of December 2018, while Nguyen claims 666 as of March 2019. While nChain may not be filing as many applications as Wright claims, it certainly is filing a lot. But filing applications is not the same as having patents granted. From a cursory review of some of the applications, it appears that patent examiners are finding prior art for many of nChain’s claimed novel inventions; you can see some of the patent examiner opinions here . Take, for example, Wright’s patent application for a threshold signature scheme . The patent examiner determined that 31 of the 34 claims of novelty were, in fact, not novel. Or this patent application for UTXO time locks, for which the patent examiner determined 14 of the 17 claims were not novel. In February 2017, Wright submitted a patent titled “Agent-based Turing Complete Transactions integrating feedback within a Blockchain System,” basically trying to patent any computer program that uses a blockchain as its data store. In a Medium post dated September 4, 2018, Jonathan Toomim completed an in-depth analysis of Wright’s proposal and demonstrated ways in which P2Pool, Ethereum and Counterparty could be considered prior art . Evasion of Criticism On June 30, 2018, Wright blocked me on Twitter and made this post. Lopp FIGURE_40.png Source: https://archive.fo/D4zrc I found this to be a bit odd because I had muted him many months before and stopped interacting with him after I challenged one of his technical claims about the node network graph of Bitcoin Cash. Instead of answering my straightforward question, he countered with a bombardment of questions of his own that did not appear particularly relevant. Lopp FIGURE_41.png In the following weeks and months he continued blocking quite a few people, even those who supported Bitcoin Cash, perhaps in anticipation of nChain planning to push a contentious hard fork for Bitcoin SV. Lopp FIGURE_42.png Lopp FIGURE_43.png Lopp FIGURE_44.png Lopp FIGURE_45.png Apparent Misrepresentation of Academic Credentials Among Wright’s lengthy list of claimed accomplishments, there are quite a few academic achievements, including PhDs that he has used as the basis for his title of “Dr.” In 2017, he pulled a stunt at a Bitcoin Meetup in Zurich, where he brought a “wheelbarrow of degrees” on stage. Photos of these degrees and certificates were subsequently published on nChain’s website . As we can see from this list, Wright’s only PhD appears to have been completed in April 2017 at Charles Sturt University (often ranked around number 30 in Australia and number 800 globally), which is where most of his degrees appear to have come from. Wright’s now-deleted LinkedIn profile also claimed a “PhD, Computer Science 2009–2012” from Charles Sturt University, but the school put these claims in question with a media release: Update: Australian university says Craig Wright did not complete a PhD as claimed. https://t.co/DmqU0sVlwy pic.twitter.com/AaubGgYD9U — Mashable (@mashable) December 11, 2015 That PhD in computer science is not listed among his degrees. Nor is the Masters in Systems Development that he has claimed. Neither is listed on CSU’s alumni education verification site either. That same LinkedIn profile claimed that he’d earned a “Doctor of Theology, Comparitive Religous [sic] and Classical Studies 1998–2003” from “Guess” — he later stated that his theology studies were through SOAS (University of London’s School of Oriental and African Studies). Lopp Figure_15.png Source: https://twitter.com/ProfFaustus/status/1083339312219996160 However, it seems clear from my research that he has never published anything (such as a PhD thesis) through SOAS as its research archives hold nothing with his name on it . Nevertheless, in 2015, Wright remotely participated in a Bitcoin conference and claimed he had “a couple doctorates. ” It’s quite clear that Wright had given himself the title of “Dr.” and used it for several years before rightfully earning it. This media statement issued by CSU further clarified that, despite Wright stating he was a lecturer and researcher at the university, “[b]etween May 2011 and May 2014 Mr. Wright was an adjunct academic at CSU. Adjunct academics undertake unpaid academic work and are not formally employed by the University.” I have been unable to verify Wright’s LinkedIn claim that he earned a “Master of Science (MSc), Finance (Quantitative Finance)” in 2015–2017 through the University of London (presumably through SOAS again ). A Mashable request for academic records appears to have been unfulfilled. I sent my own request and SOAS replied that I needed written consent from the individual in order to have the information released. This seems like a flaw to me; you’d think that academic institutions would want to help students accredit their academic credentials. Military Service Wright has referred to his time in the military on several occasions. I have looked into the record of his service and the tasks he allegedly performed at that time in order to confirm his claims. The earliest record that I’ve been able to find of Wright referencing his military service in the cypherpunk community dates back to 1996, when Wright added a post to the cypherpunks mailing list: “The few months I was unemployed after I left the military because of a confict [sic] of interests I earned money by doing whatever I could get.” In 2008, Wright made a reference to this time in his life on a public mailing list: “In 1989 I started a B.Eng/BSci double degree. I dropped out of the University of Queensland in 1992 (after my 3rd year). I have a reason for this. I had cancer. I though [sic] that it was better to go back to my studies after I knew I would live. Sorry, but we all have priorities.” Years later, according to “ The Satoshi Affair ,” Wright said of his time in the military: “‘They locked me in a bunker … and I worked on a bombing system. Smart bombs. We needed fast code, and I did that.’” I found Wright’s claims about his military service intriguing, mainly because military service creates a lot of public records. So I strolled on over to the National Archives of Australia to see what information it would release to me. It took several months of painful bureaucratic back and forth, but I managed to retrieve 82 out of the 177 pages of documents on file for Wright. They are available here . What do Wright’s public military records show? He was in the Australian Air Force Cadets at age 15 in 1986. He applied to the Australian Defence Force Academy to train as a pilot in 1987 but was rejected. Oddly enough, the psychologist’s report filed with this application is blank. It is possible that the completed one was withheld. He was a student at the University of Queensland from 1988 to 1989. He applied to the Royal Australian Air Force in 1989 and was accepted to a nine-year officer program with a sponsorship to the RAAF undergraduate program to study electrical engineering. The sponsorship offer noted that “should you fail to progress academically for whatever reason … you may be required to apply to repeat the year at your own expense.” He started his first semester in 1990 as an Officer Cadet. He passed one class, “Law of War,” in the first semester. Oddly enough, there is no mention of any engineering or math classes, but perhaps these records were withheld. A (hard to read) handwritten letter released by the archives appears to state that “Officer Cadets Bone and Wright were asked to show cause why they should be provided with continued RAAF sponsorship as they had failed semester 1/90.” Wright did send a letter regarding his undergraduate sponsorship standing later that year, but it was withheld by the archives. He went on SLWOP (special leave without pay) on March 15, 1990. He was discharged October 19, 1990, for “Reason 4.” (I’ve not been able to verify what “Reason 4” means.) It’s interesting, to say the least, that this man who claims to be a lifelong academic with more than a dozen degrees appears to have failed out of his first semester in the RAAF, according to these public records. Is it likely that he was given the responsibility to write code for bomb guidance systems as a first-semester cadet? Did he leave the military due to a “conflict of interest”? What Now? Wright’s threats through his London-based lawyer against multiple posters may or may not wind their way through the court process. The lawsuit against Wright in federal court in Miami will continue; in fact, Wright recently was scheduled to sit for testimony in London, so we will be interested in learning more about that. I, personally, am highly doubtful of many of Wright’s claims. He’s had four years to come forward with proof that he is Satoshi, and I, for one, am not satisfied. On the bright side, it would appear that Wright has painted himself into a corner. He is now the figurehead of a fork of a fork of Bitcoin, operating in a tiny echo chamber that will be incredibly difficult to grow. In fact, it appears that there is a growing movement among exchanges to delist the BSV asset. It will be interesting to see how Craig & Co. make their exit — will it be with a bang or a whimper? Wright thrives on attention, and the unfortunate result of this post is that it is a catch-22 — it will bring him more attention, at least temporarily. I believe we’ll all be better off if we let this chapter of Bitcoin come to a close. Additional Sources Numerous sources have been reviewed in connection with this op ed, and many are linked throughout. Below are links to further extended posts and compilations. Andreas Brekken’s “ Cult of Craig ” compilation, now maintained at https://craigwright.online/ and https://www.stopcraigwright.com/ Bitcoin Wiki’s entry on Craig Wright /u/Contrarian__ ’s plethora of Reddit posts Jonald Fyookball’s compilation of Wright’s history Nik Cubrilovic’s analysis of Hotwire This is an op ed by Jameson Lopp. Opinions expressed are his own and do not necessarily reflect those of Bitcoin Magazine or BTC Inc. This article originally appeared on Bitcoin Magazine . || Minnesota Representative to Reintroduce Hard Fork Tax Reform Bill: Minnesota Congressional Representative Tom Emmer has announced plans to reintroduce a bill meant to “provide temporary safe harbor for the tax treatment of hard forks of convertible virtual currency in the absence of administrative guidance.”
Representative Emmerparticipatedin a panel on the relationship between government and the crypto industry at Consensus 2019 on May 13, 2019, wherein he first announced an attempt to continue the fight for his hard fork bill. Joined by industry leaders and government personalities, Emmer publicly acknowledged the sort of limbo that crypto holders find themselves in when one of their cryptocurrency holdings undergoes ahard fork. When a coin forks in such a way, tax agencies currently have grounds to consider the new “forkcoin” assets as undeclared income.
The first iteration of this bill wasintroducedby Emmer in September 2018, when it was immediately transferred over to the jurisdiction of the House Committee on Ways and Means. Having effectively died in committee with no significant updates since, Emmer has now declared that the updated version of the bill will differ in several ways from the text of theoriginal, possibly including protections for other means of crypto asset holding such as airdrops.
The issuance of crypto assetforkshas been a recurring topic of discussion in the space for several years now, ever since the first major forkcoins were created from the original Bitcoin blockchain. The practice has gained quite a deal of notoriety recently, however, upon theforkof Bitcoin Cash in November 2018. Bitcoin Cash is itself one of the most famous of the original forkcoins and this subsequent split raised many questions about the status of forkcoins in the future. In particular, clarifying the legal status of these assets in the tax ecosystem seems pressing.
Emmer gave no concrete timetable as to when he plans to reintroduce his bill, titled the “Safe Harbor for Taxpayers with Forked Assets Act.” He has mentioned support from other representatives in a Blockchain Caucus which may give this second attempt at getting the bill passed a better chance.
This article originally appeared onBitcoin Magazine. || Bitcoin Stock Slapped with Trading Freeze Amid SEC Probe: ByCCN: Shares ofBitcoin Generation(BTGN), a little-known Bitcoin stock, last traded at 9 cents. They will remain there until at least May 10 while the Securities and Exchange Commission launches a probe into the Oklahoma-based company’s finances.
The SEC has some questions about an Oklahoma-based cryptocurrency exchange. | Source: Shutterstock
The Bartlesville, Oklahoma-headquartered company offers a regulated cryptocurrency exchange that supports Bitcoin, Bitcoin SV, Ethereum, Litecoin, XRP, and Monero.
It bills itself as the first “publicly traded cryptocurrency exchange.” This is debatable, of course, based on what one considers “public” trading.
Binance, for instance, is a privately-held company. However,Binance Coin– which does not represent company equity but provides holders with exposure to the exchange’s profits – has been in circulation for a couple of years now and relates heavily to demand and usage of the Binance exchange. Other “initial exchange offerings” have come and gone in the meantime, with far less success.
The SEC posted a note to its website, alleging that certain information about the company was being twisted in promotional materials, along with other concerns. Specifically, theone-page documentsays:
“The Commission temporarily suspended trading in the securities of BTGN due to concerns about the accuracy and adequacy of information in the marketplace about, among other things, (1) BTGN’s public statements regarding the viability and valuation of a bond that BTGN purportedly acquired from an entity based in the United Kingdom; (2) the amount of BTGN’s outstanding common stock; (3) stock promotional activity relating to BTGN and the market impact of such promotional activity; and (4) the accuracy and adequacy of current public information regarding BTGN’s financial condition.”
[Random Sample of Social Media Buzz (last 60 days)]
@httpscard_HQ 0.5 BTC and i will influence the fuck outta my TL || One Bitcoin now worth $8052.55@bitstamp. High $8158.450. Low $7939.760. Market Cap $142.711 Billion #bitcoin || #inzura #btc #eth #tokensale #TokenSale $btc || @ekrem_imamoglu ekrem.abi bide @btc icin vaad verseydin || Bitcoin fiyatındaki artışın devam etmesi bekleniyor https://t.co/0DXOifP4jW || Something something bearish candle stick pattern || BTC/USD | $BTCUSD | $BTC $USD
BTCUSD
Long or short it on WCX: https://t.co/d3GdgS1SVu https://t.co/0THn9Sq9OA || Remember this @Forbes article @VitalikButerin ? I loved Ethereum then too. #2018 || What Bitcoin Achieved in 10 Years Gold Couldn’t in 100 https://t.co/75cKVEclJc via @blockpublisher_ @real_vijay
#bitcoin #bitcoinnews #BTC #btcnews #bitcoins #blockchains #blockchainfuture #blockchain #GOLD #DigitalTransformation #BlockChainNews #money #Fiat #evolution || Update: 🚀🚀🚀🚀🚀🚀 coming up soon let's go #eos #eosio #b1june https://t.co/qHBl0ytdXw
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Trend: up || Prices: 8043.95, 7954.13, 7688.08, 8000.33, 7927.71, 8145.86, 8230.92, 8693.83, 8838.38, 8994.49
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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 2022-02-18]
BTC Price: 40030.98, BTC RSI: 43.61
Gold Price: 1898.60, Gold RSI: 69.57
Oil Price: 91.07, Oil RSI: 57.64
[Random Sample of News (last 60 days)]
UK Regulator Calls Foul on Arsenal FC Fan Token Ads: The UK advertising watchdog, Advertising Standards Authority (ASA), continues its onslaught against non-compliant crypto adverts by banning Arsenal FC fan token ads. The body announced this decision on Wednesday, claiming that the club “failed to illustrate the investment risk.” ASA Bans Arsenal Crypto ad The decision affected two Arsenal fan token( $AFC) ads. The first was an August 6, August 6, 2021 post on Arsenal official website titled “$AFC Fan Token: Everything you need to know,” while the second is the club’s official Facebook page post on August 12, 2021, saying ‘$AFC is now live’ and asking fans: “What song do you want to hear when we win? Download the Socios app to get your token and vote.” Similar to previous rulings leading to the takedown of 7 crypto ads , ASA found that the posts were misleading and irresponsible. It noted that the Facebook post failed to inform people that the fan tokens were crypto-assets that required exchanging with another cryptocurrency. The agency asked the club to state that the fan tokens are unregulated crypto assets with a volatile value in future ads. The club, in response, stated that there’d be an independent review of the decision. It argued that it didn’t promote the token as an investment and warned fans about the likelihood of losing the money they used to buy the token. Crypto and Football Teams Several football teams across the top 5 leagues have partnered with Cryptocurrencies and blockchain platforms to release fan tokens, NFTs , and other digital coins in recent months, with many fans buying these assets. Some of the football clubs to have partnered with crypto projects include PSV Eindhoven, FC Barcelona, Napoli SC, Cadiz etc. However, not everyone is pleased with this development. Some fans have raised their concerns about the risks of these assets. In August, Arsenal Supporters Trust voiced its concerns about clubs using their popularity to push inherently risky products. With the rulings and ASA’s plans to issue guidelines on crypto marketing next year, these concerns may finally be put to rest, and more protection will be guaranteed for consumers and club supporters. Story continues This article was originally posted on FX Empire More From FXEMPIRE: Pro-Communist Party News Outlet to Launch an NFT Collection Despite China’s Crypto Stance Top Australian Exchange Lists Shiba Inu Tech Giant Amazon restores Cloud Services Following Multiple Power Outages Payroll Provider Paychex Stock Soared to a Record After Q2 Earnings Beat, Revised Outlook Gold Price Forecast – Gold Markets Continue to Hover Bitcoin and Ether Near Crucial Juncture, XRP Rally Gathers Pace || Stock market news live updates: Stocks drop, tech shares sink after Fed minutes hint at earlier liftoff on interest rates: Nasdaq slides by 3.3%: Stocks sold off Wednesday afternoon, with a slide in technology stocks accelerating into market close as investors digested the Federal Reserve's latest meeting minutes suggesting a potentially quicker path toward raising interest rates. The Nasdaq Composite slid by about 3.3% in its worst day since February 2021 as a rout in technology stocks deepened. The S&P 500 dropped by nearly 2%, with the interest-rate sensitive real estate sector underperforming alongside information technology and communication services stocks. The Dow dropped nearly 400 points, or more than 1%. Investors eyed the minutes from the Federal Open Market Committee's (FOMC) December meeting, which suggested the central bank was considering a faster removal of its monetary policy accommodation than previously anticipated. Policymakers suggested that against the backdrop of a firming economic recovery and elevated inflation, interest rates could rise sooner than anticipated. And some policymakers also telegraphed they would opt for shrinking the Fed's balance sheet soon thereafter. "Participants generally noted that, given their individual outlooks for the economy, the labor market, and inflation, it may become warranted to increase the federal funds rate sooner or at a faster pace than participants had earlier anticipated," the minutes said. "Some participants also noted that it could be appropriate to begin to reduce the size of the Federal Reserve’s balance sheet relatively soon after beginning to raise the federal funds rate." Treasury yields jumped to build on gains after moving sharply higher on Monday and Tuesday, which had added pressure to technology and growth stocks valued heavily on future earnings potential. The benchmark 10-year jumped to a 9-month high of more than 1.7% following the release of the Fed's meeting minutes Wednesday afternoon. "The meeting minutes further confirm the Fed’s recent hawkish shift and its desires to start to remove monetary accommodation this year," Lawrence Gillum, Fixed Income Strategist for LPL Financial, said in an email Wednesday morning. " While most of the information was known, that 'some' members wanted to start to reduce the Fed’s $8.5 trillion balance sheet soon after the first-rate hike is likely going to be further scrutinized in upcoming meetings." Story continues "Seems like the Fed wants to move quicker than it has in the past and yields, across the curve, are moving higher at the prospects of a quicker tightening timeline," Gillum added. Earlier Wednesday morning, investors also digested fresh upbeat economic data, as private payroll gains handily exceeded estimates for December. ADP said Wednesday that private sector employers added back 807,000 jobs during the final month of November, nearly doubling expectations as job growth picked up to help alleviate some labor shortages. — 4:02 p.m. ET: Stocks drop, tech shares sink after Fed minutes hint at earlier liftoff on interest rates: Nasdaq slides by 3.3% Here were the main moves in markets as of 4:02 p.m. ET: S&P 500 ( ^GSPC ) : -92.87 (-1.94%) to 4,700.67 Dow ( ^DJI ) : -392.35 (-1.07%) to 36,407.30 Nasdaq ( ^IXIC ) : -522.54 (-3.34%) to 15,100.17 Crude ( CL=F ) : +$0.07 (+0.09%) to $77.06 a barrel Gold ( GC=F ) : -$4.40 (-0.24%) to $1,810.20 per ounce 10-year Treasury ( ^TNX ) : +3.7 bps to yield 1.7050% — 12:54 p.m. ET: Bitcoin falls, cryptocurrency-related stock slide amid tech rout Bitcoin prices fell more than 1% Wednesday afternoon to trade just above $46,000, with digital currencies coming under pressure alongside the drop in large-cap tech stocks. Publicly traded companies with exposure to bitcoin also dropped. Bakkt ( BKKT ) shares fell more than 7%, while Marathon Digital ( MARA ) and Riot Blockchain ( RIOT ) were also each lower by more than 9% and 7%, respectively, during intraday trading. — 11:27 a.m. ET: Microsoft shares drop 2.5%, pacing toward fifth straight day of losses Shares of software behemoth Microsoft ( MSFT ) were on track to fall for a fifth straight day on Wednesday, falling by as much as 2.5% at session lows. If Microsoft shares end the session lower, it would mark the stock's longest losing streak since September. The drop came amid a broader drawdown in highly valued technology and growth stocks, in part coming as Treasury yields rose and pressured lofty tech valuations. — 10:33 a.m. ET: Nasdaq-listed blockchain company announces plans to offer first-ever bitcoin dividend The Nasdaq-listed company BTCS Inc. announced Wednesday that it will be the first publicly traded U.S. firm to offer investors the ability to receive a dividend issued in Bitcoin. The data analytics and blockchain company said shareholders can receive a cash dividend worth 5 cents per share or the equivalent in Bitcoin , which the firm is calling a "Bividend." Investors will need to opt-in with their choice by March 16, ahead of a record date of March 17. "This is a moment we have long anticipated since the Company purchased the domain, bividend.com, in February 2015," BTCS CEO Charles Allen said in a press statement. "BTCS is now in the financial position required to execute on the Company’s vision.” The company, based in Silver Spring, Maryland, said it is "evaluating the appropriateness of future Bividends." — 9:30 a.m. ET: Stocks open lower Here's where markets were trading just after the opening bell: S&P 500 ( ^GSPC ) : -6.35 (-0.13%) to 4,787.19 Dow ( ^DJI ) : -10.76 (-0.03%) to 36,788.89 Nasdaq ( ^IXIC ) : -69.27 (-0.47%) to 15,548.99 Crude ( CL=F ) : +$0.95 (+1.23%) to $77.94 a barrel Gold ( GC=F ) : +$13.30 (+0.73%) to $1,827.90 per ounce 10-year Treasury ( ^TNX ) : -1.7 bps to yield 1.649% — 8:22 a.m. ET: Private payrolls grew much more than expected in December: ADP Private sector employers added back far more jobs than anticipated in the final month of 2021, suggesting at least some widespread job vacancies were getting filled across the economy. ADP said Wednesday that private payrolls grew by 807,000 in December. This was nearly double the 410,000 consensus economists expected, according to Bloomberg data. Employers had brought back 505,000 jobs in November, according to ADP's revised estimate for that month. The ADP report serves as one measure setting expectations for the "official" government jobs report due out on Friday from the Labor Department. However, ADP's print during the pandemic especially has served as an imperfect indicator of what to expect from the Labor Department's reports. In three of the past four months, ADP's print overshot the Labor Department's payrolls figure, which last came in at a disappointing 210,000 for November. — 7:08 a.m. ET Wednesday: Stock futures point to a lower open Here's where markets were trading ahead of the opening bell: S&P 500 futures ( ES=F ) : -3.25 points (-0.07%), to 4,781.00 Dow futures ( YM=F ) : -1 point (-0.00%), to 36,674.00 Nasdaq futures ( NQ=F ): -56.5 points (-0.35%) to 16,219.25 Crude ( CL=F ) : -$0.04 (-0.05%) to $76.95 a barrel Gold ( GC=F ) : +$4.70 (+0.26%) to $1,819.30 per ounce 10-year Treasury ( ^TNX ) : -1.5 bps to yield 1.651% — 6:15 p.m. ET Tuesday: Stock futures little changed Here's where markets were trading Tuesday evening: S&P 500 futures ( ES=F ) : -0.75 points (-0.02%), to 4,783.50 Dow futures ( YM=F ) : -12 points (-0.03%), to 36,663.00 Nasdaq futures ( NQ=F ): -9.5 points (-0.06%) to 16,266.25 — Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter || Bitfinex Announces Suspension of Services in Ontario, Canada: It’s been a busy few months on the crypto regulatory front. Late last year, theBank of Englandopened the floodgates, talking of the need for a global regulatory framework for the crypto market.
Since then, numerous governments and regulators have increased crypto market related activity. These includeU.S Congress, theRBI, theSouth Korean government. Even theIMFtalked of concerns over interconnectedness between cryptos and the U.S markets and its impact on financial stability.
One exchange that has recently been in the news as it ramps up its compliance division has been Binance (BNB). Last week, wereportedon Binance and its latest recruits. At the turn of the year, however, Binance had also fallen afoul of the Ontario Securities Commission (OSC).
The OSC’s stance on cryptos was evident at the time. In reaction to a reported Binance mis-communication, the OSC stated “Binance has issued a notice to its users, without any notification to the OSC, rescinding this commitment. This is unacceptable”. Binance had previously committed to not allowing new transactions involving Ontario residents after 31stDecember, 2021.
Bitfinex is a cryptocurrency exchange founded in 2012.
In recent years, Bitfinex has also had plenty of news coverage. Back in 2015, the exchange was hacked, leading to a loss of around $400,000 equivalent in Bitcoin (BTC). A year later, the U.S Commodity Futures Trading Commission (CFTC) fined Bitfinex for offering illegal commodity transactions. In the same year, Bitfinex also experienced a securities breach, leading to the theft of over 100,000BTC. Banking relationships also reportedly went south, with U.S Bank Wells Fargo cancelling its wire transfers. In 2019, the New York Attorney General launched an investigation, alleging that Bitfinex was using its Tether (USDT) reserves. In October of last year, the CFTC once more fined Bitfinex, this time for $1.5m. The fine was for illegal, off-exchange retail commodity transactions in digital assets with Americans. (Source:Wikipedia)
With a laundry list of security breaches and fines,news hit the wiresovernight that Bitfinex will cease all services in Ontario, Canada effective 1stMarch.
According to theannouncement,
• Bitfinex will close all Ontario customer accounts that do not have balances.
• Ontario customers with no open positions or open margin positions or borrowing positions will no longer have access.
• As at 1stMarch 2022, Ontario customers will no longer have access to any services.
• All Ontario customers should withdraw funds by 1stMarch 2022.
At the time of writing, there had been no news relating to Bitfinex on theOSC News Releases section.
Thisarticlewas originally posted on FX Empire
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• S&P 500 Bounces After Initial Selloff || Coinbase Advises Public About its $15 Bitcoin Giveaway: The largest crypto exchange in the U.S,Coinbase, has warned its users to be wary of potential scams that could accompany its ongoingBitcoingiveaway seen recently in an advertisement.
Coinbase looked to draw new faces into the nascent crypto industry by giving away $15 to those who sign up to its platform using a QR code it advertised during the Super Bowl event.
The exchange warning has become very important because bad actors could use this ad to draw up some nefarious plans that could swindle unsuspecting individuals off their funds.
There have been similar occurrences when these scammers had capitalized on major events of this nature.
Last year, scammers used Elon Musk’s appearance on the Saturday Night Live show to scam over $10 million worth of Bitcoin,Ethereum,andDogecoinfrom viewers.
Thus, Coinbase’s warning is coming because the Super Bowl has an enormous viewership, which is approximated at around 100 million, meaning that the ad could attract the attention of several people.
Already, there are indications that the ad’s effect was enormous as thetraffic surgeon Coinbase’s platforms led to temporary downtime.
The highly anticipated Super Bowl match between the Cincinnati Bengals and the Los Angeles Rams was replete with several crypto-related ads whose major intent was to draw more investors to the nascent industry.
Crypto firms like FTX, eToro and others likeBud Lighthad ads infused with crypto themes.
It is worth adding that crypto ads are now the targets of regulators worldwide. These regulators tend to state that many crypto-related ads don’t point out the risks attached to the asset class.
Singapore, Spain, and Britain, for example, have initiatedseveral crypto ads regulationsin their bid to control what kind of advertisements their citizens are exposed to.
Invariably, as regulators continue to be drawn to the crypto spag, it means that the tone and language of several crypto ads are going to change from what we know it to be present.
Thisarticlewas originally posted on FX Empire
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• Silver Rallies While Gold Gets To $1865 || Robinhood Rolls Out Crypto Wallet to First 1,000 Waitlist Sign-Ups: Rafael Henrique/SOPA Images/Shutterstock Robinhood rolled out its own crypto wallets to 1,000 customers from the top of its WenWallets waitlist and expects to expand the program to 10,000 customers by March, according to a blog post. See: Robinhood Hit With Breach of Contract Fine – Could This be an Opening for Further Litigation? Find: How Robinhood and Other IPOs Performed in 2021 The wallet will enable Robinhood customers to send and receive cryptos from Robinhood to external crypto wallets, and fully connect crypto holders to the greater blockchain ecosystem for the very first time, the company said in the blog post. Beta testers will have a daily limit of $2,999 in total withdrawals and 10 transactions and will need to enable two-factor authentication. In October, one month following Robinhood’s announcement that it would launch its own crypto wallet, the waitlist topped 1 million customers, CEO Vlad Tenev said, as GOBankingRates previously reported. And as of Dec. 30, more than 1.6 million people have signed up for wallets, according to a blog post. At the time of the announcement in September, Robinhood said that the wallet means “you can consolidate your coins into one account so it’s easier to track your portfolio, move supported coins into your Robinhood account so you can trade those coins commission-free, and more.” Robinhood Crypto COO Christine Brown tweeted that “over the duration of the Beta program, we will be working to finalize the send and receive flows and add delightful QR scanning experiences, improved transaction history, and block explorer support so you can see your transactions on-chain — and more!” Over the duration of the Beta program, we will be working to finalize the send and receive flows and add delightful QR scanning experiences, improved transaction history, and block explorer support so you can see your transactions on-chain— and more! https://t.co/db5afxwQWx — Christine (Hall) Brown (@christine_hall) January 20, 2022 The company, whose mission is to “democratize finance for all,” started its NASDAQ listing in July 2021, under the ticker HOOD, in one of the most anticipated and unusual IPOs of the year. Story continues The company, which will release its earnings on Jan. 27, said In October that for the three months ending Dec. 31, 2021, it anticipates that many of the factors that impacted its third-quarter results, such as seasonal headwinds and lower retail trading activity, may persist. See: Best Bitcoin or Crypto Wallets 2021: How To Choose Find: Stock Forecast: Robinhood’s Crypto Wallet Waitlist Tops 1 Million Signups “In the absence of any changes to the market environment or exogenous events, we believe this may result in quarterly revenues no greater than $325 million and full-year revenue of less than $1.8 billion. Additionally, we expect new funded accounts for the fourth quarter will be roughly in line with the 660,000 opened in the third quarter of 2021 ,” according to the statement. More From GOBankingRates Learn More About GOBankingRates’ Best Checking Accounts of 2022 See GOBankingRates’ Best Online Banks of 2022 How to Easily Add $500 to Your Wallet This Month 35 Useless Expenses You Need To Slash From Your Budget Now This article originally appeared on GOBankingRates.com : Robinhood Rolls Out Crypto Wallet to First 1,000 Waitlist Sign-Ups || Russia Begins CBDC Testing As the Fate of Crypto Hangs in Limbo: Russia, at the moment, has become the center of attention for people across the globe and industries owing to two major circumstances. First is the ongoing Russia-Ukraine conflict, the second being thecryptocurrencydebate.
After proposing a ban on crypto mining and trading in the country, the Central Bank of the Russian Federation yesterdayannouncedthey are initiating the first stage of their Central Bank Digital Currency (CBDC) test.
Of the 12 banks from the pilot group that initiated interest in being a part of this process, three have already connected to the platform according to the Bank of Russia.
In fact, two of them have already completed an entire cycle of operation for the transfer of DigitalRublebetween customers.
In order to conduct transactions using digital rubles, the Bank of Russia has enabled access to the digital wallet through the mobile application of any bank.
Furthermore, in the first stage, the bank has decided to test the issuance of digital rubles which will be conducted by the Bank of Russia itself.
Next on the list is launching digital wallets and to enable transactions among citizens. Post the successful completion of the first stage, the Bank of Russia is targeting to test the CBDC for payments.
At the same time implementation of smart contracts and interaction with the Federal Treasury will also be tested.
In regard to the announcement, The First Deputy Governor of the Bank of Russia, Olga Skorobogatova stated:
“The digital ruble platform is a new opportunity for citizens, businesses and the state. We plan that for citizens transfers in digital rubles will be free and available in any region of the country, and for business this will reduce costs and create opportunities for the development of innovative products and services.
During this year, we will test various scenarios and refine the digital ruble platform. In the subsequent stages of the platform’s development, we also plan to provide for seamless interaction with digital platforms and digital ecosystems.”
The bank further added that a roadmap would be implemented based on the results of the tests in the future.
While the Central Bank focuses on CBDCs, members of the government in Russia have been suggesting their own methods to regulate cryptocurrencies.
RecentlyPutin President Vladimir Putin spoke in favor of crypto mining citing competitive advantage.
This was followed byreportsof the bank now considering treating cryptocurrencies as currencies. Not so later, the Ministry of Economic Developmentcalledfor taxing crypto upon its conversion into rubles.
It seems like Russia is following in the footsteps of the likes of Tunisia, China, and India where CBDCs have become the focus of the governments to escape the discussions of crypto’s legal status.
Thisarticlewas originally posted on FX Empire
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It was also a bullish session for Avalanche (AVAX) and Solana (SOL) that led the way, rallying by 5.23% and by 3.85% respectively. Terra (LUNA) and Ethereum (ETH) ended the day up by 2.55% and by 2.02% respectively. Ripple (XRP) ended the day with a modest 0.49% loss.
Last Friday, the NASDAQ 100 had tumbled by 2.78% to leave Bitcoin in the red going into the weekend. Interconnectedness between the NASDAQ 100 and Bitcoin continued at the start of the week. While the Dow and the S&P500 closed out the day in the red, the NASDAQ 100 ended the day flat, providing much-needed support.
For Bitcoin and the broader crypto market, avoiding heavy losses amidst the threat of a Russian invasion of the Ukraine was key.
On Monday, theBitcoin Fear & Greed Indexhad risen from 44/100 to 46/100 in spite of Bitcoin falling for a 4thconsecutive day on Sunday. This morning, the Index held steady at 46/100 despite Bitcoin’s Monday gain.
Near-term, the Index trend will be key. The Index will need to move back through last week’s 54/100 high to bring $50,000 levels back into play for Bitcoin.
For the day ahead, news updates from Russia and the U.S will need continued monitoring.
At the time of writing, Bitcoin was up by 0.08% to $42,586. Avoiding a fall through the day’s $42,330 pivot would support a run at the first major resistance level at $43,079. Bitcoin would need plenty of support to break back through to $43,000 levels, however. In the event of an extended rally, Bitcoin could test the third major resistance level at $44,882 before any pullback. The second major resistance level sits at $43,606.
A fall through the pivot would bring the first major support level at $41,803 into play. In the event of an extended sell-off, sub-$40,000 levels would likely come into play. The second major support level sits at $41,054.
Looking at the EMAs and 4-hourly candlesticks (below), the signal has become more bullish. Bitcoin has broken out from the 50-day EMA, which has pulled away from the 200-day EMA. The 100-day EMA has also narrowed on the 200-day EMA. A bullish cross of the 100-day EMA through the 200-day EMA would support a breakout day. Key, however, would be for Bitcoin to avoid falling back through the 50-day EMA, currently at $42,400.
Thisarticlewas originally posted on FX Empire
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• SEC Slaps $100 Million Penalty on Dapp in Its Largest-Ever Fine || LEASH Rises by 105% As Shiba Inu Enters the Metaverse: While the crypto market is still struggling to recover from the bear slap of November, December, and January, tokens such as the Doge Killer are managing to paint more than 100% rises in 48 hours. Partly or possibly even entirely thanks to the meme trend of crypto where Dogecoin and Shiba Inu can flip a coin into success at any given time, and thus they did with LEASH as well. UnLEASHed In these last 3 days, a relatively lesser-known token called the Doge Killer managed to make headlines after rallying at a phenomenal rate. The altcoin which was trading at $845 on February 6 began climbing on February 7 and continued the rally over the next 48 hours to close the green candle at $1,737. This marked a 105% incline in 2 days, adding to the 117.2% growth over the week. For those wondering what Doge Killer is, it’s basically an ERC-20 token that was launched as a rebase token pegged to the price of Dogecoin. Instead, after it began its crazy rally last year where it crossed the $4000 milestone, it was removed as a rebase and given its own identity. Despite coming into existence less than a year ago in April 2021, one of the biggest reasons for its success is its rarity. Same as it goes with other cryptocurrencies and NFTs, Doge Killer is available in a limited quantity, a very limited one on top of that. While 21 million Bitcoin exists in the world, only 100k LEASH tokens circulate in the market. Plus being a namesake of Dogecoin naturally makes it a must-have for the meme coin loyal community. Thus, its price. Why the Rally Though? The sudden bullishness observed in the price action did not come from the coin itself but instead was the result of Shiba Inu . The memecoin announced its plans of joining the Metaverse by developing one of its own codenamed Shiberse. Furthermore, they launched Shiba Lands which are basically lands found inside the Metaverse that will be available for auction and sale soon. Here’s how LEASH becomes a part of this. Shiba Inu is designing a queue system for the sale of these Shiba Lands and the queue is exclusively accessible by only those who happen to be holders of the LEASH token. This is why the coin rallied as much as it did. Story continues Put simply, Shiba Inu truly managed to knock two birds with one stone with its Shiberse announcement with SHIB itself rising by over 60% over the last 5 days. This article was originally posted on FX Empire More From FXEMPIRE: USD/CAD Pulled Back Ahead of Tomorrow’s US CPI Data Economic Forecasts and Economic Data Put the EUR and Dollar in the Spotlight USD/CAD Remains Stuck In A Tight Range Silver Prices Consolidate as Yields Retreat Why Chipotle Mexican Grill Stock Is Up By 9% Today Report: Bitcoin Donations Aids Ukraine’s NGOs Activities || FOREX-Dollar up, euro down as pair face off in rate hike tussle: * Euro falls back after surging last week * Analysts say ECB turn is big deal for single currency * Dollar edges down, traders await Thursday CPI data (Adds fresh prices) By Herbert Lash NEW YORK, Feb 7 (Reuters) - The dollar and the euro both eased on Monday after European Central Bank President Christine Lagarde calmed market expectations of a quick hike in interest rates that pushed regional bond yields in Europe up to multi-year highs. There is no need for big monetary policy tightening in the euro zone as inflation is set to decline and could stabilize around the ECB's target of 2%, Lagarde told a European Parliament hearing. Last week the ECB opened the door to a rate hike later in 2022 as inflation risks rose, while data showing an unexpected jump in U.S. jobs created in January also raised speculation of a faster timetable for the Federal Reserve to hike rates. The new rate expectations for both the Fed and ECB pit the dollar and euro against each other as to which will gain an upper hand. U.S. consumer price data to be released on Thursday is poised to be a key data point determinant. "The euro-dollar will be in a kind of tug of war between these two forces, but ultimately with CPI in the U.S., we're probably due for a bit more of a dollar recovery," said Kathy Lien, a managing director at BK Asset Management. A Reuters poll of economists showed they expect year-over-year CPI to have climbed to 7.3% in January. The major currencies traded in a tight range near break-even. The dollar index fell 0.045%, with the euro down 0.03% to $1.1443. The ECB last week got the ball moving in a positive direction for the euro, said Joe Manimbo, senior market analyst at Western Union Business Solutions. "Now the focus has shifted to U.S. inflation, which the market will use to figure out whether the Fed goes by 25 basis points or 50 basis points next month," Manimbo added. Markets have now priced in a one-in-three chance the Fed might hike by a full 50 basis points in March, and a reasonable chance rates will reach 1.5% by year end. The European common currency hit its highest since mid-January on Friday, driven by the hawkish turn from the ECB. Not everyone is convinced of a hawkish ECB tilt. "We don't believe the ECB is bracing for a sudden acceleration of tightening. We still see the Fed as being on track to move well ahead of the ECB, providing support for the dollar," said Mark Haefele, chief investment officer at UBS Global Wealth Management. Haefele said he expects the euro to fall to $1.10 by year-end and the dollar gaining versus the Swiss franc to finish the year at 0.98 francs per dollar, from 0.92 currently. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was down 2.4 basis points at 1.298%. The yield on two-year German bonds fell by 3.5 bps to -0.29%, after hitting its highest since September 2015 at -0.21%. The Japanese yen strengthened 0.13% versus the greenback at 115.06 per dollar, while sterling was last trading at $1.3536, up 0.05% on the day. Bitcoin rose to a four-week high, driven in part by liquidation of some short positions that have accumulated in the virtual currency's recent three-month downtrend. The cryptocurrency climbed 8.94% to $44,279.81, after jumping 11% late on Friday. ======================================================== Currency bid prices at 3:00PM (2000 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Dollar index 95.3960 95.4410 -0.04% -0.279% +95.6350 +95.3530 Euro/Dollar $1.1442 $1.1451 -0.07% +0.66% +$1.1474 +$1.1415 Dollar/Yen 115.0650 115.2100 -0.12% -0.04% +115.3750 +114.9150 Euro/Yen 131.66 131.90 -0.18% +1.03% +132.1300 +131.2700 Dollar/Swiss 0.9234 0.9254 -0.22% +1.23% +0.9262 +0.9223 Sterling/Dollar $1.3537 $1.3525 +0.10% +0.10% +$1.3550 +$1.3492 Dollar/Canadian 1.2662 1.2769 -0.82% +0.16% +1.2756 +1.2661 Aussie/Dollar $0.7128 $0.7078 +0.73% -1.92% +$0.7130 +$0.7066 Euro/Swiss 1.0565 1.0592 -0.25% +1.89% +1.0604 +1.0551 Euro/Sterling 0.8451 0.8464 -0.15% +0.60% +0.8478 +0.8439 NZ Dollar/Dollar $0.6639 $0.6615 +0.38% -2.99% +$0.6641 +$0.6602 Dollar/Norway 8.7785 8.7805 +0.20% -0.13% +8.8555 +8.7800 Euro/Norway 10.0463 10.0676 -0.21% +0.33% +10.1168 +10.0300 Dollar/Sweden 9.1269 9.1532 -0.33% +1.21% +9.1736 +9.1168 Euro/Sweden 10.4439 10.4785 -0.33% +2.05% +10.4887 +10.4360 (Reporting by Herbert Lash; Additional reporting by Tommy Wilkes in London; Editing by Andrea Ricci and Alison Williams) || Gold Standard DAO | Creating a Sustainable Platform with Dynamic Taxation and Gold Standard: ZURICH, SWITZERLAND / ACCESSWIRE / January 25, 2022 / Gold Standard DAO is cruising high after partnering with LODE and completing its first presale. A sustainable tokenomics and tax structure followed by the highly successful presale to create a solid foundation for the platform to build further, Gold Standard DAO or GSDAO aims to leverage the stability of gold and help people secure their money, making it immune to market fluctuations and disturbances. The users will buy the $GSD token, but the tokens will be backed by real physical gold kept safely in special vaults. The project is launching soon, public sale followed by mainnet launch will take place within Q1 2022. A Solution for Trading in Gold Gold trading and investing against the metal has its issues, which the Gold Standard aims to solve. It decentralizes the entire system and turns it into a self-governing environment leaving out the policymakers from deciding the fate of the value of gold at any point. No Centralized Authority With the Gold Standard DAO, gold does hold its dynamism in terms of price, but it happens without the intervention of any single centralized authority. With GSDAO and blockchain integrated into this system, users enjoy more control over their investment and enjoy a better outcome. As more users add tokenized gold in the treasury, the total value locked (TVL) increases, and the Annual Percentage Yield (APY) drops. When people sell from the treasury, it creates a dynamic impact leading to an increase in the APY, attracting more investment. This stabilizes the system and prevents it from going up and down too much. Working Of GSDAO Each $GSD token is backed by 1 milli-ounce of tokenized gold in the treasury. The platform's protocol is created in a way that the $GSD's fair traded value is more than the intrinsic value of gold kept safely in the vaults. Minting New $GSD Tokens New $GSD tokens will be minted only when there is enough bullion to support the new tokens. This will make sure that there is no unwarranted minting of the tokens that can easily reduce the price by way of supply and demand disequilibrium. The Gold Standard DAO will launch within Q1 2022 on Avalanche initially then migrate to the Syscoin network when the Syscoin layer 2 is ready in a few months. Story continues Bonds and Staking on GSDAO Staking is a primary activity users can undertake to earn more $GSD. The $GSD tokens can be staked to earn rebase rewards, which in turn, comes from the bond sales. The users will stake $GSD in the predetermined protocol, and they will be rewarded according to the rates set by the monetary policy. Introducing Dynamic Buying and Selling Tax The selling tax is implemented to ensure the balance in the ecosystem, preventing losses for the investors even after some users decide to pull back their investments after profits. As it's a decentralized system, Gold Standard DAO cannot stop the participants from withdrawing their contributions. So, a better way around is to introduce a tax that will feed the withdrawn portion back into the system. The purpose is to ensure that users have the freedom to decide what they wish to do with their investment while maintaining the treasury health. How will the Buy and Sell Tax Be Implemented? Both types of taxes are there to protect the treasury health. The sell tax will increase when the price falls while decreasing the buy tax. Both types of taxes are dynamic and will adjust according to the position and health of the platform. When the buy tax is less, it will incentivize buying, bringing more investors as some have decided to leave. Key features: Gold Standard DAO has worked to build and run sustainable plus longevity-oriented protocol. GSDAO further aims to innovate and evolve its protocol and its functioning by expanding the treasury asset options. Interest Bearing Tokens: In addition to digital Gold (AUX), the protocol will allow the acceptance of Interest Bearing Tokens into the treasury. Interest bearing assets are fully collateralized representations of their own respective cryptocurrencies while at the same time providing users with a base interest rate just by holding them. NFT Auction: The plan is to organize weekly / fortnightly NFT auctions with NFTs created by a few renowned artists to strengthen the treasury. These NFTs should be unique and very limited. Participants can only bid on the NFTs by using $GSD tokens. A big percentage of the $GSDs raised from the NFTs will go straight to the treasury. The idea is to incentivise purchasing of $GSDs and increase buying pressure while benefiting the treasury. More innovative features will be added to the protocol to introduce additional use cases to benefit the treasury and protect the project against inflation. Partnerships To provide the required momentum to the entire system, GSDAO has partnered up with LODE and Syscoin Foundation. LODE LODE is an audited/registered Swiss corporate legal entity and is the primary supplier of AUX digital gold to the GSDAO treasury. Each AUX coin is backed by one milligram of 99.99% investment grade, vaulted and insured gold bullion. LODE then mints each AUX Coin and sells those coins into the global marketplace for sending, spending, trading, and storing value. Syscoin Foundation The Syscoin network is a decentralized and open source project founded in 2014 by the founders of Blockchain Foundry. Syscoin's value is in its security, speed and close ties to the Bitcoin codebase with scalability in mind and flexibility of the Ethereum chain. Conclusion Working on the principles of DAO, the Gold Standard DAO takes an innovative turn and will become the first platform of its kind on Syscoin. The users buying the $GSD token will get an assurance for their investment via real physical gold pegged to the tokens and reserved in vaults across the globe. The users will benefit from a new smart chain along with enjoying a stable currency platform getting assured returns on their investments.The Gold Standard DAO is set to launch within Q1 2022, exact dates will be announced on its website and social media platforms. Media Contact: Arthur Rothschild - Gold Standard DAO Website: www.gsdao.org Email: [email protected] PR - Cryptoshib.com Email - [email protected] SOURCE: Gold Standard View source version on accesswire.com: https://www.accesswire.com/685328/Gold-Standard-DAO-Creating-a-Sustainable-Platform-with-Dynamic-Taxation-and-Gold-Standard
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 40122.16, 38431.38, 37075.28, 38286.03, 37296.57, 38332.61, 39214.22, 39105.15, 37709.79, 43193.23
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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 2022-08-29]
BTC Price: 20297.99, BTC RSI: 36.75
Gold Price: 1736.60, Gold RSI: 41.69
Oil Price: 97.01, Oil RSI: 55.56
[Random Sample of News (last 60 days)]
Bitcoin Miner SAI.TECH Halts Kazakhstan Expansion, Citing Operation and Cost Uncertainties: Singapore-based bitcoin miner SAI.TECH (SAI) has terminated the remainder of its plans to expand into Kazakhstan, according to anSEC filing.
• The scrapped plans involved a second phase of 90MW power supply cooperation in Kazakhstan, which was a part of a 2021 agreement with Better Tech Limited.
• In May,SAI.TECHnoted concern from power partners and hosting customers regarding operation stability and cost uncertainties in relation to doing business in Kazakhstan. Operations had already been delayed due to the national riots in Kazakhstan that started in January 2022.
• A slew of companiesmoved mining operations to Kazakhstanfollowing China's decision to ban crypto mining last year, which prompted the landlocked nation in central Asia toclamp downon illegal crypto mines andincrease taxeson the industry.
• The Kazakh government alsoordered all crypto miners to register with authoritiesas the country faced electricity shortages.
• While SAI.TECH's second phase of 90MW power supply has been halted, it will continue to execute the first phase, which began in August 2021 and has 15MW of capacity. || Texas Bitcoin Mine Whinstone Countersues Japan's GMO Internet, Seeks $15M Damages in Four-Year Dispute: Riot Blockchain (RIOT)'s Whinstone bitcoin (BTC) mine is seeking at least $15 million in damages from Japanese tech firm GMO Internet as a dispute over usage of facilities extends into a fourth year, according to a Mondayfilingin the U.S. District Court for the Southern District of New York.
The lawsuit follows GMO Internet's June 10claim, filed in New York Supreme Court, for $50 million of losses resulting from Whinstone's alleged failures in hosting GMO machines at sites in Louisiana and Texas and overcharging for power.
The dispute refers to events that started in 2018, but appears to have been exacerbated by more recent developments. The higher power costs of recent months have seen hosting companies charge more for electricity to run the machines. It's a wrangle that has already in part prompted a lawsuit betweenCompass Mining and Dynamics Mining.
According to GMO's complaint, the Louisiana site started running three months late and had capacity for 385 machines rather than the almost 66,700 agreed upon. The site was shut down in July 2019 because it couldn't secure enough power to operate, according to GMO.
The two agreed to build a new data center in Texas and host GMO's machines there. The Japanese firm agreed to continue giving Whinstone its business under terms that included a lower hosting fee and repayment of its original deposit along with "loss of profits from by power suspension," according to the contract provided by GMO.
Whinstone, which operates the mine in Rockdale, Texas, disputed the facts of events related to the Louisiana site and denied the allegations. The site of the facility, slated to be one of the world's largest bitcoin mines, was purchased by Riot Blockchain in 2021.
Talks to resolve a dispute over losses GMO suffered due to a "power shortage" were paused when Riot acquired the facility, according to GMO. Given the decrease in hosting fees, it looked like the Japanese company was asking for $3 million for the power shortage losses, until April this year, when it asked for $35 million, Whinstone said.
Whinstone claims it is owed damages for failure to agree on a new contract, and for power purchased for use by GMO that hasn't been used.
Read more:Bitcoin Miner Riot Blockchain Delays Earnings Report to Sort Out How Much Crypto Rout Devalued Its Assets || HUMBL ANNOUNCES ENTRY INTO AGREEMENT TO ACQUIRE AGORA DIGITAL IN ALL STOCK TRANSACTION: HUMBL, Inc. COMBINED FINTECH COMPANY W OULD OFFER A SUITE OF CONSUMER AND ENTERPRISE BLOCKCKHAIN PRODUCTS , ALONG WITH DIGITAL ASSET MINING SOLUTIONS HUMBL CO NTINU ING STRATEGIC PLAN TO TAKE STEPS NEEDED TO UPLIST TO A NATIONAL EXCHANGE San Diego, California, Aug. 11, 2022 (GLOBE NEWSWIRE) -- HUMBL, Inc. (“HUMBL” or the “Company”) (OTC Markets: HMBL) announced today that it has executed a definitive agreement to acquire Agora Digital Holdings, Inc. (“Agora Digital”), a blockchain technology company focused on Bitcoin mining. Agora Digital is a majority owned subsidiary of Ecoark Holdings, Inc. (“Ecoark”) (NASDAQ: ZEST). The closing of the acquisition is subject to satisfaction of certain closing conditions. The primary closing condition is that Ecoark and its executive team are required to source a minimum of $10,000,000 in capital for HUMBL prior to the transfer of ownership of Agora Digital to HUMBL. The owners of Agora Digital would receive $60,000,000 in a new class of preferred stock in consideration for selling their interests in Agora Digital. Additional details will be provided at a future date via a Form 8-K to be filed by the Company with the definitive agreement and other transaction documents. HUMBL believes this acquisition will be beneficial for two primary reasons. First, Agora Digital has secured significant power contracts and has developed scalable infrastructure for Bitcoin mining in an ESG sensitive manner. Upon securing the funding required to close, a portion of those funds can be used to generate revenues for HUMBL through Bitcoin mining. Second, Agora Digital’s management team has deep experience running public companies and has gone through the exchange uplisting process. They are being brought on specifically to lead the uplisting of HUMBL to a national securities exchange. Upon completion of the transaction, Brad Hoagland will be appointed as CEO and Brian Foote will move to an Executive Chairman role. Brad will focus on running day-to-day operations and leading the uplisting process. Brian will still be intimately involved with HUMBL and will be freed up to focus on product ideation, design, sales, business development, blockchain technology, media relations and creating and implementing the Company’s strategic vision. Story continues “Agora Digital provides an instant entry for HUMBL into digital asset mining,” said Brian Foote, Chairman and CEO of HUMBL. “Furthermore, with the addition of Brad Hoagland, CEO of Agora Digital, HUMBL obtains a C-Level executive who has successfully uplisted a company from the OTC to a national securities exchange and has acted as an officer of a NASDAQ company. This transaction is the next step of the strategic plan to put HUMBL in the best position to apply to uplist to a national securities exchange and deliver a full Web 3 stack of consumer, enterprise and mining products into the public markets.” “We believe that decentralized blockchain technologies will be a significant driver of financial market innovation over the next decade,” said Brad Hoagland, CFA, CEO of Agora and Board Member of HUMBL. “HUMBL’s Web3 consumer and enterprise product stacks are the perfect complement to Agora’s power infrastructure and digital asset mining capabilities. I am looking forward to taking a key role in the new combined company in order to position HUMBL for long-term success across a full stack of blockchain products and services in the public markets.” About HUMBL HUMBL is a Web 3, blockchain platform with consumer products and commercial services. About Agora Digital Agora Digital is a Bitcoin mining and blockchain technology company with power contracts and scalable infrastructure in West Texas. The company is pursuing bitcoin mining projects in both North and South America. Safe Harbor Statement This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company's ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company's control. CONTACT: [email protected] || Aggressive Rate Hikes Still Necessary, Say Fed’s Evans and Kashkari: The Federal Reserve will likely continue to raise interest rates aggressively, even though Wednesday’s inflation data was a positive step, said Chicago Fed President Charles Evans. Minneapolis Fed President Neel Kashkari agreed, saying it was unrealistic to expect easing anytime soon.
Bitcoin (BTC) jumped 2% following news that theinflation rate slowed to 8.5%in July from 9.1% one month earlier. Ether (ETH) surged 7%, as investors placed bets the Fed might ease off its pace of 75-basis-point rate hikes.
Indeed, traders now see a 65% chance of a 50-basis-point rate hike in September, according to the CME FedWatch Tool, rather than another 75-basis-point increase, which was the likelier scenario just a day ago.
“I expect that we will be increasing rates the rest of this year and into next year to make sure inflation gets back to our 2% objective,” Evans said during an event hosted by Drake University in Des Moines, Iowa, on Wednesday. While inflation did slow a bit, the pace remains at an “unacceptable high,” he added.
Charles Evanssaid he expects the target range for the fed funds rate – currently at 2.25% to 2.5% – to rise to 3.25% to 3.5% by the end of the year, and 3.75% to 4% by the end of 2023.
Colleague Kashkari is more hawkish, expecting the Fed funds rate to rise to nearly 4% by the end of this year and almost 4.5% by the close of 2023. Today’s data and the strong jobs report from last week didn’t change his anticipated rate-hike path, he said at the Aspen Ideas Conference on Wednesday.
As for the U.S. central bank trimming rates in early 2023, Kashkari called that idea “unrealistic” until the Fed is convinced inflation is “well on its way” back down to the 2% target. || FOREX-Downturn fears support dollar, Aussie slumps to two-year low: By Iain Withers LONDON, July 1 (Reuters) - Gathering gloom about prospects for the global economy lifted the safe-haven dollar on Friday and pressured risk-sensitive currencies, with the Australian dollar tumbling to a two-year low. Rampant inflation and a rush by central banks to raise rates and stem the flow of cheap money has fuelled sell-offs across markets and lifted assets seen as safer bets. Fresh data on Friday showed euro zone inflation hit another record high in June, while separate statistics showed manufacturing production in the bloc fell for the first time in two years. The dollar index - which tracks the greenback against six counterparts - is on track for a nearly 1% weekly gain, and was last up a quarter of a percent on the day at 105.020. "It's a risk-off start to the second half of the year with equities and commodities down, so the dollar is stronger pretty much across the board," said Kenneth Broux, an FX strategist at Societe Generale in London. "The Fed is committed to bring inflation under control but can it deliver a soft landing?" The U.S. Federal Reserve has lifted rates by 150 basis points since March, with half of that coming last month in the central bank's biggest hike since 1994. The market is betting on another of the same magnitude at the end of this month. The odds were extremely low that the United States would slide into recession without dragging the rest of the world with it, RBC Capital Markets strategists said in a note. More risk-sensitive currencies fell across the board. The Australian dollar and New Zealand dollar both fell by more than 1% on the day, with the Aussie falling by as much as 1.6% to $0.67905, its lowest since June 2020. The Reserve Bank of Australia decides policy on Thursday, and markets expect a half point hike to its key rate. But that has not helped the Aussie much, which has instead tracked commodity prices lower as the global economic outlook deteriorates. Story continues Sterling fell as much as 0.8% to $1.20770, a day after official data showed a record shortfall in Britain's current account deficit in early 2022. The euro slipped by as much as 0.5% to $1.04330. It was last down 0.3% at $1.04545. The European Central Bank is expected to raise interest rates this month for the first time in a decade, although economists are divided on the size of any hike. The Japanese yen gained as much as 0.75% on the day, pulling away from a mid-week low of 137.00 - its weakest in 24 years. It was last up a quarter of a percent at 135.415 yen per dollar. In cryptocurrencies, Bitcoin resumed its slide lower, slipping 2% to trade just above $19,000. (Reporting by Iain Withers, additional reporting by Saikat Chatterjee in London and Kevin Buckland in Tokyo; Editing by Alex Richardson) || 7 Stocks to Sell Before the Next Black Swan Event: A Black Swan is a rare, catastrophic event that hits the stock market and causes it to crash, unleashing terrible losses for investors. Examples of Black Swan Events include the Black Monday crash of 1987, the dot-com bubble bursting in 2001, the 2008 financial crisis, and the pandemic crash that occurred in March 2020. The term Black Swan was given to these events by former Wall Street trader Nassim Nicholas Taleb , who wrote a book titled The Black Swan that was published in 2007. Ironically, Talebs book arrived just months before the 2008 financial crisis that caused stock markets around the world to crash. The central argument of Talebs book is that, because any Black Swan event is impossible to predict but can have devastating consequences, investors should always assume that such an occurrence is a possibility and position their portfolio to withstand Black Swans. With that in mind, we offer the following seven stocks to consider selling before the next Black Swan Event roils markets and sends share prices plunging. InvestorPlace - Stock Market News, Stock Advice & Trading Tips GME GameStop $35.32 C Citigroup $51.17 COIN Coinbase $74.26 CCL Carnival $9.52 PYPL PayPal $94.55 GPS Gap $9.82 AAL American Airlines $13.80 GameStop (GME) GameStop (GME stock) logo on the outside of a store Source: Emil O / Shutterstock.com Investors probably dont want to hold meme stocks in their portfolio the next time the market crashes. Indeed, they probably shouldnt even own meme stocks during bull runs. But discussions of risk aside, the stocks of companies such as video game retailer GameStop (NYSE: GME ) that are losing money, struggling to sell their products online, and subject to frequent short squeezes by retail investors, are the kinds of securities that get trampled when markets plunge and panicked investors stampede for the exits. Case in point: Between March and May of this year, at the height of the market downturn, GME stock fell 57%, far outpacing the 20% loss of the S&P 500 index and the 30% decline of the Nasdaq . Story continues Of course, big runs up and down are nothing new for GME stock, which tends to rise and fall in sympathy with other meme stocks. GameStops share price recently fell nearly 10% after fellow meme play Bed, Bath & Beyond (NASDAQ: BBBY ) dropped more than 40% on news that the activist investor Ryan Cohen, who is chairman of GameStop, sold his entire stake in BBBY. GameStop also continues to issue disappointing earnings reports and is having a difficult time making the switch from a brick-and-mortar retail chain to a primarily online retailer of video games and related products. This is not a stock investors want dragging down their portfolios during a Black Swan Event. Citigroup (C) A Citibank (C) sign hangs on a Citibank office in Hong Kong. Source: TungCheung / Shutterstock.com Big multinational banks that have exposure to many different countries tend to take it on the chin whenever financial markets around the world melt down . A financial crisis in Japan, a run on the banks in the Philippines, or a war in Europe can lead to losses at many of the largest banks in the U.S., which have operations in many different foreign markets. For this reason, banks that are solely based in the U.S. or have a presence in a specific region of America tend to see their stocks outperform in a crisis as their balance sheets are more insulated and less exposed to a Black Swan Event that wreaks havoc across financial systems and stock markets. Among the biggest U.S. banks, Citigroup (NYSE: C ) has the most international exposure, making it particularly vulnerable. For example, Citigroup had more exposure to Russia than any other U.S. bank. In a regulatory filing earlier this year, Citigroup disclosed that it had as much as $10 billion of exposure to Russia and that it faced $4 billion of losses after the Russian military invaded Ukraine and nations around the world imposed crippling economic sanctions on Moscow. Citigroup is also highly exposed to Southeast Asia, though it is trying to reduce its presence in that part of the world, recently agreeing to sell a big chunk of its retail business in Asia to United Overseas Bank for $3.7 billion. Coinbase (COIN) A stack of bitcoin tokens ahead of the Coinbase logo. Source: Useacoin / Shutterstock.com How will cryptocurrencies perform in a crisis? The preliminary indications are not encouraging. Long touted as digital gold and a safe haven for investors in times of turmoil, crypto assets collapsed when stock markets turned south this year. And rather than being a hedge against inflation, cryptocurrencies such as Bitcoin ( BTC-USD ), Ethereum ( ETH-USD ), along with many other digital coins and tokens , fell in tandem with technology stocks . It was a sad situation that threw the whole purpose and value of cryptocurrencies into doubt, making many investors even more skeptical about digital currencies. This brings us to Coinbase (NASDAQ: COIN ), one of the largest cryptocurrency exchanges in the world. Coinbase is more exposed to cryptocurrencies than just about any other company, and its share price tends to move in lockstep with the price of the crypto market. So far this year, BTC, the biggest cryptocurrency, has fallen 55% and COIN stock is down 70% on the year and trading at $74 per share. All of that is occurring as multiple cryptocurrency firms file for bankruptcy protection, fleece investors, or have their deposits stolen by hackers. With many people expecting the next Black Swan Event to be caused by cryptocurrencies, investors might want to get out of Coinbase before things get really ugly. Carnival (CCL) Carnival (CCL) cruise ship on water in front of beach with chairs Source: Companies in the leisure, travel and tourism space seem to be hit by all sides during a crisis. When the economy sours, the first thing consumers do is scale back their travel plans. And in the event of a terrorist attack or a health crisis, such as the 9/11 attacks or the Covid-19 pandemic, the first thing consumers do is scale back their travel plans. The bottom line is that travel and tourism businesses are viewed as optional by most people . And that translates to steep losses during economic downturns in the stocks of companies tied to the leisure industry. During the most recent global crisis the Covid-19 pandemic the shares of cruise ship operators, such as Carnival (NYSE: CCL ), were completely decimated as travelers sought refunds and government agencies such as the Centers for Disease Control and Prevention ( CDC ) effectively shut down their operations. Consequently, Carnival lost more than $10 billion during the pandemic, and its stock was completely obliterated and has yet to recover. So far this year, CCL stock has fallen 65%, and it now trades at $9.56 per share. And thats after the CDC lifted the onerous health restrictions imposed on cruise ships and as the firms bookings for the months and the year ahead improve. Confidence in the stock was truly shaken on June 29 when respected investment bank Morgan Stanley (NYSE: MS ) issued a note to clients. In the note, the firm outlined a scenario in which CCL stock could fall to $0 . The next time that a crisis hits, it can be expected that Carnival stock will once again be walloped. PayPal (PYPL) PayPal logo and front of headquarters Investors are less inclined to speculate when markets are crashing around the world. In times of crisis, investors tend to seek out the stocks of stable, blue-chip companies that have a proven track record in good times and bad. This phenomenon helps to explain the flight from the shares of financial technology company PayPal (NASDAQ: PYPL ) this year. The entire fintech sector has experienced sharp declines since January as investors fled to safety, but PYPL stock has been particularly harmed, down 67% so far in 2022 and currently changing hands at $94.56 per share. The stock is emblematic of the type of richly valued, speculative security that investors shy away from during a market meltdown. It doesnt help that PayPal is heavily exposed to cryptocurrencies, facilitating the buying and selling of digital coins and tokens, and enabling consumers to make purchases with various crypto assets. There are even rumors that PayPal is considering developing its own crypto coin . Being heavily involved in a volatile, speculative industry such as cryptocurrencies also gives investors pause in times of uncertainty and elevated risk. Many investors would rather steer clear of a company like PayPal during a crisis and instead buy the stock of a blue-chip regional bank or another company that is on sounder financial footing. The Gap (GPS) GPS stock: a close up of a Gap logo on a building Source: Shutterstock Again, what do consumers do in an economic or financial crisis? Typically, they cut back on discretionary spending and focus their resources on buying essential goods. And at times, such as during the pandemic, they are also prevented from shopping at retail stores and malls. None of this bodes well for clothing retailers such as The Gap (NYSE: GPS ). The stocks of retailers such as The Gap are known for being cyclical, which means they tend to perform well in good economic times and poorly during downturns. That helps to explain why GPS stock is down 64% this year and trading at $10 per share. Other clothing retailers have suffered similar losses. Making matters worse, discretionary stocks such as The Gap are also sensitive to higher interest rates, elevated gas prices, and supply chain disruptions, and they are heavily exposed to foreign markets, notably in Asia where much of their clothing items are manufactured. In short, GPS stock and others like it can be hit with a perfect storm of negative sentiment when markets are thrown into a tizzy or an unexpected crisis erupts. American Airlines (AAL) American Airlines plane on ramp in Chicago Airport. American Airlines is amongst the airlines cancelling flights Source: GagliardiPhotography / Shutterstock.com The first thing famed investor Warren Buffett did when the Covid-19 pandemic hit in March 2020 was sell all of his airline stocks . It turns out that the so called Oracle of Omaha was once again very prescient in his decision making as airlines struggled throughout the pandemic and their share prices cratered. The International Air Transport Association estimates that the worldwide pandemic cost airlines more than $200 billion. And, as the biggest carrier in the world, Texas-based American Airlines (NYSE: AAL ) suffered more than most. AAL stock is down 25% this year at $13.87 a share. It remains 50% below where it was trading before Covid-19 hit in March 2020. As with cruise lines, air travel is largely viewed as an optional, discretionary item, and consumers tend to scale back their flights during difficult times. And, as weve seen this summer, airlines can be slow to recover and ramp up again coming out of a crisis. In the event that markets again swoon and suffer following another Black Swan Event, investors should expect that airline stocks such as American will be dragged lower and remain depressed for a lengthy period. On the date of publication, Joel Baglole held long positions in C and MS. The opinions expressed in this article are those of the wri ter, subject to the InvestorPlace.com Publishing Guidelines . Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air It doesnt matter if you have $500 or $5 million. Do this now. The post 7 Stocks to Sell Before the Next Black Swan Event appeared first on InvestorPlace . || China exploring blockchain for energy trading: The China Energy Administration (CEA) will explore blockchain-based power trading platforms to facilitate electricity trading between self-contained power generation units and the state and national grids, according to a policy document released last Friday. see related article: The Bitcoin-energy connection intensifies Fast facts Blockchain technologys immutable characteristic can provide transparent and reliable electricity metering and proof of transactions, according to IEEE or the Institute of Electrical and Electronics Engineers. According to the CEA, a state agency responsible for formulating energy policy under the National Development and Reform Commission (NDRC), the policy will explore the possibility for small and medium-sized power generation and storage facilities that service local neighborhoods to trade energy with state and national grids. Chinese software firm Insigma Hengtian Software said in July that the Yunnan province in the southwest of the country awarded it a contract to provide a blockchain-based electricity trading system. Yunnan is rich in hydropower resources and is dotted with small hydropower plants. Before Chinas ban, cryptocurrency miners favored the province for the abundance of energy and cheap costs. The recent drought and heat has already taken a toll on Chinas electricity supply. In the past few weeks, Sichuan province has experienced severe power crunches , with massive industrial and residential power cuts. One of the main reasons is the drought has drained local reservoirs and reduced the regions power pillar, hydropower, by over a half . see related article: Heres why Australia cant use its empty deserts to mine Bitcoin || Former Crypto Adviser Michael Barr Confirmed as Top US Financial Watchdog: Michael Barr, a former Ripple adviser, is set to assume one of the most important U.S. regulatory roles after winning Senate confirmation to be vice chairman for supervision at the Federal Reserve.
Barr, who was a key Treasury Department official during the administration of former President Barack Obama, will take over as the leading U.S. banking watchdog, where he’ll have a say in how the traditional financial system interacts with cryptocurrencies – especially stablecoins, the lifeblood of crypto transactions.
President Joe BidennominatedBarr in April for what could be the most powerful job in financial regulation. The Senate confirmed his nomination Wednesday in a 66-28 vote. The Fed supervises Wall Street banking and – since the 2010 Dodd-Frank Act – also has a duty to oversee nonbank financial firms that play an outsized role in the financial system. Though he’ll technically be outranked by Fed Chair Jerome Powell, the chairman has said publicly that he’ll defer to the vice chair on financial oversight matters.
Barr will have an influential voice in global standard-setting organizations and at home on the U.S. Financial Stability Oversight Council, which is considering how to approach stablecoins. If that council of agency chiefs formally declares the tokens a systemically important financial activity, the group can push member agencies such as the Securities and Exchange Commission to regulate them. Barr will also be arriving in the wake of the terraUSDimplosion, which could lend some fuel to the government’s efforts to put up guardrails.
Barr, who is currently the public policy school dean at the University of Michigan Law School, will also arrive at the Fed with a significant crypto background, having served on the advisory board at Ripple Labs. When he took that job in 2015 he said that he thought "innovation in payments can help make the financial system safer, reduce cost and improve access and efficiency for consumers and businesses alike.”
However, the crypto industry may not be assured that an unabashed ally is taking the wheel. Barr is widely seen as a consumer advocate who supports aggressive regulation, favoring the interests of individuals over financial firms. And there’s some record of his crypto doubts.
A 2020paperhe co-authored cited research that assets such as bitcoin (BTC) “not only generate huge mining costs, but are also inefficient in their long-run design.”
During his tenure, the Fed is also expected to decide whether to issue a digital dollar – a move that could send shockwaves through the crypto industry. Barr’s academic work has suggested a central bank digital currency (CBDC) could boost the government’s financial inclusion aims. If such a CBDC is produced, its effect on private, dollar-based stablecoins could be profound.
Barr's confirmation enjoyed wide bipartisan approval, with a number of Republicans voting to give him the job. Such an outcome wasn’t necessarily assured for this key financial post. The previous nominee – Sarah Bloom Raskin, another Treasury veteran who had already served on the Fed board –had to withdrawafter vigorous opposition.
Read more:Digital Dollar Could Be Good for Financial Stability, US Federal Researchers Say || Occidental Petroleum Is Still a Great Way to Play High Energy Prices: Trading sideways after pulling back last month, you may think the party’s over for shares inOccidental Petroleum(NYSE:OXY). Yet while it may seem as if OXY stock, following its comeback from late 2020 through mid 2022, will disappoint from here, take a look at the details. There’s much to suggest that will not be the case.
Yes, given it went from being on the brink, to reporting windfall earnings, it’ll likely not see another triple-digit percentage run, like it did during the aforementioned timeframe. It could, however, still deliver strong returns to your portfolio.
How? Undervalued based on its current price-to-earnings (P/E) multiple, it could move higher as it becomes clear oil and gas prices will stay elevated for the time being. In addition, the earnings produced by high energy prices will enable it to further improve its balance sheet. This too will help justify higher prices.
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[{"Ticker": "OXY", "Company": "Occidental Petroleum", "Recent Price": "$58.14"}]
Crude oil prices are down around 20% since June. Growing fears of a recession have the market worried about lower global demand for oil. This lessening of demand could outweigh possible future supply shock drivers. Namely,further efforts to retaliate economicallyagainst Russia for its invasion of Ukraine.
Even so, while oil may not hit a new multi-decade high, as you likely know full well whenever you fill up your car, energy prices remain well above where they were at the start of 2022. The U.S. Energy Information Administration (EIA) forecast continues to call for crude oil prices to fall to$89.75 per barrel next year, yet that’s still up compared to early 2022, and well above prices seen in 2020 and in much of 2021.
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This of course bodes well for OXY stock. As I mentioned last month, high oil prices will help keep itsearnings at or near what’s been recently reported. This may not just help sustain today’s valuation, it could help expand it, as it becomes more clear high energy prices are here to stay.
Furthermore, continued strong earnings mean something else that’s good news for Occidental Petroleum investors: more improvement of its fundamentals.
Thanks to the recovery and boom in energy prices, this oil and gas company went fromthe brink of bankruptcy, to high profitability, in a very short time frame. This change in its fortunes paid off for investors who went against the grain, and bought OXY stock when things looked the most bleak.
Again, the types of moves Occidental shares have made in the past two years may not repeat themselves anytime soon. That said, even as it has gone from floundering to thriving, the company isn’t done enhancing shareholder value. Its putting the high earnings it’s generating today to work, to further clean up its balance sheet.
In past coverage, I’ve touched on Oxy’s debt reduction efforts. In 2021, it reduced its long-term debt by $6.4 billion. This year, it has reduced debt by another $8.1 billion so far. Lower debt means higher cash flow. It also means more cash available to buy back stock, and raise its dividend.
But beyond just that, a cleaner balance sheet makes Occidental a stronger, higher-quality oil and gas company. Going forward, this could also result in higher prices for shares.
Occidental Petroleum stock earns an “A” rating in myPortfolio Grader. As the market digests possible changes in oil demand, shares could continue to hold steady at current price levels.
Nevertheless, per the EIA, crude oil is likely to stay well above prior year levels through 2023. This means earnings should remain strong, and there should be enough cash flow to enable it to get its financial house in order.
Occidental is now consistently profitable. It has a stronger balance sheet than it did going into the pandemic. All of this stands to enable the stock to move higher. Remember, before it hit its multi-year rough patch, this stock traded for more than $85 per share. It has more runway than it seems on the surface.
If you believe high energy prices aren’t going away, OXY stock is still one of the best ways to make this wager.
On the date of publication, Louis Navellier had a long position in OXY. Louis Navellier did not have (either directly or indirectly) any other positions in the securities mentioned in this article. InvestorPlace Research Staff member primarily responsible for this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.
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The postOccidental Petroleum Is Still a Great Way to Play High Energy Pricesappeared first onInvestorPlace. || 16 People Who Became Crypto Billionaires: There's no shortage of stories about smart or lucky investors making millions of dollars from well-timedcrypto trades, particularly in the pre-winter boom years. The people who built the systems, developed the software and founded the companies that those investors use, on the other hand, earned not millions, but billions.
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The world of blockchain billionaires is a very small and exclusive fraternity. Not only aren't there many of them, but their ranks include several partners who both got rich at the same time after co-founding the same company together.
Keep reading tomeet the crypto billionaireswho made a fortune building the blockchain world that many mainstream Americans are just learning about now.
Net worth:$1 billion
Fred Ehrsam first learned about digital currency as an avid "World of Warcraft" player. In 2012, he co-founded Coinbase with Brian Armstrong, who also appears on this list. Coinbase went on to become the biggest cryptocurrency brokerage in America.
According to Forbes, Ehrsam still owns 6% of the company and sits on the board despite leaving Coinbase in 2017. One year later in 2018, he founded the crypto investment firm Paradigm.
Net worth:$1 billion
Michael Saylor was a billionaire, then he wasn't, and now he is again. The MIT grad and former rocket scientist founded the business analytics software firm MicroStrategy in 1989. He rode the dotcom wave to a 10-figure net worth until the dotcom bust ended his stint as a billionaire.
According to Forbes, he reclaimed membership in the three-comma club with a well-timed purchase of tens of thousands of bitcoins.
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Net worth:$2.2 billion
Few billionaire crypto pioneers go back as far as Jed McCaleb, who founded Mt. Gox in 2010 as the first legitimate cryptocurrency exchange. Mt. Gox has been a notorious part of crypto folklore since the exchange was hacked in the tumultuous early days of Bitcoin.
McCaleb sold Mt. Gox one year before the hack. Two years later in 2012, he co-founded Ripple with Chris Larsen -- more on him shortly -- and according to Forbes, that's where he made his real money. McCaleb received 9 billion XRP as a Ripple founder, and it's estimated that he still owns 3.4 billion, which represents the bulk of his wealth.
Net worth:$2.2 billion
Blockchain billionaire Devin Finzer made his fortune not in cryptocurrencies, but in NFTs. The CEO and co-founder of the NFT marketplace OpenSea, Finzer previously worked as a software engineer for Pinterest.
In 2021, when investors valued his company at $13.3 billion, Finzer and OpenSea co-founder Alex Atallah became the world's first NFT billionaires, according to Forbes.
Net worth:$2.2 billion
OpenSea co-founder and CTO Alex Atallah shares the title of the world's first NFT billionaire with fellow co-founder Devin Finzer. Both he and Finzer own an estimated 18% of the $13.3 billion NFT marketplace, according to Forbes.
Net worth:$2.4 billion
Nikil Viswanathan co-founded Alchemy with Joe Lau in 2020, and today, thousands of blockchain and Web3 companies rely on the company's software. Before founding Alchemy, the duo -- both Stanford grads -- built Down to Lunch, a meetup app that at one point was No. 1 in the Apple Store.
Net worth:$2.4 billion
Joe Lau -- not to be confused with Hong Kong real estate magnate and fellow billionaire Joseph Lau -- co-founded Alchemy in 2020 and currently owns a 26% stake, according to Forbes. The company spun off Alchemy Ventures in 2021 to invest in its current clients' crypto endeavors.
Net worth:$2.6 billion
Coinbase Global is the largest crypto exchange in America, and as CEO, Brian Armstrong is in charge of it all. Armstrong was way out in front of the crypto trend. The former Airbnb software engineer co-founded Coinbase at the dawn of the crypto era in 2012 with Fred Ehrsam.
The company went public in 2021 and is traded on the Nasdaq. At one point, Coinbase briefly topped a market cap of $100.
Net worth:$3.1 billion
Ripple co-founder Chris Larsen stepped down from the position of CEO at the end of 2016, but he still serves as executive chairman. Like Armstrong, Larsen was way ahead of the crypto curve, launching Ripple with Jed McCaleb in 2012 to facilitate international blockchain payments.
It wasn't his first foray as a digital pioneer either. A generation earlier, he cofounded the home lender e-Loan.
Net worth:$3.2 billion
Former investment banker Barry Silbert founded Digital Currency Group and serves as its CEO. DCG is a conglomerate of five crypto-focused firms, including the massive Grayscale, which manages $28 billion worth of Ether and Bitcoin. DCG also operates a network of subsidiaries that have invested in more than 200 crypto-themed startups.
Net worth:$3.5 billion
Song Chi-hyung worked at a mobile payment company before he became the founder and chairman of the largest crypto exchange in his native South Korea. According to Forbes, he hit the big time in 2021 when his company, Dunamu, raised $85 million at a valuation of $8.7 billion.
Net worth:$5.9 billion
Gary Wang co-founded the cryptocurrency exchange FTX in 2019 with Sam Bankman-Fried, who you'll meet shortly. The MIT grad previously worked at Google aggregating airline prices for millions of flights. According to Forbes, Wang owns 16% of FTX and 18% of its U.S. operations, which are valued at $8 billion.
Net worth:$3.4 billion each
For the most important twins in tech history, it's only natural that even Cameron and Tyler Winklevoss's net worths would be identical. The famous Facebook brothers co-founded the crypto exchange Gemini in 2014, making them major players on the cutting edge of both the social media and blockchain revolutions -- and they leveraged the first to win the second.
According to Forbes, they used their $65 million legal settlement with Mark Zuckerberg to stockpile bitcoin.
Net worth:$17.4 billion
At the start of 2021, Changpeng Zhao was worth just $1.9 billion. At the start of 2022, his net worth had climbed to $65 billion.
Not a bad year.
The Chinese-Canadian coder founded Binance and serves as its CEO. According to Forbes, Binance facilitated trades worth more than $9.5 trillion in 2021, enough to make Zhao a very wealthy man. Even after the crypto winter erased nearly $48 billion of his wealth, Zhao is still the No. 19 richest person on Earth.
Net worth:$21.2 billion
After working for a fund that uses quantitative analysis to trade ETFs,Sam Bankman-Friedco-founded his crypto exchange FTX with Gary Wang in 2019. Today, he is the king of the crypto magnates.
Bankman-Fried, who studied physics at MIT, also launched the Alameda Research trading firm. According to Forbes, he became one of history's richest people under 30 when investors valued FTX at $40 billion in 2021.
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All net worth information from Forbes.
This article originally appeared onGOBankingRates.com:16 People Who Became Crypto Billionaires
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 19796.81, 20049.76, 20127.14, 19969.77, 19832.09, 19986.71, 19812.37, 18837.67, 19290.32, 19329.83
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-03-21]
BTC Price: 413.31, BTC RSI: 48.54
Gold Price: 1243.80, Gold RSI: 54.36
Oil Price: 39.91, Oil RSI: 64.82
[Random Sample of News (last 60 days)]
Bitcoin finds room in small funds; large institutions still on sidelines: By Gertrude Chavez-Dreyfuss
NEW YORK, March 18 (Reuters) - Digital currency bitcoin has found favor among smaller investors, thanks to the availability of funds designed to invest in it, but remains a niche among the larger investing community.
Investors at some family offices, smaller mutual funds, and traders at hedge funds say bitcoin has helped returns and demonstrated a low correlation with other asset classes.
Hopes that bitcoin would become a broadly used alternative to other currencies helped buoy its price to more than $1,000 in December 2013, when its market capitalization was $13 billion.
But the market cap has retreated since then, to about $6.4 billion as of Thursday.
Early enthusiasts for the crypto-currency were drawn to its revolutionary ideals of transparency and a lack of central or official control. The risks of dealing in bitcoin were laid bare in 2013 when Tokyo-based exchange Mt Gox collapsed after admitting it had lost the equivalent of hundreds of millions of dollars of investor funds.
The currency's earlier ties to gambling and criminal websites did not endear it to traditional investors.
Jeremy Millar, founder and managing partner at Ledger Partners in London, estimated that 50 to 90 percent of bitcoin's current $6.4 billion market cap is held by near-institutional money such as individuals at hedge funds and family offices. That has not changed over the last two years.
He does not have an estimate for institutional investment holdings of bitcoin. But he said they are likely to be insignificant, compared with the smaller investors who have fewer restrictions about fund allocation.
"What is clear though is that over the last two years, bitcoin has emerged from its 'hacktivist' origins to a more institutionalized ecosystem which includes the participation of hedge funds, traders, and professional investors," said Millar.
BITCOIN IN PORTFOLIOS
Funds dedicated to investing in bitcoin are relatively small. The largest is the Pantera Bitcoin Fund, a $160 million hedge fund founded by Dan Morehead, formerly of Tiger Management, available to institutions and individuals who invest $50,000 or more.
According to a Pantera Bitcoin Fund brochure, the fund was launched in July 2013, a period when bitcoin traded at around $65. On Thursday, it traded at $418.80, a gain of more than 500 percent from July 2013. The firm did not comment on fund performance or its investors.
The majority of the Pantera Fund's investors are family offices and high net worth individuals, said two people familiar with the fund.
The Grayscale Bitcoin Investment Trust, with assets of more than $60 million, is another vehicle for investors. GBTC is backed by bitcoin advocate Barry Silbert and his Digital Currency Group.
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) || 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 || Iceland's Genesis launches first bitcoin mining fund: NEW YORK (Reuters) - Genesis Mining, which provides computer equipment to create bitcoins in the cloud, on Thursday launched the world's first fund that invests in hardware used to create the digital currency. Bitcoins are created through a "mining" process involving computer algorithms on equipment owned or rented out by companies such as Iceland-based Genesis. Bitcoins, which are worth more than $400 each, can be purchased from trading exchanges such as BitStamp and Kraken. The Logos Fund was registered with the U.S. Securities and Exchange Commission last week, Genesis said in a statement. The fund will issue "pooled investment fund interests" to investors in an offering expected to last more than a year. Genesis will initially seed the fund with $1 million of its own capital, co-founder and Chief Executive Marco Streng said, adding that investors have expressed an interest in putting in $100 million. The mininum investment for the fund is $25,000. "The fund would be clearly focused on bitcoin mining, but we can also purchase bitcoins directly from the exchanges," said Streng said in an interview. Streng cited strong investor interest despite challenges facing the sector, whose profits have been pressured by growing competition. More than $1 billion has been invested in bitcoin-related startups since 2013. Bitcoin on Thursday traded at $416.01 on the BitStamp platform, down 1.8 percent. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Richard Chang) || Can you Pick the 2016 Election Winners Without TV Analysts? Here’s a Better Bet: Watch the video of ‘Can you Pick the 2016 Election Winners Without TV Analysts? Here’s a Better Bet’ on MoneyTalksNews.com.
If you want a quick glimpse at who’s likeliest to be our next president, don’t listen to pollsters and pundits. Follow the money.
We don’t mean the big bucks of super PACs or even the millions from small-money donors.
We’re talking about real money people who wager on election outcomes. It turns out that the collective wisdom of bettors has a better record of predicting winners than the talking heads.
One place that bettors congregate online is theIowa Electronic Markets, or the IEM, at the University of Iowa.
“If you look at polls run during the election, in about 75 percent of the cases, Iowa’s market prices predict the outcome of elections better than the polls,” says Joyce Berg, a University of Iowa accounting professor who oversees the IEM.
Frederick Boehmke, University of Iowa political science professor and faculty adviser to the Hawkeye Poll, recently explained why to theQuad City Times newspaper.
“A poll asks a person’s preference, what they want to happen,” Boehmke said. People investing in the IEM, however, “are trying to make money, so they pick the candidate or party they think will win. They typically set aside personal preferences to make money.”
Also, a poll is a snapshot at a moment in time, Boehmke said. The market “is about who will win in the end.”
The IEM and another exchange,PredictIt, which is set up in Washington, D.C., under the auspices of Victoria University of Wellington, New Zealand, say the predictions work because the “wisdom of crowds” aggregates the expectations of thousands of bettors who have skin in the game.
A now-defunct exchange calledIntradein 2012 “predicted” the electoral outcome in 49 of the 50 states.
People who put up real money are more likely to consider all the available information than people who just offer their opinions, says Money Talks News financial expert Stacy Johnson.
That information could include economic and business conditions, stock market performance, inflation and employment rates as well as other factors that could sway voters’ moods. Once invested in the outcome, bettors follow campaigns closely. As on a stock exchange and similar to fantasy sports leagues, bettors can make or lose money buying and selling their shares in the outcomes in which they invested.
You can get in on the action.
In exchanges, bettors actually are traders who buy and sell real-money contracts based on their beliefs about “yes or no” election outcomes. Unlike a casino sports book, the exchange does not set odds. The prices reflect the probabilities of various candidate winning a given political race.
PredictIt explains it this way:
You make predictions on future events by buying shares in an outcome, Yes or No. Each outcome has a probability between 1 and 99 percent, which is converted into U.S. cents.
“For example, Trader A thinks an event has at least a 60 percent chance of taking place so she offers 60 cents for a Yes share. PredictIt matches her offer with that of Trader B, who is willing to pay 40 cents for a No share. Each trader now owns a share in the market for this event on opposite sides. … If an event does take place, all Yes shares are redeemed at $1. Shares in No become worthless. If the event does not take place before the market closes, traders holding shares in No will be paid $1, while Yes shares will be worthless.
At the IEM, you can open an account for $5 to $200.
If you just want to look, check who’s leading the popular bets.
For the moment, according to the exchanges and other betting venues, the odds-on favorite is Hillary Clinton. That doesn’t mean bettors favor Hillary’s politics over those of Bernie Sanders, her rival for the Democratic nomination, or Republican front-runner Donald Trump. It just means they bet she wins. The likelihood of a Trump presidency, according to bettors, is less than 20 percent.
Both the IEM and PredictIt offer markets in who will be the GOP and Democratic presidential nominees. IEM has a market in which party will win the 2016 election as well as one in which you can bet on how the parties will share the popular vote. As of March 11, it was Democrats, about 55 percent, leading Republicans, 45 percent.
The IEM also has a market on who will control Congress (“Republican House, Democratic Senate” is leading).
PredictIt also has bets on upcoming party primaries, including Ohio (Kasich beating Trump, Clinton beating Sanders) and Illinois (Trump trouncing Cruz, Clinton trouncing Sanders) as well as topics such as whether the GOP will have a brokered convention (No is beating Yes) and will Marco Rubio drop out by March 18 (Yes is beating No).
• Election Betting Odds: Run byFox Business reporterJohn Stossel and his producer, Maxim Lott, Election Betting Odds features odds derived from an exchange,Betfair.com, which does not accept American traders due to regulations. It recently showed Clinton with a 64 percent probability of winning the White House and Trump with a 19 percent chance.
• FiveThirtyEight: This site is run by Nate Silver, known for calling the results in 49 out of 50 states in 2008 and all 50 states in 2012, FiveThirtyEight is predicting outcomes from primaries and caucuses based on data from polls and endorsements.
• PredictWise:Run by David Rothschild, an economist at Microsoft Research in New York City, PredictWise aggregates data on politics as well as sports, finance and entertainment. The site says it is does not favor gambling. It does indicate the Democratic nominee has a 69 percent chance of winning the White House compared with the Republican candidate’s 31 percent chance of winning. It also predicts Clinton will be the Democratic nominee by a better than 9-1 ratio over Sanders, and that Trump has a 76 percent probability of winning the GOP nomination.
• Pinnacle Sports: At the Curacao-licensed online betting site, Clinton has the best odds.
• Paddy Power: An online gambling site that mainly features sports, Paddy Power takes bets (not from the United States) onU.S. politics, too. It has Clinton as favored to win; Trump has the second-best odds.
• Predictious: Established after the demise of Intrade, Ireland-based Predictious exchange allows you to buy and sell contracts using Bitcoins, the virtual currency.
Despite all these predictions, they could be dead wrong, Johnson points out.
Ahead of the March 1 Super Tuesday elections,PredictItbettors andPredictWisesaid Trump would win 10 of 11 states and would lose only to Ted Cruz in Cruz’s home state, Texas. Cruz did win in Texas, but he also took Oklahoma and Alaska while Rubio won Minnesota; Trump won in seven states: Alabama, Arkansas, Georgia, Massachusetts, Tennessee, Vermont and Virginia.
So, while you might want to get a handle on the odds for your favorite candidate — and bettors can help — in the voting booth, you need to weigh that with your political convictions.
“You need to do your own research, pick your own candidate and then back that candidate with your vote, no matter what gamblers, polls or pundits say,” he said.
If you were betting on the election, where would you put your money? Does that pick line up with your politics? Share with us in comments below or on ourFacebook page.
This article was originally published onMoneyTalksNews.comas'Can you Pick the 2016 Election Winners Without TV Analysts? Here’s a Better Bet'.
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• Could These 12 Weird Tax Deductions Save You Money? || 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. Asked about the allegations, China's Foreign Ministry said on Tuesday that if they were made with a "serious attitude" and reliable proof, China would treat the matter seriously. But ministry spokesman Lu Kang said China did not have time to respond to what he called "rumours and speculation" about the country's online activities. The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions. Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement. Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware. It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell's cases, the means of access by the team spreading ransomware was established in 2013. The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments. Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities. PAYMENT IN BITCOIN Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats. In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks. Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay. Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams. The involvement of more sophisticated hackers also promises to intensify the threat. InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT. "The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab," Alderson said. (Reporting by Joseph Menn in San Francisco; Additional reporting by Megha Rajagopalan in BEIJING; Editing by Jonathan Weber and Clarence Fernandez) View comments || CoinDesk's 2016 Report Suggests Bitcoin Isn't Dead Yet: While much of the press about bitcoin has been relatively negative over the past year, CoinDesk 's "State of Bitcoin and Blockchain 2016" report shows that the cryptocurrency may not be as beaten down as many believed. The report, published on January 28, showed that despite a negative image in the media, bitcoin was gaining new users and the technology has a lot of potential in the coming year. New Users While the majority of the public remains cautious about using bitcoin, the cryptocurrency has seen a marked increase in users. The number of bitcoin wallets created over the past year has doubled, and daily bitcoin transactions have risen by 50 percent. The figures don't suggest that the cryptocurrency is going to reach widespread adoption imminently, but they are a promising sign that the currency is making slow and steady progress. Related Link: New Study Shows Bitcoin Has A Long Way To Go Mining Pools Consolidate CoinDesk's report also showed that bitcoin miners had begun to consolidate, leaving only a few pools to do the majority of the processing to uncover new bitcoins. This development has been troublesome to some bitcoin supporters who say that the cryptocurrency's decentralized nature is threatened by consolidation in the mining industry as it puts the power into large firms' hands. Blockchain Troubles Ahead As bitcoin is growing in popularity, there has been a debate among supporters as to how to move forward with the growing number of transactions. Blockchain can only process between three and seven transactions per second, something that will need to change if the currency is ever to reach widespread adoption. However, the bitcoin community has struggled with how to solve this problem with some calling for increased block sizes and others saying it would be better to optimize the coin itself. In any case, many expect 2016 to be a big year in which the two sides come to a final recommendation that the entire industry can abide by. Story continues Image Credit: Public Domain See more from Benzinga Will A More PC Barbie Revive The Brand? Traditional Retailers Set Their Sights On Amazon Will Facebook's Live-Streaming Efforts Trump Twitter's Periscope? © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Digatrade Executes Joint-Venture with BitCarats: Exclusive Digital Asset Development & Exchange Listing Agreement
VANCOUVER, BC / ACCESSWIRE / February 10, 2016 /BITX FINANCIAL CORP (BITXF) and its 100% owned and operated digital asset-currency exchange DIGATRADE(TM) (digatrade.com) today announced the execution of an exclusive asset-backed digital currency development and platform exchange listing agreement with BitCarats Capital Inc. Under terms of the agreement Digatrade, along with BitCarats Capital, will develop Caratscoin, the world's first diamond-backed digital-asset powered by blockchain.
“Caratscoin will be the first asset-backed digital currency listed on the trading platform, an innovation that will include additional asset-backed crypto-currencies in the future," stated Brad Moynes, CEO of Digatrade. In collaboration with BitCarats Capital and financial technology partners (ANX Technologies), Caratscoin will be powered by secure blockchain technology - the world's first paired with Bitcoin as well as direct purchase via Digatrade multi-fiat currency order-book including US dollars and Euros via Visa & MasterCard, along with eCheck and Interac within Canada.
A fully integrated, custom multi-signature Caratscoin digital wallet will be developed as a comprehensive solution, not only creating the Caratscoin, but adding value through features such as industry leading security architecture and encryption algorithms. Caratscoin owners issue the coin only if all authorized parties are present, the first to use this unique service which is unprecedented in the market. This system is most secure, as no one person has the only authority to issue the coin, considering the Caratscoin is designed to significantly increase in value in direct correlation to the appreciation in value of physical diamonds held in the company vault.
BitCarats Capital CEO & Founder Colin Ferguson stated, "Carats Diamond Investment, which will provide the distinctive collection of diamonds to back BitCarats, has more than 30 years' experience in the diamond business and is the nation's first direct distributor from the world famous Argyle Diamond Mine in Western Australia. We house the country's leading collection of Natural Fancy Coloured diamonds, featuring trending colours such as red, vivid blues and champagnes." Ferguson continued, "Caratscoin will not only provide a new virtual asset-class and store of value, but also offer our investors instant payment, prepaid debit cards and the ability to transfer an asset between end users instantly, at a low cost and on a decentralized network."Caratscoin will be backed by a pool of certified, Natural Fancy Coloured diamonds, primarily featuring red, vivid blue, and champagne colours. Each diamond is certified by the Geological Institute of America, the world's leading diamond educational resource, and home to the most advanced laboratories. The diamonds are insured by Lloyd's of London and stored at a private vault at The World Trade Center, 999 Canada Place, one of the most secure buildings in Vancouver, Canada. Founded and led by BitCarats CEO Colin Ferguson, Carats Diamond Investment (carats.com) is committed to exceptional diamond education, quality and customer service, and was recently recognized by the Better Business Bureau (BBB) when Carats was awarded with their highest rating of A+ since joining the BBB 16 years ago.
More information regarding this exciting new venture will be made available as it materializes.
ABOUT DIGATRADE:
DIGATRADE is a global digital asset-currency exchange located in Vancouver, British Columbia, Canada. The Company is owned and operated 100% by Bit-X Financial Corp which is publically listed on the OTC.QB under the trading symbol BITXF. BITXF is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC". Digatrade has now become a global platform offering its customers instant card-based transactions worldwide.
CORPORATE CONTACT INFORMATION:
Brad Moynes, CEOBit-X Financial CorpDigaTrade.com838 West Hastings Street, Suite 300Vancouver, BC V6C-0A6CanadaTel: +1(604) 200-0071Fax: +1(604) 200-0072www.digatrade.com
Media inquiries:[email protected]
Forward-Looking Information
This press release contains certain "forward-looking information". All statements, other than statements of historical fact, that address activities, events or development that the Company believes, expects or anticipates will or may occur in the future constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the company based on information currently available to the Company. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the possibility of unanticipated costs and expenses. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the company disclaims any intent or obligation to update any forward-looking information whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
SOURCE:Bit-X Financial Corp || Bitcoin finds room in small funds; large institutions still on sidelines: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Digital currency bitcoin has found favor among smaller investors, thanks to the availability of funds designed to invest in it, but remains a niche among the larger investing community. Investors at some family offices, smaller mutual funds, and traders at hedge funds say bitcoin has helped returns and demonstrated a low correlation with other asset classes. Hopes that bitcoin would become a broadly used alternative to other currencies helped buoy its price to more than $1,000 in December 2013, when its market capitalization was $13 billion. But the market cap has retreated since then, to about $6.4 billion as of Thursday. Early enthusiasts for the crypto-currency were drawn to its revolutionary ideals of transparency and a lack of central or official control. The risks of dealing in bitcoin were laid bare in 2013 when Tokyo-based exchange Mt Gox collapsed after admitting it had lost the equivalent of hundreds of millions of dollars of investor funds. The currency's earlier ties to gambling and criminal websites did not endear it to traditional investors. Jeremy Millar, founder and managing partner at Ledger Partners in London, estimated that 50 to 90 percent of bitcoin's current $6.4 billion market cap is held by near-institutional money such as individuals at hedge funds and family offices. That has not changed over the last two years. He does not have an estimate for institutional investment holdings of bitcoin. But he said they are likely to be insignificant, compared with the smaller investors who have fewer restrictions about fund allocation. "What is clear though is that over the last two years, bitcoin has emerged from its 'hacktivist' origins to a more institutionalized ecosystem which includes the participation of hedge funds, traders, and professional investors," said Millar. BITCOIN IN PORTFOLIOS Funds dedicated to investing in bitcoin are relatively small. The largest is the Pantera Bitcoin Fund, a $160 million hedge fund founded by Dan Morehead, formerly of Tiger Management, available to institutions and individuals who invest $50,000 or more. Story continues According to a Pantera Bitcoin Fund brochure, the fund was launched in July 2013, a period when bitcoin (BTC=BTSP) 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) || C&W Business Earns Fortinet Platinum Partner Recognition: MIAMI, FL--(Marketwired - Feb 22, 2016) -C&W Business, part of Cable & Wireless Communications, Plc (CWC), today announces it has been recognized as aFortinetPlatinum Partner. To receive Platinum status, C&W Business demonstrated that it had successfully achieved all Fortinet certification requirements and training programmes needed to deliver the highest levels of partnership, performance and commitment. As a certified Platinum partner, C&W Business are experts in delivering Fortinet's superior, next generation multi-threat security solutions to their customers across the Caribbean and Latin American region.
C&W Business has a proven track record of delivering managed security services over a vast range of advanced security technologies, such as Web Application Firewall, Email Security, DDOS protection, Advanced Persistent Threat protection, among others. C&W Business offers unparalleled skills in the region, with local resources across 26 countries and experts with the highest certification levels across the board. C&W Business has successfully deployed complex security solutions, using Fortinet's technology, in large and medium companies from a number of different sectors -- including Banking, Retail, Government and BPO.
"This recognition as a Platinum Partner highlights our dedication to be the most complete ICT Solutions provider in the Caribbean and Latin American region. Security is a topic that is high in CIO's minds and we take that very seriously," said Daniel Peiretti, SVP Product Development, C&W Business. "We have focused in hiring and certifying security experts and giving them the tools necessary to ensure our customers enjoy peace of mind with their network," added Peiretti.
Security threats are on the rise so corporations and government agencies alike must do everything to protect their networks and their data. C&W Business employs security experts in their Security Operation Centers (SOC) throughout the region to monitor their network 24X7X365.
"We are excited to recognize C&W Business as a Platinum Partner, based on their strong commitment to delivering innovative solutions that drive customer success," said Pedro Paixao, General Manager, Latin America, at Fortinet. "C&W Business plays an important role in transforming customers, across multiple industries, into more agile, connected and secure companies that can rest assured their most important assets and the assets of their end-users are protected."
About Cable & Wireless Communications PlcCable & 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.
About FortinetFortinet (NASDAQ:FTNT) helps protect networks, users and data from continually evolving threats. As a global leader in high-performance network security, we enable businesses and governments to consolidate and integrate stand-alone technologies without suffering performance penalties. Unlike costly, inflexible and low-performance alternatives, Fortinet solutions empower customers to embrace new technologies and business opportunities while protecting essential systems and content. Learn more atwww.fortinet.com, or follow Fortinet at theFortinet Blog,Google+,LinkedinorTwitter.
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=2967158 || Is Oil Driving The Stock Market? And Should Traders Care?: Recent headlines imply that the slump in the oil market caused the January drop in global stocks. They also point to oil rallies as the reason for stock rallies. But is the relationship causation or just correlation? Should we say one happened “and” or “because” the other one did? Early in the Wednesday US trading session, crude oil futures dropped by nearly a dollar a barrel and the S&P 500 quickly moved in lockstep, dropping over 40 points in the same hour. The larger downward trend of Monday and Tuesday in oil was also mirrored in the stock market. Crude oil’s drop was a full 11%, the largest percentage drop since March 2009. However, the drop in stocks over those two days was not nearly as dramatic. On Wednesday, the markets diverged in the morning. Crude had a brief selloff when the weekly EIA Petroleum Status Report came out, but then it bounced and an hour later WTI crude oil futures (Nadex: Crude Oil) had pushed above $31 a barrel and come within 20 cents of $32. Stocks only came along for half of that ride. The S&P 500 (Nadex: US500) dropped 40 points, but only regained half of that loss. While oil was rising to two-day highs, stocks hovered near Tuesday’s lows. Clearly the exuberance among crude oil traders had not inspired similar optimism among stock index futures traders or investors as a whole. Later in the day stocks did rally, but at the day’s close, crude oil was up over 8% and equity indexes were unchanged. Clearly stock traders were not taking their cues from the bullishness of oil traders. In fact, it’s hard to say what crude oil traders were using to guide their decisions on Wednesday. Why were oil traders so bullish following a fairly downbeat EIA report? You’d have to do some mental gymnastics to come up with a direct reason. The record supply glut set a new record, with global oil inventories rising to over half a billion barrels and driving up gasoline inventories as well. Foreign output remains high, with Iran now adding more of its stockpiles and production to the world market. And with large inventories and weak demand, refineries are cutting back production. Story continues The weak demand comes despite the low prices. Demand for gasoline is off 0.9% year on year, despite gas prices being down 25% from this time in 2015. Demand for heating oil and distillates is down a full 16%, thanks to a warm winter and weak industrial demand. That perception of industrial weakness got further proof with Monday’s weak ISM Manufacturing Index report, the fourth weak report in a row and the worst streak of manufacturing numbers since 2009. And despite that substantial negative report, the bulls had the day in crude oil. And even though stocks ended flat, some analysts will say that crude oil’s rally had a delayed effect on stocks and caused the afternoon rally. When crude oil’s price action doesn’t even seem to have a logical connection to the latest supply and demand report, is it reasonable to think that stock traders are tying their decisions to such an emotional and unpredictable market? Stock traders aren’t showing much consistency in their reactions to the news, themselves. The recent earnings reports were overall positive among S&P 500 companies, indicating that US businesses continue to be profitable. Yet some are pointing to earnings per share as a problem sign. A report from Goldman Sachs even said that profit margins are too high and if they don’t go down and revert to the mean, they believe it raises questions about “the efficacy of capitalism” itself. It is a time when short-term traders who simply watch price movement tend to have an advantage. On Nadex, binary option and spread traders can trade the ups and downs without speculating on the whys and wherefores. Sometimes that is best left to the analysts. For traders, explaining the move isn’t nearly as important as trading it. This information has been prepared by Nadex, a trading name of North American Derivatives Exchange, Inc., prepared by independent third parties contracted by Nadex or reproduced form third party news agencies. In addition to the disclaimer below, the material on this page does not contain an offer of, or solicitation for, a transaction in any financial instrument. Nadex accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. See more from Benzinga New Ways To Trade China, Crude Oil And The Fed Bitcoin Is Thriving As Stock Markets Dive The Simple Reason This Market Drop Makes Sense © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
Why Some Changes to Bitcoin Require Consensus: Bitcoin's 4 Layers - http://ift.tt/1R8U4fs || In the last hour, 4 people won 0.20 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC Jackpot || Liquid Bitcoin || Liquid Bitcoin || $383.44 #btce;
$375.71 #bitstamp;
$375.00 #coinbase;
$374.40 #bitfinex;
#bitcoin #btc || Liquid Bitcoin || $423.61 #bitfinex;
$422.00 #btce;
$421.95 #coinbase;
$420.70 #bitstamp;
#bitcoin #btc || Liquid Bitcoin || #Bitcoin Why Bitcoin Continues to become Increasingly Popular http://bit.ly/1QOeWyw || Liquid Bitcoin
|
Trend: no change || Prices: 418.09, 418.04, 416.39, 417.18, 417.95, 426.77, 424.23, 416.52, 414.82, 416.73
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2015-09-15]
BTC Price: 230.30, BTC RSI: 42.59
Gold Price: 1102.80, Gold RSI: 40.87
Oil Price: 44.59, Oil RSI: 49.00
[Random Sample of News (last 60 days)]
Global Equity International Inc. Signed a Revised Agreement With AuthentaTrade, a Global Digital Currency Exchange Seeking Regulation in Europe and Asia: DUBAI, UNITED ARAB EMIRATES--(Marketwired - Jul 30, 2015) -Global Equity International Inc.(OTCQB:GEQU) and its fully owned subsidiary,Global Equity Partners Plc(GEP), a business consulting services firm and M&A specialist to SMEs worldwide, today announced that it has signed a revised consultancy agreement withAuthentaTrade, an innovative FINTECH company firm based in Seychelles and Cyprus (Website:http://www.authenta.trade/).
Global Equity International Inc., through its fully owned subsidiary Global Equity Partners Plc., will assist AuthentaTrade with pre-IPO funding amounting to, but not limited to, US$32 million as well as a public listing of its shares on a recognized international stock exchange post pre-IPO funding. As part of the consultancy agreement, GEP will hold a meaningful equity position in AuthentaTrade (post IPO).
Peter Smith, CEO of Global Equity International Inc., said:"We are extremely excited about signing this revised agreement with AuthentaTrade as we believe that there is a lot of potential for the Company's proprietary solutions. We have met with the Authenta Team in Dubai on two occasions now and have already introduced them to various financial institutions in Dubai, some of which are interested in looking at the possibility of investing in the Company. This great addition to our portfolio of clients will undoubtedly bring good value to our Company in the long run."
Gwyn Jones, CEO of AuthentaTrade,stated:"We're working hard to fulfill the promise of Digital Currencies, especially Bitcoin, and believe there is a substantial opportunity to create 'banking-like' financial products, but with much lower transactional costs than in traditional banking. We look forward to working with GEP, and raising the funding we need to take AuthentaTrade, and our Bitcoin Exchange, to the next level."
About AuthentaTradeDevelopment began on the AuthentaTrade platform in early 2015. AuthentaTrade has assembled a team spearheaded by Gwyn Jones, a co-founder and former Vice President of Product Development, of "Vistaprint," a billion dollar ecommerce leader. AuthentaTrade's management is fascinated by Digital Currencies and their potential to bridge financial markets across the globe. There is a huge opportunity in Digital Currencies as a global transactional medium using a decentralized digital store of value.
AuthentaTrade will offer a suite of services for its clients including FOREX (both "Fiat" and "Digital" currencies) trading, banking and international payment solutions, along with proprietary regulated trading products designed by institutional traders that will help create an efficient market for participants.
AuthentaTrade has chosen to target European and Asian markets as management feels the clientele there will stand to gain the most from the regulated products soon to be introduced. The Asian market in particular has an appetite for speculative trading on volatility; their desire to transact plays into the new and explosive market of Digital Currencies such as Bitcoin.
About Global Equity International Inc.Global Equity International Inc., through its wholly-owned subsidiary Global Equity Partners Plc, advises worldwide business leaders with their most critical decisions and opportunities pertaining to growth, capital needs, structure and the development of a global presence. With offices in Dubai and London, Global Equity Partners has developed significant relationships in the US, UK, Central Europe, the Middle East and South-east Asia to assist clients in realizing their full value and potential by bringing them to external capital and resources that place an emphasis on collaborative thinking. Furthermore, because Global Equity Partners has offices in key financial centers of the world, they are able to introduce their clients to a unique opportunity of listing their shares on one of the many stock exchanges worldwide.
Safe Harbor StatementThis press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantee of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Suchstatements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company refers interested persons to its most recent Annual Report on Form 10-K and its other SEC filings for a description of additional uncertainties and factors, which may affect forward-looking statements. The company assumes no duty to update its forward-looking statements. || 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.
See more from Benzinga
• Despite Record Profits, Turbulence Ahead For The Airline Industry
• One Man's Journey Around The World Using Only Bitcoin
• What The Fed Minutes Could Say About A September Rate Hike
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Costas Inc. Announces New Agreement Regarding Platforms for Digital Currency Transactions: CYPRESS, TX--(Marketwired - Jul 30, 2015) - Costas Inc. (OTC PINK:CSSI) today announces the mutual termination and replacement of a previously announced Original Share Exchange Agreement with AuthentaTrade Inc., an Alberta, Canada corporation.
The initial agreement, in which Costas would acquire 48% of the shares AuthentaTrade in exchange for 250,000 shares of Costas, has not been completed and has been replaced by an agreement with AuthentaTrade Ltd. (a Republic of Seychelles corporation, "AuthentaTrade Seychelles"). AuthentaTrade Seychelles is currently in negotiations with an Asian based company that brings significant value to their business. Based on the value added in AuthentaTrade Seychelles, Costas has negotiated an increase in shares used as consideration in this new share swap agreement. Details on the letter of intent between AuthenaTrade Seychelles and the Asian based group will be released shortly.
Pursuant to the new agreement, Costas will own 48% of the AuthentaTrade Seychelles in exchange for 4,000,000 shares of Costas. The physical share exchange is expected to occur within the next 30 days. In addition, AuthentaTrade Seychelles shall remain liable to pay to Costas USD $200,000 as a debt owning.
AuthentaTrade Seychelles is in the business of developing a high security digital currency exchange. Costas believes that the management of digital currencies is a burgeoning market ripe with opportunity. To this accord, AuthentaTrade Seychelles is developing technology to simplify transactions in digital currencies, such as Bitcoin, while specifically addressing security concerns of the broader digital currency market.
AuthentaTrade Seychelles' operations in the Province of Alberta will cease, and will now be managed outside of Alberta. Costas advises that it is subject to a cease trade order issued by the Alberta Securities Commission for its jurisdiction of Alberta.
Safe Harbor Act Notice:
Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the company's ability to obtain additional financing and the demand for the company's products. Any investment in the company would be extremely speculative and involve a high degree of risk and should not be pursued unless the investor could afford to lose their entire investment. Before investing, please review this filing, all past public filings with the SEC, all current Pinksheets.com filings and consult a registered broker dealer or contact the financial industry regulatory authority ("FINRA") for more information regarding locating a qualified party to assist in making an investment decision. The company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the company's success are more fully disclosed in the company's most recent public filings with the U.S. Securities and Exchange Commission. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. || 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 overa long-running squabblebetween 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 ina 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?
Mike Hearn, one of the developers behind XT,wrote in a lengthy postexplaining 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 MoreThe 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 communitywrote in a Reddit postthat 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 MoreBitcoin 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 developedwithoutmuch 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." (Thetotal value of all existing Bitcoinswas 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.
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 MoreWhy 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 || MarilynJean Media Interactive (MJMI.QB) Announces Plans to Enter Multi-Billion Dollar Remittance Market Using Bitcoin to Effect Transfers: HENDERSON, NV / ACCESSWIRE / July 24, 2015 /MarilynJean Media Interactive (MJMI) announced today its plans to enter the multi-billion dollar remittance market using Bitcoin to effect transfers.
According to the World Bank, sending money internationally, or remittance transactions, were valued at over $580 Billion in 2014 and are expected to exceed $608 Billion in 2015. The World Bank estimates transaction fees to average 7.99% of money sent, making for a staggering $50 Billion in potential fees for participants in this year's remittance business.
Most remittance transfers are from developed countries to developing ones, sent primarily by migrant workers. Currently, most transactions are done through brick and mortar institutions like Western Union (NYSE:WU) and Moneygram (NASDAQ:MGI). These type of companies make money by charging an often invisible fee on the currency exchange portion of the transaction and high transfer fees to send and receive the money.
Within the existing financial system, Bitcoin's most disrupting feature is its decentralized architecture. A vaster international network of P2P computers provides multiple layers of verification for each transaction using cryptography. All transactions are registered in the publicly viewable blockchain so that users can’t transact with bitcoins they don’t own. This final level of security previously required a third party, typically a bank.
In a Bitcoin remittance transaction, a user would purchase Bitcoins via a Bitcoin exchange then send the Bitcoins to a Bitcoin remittance company who would then send the money to the receiver. Each step would be completed electronically within minutes.
The bitcoin network has the potential to effectively replace financial institutions and banks in the remittance market. Transfers are virtually in real time, often completing in less than 10 minutes, with ultra-low costs, typically limited to the fee for using a Bitcoin exchange, which averages 2%. In addition, Bitcoin remittance transactions can be easily completed using mobile devices which are now widely available in developing countries.
Challenges for Bitcoin and other crypto-currencies in the remittance market include the differing ways such currencies are regulated internationally and the costs associated with compliance in multiple jurisdictions. As a fully reporting, publicly traded company, management believes both regulators and users will be comparatively more confident with MJMI's participation in any regulated markets.
MJMI is currently exploring partnering with several existing Bitcoin 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 and potentially capture a share of this lucrative market just as it is poised to undergo a massive shift into the digital realm.
Peter Janosi, MJMI's president said: "With legacy remittance companies and traditional banks continuing to charge high fees while hiding other fees via poor exchange rates, it's hard to see a future where they will continue to be relevant."
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 focussed on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB.
Website:www.marilynjeancom
Press Contact:[email protected]
SOURCE: MarilynJean Media Interactive || The Isle Of Man Could Become Most Bitcoin-Friendly Place On Earth: Bitcoin has struggled to make its way into mainstream use for years as merchants, government officials and consumers all worry about security and longevity when it comes to cryptocurrencies.
One way the bitcoin community has been working to make the currency more approachable has been through regulation, though many claim that strict laws governing bitcoin use could take away from the decentralized nature of digital currencies. However, some governments are embracing bitcoin as a revolutionary new technology and working together with the industry to create laws that will promote usage while still allowing the currency to expand. This is especially true in the Isle of Man, which could soon become the most bitcoin-friendly place on earth.
Related Link:Did Barclays Start The Bitcoin Bull Run?
Working Together
The Manx government has beenworking to supportthe bitcoin industry for years. Recently, government officials agreed to amend the island's laws to include bitcoin businesses. By creating transparent laws that cryptocurrency startups must adhere to, the government is hoping that more people will become comfortable using digital currencies.
The straightforward laws protect against money laundering and criminal activity, and give new businesses a blueprint to follow in order to adhere to the region's regulations. Regulators, cryptocurrency industry leaders and government officials have promised to keep an open dialogue regarding the laws in order to ensure that they keep pace with the fast changing fintech landscape.
Blockchain Registry
Perhaps the most surprising step toward bitcoin acceptance on the Isle of Man was the Manx government's decision tocreate a registryfor cryptocurrency businesses using blockchain itself. Together with blockchain startup Pythia, Manx government officials plan to create a database powered by blockchain in which all of the island's cryptocurrency firms will be registered. The decision will make the Isle of Man the first country to use blockchain in order to maintain official data.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || MarilynJean Media Interactive (MJMI.QB) Announces Plans to Enter Multi-Billion Dollar Remittance Market Using Bitcoin to Effect Transfers: HENDERSON, NV / ACCESSWIRE / July 24, 2015 / MarilynJean Media Interactive ( MJMI ) announced today its plans to enter the multi-billion dollar remittance market using Bitcoin to effect transfers. According to the World Bank, sending money internationally, or remittance transactions, were valued at over $580 Billion in 2014 and are expected to exceed $608 Billion in 2015. The World Bank estimates transaction fees to average 7.99% of money sent, making for a staggering $50 Billion in potential fees for participants in this year's remittance business. Most remittance transfers are from developed countries to developing ones, sent primarily by migrant workers. Currently, most transactions are done through brick and mortar institutions like Western Union (NYSE:WU) and Moneygram (NASDAQ:MGI). These type of companies make money by charging an often invisible fee on the currency exchange portion of the transaction and high transfer fees to send and receive the money. Within the existing financial system, Bitcoin's most disrupting feature is its decentralized architecture. A vaster international network of P2P computers provides multiple layers of verification for each transaction using cryptography. All transactions are registered in the publicly viewable blockchain so that users can’t transact with bitcoins they don’t own. This final level of security previously required a third party, typically a bank. In a Bitcoin remittance transaction, a user would purchase Bitcoins via a Bitcoin exchange then send the Bitcoins to a Bitcoin remittance company who would then send the money to the receiver. Each step would be completed electronically within minutes. The bitcoin network has the potential to effectively replace financial institutions and banks in the remittance market. Transfers are virtually in real time, often completing in less than 10 minutes, with ultra-low costs, typically limited to the fee for using a Bitcoin exchange, which averages 2%. In addition, Bitcoin remittance transactions can be easily completed using mobile devices which are now widely available in developing countries. Story continues Challenges for Bitcoin and other crypto-currencies in the remittance market include the differing ways such currencies are regulated internationally and the costs associated with compliance in multiple jurisdictions. As a fully reporting, publicly traded company, management believes both regulators and users will be comparatively more confident with MJMI's participation in any regulated markets. MJMI is currently exploring partnering with several existing Bitcoin 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 and potentially capture a share of this lucrative market just as it is poised to undergo a massive shift into the digital realm. Peter Janosi, MJMI's president said: "With legacy remittance companies and traditional banks continuing to charge high fees while hiding other fees via poor exchange rates, it's hard to see a future where they will continue to be relevant." 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 focussed on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB. Website: www.marilynjeancom Press Contact: [email protected] SOURCE : MarilynJean Media Interactive || Winklevoss twins file paperwork to operate Gemini bitcoin exchange: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Investors Tyler and Cameron Winklevoss earlier this week filed paperwork to operate a bitcoin exchange called Gemini for both individual and institutional investors in New York state, a spokeswoman said on Friday. The twins, best known for accusing Facebook Inc founder Mark Zuckerberg of stealing their idea, want to make the digital currency mainstream in the United States. Unlike conventional money, bitcoin is bought and sold on a peer-to-peer network independent of central control. Bitcoin is not backed by a government or central bank and its value fluctuates according to demand by users. The Winklevoss brothers filed an application on July 21 with the New York State Department of Financial Services to operate as a trust company. ItBit also filed a trust application in New York in February. In May, it became the first virtual currency company to receive a charter in the state. A trust company is a type of financial institution technically different from a bank, according to a blog by Houman Shadab, an expert on bitcoin regulations and a professor at the New York Law School. Under New York state's banking law, a trust company has all the powers of a bank to take deposits and make loans, alongside certain fiduciary powers such as acting as an agent for governmental bodies, he wrote. Examples of trust companies in New York include securities custodian the Depository Trust Company, the wealth and asset manager Northern Trust, and the Bank of New York Mellon. Last year Mt. Gox, a Tokyo-based bitcoin exchange, was forced to file for bankruptcy after hackers stole an estimated $650 million worth of customer bitcoins. Bitcoin's value has been highly volatile, having peaked at over $1,200 in late 2013 before crashing after the Mt. Gox attack. One bitcoin is currently worth around $289 on the BitStamp platform. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Lisa Shumaker) || U.K. Cops Arrest 6 Teens Linked to Sony, Microsoft Cyber-Attacks: British law-enforcement officials have arrested six male teenagers suspected of being members of the Lizard Squad hacking crew that disabled Sony s PlayStation Network and Microsoft s Xbox Live last year. The U.K.s National Crime Agency, the equivalent to the U.S.s Federal Bureau of Investigation, said the suspects used a tool to launch distributed denial of service (DDoS) attacks to cripple online servers of gaming companies as well as e-retailers, a national British newspaper and a school. The NCA did not identify the targeted companies but reports said the arrests are related to several attacks on the PlayStation and Xbox networks last year . Amazon also was among the sites attacked by the group, Bloomberg reported . The NCAs Operation Vivarium tracked down individuals who bought Lizard Stresser, software for launching DDoS attacks that flood servers with bogus data, using payment services such as Bitcoin to remain anonymous. The suspects detained for questioning this week are all between the ages of 15 and 18. This multiagency operation illustrates the commitment of the NCA and its partners to pursuing people who think they can criminally disrupt important public services or legitimate businesses, Tony Adams, head of investigations for the NCAs National Cyber Crime Unit, said in announcing the arrests Friday. Adams added, One of our key priorities is to engage with those on the fringes of cyber criminality, to help them understand the consequences of cyber crime and how they can channel their abilities into productive and lucrative legitimate careers. Earlier this year, the NCA arrested two other British teens suspected of using Lizard Stresser. In addition, the agency said, officials are investigating approximately 50 addresses linked to individuals registered on the Lizard Stresser website but who are currently not believed to have carried out any attacks. The NCAs arrests this week are unrelated to the devastating hack on Sony Pictures systems last November , which resulted in a massive breach of internal studio documents and leaks of several films to piracy networks . U.S. officials have accused the North Korean regime of facilitating that attack. Story continues Related stories Amazon to Launch Prime Instant Video in Japan, Taking on Netflix Maria Bello to Co-Star Opposite Billy Bob Thornton in Amazon's Legal Drama 'Trial' TV Review: 'Hand of God' Get more from Variety and Variety411 : Follow us on Twitter , Facebook , Newsletter || 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 the ARK 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 statement issued 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, including Amazon.com, Inc. (NASDAQ: AMZN ), Netflix, Inc. (NASDAQ: NFLX ), Facebook Inc (NASDAQ: FB ) and Apple Inc. (NASDAQ: AAPL ), according to issuer 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 burst onto the scene in 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. Story continues 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. See more from Benzinga Preferred Stock ETFs Provide Potential Fed Clues Going Small With A Technology ETF Tech ETFs Depend Heavily On Apple Earnings © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[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
10:00:02 || 1 #BTC = 1064.00 PLN / 288.00 USD at http://bitbay.net #bitcoin || USD $:
BTC_e:6.80
Hitbtc:255.49
Kraken:242.56
ANX:243.11
Bitcoin_de:220.00
ItBit:243.26
Local:297.27
TheRock:242.77 || Cotización del #bitcoin a las 00:00hs
Venta: 3599 ARS
Compra: 3536 ARS || 1 #BTC (#Bitcoin) quotes:
$277.85/$278.20 #Bitstamp
$273.00/$273.50 #BTCe
⇢$-5.20/$-4.35
$278.47/$278.52 #Coinbase
⇢$0.27/$0.67 || buysellbitco.in #bitcoin price in INR, Buy : 18751.00 INR Sell : 18170.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || bitcoin rate-2015-07-24 PDT start_rate:$272.00 current_rate:$274.50(0.92%) #btc_e @MoneysEdge http://www.moneysedge.com/bitcoin || Bitcoin Price Weekly Analysis – 270.00 as Support http://financialbtc.com/index.php/2015/08/09/bitcoin-price-weekly-analysis-270-00-as-support/ …pic.twitter.com/cmwjXkgMbY || Bitcoin Price Weekly Analysis – 270.00 as Support http://a.givemeasay.com/Nta #btc #bitcoin || Current price: 233.75$ $BTCUSD $btc #bitcoin 2015-08-22 00:40:04 EDT
|
Trend: up || Prices: 229.09, 229.81, 232.98, 231.49, 231.21, 227.09, 230.62, 230.28, 234.53, 235.14
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on 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)]
YELLEN: Bitcoin is a highly speculative asset: It happened — Federal Reserve Chair Janet Yellen talked about bitcoin (BTC-USD).
During a press conference following the Fed’s latest monetary policy decision, Yellen was asked about recent gains in the stock market and bitcoin and whether the central bank has factored in these rises in its assessment of the economy.
“I would simply say that bitcoin at this time plays a very small role in the payments system,” Yellen said. “[Bitcoin] is not a stable store of value, it doesn’t constitute legal tender, and it is a highly speculative asset.”
Yellen added in response to a later question that she sees the risks to financial stability from a change in the price of bitcoin as “limited.”
In terms of the Fed’s role in regulating the use of bitcoin, Yellen said only that the Fed expects the banks itdoessupervise would comply with any anti-money laundering rules that any digital currency transactions could touch.
On the stock market, Yellen said that Fed has noted that valuations in the stock market, compared to historical levels, are elevated but that, “economists aren’t great at knowing what appropriate [stock market] valuations are, and the fact that valuations are high doesn’t mean they are necessarily overvalued.”
Yellen added that a downturn in the stock market likely wouldn’t lead to significant changes in financial conditions, and that among other measures of financial stability “there’s nothing flashing red, or even orange.”
On Wednesday,the Fed raised interest rates by 0.25%to a range of 1.25%-1.5%. This is the third rate hike this year and the fifth during Yellen’s tenure. Yellen will be replaced by current Fed governor Jerome Powell in February 2018.
Following this announcement, stocks in the U.S. were higher with the Dow up triple-digits, where it was before the announcement, while bond yields were lower, gold was higher, and the dollar was sliding.
Bitcoin was trading near $16,400; at Yellen’s last press conference in September, bitcoin was trading near $3,700.
—
Myles Udland is a writer at Yahoo Finance. Follow him on Twitter@MylesUdland
Read more from Myles here:
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• Walmart’s strong quarter shows why Amazon had to buy Whole Foods
• Foreign investors might be the key to forecasting a U.S. recession
• It’s been 17 years since U.S. consumers felt this good about the economy
• TOM LEE: Bitcoin is an important asset for investors to own || Will 2018 Be SSR Mining Inc.'s Best Year Yet?: There wasn't a whole lot cooking for SSR Mining (NASDAQ: SSRM) stock in 2017, which is on track to end the year at nearly the same price it began with. That's not to say it was an uneventful year, however, as shareholders can attest. The stock saw its fair share of sudden pops and drops, although the latter more accurately describes affairs since the announcement of third-quarter 2017 earnings in mid-October. Investors sold the news of quickly falling silver and gold production. That said, the company expects to meet its full-year 2017 guidance for production volumes and cash costs. And even though the closing of a major silver mine will continue to impact year-over-year comparisons for overall production levels, a new mine in Argentina is expected to begin producing in 2018. Does that have the potential to make 2018 SSR Mining's best year yet? Chunks of gold. Image source: Getty Images. The road ahead SSR Mining has three producing mines, two in development, and five being explored for their potential. It ended mining operations at its San Miguel silver mine not long ago, which is having the effect of lowering 2017 production volumes and altering product mix (now heavily slanted to gold ) compared to 2016. That's just life in the mining industry. The three remaining active mines are performing as expected for the most part. However, the flagship Marigold mine, which is expected to account for up to 205,000 gold equivalent ounces in 2017, has encountered two notable setbacks. First, SSR Mining began excavating a different part of the mine that has lower grade ore, which means more material has to be moved to produce the same amount of gold. Second, the clay concentration in this part of the mine is higher than expected, which has forced the company to slow certain aspects of the process. That unpleasant surprise forced management to lower Marigold's full-year 2017 production guidance to a range of 195,000 ounces to 205,000 ounces, down from the previous range of 205,000 ounce to 215,000 ounces. Nonetheless, the company is on track to turn in a pretty solid 2017 campaign. Project or Category Production Guidance, 2017 Cash Cost Guidance, 2017 Marigold mine (gold) 195,000 oz. to 205,000 oz. $640 per oz. to $670 per oz. Seabee Operation (gold) 75,000 oz. to 85,000 oz. $575 per oz. to $625 per oz. Puna Operations (silver) 5 million oz. to 6 million oz. $12.50 per oz. to $14 per oz. Company total (gold equivalent) 350,000 oz. to 380,000 oz. $680 per oz. to $725 per oz. Data source: SSR Mining investor presentation. Story continues Management told investors in December that it expects to hit at least 350,000 gold equivalent ounces and cash costs of $705 per ounce, which would allow it to meet or exceed guidance for the sixth straight year. What's ahead for the company in 2018? Well, production from Marigold is likely to continue falling in the year ahead . It reported a 30% drop in gold produced during the third quarter of 2017 compared to the year-ago period as a result of lower-grade ore. Seabee production should remain consistent, and perhaps even rise slightly considering forest fires disrupted operations in 2017. The most important catalyst for the company resides in the operations at Puna. The total output of the project, which is 75% owned by SSR Mining and 25% owned by Golden Arrow Resources, is expected to be 5.5 million silver equivalent ounces in 2017 (at the midpoint of guidance). That will climb higher in the years ahead. A giant earth mover truck leaving a mine. Image source: Getty Images. In the final days of December, the companies received regulatory approval to proceed with the Chinchillas Project, which is expected to have an eight-year life and boost Puna's total annual output to 6.9 million silver equivalent ounces through at least 2021. There's just one problem: Chinchillas isn't expected to begin producing ore until the second half of 2018. That means management doesn't expect operations at Puna to begin churning out 6.9 million silver equivalent ounces of ore until 2019. That means SSR Mining isn't likely to have its best year yet in 2018 on production updates alone. In fact, its shaping up to be a relatively uneventful year for the company on that front. Then again, with over $500 million in cash and cash equivalents at the end of September 2017 and a management team that isn't shy regarding mergers and acquisitions, there's no telling what surprises could come into the mix. Given the company's $1 billion market cap, it's also possible Wall Street will begin to reassess the stock's value heading into 2019. Long story short, while I'm not a fan of gold and silver stocks, SSR Mining presents an interesting level of potential thanks to a strong balance sheet and several opportunities for growth. It's worth a closer look for investors snooping around gold and silver stocks. 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 . View comments || 2 Overlooked Dividend Stocks to Buy for 2018: "A stock dividend is something tangible -- it's not an earnings projection; it's something solid, in hand. A stock dividend is a true return on the investment. Everything else is hope and speculation." – Richard Russell.
Many investors love owning dividend stocks as they pay shareholders real money at consistent intervals. These companies are often very stable cash-printing machines that offer investors some sense of safety. But without eye-popping dividend yields, some great companies are overlooked, includingThe Hershey Co.(NYSE: HSY)andPfizer Inc.(NYSE: PFE), which fall short of the requirements for many dividend watchlists.
On Monday, Pfizer made a move its investors are sure to enjoy as it announced a 6% increase to its dividend payment to $0.34 per share. That's a very solid 3.6% dividend yield, even if not an eye-popping 4% to 6% yield that many income investors hunt for. Minus a cut during the past recession, Pfizer's dividend track record is impressive: The first-quarter 2018 dividend will be the 317th consecutive quarterly dividend paid out. But wait, there's more. In addition to the 6% increase to the dividend, Pfizer also announced that the board of directors authorized a new $10 billion share repurchase programin additionto the $6.4 billion remaining under the current authorization.
Image source: Getty Images.
Pfizer's increasing dividend and massive share repurchase program emphasize its commitment to returning value to shareholders, but the company also offers investors a strong business with upside. Pfizer's scale alone offers competitive advantages for developing its pipeline of new drugs, and it has historically generatedtons of cash flowfrom a diverse range of drugs. That pipeline should only get more lucrative for investors as its Xeljanz gains traction in immunology and Ibrance develops into a winner for breast cancer.
While 2017 was a solid year for Pfizer, some investorsexpected more of a splashin the form of acquisitions that never materialized. Despite no major acquisitions, Pfizer is a cash-printing machine that dishes a lot of value back to investors through dividends and share buybacks, and if 2018 contains a splash acquisition, it could help drive the stock price higher.
Everyone loves a good snack, and over its 85-year history, Hershey has dominated much of the U.S. chocolate market with brands that include Reese's and Kit Kat, in addition to its namesake Hershey's brand and many others. But consumers in general, especially millennials, are looking for healthier snacks, and as we approach 2018, it's clear that Hershey is trying to capitalize on that opportunity to expand its brand portfolio.
The "better-for-you" snack opportunity is why Hershey announced it would be acquiringAmplify Snack Brands(NYSE: BETR), a snack-food company focused on developing healthier snacks such as its well-known Skinny Pop brand that will become Hershey's sixth largest brand. The deal is valued at $1.6 billion, or roughly 15 times Amplify's full-year adjusted EBITDA.
It's a move that can move the needle in the near term as management expects the acquisition to be accretive to adjusted earnings in the first year post closing, and for annual run-rate synergies to check in at $20 million over the next two years alone. The move helps Hershey expand its reach into the snack aisle and gives it an opportunity to reignite growth by helping Amplify improve its scale, distribution, and brand management.
Graphic source: Hershey's March 1, 2017 Investor Update Presentation.
While investors wait for Hershey to continue gobbling up opportunities in the healthier snack market, rest assured that management will continue to return value through dividends and buybacks, as you see in the graph above. Hershey is committed to a dividend payout ratio of at least 50%, and it has dished out roughly $5 billion in dividends and repurchases over the past decade. At a current dividend yield of 2.3%, and as management expands through acquisitions, Hershey is a sweet dividend stock many investors overlook.
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Daniel Millerhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Bitcoin $20,000 Before Zero: Welcome back to Mind Over Money. I'm Kevin Cook, your field guide and story teller for the fascinating arena of behavioral economics.
Last week we dove into the brave new world of blockchain and cryptocurrencies. I read some good passages from a prescient 2014 essay by venture capitalist Marc Andreessen who explained and validated many of the amazing accomplishments we've come to see from "fintech" and Bitcoin, nearly four years later.
In this episode of the podcast, I read a few more important ideas that Andreessen shared back then, including his explanation of Bitcoin as "a classic network effect, a positive feedback loop" of at least four constituencies: consumers, merchants, miners, and developers.
Andreessen believed that all four players were important but that developers played a special role. Here's what he said...
All over Silicon Valley and around the world, many thousands of programmers are using Bitcoin as a building block for a kaleidoscope of new product and service ideas that were not possible before. And at our venture capital firm, Andreessen Horowitz, we are seeing a rapidly increasing number of outstanding entrepreneurs – not a few with highly respected track records in the financial industry – building companies on top of Bitcoin.
For this reason alone, new challengers to Bitcoin face a hard uphill battle. If something is to displace Bitcoin now, it will have to have sizable improvements and it will have to happen quickly. Otherwise, this network effect will carry Bitcoin to dominance.
What Andreessen got right was the success of Bitcoin. What he may not have seen is that other platforms could evolve with new features.
As we discussed last week, while Jamie Dimon of JPMorgan calls Bitcoin "a fraud," he built a new blockchain banking technology called Quorum on the Ethereum cryptocurrency protocol.
"Bitcoin Surges Back Above $7200 As Square Tests Crypto Payments"
That was the headline this morning from ZeroHedge. Recall in last week's podcast Blockchain 101: If Bitcoin's a Fraud, How is Ethereum Different? we talked about Bitcoin surging to new highs above $7,000 afterCME Group(CME) announced they would be launching a futures contract on Bitcoin.
That further validated Bitcoin as a legitimate member of an asset class -- or, more likely,a new asset class of its ownas Marc Andreessen would probably suggest.
But the day after my podcast, a big decision event for Bitcoin miners and developers transpired, sending share flying first higher, then over $1,500 lower. That potential event, known as a "hard fork," is a radical change to the protocol that makes previously invalid blocks and transactions valid, and as such requires all nodes to upgrade to the latest version of the protocol.
This is why I asked my colleague and Bitcoin fanatic Dave Bartosiak to be a guest on my podcast and help me break it all down. He explains the "hard fork" and why it didn't happen. He also explains how to avoid losing your hard-earned cryptocurrency with the right kind of crypto "wallet."
One thing Dave explained is that Bitcoin started surging on Monday from below $6,000 up over $6,500 as word got out that a hedge fund master named Novogratz bought between $15 and $20 million worth over the weekend. More on him coming up.
Back to Square
The ZeroHedge story was actually broke by Forbes on Tuesday night as Laura Shin reported “Some customers of Square's Cash app have gotten a surprise in the past week. The app, which is used for payments between friends and is a competitor to Venmo, has also given them the option to buy or sell Bitcoin.”
Not-so-ironically, word started spreading on Twitter, as Jack Dorsey was a founder of both companies. Early Wednesday morning, Bitcoin was in surge mode, up over $700 to $7,300 because the Square experiment added further validity from a leader in "liberated" payments processing.
Square(SQ), the peer-to-peer payments provider which just hit a $15 billion market capitalization today above $40 per share, is apparently testing integration of cryptocurrency payments in its cash app.
According to CoinTelegraph, Square has issued a rollout to a limited number of customers, using pooled wallets to allow Bitcoin payments without the current high fees.
"We’ve found that customers are interested in using the Cash App to buy Bitcoin,” the company said in a statement.
“We're exploring how Square can make this experience faster and easier, and have rolled out this feature to a small number of Cash App customers. We believe cryptocurrency can greatly impact the ability of individuals to participate in the global financial system and we're excited to learn more here.”
Banks and Hedge Funds Are Getting Ready for Bitcoin Adventures
In addition to JPMorgan's entrance in October into the Blockchain realm with Quorum, in September there was chatter about Goldman Sachs launching a trading desk to facilitate liquidity and hedging for their institutional clients. They probably knew that CME was researching a Bitcoin futures contract.
Well on Monday, Reuters talked to Mike Novogratz, the former macro hedge fund manager at Fortress Investment Group who now runs Galaxy Investment Partners, a firm that bets on cryptocurrencies and related businesses. He believes that mainstream institutional investors are about six to eight months from adopting bitcoin.
In the article Big money is coming to bitcoin, Novogratz is quoted talking about a "turning-point product" from a big financial firm that could make buying Bitcoin as easy as picking up the phone. There is also a video interview in that link.
“When it’s that easy, the price of bitcoin or ethereum is going to go much higher. And that is a lot closer than people think,” said Novogratz, who spoke at the Reuters Global 2018 Investment Outlook Summit in New York.
Novogratz also told Reuters that he bought $15 to $20 million worth of Bitcoin over the weekend in that recent pullback.
And on Tuesday, Reuters spoke with Luke Ellis, CEO of hedge fund firm Man Group, with $100 billion AUM. Ellis said the firm will add Bitcoin to its 'investment universe' if CME launches a futures contract as planned. So there is a case of an established trading institution like CME attracting other entrants.
But maybe the Square news is what Novogratz was talking about. He did tweet this on Wednesday: "Big news -- looks like Square is adding a function to buy and sell BTC... the herd is coming #bitcoin."
Note: in the podcast, I mistakenly referred to Novogratz as the CEO of Man Group.
CME Group to Provide Regulated Price Discovery… and Arbitrage
While there has been concern about CME entering the Bitcoin market, I am a firm believer that it's a fantastic move for all participants. I used to work for the exchange and came to understand its economic functions of risk transfer and price discovery quite well across all asset classes.
The CME Bitcoin futures will bring a new level of transparency and access to big institutions, small hedgers, and private speculators. And obviously, a new ability to "go short" Bitcoin will provide its own brand of fun to those who believe that the cryptocurrency is a bubble waiting to burst.
In the podcast, Dave said he's getting the popcorn ready for mid-December when the contract launches. We also discuss the pros and cons of the newest CME initiative. You can learn more about the CME contract here.
On the pro side, I really like the fact that exchange officials and quants did their homework for the past year to track and create reliable Bitcoin cash market price information. This is extremely important since the futures contract will be cash-settled in some rule-based relationship to these prices.
This brings in a vital market function that links various related cash markets and their derivatives: arbitrage. In short, if a price isn’t “fair” in one location, a bank or large trading institution should be able to buy the cheaper version and sell the pricier one.
According to the CME website, "CME CF Bitcoin Reference Rate (BRR) and CME CF Bitcoin Real Time Index (BRTI), a standardized reference rate and spot price index with independent oversight are accelerating the professionalization of bitcoin trading and further establishing digital assets as a new asset class."
The BRR and BRTI launched November 14, 2016 and CME notes that "Several bitcoin exchanges and trading platforms will provide pricing data, including Bitstamp, GDAX, itBit and Kraken.
I'm really looking forward to the launch of this futures contract and all the other financial, trading, and payment institutions that will step out before year's end with their own Bitcoin initiatives.
This week's past news and research has really opened my eyes and I now have a "sure thing" prediction of my own: Bitcoin will reach $20,000 sometime in the next year, well before it ever fails and collapses to zero as the naysayers believe.
What's a Teraflop and Why Does the New Xbox Have 6?
Dave is also a "gamer" and so while I had him on the show, I had to ask about the exciting new launch of the Xbox OneX. I heard that sales in the UK were trouncing the new PS4 Pro and that it is now the fastest console on the planet with 6 teraflops of processing power.
A teraflop is the capability to handle one trillion "floating point operations per second" (FLOP).
Dave explained that the One X also has the capability to be upgraded, thus eliminating hesitation and preventing buyer's remorse over obsolescent consoles.
Check out the full podcast for his views on the console wars between Sony andMicrosoft(MSFT) and the GPU chip wars betweenAdvanced Micro Devices(AMD) andNVIDIA(NVDA) -- both of who also make the chips that power cryptocurrency mining.
Finally, I asked Dave -- a car fanatic like none I've ever met -- what we should expect from Tesla's big announcement Thursday about their new electric truck. While we can be pretty sure one reveal will be that the truck is autonomous too, Musk usually has more surprises too.
And a tweet on Sunday was already prepping the hype...
“Tesla Semi Truck unveil to be webcast live on Thursday at 8pm! This will blow your mind clear out of your skull and into an alternate dimension. Just need to find my portal gun.”
Be sure to tune into the Mind Over Money podcast to hear my favorite car expert's wild prediction about what Elon could have in store for us.
The one burning question I forgot to ask Dave was this: "Why didn't you tell me to buy Ethereum at $10 earlier this year?"
Disclosure:I own shares of NVDA and AMD for the Zacks TAZR Trader portfolio.
Kevin Cook is a Senior Stock Strategist for Zacks Investment Research where he runs the TAZR Trader service.
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 reportSquare, Inc. (SQ) : Free Stock Analysis ReportMicrosoft Corporation (MSFT) : Free Stock Analysis ReportAdvanced Micro Devices, Inc. (AMD) : Free Stock Analysis ReportNVIDIA Corporation (NVDA) : Free Stock Analysis ReportCME Group Inc. (CME) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || One stock analyst's $10 trillion bull case for cryptocurrencies: Cryptocurrencies and the blockchain technology underlying them could become a $10 trillion market in 15 years, RBC Capital Markets analyst Mitch Steves says. That's more than 13 times larger than the roughly $730 billion value of cryptocurrencies today, according to CoinMarketCap. "By utilizing decentralized computing and opensource software, we see a multi-trillion dollar market emerging," Steves, who also covers semiconductor stocks for RBC, said in a Wednesday report. He told CNBC in a phone interview that his $10 trillion estimate comes from taking one-third of the roughly $30 trillion in assets held in offshore funds and gold, as investors embrace digital currencies as a new store of value. Market capitalization of all cryptocurrencies (2013 -2018) Source: CoinMarketCap The most well-known digital currency today is bitcoin (Exchange: BTC.CB=), which has grown rapidly over the last several months into a cryptocurrency with a market cap of more than $250 billion. Digital currency proponents say the greater potential lies in the blockchain technology behind bitcoin. Blockchain creates a rapid, permanent and open record of transactions between two parties, thereby eliminating the need for a central party, such as a bank. Bitcoin became the first application of blockchain technology nearly a decade ago, and in the last several years developers have used the technology to create other digital coin systems. Some, like ethereum, allow other developers to easily create applications on the network. Other applications of blockchain technology create tokens that can be used to access the network's services, such as cloud storage or trading. All these applications can create the next generation of the internet, or a "world computer," the value of which could rise into the trillions of dollars, Steves said in the report. However, the growth of cryptocurrencies comes with very high risks. Steves pointed out in his report that many storage systems for bitcoin are hackable, and governments have no incentive to catch thieves of a currency not recognized as legal tender. Transactions are also often easily traceable. Finally, the RBC analyst noted that some cryptocurrencies as they exist today face challenges of being able to scale, and are subject to cyberattacks or manipulation.
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• Dow closes above 25,000 for the first time after strong jobs data || 5 Blue-Chip Stocks to Sell for December: Stocks continue to grind higher, led by the near-vertical rise of big-cap tech stocks like Amazon.com, Inc. (NASDAQ: AMZN ) and Apple Inc. (NASDAQ: AAPL ). But change is in the air. Bank of America Merrill Lynch chief investment strategist Michael Hartnett, in a note to clients this week, believes it will all end within the next seven months forecasting, The Big Top in the first half of 2018 as the last flames of [quantitative easing], U.S. tax reform and robust [earnings growth] force everyone still skeptical into the market. The catalyst for the eventual top will be the reappearance of inflation pressure, which will be a game changer for this era of central bank largesse that shatters the Goldilocks consensus that weak growth is good (since it means more monetary stimulus) and strong growth is good (since rates will remain low anyway). InvestorPlace - Stock Market News, Stock Advice & Trading Tips The consequence? An end to the current 50-year low in stock market volatility with a flash crash in the vain of the 1987, 1994 and 1998 episodes. 8 Bitcoin Stocks That You Won't Lose Your Shirt Over If so, these five stocks will suffer: Blue-Chip Stocks to Sell in December: Johnson & Johnson (JNJ) Healthcare stocks, in general, have been drifting lower since October, on uncertainty surrounding the Obamacare individual mandate and other issues. Biotech has taken the brunt of the damage, with the iShares Biotech (NYSEARCA: IBB ) down nearly 10%. But larger plays like Johnson & Johnson (NYSE: JNJ ) have been caught in the whirlwind as well. The company will next report results on Jan. 23. Analysts are looking for earnings of $1.72 per share on revenues of $20.1 billion. When the company last reported on Oct. 17, earnings of $1.90 per share beat estimates by 10 cents on a 10.3% rise in revenues. Blue-Chip Stocks to Sell in December: Transocean (RIG) Shares of oilfield services provider Transocean Ltd. (NYSE: RIG ) have dropped back down to test its 200-day moving average, falling some 12% from the highs seen in early November. Story continues Oil stocks have failed to follow the rebound in crude oil in recent days, an expression of uncertainty that chatter of an OPEC oil freeze agreement extension will actually result in persistently higher prices especially with U.S. shale ready and willing to come into the market. The company will next report results on Feb. 21. Analysts are looking for a loss of 24 cents per share on revenues of $650.7 million. 5 Blue-Chip Stocks to Buy for December When the company last reported on Nov. 1, earnings of 16 cents per share beat estimates by 22 cents despite a 10.8% drop in revenues. Blue-Chip Stocks to Sell in December: Bank of America (BAC) Bank of America Corp. (NYSE: BAC ) shares are down more than 5% from their recent high as a flattening of the yield curve as long-term interest rates decline has put pressure on net interest margins hopes and thus profitability expectations. Big bank stocks in general, as a result, have been lagging the broad markets recent push to new record highs. The company will next report results on Jan. 17 before the bell. Analysts are looking for earnings of 48 cents per share on revenues of $22.1 billion. When the company last reported on Oct. 13, earnings of 48 cents per share beat estimates by three cents on a 2.1% rise in revenues. Blue-Chip Stocks to Sell in December: Wells Fargo (WFC) Wells Fargo & Co. (NYSE: WFC ) shares, like other big bank stocks, have been hit by the recent fall in long-term yields. Adding to the pressure has been talk of a reduction or an outright elimination of the mortgage interest deduction as Congress considers tax reform legislation. That would obviously have a dampening effect on loan activity, since it reduces the affordability of large mortgages, and thus revenue growth for banks. The 7 Best Growth Funds to Beat the Market in 2018 The company will next report results on Jan. 12. Analysts are looking for earnings of $1.02 per share on revenues of $22.1 billion. When the company previously reported on Oct. 13, earnings of 84 cents missed estimates by 19 cents on a 1.8% drop in revenues. Blue-Chip Stocks to Sell in December: Halliburton (HAL) Halliburton (NYSE: HAL ) shares are drifting lower to test their October lows, down some 10% from their recent double-top highs as oilfield services stocks come under pressure. The decline has cut in half the rally out of the early 2016 low, which saw shares roughly double on hopes surrounding the OPEC supply freeze agreement. Those hopes are fading now as U.S. shale has lowered their cost basis, causing the global oversupply to persist. The company will next report results on Jan. 22 before the bell. Analysts are looking for earnings of 46 cents per share on revenues of $5.6 billion. When the company reported on Oct. 23, earnings of 42 cents per share beat estimates by four cents on a 42% rise in revenues. 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. The post 5 Blue-Chip Stocks to Sell for December appeared first on InvestorPlace . || U.S. regulator says it will allow CME Group, CBOE to list bitcoin futures: By Michelle Price and John McCrank
WASHINGTON, Dec 1 (Reuters) - The U.S. derivatives regulator said on Friday it would allow CME Group Inc. and CBOE Global Markets Inc. to list bitcoin futures, after the rival bourses were able to show their proposed contracts and trading arrangements met the necessary regulatory requirements.
The announcement by the Commodity Futures Trading Commission (CFTC) paves the way for CME and CBOE to become the first traditional U.S. regulated exchanges to launch trading in bitcoin-related financial contracts, in a watershed moment for the cryptocurrency that should lead to greater regulatory scrutiny.
Trading in the CME and CBOE bitcoin futures contracts, which will be priced against and settled in the cash bitcoin market, should begin by year end, a CFTC official said.
Bitcoin soared above $11,000 for the first time this week, up 10-fold year-to-date and prompting multiple warnings of a bubble.
To guard against volatility, CME and CBOE will put in place stricter than usual risk-management safeguards, including initial margin requirements of between 35 percent and 40 percent.
The exchanges have also agreed to enter into information sharing agreements and to send the CFTC data on the settlement process so the regulator can conduct its own surveillance.
CFTC Chairman Christopher Giancarlo warned investors, however, that the nascent underlying bitcoin cash markets remain largely unregulated and mostly beyond the CFTC's purview.
"We expect that the futures exchanges, through information sharing agreements, will be monitoring the trading activity on the relevant cash platforms for potential impacts on the futures contracts’ price discovery process, including potential market manipulation and market dislocations due to flash rallies and crashes, and trading outages," he said in a statement.
"Nevertheless, investors should be aware of the potentially high level of volatility and risk in trading these contracts.”
CFTC regulations allow designated contract exchanges such as CME to list products for trading without prior CFTC approval by filing a written self-certification with the regulator.
Under the self-certification process, which is a quirk of the futures market, the exchanges file a submission to the CFTC confirming the product complies with the Commodity Exchange Act and CFTC regulations - including a key provision that requires the contract is not susceptible to manipulation.
The CFTC has the power to block the contract but will not do so in this instance.
CME has been vying with CBOE to launch the first bitcoin-related financial product. Nasdaq OMX Group is also eyeing a contract launch before year end, Reuters reported this week. (Reporting by Michelle Price and John McCrank; Editing by Leslie Adler) || Market Snapshot – Oil Prices Move to 2015 Highs, Bitcoin Recovers: Oil Moves to Highs With not much of things going around in the markets over the last week or so, even the smallest of moves have been getting a lot of attention over the last few days. It is a holiday period in most parts of the world and a lot of traders are no longer at their desks and it is likely that they will be returning back to full fledged trading only during the second week of January. But the oil bulls have chosen this specific period of time to make a dent to the confidence of the bears as the oil prices continued to move higher and challenged the $60 region for a brief while. We have been saying that it was only going to be a matter of time before this region is reached and breached and the oil bulls also seem to agree. The blast near a major refinery in Libya has led to fears of disruption in the demand for oil and this has led the prices higher. Bitcoin Stages Smart Recovery Bitcoin rage continues to dominate the market as the prices have staged a smart recovery from its lows. It now trades just below the $16,000 region after rising by around 30% from its lows from last week. The recovery is expected to continue, albeit in a slow manner as we head towards the end of the year and a period of low liquidity and high volatility. This article was originally posted on FX Empire More From FXEMPIRE: Wednesday Support and Resistance Levels – December 27, 2017 Bitcoin Cash, Litecoin and Ripple Daily Analysis – 27/12/17 Bitcoin Holding on with both Hands Crude Surges Driving Energy Shares Higher How will the S&P 500 Perform in 2018? Gold and U.S Crude Oil Produce Holiday Spree, iPhone X Sales Disappoint || Behind bitcoin boom, Japanese retail investors pile in: * Japanese traders said to account for up to half of bitcoin trade
* Many retail investors attracted to inefficiencies, wild moves
* Traders say technical analysis works perfectly in bitcoin trade
* Many see boom has further to go despite talk of bubble
By Hideyuki Sano
TOKYO, Dec 13 (Reuters) - Japan's army of retail investors, no strangers to high risk bets in the past, have emerged as a major force in bitcoin's spectacular rally, now accounting for an estimated 30-50 percent of trading in the cryptocurrency as it spikes to record highs.
Once sceptics, Japanese retail investors have been attracted by the digital currency's volatility and inefficiencies in pricing that create opportunities to make money on arbitrage between exchanges.
"When I first heard about the bitcoin a few years ago, I thought it was a fraud," said Yoshinori Kobayashi, 39, a former stock trader who took up bitcoin trading two-and-a-half years ago.
"But I tried it out after I had come to know some people making money on it. I bought it at 60,000 yen, which quickly become 80,000 yen and I started to regret I hadn't started earlier," said Kobayashi, who believes bitcoin is on a long uptrend but took some profits last week.
The spectacular surge in bitcoin, up more than 16-fold this year to above $17,000, has drawn comparisons to the 1970s gold spike or Japanese shares' rally in the 1980s' go-go era. Both of those delivered massive gains to Japanese retail investors before plunging sharply.
Statistics on bitcoin and crypto-currencies are patchy because their trading is unregulated in most countries.
According to data compiled by Jpbitcoin.com, a Japanese bitcoin website, yen-based bitcoin trades reached a record 4.51 million bitcoins in November, almost a half of the total of the world's major exchanges of 9.29 million bitcoin.
Industry officials say not all yen-based bitcoin trading is done by Japanese retail players as some hedge funds now trade bitcoin in the yen to take advantage of price differentials between the yen and dollar prices.
Still, many industry officials estimate Japanese account for somewhere between a third and half of global bitcoin trade.
Japan's global share of the bitcoin market jumped after a clampdown this year by Beijing saw bitcoin trading in yuan almost entirely disappear.
South Korea, another key centre for bitcoin trade, said it would hold an emergency meeting on Friday to discuss the trading of cryptocurrencies amid calls for tighter regulation.
VALIDITY AND VOLATILITY
Japan's approach to bitcoin has encouraged retail investor interest.
The Japanese government in April granted cryptocurrencies legal status as a means of settlement and in September officially recognised 11 digital currencies exchanges.
Also in September, the tax agency issued clarification that revenues from bitcoin will be treated as income, from which trading losses can be deducted.
That eased concerns that profits from bitcoin might be taxed like gambling, where gains will be taxed but losses will not be regarded as costs.
Some investors including Kobayashi also feel affinity to bitcoin partly because its inventor, Satoshi Nakamoto, is said to be Japanese, though the true identity of the father of the blockchain technology is shrouded in mystery.
Trading at Japanese major bitcoin exchanges grew to 4.51 million bitcoin in November from 1.19 million in April. In dollar terms, it has surged to $35.4 billion in November from $1.45 billion in April.
A lack of major institutional investors is providing retail investors a rare chance to become dominant players, with primitive pricing leaving opportunities for savvy traders, market participants say.
Even within dollar based exchanges, it is not uncommon to see a price in one exchange 10 percent higher than another exchange, for example. Then there are often gaps of more than 10 percent between yen-based bitcoin price and dollar-based price.
"Most Japanese traders don't even bother to check the dollar price," said a veteran financial trader, who started bitcoin in September.
TEXTBOOK CASE
The trader also said bitcoin's moves after it rose above 100,000 yen ($880) are very similar to what happened in a big rally in gold and silver in the past.
"They both rallied very quickly after having broken out many years of range-bound trading," he said.
Indeed, many traders say technical analysis works remarkably well when it comes to bitcoin. Hiroyuki Kato has traded cryptocurrencies for two years, spending two to three hours a day studying the patterns and ratios popular in technical analysis on his smartphone or computer terminal.
"I use Bollinger Band, MACD, the stuff everyone knows. It's easier to win in bitcoin than in FX and stocks," said Kato, who quit his sales job at a trading firm about two years ago to focus on trading cryptocurrencies and other assets.
Among some financial professionals, there is growing talk that the meteoric rise in bitcoin resembles the "tulip mania" bubble in the Netherlands in the 17th century that burst spectacularly. However, many Japanese traders expect bitcoin's stellar run to continue for some time yet.
"The world's total financial assets is around 10 quadrillion yen, and bitcoin is only just about 0.1 percent of that, which seems way too small if we assume the use of bitcoin spreads," Kobayashi said.
Bitcoin's net worth could reach about 10 percent of the world's assets, about 100 times its size today, Kobayashi reckons.
Kato believes the digital currency is already in a bubble but still expects the start of futures trading on the Chicago Merchantile Exchange next week to attract more funds from institutional investors and push up bitcoin prices further.
A major burst could happen in 2019, Kato says, but not until factors including low interest rates and the deep doubts harboured by many change.
"At the moment, many people are still sceptical about bitcoins and when many are sceptical, there won't be a burst of the bubble." ($1 = 113.4700 yen)
(Reporting by Hideyuki Sano, Yoshiyuki Osada and Daiki Iga; Editing by Lincoln Feast) || Why 2017 Was a Year to Remember for Ford Motor Company: 2017 started out as a year to forget for Ford Motor Company (NYSE: F) . The company gave pessimistic guidance in January, followed it up with a rough first quarter -- and then fired its CEO. Have things changed since? It's not yet clear, but there's a chance 2017 will go down in Ford's history as a significant year for good reasons. Here are the highlights. Bill Ford and Mark Fields are shown standing next to a red 2018 Ford F-150 pickup. Ford's executive chairman, Bill Ford, and then-CEO Mark Fields began 2017 by showing off a revamped 2018 version of the huge-selling F-150 pickup. But Fields would be gone before the 2018 F-150 hit the market. Image source: Ford Motor Company. January: Ford predicts that profits will decline In a presentation in January, then-CEO Mark Fields explained that Ford's profits were likely to decline in 2017, as the company ramped up spending on new products and advanced technologies like self-driving systems and electric drivetrains. What Fields didn't explain was how all of that spending would eventually pay off, and when. That didn't seem like a big deal to most observers at the time, but it turned out to be one reason Fields' days as CEO were numbered. April: Ford's first-quarter profit declined 36% Ford's first-quarter result wasn't happy news: Net income fell 36% from the year-ago period, to $1.6 billion, on increased costs. A lot of that was the ramped-up spending we had expected, but some of it wasn't: Ford spent $295 million on recalls in the quarter. That year-over-year decline looks big, and it was. But to be fair, it was a tough comparison: The first quarter of 2016 was Ford's most profitable quarter ever . May: Out with Fields, in with Hackett After months of frustration with Ford's stalled stock price, the board of directors abruptly ushered CEO Mark Fields into an early retirement on May 22. His successor was a surprise: Jim Hackett, the former Steelcase CEO who had joined Ford to run its future-mobility subsidiary. Story continues Jim Hackett and Bill Ford are shown seated before a large Ford-logoed backdrop. Bill Ford, right, introduced Jim Hackett as Ford's new CEO in May. Image source: Ford Motor Company. Hackett had no prior experience running an automaker, but he was (and is) known as a deep thinker who is well-attuned to future-technology trends. Ford's board, led by chairman Bill Ford, saw in Hackett a leader who could realize their vision of Ford as a provider of "personal mobility" as well as a builder of vehicles. A larger shakeup of Ford leadership followed Hackett's promotion was the beginning of a larger shakeup at Ford. He immediately appointed Jim Farley, Joe Hinrichs, and Marcy Klevorn, all highly regarded Ford veterans, to newly created roles as presidents of "global markets," "global operations," and "mobility," respectively. What does that all mean? Think of it this way: Hackett essentially split a traditional chief operating officer's role between the three. Hinrichs is in charge of product development and manufacturing, Farley leads Ford's regional business units and the Lincoln luxury brand, and Klevorn runs information technology, digital services, and the future-mobility subsidiary. (Your humble Fool interviewed Hackett and his boss, executive chairman Bill Ford, a few hours after the news was made public. You can read that interview here .) Ford announced a more expansive management shuffle on May 25, three days after Hackett became CEO, in which a slew of well-regarded Ford veterans moved into new roles. July: Ford's profits rise -- thanks to a tax maneuver Ford's result in the second quarter of 2017 was a decidedly mixed bag. On the one hand, adjusted pre-tax profit fell 16% to $2 billion on higher commodity costs and unfavorable exchange-rate moves, despite good sales of Ford's high-profit pickups. On the other hand, Ford's net income rose slightly after the company gave itself a tax break : Ford's accountants had found ways to use overseas losses to reduce the company's taxes by $421 million in the quarter. Signs of change: Automated pizza delivery and cheap electric cars Hackett hadn't yet articulated a detailed plan for Ford, but evidence of his thinking began to become visible in some new Ford initiatives beginning in August. Among them: A partnership with Domino's Pizza (NYSE: DPZ) in which the two companies began testing the idea of a self-driving pizza-delivery vehicle (a highly modified Ford Fusion). A deal with a small Chinese automaker, Anhui Zotye Automobile, to explore the idea of building a new range of affordable electric vehicles in China. (That deal led to the formation of a new joint venture in November.) A deal with Lyft to test Ford's self-driving vehicles with Lyft's ride-hailing service . A white Ford Fusion sedan with Domino's logos and visible self-driving hardware is shown outside a Domino's restaurant. Automated pizza delivery? Ford and Domino's began testing the idea in August. Image source: Ford Motor Company. October: Hackett shows his plan for Ford Hackett presented his strategy for Ford to Wall Street analysts on October 3. The presentation was short on specifics; instead, Hackett explained the general direction of his thinking about Ford's future, and how that might play out in several parts of the business. In a nutshell, Hackett's plan is to improve Ford's "financial fitness" by reducing product complexity, taking better advantage of its global scale, and shifting investments toward higher-return opportunities (for instance, spending more on higher-margin SUVs and less on lower-profit sedan models.) A key observation from the presentation: Ford's revenue has grown significantly over the last several years, but so have its costs. By slowing the rate of cost growth, Hackett hopes to improve Ford's profit margins over time. Ford's third-quarter profit jumped 63% -- but that's not as good as it sounds Ford reported its third-quarter earnings in late October, and at first glance, they looked great: The Blue Oval's net income rose a whopping 63% to $1.6 billion, a gain that Ford attributed to (among other things) cost reductions and strong pickup sales. Was Hackett's vision already becoming reality? Not quite. While Ford's pickup sales did generate a lot of profit, much of the year-over-year gain had to do with the expensive launch of Ford's all-new Super Duty pickups in the third quarter of 2016 . The truth is that the third quarter of 2017 was only so-so for Ford, as its margins were squeezed by ramped-up discounting in a stalled market. But a tough year-ago result made for a flattering comparison. A high-performance "Raptor" version of the Ford Ranger pickup undergoing testing in the Australian outback. Coming in 2018: The midsize Ford Ranger pickup returns to the U.S. lineup. Image source: Ford Motor Company. Up next in 2018: A new Ranger and more details on Ford's future Ford plans to begin producing a new version of its midsize Ranger pickup for the U.S. market late next year. It's expected to show the new Ranger at the North American International Auto Show in January. Around the same time, Ford will release its guidance for 2018. That should give us an answer to the big question hanging over Ford right now: How quickly will Hackett's efforts lead to profit growth? The near-term outlook for Ford's stock will hang largely on the answer to that question. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Rosevear owns shares of Ford. The Motley Fool owns shares of and recommends Ford. The Motley Fool has a disclosure policy .
[Random Sample of Social Media Buzz (last 60 days)]
Noticia: TLCAN, BMV, Fibra Uno, brexit, bitcoin, Barrales, Vex, ASF: Resumen del día - <!doctype html> <p>¿Quieres recibir en tu correo el resumen de las noticias del día? Suscríbete <i><a href='http://expansion.mx/suscribete?internal_source=SEGUNDO_MENU …' data-cms-ai='0' style='text-sha... http://ow.ly/Ifvw50fCcU8 || CORRE POR TU OFERTA Y NO DUDES ADQUIRIR POR SOLO $2.00 TU #HALO CE.
https://ultimategameserver.com/haloce.php
#VISA #BBVA #BITCOIN #GamersUnite #pcgamer #csgo #Minecraftpic.twitter.com/aNJquMEYt0 || New post: "Australia becomes World’s First to Move Stock Exchange to A Blockchain" http://ift.tt/2Bmy3xr || Bitcoin, 159 ülkeye yetecek kadar enerji tüketiyor!
ERZURUM UN İLK TEKNOLOJİ VE OTOMOTİV ADRESİ
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#bitcoin #haber #teknolojipic.twitter.com/oUfLrtOFdq || USD: 113.260
EUR: 134.290
GBP: 151.270
AUD: 87.380
NZD: 79.520
CNY: 17.214
CHF: 114.462
BTC: 1,804,965
ETH: 88,880
Sun Dec 24 00:00 JST || CREAM- betting against BTC might be expensive @creamcoin #BTC #futures #options #exchanges http://www.cream.technology/index.php/crypto-news/96-bitcoin/700-betting-against-bitcoin-is-about-to-get-a-lot-more-expensive …pic.twitter.com/EKK1bXCMlF || bitcoin priceってゆうか、 || Tiffany Haddishちゃんが || Gold-Backed Bitcoin to Become New Global Monetary System? http://ift.tt/2BYAm7b || Tiffany Haddishちゃんが
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Trend: down || Prices: 13819.80, 11490.50, 11188.60, 11474.90, 11607.40, 12899.20, 11600.10, 10931.40, 10868.40, 11359.40
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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 2016-10-11]
BTC Price: 641.07, BTC RSI: 75.71
Gold Price: 1253.00, Gold RSI: 27.19
Oil Price: 50.79, Oil RSI: 65.08
[Random Sample of News (last 60 days)]
Hacking group claims to offer cyber-weapons in online auction: By Joseph Menn
(Reuters) - Hackers going by the name Shadow Brokers said on Monday they will auction stolen surveillance tools they say were used by a cyber group linked to the U.S. National Security Agency.
To arouse interest in the auction, the hackers released samples of programs they said could break into popular firewall software made by companies including Cisco Systems Inc, Juniper Networks Inc and Fortinet Inc.
The companies did not respond to request for comment, nor did the NSA.
Writing in imperfect English, the Shadow Brokers promised in postings on a Tumblr blog that the auctioned material would contain “cyber weapons” developed by the Equation Group, a hacking group that cyber security experts widely believe to be an arm of the NSA. [http://reut.rs/2aVA7LD]
The Shadow Brokers said the programs they will auction will be “better than Stuxnet,” a malicious computer worm widely attributed to the United States and Israel that sabotaged Iran’s nuclear program.
Reuters could not contact the Shadow Brokers or verify their assertions. Some experts who looked at the samples posted on Tumblr said they included programs that had previously been described and therefore were unlikely to cause major damage.
“The data [released so far] appears to be relatively old; some of the programs have already been known for years,” said researcher Claudio Guarnieri, and are unlikely “to cause any significant operational damage.”
Still, they appeared to be genuine tools that might work if flaws have not been addressed. After examining the code released Monday, Matt Suiche, founder of UAE-based security startup Comae Technologies, concluded they looked like "could be used."
Other security experts warned the posting could prove to be a hoax. The group said interested parties had to send funds in advance of winning the auction via Bitcoin currency and would not get their money back if they lost.
The auction will end at an unspecified time, Shadow Brokers said, encouraging bidders to "keep bidding until we announce winner."
(Editing by Cynthia Osterman) || 'Grumpy hold-outs' could sink Bitfinex recovery plan after Bitcoin theft: By Clare Baldwin HONG KONG (Reuters) - Crypto-currency exchange Bitfinex's plan to impose losses on all its trading clients for the theft by hackers of $72 million in Bitcoin rests on two flawed pillars, according to lawyers. The Hong Kong-based exchange said on August 2 that hackers had stolen 119,756 bitcoins from some clients' accounts, the second-biggest such hack in dollar terms, and later said it would spread the losses across all its customers, whether or not they had been hacked or even held bitcoin. It said customers would forfeit 36 percent of their holdings and be given "BFX tokens" instead that could be redeemed by the exchange or converted to shares in its parent company iFinex. Both elements of the plan are open to legal challenge, lawyers said. Imposing losses on customers who were not hacked appears to go against the company's terms of service, said Ryan Straus, a Fenwick & West lawyer who advises financial technology companies on regulation and co-authored the U.S. chapter of a book on bitcoin law. The terms state "bitcoins in your multi-signature wallets belong to and are owned by you", which Straus said implied a special banking relationship with clients that the Bitfinex plan would breach. "The depository ... is obligated to return, on demand, the same monetary objects deposited," he said, quoting a line from his book. The exchange's tokens could also be problematic, said Zach Zweihorn, a lawyer at DavisPolk who specialises in U.S. securities and trading laws. The way they are currently being described - redeemable by the exchange or convertible to shares in iFinex - places them somewhere between a bond and a security and makes it highly likely that issuing them and trading them would require licences in the U.S. that Bitfinex doesn't have. "If they are issuing an equity interest in their parent company, I don't really think the fact that it's evidenced through an electronic token ... really changes the analysis of whether it's a security," said Zweihorn. Story continues 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) || Hacker Group Claims to Be Selling NSA Files: UPDATED Tuesday morning with Edward Snowden's comments, Tuesday afternoon with a comprehensive list of purported NSA tools referenced in the data dump and Friday morning with a statement from WatchGuard Technologies. It's either a very elaborate hoax, or it's evidence that someone has hacked into the U.S. National Security Agency. On Saturday (Aug. 13), tweets and other online postings from a new group calling itself "Shadow Brokers" said that it was auctioning off files stolen from the "Equation Group." Equation Group is Kaspersky Lab's name for an extremely sophisticated cyberespionage group with ties to the Stuxnet computer worm, which in 2010 damaged Iranian nuclear-fuel-processing facilities. The unspoken understanding is that the Equation Group is part of the NSA. "We hack Equation Group. We find many many Equation Group cyber weapons. You see pictures. We give you some Equation Group files free, you see. This is good proof no?" read an entertaining message posted on Pastebin by Shadow Brokers. "You enjoy!!! You break many things. You find many intrusions. You write many words. But not all, we are auction the best files." MORE: 7 Ways to Stop NSA Spying on Your Smartphone As proof, Shadow Brokers posted links to various file-sharing services, from which a 235MB Zip file could be downloaded. Shadow Broker said that the Zip file was just a sample of the Equation Group files it had. Security experts who have looked at the files say they bear names like EGREGIOUSBLUNDER, ELIGIBLEBACHELOR and ESCALATEPLOWMAN, and detail ways to get through commercially available firewall software. Documents leaked in 2013 by former NSA contractor Edward Snowden, along with other evidence, indicated the existence of NSA tools with similarly sillly-sounding names, such as IRATEMONK, STELLARWIND and EGOTISTICALGIRAFFE. Hoax or not, some of the files in the Shadow Brokers data dump appear to be genuine malware, said researchers. Story continues "There are actual exploits in the dump, with a 2013 timestamp on files," wrote Matt Suiche , a well-known French security researcher, in a Medium post Monday (Aug. 15). "We do not know if they are working as nobody has tried them, but they are actual exploits and not only references." "Equation Group's ELIGIBLECANDIDATE exploits an RCE [remote code execution] vulnerability in HTTP cookies in a TOPSEC firewall CGI script," tweeted Mustafa Al-Bassam , a British researcher who was once a member of the Lulzsec hacking crew. (TOPSEC is a Chinese cloud-security provider.) "ESCALATEPLOWMAN is actually a privilege escalation exploit against WatchGuard firewalls." In more (deliberately?) broken English, the Shadow Brokers missive instructed interested parties to bid for the files using Bitcoin. The document didn't say how many files in total Shadow Brokers had. "If you like free files (proof), you send bitcoin," says the message. "If you want know your networks hacked, you send bitcoin. If you want hack networks as like equation group, you send bitcoin. If you want reverse, write many words, make big name for self, get many customers, you send bitcoin. If want to know what we take, you send bitcoin." If the documents really are from the NSA, how did Shadow Brokers get their hands on them? Who's crafty enough to hack the NSA? The Grugq, a pseudonymous South African bug broker i.e., he sells newly found "zero-day" software exploits to intelligence agencies such as the NSA put forward a theory on Twitter earlier Monday. "This dump does not support the assertion that NSA was hacked. That sort of access is too valuable to waste for (almost) any reason," the Grugq tweeted . "I would guess: the dump is the take from a counter hack against a pivot/C2 [malware command-and-control server] that was mistakenly loaded with too much data. [Stuff] happens." UPDATE: Edward Snowden himself Tuesday (Aug. 16) piped in on Twitter about the purported NSA files, agreeing with the Grugq that they came from a malware command-and-control server. Snowden blamed Russian state-sponsored hackers trying to do damage control in the wake of the theft, and subsequent release, of embarrassing documents from the Democratic National Committee's email servers. "NSA malware staging servers getting hacked by a rival is not new. A rival publicly demonstrating they have done so is," Snowden wrote. "I suspect this is more diplomacy than intelligence, related to the escalation around the DNC hack. "Circumstantial evidence and conventional wisdom indicates Russian responsibility," he continued. "Here's why that is significant: This leak is likely a warning that someone can prove U.S. responsibility for any attacks that originated from this malware server." "That could have significant foreign policy consequences. Particularly if any of those operations targeted U.S. allies. Particularly if any of those operations targeted elections," Snowden wrote. "Accordingly, this may be an effort to influence the calculus of decision-makers wondering how sharply to respond to the DNC hacks." UPDATE: Mustafa Al-Bassam has posted a list of the purported Equation Group tools and exploits referenced in the "free" documents released by Shadow Brokers. Our favorite is EPICBANANA, which Al-Bassam describes as "a privilege escalation exploit against Cisco Adaptive Security Appliance (ASA) and Cisco Private Internet eXchange (PIX) devices." UPDATE: In a statement provided to Tom's Guide, WatchGuard Technologies responded to the Shadow Brokers data dump: "WatchGuard takes all reported vulnerabilities seriously and values the effort that security researchers put into the responsible disclosure of potential exploits. We investigated the reported exploit and found that it cannot be used against any of our currently supported appliances. The referenced vulnerability was actually targeting RapidStream appliances, a company WatchGuard acquired in 2002. This RapidStream exploit did not carry over into any WatchGuard appliances and is not a vulnerability for our current customers." How the NSA's Spying Keeps You Safe 10 Worst Data Breaches of All Time Can You Hide Anything from the NSA? Copyright 2016 Toms Guides , a Purch company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. || Your first trade for Wednesday, September 14: The " Fast Money " traders shared their first moves for the market open. Pete Najarian was a buyer of Lululemon ( LULU ) . Dan Nathan was a seller of the Financial Select Sector SPDR Fund (NYSE Arca: XLF) . Brian Kelly was a seller of the iShares MSCI Emerging Markets ETF (NYSE Arca: EEM) . Guy Adami was a buyer of Allergan ( AGN ) . Trader disclosure: On September 13, 2016, 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 was long AAPL, BAC, BMY, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, PEP, PFE, VIAB; Long Calls: AAL, AMD, ABT, AKS, BAC, CIT, CNX, COP, CRM, CSCO, CYH, DISH, DVN, EGO, ETP, FSLR, FXI, GLD, GS, HALO, JBLU, KGC, KMI, KO, LLY, LULU, M, MS, MT, NEM, SBUX, SLV, SWKS, SYMC, TGT, TWTR, TTS, UA, VRX, XLE Long Puts: CLV, MBLY, MRO, TSLA, EEM. Brian Kelly was long Bitcoin, CME, DXJ, GDX, KBE, SLV, TLT, VXX, XLF, XOP, US Dollar UUP; he is short EUR=, JPY=. Dan Nathan was long TWTR, IWM long Sept put, long PYPL call calendar, XOP Sept put spread, BAC long Sept put, Long FEZ Nov put spread, long EEM Nov put spread, long FB Sept put spread, AAPL long Nov 105/95 put spread, long XLK Jan put spread. Guy Adami was long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. || Liberty Global partners with Ericsson to expand DVR services in Latin America: • LibertyGlobal Group (LiLACGroup) simplifies DVR expansion through Ericsson`s Video Storage and Processing Platform (VSPP) in Latin America
• LiLAC Group`s customers will have access to DVR services, including future updates to support the trend towards time-shifted TV
• Contract strengthens Ericsson`s position as a leading provider of TV and media solutions in Latin America
Ericsson (ERIC) and Liberty Global today confirms a new two-year deal between VTR in Chile and Liberty Cablevision of Puerto Rico, both part of LiLAC Group (Liberty Latin-America and Caribbean, part of Liberty Global Group).
With Ericsson`s Video Storage and Processing Platform (VSPP), the TV operators will be able to expand the reach of their Digital Video Recording (DVR) services (known as Catch-up TV and Restart TV) across their countries.
Latin American TV consumers are rapidly changing their habits and expectations, where they now want to decide what they want to watch and pick-and-mix their own services. The new deal addresses this issue, allowing LiLAC Group to build innovative and compelling consumer experiences.
Ericsson`s VSPP simplifies the recording capabilities and provides enriched functionalities for LiLAC`s linear TV services. It also offers a unique, proven infrastructure that allows for seamless augmentation and replacement of legacy television services with new cloud-based services.
Furthermore, Ericsson`s VSPP provides outstanding performance gains and greatly simplifies Cloud DVR and video on demand (VoD) architectures, allowing operators to avoid many of the complexities and costs associated with these new services.
Adrian Gioia, Head of TV & Media, Ericsson Latin America and Caribbean, says: "We are looking forward to supporting LiLAC Group in delivering ever-improving content, quality and features that delight TV consumers and meet their unique and ever-changing needs. With our solution we are addressing all customer segments with unique configurations, while providing LiLAC Group with the ability to future-proof and grow as they see necessary."
Derek Yeaomans, Logistic Manager at VTR, says: "We consider DVR a very attractive entertainment service for our customers and we are pleased to now provide them with an enriched user experience that lets them enjoy the service even more. Working with Ericsson makes us confident we will continue to succeed in meeting consumer expectations into the future."
With a recent history of more than 50 transformation programs delivered globally, Ericsson`s consulting and systems integration services represent the perfect combination of competence, scale and presence that help TV and media organizations meet their goals. With a global team of media experts ready to take on complex media transformation projects, Ericsson is the market leader in Cloud DVR deployment and services, having performed multiple deployments and with ongoing trials with major Tier 1 operators around the world.
NOTES TO EDITORS
For media kits, backgrounders and high-resolution photos, please visitwww.ericsson.com/press
Ericsson is the driving force behind the Networked Society - a world leader in communications technology and services. Our long-term relationships with every major telecom operator in the world allow people, business and society to fulfill their potential and create a more sustainable future.
Our services, software and infrastructure - especially in mobility, broadband and the cloud- are enabling the telecom industry and other sectors to do better business, increase efficiency, improve the user experience and capture new opportunities.
With approximately 115,000 professionals and customers in 180 countries,we combine global scale with technology and services leadership. We support networks that connect more than 2.5 billion subscribers. Forty percent of the world`s mobile traffic is carried over Ericsson networks. And our investments in research and development ensure that our solutions - and our customers - stay in front.
Founded in 1876, Ericsson has its headquarters in Stockholm, Sweden. Net sales in2015 were SEK 246.9 billion (USD 29.4 billion). Ericsson is listed on NASDAQ OMX stock exchange in Stockholm and the NASDAQ in New York.
www.ericsson.comwww.ericsson.com/newswww.twitter.com/ericssonpresswww.facebook.com/ericssonwww.youtube.com/ericsson
FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate CommunicationsPhone: +46 10 719 69 92E-mail:[email protected]
Ericsson Investor RelationsPhone: +46 10 719 00 00E-mail:[email protected]
About Liberty GlobalLiberty Global is the world`s largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. Liberty Global invests in the infrastructure that empowers its customers to make the most of the digital revolution. Liberty Global`s scale and commitment to innovation enables it to develop market-leading products delivered through next-generation networks that connect its customers who subscribe to over 59 million television, broadband internet and telephony services. Liberty Global also serves over ten million mobile subscribers and offers WiFi service across six million access points.
Liberty Global`s businesses are comprised of two stocks: the Liberty Global Group (NASDAQ: LBTYA, LBTYB and LBTYK) for its European operations, and the LiLAC Group (NASDAQ: LILA and LILAK, OTC Link: LILAB), which consists of its operations in Latin America and the Caribbean.
The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a submarine fiber network throughout the region in over 30 markets.
For more information, visitwww.libertyglobal.comand follow Liberty Global ontwitter,LinkedIn,FacebookandInstagram.
[["Oskar Nooij", "+1 303 220 4218", "", "Matt Beake", "+44 20 8483 6428"], ["Christian Fangmann", "+49 221 8462 5151", "", "Andrew Mitchell", "+44 79 4628 6586"], ["John Rea", "+1 303 220 4238", "", "", ""]]
Liberty Global partners with Ericsson to expand DVR services
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: Ericsson via GlobeNewswireHUG#2044536 || John McAfee's MGT receives SEC subpoena, shares slump: By Noel Randewich and Jim Finkle
(Reuters) - Shares in a firm led by anti-virus software pioneer John McAfee fell 24 percent on Monday after it disclosed that it had received a subpoena from the U.S. Securities and Exchange Commission.
The company, MGT Capital Investments Inc (MGT.A), said in a statement that it was cooperating with the SEC after receiving the subpoena on Thursday and that it does not believe it is or will be subject to any enforcement proceedings.
In May of this year, shares in MGT surged more than 1,200 percent after the mobile gaming company said McAfee would become its chief executive. It said it would enter the fast-growing cyber-security market through acquisitions.
MGT shares fell 97 cents to $2.47 in late-afternoon trade, trimming its market capitalization to about $64 million.
An SEC spokesman declined to say why it subpoenaed MGT and what information it wanted. An MGT spokesman also declined to comment.
With McAfee at the helm, MGT has said it plans to acquire security technologies to address threats to mobile and personal devices.
McAfee was the subject of a media frenzy in 2012 when he fled his home in Belize after police sought to question him about the murder of a neighbor. They ultimately said he was not a suspect.
Chipmaker Intel (INTC.O), which bought McAfee Inc for $7.7 billion in 2010, long after its founder had left the company, said recently that it would spin off the unit.
McAfee and MGT recently sued Intel for the right to use the McAfee name.
McAfee said during a conference call on Thursday that he expected MGT to begin generating revenue in the second quarter of next year after launching its first product at the end of 2016. He declined several requests from callers to provide financial projections.
"I really can't say now about future revenue streams, but I certainly tell you that what we are doing and what we are building is going to be monumental," McAfee said in response to one of the questions, from a man identified as an individual investor.
"Good enough for me, man. Good enough," the man replied.
MGT also said it launched a Bitcoin mining operation, which involves using customized computers to earn Bitcoins in return for recording and verifying transactions in the crypto-currency.
(Reporting by Noel Randewich and Jim Finkle; Editing by Dan Grebler) || Traders strategize ahead of Bank of Japan, Fed meetings: The "Fast Money" traders debated how investors should position their portfolios ahead of two major central bank meetings.
Trader Brian Kelly said that there is a real chance theBank of JapanandFederal Reservewill disrupt the recent rally. He said that if the BOJ announces a "massive stimulus program ... the dollar(Intercontinental Exchange US: .DXY)is going to rip." Kelly said, however, if the BOJ does nothing, there will be "a lot of problems all over the place because they need something."
Kelly said that he would be long the dollar ahead of the Fed's meeting. He said "the odds of the dollar going lower are very slim at this point in time."
Trader Tim Seymour said the BOJ meeting may be more important than the Fed's because it's unlikely the U.S. central bank will announce any major policy changes this week. He said that the real risk is if the BOJ doesn't provide as much stimulus as economists expect, which would cause the yen(Exchange:JPY=)to surge against the dollar.
Trader David Seaburg said investors can find opportunities by looking for dislocation. He said that the financials(NYSE Arca: XLF)might sell off and he would be looking to buy the companies he likes the most in that sector if that happens. Seymour said he also likes the financials, which are "historically cheap."
Disclosures:
BRIAN KELLY
Brian Kelly is long Bitcoin, CME, DXJ, GDX, KBE, SLV, TLT, VXX, XLF, XOP, US Dollar UUP. He is short the euro and Japanese yen.
DAN NATHAN
Dan Nathan is long TWTR, long PYPL call calendar, long FEZ Nov put spread, long EEM Nov put spread, long XHB Jan put spread, long XLK Jan put spread, XLU Dec call spread
TIM SEYMOUR
Tim Seymour is long APC, AVP, BAC, BBRY, CLF, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GRMN, GE, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. short: SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short HYG, IWM, UAL.
DAVID SEABURG
Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc. David Seaburg and Cowen have a financial interest in EDIT. Diamond Offshore: an employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore. EXPE, HZNP, VA – Not Approved. || '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) || 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 (JPM.N) 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. Lawyers for Murgio did not immediately respond to requests for comment. 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) View comments || Hacking group claims to offer cyber-weapons in online auction: By Joseph Menn REUTERS - Hackers going by the name Shadow Brokers said on Monday they will auction stolen surveillance tools they say were used by a cyber group linked to the U.S. National Security Agency. To arouse interest in the auction, the hackers released samples of programs they said could break into popular firewall software made by companies including Cisco Systems Inc, Juniper Networks Inc and Fortinet Inc. The companies did not respond to request for comment, nor did the NSA. Writing in imperfect English, the Shadow Brokers promised in postings on a Tumblr blog that the auctioned material would contain cyber weapons developed by the Equation Group, a hacking group that cyber security experts widely believe to be an arm of the NSA. The Shadow Brokers said the programs they will auction will be better than Stuxnet, a malicious computer worm widely attributed to the United States and Israel that sabotaged Irans nuclear programme. Reuters could not contact the Shadow Brokers or verify their assertions. Some experts who looked at the samples posted on Tumblr said they included programs that had previously been described and therefore were unlikely to cause major damage. The data [released so far] appears to be relatively old; some of the programs have already been known for years, said researcher Claudio Guarnieri, and are unlikely to cause any significant operational damage. Still, they appeared to be genuine tools that might work if flaws have not been addressed. After examining the code released Monday, Matt Suiche, founder of UAE-based security startup Comae Technologies, concluded they looked like "could be used." Other security experts warned the posting could prove to be a hoax. The group said interested parties had to send funds in advance of winning the auction via Bitcoin currency and would not get their money back if they lost. The auction will end at an unspecified time, Shadow Brokers said, encouraging bidders to "keep bidding until we announce winner." (Editing by Cynthia Osterman)
[Random Sample of Social Media Buzz (last 60 days)]
#Anoncoin/#ANC price now: $0.161498, that's -0.00% change in 1hour. 5.84% past day, and -4.04% in the past week! #Bitcoin is $606.75 || $618.70 #bitfinex;
$618.76 #GDAX;
$617.00 #btce;
$613.62 #bitstamp;
$717.19 #localbitcoins;
#bitcoin news: http://bit.ly/1VI6Yse || #goldcoinjar share: Bitcoin Price Rally Delayed: Bitcoin price has faked advance, and now proce... http://bit.ly/2bfbucu #bitcoin #btc || Be judicious, buy your bitcoins at https://Bittylicious.com/refer/2465 £455.00 per BTC. (BPI +4.34%) #buy #bitcoin #banktrans || #UFOCoin #UFO $0.000012 (0.25%) 0.00000002 BTC (-0.00%) || Today's Bitcoin Price 608.00 USD via Chain || The Hardware Bitcoin Wallet. Get Trezor now for only $99 https://buytrezor.com?a=coinokbuytrezor.com/?a=coinok #btc #bitcoin 00 pic.twitter.com/5p4CEhgYg2 || #TrollCoin #TROLL $0.000024 (0.07%) 0.00000004 BTC (-0.00%) || #Bitcoin last trade
@bitfinex $576.00
@btcecom $575.04
Set #crypto #price #alerts at http://AlertCo.in || #TrollCoin #TROLL $0.000024 (-2.00%) 0.00000004 BTC (-0.00%)
|
Trend: no change || Prices: 636.19, 636.79, 640.38, 638.65, 641.63, 639.19, 637.96, 630.52, 630.86, 632.83
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2016-08-01]
BTC Price: 606.27, BTC RSI: 33.82
Gold Price: 1351.40, Gold RSI: 63.07
Oil Price: 40.06, Oil RSI: 30.51
[Random Sample of News (last 60 days)]
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. || Former U.S. Secret Service agent suspected in additional Bitcoin thefts: By Joseph Menn SAN FRANCISCO (Reuters) - A Secret Service agent who stole money seized by the government in the investigation of underground drug bazaar Silk Road is now suspected of stealing money in at least two other cases, according to court filings unsealed on Thursday. In the larger of those cases, he is thought to have been behind the theft of about $700,000 worth of Bitcoin from a Secret Service account three months after the agency was urged to block his access, the documents say. Former agent Shaun Bridges pleaded guilty last year and was sentenced in December to nearly six years in prison for stealing more than $800,000 of the crypto currency Bitcoin during the Silk Road investigation. According to an affidavit unsealed Thursday, the Justice Department learned in April 2015 that Bridges might have kept a private cryptographic key giving him access to a Bitcoin wallet with the $700,000 in currency that the Silk Road task force had seized in 2014. The department urged the agency to move the funds elsewhere. “Unfortunately, the U.S. Secret Service did not do so and the funds were thereafter stolen, something the U.S, Secret Service only discovered once it was ordered by a court to pay a portion of the seizure back to affected claimants,” a team of prosecutors wrote in an accompanying motion. The Bitcoin in question was moved in July 2015 but only discovered missing in December, the affidavit said. The Secret Service and Bridges' attorney Steven Levin declined to comment. In the previous case, Bridges admitted he stole money from Silk Road accounts and framed someone else for it, leading Silk Road chief Ross Ulbricht to plan a murder. Ulbricht is now serving a life sentence. (Reporting by Joseph Menn; Editing by Cynthia Osterman) || What Is Blockchain, And Why Should You Care?: Analysts at Goldman Sachs define "blockchain" as a type of environment that acts like a "a shared digital ledger of transactions recorded and verified across a network of participants in a tamper-proof chain that is visible to all."
Bitcoin is considered to be the first technology to use the blockchain, as every transaction is recorded and made public. According toBrian Forde,the director of Digital Currency at the MIT Media Lab, governments need to fully understand the impact of blockchain-based applications and understand how the technology might be used to increase trust.
Writing for Tech Crunch, Forde noted that governments are in the very early stages of implementing this new concept. For example, the Governor of Delawareannouncedhis administration plans on registering companies, tracking share movements and managing investor communications in blockchain environment.
Related Link: Goldman Sachs Says Blockchain Could Drive Airbnb To Top Spot For Lodging By 2020
The use of a blockchain-type of system could also offer every person a personal digital medical record that would be accessible by any authorized user at any time, while also being portable and secure in its privacy.
"Ultimately, by supporting the development of public blockchain-based government applications and funding critical research of this promising technology — the next president will have the power to significantly increase trust in government, decrease bureaucracy and protect consumer data based on the feedback from the cryptocurrency community," Forde wrote.
Finally, Forde suggested that Hillary Clinton's recentpolicy goalsfor technology and innovation and the use of blockchain government applications is a "positive step forward" in achieving its goals.
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© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || PowerBTC is Offering Higher Price for Bitcoin Sellers: NEW YORK, NY / ACCESSWIRE / August 1, 2016 /PowerBTC LLC (www.PowerBTC.com), a cryptocurrency trading company based in New York, today announces that the company has launched an attractive offer for Bitcoin sellers worldwide.https://youtu.be/h-cffzcrEI8.
The company is offering its clients the possibility to sell their Bitcoin for a price which is higher than the one offered by other cryptocurrency markets, depending on the amounts they intend to sell and the recurrence of their transactions with PowerBTC.
Within this approach, the company keeps track of its clients and the amounts they sell by enlisting them within the company's secured data bases. All the information being saved is the clients' e-mail address and the amount of Bitcoin they have sold to PowerBTC. By filing this data, PowerBTC's operators are able to access the client's business history with the company and tailor special offers, encouraging the client to return for more and thus enabling a high retainment rate within the company's portfolio, while also developing the business in a sound and healthy manner. Such strategy aims to encourage both prospects and the existing clients of the company.
Extracted from the company's transactions history, the price for Bitcoin on PowerBTC on July 29th was USD 734, while, on the same date, Blockchain's official price was USD 660.
While the offer may appear to be a bit chaotic for the regular seller, the mechanism behind it is based not only on the company's appetite for Bitcoin purchase, but also on the outcome of the Bitcoin PowerBTC is reinvesting, together with a sophisticated calculus and certain principles common within any financial services business.
Tom Clark, Founder and CEO of PowerBTC, expressed his confidence in the fact that the new strategy, together with the investment budget approved by the Board, has made just the right marketing combination in order to overcome the entire competition on the Bitcoin exchange market.
PowerBTC LLC. is proud to offer not only very good business terms to its clients, but also excellent services and assistance throughout the entire transaction process. More information can be found on PowerBTC's official web-site:www.PowerBTC.com.
CONTACT:
Email :[email protected] : (917) 979-2728
SOURCE:PowerBTC LLC || British bitcoin market sent extraordinary signals ahead of the Brexit vote: The price of the digital currency bitcoin rose 6.5% in the 24 hours directly after Britain voted to leave the European Union. And while the coin had already been on a ride over the two weeks before the vote (it's up 25% in the last month),for a number of factors besides the Brexit, it is likely that uncertainty over the situation stoked interest in the cryptocurrency, which is seen as an investment asset uncorrelated to the broader economy.
New data from Coinbase, which offers the leading bitcoin wallet and a popular bitcoin exchange, proves that the prospect of Brexit had an impact on bitcoin even before the referendum vote.
In the week leading up to the vote (June 13-20),Coinbase saw a55% increase in new account sign-ups from Great Britain, and a 350% increase in bitcoin purchases from UK customers.
On the day of the Brexit vote, Coinbase saw an 86% increase in Great Britain signups.
It's one of the largest spikes in activity Coinbase has ever seen from one region in one week.
The British bitcoin bump is a reminder, a Coinbase spokesperson says, that bitcoin "has long been a hedge against turmoil in Greece, capital controls in China, and macro-economic issues." Indeed, many compare the coin to gold as an investment vehicle. The current market cap of all bitcoins is $10.1 billion.
Coinbase, founded in 2012, has 4 million users and is now operable in 32 countries. Itlaunched in the UK just one year ago, giving Brits the ability to buy bitcoin using pounds, euros or dollars. In the US, it recentlyadded the ability for customers to buy bitcoin instantly using a debit card, making it even easier to buy up coin.
Expect the fervor around Brexit to show a continued impact on the price of bitcoin.
For a conversation with Coinbase cofounder Fred Ehrsam, watch the above video.
--
Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Follow him on Twitter at @readDanwrite.
Read more of Yahoo Finance’s Brexit coverage:
The latest Bitcoin price hike is not all about Brexit
This crazy Brexit flowchart shows how the UK could still remain in the EU
Brexit might not be so bad for... Burberry
Harry Potter author JK Rowling unleashes fury at Brexit voters || What the Brexit means for your retirement: Brexit and the chaos it unleashed in financial markets are no reason for investors with a sound financial plan to panic. That’s the word from Ric Edelman, who runs one of America’s top financial advisory firms. Stocks ( ^DJI , ^IXIC , ^GSPC ) tanked on Friday, with all three major indexes plunging three to four percent. Investors turned to classic safe havens, sending gold prices ( GCN16.CMX ) soaring and bond yields ( ^TNX ) sharply lower. U.S. stocks are pointing to a slightly lower open Monday after mixed results in Europe and Asia overnight. “This is a classic knee-jerk reaction from Wall Street traders,” Edelman tells Yahoo Finance about the Brexit selloff in stocks . “Our clients are focused on their long-term goals. There will be no sustained impact five years from now. They can ignore it, or if anything, capitalize.” Edelman Financial Services manages $16 billion for more than 30,000 clients. Edelman says given Brexit, the US presidential election and other worries, investors should expect market volatility for a while. In response to wild market swings, his strong advice is “do not change your long-term investment strategy.” Edelman says his clients will take advantage of the volatility to rebalance their portfolios, selling assets that have appreciated in value and adding assets like stocks that have suffered declines. “This represents investment opportunity,” he said. Unfortunately, Edelman says, many investors will do exactly the opposite and dump stocks when they’re falling. “Nobody knows how low is low, and nobody knows what the market is going to do to. Trying to time the market is a fool’s bet , and that’s precisely what a lot of people try to do.” That said, Edelman says events like the Brexit vote and the market’s reaction are a good time for people who need to get their financial houses in order to take action and to avoid making mistakes. “If you don’t have a long term strategy, if you’re not properly diversified, this is the time to get effective financial advice,” Edelman says. “Investors could act on impulse and do the very wrong thing at the very wrong time.” Story continues More from Yahoo Finance The Brexit vote could bring uncertainty to America's scotch imports The big question looming over the markets after the Brexit bombshell The newest Bitcoin price surge isn’t just about Brexit || WRIT Media Group Announces Beta Availability of CrypStock Crypto Currency Exchange: LOS ANGELES, CA--(Marketwired - Jul 5, 2016) - WRIT Media Group, Inc. ( OTCQB : WRIT ) today introduces beta availability for its CrypStock crypto currency exchange at the following website: www.CrypStock.com . CrypStock is a crypto-currency exchange, striving to combine the crypto-currency uniqueness with the benefits of a user-friendly but sophisticated exchange system. The platform aims to give a great user experience matched with fast support, and will add new digital currencies based on popularity and requests by account holders. The Company plans to introduce a number of proprietary trading modules, including: Binary options on the Bitcoin/USD pair - the simplest type of derivative financial instruments, allowing traders to make potential profit from trend forecasting. Futures on the Bitcoin/USD pair - the most popular financial instrument in the world, providing an ability to trade with big leverage and volume. Algorithm trading subsystem - traders will benefit from a friendly visual wizard for automatic trading creation, back-testing and real-time execution. "Although the addition of another crypto-currency exchange may seem trivial, the development creates a potential shift in the cryptocurrency landscape, allowing more users direct access to the Company's Pelecoin currency," states Eric Mitchell, President of WRIT Media Group. "Pelecoin will trade against Bitcoin and other digital currencies, effectively creating a direct path between a non-Bitcoin asset and Bitcoin funding." WRIT Media Group plans to integrate a full system into the platform to run a digital currency exchange, including a solution for automatic market-making on exchange using third party exchanges. When launched, it will work with Pelecoin, Bitcoin and other digital currency exchanges around the world. "Having the opportunity to test and plan, with early access by real clients, has been very helpful while preparing for the planned 2017 CrypStock launch," adds Mr. Mitchell. Story continues Opening a CrypStock Account New users can sign up online for free and secure their own CrypStock trading account by completing a New Account Application Form at www.crypstock.com . Once registered, users can navigate the beta version of the trading platform to monitor trading prices for various digital currencies, execute sample trades in various currencies, and provide feedback to WRIT Media Group's active development and support team. Upon its completion of external user acceptance testing, the exchange intends to register as a Money Service Business with the United States Department of Treasury and other necessary regulatory agencies in the US and abroad. Once registered, Pelecoin may be traded in several states in the US as a digital currency. Pelecoin is also finalizing the technical and regulatory ability to trade in Asia and other continents. Qualifying account holders will then be able to trade Pelecoin, other digital currencies, and derivatives on the Company's proprietary CrypStock trading platform. About WRIT Media Group WRIT Media Group, Inc. ( OTCQB : WRIT ) is a diversified media and software company whose operations include content production and distribution; video game distribution via mobile platforms; and digital currency software development, including trading platforms and Blockchain solutions. The Company's portfolio of wholly owned businesses includes: Front Row Networks, a content creation company which produces, acquires and distributes live event programming for worldwide digital broadcast into digitally enabled movie theaters and online streaming; Amiga Games, a software company resurrecting the Amiga brand by publishing retro video games on smartphones, tablets and consoles; Retro Infinity, Inc., a video game distribution portal which publishes video games from Amiga, Atari and other "retro" brands on today's smartphones, tablets and consoles; and Pandora Venture Capital, a software developer with a focus on digital currency technologies, including; a cryptocurrency trading platform, a new generation of cryptocurrency, and Blockchain technology solutions. Cautionary Note Regarding Forward-Looking Statements Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in WRIT Media Group's latest 10-Q filed December 31, 2015. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Pandora Venture Capital Corp., Pelecoin, CrypStock.com and its related trademarks and names are the property of WRIT Media Group, Inc. and are registered and/or used in the U.S. and countries around the world. All rights reserved. All other trademarks belong to their respective owners. || Bitcoin Buying Service Launches with Market-Beating Rates: NEW YORK, NY / ACCESSWIRE / July 13, 2016 / Selling bitcoins has just been made more profitable with the launch of a new website from PowerBTC.com . The recently revamped service offers to buy the crypto currency with one very simple advantage - a guarantee that they will pay a significantly higher price than the exchange rate of the day. The platform charges no transaction fees, making the market-beating offer even more attractive to those with bitcoin assets to trade. PowerBTC.com can guarantee this higher payment as they have established relationships with bulk bitcoin buyers, and need volume to feed their clients' hunger for the digital currency. They aim to make the selling process as simple and transparent as possible, not requiring any lengthy registration process, nor storing any personal information about their customers. Funds are delivered direct within 48 hours of purchase using Paypal, Western Union, or bank transfer, with the promise of complete privacy and anonymity. Tom Clark , CEO of PowerBTC.com, said, "We believe we are the best buyers for your bitcoin assets, whether you're a dedicated miner or a savvy trader. Not only do we offer better-than-market rates, but we deliver your funds in US Dollars direct with no strings attached, no need for registration, and a guarantee of complete privacy." Bitcoin has long been the most high-profile crypto currency, but its technological origins have often made it appear inaccessible to the mainstream investor. Talk of mining and exchanges can be off-putting, but PowerBTC.com aim to simplify the whole process of realizing bitcoin value by offering a no-frills, easy to use way of turning coins into solid cash. The service is not limited to new entrants to the blockchain arena, however, as the ease of converting a digital wallet into conventional currency at market-beating rates will appeal to even the most hardcore of bitcoin miners. The Key PowerBTC.com Features: All bitcoins purchased at significantly above market rates. No commissions or fees charged, just a clear and transparent buying price: what you see is what you get. Simple selling process with no registration or account required. Easy international payment in US Dollars via PayPal, Western Union, or bank transfer. Full anonymity guarantee with no personal details stored, and a safe and secure online platform. SOURCE: PowerBTC LLC || INVESTMENT FOCUS-Index-eligible or not, China's allure dimmed by yuan fears: By Sujata Rao LONDON, June 17 (Reuters) - Just as China's $10 trillion bond and equity markets appear to be on the cusp of joining global indexes, investors who long sought free access to these assets have started to worry that any returns would be hit by a weakening yuan. Many were disappointed by MSCI's decision this week to keep China's mainland listed A-shares off its emerging market indexes on the grounds that Beijing needed to make its markets more easily accessible to foreign investors. But market watchers said the decision, made after months of consultations with investors, at least partly reflected fund managers' unease about allocating more to yuan-denominated assets. Currently, MSCI indexes include only Chinese stocks listed offshore which are freely traded. China's mainland stocks will almost certainly be added to equity indexes in the coming years, if not months, as will the country's $7 trillion government bond market, the world's third-biggest. That should bring more capital inflows, especially as foreign holdings of local shares and bonds currently amount to just $180 billion, JPMorgan calculates. But the timing is tricky. An economy growing at its slowest pace in 25 years, falling exports and potential U.S. interest rate rises are seen portending yuan weakness. Memories are still fresh of last August's devaluation, when the yuan fell 2.7 percent against the dollar in one week. "There is pent-up demand for exposure to China, but we are probably in a period when the world is happy not to hold too much of it," said Kieran Curtis, a bond fund manager at Standard Life Investments. "You get a pretty decent (bond) yield but people will be reluctant to pile in because of expectations of currency depreciation." Recent yuan moves give credence to such fears. Authorities have recently been fixing the official exchange rate at steadily weaker levels, pushing it to five-year lows. That weakness and a surge in outbound investment could also fuel a resumption of last year's huge capital outflows. Story continues The yuan has fallen 8 percent against the dollar since the end of 2013, ceding a quarter of its appreciation since 2005. But against its trading partners' currencies it has fallen 4.3 percent this year, suffering more trade-weighted depreciation than any emerging currency other than the Mexican peso. INDEX INCLUSION Keen to boost the international profile of its markets and currency, Beijing has rushed to make the changes that index providers require, relaxing quota-based investment programmes and clamping down on arbitrary share suspensions. Bond investors were told last month they would be able to remit money more freely, a move seen as potentially enabling entry to major debt indexes and bringing in at least $155 billion, according to JPMorgan estimates. JPMorgan has already put China on a watchlist for its GBI-EM emerging bond index. China's government pays 3 percent on its 10-year bonds, far higher than any other country whose currency is in the International Monetary Fund's SDR basket. But while this is high in the global context, it may seem paltry to emerging debt specialists who earn more than 6 percent on the GBI-EM index on average. "At this juncture I don't think China will attract material interest...it will be the lowest yielding market in the (GBI-EM) index. Plus the tail risk that they could devalue," said Naveen Kunam, portfolio manager at Allianz Global Investors. Indeed, non-deliverable forwards (NDFs), derivatives used by investors to lock in future exchange rates, price the yuan at 6.8 per dollar in a year's time versus the spot rate of 6.6. This is down from January peaks close to 7 but investors planning to buy Chinese assets should use the pullback to add yuan hedges, analysts at Goldman Sachs advise. Hedging erodes returns: Someone holding a six-month NDF, for example, would pay away roughly 1.2 percent of the yield earned. WAIT Many therefore say they will wait. "FX risk is something to take into account because with the yield differential being quite low with the U.S., the FX effect becomes more influential in your investment decision," said PineBridge Investments' portfolio manager Anders Faergeman. Another 5-10 percent yuan depreciation versus the dollar would get him interested in Chinese bonds, Faergeman added. Of course not everyone believes yuan weakening is inevitable. China's exports are competitive enough without a devaluation, analysts at asset manager Matthews Asia say. Sentiment, however, is powerful. Reuters reported this month that investors inside and outside China were employing various strategies to profit from yuan weakness, including buying Bitcoin and shorting Hong Kong stocks correlated to the exchange rate. Shanghai shares have fallen almost 20 percent this year and China funds tracked by EPFR Global have seen around $2.5 billion in outflows. That's part of a broader picture of capital flight from Chinese firms and individuals, with May alone seeing $27 billion flee. Patrick Mange, head of EM strategy at BNP Paribas Investment Partners says big yuan devaluation risks are actually small as China can easily tighten capital controls if needed. "This risk is in the mind of people, it is a longer-term risk which would impact this market." (Additional reporting by Karin Strohecker and Nicola Saminather in Singapore, graphics by Vincent Flasseur and Nigel Stephenson; Editing by Hugh Lawson) || 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.
[Random Sample of Social Media Buzz (last 60 days)]
1 KOBO = 0.00001399 BTC
= 0.0106 USD
= 2.1086 NGN
= 0.1594 ZAR
= 1.0713 KES
#Kobocoin 2016-06-20 08:00 pic.twitter.com/xKq9619Wx8 || Precio actual del Bitcoin es $573.00 via @BicconOrg síguenos y entérate de más #noticias #bitcoin || #BTA Price: Bittrex 0.00001467 BTC YoBit 0.00001500 BTC Bleutrade 0.00001613 BTC #BTAprice 2016-07-12 23:00 pic.twitter.com/5bOXNcvZM7 || #UFOCoin #UFO $ 0.000019 (-1.60 %) 0.00000003 BTC (-0.00 %) || BTCTurk 1615 TL BTCe 545.785 $ CampBx $ BitStamp 558.95 $ Cavirtex $ CEXIO 560.89 $ Bitcoin.de 521.00 € #Bitcoin #btc || 1 #bitcoin 2130.03 TL, 671.001 $, 603.584 €, GBP, 38555.00 RUR, 74088 ¥, CNH, CAD #btc || #Anoncoin/#ANC price now: $ 0.189436, that's 0.00 % change in 1hour. -2.00 % past day, and -2.07 % in the past week! #Bitcoin is $ 631.22 || $675.00 #bitfinex;
$674.96 #OKCoin;
$675.99 #GDAX;
$659.00 #btce;
$675.10 #itBit;
$675.64 #bitstamp;
#bitcoin news: http://bit.ly/1VI6Yse || #CannaCoin #CCN $ 0.010692 (-0.04 %) 0.00001415 BTC (0.00 %) || 1 #bitcoin 1963.09 TL, 615.6 $, 577.454 €, GBP, 38766.00 RUR, 65951 ¥, CNH, CAD #btc
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Trend: up || Prices: 547.47, 566.35, 578.29, 575.04, 587.78, 592.69, 591.05, 587.80, 592.10, 589.12
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-09-26]
BTC Price: 19222.67, BTC RSI: 44.03
Gold Price: 1623.30, Gold RSI: 27.00
Oil Price: 76.71, Oil RSI: 30.29
[Random Sample of News (last 60 days)]
Huobi Group secures license to operate institutional-grade virtual assets trading platform in the British Virgin Islands: London, U.K. --News Direct-- Huobi Group Huobi Group (“Huobi”), one of the world’s leading digital asset service providers, has secured approval from the Financial Services Commission (“FSC”) of the British Virgin Islands (“BVI”), to operate a licensed virtual assets exchange under its subsidiary Brtuomi Worldwide Limited (“BWL”). After all conditions are satisfied, BWL will become the first Digital Asset Trading Platform Operator in the BVI licensed to operate an institutional-grade virtual assets trading platform for both professional and retail investors; this will include licensed financial institutions from all over the world. The trading services to be offered under BWL will include spot (cryptocurrencies such as Bitcoin and Ethereum), derivatives (such as Perpetual and Calendar futures), as well as other innovative products. Huobi Group CFO Lily Zhang said, “This landmark approval makes Huobi the first licensed digital asset exchange for institutional-grade derivative products in the British Virgin Islands. It is a testament to our experience, professional knowledge, and track record in the global cryptocurrency industry.” “We see a huge market opportunity in cryptocurrency derivatives, with perpetual futures accounting for about half of global cryptocurrency trading volumes in 2021. With the growing importance of compliance in the industry, we will strive to meet all regulatory requirements as we expand. Going forward, we will work closely with the British Virgin Islands regulators to develop a suite of licensed trading products and services, and foster the cryptocurrency industry’s growth in the territory,” CFO Zhang concluded. Since the Financial Action Task Force issued the 2019 Public Statement on Virtual Assets and Related Providers, global policymakers have accelerated cryptocurrency-related legislation and regulations. This latest approval by the BVI regulators represents the progress that the British Virgin Islands has made on this front, and indicates their all-around support for virtual assets service providers as a whole. Story continues Huobi Group is committed to integrity, innovation, and cooperation in the crypto industry and has established regulated entities in countries and regions such as Japan and Gibraltar. Huobi Group wishes to cater to institutions and professional investors that are looking for regulated partners and access to virtual assets on a global scale. About Huobi Group Founded in 2013, Huobi Group is one of the world's leading digital asset service providers, with tens of millions of users across five continents and 160 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 support 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 About Brtuomi Worldwide Limited and the BVI Regulatory Sandbox On April 16th, 2021, BWL was approved by the BVI FSC to participate in the BVI Regulatory Sandbox and recorded on the BVI FSC's Register of Sandbox Participants. In September 2022, Brtuomi Worldwide Limited was approved by the Financial Services Commission to operate as a Digital Asset Trading Platform Operator in the British Virgin Islands and received an Investment Business License. Contact Details Huobi PR team +1 401-244-8310 [email protected] Company Website https://www.huobigroup.com/ View source version on newsdirect.com: https://newsdirect.com/news/huobi-group-secures-license-to-operate-institutional-grade-virtual-assets-trading-platform-in-the-british-virgin-islands-643183100 || Soluna Holdings Announces July Site Level Financials: ALBANY, NY, Aug. 18, 2022 (GLOBE NEWSWIRE) -- viaNewMediaWire --Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (“SCI”), a developer of green data centers for cryptocurrency mining and other intensive computing, today announced the release of its July site level financials.
Michael Toporek, CEO of Soluna Holdings, stated, “Despite Bitcoin remaining around $20,000 and challenging power markets, Soluna has been able to maintain healthy margins and increase computing power. As a result of the increase in activity from renewable energy generators seeking computing as the most effective solution to their curtailment problems, we continue to believe investing through the cycle is the best opportunity to deliver value to shareholders.”
Key Summary Highlights:
Increased BTC Production Despite Volatile Market
• BTC Equivalent Mined increased by 12% despite average BTC prices decreasing by 12% from June to July.
• Average Hashrate deployed increased by 9% with peak hashrate remaining above 1EH/s.
Cash Contribution Margins Remain Healthy
• 27% Cash contribution prop mining margins slightly offset by weaker hosting margins
• 19% Consolidated cash contribution margins overall if hosting is included despite low BTC environment
• Margins impacted by exceptional events leading to fuel cost increases at Sophie and Marie
10MW Hosting Agreement at Marie Expires End of September
• Assessing economics of renewal or conversion to prop mining
• Anticipated hosting margins with new contract expected to increase
Revenue & Contribution Margin Summary:A presentation and corresponding video is available on the Company’s website at:https://www.solunacomputing.com/investors/updates/july2022flash/
About Soluna Holdings, Inc (SLNH)Soluna Holdings, Inc. is the leading developer of green data centers that convert excess renewable energy into global computing resources. Soluna builds modular, scalable data centers for computing intensive, batchable applications such as cryptocurrency mining, AI and machine learning. Soluna provides a cost-effective alternative to battery storage or transmission lines. Soluna uses technology and intentional design to solve complex, real-world challenges. Up to 30% of the power of renewable energy projects can go to waste. Soluna’s data centers enable clean electricity asset owners to ‘Sell. Every. Megawatt.’
For more information about Soluna, please visitwww.solunacomputing.comor follow us on LinkedIn atlinkedin.com/solunaholdingsand Twitter@SolunaHoldings.
Contact InformationSam SovaVP, MarketingSoluna [email protected]+414 699 3667
MZ ContactBrian M. Prenoveau, CFAMZ Group – MZ North [email protected]+561 489 5315 || Frontnode Announces Future Support for Additional Cryptocurrencies (Bitcoin, Ethereum, Cardano, XRP, Dogecoin): Tallinn, Estonia - (NewMediaWire) - August 9, 2022 -Frontnode, the Estonian-licensed crypto exchange focusing on Bitcoin only, announced today the future listing of prominent crypto assets Ethereum, Litecoin, XRP and Dogecoin.
In a statement, Sirje Soo, the company's CEO says: "Up until now, our focus has been to provide the most accessible way for users to invest in and use Bitcoin. Adding more currencies was always a part of our long-term road map, and we are glad to say that we have finally reached the point where we will be able to provide more currencies. Our current expectations are that we will add the new currencies late in Q3 2022."
The list of new listed coins is:
Ethereum
Litecoin
XRP
Dogecoin
By continuing its relentless focus on easy, yet compliant KYC procedures, as well as AML, Frontnode aims to give the casual investor and everyday adopter of crypto the opportunity to try more forms of crypto without more compliance work than absolutely necessary.
The addition of new currencies marks a major step towards Frontnode becoming a safe haven for users trying to learn and explore, without risking so-called "rug pulls" and other external risks unrelated to the crypto asset itself.
Soo continues: "Our goal has always been to promote the adoption of crypto currencies. We want to make what sometimes can be seen as inherently complicated and hard to understand, accessible and low risk. Now that these currencies have reached a critical mass in terms of market capitalization, we feel that most of the risk in a longer perspective has largely disappeared. That is why we are comfortable to add these now and we look forward to seeing the response from our customers."
Frontnode.comis owned and operated by LBXO Holding OU, company number 14746140, licensed by the Estonian FIU under license FTV000004. To learn more about the exchange, visitFrontnode.com.
Media Contact
Company: Frontnode
Contact: Media Team
Email: [email protected]
Website:https://frontnode.com/
SOURCE:Frontnode
View the original release onwww.newmediawire.com || Alex Jones trial - live: Jury shown videos of Infowars host mocking ‘crisis actor’ Sandy Hook parents: The second defamation trial of conspiracy theorist Alex Jones is underway in Connecticut as he faces the families of the victims of the Sandy Hook Elementary School shooting that he claimed was a hoax in broadcasts to his millions of viewers. On Wednesday the court heard from an appointed representative of Jones’s media company to gain insight into its operations and specifics around the origins of the various theories he espoused. The jury was shown how Jones’s audience grew exponentially following the tragedy as did company revenues. Earlier, the sister of one of the teachers killed and an FBI agent described what it was like to live in fear for their lives amid accusations from Jones’ fans that they were crisis actors. Jones was last month ordered o pay nearly $50m to the parents of one of the slain children by a Texas jury following a similar lawsuit. Now, it is a six-member jury and several alternates who will ultimately decide how much he should pay relatives of eight victims and an FBI agent who responded to the scene of the 2012 massacre. Key Points Sandy Hook families warn 'bully' Alex Jones will 'never stop' unless he's held responsible Alex Jones and Infowars sanctioned just minutes into second damages trial Why Alex Jones is headed to trial again Alex Jones claims he sold more copies of his new book than ‘any Harry Potter’ Infowars company rep testifies audience increased exponentially after Sandy Hook 17:38 , Oliver O'Connell Back on Google Analytics, Mr Mattei shows data that shows Infowars pageviews went from approximately 500,000 impressions to 2 million after the publication of a bogus Sandy Hook story in 2014. After running bogus Sandy Hook stories or posting videos, Infowars saw a 33.4 per cent increase in new visitors to the website, Mr Mattei shows the jury. Despite all the evidence presented to the court, including clearly labelled emails and attachments saying so, Ms Paz refuses to concede whether she knows if Infowars uses Google Analytics. Story continues Watch: Jury shown video of Jones mocking Sandy Hook parents 17:35 , Oliver O'Connell "It just is the fakest thing since the $3 bill": In an Infowars clip, #AlexJones mocked #SandyHook parents and their cries. pic.twitter.com/gEVsynM1L8 — Law&Crime Network (@LawCrimeNetwork) September 15, 2022 17:26 , Oliver O'Connell The jury was shown video clips in which Jones asks his viewers to support Halbig financially . Later an email is produced from Halbig to an Infowars employee thanking him because he is receiving so much financial support thanks to Jones’ efforts. “Please thank Alex again for his great work in helping our cause in funding our legal bill. We are receiving donations because of him.” Mr Mattei asks how much money Halbig received. Ms Paz says she doesn’t know. 17:21 , Oliver O'Connell Another Infowars video is played in which Jones again mock cries as he claims the Sandy Hook parents did. Jones also claims that the children were actors as well as their parents. “100 kids and no one can find them,” he falsely contends in the video. “You have pictures of children who died who are still alive.” Mr Mattei says: “Can you use your powers of deduction to tell that InfoWars is saying in this video that the children are actors?” He then names the children asking Ms Paz if each is an actor. Parents in the public gallery can be seen wiping their eyes. Ms Paz responds no to each name. He names the children, asking the corporate rep of each: is Emilie Parker an actor? Is Daniel Barden an actor? Daniel's dad, Mark Barden, is wiping his eyes. — Elizabeth Williamson (@NYTLiz) September 15, 2022 17:11 , Oliver O'Connell A video clip is shown of Halbig and Jones in which the former claims that Sandy Hook Elementary was a “toxic waste dump” and had been closed for years. They both claim that it was a set and not a real school. Mr Mattei notes that the school principal Dawn Hochsprung would regularly post pictures of events at the school on her Twitter account, proving this conspiracy wrong. 17:06 , Oliver O'Connell Moving on from the questioning about the use of Google Analytics, Mr Mattei goes on to some of the wild claims about Sandy Hook made by Infowars. Infowars’ Adan Salazar wrote a false story claiming an FBI report didn’t put in any shooting murders for the year 2012 in the area. In reality, all Salazar had to do was scroll down to the next table to see that this was incorrect. Mattei: “He darn well knew what the statistics said and he published it anyway.” Jones ran the story and claimed on his show that the FBI report showed: “No one died in 2012 in Sandy Hook. It shows no homicides in that town. That story by Adan Salazar is online on Infowars.” The story was titled: “FBI Says No One Killed At Sandy Hook”. Alex Jones took the bogus story and ran with it, claimed on Infowars that the FBI report showed "No one died in 2012 in Sandy Hook. It shows no homicides in that town. That story by Adan Salazar is online on Infowars." The story was titled "FBI Says No One Killed At Sandy Hook" — Sebastian Murdock (@SebastianMurdoc) September 15, 2022 Court resumes after morning recess 16:54 , Oliver O'Connell Ms Paz is shown all of the emails from Infowars staff containing Google Analytics data and charts. Challenged again about whether the company uses Google Analytics data, Ms Paz — who is speaking on behalf of Free Speech Systems/Infowars — says again she can only convey what was said to her. An exasperated Mr Mattei sighs: “OK...” Pushed again, Ms Paz says: “I do understand that these emails show that they have talked about Google Analytics in the past.” Mr Mattei continues: “Free Speech Systems can’t say why its business director sent Google Analytics to a guy who wants to send them advertising money?” Why Google Analytics is relevant to the case against Jones 16:45 , Oliver O'Connell Just a reminder that Alex Jones and Infowars were sanctioned just minutes into the trial, with Judge Barbara Bellis issuing a ruling that Mr Jones and Infowars will not be allowed to argue that they didn’t make considerable profits from covering the shooting because they didn’t hand over Google Analytics data concerning the traffic of Infowars to the plaintiffs. Before the jury entered the courtroom on Tuesday, plaintiffs’ lawyer Alinor Sterling requested that the judge approve sanctions against Mr Jones and Infowars, arguing that they found a spreadsheet of Google Analytics listing traffic until June of 2019 despite the defendants’ claiming that no such document existed. Jones’ lawyers argued that the data was irrelevant, claiming that there wasn’t any evidence showing that Infowars had allowed the numbers to impact its coverage on the air. The plaintiffs’ argue that increased traffic and revenue from Sandy Hook coverage led Infowars to keep propagating the conspiracy over years. Judge Bellis said that Infowars showed a “stunningly cavalier attitude with respect to their discovery obligations”. Infowars had “consistently engaged in dilatory and obstructive discovery practices,” the judge said, adding that this partly prompted the earlier default judgment against Jones. Gustaf Kilander has more details: Alex Jones sanctioned minutes into damages trial over Sandy Hook claims 16:30 , Oliver O'Connell Court is on a 15-minute recess. 16:22 , Oliver O'Connell Questioning returns to whether Infowars uses Google Analytics to track traffic and and demographics across Free Speech Systems’ websites. Ms Paz is shown and asked to confirm the veracity of an email exchange between a potential online advertiser — a loan company — and an Infowars advertising staffer. In the emails, the potential customer is shown charts and data, all taken from... Google Analytics. Ms Paz is asked if it is still her testimony that Infowars does not use Google Analytics. She responds that she does not know what they do or don’t do with it. A second set of internal company emails is shown relating to the website’s store. They also include data pulled from Google Analytics. Ms Paz is again asked if she would like to revise her testimony that InfoWars does not use Google Analytics. She says she can only convey what the company conveyed to her. 16:07 , Oliver O'Connell A clip is shown of Mr Halbig on Infowars in 2013. “I can tell you children did not die, teachers did not die on December 14, 2012. It just could not have happened.” Another clip shows Jones mocking the parents of the Sandy Hook victims and pretending to cry, also accusing them of laughing and then crying. “This is the fakest thing since the three dollar bill,” Jones says. Mr Mattei asks whether such videos were uploaded to YouTube, Facebook, and Twitter. She affirms this was the case. Company rep: Bitcoin donations to Infowars go to Alex Jones 16:01 , Oliver O'Connell On day two day of the second Sandy Hook defamation trial against conspiracy theorist Alex Jones , a corporate representative for his company testified that cryptocurrency donations solicited during his show go directly to Mr Jones personally. Bitcoin donations to Infowars go to Alex Jones, company rep testifies 15:56 , Oliver O'Connell The court is shown a video of Jones talking about Mr Halbig going to Newtown in 2014 to interrupt a school board meeting and being stopped from entering a public building. On the same trip to Connecticut, he also went to the firehouse to confront firefighters. Sandy Hook school board employees actually had to call the cops on Halbig; on the same trip he actually went to the firehouse and confronted firefighters. Halbig pestered this community for years on end. — Anna Merlan (@annamerlan) September 15, 2022 15:52 , Oliver O'Connell Questioning moves on to an Infowars conspiracy regarding an email from New York Mayor Michael Bloomberg that they claimed was accidentally sent out two days before the Sandy Hook shooting rather than after it. Yesterday Ms Paz said she had seen the email but now says she did not. The email does not exist. Mayor Bloomberg never sent out any kind of email about gun control before Sandy Hook but had previously been very vocal about the Aurora shooting earlier in 2012 and is a well-known gun control advocate. 15:44 , Oliver O'Connell Ms Paz is asked about Infowars contributor and conspiracist Wolfgang Halbig, who was discussed during yesterday’s testimony. Mr Mattei notes: “The only check anyone at Infowars did into Mr Halbig’s background was to go to the website he himself created, right?” Paz: “I believe that is accurate, yes” The purpose of this testimony appears to be to establish that without Jones, Mr Halbig would not have had such a platform to broadcast lies about Sandy Hook — which he continues to do to this day. Infowars got another email warning about Halbig and his bogus "credentials," including that he'd investigated the Columbine school shooting. Infowars employee Adan Salazar continued to ignore it. Paz: Salazar “didn’t indicate that he ever followed up on that email” — Sebastian Murdock (@SebastianMurdoc) September 15, 2022 Warning emails sent to Infowars telling them to check Halbig’s credentials were ignored or not followed up on. Mr Halbig visited Newtown, the site of the Sandy Hook massacre, on multiple occasions, even with a camera crew at one point. He claimed to be in search of the victims who he said were still alive. A school security officer called the police, and Halbig, fearless investigator, fled. — Elizabeth Williamson (@NYTLiz) September 15, 2022 Day 2 recap: Alex Jones knew hoax coverage translated into sales, rep says 15:25 , Oliver O'Connell A lawyer who works for Alex Jones’ Infowars testified from the witness stand on Wednesday that the conspiracy theorist who claimed the 2012 Sandy Hook mass shooting was a hoax knew that his words could drive followers to his empire. Jones "knows that what he talks about translates to sales" of his conspiracy-oriented products, Brittany Paz told jurors at the second day of a civil trial to determine how much Jones owes relatives of the shooting’s victims. Jurors will decide how much Jones and Infowars’ parent Free Speech Systems LLC must pay 13 relatives and an FBI agent who responded to the 14 December 2012 massacre at the Sandy Hook Elementary School in Newtown, Connecticut. Twenty students and six staff members were killed after Adam Lanza opened fire, before later killing himself. Jones later spread false claims that the government staged the Sandy Hook shooting with crisis actors as a pretext for seizing guns, and that the families faked their children’s deaths. He has since acknowledged that the shooting occurred, but the families say he should pay for their pain and the harassment they suffered from his followers. The trial began on Tuesday and is expected to last five weeks. With Ms Paz on the witness stand, the plaintiffs’ lawyer Christopher Mattei tried to show jurors that traffic to Infowars’ website skyrocketed after Jones dismissed the shooting as bogus. Jurors were told that views of Infowars articles soared by nearly half to 427 million in 2013 from 286 million, and that other metrics shot up between 2014 and 2016, when Jones was hosting Sandy Hook deniers on his show. Paz testified that Infowars shaped its programming around topics that drove the most buyers to its products, which include storable food, fluoride-free toothpaste, and supplements. Jones has not yet attended the trial in Waterbury, Connecticut, about 20 miles from where the shooting occurred, but his lawyer has said he will testify. Reuters Court resumes for day three of trial 15:19 , Oliver O'Connell The jury is brought in following a few procedural matters between Judge Barbara Bellis and the attorneys for both sides. Infowars/Free Speech Systems corporate representative Brittany Paz is back on the witness stand being questioned by plaintiffs’ attorney Chris Mattei. They begin by recapping the topics covered during her day-long testimony on Wednesday. Watch: Infowars company rep testifies audience increased exponentially after Sandy Hook 14:45 , Oliver O'Connell Free Speech Systems corporate representative Brittany Paz testified that since 2012, the growth of the audience for Infowars has, in Alex Jones’ words, been exponential, leading to billions of social media impressions. This coincides with when Jones began to air his Sandy Hook massacre hoax conspiracy theories — which began the day of the shooting, 14 December 2012. Free Speech Systems corporate representative Brittany Paz testified that #AlexJones ' audience increased exponentially following the #SandyHook incident in 2012. pic.twitter.com/EjvJzzw6L3 — Law&Crime Network (@LawCrimeNetwork) September 14, 2022 Alex Jones claims he sold more copies of his new book than ‘any Harry Potter’ 14:15 , Oliver O'Connell Far-right media personality Alex Jones has claimed in an interview that his latest book has outsold all of the books in the Harry Potter franchise. Jones, who is currently the subject of a second defamation trial over his Sandy Hook hoax allegations, made the claims about The Great Reset on the programme Louder with Crowder. He provided no evidence to back his claim but asserted that runaway sales of the book are being suppressed by a publishing industry conspiracy. Abe Asher reports. Alex Jones claims his new book has sold more copies than ‘any Harry Potter’ Watch: Alex Jones rep asked about his comparison of Sandy Hook and Reichstag fire 13:45 , Oliver O'Connell Plaintiffs' attorney Chris Mattei pressed #AlexJones ' corporate representative about Jones' statements saying the American government was responsible for staging #SandyHook just as the Nazis were responsible for the Reichstag fire. pic.twitter.com/g9cq5hxcth — Law&Crime Network (@LawCrimeNetwork) September 14, 2022 Alex Jones Texas trial juror breaks silence on tense deliberations 13:15 , Oliver O'Connell Jurors in Alex Jones ‘ defamation trial reportedly sparred over how much money the conspiracy theorist television host should pay to the families of Sandy Hook victims . According to one juror , who spoke with Reuters , sums discussed for Jones’ penalty ranged between $500,000 to $200m. “We saw those numbers on the board and someone said, ‘Well, I guess we’re never leaving this room,’” Sharon, the juror who spoke with Reuters , said. Alex Jones juror breaks silence on tense deliberations in Sandy Hook case Infowars representative admits ‘there were false statements’ on Sandy Hook 12:00 , Oliver O'Connell A lawyer for conspiracy theorist Alex Jones ‘ Infowars empire acknowledged on the witness stand Wednesday that the show and website spread falsehoods about the Sandy Hook school shooting. “I don’t think that we disagree that there were false statements made,” Brittany Paz testified at a civil trial involving Jones’ claims that the nation’s deadliest school shooting was a hoax concocted as a pretext to tighten gun regulations. Infowars lawyer: 'There were false statements' on Sandy Hook Sandy Hook families: ‘Bully’ Alex Jones will ‘never stop’ unless held responsible 10:30 , Oliver O'Connell A lawyer representing eight families who lost family members in the 2012 Sandy Hook massacre tore into Infowars founder Alex Jones as the second damages trial against him began in Connecticut . “Unless you stand up to bullies, a bully will never stop,” Chris Mattei said during opening statements on Tuesday, according to Law & Crime. Gustaf Kilander reports. Sandy Hook families blast ‘bully’ Alex Jones as damages trial begins Sister of Sandy Hook teacher says family ‘feared for lives’ 09:00 , Oliver O'Connell The sister of a teacher who died during the Sandy Hook massacre broke down in tears as she testified that her family “feared for our lives” after Alex Jones branded the shooting a hoax. Carlee Soto-Parisi told the court that her family was threatened and harassed as Jones made wild allegations about false-flag operations and paid crisis actors in the wake of the 2012 elementary school shooting. Ms Soto-Parisi’s 27-year-old sister, Vicki Soto, was murdered by gunman Adam Lanza when he attacked the school, killing 26 children and teachers. Graeme Massie reports on the first day in court. Sister of Sandy Hook teacher says family ‘feared for lives’ after Alex Jones claims ICYMI: Alex Jones begs Trump to watch his show after publicly backing DeSantis 07:30 , Oliver O'Connell Conspiracy theorist Alex Jones created a minor media storm this week when he announced that he would no longer “pigheadedly” support Donald Trump . Instead, he announced on his Infowars show that he would now be supporting Florida Governor Ron DeSantis saying he was “someone who is better than Trump”. However, since then Mr Jones has personally reached out with an “emergency message” begging the former president to watch his whole show after his newfound love for Governor DeSantis made headlines. Alex Jones begs Trump to watch video for context after saying he now backs DeSantis ICYMI: Jones abandons Trump for Ron DeSantis 06:00 , Oliver O'Connell Infowars founder Alex Jones has withdrawn his support for Donald Trump and thrown his weight behind Florida governor Ron DeSantis . In an Infowars broadcast, Mr Jones announced he would no longer “pigheadedly” support Mr Trump. “We have someone who is better than Trump. Way better than Trump,” Mr Jones said, adding that the Florida governor is the person Mr Trump “should be like”. Sravasti Dasgupta reports: Alex Jones abandons Trump for Ron DeSantis: ‘We have someone way better’ ICYMI: Alex Jones sarcastically claims he killed Sandy Hook victims in unhinged rant 04:30 , Oliver O'Connell Infowars host Alex Jones sarcastically claimed he killed Sandy Hook victims in an unhinged rant about the $50m defamation verdict that a Texas jury made against him. Jones made the inflammatory comments, his first since losing a defamation case brought by the family of one of the school children murdered in the mass shooting, during an interview with YouTube journalist Andrew Callaghan. Graeme Massie reports. Alex Jones sarcastically claims he killed Sandy Hook victims in unhinged rant Judge calls Jones’ lawyers’ behaviour ‘quite shocking' 03:00 , Oliver O'Connell The judge in Connecticut in charge of the upcoming defamation trial of conspiracy theorist Alex Jones has scorned his lawyers, outlining a number of ethics violations that she believes the pair may have committed. The attorneys are facing allegations that they revealed confidential medical and psychiatric information of the plaintiffs associated with the 2012 Sandy Elementary school shooting, in which 26 people were killed. Gustaf Kilander reports. Judge in Sandy Hook case calls Alex Jones lawyers’ behaviour ‘quite shocking’ ICYMI: Alex Jones lawyer pleads the Fifth before trial 02:00 , Oliver O'Connell A lawyer for c onspiracy theorist Alex Jones invoked his right against self-incrimination Thursday during a civil court hearing in Connecticut over the possible improper disclosure of confidential medical records of relatives of some of the Sandy Hook Elementary School shooting victims. New Haven-based attorney Norman Pattis refused to answer questions citing his Fifth Amendment rights during a hearing on whether he should be disciplined for giving the confidential records to unauthorized persons — other lawyers for Jones in Texas . Alex Jones lawyer takes the Fifth during Sandy Hook hearing Watch: Alex Jones lawyer and judge clash again 01:00 , Oliver O'Connell WATCH: More fireworks between #AlexJones attorney and the judge. Pattis: Objection. Judge: I'm not going to entertain your objection unless you're on your feet. Patti: Ok, on my feet. Objection. Judge: Sidebar! IN SIDEBAR: Judge: "I would never disrespect you like that. pic.twitter.com/lRGGqJt0Gh — Cathy Russon (@cathyrusson) September 14, 2022 Jones is accused of hiding millions of dollars to avoid paying Sandy Hook families Thursday 15 September 2022 00:15 , Oliver O'Connell Alex Jones has been accused of hiding millions of dollars in an attempt to avoid paying damages to the families of victims of the Sandy Hook massacre who were terrorised for years because of his lies. The families of nine victims killed in the 2012 mass shooting filed new court documents on Thursday alleging that the far-right conspiracy theorist “systematically transferred millions of dollars” to himself, his relatives and companies that he owns – all the while claiming he was bankrupt and unable to pay his debts. Rachel Sharp has the story. Alex Jones accused of hiding millions of dollars to avoid paying Sandy Hook families Watch: Infowars rep pressed on comments comparing Sandy Hook to Reichstag Wednesday 14 September 2022 23:30 , Oliver O'Connell Plaintiffs' attorney Chris Mattei pressed #AlexJones ' corporate representative about Jones' statements saying the American government was responsible for staging #SandyHook just as the Nazis were responsible for the Reichstag fire. pic.twitter.com/g9cq5hxcth — Law&Crime Network (@LawCrimeNetwork) September 14, 2022 Alex Jones and Infowars sanctioned just minutes into second damages trial Wednesday 14 September 2022 23:00 , Oliver O'Connell Alex Jones and Infowars were sanctioned just minutes into the second damages trial over his false claims about the Sandy Hook school shooting. The trial started on Tuesday in Connecticut , not far from where the shooting took place almost a decade ago on 14 December 2012. Gustaf Kilander reports on day one of the new trial. Alex Jones sanctioned minutes into damages trial over Sandy Hook claims Why is Alex Jones on trial again over his Sandy Hook conspiracies? Wednesday 14 September 2022 22:20 , Oliver O'Connell Conspiracy theorist and conservative radio host Alex Jones is back on trial just a month after a judge ordered he pay nearly $50m for damages caused by his insistence that the Sandy Hook shooting was a hoax. Here’s why: Why Alex Jones is headed to trial again over his Sandy Hook conspiracy theories Watch what you do on the witness stand ⌚️ Wednesday 14 September 2022 21:50 , Oliver O'Connell Witness Brittany Paz got into a little bit of trouble with Judge Barbara Bellis today for repeatedly looking at her Apple watch. She was instructed to put it in airplane mode. WATCH: Now, Brittany Paz looked at her watch, the judge asked if she needed to know the time, she said yes. Judge told her to ask if she wants to know the time and to put her watch in airplane mode. 2/2 #AlexJones pic.twitter.com/fxerDCiChL — Cathy Russon (@cathyrusson) September 14, 2022 Court adjourns for the day Wednesday 14 September 2022 21:29 , Oliver O'Connell Voicing a desire to let the jury out early today, Judge Barbara Bellis adjourns the court for the day. Proceedings will begin again tomorrow morning at 10am and Ms Paz will return to the witness stand. Wednesday 14 September 2022 21:06 , Oliver O'Connell The court is hearing how Jones gave a spotlight to both Dan Bidondi — who went to Newtown in 2014 and harassed school officials and has previously railed about 9/11 being an inside job — and Wolfgang Halbig, who repeatedly came onto Infowars to spread lies about Sandy Hook. Mattei plays Infowars vid where Wolfgang Halbig claims the shooting was fake because there weren't any "trauma helicopters" to go save the kids. That's because they didn't need a fucking helicopter. It was faster to transport people using a car/ambulance to the nearby hospital. — Sebastian Murdock (@SebastianMurdoc) September 14, 2022 Wednesday 14 September 2022 20:49 , Oliver O'Connell Mr Mattei has Ms Paz read out an email from Sandy Hook parent Lenny Pozner to Infowars begging Jones to stop calling him and other grieving parents crisis actors. Mr Pozner, whose 6-year-old son Noah died in the shooting, wrote: “I’m very disappointed at how many ppl are directing more anger at families that lost their children in Newtown accusing us of being actors.” “Haven’t we had our share of pain and suffering? I used to enjoy listening to your shows prior to 12-14-12. Now I feel that your type of show created these hateful people and need to be reeled in!” In response, Paul Watson of Infowars wrote: “Sir, we have not promoted the actors thing. In fact we have actively distanced ourselves from it.” Asked if that was true, Ms Paz replied that there were still people at Infowars still running the crisis actors story. Wednesday 14 September 2022 20:39 , Oliver O'Connell After a ten-minute break, Mr Mattei shows the court a 2013 email from an Infowars employee to James Tracy, a Florida professor who said the shooting was fake. The email says that Jones wants him to talk about “crisis actors”, and they ran the interview in January 2013. Mr Tracy was invited on the show to repeat his lies. As a result, he was later fired from his job. Wednesday 14 September 2022 20:09 , Oliver O'Connell Further conspiracies include speculation about the presence of a second shooter at Sandy Hook. Ms Paz concedes that Infowars now understands that was not the case. A movie released years before the school shooting tragedy called The Sandy Hook Lingerie Party Massacre is brought up and emails from Adan Salazar of Infowars to a movie reviewer are shown to the court. Mr Salazar said in the email there was a “vicious rumor” that the movie showed planning of the attack on the school years later. “At first we thought this was surely ridiculous, however, we going to point it out anyway and would like to give you the opportunity to comment.” “You are seriously ill to send me something like that,” the email response read. “Don’t contact me anymore I will report you for harassment you bunch of weirdos.” The email was sent one week after the shooting. Wednesday 14 September 2022 20:02 , Oliver O'Connell Mr Mattei is taking the court on a tour of the conspiracies publicised by Jones on his show in his questioning of Ms Paz. He brings up a video of Jones saying the Illuminati putting a reference to Sandy Hook in the movie The Dark Knight Rises before the shooting ever happened. Later he references a headline five days after the shooting. “Father Of Sandy Hook Victims Asks ‘Read The Card?’ Seconds Before Tear-jerking Press Conference” — It refers to Robbie Parker, who gave a press conference discussing his daughter Emilie, who was killed in the shooting. Jones took a clip of Mr Parker nervously laughing as proof that he was a crisis actor. Mr Parker is in the courtroom and is asked to stand up so Ms Paz can see him. Paz: I am aware there was some harassment of the families … by people in the general public and I’m sure people who have watched the Alex Jones show too, yes. Mattei: That’s where they’d find out that Robbie was an actor, because Mr Jones told them, right? — Sebastian Murdock (@SebastianMurdoc) September 14, 2022 Wednesday 14 September 2022 19:42 , Oliver O'Connell Ms Paz’s role is to research and then represent the company. There are large gaps in her knowledge of what would be presumed to be basic information. She does not know the length of Jones’ show. She has not spoken with him in the past five months. She has not spoken with Jones about what he said on air on the day of the Sandy Hook massacre. Ms Paz says she was not provided with a video of Jones’ show from that day. She is shown the video for the first time in court. Jones often speaks about false flag events (tragedies, shootings, bombings) and references the Reichstag fire in Berlin in 1933 that swept Hitler to power. Ms Paz could not remember what the significance of the fire was. Court resumes Wednesday 14 September 2022 19:14 , Oliver O'Connell Court resumes with Brittany Paz still on the stand. She is the appointed corporate representative of Jones’ company Infowars. Ms Paz is asked to review part of Jones’ deposition given ahead of the Connecticut trial. In it Mr Jones confirms the idea behind promoting the Infowars brand on social media — more and more people will come to the site from social media platforms and hopefully buy his merchandise. 'There were false statements' on Sandy Hook Wednesday 14 September 2022 18:35 , Oliver O'Connell A lawyer for conspiracy theorist Alex Jones ‘ Infowars empire acknowledged on the witness stand Wednesday that the show and website spread falsehoods about the Sandy Hook school shooting. “I don’t think that we disagree that there were false statements made,” Brittany Paz testified at a civil trial involving Jones’ claims that the nation’s deadliest school shooting was a hoax concocted as a pretext to tighten gun regulations. Infowars lawyer: 'There were false statements' on Sandy Hook Wednesday 14 September 2022 17:55 , Oliver O'Connell Mr Mattei plays a video of Jones saying that the Boston bombing, Aurora movie theatre shooting, and the Oklahoma City bombing were faked and also referencing Sandy Hook being staged. There is a history of Jones claiming such tragedies are staged as part of his conspiracy theory that a globalist elite is plotting to enslave and kill people, but if listeners/viewers buy his products (supplements, food buckets etc) they can avoid some of the harms this group supposedly wants to inflict on them. The court breaks for lunch. Wednesday 14 September 2022 17:37 , Oliver O'Connell Ms Paz is asked about her meeting with Jones. In her notes, she wrote that he is “NOT A JOURNALIST”. She tells the court: “He wanted me to understand that’s what his position was.” Mr Mattei points out that he describes himself as a journalist on his show and has previously claimed to have done “deep research” on topics including Sandy Hook. Ms Paz acknowledges that Jones “doesn’t do independent analysis” of what he reads out on air from various sources. He claimed on air that the Sandy Hook massacre “pretty much just didn’t happen”. Hmmm! It seems Alex Jones told this Infowars corporate representative to tell the jury that he is NOT a journalist. But he sells himself as a truth-telling journo on his show, saying about Sandy Hook "I did DEEP RESEARCH and it pretty much didn't happen." — Elizabeth Williamson (@NYTLiz) September 14, 2022 Wednesday 14 September 2022 17:22 , Oliver O'Connell Given the enormous traffic and audience that Infowars enjoyed during the period in which Jones would speak about Sandy Hook, Ms Paz is asked whether she could ascertain from the company’s business model whether he had become a very rich man. Ms Paz says she is not able to talk about his personal finances. Wednesday 14 September 2022 17:15 , Oliver O'Connell Mr Mattei takes Ms Paz through the media kit for Infowars that would be sent to potential advertisers. There is a great deal of data regarding audience size, traffic, ranking against other websites, and the demographics of users. Ms Paz is asked what the source of the data would be. She does not know. Wednesday 14 September 2022 16:59 , Oliver O'Connell Data is shown to the court of Infowars’ Facebook activity in 2016. The numbers are intimidating: - 4.16 billion impressions - 42.9 million post engagements - 29.4 million link clicks Mattei asks Paz if FSS is "aware of any other media personality during this time who was publishing information that Sandy Hook was a hoax" that even comes close to Infowar's audience. Paz doesn't know. — Anna Merlan (@annamerlan) September 14, 2022 Court resumes Wednesday 14 September 2022 16:38 , Oliver O'Connell So far Brittney Paz, who was hired to represent the corporation of Free Speech Systems for court/lawsuit purposes, hasn't provided much info. She really doesn't know much. pic.twitter.com/LEncHIvl4U — Cathy Russon (@cathyrusson) September 14, 2022 Court takes a mid-morning recess Wednesday 14 September 2022 16:21 , Oliver O'Connell The court has taken its mid-morning recess. Just before the break, Mr Mattei asked Ms Paz about Jones asking for sales numbers from the Infowars store every day, which she does not dispute. Mr Mattei asks whether the company and Jones would then try and replicate what he was talking about on air in order to also replicate good sales says. The implication from the plaintiffs’ lawyer is that the Sandy Hook hoax coverage was good for business and so they continued to push the conspiracy. Wednesday 14 September 2022 16:17 , Oliver O'Connell Ms Paz says that Infowars doesn’t use Google Analytics. This was at the centre of yesterday’s sanctions against the defence for not providing Google Analytics data to the plaintiffs’ attorneys claiming they didn’t have it, when they did. Ms Paz is shown the data and says she was told by the company that they did not use Google Analytics on a regular basis, but “they would only pull it at the request for litigation purposes and sporadically the request of various people, but it wasn’t actively used in the marketing strategy”. Wednesday 14 September 2022 16:02 , Oliver O'Connell Mr Mattei questions Ms Paz about how “very, very early on, Jones realised the power of social media to spread his content”. He establishes that Infowars traffic drastically increased after 2012 and that by 2015 the company’s content got 2 billion impressions on social media, 28 million engagements — likes, comments, etc, and 24 million link clicks. Jones was subsequently de-platformed but during this period he was airing content about Sandy Hook being a hoax and featuring commentators like Wolfgang Halbig. Mr Mattei asks Ms Paz about Infowars’ use of “clickbait” that was not true, such as “Connecticut School Massacre Looks Like False Flag, Witnesses Say.” Ms Paz says: “I don’t think we disagree there were false statements made” about Sandy Hook. Wednesday 14 September 2022 15:45 , Oliver O'Connell Questioning of Ms Paz by the plaintiff’s attorney Christopher Mattei appears to be aimed at establishing Alex Jones’ complete control of Free Speech Systems/Infowars. Ms Paz notes that a huge proportion of the business is from supplement sales, though she cannot precisely say how much. She is also unaware that Jones’ father David Jones was being paid $400,000 a year by Infowars, nor how many studios they operate. On the topic of cryptocurrency donations to Infowars Ms Paz agrees that such donations go direct to Jones. She acknowledges that he does not tell his audience this. Witness: Brittany Paz Wednesday 14 September 2022 15:19 , Oliver O'Connell The first witness of the day is Brittany Paz, a corporate representative for Free Speech Systems, the parent company of Infowars. Ms Paz was selected in late January of this year and speaks on behalf of the corporate entity and should not just parrot what Alex Jones says about the company. Prior to her selection for this trial, Ms Paz had no knowledge of the company’s inner workings until she was selected for this role. She is not an Infowars employee. (Law & Crime) Court resumes for Day 2 of the Alex Jones Sandy Hook ‘hoax’ lawsuit Wednesday 14 September 2022 15:13 , Oliver O'Connell After a number of housekeeping issues are addressed the jury is brought in to begin day two of the trial to determine the damages Alex Jones must pay the plaintiffs having been found liable without a trial in 2021 after failing to turn over documents. Sister of Sandy Hook teacher says Alex Jones hoax claims made family ‘fear for lives’ Wednesday 14 September 2022 14:45 , Oliver O'Connell The sister of a teacher who died during the Sandy Hook massacre broke down in tears as she testified that her family “feared for our lives” after Alex Jones branded the shooting a hoax. Carlee Soto-Parisi told the court that her family was threatened and harassed as Jones made wild allegations about false-flag operations and paid crisis actors in the wake of the 2012 elementary school shooting. Ms Soto-Parisi’s 27-year-old sister, Vicki Soto, was murdered by gunman Adam Lanza when he attacked the school, killing 26 children and teachers. Graeme Massie reports on some of yesterday’s moving testimony. Sister of Sandy Hook teacher says family ‘feared for lives’ after Alex Jones claims Sandy Hook families: ‘Bully’ Alex Jones will ‘never stop’ unless held responsible Wednesday 14 September 2022 14:15 , Oliver O'Connell A lawyer representing eight families who lost family members in the 2012 Sandy Hook massacre tore into Infowars founder Alex Jones as the second damages trial against him began in Connecticut . “Unless you stand up to bullies, a bully will never stop,” Chris Mattei said during opening statements on Tuesday, according to Law & Crime. Norm Pattis, a lawyer for Mr Jones, told the jury that their task is not to stop the Infowars host. Gustaf Kilander reports on day one of the conspiracy theorist’s second defamation trial. Sandy Hook families blast ‘bully’ Alex Jones as damages trial begins How did the jury deliberations go in Alex Jones’ first defamation case? Wednesday 14 September 2022 13:30 , Oliver O'Connell Jurors in Alex Jones ‘ defamation trial reportedly sparred over how much money the conspiracy theorist television host should pay to the families of Sandy Hook victims . According to one juror , who spoke with Reuters , sums discussed for Jones’ penalty ranged between $500,000 to $200m. “We saw those numbers on the board and someone said, ‘Well, I guess we’re never leaving this room,’” Sharon, the juror who spoke with Reuters , said. Graig Graziosi reports. Alex Jones juror breaks silence on tense deliberations in Sandy Hook case Alex Jones issues ‘emergency message’ begging Trump to watch his show Wednesday 14 September 2022 12:45 , Oliver O'Connell Conspiracy theorist Alex Jones created a minor media storm this week when he announced that he would no longer “pigheadedly” support Donald Trump . Instead, he announced on his Infowars show that he would now be supporting Florida Governor Ron DeSantis saying he was “someone who is better than Trump”. However, since then Mr Jones has personally reached out with an “emergency message” begging the former president to watch his whole show after his newfound love for Governor DeSantis made headlines. Alex Jones begs Trump to watch video for context after saying he now backs DeSantis Alex Jones accused of hiding millions to avoid Sandy Hook defamation payouts Wednesday 14 September 2022 11:45 , Oliver O'Connell Alex Jones has been accused of hiding millions of dollars in an attempt to avoid paying damages to the families of victims of the Sandy Hook massacre who were terrorised for years because of his lies. The families of nine victims killed in the 2012 mass shooting filed new court documents on Thursday alleging that the far-right conspiracy theorist “systematically transferred millions of dollars” to himself, his relatives and companies that he owns – all the while claiming he was bankrupt and unable to pay his debts. Rachel Sharp has the details. Alex Jones accused of hiding millions of dollars to avoid paying Sandy Hook families Alex Jones lawyer pleads the Fifth during Sandy Hook hearing Wednesday 14 September 2022 10:45 , Oliver O'Connell A lawyer for conspiracy theorist Alex Jones invoked his right against self-incrimination on Thursday during a civil court hearing in Connecticut over the possible improper disclosure of confidential medical records of relatives of some of the Sandy Hook Elementary School shooting victims. Read more: Alex Jones lawyer takes the Fifth during Sandy Hook hearing Alex Jones claims ‘Deep State’ will stage mass shootings to steal midterms Wednesday 14 September 2022 09:45 , Oliver O'Connell Conspiracy theorist Alex Jones has absurdly warned that leftist “Deep State” globalists are plotting to stage false flag violent events to win the midterm elections for Democrats - just weeks after he publicly admitted to making false claims about the Sandy Hook massacre being a hoax. Speaking on his Infowars show, Mr Jones asserted that the “Deep State” would blame staged violence on far-right groups in an effort to take over the country in the run-up to the midterm elections. Alex Jones absurdly claims ‘Deep State’ will stage mass shootings to steal midterms Watch: Conspiracy theorists claimed FBI agent was fake Wednesday 14 September 2022 08:45 , Oliver O'Connell Plaintiff Bill Aldenberg said that he first became a "target" in the spring or summer of 2015 after people claimed that he was not an FBI agent. pic.twitter.com/WQUAhdBMZE — Law&Crime Network (@LawCrimeNetwork) September 13, 2022 Alex Jones sarcastically claims he killed Sandy Hook victims Wednesday 14 September 2022 06:45 , Oliver O'Connell Infowars host Alex Jones sarcastically claimed he killed Sandy Hook victims in an unhinged rant about the $50m defamation verdict that a Texas jury made against him. Jones made the inflammatory comments, his first since losing a defamation case brought by the family of one of the school children murdered in the mass shooting, during an interview with YouTube journalist Andrew Callaghan. Graeme Massie reports. Alex Jones sarcastically claims he killed Sandy Hook victims in unhinged rant Watch: Heated exchange between judge and counsel Wednesday 14 September 2022 04:45 , Oliver O'Connell Judge Barbara Bellis and #AlexJones ' lawyer got into a heated exchange after #NormPattis brought up #HillaryClinton 's mention of Jones and #SandyHook during her 2016 presidential campaign. pic.twitter.com/a0KY5ziSuR — Law&Crime Network (@LawCrimeNetwork) September 13, 2022 Sandy Hook families: ‘Bully’ Alex Jones will ‘never stop’ unless held responsible Wednesday 14 September 2022 03:45 , Oliver O'Connell A lawyer representing eight families who lost family members in the 2012 Sandy Hook massacre tore into Infowars founder Alex Jones as the second damages trial against him began in Connecticut . “Unless you stand up to bullies, a bully will never stop,” Chris Mattei said during opening statements on Tuesday, according to Law & Crime. Gustaf Kilander reports. Sandy Hook families blast ‘bully’ Alex Jones as damages trial begins Watch: FBI agent details threats received after Sandy Hook shooting Wednesday 14 September 2022 02:45 , Oliver O'Connell Ex-FBI agent William Aldenberg detailed the death threats that they received after the #SandyHook shooting. "People calling all kinds of numbers in Newtown saying that this is #AdamLanza . I'm going to come and kill you all," Aldenberg said. pic.twitter.com/zKunfNQKWl — Law&Crime Network (@LawCrimeNetwork) September 13, 2022 Alex Jones and Infowars sanctioned just minutes into second damages trial Wednesday 14 September 2022 01:45 , Oliver O'Connell Alex Jones and Infowars were sanctioned just minutes into the second damages trial over his false claims about the Sandy Hook school shooting. The trial started on Tuesday in Connecticut , where the shooting took place almost a decade ago on 14 December 2012. Judge Barbara Bellis issued a ruling that Mr Jones and Infowars will not be allowed to argue that they didn’t make considerable profits from covering the shooting because they didn’t hand over Google Analytics data concerning the traffic of Infowars to the plaintiffs, Vice reported. Alex Jones sanctioned minutes into damages trial over Sandy Hook claims Watch: Tearful testimony from sister of victim Wednesday 14 September 2022 00:45 , Oliver O'Connell Carlee Soto Parisi, the sister of #SandyHook victim Victoria Soto, cried as she testified about looking for her sister, a teacher at the elementary school at the time of the shooting. pic.twitter.com/dSBBtPuz04 — Law&Crime Network (@LawCrimeNetwork) September 13, 2022 Why is Alex Jones on trial again over his Sandy Hook conspiracies? Tuesday 13 September 2022 23:45 , Oliver O'Connell Conspiracy theorist and conservative radio host Alex Jones is going back to trial a month after a judge ordered he pay nearly $50m for damages caused by his insistence that the Sandy Hook shooting was a hoax. Jones has already been found liable for causing emotional and psychological harm to the families of the victims of the Sandy Hook shooting. Following the attack, he made numerous claims suggesting the shooting was a hoax intended to help justify a government-led confiscation of Americans’ guns. Graig Graziosi reports. Why Alex Jones is headed to trial again over his Sandy Hook conspiracy theories Tuesday 13 September 2022 22:45 , Oliver O'Connell Judge Bellis schooled counsel several times during day one of the trial. Just before the end of the day, she struck from the record what she deemed as “entirely improper comments” made by defence attorney Norm Pattis. "I will strike those improper, entirely improper comments.." - Judge not happy at Norm Pattis...again. #AlexJones #SandyHook pic.twitter.com/XLFtIXUxED — Cathy Russon (@cathyrusson) September 13, 2022 Tuesday 13 September 2022 21:57 , Oliver O'Connell After a brief, objection-peppered, cross-examination, Mr Pattis says he has no further questions and the jury is dismissed for the day. Tuesday 13 September 2022 21:50 , Oliver O'Connell Closing out her direct testimony, Carlee answers that her sister lived and Sandy Hook was real. Cross-examination begins. Tuesday 13 September 2022 21:49 , Oliver O'Connell In addition to online harassment, Carlee recalls a man showing up at a 5K race they would hold each year in honour of Vicky. “He showed up waving a picture, one that was similar to the one you guys saw” and saying “This never happened” and calling her and her family crisis actors. The harasser wore a Team Vicki shirt “just to make it worse,” she adds. Watch: ‘This is 10 years of..this is just awful...what are we doing here?’ Tuesday 13 September 2022 21:45 , Oliver O'Connell "I'm not worried about myself. I'm worried about my family." - Plaintiff Bill Aldenberg testified. He chokes up, "This is..uh..whole thing is messed up. This is 10 years of..this is just awful...what are we doing here?" #AlexJones #SandyHook pic.twitter.com/RP8YQb9n4Y — Cathy Russon (@cathyrusson) September 13, 2022 Tuesday 13 September 2022 21:42 , Oliver O'Connell Other conspiracies included that Vicky wasn’t real and that the family were all actors. “It makes me angry,” Carlee says. “I’m not a liar.” “You can’t grieve properly because you’re constantly defending yourself and your loved ones.” Carlee recalls a woman that went to school with her thought she had made it all up — “I just couldn’t wrap my head around that.” Having moved to North Carolina with her husband, a marine, she met the wife of another servicemember who asked if it had really happened. Tuesday 13 September 2022 21:37 , Oliver O'Connell Carlee recalls finding out that there were people who believed Sandy Hook was a hoax. It was in the first couple of months that people kept posting a picture of Carlee crying outside the school which had become famous. They would put them alongside other photos of young women caught up in other tragedies such as the Boston bombing and Aurora shooting and allege it was all the same crisis actor. (AP) The theories about her snowballed. Carlee saw tons of posts about her on Facebook and Twitter and Instagram. “I had no idea why someone would make this up. I was so confused,” she recalls. “You feel so small.” She adds: “You’re just one person. What can you do?” Tuesday 13 September 2022 21:33 , Oliver O'Connell At the firehouse, Carlee remembers a parent standing up and yelling, demanding to know what hospital their kids were at. They were told in response that everyone in the room had lost a loved one. She thinks the Governor told them this. She remembers running out of the room after this and fell into a firefighter’s arms who was standing outside. Her dad came up behind her and said “we need to go home, there’s no reason for us to stay here anymore”. Tuesday 13 September 2022 21:31 , Oliver O'Connell After giving a description to a state trooper with the help of a teacher who has seen what Vicky was wearing, Carlee waited at a barrier set up around the school and kept trying to contact her sister by text and voicemail. Asked if she had heard of Alex Jones before this, she says no. Carlee says people were taking it seriously and there was no evidence of it being fake — no “frauds, actors, or imposters”. Carlee testifies she didn't see anyone at the scene questioning the shooting nor did she see any "frauds, actors or imposters" in the attorney's words. Being in the firehouse was traumatic, she says. — Anna Merlan (@annamerlan) September 13, 2022 Tuesday 13 September 2022 21:24 , Oliver O'Connell Ms Soto Parisi is asked about her home life and recalls that the night before she died Vicky came home with a big bag of Scholastic books for her classroom. Carlee says Vicky was “one of the first in the building and one of the last to leave.” That morning Carlee heard her get up, stomping around getting ready. She didn’t see her though. Later that morning Vicky was called by her mother who drove her and her brother to Sandy Hook. She remembers lots of people running and crying around the school. They were directed to the firehouse which had been set up as a meeting point. No one had seen Vicky. Witness: Carlee Soto-Parisi Tuesday 13 September 2022 21:15 , Oliver O'Connell The next witness is Carlee Soto-Parisi, the sister of Vicky Soto, one of the teachers murdered at Sandy Hook Elementary School on 14 December 2012. She is married with three children and is a stay-at-home mother. Vicky was 27 when she died, ten years ago. The whole family, including all four siblings, lived with their parents at the time in Stratford at the time. Sister of #SandyHook teacher that died in the shooting takes the stand. Carlee Soto Parisi's sister was Victoria Soto. #AlexJones pic.twitter.com/biX8S5DDKq — Cathy Russon (@cathyrusson) September 13, 2022 Watch: Judge Bellis tells off attorneys for squabbling in court Tuesday 13 September 2022 21:10 , Oliver O'Connell "COUNSEL! SIDEBAR!" - Judge in #AlexJones yells at the attorneys. At the sidebar the judge told both sides "I'm not going to have it, do you understand?" This is about them going back at forth at each other during witness testimony. pic.twitter.com/yaB0SbPKgq — Cathy Russon (@cathyrusson) September 13, 2022 Lawyer for Sandy Hook families blasts Alex Jones as second damages trial begins Tuesday 13 September 2022 21:00 , Oliver O'Connell A lawyer representing eight families who lost family members in the 2012 Sandy Hook massacre tore into Infowars founder Alex Jones as the second damages trial against him began in Connecticut . “Unless you stand up to bullies, a bully will never stop,” Chris Mattei said during opening statements on Tuesday, according to Law & Crime. Gustaf Kilander is watching the trial. Sandy Hook families’ lawyer blasts Alex Jones as second damages trial begins Tuesday 13 September 2022 20:56 , Oliver O'Connell After a short redirect and the failure to play a video, the court take a five-minute recess before the next witness is called. Tuesday 13 September 2022 20:53 , Oliver O'Connell Mr Pattis asks who are the powerful people that Jones is affiliated with. Mr Aldenberg asks if Mr Pattis knows who Joe Rogan is and he asks: “Is Joe Rogan harassing you too?” There is a wave of squabbling and backtalk at which point Judge Bellis shouts: “Counsel, sidebar!” Both attorneys sheepishly approach the bench and agree to something the judge tells them. Shortly after, Mr Pattis finishes cross-examination and re-direct begins. Tuesday 13 September 2022 20:51 , Oliver O'Connell The jury is sent out for an extensive sidebar regarding mentions of Hillary Clinton and Megyn Kelly by Mr Pattis. Mr Mattei says Mr Pattis’ trial strategy is to inject political opinion and viewpoints into the arguments. Mr Pattis argues that Mr Mattei already did that with his opening statement. The judge rules against Mr Pattis who said he will not mention Ms Kelly and will move on. Tuesday 13 September 2022 20:35 , Oliver O'Connell “When did you first learn the name Alex Jones?” Mr Pattis asks. Mr Aldenberg says he assumes he learned it from the victims’ specialist. He thinks he learned about Halbig targeting him from the New Haven division of the FBI. Regarding the messages he received, Mr Pattis asks if anyone was ever arrested for threatening Mr Aldenberg online. No one was. Tuesday 13 September 2022 20:28 , Oliver O'Connell Cross-examination begins with Mr Pattis asking if Mr Aldenberg considers himself a first responder. He responds that he does not. He is then asked about how often he saw his therapist after Sandy Hook. Mr Aldenberg says he had approximately a dozen sessions ranging from 10 to 30 minutes both in-person and by phone. Tuesday 13 September 2022 20:08 , Oliver O'Connell Court takes a 15 minute break and will resume with cross-examination of Mr Aldenberg by Mr Pattis of the defence team. Tuesday 13 September 2022 20:08 , Oliver O'Connell “Some of these people are very deranged,” Mr Aldenberg testifies, adding that the enormity of Alex Jones’ audience made him worry for his family. “This whole thing is messed up,” he says, noting that it has now amounted to ten years of harassment. “What are we doing here?” he asks, emotionally. Mr Aldenberg says he googles himself about once a week for the safety of his family to see if there are any new theories or threats. He reiterates that the conspiracy theorists are “deranged” and could be outside the courthouse today. When asked about the involvement of Mr Wheeler in the theories about him, Mr Aldenberg cries again and says he finds that the worst part and takes some responsibility for the harassment that Mr Wheeler has had to endure since the death of his son. Tuesday 13 September 2022 20:00 , Oliver O'Connell “At some point you have to just accept it,” Mr Aldenberg says, adding that Alex Jones and his company are “very powerful people” and he can’t defend himself alone. His attempts to get help from the FBI and the association for agents went nowhere. Mr Aldenberg would get “violent, threatening” messages from a man called John Santiago saying he was David Wheeler. The man’s Facebook profile picture was a split image of the two men. Santiago contacted FBI agents who warned Mr Aldeneberg that he sounded dangerous. Wolfgang Halbig — who appeared on Alex Jones’ show — was also calling and emailing the FBI, saying Mr Aldenberg wasn’t an FBI agent, he testified. The defence keeps objecting over speculation and hearsay. Mr Aldenberg tries to reframe his answers appropriately, but remains emotional. Tuesday 13 September 2022 19:52 , Oliver O'Connell Mr Aldenberg recalls how eventually he became the centre of conspiracy theories, more than two years after the tragedy. Some people online started analysing photos showing Mr Aldenberg saying he wasn’t a real FBI agent and that he was an actor, he testifies. He again starts hyperventilating when he recalls conspiracy theorists saying he was the same person as David Wheeler, whose son Ben died in the attack. Mr Aldenberg describes the conspiracy theories as “crushing” adding that people created social media accounts under his name “and spread this filth”. Tuesday 13 September 2022 19:42 , Oliver O'Connell Mr Mattei establishes that Mr Aldenberg reutned to Sandy Hook after the tragedy because there were “threats being made to the children’s funerals,” that people were “going to come and cause trouble at the funerals.” He worked security at one of the children’s funerals at Trinity Episcopal Church in January 2013. At that time Mr Aldenberg also became in-house counsel for the FBI in Connecticut and oversaw a victims’ assistance program. One of the victims’ specialists he oversaw spent about 18 months responding to threats and harassment that Sandy Hook families said they were experiencing. “It was constant,” he said, recalling that there were death threats and anonymous phone calls to people all over town from “seriously disturbed people”. || What Is Crypto’s Downfall? Its Complexity: As in many financial markets, bitcoin and other cryptocurrencies have seen their value plunge so far this year. A handful of projects like Terra have imploded before our very eyes. This sequence of events has led many investors and onlookers to question whether there's a viable future for the asset class that was so bullish just a year ago.
The pandemic brought an influx new bitcoin and other asset investors, many of whom lost big this summer. Most didn’t understand the risks partially because of naivete, but also due to the increasingly complex crypto ecosystem making it harder to understand.
Jameson Lopp is the co-founder and chief technology officer of bitcoin security provider Casa. He previously served as a software engineer at BitGo, and has written extensively about cypherpunks and bitcoin.
The warning signs were there for those of us who have been around for more than one market cycle. The reality is that each project is its own unique animal, and not all of them are built to withstand the myriad threats that lie ahead.
While it will take some time for sentiment to recover, it’s premature to dunk on bitcoin and the like right now. There may still be some potential to be found out there. In the meantime, there are several red flags to watch out for when vetting other projects.
When Bitcoin began in 2009, it was in a league of its own. Since then, it has emerged as a store of value and censorship-resistant network with a market cap that has exceeded $1 trillion. Even with the recent crash, I believe Bitcoin’s potential remains as bright as ever. I can’t say the same for all of the projects that followed.
Today, there are more than 20,000 cryptocurrencies, digital assets, tokens and projects – all promising to be the future of finance. Each takes some elements of Bitcoin’s design – blockchain, decentralization, economics, mining, cryptography – and alters them to fulfill some other use case. As a technologist, I appreciate the experimentation that takes place in crypto. I’m less interested in the hype.
New projects are always risky, regardless of if the people behind them are well-intentioned.Deadcoins.comtracks projects that have folded and currently lists over 1,700 in its catalog. Remember that half of all startup businesses fail within 5 years; it’s not surprising that we see even higher failure rates in this cutting edge technology sector. Many projects will be unrealistically optimistic, but the only way to test if an idea works is to try to build it and see what happens.
Looking at the bigger picture of risks, a2018 report by Satis Groupconcluded that 80% of ICO projects launched in 2017 were outright scams, while 7% had failed and about only 10% looked promising for long-term success.
See also:Timothy C. May: Enough With the ICO-Me-So-Horny-Get-Rich-Quick-Lambo Crypto| Opinion (2018)
When people get interested in cryptocurrency, they often feel compelled like they missed the boat and are thus to find “the next bitcoin.” Entrepreneurs quickly wised up to that fact and began issuing altcoins and tokens with so much as a poorly-written white paper. This has created a vicious cycle of pump-and-dump scams that do not reflect the hard work of many of us in the industry.
If you’ve been the victim of one of these schemes, I suggest using this bear market as a time to reflect and learn about the underlying technology and its merits, beginning with Bitcoin. Bitcoin has a proven track record, but I don’t rule out the possibility that some value will emerge from the many attempts at crypto innovation. Scientifically, you can’t prove a negative. Moreover, the market will continue to hone in on other valuable use cases developed through the successes and failures of other cryptographically-secured protocols.
A large part of engineering is about managing trade-offs, like the need for convenience, speed and security. Bitcoin was designed as a decentralized network that processes blocks of transactions every 10 minutes, give or take.
Over the years, many parties have sought to improve upon this design in various ways. Some have tried to increase the number of transactions in every block. Others went after faster transactions. A number of projects have tried to plug other data from the real world into a blockchain to create sophisticated markets like derivatives.
These efforts have struggled to overtake Bitcoin as the dominant store of value because they usually introduce some form of centralization. Centralization is highly efficient, but it undermines your efforts if your goal is to democratize finance and empower individuals.
See also:Bitcoin and the Rise of the Cypherpunks| Opinion (2016)
Centralization hurts projects because it tends to corrupt incentives for their respective communities. For instance, an altcoin project might make it hard for everyday users to run a node and participate in the network, or they could create an inner circle of validators as gatekeepers of transactions. If a validator is curating data to feed into a blockchain, it could be a single point of failure through bribery, collusion or outright attack.
Bitcoin’s success has been predicated on its decentralization. Users can participate in the network without having to trust one another. They only have to trust the network protocol rules, which they can verify with whatever software they choose. This decentralization is why bitcoin has grown as a form of money.
Complexity is the enemy of security. The more moving parts you add to a system, the more potential points of failure. It doesn’t necessarily do a lot of good to create a magical smart-contract platform if you can’t prevent abuse or denial of service. Sometimes impressive white papers fail to translate into effective projects. Perfect can be the enemy of good.
According toSlowMist, the most common forms of loss after scams are flash loans, congestion attacks, and contract vulnerabilities. All of these are a result of systems that have created fragility due to their complexity. It is more challenging for developers to write robust code when the total number of possible interactions users can have with the code increases exponentially.
Discipline is underappreciated in technology. It’s hard to create a system that works as well as Bitcoin. It’s designed to do one thing and only one thing well: Be sound money.
A grandiose vision needs grandiose implementation, and that’s hard to provide in a decentralized fashion. Building an open, permissionless network is the equivalent of building a plane while you’re flying it, and developers have to be careful not to tilt economic incentives in the wrong direction. Each step in building something needs to be checked for stability and security from both internal and external threats.
Furthermore, complexity increases risk for users. Plenty of private keys have been lost due to user error. As co-founder and chief technology officer ofCasa, a bitcoin security provider, I strive to find ways to accommodate users from all walks of life. Simplicity is king.
Bitcoin is changing the world as a tool for individual empowerment. As for crypto, the unknowns grow every day with each new project. The space has grown to an extent where no individual can vet the technical nuances of every project, so it’s reasonable to maintain some curiosity along with a healthy dose of skepticism. As you venture into the crypto verse, strive to balance optimism with realism and you’ll be on your way to findingvires in numeris(strength in numbers).
UPDATE (AUGUST 2, 2022 – 18:33 UTC):Added context about common scams failed initial coin offerings || Rating the Top 3 Fuel Cell Energy Stocks Following Q2 Earnings: Fuel cell energy stocks have been making headlines during the summer. The industry is likely tosubstantially benefitfrom the recently signed Inflation Reduction Act, which “includes support for hydrogen through a new tax credit that will award up to $3/kg for low carbon hydrogen.”
Investors seem to agree, with theNASDAQ Clean Edge Green Energy Indexdown less than 5% year-to-date (YTD). In comparison, theNASDAQ Composite Indexis down almost 20% over the same period.
Fuel cell technology has been at the forefront of the green energy revolution for many years. According to theUS Department of Energy,fuel cellsuse “the chemical energy of hydrogen or other fuels to cleanly and efficiently produce electricity. If hydrogen is the fuel, the only products are electricity, water, and heat.”
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Meanwhile,recent researchhighlights, “The global fuel cell market size was valued at USD 4.1 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 23.2% from 2020 to 2028.” Therefore, Wall Street pays close attention to fuel cell energy stocks.
Most analysts agree fuel cell energy continues to play an important role in achieving net zero carbon emissions. As the related technology improves, this sector is likely to rebound stronger than ever. With that information, here are three fuel cell energy stocks to buy now.
[{"FCEL": "BLDP", "FuelCell Energy": "Ballard Power Systems", "$4.02": "$7.30"}, {"FCEL": "PLUG", "FuelCell Energy": "Plug Power", "$4.02": "$26.39"}]
Source: Bern James / Shutterstock.com
52-week range:$2.87 – $11.63
FuelCell Energy(NASDAQ:FCEL) manufactures, operates and services hydrogen fuel cell power plants worldwide. It operates thelargest fuel cell parkin the world, the Gyeonggi Green Energy Park in South Korea, as well as the largest park in North America in Bridgeport, CT.
In early June, FuelCell reportedsecond-quarter financials. Revenue increased from $14 million to $16.4 million. Net diluted loss per share was 8 cents, compared to a loss per share of 6 cents the year before. Cash and equivalents totaled $467.8 million.
Recently, the companyannounceda collaboration with TuNur, a renewable energy developer based in Tunisia. The agreement seeks to develop and deliver FuelCell green energy solutions to Europe and North Africa. Tunisia has substantial solar power potential and a pipeline that extends to Italy, facilitating the delivery of green energy into Europe. Therefore, long-term FuelCell Energy investors will be paying close attention to how the deal may help the top line.
So far in the year, FCEL stock has fallen around 30% YTD. Shares are trading at 18.9 times sales. Wall Street’s 12-month median forecaststands at $5.
Source: Pavel Kapysh / Shutterstock.com
52-week range:$5.75 – $19.66
Ballard Power Systems(NASDAQ:BLDP) develops and manufactures proton exchange membrane fuel cell products for use in heavy-duty automobiles, portable power, materials and engineering.
In early August, Ballard postedQ2 earnings. Revenue was $20.9 million, down 16% year-over-year (YOY). Diluted loss per share was 19 cents, compared to 7 cents the prior year. Cash reserves were just over $1 billion.
Recently, the energy companyshowcaseda hydrogen fuel cell-powered class 2 truck chassis. The demonstration is a product of a strategic partnership between Ballard andLinamar(OTCMKTS:LIMAF). The chassis utilizes Ballard’s eighth generation FCmove-HD+ fuel cell module, which is smaller, lighter and simpler than previous models.
BLDP stock has dropped more than 40% YTD. Shares are trading at 23.9 times sales. Lastly, the 12-month median forecaststands at $10.
Source: Alexander Kirch / Shutterstock.com
52-week range:$12.70 – $46.50
Plug Power(NASDAQ:PLUG) develops hydrogen fuel cell systems designed to replace conventional batteries in equipment and vehicles. The company’s vertically-integrated solution,Genkey, produces, transports and dispenses hydrogen for various applications.
In early August, Plug presentedQ2 results. Revenue increased from $124.6 million to $151.3 million. Diluted loss per share was 30 cents compared to 18 cents the year before. Cash and equivalents totaled $2.3 billion.
The company was recentlyselectedbyNew Fortress Energy(NASDAQ:NFE) to build a 120 megawatt green hydrogen plant near Beaumont, Texas. The new facility will use Plug’s proton-exchange membrane (PEM) electrolysis technology to produce more than 50 tons per day of hydrogen. According to the company, the facility will be scalable up to 500 megawatts with supporting infrastructure.
PLUG stock is down about 8% YTD, but up 4% over the past year. Shares are trading at 28.2 times sales. Finally, the 12-month median forecaststands at $35.
On the date of publication, Tezcan Gecgil 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.
Tezcan Gecgil has worked in investment management for over two decades in the U.S. and U.K. In addition to formal higher education in the field, she has also completed all 3 levels of the Chartered Market Technician (CMT) examination. Her passion is for options trading based on technical analysis of fundamentally strong companies. She especially enjoys setting up weekly covered calls for income generation.
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The postRating the Top 3 Fuel Cell Energy Stocks Following Q2 Earningsappeared first onInvestorPlace. || First Mover Americas: Bitcoin Steady at $19K as Traders Wait for Fed's Decision: Price Point: Bitcoin was trading flat in line with stocks as investors await the Federal Reserve's interest rate decision on Wednesday. Market Moves: Bitcoin investors will be focused on what Fed officials have to say Wednesday about "core inflation" more than on the interest rate decision itself. Chart of the Day : Ether has broken out of a three-month bullish trendline. This article originally appeared in First Mover , CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Price Point Bitcoin ( BTC ) was holding steady at just above $19,000, as traders awaited an expected interest-rate hike later Wednesday by the Federal Reserve. (Scroll down to Market Moves for Omkar Godbole’s preview of the meeting.) The largest cryptocurrency appeared to be moving in line with traditional markets , where investors were mostly staying on sidelines ahead of the meeting. The Fed decision is expected at 2 p.m. ET (18:00 UTC), followed by a press conference with Fed Chairman Jerome Powell. Ether ( ETH ) was also little changed at just over $1,300 – ostensibly bringing relief to traders still reeling from last week’s 24% plunge, as the Ethereum blockchain successfully underwent its much-hyped Merge to a more energy-efficient system . CoinDesk’s Shaurya Malwa reported that “funding rates” – which are similar to interest rates but which are what traders pay for leveraged bets on crypto exchanges – reverted to normal levels; which could be a sign that the ether market is turning less bearish In the news, the stablecoin issuer Tether was ordered by a U.S. judge in New York to produce financial records relating to the backing of USDT . (CoinDesk’s Krisztian Sandor reported Tuesday on a new dollar-pegged stablecoin, CUSD , from the decentralized-finance platform Coin98.) CoinDesk Market Index Biggest Gainers Asset Ticker Returns DACS Sector Ravencoin RVN +5.19% Currency Kusama KSM +4.99% Smart Contract Platform Polymath POLY +4.44% DeFi Biggest Losers Asset Ticker Returns DACS Sector Chiliz CHZ -5.33% Culture & Entertainment Terra Luna Classic LUNA -4.48% Smart Contract Platform Rarible RARI -3.96% Culture & Entertainment Sector classifications are provided via the Digital Asset Classification Standard (DACS) , developed by CoinDesk Indices to provide a reliable, comprehensive and standardized classification system for digital assets. The CoinDesk Market Index (CMI) is a broad-based index designed to measure the market capitalization weighted performance of the digital asset market subject to minimum trading and exchange eligibility requirements. Story continues Market Moves Fed Preview: Bitcoin Investors to Look Past Jumbo Rate Hike and Focus on Economic Assessment and Borrowing Cost Estimates By Omkar Godbole With risky assets, including bitcoin, under pressure ahead of Wednesday's pivotal Federal Reserve (Fed) meeting, pundits think markets have already incorporated a super-sized rate hike . So the focus will be on what the Fed says concerning the persistent core inflation (core inflation strips out the energy and food components), the labor market and the demand conditions that have remained stronger than policymakers judged in July. "The theme for tomorrow to me is not about 75 [basis point hike] or 100, even though I am in the 75 camp. The theme for tomorrow is that the Fed thought the economic weakness we saw in Q2 was going to assist them in getting inflation back to target and they no longer have confidence," Jon Turek, author of the Cheap Convexity blog , wrote in a note to subscribers Tuesday. The Fed saw evidence of a slowing economy at its July meeting, but the data released since then suggests otherwise. Notably, the jobs market has remained firm, keeping wages higher. The August consumer price index (CPI) figure released last week revealed that prices for things like rent and services are preventing inflation from cooling. Read the full story here . Chart of The Day Ether Dives Out of 3-Month Bullish Trendline By Omkar Godbole Ether's daily chart shows renewed bearish developments. (Source: TradingView) Ether has breached the trendline, characterizing the corrective rally from lows reached in June. The breakdown comes days after the cryptocurrency fell below a Japanese charting tool called the Ichimoku cloud . "Ether broke below the daily cloud last week, increasing the likelihood that we see a retest of the psychological support of $1,000, aligned with the June low," Katie Stockton, founder of Fairlead Strategies, wrote to clients on Monday. Latest Headlines Iran to Start Testing a Digital Rial This Week: The country's central bank published a draft document outlining goals and and opportunities for a digital currency in August. Push to Cut Ethereum Network Fees Opens Funds-Draining Bug in Scaling Tool Arbitrum : The vulnerability would have allowed attackers to steal all ether deposits into Arbitrum Nitro. Nova Labs Inks Agreement With T-Mobile to Cover 5G Dead Spots in Helium Network : Terms of the five-year agreement with the wireless giant weren't disclosed. || Apple Begins Making iPhone 14 in India Weeks Ahead of Schedule: (Bloomberg) -- Apple Inc. began making its new iPhone 14 in India sooner than anticipated, after a surprisingly smooth production rollout that slashed the lag between Chinese and Indian output from months to mere weeks. Most Read from Bloomberg MacKenzie Scott Files for Divorce From Science Teacher Husband Trump Refuses to Delay Florida Deposition in Phone-Fraud Case Despite Hurricane Apple Ditches iPhone Production Increase After Demand Falters Stocks Plummet to 22-Month Low as Fed Hawks Circle: Markets Wrap The UKs Crisis of Confidence Was Years in the Making The US tech giant made the announcement on Monday, weeks after the marquee devices Sept. 7 unveiling. It had worked with Foxconn Technology Group, its most important production partner, with the original goal of assembling iPhones in Chennai about two months after global launch, Bloomberg News reported in August. The partners quickened the process after resolving supply chain issues, which helped production go smoother than expected, people familiar with the matter said, asking to remain anonymous discussing internal procedures. Apple, which long made most of its iPhones in China, is seeking alternatives as Xi Jinpings administration clashes with the US government and imposes lockdowns across the country that have disrupted economic activity. At the same time, Narendra Modis administration is keen to make the country into a viable competitor to China in technology and production capability, especially as Western investors and corporations begin to sour on Beijings track record. India is now an attractive location for manufacturing as it offers better labor cost structure while Apple is looking to reduce geopolitical risks, said Jeff Pu, an analyst with Haitong International Securities. To turn India into a major manufacturing site, Apple will help India accelerate its production timeline. Read more: Apples New IPhone to Show India Closing Tech Gap With China Were excited to be manufacturing iPhone 14 in India, Apple said in an emailed statement Monday without discussing production timelines. A Foxconn representative declined to comment. Story continues Apple-partners such as Foxconn, which makes the majority of the worlds iPhones, typically begin assembling the device in India about six to nine months after Chinese factories. Thats partly because more time is needed to secure and ship critical components to a supply chain less accustomed to the process. Assembling iPhones often entails coordination between hundreds of suppliers and meeting Apples infamously tight deadlines and quality controls. Still, analysts such as Ming-Chi Kuo of TF International Securities Group have said they anticipate Apple will eventually ship new iPhones from both countries at roughly the same time, a milestone in Apples efforts to diversify its supply chain and build redundancy. Matching Chinas pace of iPhone production would also mark a major achievement for India, which has been touting its attractiveness as an alternative at a time when rolling Covid lockdowns and US sanctions jeopardize the larger countrys position as factory to the world. Industry executives are exploring a so-called China-plus-one strategy of migrating some production to countries such as India or Vietnam. Apples partners began making iPhones in India in 2017, the start of a yearslong effort to build manufacturing capabilities in the country. Besides offering backup to existing operations, the country of 1.4 billion is a promising consumer market and the Modi administration has offered financial incentives under its Make in India program. All major companies are now looking at India as part of their China-plus one or China-plus two strategy, said Aruna Sundararajan, who served as a secretary to the federal government in 2017 when Apple first began assembling iPhones in India. For the long run, we need to strengthen our logistics and infrastructure, boost the human capital and focus more on building an export hub to make India a viable alternative to China. Most Read from Bloomberg Businessweek The Unstoppable Dollar Is Wreaking Havoc Everywhere But America Jay Powell Needs Investors to Lose Money Googles Low-Tech Plan to Solve the Opioid Crisis As Home Prices Surge, Americans Are Moving to Cheaper Places Twitter Is in This Mess Because Jack Dorsey Was Too Busy Being a Bitcoin Influencer ©2022 Bloomberg L.P. || As Ethereum Merge Looms, Michael Saylor Pushes Back Against Bitcoin's Energy Critics: Michael Saylordoesn’t believe the Bitcoin network has negative environmental impacts.
The Bitcoin maximalist, executive chairman of MicroStrategy and allegedtax evadersaid Wednesdayin a letterthat mining is “the most efficient, cleanest industrial use of electricity.” He said that Bitcoin’s mechanism is 100 times greater in its output cost than its input.
Read more:Ethereum After the Merge: What Comes Next?
Estimates place the annual energy consumption of Bitcoin on par with that of a small country. But proponents of the original cryptocurrency and its energy-intensiveproof-of-workconsensus mechanism argue that much of the burn comes from green sources, like wind and solar.
In the PoW model, miners race against each other to add new blocks to the chain. But other popular blockchains are eschewing PoW. Ethereum’s pendingMergeupgrade to a proof-of-stake consensus system is intended to significantly reduce those environmental concerns.
In Saylor’s telling, it's not so simple. He argued that “dedicated energy” powering these devices will move to “generic computers,” redistributing efficiency that would not limit carbon emissions. Saylor has previously pledged to defend Bitcoin against energy critics as a founding member of the Bitcoin Mining Council.
Read also:Michael Saylor: Mining Council Will 'Defend' Bitcoin Against 'Uninformed' and 'Hostile' Energy Critics
Saylor said the negative sentiments surrounding PoW mining tend to “distract regulators, politicians [and] the general public” from proof-of-stake-based cryptocurrencies, which are “generally unregistered securities.” || We can have effective crypto regulation without stifling innovation. Here’s how: The only constant about the crypto markets over the past few weeks is the speed at which things seem to be getting worse.
Even the most seasoned observers were shocked as Bitcoinlost more than half its value in the space of a few monthsand the total market cap for cryptocurrenciesdropped below the $1 trillionmark after it reached $3 trillion in November.
It’s a chain of events that started with the overnightcollapse of algorithmic stablecoin TerraUSDand its companion token Luna. The contagion effects took down Three Arrows Capital, Celsius, and Voyager.
Now, critics are doubling down on their claim that crypto markets are nothing but a “wild west” of costly speculation. The crypto industry and traditional finance await more–and potentially far more aggressive–government regulation.
Only time will tell what that regulation will look like and whether it will be effective. Currently, one thing is clear: The application of traditional regulatory frameworks won’t cut it.
Cryptocurrency is a unique asset class based on a unique technology. For crypto regulation to truly make a difference, it will need to protect investorswithoutstifling financial innovation.
My experience as a regulator for the Treasury, an architect of one of the first crypto compliance functions, and the co-founder ofa regtech companyhas led me to conclude that a strong and comprehensive regulatory framework for cryptocurrency can only be achieved through the prioritization of a few key objectives.
The SEC has made clear its desire to regulate and oversee cryptocurrencies. Therecent, near doubling in size of its Cyber Unit(now renamed the “Crypto Assets and Cyber Unit”) shows that it’s ready to dedicate further resources and personnel to bringing crypto fully under its regulatory umbrella. But while increasing personnel will inevitably extend the SEC’s enforcement capabilities, crypto platforms are still waiting for answers to the question of exactly how cryptocurrencies are to be classified, as well as how regulatory authority will be split or shared between the SEC and the Commodity Futures Trading Commission (CFTC).
It will be up to Congress to step in and sort out these questions. However, decisive legislation in the near term doesn’t seem particularly likely, considering that lawmakersonly recently began prioritizing crypto hearings.
When lawmakers brought in Crypto CEOs for a meeting last December, a key presentation was a “level-setting” explanation of the blockchain and the basics of web3 by former acting Comptroller of the Currency, Brian Brooks (notably the first agency head with a background in crypto). This was a good first step, but lawmaker education will be key in closing the knowledge gap to create effective regulation.
To date, potential regulators have defined crypto by comparing it to the closest approximation from the world of traditional finance. This “if-it-looks-like-a-duck" approach has resulted in definitions based on what cryptocurrency has in common with traditional finance, rather than what sets it apart.
Crypto regulators will need to createnewdefinitions–ones that speak directly to the technology and processes unique to crypto. This, in turn, will allow regulators to create a regulatory framework specially tailored to the assets it seeks to oversee.
Some of these definitions have been written intothe recent Gillibrand-Lummis bill. Should the bill pass, those definitions would become the literal “letter of the law.” But it remains to be seen whether the language and information provided would be sufficient for the agencies tasked with creating and enforcing regulations.
It’s an old truism that innovation doesn’t happen in a boardroom. Technological innovation often requires an independent streak that doesn’t play nice with the status quo.
The problem, of course, is when that independent streak runs afoul of traditional legal safeguards. But regulation and innovation can work together if we stay flexible and focused on theend consumer. Insofar as a crypto token fits an existing regulatory framework, the regulation should apply.
However, if a token fits in multiple regulatory frameworks depending on how it is used, individual use cases shouldn’t automatically extend the regulatory scope beyond its purview. A good litmus test for regulators is to ask the question:Is this rule protecting the end consumer? Or am I protecting existing businesses at the expense of new product innovation that could improve consumer outcomes or promote competition?
Regulators cannot be expected to see the future more than anyone else. But by being conscious–not just of the limits that are being set, but of the space left for products and processes togrow–they can write strong, comprehensive regulations while still allowing finance and technology to continue to evolve.
Future conversations about 2022’s crypto market crash will inevitably focus on how fast things went wrong. It will be front of mind for lawmakers and regulatory agencies as they develop new policies specifically designed to protect consumers and counter extreme market volatility.
As these new laws solidify, it will be crucial that these groups consider an often overlooked policy objective: the development of an enforcement framework that will allow regulators to move as fast as the crypto market itself.
Speed is not traditionally a regulator’s strong suit–and intentionally so. Regulators are, by nature, thoughtful, prudent, and measured. But in contrast to the opacity of the traditional finance industry, crypto-specific regulations have the potential to take advantage of crypto’s own native characteristics, such as its digital-first format and inherent transparency.
This not only means thatblockchain-enabled toolscan be put to use helping enforce regulations, but future regulations will also stand to gain from the technological advancements that have sprung up as part of the larger crypto ecosystem.
This, like the work of setting clear definitions and writing flexible policy, will require work on the part of both lawmakers and regulatory agencies. But the reward for doing so may be a regulatory enforcement framework that paves the way not just for crypto regulation, but for the next generation of traditional financial market regulation as well.
The silver lining to periods of crisis and difficulty is that they often spur action from those with the power to enact lasting change.
However, there is always a danger that the desire to “fix what’s broken” will lead to decision-making that is overly conservative and shortsighted, stifling growth in the long term.
Crypto regulation is needed–and the time to write and implement it has clearly arrived. Policymakers would do well to remember that to ignore what makes cryptocurrencies unique and valuable is just as foolish as never regulating them at all.
Matt Van Buskirk is the co-founder and CEO of Hummingbird Regtech.
The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not reflect the opinions and beliefs of Fortune.
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This story was originally featured onFortune.com
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 19110.55, 19426.72, 19573.05, 19431.79, 19312.10, 19044.11, 19623.58, 20336.84, 20160.72, 19955.44
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-05-03]
BTC Price: 450.30, BTC RSI: 56.58
Gold Price: 1290.70, Gold RSI: 65.27
Oil Price: 43.65, Oil RSI: 58.00
[Random Sample of News (last 60 days)]
Can you Pick the 2016 Election Winners Without TV Analysts? Heres a Better Bet: Watch the video of Can you Pick the 2016 Election Winners Without TV Analysts? Heres a Better Bet on MoneyTalksNews.com. If you want a quick glimpse at whos likeliest to be our next president, dont listen to pollsters and pundits. Follow the money. We dont mean the big bucks of super PACs or even the millions from small-money donors. Were talking about real money people who wager on election outcomes. It turns out that the collective wisdom of bettors has a better record of predicting winners than the talking heads. One place that bettors congregate online is the Iowa Electronic Markets , or the IEM, at the University of Iowa. If you look at polls run during the election, in about 75 percent of the cases, Iowas market prices predict the outcome of elections better than the polls, says Joyce Berg, a University of Iowa accounting professor who oversees the IEM. Frederick Boehmke, University of Iowa political science professor and faculty adviser to the Hawkeye Poll, recently explained why to the Quad City Times newspaper . A poll asks a persons preference, what they want to happen, Boehmke said. People investing in the IEM, however, are trying to make money, so they pick the candidate or party they think will win. They typically set aside personal preferences to make money. Also, a poll is a snapshot at a moment in time, Boehmke said. The market is about who will win in the end. The IEM and another exchange, PredictIt , which is set up in Washington, D.C., under the auspices of Victoria University of Wellington, New Zealand, say the predictions work because the wisdom of crowds aggregates the expectations of thousands of bettors who have skin in the game. A now-defunct exchange called Intrade in 2012 predicted the electoral outcome in 49 of the 50 states. People who put up real money are more likely to consider all the available information than people who just offer their opinions, says Money Talks News financial expert Stacy Johnson. Story continues That information could include economic and business conditions, stock market performance, inflation and employment rates as well as other factors that could sway voters moods. Once invested in the outcome, bettors follow campaigns closely. As on a stock exchange and similar to fantasy sports leagues, bettors can make or lose money buying and selling their shares in the outcomes in which they invested. You can get in on the action. How it works In exchanges, bettors actually are traders who buy and sell real-money contracts based on their beliefs about yes or no election outcomes. Unlike a casino sports book, the exchange does not set odds. The prices reflect the probabilities of various candidate winning a given political race. PredictIt explains it this way: You make predictions on future events by buying shares in an outcome, Yes or No. Each outcome has a probability between 1 and 99 percent, which is converted into U.S. cents. For example, Trader A thinks an event has at least a 60 percent chance of taking place so she offers 60 cents for a Yes share. PredictIt matches her offer with that of Trader B, who is willing to pay 40 cents for a No share. Each trader now owns a share in the market for this event on opposite sides.
If an event does take place, all Yes shares are redeemed at $1. Shares in No become worthless. If the event does not take place before the market closes, traders holding shares in No will be paid $1, while Yes shares will be worthless. At the IEM, you can open an account for $5 to $200. If you just want to look, check whos leading the popular bets. Popular bets For the moment, according to the exchanges and other betting venues, the odds-on favorite is Hillary Clinton. That doesnt mean bettors favor Hillarys politics over those of Bernie Sanders, her rival for the Democratic nomination, or Republican front-runner Donald Trump. It just means they bet she wins. The likelihood of a Trump presidency, according to bettors, is less than 20 percent. Both the IEM and PredictIt offer markets in who will be the GOP and Democratic presidential nominees. IEM has a market in which party will win the 2016 election as well as one in which you can bet on how the parties will share the popular vote. As of March 11, it was Democrats, about 55 percent, leading Republicans, 45 percent. The IEM also has a market on who will control Congress (Republican House, Democratic Senate is leading). PredictIt also has bets on upcoming party primaries, including Ohio (Kasich beating Trump, Clinton beating Sanders) and Illinois (Trump trouncing Cruz, Clinton trouncing Sanders) as well as topics such as whether the GOP will have a brokered convention (No is beating Yes) and will Marco Rubio drop out by March 18 (Yes is beating No). More sites at which to garner predictions Election Betting Odds : Run by Fox Business reporter John Stossel and his producer, Maxim Lott, Election Betting Odds features odds derived from an exchange, Betfair.com , which does not accept American traders due to regulations. It recently showed Clinton with a 64 percent probability of winning the White House and Trump with a 19 percent chance. FiveThirtyEight : This site is run by Nate Silver, known for calling the results in 49 out of 50 states in 2008 and all 50 states in 2012, FiveThirtyEight is predicting outcomes from primaries and caucuses based on data from polls and endorsements. PredictWise: Run by David Rothschild, an economist at Microsoft Research in New York City, PredictWise aggregates data on politics as well as sports, finance and entertainment. The site says it is does not favor gambling. It does indicate the Democratic nominee has a 69 percent chance of winning the White House compared with the Republican candidates 31 percent chance of winning. It also predicts Clinton will be the Democratic nominee by a better than 9-1 ratio over Sanders, and that Trump has a 76 percent probability of winning the GOP nomination. Pinnacle Sports : At the Curacao-licensed online betting site, Clinton has the best odds. Paddy Power : An online gambling site that mainly features sports, Paddy Power takes bets (not from the United States) on U.S. politics , too. It has Clinton as favored to win; Trump has the second-best odds. Predictious : Established after the demise of Intrade, Ireland-based Predictious exchange allows you to buy and sell contracts using Bitcoins, the virtual currency. Despite all these predictions, they could be dead wrong, Johnson points out. Ahead of the March 1 Super Tuesday elections, PredictIt bettors and PredictWise said Trump would win 10 of 11 states and would lose only to Ted Cruz in Cruzs home state, Texas. Cruz did win in Texas, but he also took Oklahoma and Alaska while Rubio won Minnesota; Trump won in seven states: Alabama, Arkansas, Georgia, Massachusetts, Tennessee, Vermont and Virginia. So, while you might want to get a handle on the odds for your favorite candidate and bettors can help in the voting booth, you need to weigh that with your political convictions. You need to do your own research, pick your own candidate and then back that candidate with your vote, no matter what gamblers, polls or pundits say, he said. If you were betting on the election, where would you put your money? Does that pick line up with your politics? Share with us in comments below or on our Facebook page . This article was originally published on MoneyTalksNews.com as 'Can you Pick the 2016 Election Winners Without TV Analysts? Heres a Better Bet' . More from Money Talks News A Way to Master Income Taxes at Last and Save Money 7 Ways Donald Trump is Destroying His Brand and 4 Ways Hes Improving It Could These 12 Weird Tax Deductions Save You Money? || Bitcoin Investing Improved Last Quarter: While Bitcoin may not have ended 2015 on a strong note, things could be turning around for the cryptocurrency. For example, Q4 was "surprisingly anemic," but the first quarter has seen $160 million in investments, according to Mattermark , citing CoinDesk figures. "Bitcoin had its best fundraising quarter in a year," Mattermark's Alex Wilhelm said. "I'm not sure that the industry will ever beat the first quarter of 2015, when more than $200 million went into bitcoin firms, including huge sums into Coinbase and 21. Still, closing well north of the $100 million mark is a big step up from every other quarter recorded last year," Wilhelm commented. Related Link: 10 Of This Year's Hottest Financial Buzzwords "In fact, it appears that the first quarter of 2016 was the second most active period in terms of total dollars raised for bitcoin firms in at least the last two years." Looking Ahead Based upon the transaction volume over the last year and the improvement over last quarter, it's probable that bitcoin may be making its way back into investors' favor. "In the last year, transaction volume across bitcoin to pick a single metric has roughly doubled. That's not the same pace of growth that the cryptocurrency saw in its infancy, but it is material," Wilhelm explained. "Combine that statistic with an increasingly stable price and continued investment and bitcoin look just fine." See more from Benzinga Andrew Left Talked Mallinckrodt And Evergrande On Bloomberg This Morning Twitter's NFL Deal Not A Huge Shock To PacCrest Detroit News Auto Critic: Tesla Model 3 Is 'The Auto Story Of The 21st Century' © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Japan looks to kickstart 'fintech' revolution: By Thomas Wilson TOKYO (Reuters) - A laggard in embracing the 'fintech', or financial technology, revolution, Japan is set to ease investment restrictions that could free up the flow of capital in an economy sitting on an estimated $9 trillion in individuals' cash deposits. Strict regulation, easy access to credit due to rock-bottom interest rates, and weak demand for innovative financial services from a risk-averse population that still prefers cash to credit cards, have strangled fintech's advance in Japan. Fintech ventures - usually start-ups leveraging technology from cloud data storage to smartphones to provide loans, insurance and payment services - raised $2.7 billion in China last year, and over $1.5 billion in India, according to CB Insights data. Ventures in the United States attracted investment of around $7.4 billion. In comparison, investment in Japanese ventures reached only around $44 million in the first nine months of 2015. Now, Japan's financial industry regulator hopes relaxed rules on investing in financial ventures, and a new system for regulating virtual currency exchanges will pass through parliament by May - a first step in kickstarting the fintech revolution in the world's third-biggest economy. "The law changes aren't a goal, but a first step," Norio Sato, a senior official at the Financial Services Authority (FSA), told Reuters. "Fintech will have a big impact on financial services." The changes, which will allow banks to buy stakes of up to 100 percent in non-finance-related firms, will free up Japan's three megabanks to enter into tie-ups with fintech ventures developing services including robotic investment advisory and blockchain, the decentralised ledger technology behind the bitcoin digital currency. Mitsubishi UFJ Financial Group, Mizuho Financial Group and Sumitomo Mitsui Financial Group have said they are eyeing such investments, having previously been restricted to holding stakes of only 5-15 percent in start-ups. Under pressure from weak loan demand, the megabanks see an opportunity to earn money through fintech, but are also aware of its potential to disrupt traditional business models. GAME CHANGER The unpromising fintech environment in Japan - which was blindsided by the high-profile collapse of the Mt. Gox bitcoin exchange in 2014 when hackers stole an estimated $650 million worth of the digital currency - has seen some entrepreneurs go overseas for funding. Junichi Horiguchi, co-founder and CEO of bitcoin service provider Zerobillbank Ltd, established his start-up in Tel Aviv last year to take advantage of Israel's advanced technology industry. Investment in fintech start-ups by global banks and tech giants including Barclays, Google and Facebook is far more common in Israel than in Japan, he said. "It's completely different over there," Horiguchi told Reuters. "Every month there are open innovation contests and (start-up) accelerator programmes." Sales at Japan's fintech start-ups could jump to over half a billion dollars by 2020 as the use of technology such as blockchain increases, Yano Research Institute said in a report. The new rules the FSA is promoting on virtual currency exchanges could make Japan one of the first countries to regulate bitcoin at a national level. "Japan hasn't previously been enthusiastic about fintech," said Sato. "But creating these rules this fast could gain the world's attention." Bitcoin entrepreneurs, often reliant on investment for growth, have called for clearer regulation and will welcome the latest changes, said Yuzo Kano, founder and CEO of bitcoin exchange bitFlyer Inc, and head of the Japan Authority for Digital Assets, a lobbying group. "The establishment of the law is extremely surprising," Kano said, referring to how quickly the FSA had drafted the law. "It's set to be very successful." ($1 = 112.95 yen) (Reporting by Thomas Wilson; Editing by Ian Geoghegan) || Blockchain won’t kill banks: Bitcoin pioneer: Blockchain – the technology that underpins the cryptocurrency bitcoin – is unlikely to kill banks despite warnings from top industry executives, the chair of a bitcoin non-profit organization told CNBC on Monday.
Last week, Andrey Sharov, a vice president at Russia's Sberbank, said banks would disappear by 2026 due to the rising use of blockchain technology.
"In 10 years, there will be no banks, I'm afraid," according to a translation of Sharov's comments by the Coinfox bitcoin news website.
But Brock Pierce, the chairman of the Bitcoin Foundation, said that while the adoption of blockchain will hit parts of a bank, it will ultimately create opportunity.
"There are certain aspects of their business that are going to be negatively impacted, but there are also going to be other business units that are going to be positively impacted and new business units that get created that might not even exist today," Pierce told CNBC in an interview on Monday.
"And the parts of the industry that are being most negatively impacted are the ones where the bank is not providing much in the way of value, where they are being a toll taker but not really a value creator."
Blockchain is the technology that underlies the cryptocurrency bitcoin. It works like a huge, decentralized ledger for bitcoin which records every transaction and stores this information on a global network so it cannot be tampered with.Banks feel blockchain technologycan be utilized in areas from remittances to securities exchanges to bring about efficiency.
The Bitcoin Foundation positions itself as an organization that is helping to advance the use of the cryptocurrency "through advocacy, education and support of adoption and core development", according to its website. While there is no centralized authority for bitcoin, the organization is trying to create common standards for its use.
Pierce has a varied history. He was a child film star who appeared in Disney's "The Mighty Ducks" film in the early 1990s. He has previously run internet companies and is a partner in Blockchain Capital, a venture capital firm that invests in companies in the space.
A number of major financial institutions have been speaking publically about blockchain and touting its potential. A firm called R3 has brought together a group of the world's biggest banks including JPMorgan and Citigroup and is dedicated to researching and delivering new financial technology. Another company called Digital Asset Holdings, founded by an ex-top JPMorgan executive, partnered with JPMorgan earlier this year to explore blockchain technology.
Speaking at the Money 2020 conference in Copenhagen last week, Digital Asset Holdings chief executive Blythe Masters, said blockchain technology will be "deployed in a commercial setting in less than a couple of years," butwidespread adoption would take longer, a point Pierce echoed.
"I think banks are going to take a while to integrate this … it's going to take them years of testing before they start to commercialize aspects of the technology … it's more likely to have an impact in other industries in the short term which are less-regulated and where the stakes are lower," Pierce told CNBC.
Pierce also explained that there would be "dozens of different versions of blockchains" deployed for different use cases.
The Bitcoin Foundation has had a checkered history. In December, Pierce declared in meeting minutes that the organization was "close to running out of money."
And bitcoin itself has had a bad reputation. The cryptocurrency is often linked to allowing people to purchase illegal items anonymously, while one of the world's largest bitcoin exchanges,Mt. Gox, collapsed in 2014.
While not referring to these specific incidents, Pierce did admit that bitcoin's reputation has suffered some bad publicity, and why the banks are focusing on the underlying technology of blockchain.
"Bitcoin's got a major PR (public relations) problem and that's why you hear major banks saying bitcoin bad, blockchain good," Pierce said.
"Emerging technologies and the earliest adopters often produce these types of messages. And bitcoin as the pioneer takes the arrows in the back…which is probably not warranted."
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• Personal Finance || Banks, tech companies move on from bitcoin to blockchain: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - As a debate raged across the internet Monday over whether the mysterious founder of the bitcoin digital currency had finally been identified, executives at a major bitcoin conference in New York had a simple message: we've moved on.
That's because bitcoin, the digital currency, has largely been supplanted by blockchain, the technology that underlies it, as the main interest of investors, technology companies and financial institutions.
"If there is a 100 percent opportunity in the blockchain, bitcoin, or the currency, is only 1 percent of it," said Jerry Cuomo, vice president, Blockchain Technologies at International Business Machines Corp. "So there is a whole 99 percent that has broad applications across the broad industries."
Over the past year numerous Wall Street firms, led by Goldman Sachs, have declared their commitment to pursuing blockchain as a potential revolutionary technology for tracking and clearing financial transactions.
The blockchain technology works by creating permanent, public "ledgers" of all transactions that could potentially replace complicated clearing and settlement systems with one simple ledger.
Still, bitcoin is by far the largest implementation of blockchain technology and there is considerable debate as to whether one can truly develop without the other.
"Bitcoin is still the only blockchain-enabled, cross-border large scale, provable application that's actually in production," said Joseph Guastella, a principal at Deloitte Consulting in New York. "Bitcoin as a currency may not be as relevant as it was in many ways, but it actually is relevant as a proof case for the blockchain technology."
Bitcoins are created through a "mining" process, in which specialized computers solve complex math problems in exchange for bitcoins. One bitcoin is equivalent to $444.75 late on Monday and trade on various exchanges around the world.
But bitcoin transaction volume has been in decline over the past six months amid a bitter split over technical changes in the protocol that are needed to increase the capacity of the system that produces them. Because the cryptocurrency has no formal governance, it relies on a core group of developers for direction - and they are sharply divided over the changes.
But that debate was of relatively little concern to the Blockchain enthusiasts gathered in New York.
Australian tech entrepreneur Craig Wright identified himself on Monday as the creator of controversial digital currency bitcoin.
"It's irrelevant because his announcement doesn't solve a problem or resolve a conflict," said Bharat Solanki, managing director at Cambrian Consulting in New York.
"It probably helps to determine the origins of bitcoin but only for recognition," Solanki said.
For Naoki Taniguchi, a global innovation expert at The Bank of Tokyo-Mitsubishi UFJ Ltd in San Francisco, he does not really care about who created bitcoin.
"It's all about the blockchain," he said.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Jonathan Weber, Bernard Orr) || Brave will pay you in Bitcoins for browsing the web (updated): Brendan Eich, the controversial former CEO of Mozilla, recently launched Brave , a privacy-focused browser that blocks ads and trackers. While that concept isn't new, Brave has a twist: You'll have to pay to completely block ads, and if you allow replacement ads (reportedly free of bloat, tracking and malware) you'll actually get paid yourself. Now, the company has revealed the Brave Ledger, a Bitcoin-based payment system for users and publishers. The specifications aren't final, but Brave is now fielding comments and discussion from advertisers and developers. Here's how it works: Previously, the company said it would allow users to either pay to block ads, or get paid to allow ad replacements from Brave's own network. Those ads, chosen by an ad-matching partner, are supposedly faster, safer and load after the publisher's content, not before it like regular third-party ads. For ad-free mode, you'll pay a monthly fee that will be distributed to publishers based on total traffic to each site. Brave's ad network would take a five percent cut of the total amount collected. How many publishers will go along with this, since many, like Engadget parent AOL, have their own ad networks? When users go for replacement ads, Brave will take a 15 percent cut, its ad-matching partner would take 15 percent and publishers would get the biggest chunk, 55 percent. The latter pot would be divvied up based on the same traffic measurements as the ad-free method. Users get 15 percent, but there are some caveats. First of all, you need to have a Brave Bitcoin wallet, and the default option will be to donate money to your preferred publisher. If you want to spend the money yourself, you'll need to verify your identity with a phone number and email address. Publishers will also need to be verified to a higher standard. All of this creates as many questions as it answers. How much will users get paid (and have to pay) to accept or decline ads, for instance? Since the ad-free method amounts to a subscription, how many users will pay to skip ads? (Not many, if torrent software providers like uTorrent are any indication.) Which publishers will go along with this, since many, like Engadget parent AOL, have their own ad networks ? These are tricky questions, and if the company doesn't have the right answers, its Brave browser model will be dead on arrival. Story continues Update : Since this article was published, Brave has updated the source blog post to say that paying for ad-blocking is "optional." In a previous version, it said "for ad-free mode, you pay a monthly fee in Bitcoin (BTC)." The article now states: "For sites in ad-free mode, you can optionally pay the site by drawing from your user wallet, funded by your revenue share from ad-replacement mode sites (see below) plus your own funds if you care to add any." A company spokesperson also confirmed that users do not have to pay to block ads. There's no word on whether users would opt in or out to pay, and how a free mode would affect publisher revenues. Engadget has reached out for more information, and Brave's comments, in part, are below. There is no subscription model. With Brave, a user can go ad-free if he wishes -- without paying. Of course we encourage users to support publishers and web sites, but we don't require users to pay to go ad-free. || Australian says he created bitcoin, but some skeptical: By Byron Kaye and Jemima Kelly
SYDNEY/LONDON (Reuters) - Australian tech entrepreneur Craig Wright identified himself as the creator of controversial digital currency bitcoin on Monday but experts were divided over whether he really was the elusive person who has gone by the name of Satoshi Nakamoto until now.
Uncovering Nakamoto's real identity would solve a riddle dating back to the publication of the open source software behind the cryptocurrency in 2008, before its launch a year later.
Bitcoin has since become the world's most commonly used virtual currency, attracting the interest of banks, speculators, criminals and regulators.
Worth a total of $7 billion at current levels, it fell more than 3 percent on Monday -- a normal intraday move for the volatile currency -- after the news, to below $440 from around $455, before recovering slightly.
Some online commentators suggested bitcoin's creator could help resolve a bitter row among the currency's software developers that threatens its future.
But Wright made no reference to the row in a BBC interview identifying himself as Nakamoto, and as the protocol bitcoin runs on is open-source and cannot be controlled by any one person, it is unclear whether he would be able to influence the way it develops.
"I was the main part of it, other people helped me," Wright, who is now living in London, told the BBC. "Some people will believe, Some people won't, and to tell you the truth, I don't really care," he said.
Many bitcoiners said Wright had not done enough to definitively prove that he was Nakamoto, who maintained his anonymity throughout his involvement with bitcoin, which he stepped away from in 2011.
But Gavin Andresen, who Nakamoto chose to succeed him, published a blog post in which he described meeting Wright last month and said he is “convinced beyond a reasonable doubt” that the Australian is Nakamoto.
Jon Matonis, a founding director of the Bitcoin Foundation now works as a bitcoin consultant, wrote a blog post on Monday which, like Andresen’s, supported Wright’s claims.
“According to me, the proof is conclusive and I have no doubt that Craig Steven Wright is the person behind the Bitcoin technology, Nakamoto consensus, and the Satoshi Nakamoto name,” Matonis wrote. He and Andresen also confirmed they had been responsible for their respective blog posts to Reuters directly.
LEGACY
Nakamoto's biggest likely legacy lies well beyond his control. The blockchain technology that underpins the currency could transform the way banks settle transactions, the way that property rights and other vital data are recorded, and provide a way for central banks to issue their own digital currencies.
The BBC reported on Monday that Wright gave some technical proof demonstrating that he had access to blocks of bitcoins known to have been created by bitcoin's creator.
Researchers believe Nakamoto may be holding up to one million of the more than 15 million bitcoins currently in circulation, which would make the creator worth around $440 million.
In a blog post also dated Monday, Wright posted an example of a signature used by Nakamoto and an explanation of how bitcoin transactions are verified and thanked all those who had supported the project from its inception.
"This incredible community’s passion and intellect and perseverance have taken my small contribution and nurtured it, enhanced it, breathed life into it," he wrote.
However he did not state directly that he was Nakamoto. "Satoshi is dead," he said. "But this is only the beginning."
Bitcoin expert Peter Van Valkenburgh, director of research at Washington, D.C.-based advocacy group Coin Center, said a new message cryptographically signed using the private key associated with the so-called Genesis block, the first ever "mined" would have been more convincing.
The currency's "miners" are incentivized to process transactions every 10 minutes by a possible reward of bitcoins (25 currently), which is how new bitcoins are created.
Wright also spoke with The Economist, but declined requests from the magazine to provide further proof that he was Nakamoto. His representatives told Reuters he would not be taking part in more media interviews for the time being.
"Our conclusion is that Mr Wright could well be Mr Nakamoto, but that important questions remain," The Economist said. "Indeed, it may never be possible to establish beyond reasonable doubt who really created bitcoin.”
Hopes that bitcoin would become broadly used helped buoy its price to more than $1,000 in December 2013, when its market capitalization was $13 billion compared with today's $7 billion.
Wright told The Economist he would exchange bitcoin he owns slowly to avoid pushing down its price.
HOME RAIDED
In December, police raided Wright's Sydney home and office after Wired magazine named him as the probable creator of bitcoin and holder of hundreds of millions of dollars worth of the cryptocurrency. At the time he made no comment.
The treatment of bitcoins for tax purposes in Australia has been the subject of considerable debate. The Australian Tax Office (ATO) ruled in December 2014 that cryptocurrency should be considered an asset, rather than a currency, for capital gains tax purposes.
On Monday, the ATO said it had no comment while police were not immediately available for comment.
If Wright is Nakamoto he "is now the leader of a movement", said Roberto Capodieci, a Singapore-based entrepreneur working on the blockchain, the technology underlying the currency.
That movement ranges from libertarian enthusiasts to central banks experimenting with digital currencies, all of which pay homage in some way to Nakamoto's writings.
(Additional reporting by Jeremy Wagstaff in Singapore, Matt Siegel in Sydney and Paul Sandle in London; Editing by Nick Macfie, Raju Gopalakrishnan and Philippa Fletcher) || Exclusive: Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn
(Reuters) - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said.
Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals.
But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions.
“It is obviously a group of skilled of operators that have some amount of experience conducting intrusions,” said Phil Burdette, who heads an incident response team at Dell SecureWorks.
Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs.
The victims included a transportation company and a technology firm that had 30 percent of its machines captured.
Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December.
Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters.
The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly.
The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions.
Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement.
Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware.
It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell’s cases, the means of access by the team spreading ransomware was established in 2013.
The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments.
Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities.
PAYMENT IN BITCOIN
Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats.
In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks.
Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay.
Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams.
The involvement of more sophisticated hackers also promises to intensify the threat.
InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT.
“The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab,” Alderson said.
(Reporting by Joseph Menn in San Francisco; editing by Jonathan Weber and Grant McCool) || Australian says he created bitcoin, but some skeptical: By Byron Kaye and Jemima Kelly SYDNEY/LONDON (Reuters) - Australian tech entrepreneur Craig Wright identified himself as the creator of controversial digital currency bitcoin on Monday but experts were divided over whether he really was the elusive person who has gone by the name of Satoshi Nakamoto until now. Uncovering Nakamoto's real identity would solve a riddle dating back to the publication of the open source software behind the cryptocurrency in 2008, before its launch a year later. Bitcoin has since become the world's most commonly used virtual currency, attracting the interest of banks, speculators, criminals and regulators. Worth a total of $7 billion at current levels, it fell more than 3 percent on Monday -- a normal intraday move for the volatile currency -- after the news, to below $440 from around $455, before recovering slightly. Some online commentators suggested bitcoin's creator could help resolve a bitter row among the currency's software developers that threatens its future. But Wright made no reference to the row in a BBC interview identifying himself as Nakamoto, and as the protocol bitcoin runs on is open-source and cannot be controlled by any one person, it is unclear whether he would be able to influence the way it develops. "I was the main part of it, other people helped me," Wright, who is now living in London, told the BBC. "Some people will believe, Some people won't, and to tell you the truth, I don't really care," he said. Many bitcoiners said Wright had not done enough to definitively prove that he was Nakamoto, who maintained his anonymity throughout his involvement with bitcoin, which he stepped away from in 2011. But Gavin Andresen, who Nakamoto chose to succeed him, published a blog post in which he described meeting Wright last month and said he is convinced beyond a reasonable doubt that the Australian is Nakamoto. Jon Matonis, a founding director of the Bitcoin Foundation now works as a bitcoin consultant, wrote a blog post on Monday which, like Andresens, supported Wrights claims. Story continues According to me, the proof is conclusive and I have no doubt that Craig Steven Wright is the person behind the Bitcoin technology, Nakamoto consensus, and the Satoshi Nakamoto name, Matonis wrote. He and Andresen also confirmed they had been responsible for their respective blog posts to Reuters directly. LEGACY Nakamoto's biggest likely legacy lies well beyond his control. The blockchain technology that underpins the currency could transform the way banks settle transactions, the way that property rights and other vital data are recorded, and provide a way for central banks to issue their own digital currencies. The BBC reported on Monday that Wright gave some technical proof demonstrating that he had access to blocks of bitcoins known to have been created by bitcoin's creator. Researchers believe Nakamoto may be holding up to one million of the more than 15 million bitcoins currently in circulation, which would make the creator worth around $440 million. In a blog post also dated Monday, Wright posted an example of a signature used by Nakamoto and an explanation of how bitcoin transactions are verified and thanked all those who had supported the project from its inception. "This incredible communitys passion and intellect and perseverance have taken my small contribution and nurtured it, enhanced it, breathed life into it," he wrote. However he did not state directly that he was Nakamoto. "Satoshi is dead," he said. "But this is only the beginning." Bitcoin expert Peter Van Valkenburgh, director of research at Washington, D.C.-based advocacy group Coin Center, said a new message cryptographically signed using the private key associated with the so-called Genesis block, the first ever "mined" would have been more convincing. The currency's "miners" are incentivized to process transactions every 10 minutes by a possible reward of bitcoins (25 currently), which is how new bitcoins are created. Wright also spoke with The Economist, but declined requests from the magazine to provide further proof that he was Nakamoto. His representatives told Reuters he would not be taking part in more media interviews for the time being. "Our conclusion is that Mr Wright could well be Mr Nakamoto, but that important questions remain," The Economist said. "Indeed, it may never be possible to establish beyond reasonable doubt who really created bitcoin. Hopes that bitcoin would become broadly used helped buoy its price to more than $1,000 in December 2013, when its market capitalization was $13 billion compared with today's $7 billion. Wright told The Economist he would exchange bitcoin he owns slowly to avoid pushing down its price. HOME RAIDED In December, police raided Wright's Sydney home and office after Wired magazine named him as the probable creator of bitcoin and holder of hundreds of millions of dollars worth of the cryptocurrency. At the time he made no comment. The treatment of bitcoins for tax purposes in Australia has been the subject of considerable debate. The Australian Tax Office (ATO) ruled in December 2014 that cryptocurrency should be considered an asset, rather than a currency, for capital gains tax purposes. On Monday, the ATO said it had no comment while police were not immediately available for comment. If Wright is Nakamoto he "is now the leader of a movement", said Roberto Capodieci, a Singapore-based entrepreneur working on the blockchain, the technology underlying the currency. That movement ranges from libertarian enthusiasts to central banks experimenting with digital currencies, all of which pay homage in some way to Nakamoto's writings. (Additional reporting by Jeremy Wagstaff in Singapore, Matt Siegel in Sydney and Paul Sandle in London; Editing by Nick Macfie, Raju Gopalakrishnan and Philippa Fletcher) || Australian says he created bitcoin, but some sceptical: (Repeats story published on Monday, no change to text)
* Unmasking Nakamoto would solve bitcoin mystery
* Some sceptical that Wright is Nakamoto
* Wright's blog mentions development of his "small contribution"
By Byron Kaye and Jemima Kelly
SYDNEY/LONDON, May 2 (Reuters) - Australian tech entrepreneur Craig Wright identified himself as the creator of controversial digital currency bitcoin on Monday but experts were divided over whether he really was the elusive person who has gone by the name of Satoshi Nakamoto until now.
Uncovering Nakamoto's real identity would solve a riddle dating back to the publication of the open source software behind the cryptocurrency in 2008, before its launch a year later.
Bitcoin has since become the world's most commonly used virtual currency, attracting the interest of banks, speculators, criminals and regulators.
Worth a total of $7 billion at current levels, it fell more than 3 percent on Monday -- a normal intraday move for the volatile currency -- after the news, to below $440 from around $455, before recovering slightly.
Some online commentators suggested bitcoin's creator could help resolve a bitter row among the currency's software developers that threatens its future.
But Wright made no reference to the row in a BBC interview identifying himself as Nakamoto, and as the protocol bitcoin runs on is open-source and cannot be controlled by any one person, it is unclear whether he would be able to influence the way it develops.
"I was the main part of it, other people helped me," Wright, who is now living in London, told the BBC. "Some people will believe, Some people won't, and to tell you the truth, I don't really care," he said.
Many bitcoiners said Wright had not done enough to definitively prove that he was Nakamoto, who maintained his anonymity throughout his involvement with bitcoin, which he stepped away from in 2011.
But Gavin Andresen, who Nakamoto chose to succeed him, published a blog post in which he described meeting Wright last month and said he is "convinced beyond a reasonable doubt" that the Australian is Nakamoto.
Jon Matonis, a founding director of the Bitcoin Foundation now works as a bitcoin consultant, wrote a blog post on Monday which, like Andresen's, supported Wright's claims.
"According to me, the proof is conclusive and I have no doubt that Craig Steven Wright is the person behind the Bitcoin technology, Nakamoto consensus, and the Satoshi Nakamoto name," Matonis wrote. He and Andresen also confirmed they had been responsible for their respective blog posts to Reuters directly.
LEGACY
Nakamoto's biggest likely legacy lies well beyond his control. The blockchain technology that underpins the currency could transform the way banks settle transactions, the way that property rights and other vital data are recorded, and provide a way for central banks to issue their own digital currencies.
The BBC reported on Monday that Wright gave some technical proof demonstrating that he had access to blocks of bitcoins known to have been created by bitcoin's creator.
Researchers believe Nakamoto may be holding up to one million of the more than 15 million bitcoins currently in circulation, which would make the creator worth around $440 million.
In a blog post also dated Monday, Wright posted an example of a signature used by Nakamoto and an explanation of how bitcoin transactions are verified and thanked all those who had supported the project from its inception.
"This incredible community's passion and intellect and perseverance have taken my small contribution and nurtured it, enhanced it, breathed life into it," he wrote.
However he did not state directly that he was Nakamoto. "Satoshi is dead," he said. "But this is only the beginning."
Bitcoin expert Peter Van Valkenburgh, director of research at Washington, D.C.-based advocacy group Coin Center, said a new message cryptographically signed using the private key associated with the so-called Genesis block, the first ever "mined" would have been more convincing.
The currency's "miners" are 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)
[Random Sample of Social Media Buzz (last 60 days)]
LIVE: Profit = $157.06 (8.46 %). BUY B4.81 @ $400.00 (#VirCurex). SELL @ $406.00 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || Current price: 371.46€ $BTCEUR $btc #bitcoin 2016-04-08 22:00:09 CEST || 1 MUE Price: Bittrex 0.00000048 BTC YoBit 0.00000038 BTC Bleutrade 0.00000048 BTC #MUE #MUEprice 2016-03-07 09:00 pic.twitter.com/a7MmsJ9msm || El precio actual del BTC es de 415.00$ || LIVE: Profit = $345.02 (4.28 %). BUY B19.53 @ $420.00 (#VirCurex). SELL @ $431.00 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || My mom just asked me what Bitcoin was..... || 1 KOBO =
0.00000843 BTC
0.00355996 USD
0.70861004 NGN
#Kobocoin #BTC #USD #NGN
2016-04-08 18:00 pic.twitter.com/5qTy0YIm67 || LIVE: Profit = $142.61 (7.68 %). BUY B4.81 @ $410.00 (#VirCurex). SELL @ $416.02 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || 1 KOBO Price: YoBit = 0.00000797 BTC (0.00334953 USD) #KOBO #BTC #KOBOprice #Kobocoin 2016-03-29 06:00 pic.twitter.com/UpOnD9c3vv || #CannaCoin #CCN $ 0.012542 (0.23 %) 0.00002996 BTC (0.00 %)
|
Trend: up || Prices: 446.72, 447.98, 459.60, 458.54, 458.55, 460.48, 450.89, 452.73, 454.77, 455.67
|
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